Yes, commodity trading is a legal practice in the UK. However, brokers without approval from the Financial Conduct Authority (FCA) may not practice in the UK. As a trader in the UK, it is your responsibility to ensure that you only transact commodities with brokers accessible from the UK....
Yet there are differences between a pattern trader and a day trader. Pattern traders typically hold their positions over a few days up to several weeks. On the other hand, day traders close their positions within the same trading day. Based on the frequency of transactions, day traders would ...
This guide explains what a day trader does and how you can become one, as well as the risks to consider before starting to make investment decisions.
Some traders try to beat the system and don't pay taxes on their forex trades. Since over-the-counter trading is not registered with the Commodities Futures Trading Commission (CFTC), some think they can get away with it. If you are audited, however, the tax avoidance fees and penalties ...
Do I need to tell HMRC if I freelance as a second job? Most people who freelance as a second job do so as a “sole trader”, which is simply another term for being self-employed. You can be employed for your day job and self-employed as a freelance in your spare time, it’s pe...
So how much does claiming a stock loss save you on your taxes? The answer to that question depends on your tax bracket and whether your loss is offsetting a taxable gain or ordinary income:If you’re offsetting a taxable gain with a loss, then you’re saving the tax on the gains that...
As already noted, when used for investing, margin can magnify profits—and losses. While the value of the stocks used as collateral for the margin loan fluctuates with the market, the amount borrowed does not. As a result, if the stocks fall, the equity in the position relative to the si...
Do you need to file a tax return online by Self Assessment deadline of 31 January? Does the thought of how to do a tax return online make you quake in your boots? Are you new to Self Assessment and wonder where to start? While some people start early and file their tax returns on ...
A traditional IRA, for example, allows you to defer paying taxes on both your contributions and any income in the account until you make withdrawals, generally in retirement. You still pay tax on the balance in your account, but you pay it later. Bear in mind that the calculator does not...
Traders, on the other hand, buy and sell stocks with short-term profits in mind, aiming to capitalize on daily swings in stock prices. In other words, a trader might buy shares in a company and then sell them quickly—within the same week, day or even hour. ...