Forex account
  • EdinStops
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    Forex account

    by EdinStops » Mon Apr 26, 2021 10:43 am

    Should I be worried when the tax service is interested in my forex account?


  • DianaGibson90oXM
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    Re: Forex account

    by DianaGibson90oXM » Tue Apr 27, 2021 9:01 am

    As far as I know, forex is tax-free, so you don't have to worry about that.
  • AlanMcLean
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    Re: Forex account

    by AlanMcLean » Tue Apr 27, 2021 9:16 am

    If you work legally, then no
  • michaelshah
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    Re: Forex account

    by michaelshah » Tue Apr 27, 2021 9:23 am

    I would recommend that you study the tax code and the percentage you need to pay. I hope you understand that you must protect yourself from the IRS questions to work safely. If you are trading on the forex platform, then you should not have any problems. Personally, I get my primary income from changes in foreign exchange rates. Still, recently I have also become involved in stocks. If I'm not mistaken, the forex platform provides all the data you might need. In your personal forex account, you can find information about your economic situation and, if necessary, provide the required data to the tax service, as I do.
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    Lovala
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    Re: Forex account

    by Lovala » Mon Aug 02, 2021 12:54 pm

    Forex isn't tax-free, and you shouldn't forget that you have to pay a percent of your income to the state where you are living at the moment you withdrew money from your account. You are not supposed to pay taxes if you don't want to withdraw anything. Still, I would recommend you declare everything you have because you can avoid getting into different troubles. At least, this is what a good and honest webtrader does.

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