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TrAndy1 replied Oct 19, 2023With those stats difficult to survive for them, until they cut/deny some payouts.
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TrAndy1 replied Oct 18, 2023But the question is how they officially say what they do. I mean if they just play marketing tricks to get a wrong impression for their customers it may be misleading and that is not allowed. Nowhere in no country. So the only option would be ...
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TrAndy1 replied Oct 18, 2023any payouts over those payment processors ? or are these not meant here ?
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TrAndy1 replied Oct 18, 2023Which payment processors ? Surely not all ones in the same manner. And that link shows also that it can take 30+ days holding time. Who as trader wants to wait more than 30 days for his payout ? Certaily not good for the prop business.
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TrAndy1 replied Oct 18, 2023Look for divergences short term to the SP500 and Bund Future as underlying bond market. If they both diverge in the same direction as overlaying charts you could use them to trigger DAX entries. That should be profitable as the DAX in real moves ...
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TrAndy1 replied Oct 18, 2023If I was the UK tax authority I would look on each prop firm its website and when there is a profit split mentioned I would use this number to fully tax the prop firm, even they would claim they had no profits because of proprietary only b-booking ...
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TrAndy1 replied Oct 18, 2023I see no need for that because FTMO is the only prop left where you can sign up as business entity. All the other props you cannot do that.
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TrAndy1 replied Oct 17, 2023Regarding the revenue share. I mean are the prop firms not really stupid if they say there is a standard 80% profit split ? Because it means whenever a trader is paid out it means that 20% of those profits must be taxed as revenue share for the prop ...
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TrAndy1 replied Oct 17, 2023You are right the turnover from securities is excempt from sales tax. It is also said that the effort from this turnover is free of sales tax. So for the profits from these turnovers they are also sales tax free ? And all the youtube and internet ...
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TrAndy1 replied Oct 17, 2023Not possible, it is self employed income as you are independent contractor of the prop firm. As self employed you pay sales tax. There are no exceptions here in Germany regarding Financial Services.
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TrAndy1 replied Oct 17, 2023You cannot compare, the US tax system is TOTALLY different. I cannot say anything about US taxation on prop firms.
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TrAndy1 replied Oct 17, 2023You cannot classify as capital gains on trading at a prop firm as you are independent contractor and thus it is self employed income, meaning there is sales tax to be paid when you make declaration of your yearly tax income.
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TrAndy1 replied Oct 17, 2023Just seen there is a flat tax on personal trading account gains in Spain of 19% to 23% and in Italy 12.5% tax on Forex trading gains with personal account. So the difference to self employed tax as individual is even higher here in those countries ...
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TrAndy1 replied Oct 17, 2023Lucky, it may be/was a smaller amount?. As I know they make a lot of trouble even on 4-digits for every transaction as new KYC procedure needed etc. and much more.
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TrAndy1 replied Oct 17, 2023Wise does not work. This is since this year 2023. Already said here many times. You need to have a bank wire from 5ers as Deel also does not work anymore.
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TrAndy1 replied Oct 17, 2023You need to deduct sales tax of 23% first if you are self employed as you do when trading on a prop firm. On top of that you pay taxes as individual or company. Of course if you only make 20k per year it is not much. But if you do 100k or 200k per ...
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TrAndy1 replied Oct 17, 2023Here it is in exact numbers. 19% sales tax first as I am independent contractor on any prop firm. On top of the rest of 81% profits it is taxed depending on the income level. It can be as high as 45%. So in the end I could pay up to 55.44% taxes on ...
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TrAndy1 replied Oct 17, 2023From what I know on the tax side I can say for sure that you should not buy anymore any challenges if you are from Germany, France, UK, Italy, Netherlands, Belgium and whole Scandinavia. If you already have funded accounts keep trading them of ...
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TrAndy1 replied Oct 17, 2023Hi, just seen you are from France, which has the same high taxes on prop firms gains. So basically you have no advantage anymore with prop firms doing the challenges if you compare them how difficult it is to get a payout in the end. FTMO is not ...
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TrAndy1 replied Oct 17, 2023The problem I have is that I have no real choice anymore. MFF was the best one. After that I thought I have found a similar cheap firm named Bespoke. But the CEO learnt me another lesson, that they are just after the fees and kicking out profitable ...
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