Retail forex trading in developed nations is fiercely regulated and it is still surprising that as we speak several African countries are yet to do same.
The number of Active forex traders in Africa continent is estimated at 1.3 million with Nigeria, South Africa and Kenya taking the lead.
How do I report forex losses
Traders on the foreign exchange market, or Forex, use IRS Form 8949 and Schedule D to report their capital gains and losses on their federal income tax returns.
Forex net trading losses can be used to reduce your income tax liability.
What causes big moves in forex
Forex is a decentralized and over-the-counter market, where the prices are determined by the available bid and ask offers.
While many factors cause the prices to move, five of them are crucial: the economic releases, political news & events, the interest rates changes, the GDP, and the commodity prices.
How do I invest money without a broker
It is possible to buy stock without a broker. In fact, there are three alternatives to using a full-service broker: opening an online brokerage account, investing in a dividend reinvestment plan, and investing in a direct stock purchase plan.
What is a day trader salary
Day Traders in America make an average salary of $116,895 per year or $56 per hour.
The top 10 percent makes over $198,000 per year, while the bottom 10 percent under $68,000 per year.
Which trading can make you rich
You can be rich by stock trading or day trading and there are a lot of examples who are successful in day trading but it will take a great understanding of the market, in-depth knowledge of concepts and your psychology and controlled emotions will lead your way to glory.
Which country is forex tax-free
Tax-free countries (spread betting tax-free countries) are the Bahamas, United Arab Emirates, Brunei, Monaco, Turks and Caicos, The British Virgin Islands, Oman, and Vanuatu.
The best country for forex trading tax, where you can relocate and live, is Monaco.
How much tax do traders pay
Any profits made within a period of 1 year will be treated as short term capital gains and will be taxed at the rate of 15% of the profit.
However, if the stock is held for a period beyond 1 year then it is classified as long term capital gains.
In that case the profits are entirely tax-free.
What is the Best telegram channel for forex?
- FXPremiere.com
- Free Signals Pro
- ForexSignals.io
- ApexBull
- Sure Shot Forex
- AltSignals.io
- Free Forex Signals – FX LifeStyle
Who is the richest trader in the world?
- George soros net worth – $9 Billion
- David Tepper Net Worth – $12 Billion
- Steve Cohen Net Worth – $14 Billion
- Ray Dalio Net Worth – $14 Billion
- Carl Icahn Net Worth – $15.4 Billion
- Ken Griffin Net Worth – $22 Billion
- Jim Simons Net Worth – $22 Billion
- Paul Tudor Jones II
Can you make a living trading
Trading is often viewed as a high barrier-to-entry profession, but as long as you have both ambition and patience, you can trade for a living (even with little to no money).
Trading can become a full-time career opportunity, a part-time opportunity, or just a way to generate supplemental income.
How do I claim forex loss on taxes
FOREX (Foreign Exchange Market) trades are not reported to the IRS the same as stocks and options, or futures.
FOREX trades are considered by the IRS as simple interest and the gain or loss is reported as “other income” on Form 1040 (line 21).
No special schedules or matched trade lists are necessary.
Why do 90% traders fail
Some common mistakes that are committed by the intraday traders are averaging your positions, not doing research, overtrading, following too much on recommendations.
These mistakes have caused many day traders to take losses. Around 90% of intraday traders lose money in intraday trading.
What leverage is good for $100
Many professional traders say that the best leverage for $100 is 1:100. This means that your broker will offer $100 for every $100, meaning you can trade up to $100,000.
Which is the best trading channel on YouTube?
- Warrior Trading
- Chris Dunn
- Trading 212
- Crypto Coin News
- ClayTrader
- Trade Empowered
- Adam Khoo
- Institute of Trading
Can I trade without a broker
It is possible to open a Demat account without a broker through DPs but in order to participate in the stock market transactions, you have to open a trading account with the help of some SEBI registered broker/sub-broker.
You can find many brokers who offer services at minimum brokerage charges.
Why do 95 percent traders fail
The most common reason for failure in trading is the lack of discipline. Most traders trade without a proper strategic approach to the market.
Successful trading depends on three practices. First, investors need a guidebook/mentor/course to help or guide them in daily trading.
How can I get rich quick?
- Avoid (and Pay Down) Debt
- Spend Intentionally and Minimize Costs
- Invest as Much as Possible in a Diversified Portfolio
- Work On Your Career
- Find Extra Work
What is the number 1 trading channel on YouTube
1. Warrior Trading. From the channel: “At Warrior Trading I teach people how to make a living trading stocks!
We review our trades each day on YouTube to give students free educational content!”
Can I trade with 10 dollars
It is possible to begin Forex trading with as little as $10 and, in certain cases, even less.
Brokers require $1,000 minimum account balance requirements. Some are available for as little as $5.
Unfortunately, if your starting amount is $10, this may prevent you from getting the higher quality, regulated brokers.
How many dollars is 0.01 lot size
0.01 Lot Size in Forex trading (also known as Micro Lot) equals 1.000 units of any given currency.
In any forex pair where the quote currency is the USD such as the GBP/USD, the pip value per Micro Lot is $0.1.
References
https://traderoomplus.com/how-long-does-it-take-to-learn-forex-trading/
https://www.ambitionbox.com/profile/forex-trader-salary
https://www.litefinance.com/blog/for-beginners/trading-strategies/three-profitable-forex-trading-strategies/
