rony Posted January 9, 2013 Share Posted January 9, 2013 For tax purposes, money lost on the Foreign Exchange Market should be reported like any other stock losses or gains. Showing significant Forex losses can help you save money when the IRS is calculating the amount you owe them. Remember that to claim a capital loss from a Forex transaction, you must have realized the deduction, meaning that you must have sold the losing investment, not be holding it for future redemption. You can file your Forex capital loss on Form 1040 with the rest of your tax return. Quote Link to comment Share on other sites More sharing options...
luke1 Posted January 24, 2013 Share Posted January 24, 2013 Well, I see this thing here is talking about the tax we have to deal if we trade on forex trading here. It is depending on each government in the country where we live here. Because the rules and regulations and the law on each nation is different here. We can not describe it here, because very long Quote Link to comment Share on other sites More sharing options...
PROPENSITY100 Posted February 9, 2013 Share Posted February 9, 2013 Actually I am from India and there are no tax provisions relating to profits or losses in Forex and I never submitted my Forex losses or profits to the tax department and neither paid any thought to this. However I think the tax provisions may vary from country to country. Quote Link to comment Share on other sites More sharing options...
Bonnie Berry Posted January 15, 2015 Share Posted January 15, 2015 I am not a huge trader so I don’t really look too much into these things as I feel it does not matter and I am from a country where Forex tax are not any issue while my earning is around 400-500 USD, so that is not too much for me to be much concern while losses are part of it so I can accept it.  I am also trading with OctaFX broker which goes further extend to help me with saving from losses, it is their ever so popular system of rebate service which is basically a cash back offer since whatever trade we do any pay spread we get 50-60% of it back, so in total 15 USD is the amount that is our profits after 1 lot size trade. Quote Link to comment Share on other sites More sharing options...
myregister Posted January 17, 2015 Share Posted January 17, 2015 In my country if you loss you don't get tax but if you are making profit you won't get any too. But in each country It is depending on each government's policy because other nations have their own rules about forex's tax. Some even taxing you like what happens in some of those european countries for example. Quote Link to comment Share on other sites More sharing options...
Dion Ebrahim Posted April 23, 2015 Share Posted April 23, 2015 Frankly speaking I have never got into this situation since I live in a country where there is no tax for small earners like me, but changes if I start making millions yet till then I don’t need to worry and that’s why I have even preferred a great broker like OctaFX, it has decreased all kind of extra money to help us with low spread of just 0.2 pips for all major pairs and also swap free account option available for all traders. Quote Link to comment Share on other sites More sharing options...
boltushkin Posted April 27, 2015 Share Posted April 27, 2015 I think it only concerns US traders where traders are obligated to report about flow of their capital. I trade with Hotforex without tax hassle, my country even not yet adopted any law regulating forex so I enjoy profit not paying taxes at all. Quote Link to comment Share on other sites More sharing options...
myregister Posted May 5, 2015 Share Posted May 5, 2015 Report? I think if we want to report our losses just tell how much we loss or you can print a screenshot of your terminal there you can see where and when also how much money you lose, that is the way i told some of my friends about my activity in forex too. Quote Link to comment Share on other sites More sharing options...
jamante Posted May 25, 2015 Share Posted May 25, 2015 oh its for tax purposes! im really not sure how it works! from where i come from, lets just say there is a big loophole in the system, forex earnings comes as remitances with no tax on it! Quote Link to comment Share on other sites More sharing options...
pepy Posted June 22, 2015 Share Posted June 22, 2015 oh its for tax purposes! im really not sure how it works! from where i come from, lets just say there is a big loophole in the system, forex earnings comes as remitances with no tax on it! Of course you are living in one country and cut your profit by taxes so you will get some kind of services from it. This is normal for citizen of one country but losses and then you get taxes from it that is a bad thing which i don't really love it. Only profit not loss. Quote Link to comment Share on other sites More sharing options...
myregister Posted June 27, 2015 Share Posted June 27, 2015 For taxing? This is bad even our losses also taxing, as far as i know there are some countries that get paid even their trader loss money, but it is from spread so no matter you win or loss you still get some taxes for it. I think this is unfair, profit should taxed not our loss. Quote Link to comment Share on other sites More sharing options...
Decub Posted June 30, 2015 Share Posted June 30, 2015 I don't really know for those countries who tax Forex traders but one thing I think that should be rightfully done is that traders should only pay taxes based on the profit they made. You can't tell someone who in the widest sense is bereaved due to losses to start paying tax and I wonder from where he would pay it. Quote Link to comment Share on other sites More sharing options...
pepy Posted July 2, 2015 Share Posted July 2, 2015 There are many ways even your losses usually taxed by them especially in advanced countries which relies on tax for sure. The forex transactionmust be reporeted all of those transaction no matter if you are making profit or losing, usually they will tax you through spread or comission from the broker. Quote Link to comment Share on other sites More sharing options...
jamante Posted August 10, 2015 Share Posted August 10, 2015 does it really happen like you get taxed for loses? OMFG!! seriously, though to be honest, and its kinda bad and not, I dont pay any taxes for forex earnings, i get them as intl remittances.. the only fee i pay is 4 dollars transfer fee and some lose from really bad exchange rates all thanks to them hungry fat rich banks. Â Quote Link to comment Share on other sites More sharing options...
Decub Posted August 11, 2015 Share Posted August 11, 2015 does it really happen like you get taxed for loses? OMFG!! seriously, though to be honest, and its kinda bad and not, I dont pay any taxes for forex earnings, i get them as intl remittances.. the only fee i pay is 4 dollars transfer fee and some lose from really bad exchange rates all thanks to them hungry fat rich banks. Â It depends on country man. There are certain countries where you get to pay tax no matter the kinda business you ar doing and it's non of their when you are trading in Forex which everyone knows is a risky business. If you are a member of such country, be it resident or citizen, the same obligation is what you will be charged for. Quote Link to comment Share on other sites More sharing options...
gaban Posted May 18, 2016 Share Posted May 18, 2016 does it really happen like you get taxed for loses? OMFG!! seriously, though to be honest, and its kinda bad and not, I dont pay any taxes for forex earnings, i get them as intl remittances.. the only fee i pay is 4 dollars transfer fee and some lose from really bad exchange rates all thanks to them hungry fat rich banks.   I think it depends on the policy of each country. There are countries that require taxing for traders, but there is not. In my country, it is not taxed for trading,. and the broker also there is no tax for trading, but usually there is a commission to the broker  Quote Link to comment Share on other sites More sharing options...
pepy Posted May 19, 2016 Share Posted May 19, 2016 In each country the report for each trading's loss or profit is different, in my country no tax yet but when it will introduce i just hope they don' tax per transaction but instead per profit. If they tax per transaction it means we get more work to be done since we have spread+ taxes when opening a postion. Quote Link to comment Share on other sites More sharing options...
Upoctin Posted June 22, 2020 Share Posted June 22, 2020 In my country there are no taxes on lossess but if you will get profit then you will give some little fee. Quote Link to comment Share on other sites More sharing options...
gds221 Posted August 27, 2020 Share Posted August 27, 2020 In general, there are a lot of brokers in the forex market that can cheat. For this reason, I try to pay maximum attention to the choice of a broker. In general, I have been working in this industry for a long time and so far I have chosen the broker Amarkets for work. Quote Link to comment Share on other sites More sharing options...
maspluto Posted August 28, 2020 Share Posted August 28, 2020 The selection of a broker must also be considered well, this is needed and necessary so that traders can be maximized in carrying out trading activities that are in line with expectations and can become a trader of the month with Tickmill. Quote Link to comment Share on other sites More sharing options...
Jessie Chandra Posted August 28, 2020 Share Posted August 28, 2020 If you want to trade in forex market, first of all you need to learn the basics of forex trading. You can learn the basics from different sources. But my suggestion is to open a demo account. It will help you to understand all the basics and techniques of trading practically. I started my trading with the demo account of Forex4you. It gave me opportunity to trade practically without any risk. It helped me to get knowledge about forex market. Â Quote Link to comment Share on other sites More sharing options...
gds221 Posted October 7, 2020 Share Posted October 7, 2020 Usually the reason for losses in the trading process is more trader's mistake than problems with the broker. But if there are problems with the broker and this company has a license, then it is quite possible to complain. Quote Link to comment Share on other sites More sharing options...
maspluto Posted October 8, 2020 Share Posted October 8, 2020 the existing process must be able to run properly, this is necessary so that traders can be maximized in carrying out trading activities in accordance with expectations with Tickmill. Quote Link to comment Share on other sites More sharing options...
gds221 Posted October 8, 2020 Share Posted October 8, 2020 It should be understood that it is worth complaining about the loss of funds only if it is the broker's fault, and this does not happen so often and only if a poor-quality broker is selected. Quote Link to comment Share on other sites More sharing options...
Thorgagar Posted October 17, 2020 Share Posted October 17, 2020 Each loss has its own nuances, and if this is not the broker's fault, then you really shouldn't complain, just analyze what went wrong. Quote Link to comment Share on other sites More sharing options...
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