Forex Trading Uk Tax
I live in Russia. Can I use US stock broker?
Hi. I got some money (about $4k) and I want to invest them. Currently I keep them in a local bank and get about a 5 percent year interest rate. The inflation in my country is about 10 percent and growing, so now I’m loosing. There’re some banks which can give me about 12 percent for long-term deposits but it doesn’t work for me either. So now I’m looking for other ways to make my cash work for me.
I wonder: can I do it with a help of some US (EU or UK) broker? I’d like to give my bucks to some mutual fund or try a forex trading. I got a visa card and can create a PayPal account if required.
Another question: would I have to pay my income taxes and where (in Russia or in the US)?
Thanks in advance.
Yes you can.
This is the page for opening an Etrade account.
https://global.etrade.com/e/t/intl/page?nav=3&subnav=4&screen=1&language=en&country=gl
You also might want to consider a Scottrade or Tdameritrade account.
You would pay income taxes in Russia.
I read that Russians do not have to pay capital gains tax but that might only be for Russian stocks.
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