Do you required ato be licenced as Introducing Brokers?
I an a non-US Resident. I intend to form a Delaware LLC for a business as introducing brokers for an online forex trading house. I have a marketing website to market to US residents. My questions:
1. Do I require a US licence?
2. Do I have to pay tax for the income paid to me (via my Delaware LLC) by the forex trading house?
There is no license requirement to be an Introducing Broker for a Forex broker in the spot Forex marketplace.
Your Delaware LLC will be responsible for paying any taxes on the referal income received. This will of course be at the corporate rate as opposed to the higher individual tax rate.
Where & How can i download Forex trading software i.e Fx (forex, stock,currency)software online ?
i want to know which site allows to download the Fx trading software, foreign Currency Exchange Software, Stock Trading Software, Online currency trading software, free Forex Strategy Builder software, forex trading software.
I need to know few more good,popular & best Forex software,trading software and from where i can Download the software instantly and begin using it.
Downloading free system are just for demo account. You cannot actually trade there. I feel this is not a correct step of starting trading. software doesn’t help in earning good returns.Have a good understanding of the function of the market in general and those that keep the market operational. Understand, not only the market you are trading in, put be aware of all the products and services that you can upon if needed. Understand the basics of trading such as never trade against the trend, limit any & all loses by using stop orders and lock in any and all gains with sliding stops. First, you should know that Forex is not that easy. Do not believe those who may say it is!
Now, there are some good robots that MAY help you. Some are scam. Others are for real.
Simply put, a Forex robot is a program that attempts to take the guess work out of trading currencies. Currently there is a lot of information floating around the internet about these products. Like any other tool, it needs to be used properly in order to be most effective.
Like I hinted, in order to use this tool the right way you need to understand a little bit about how it works and where it is best applied.
A Forex robot is a computer or computer program that monitors currencies and does calculations to figure out the best time to buy and sell. These programs help to take some of the guess work out of buying and selling and can help a trader to identify currencies that meet certain criteria, or when certain currencies perform in certain a way. Most of the selling points of Forex robots state that you can simply set them and watch the cash come pouring in. While in some cases this may work, in most cases you are going to need to carefully monitor the program and make sure that it is adjusting to trends in the market. While they can be very profitable they may require a certain amount of intervention to be run effectively. Used properly, and if you have the patience to get to know the programs, they become a powerful tool.
For this automatic approach, forex auto pilot turbo has worked wonders for me: http://fapturboxreview.blogspot.com/ . It offers, among other features, high spread protection system and automated risk scaling. They say “95% winner”. Well, only the bottom line counts. In this regard, it has really delivered for me.
I had been watching the forex robot market for months, waiting for the right software to come out. I believe I have found a great one.
Really, get the fundamentals first. Then get your own system and test it offline (do that for weeks, if not months, until your system is well tested), whether you use a robot or not. It really takes a few months – a lot of patience and resilience. But if you are made for it, it is worth it. Read about the psychology of trading (never to underestimate). And then you should be fine.
I’ve signed up to: http://knowledgetoaction.com.au/training-programmes/upcoming-seminars/index.html?gid=AFFILIATEGINA
They offer free workshops where you can get 3 trading strategies which use proprietary signals and have traders which work on their trading floor who are able to coach you to become a trader.
Has anyone attended this course? It looks awesome!!!!
Cheers!
Most Manual Trading Systems & Trading Robots Don’t Work.
This Trading System Doubled An Account In Less Than 30 Days With The Whole World Watching Over Its Shoulder!
If history has proven one thing about market downturns, it’s that stocks, the investment of choice for most retail investors, take pretty severe beatings. That means that equity-based mutual funds will follow suit and depending on the depth and breadth of the market collapse, bonds and commodities may join in on the fun, or lack thereof. With so many asset classes vulnerable during glum markets, what’s an investor that wants more than tiny interest rates offered by money market accounts to do? The forex market may be just the solution that weary stock and mutual fund investors are looking for to get back in the game.
Not Afflicted With The Same Cold
When the stock market starts to turn down, the process can be slow to start, but when the bears really want to growl, rest assured, they will growl. Typically, the downturn will start with one sector and then, like a case of sniffles through a kindergarten class, the next you thing you know every sector is infected and even the good stocks are falling, leaving investors running for cover, but finding little in the way of protection.
We’ve already talked about how this impacts mutual funds, often times the largest holders of the biggest stocks that are being sold off, but commodities bear markets are similar. Take the bursting of the commodities bubble in 2008. Nearly every commodity under the sun had soared to the moon through the latter half of 2007 and the first half of 2008. Then the party came to a crashing end and all the guests were booted out the door. Again, there was literally nowhere for investors to hide, unless they wanted to put their money into low-yielding alternatives like money markets and CDs.
That’s the great thing about forex. While the market for one currency may be bearish, you can bet other currencies are thriving. In fact, that’s what we’re doing when we trade forex pairs. We’re exploiting one currency’s strength over another or if we’re going short, we’re taking advantage of currency’s weakness compared to one of its rivals.
Where To Turn When Other Markets Head South
This is kind of a tricky question to answer because the answer depends on what markets are spiraling down. Investors may think that if US equities are retreating that it may time to short the dollar. That’s inaccurate. History has shown that foreign currencies that are viewed as “risky” compared to the US dollar, such as the Euro, British Pound and Australian and New Zealand dollars actually suffer when the US stocks fall. This is because international investors are seeking safe havens to invest in, and the greenback is safe haven number one. The Japanese Yen is number two on the safe haven currency destination list.
Another way to play currencies during market downturns is to look at the performance of commodities , namely oil and gold. The Canadian dollar is what is known as a commodity currency and the commodity it is tied to is oil. Simply put, there is empirical evidence to suggest that when the price of crude oil falls, so does the Canadian dollar. The Canadian dollar (aka “loonie”) follows oil, so if you see crude prices tumbling, the loonie won’t be far behind.
Yet another commodity downturn worth watching for is gold. The Australian dollar is intimately tied to gold prices, and just as we would short the Canadian dollar when oil prices decline, we would look at shorting the Aussie dollar as gold prices retreat.
Is Forex The Ideal Hiding Place?
Well, that all depends on your tolerance for risk. To be sure, the forex market can spike in volatility when other markets are collapsing. The advantage of investing in forex during market downturns is that the fundamental factors that can negatively impact stocks and commodities are absent in the forex market. A currency isn’t going to be taken to the market woodshed because of glum earnings reports, lost market share, failed acquisitions or selling by institutional investors.
Likewise, commodities can be affected by input costs associated with drilling or mining for or growing the product. Then there are geopolitical factors like political uprisings and wars that can impact commodity prices. Yes, these can impact currencies as well, but it’s highly unlikely a major currency like the pound or dollar would be severely hampered by political turmoil.
In many ways the aforementioned factors make forex a great place for investors to park their money when they’ve been chased out of stocks and other asset classes. No, you’re not going to get the safety of a money market account, but without taking a little bit of risk, it’s hard to reap any rewards.
And when markets are trending down, that can be the best time to embrace the risks of investing in forex.
100 Pips Profit EUR | FOREX TRAINING | FOREX TRADING
I have purchased Forex Megadroid on 2 June 2009 and trade live since with default setting except the risklevel which I set at 0.4. Till now, the robot did only 3 trades. But when I back test it, the robot did 9 trades, why is the robot not performing just like said in their web? Why did the robot missed out so many trades? I’m starting to think that it’s a scam already. Disappointed.
It could be the broker that you are using if they have a high spread then it the forex megadroid could be missing the trades.
I would suggest that you look at this site they test all the forex robots on live accounts and also have a section where they display all the settings they are using. So you could compare their settings to yours to see if there is a difference. If you join the site (it is free) you can also see what trades each robot is doing so be able to compare the performance of your robot against the one on test.
http://www.forex-robots.com/
Also this site explains how to understand forex robots work and what you need to do to get the best from them
Hi Can you refer me to a site with free downloadable ebooks on candlestick pattern analysis in forex. Thanks?
I have an interest in medium term forex trading and to use candlestick patters for the purpose. Can you folks help please. Cecilgamini
Hi Cecilgamini,
Statistics show that most people end up loosing their money within the first 60 days of investing in the Forex (including myself). I had tried just about every Forex program, signal service, candlestick analysis, and spent countless hours trying to study charts and read graphs and almost gave up altogether trying to invest in the Forex market until I accidently ran across the FreedomRocks strategy. Which has been the only profitable system I’ve ever used. It’s a very safe hedging system, the software does 95% of the work, and it takes me about 15-30 minutes per week to manage my account. It’s simple and easy to understand and by far the best investment choice my wife and I have ever made even better than stocks and real estate. I would be more than happy to share our results with you so feel free to email or call me anytime.
What do i need to have before i could set up a company and sell forex trading alerts to customers?
Apart from having a good strategy and money for initial setup, what do i need to have before i could set up an online company in Singapore and sell forex trading alerts to customers?
Any licences? Qualifications?
Cheers!
Good Luck With that one , you will need to be able to compete with the Best of the Best as of right now forex ring leader is considered the top Forex Signal alert Company and has been around for about 3 years and has never lost a month yet! Then you’re going to have to be able to beat there minimum pip guarantee of 350 pips per month or the next month is free. Last time I check there where giving out free trials still.
Then you’re going to need to be able to send your alerts via e-mail and “sms” around the world and to any country in under 5 seconds. And you’re going to need a detailed trading report that is to verify or risk being called a scam. There are a lot of alert services that pop up every month but never last long due to the stiff completion from the big guys. Before you waste your time take a look at fxringleader track record for ideas on how good you’re going to need to be. And whatever you do when you build a new alert site NEVER post a fake trading history. It’s easy to detect and you will be out of business fast.
This is the current trading report: http://www.fxringleader.com/PastAlerts/View_All_Reports/index.html
Hi, I just opened a Forex trading account and am wondering how the tax is paid if I happen to win money. The representative of my broker says
‘We do not report to the IRS or any other government agency. How you are taxed/pay your taxes on gains is between you and your tax professional.
If you trade and make $1,000 you can withdraw the full $1,000. We never draw down on any customer funds for taxes.’
But I’m not sure how it works exactly. Would you please enlighten me on this subject? Thanks a lot.
So hire a tax professional.
Forex falls into two categories. Foreign currency trading as part of a business–which falls under line 21 of the 1040 as other income/loss. Or investments that go on schedule D. When you have a loss, it makes a huge difference where you list the money…and you can almost guarantee an audit if you try to claim a loss on line 21.
Forex News Recap (12/28): JPY Rallies On Output Data, USD Pares Losses in NY
Do I report my capital gains from my Forex account?
Hi,
I live in Canada and I have a Forex broker (for trading currency) in Australia and I had gains (about $300) last year from a few trades. My question is am I suppose to report these on my tax return?
When I opened my broker account the only thing they asked me provide was my ID and address no SIN number or tax identification number so I’m just wondering.
Forex trade income is business income, reportable on line 130 of your T1 return.
You are taxed as a Canadian resident on your world income.
08th December 2010 – Daily market analysis by Tim Lewis
Leading Swiss Forex Broker MIG BANK Obtains Securities Dealer License
- The Best Automated Forex Trading System – Find Exactly What Suits Your Personal Needs
