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  • #30,601
  • Feb 14, 2024 3:10pm Feb 14, 2024 3:10pm
Quoting navk
{quote} IIROC regulates fx market in Canada. The mt4 / mt5 brokers operating in Canada like OANDA, CMC markets are regulated by IIROC. Traders trading with such brokers need to provide SIN number in order for reporting profits/ Losses to CRA.
Those who has money to move country. Why can't they set up legal Offshore Company and trade from that company, I am sure NO CFTC can prevent that thing. It will be much cheaper.
  • #30,602
  • Feb 14, 2024 3:22pm Feb 14, 2024 3:22pm
NEW rule from skilled funded trader..
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2024-02-14 at 4.20.47 PM.png Size: 39 KB
Extreme gut feeling trader
  • #30,603
  • Feb 14, 2024 3:25pm Feb 14, 2024 3:25pm
Quoting montygoldy
NEW rule from skilled funded trader.. {image}
Gotta be super skilled now. Super skilled funded trader.
  • #30,604
  • Feb 14, 2024 3:26pm Feb 14, 2024 3:26pm
Quoting sampat
{quote} Those who has money to move country. Why can't they set up legal Offshore Company and trade from that company, I am sure NO CFTC can prevent that thing. It will be much cheaper.
the thing is in can work to bypass and be able to open account but at the end of the day if you live in a first world country, those countries has laws even if you have a offshore company and live in USA or europe your company will be considered a company where you live and you will pay taxes on that company even if it is created in dubai, you can not declare like many do but who knows in some 5 or 10 years IRS discovers and the penalties will be heavy
  • #30,605
  • Feb 14, 2024 3:29pm Feb 14, 2024 3:29pm
Quoting DeltaCapital
{quote} the thing is in can work to bypass and be able to open account but at the end of the day if you live in a first world country, those countries has laws even if you have a offshore company and live in USA or europe your company will be considered a company where you live and you will pay taxes on that company even if it is created in dubai, you can not declare like many do but who knows in some 5 or 10 years IRS discovers and the penalties will be heavy
Offshore companies are not only formed to evade tax, but also to save tax. If you pay taxes or don't take any income even IRS cannot do anything.
  • #30,606
  • Feb 14, 2024 3:32pm Feb 14, 2024 3:32pm
[quote=Takisd;14756283 Prop Armageddon has finally come. The method of regulation may not be the right one, but authority is necessary.[/quote]
Yeah, we spent close to one year just before MFF's case discussing the upcoming regulation on this forum. We knew the authorities werent going to sit idle when we saw how big the prop firm business had become. Now that the shaking has come, lets hope when the dust settles we can still continue to make virtual profits from our video games.
  • #30,607
  • Feb 14, 2024 3:35pm Feb 14, 2024 3:35pm
Quoting Inception12
{quote} Yeah, we spent close to one year just before MFF's case discussing the upcoming regulation on this forum. We knew the authorities werent going to sit idle when we saw how big the prop firm business had become. Now that the shaking has come, lets hope when the dust settles we can still continue to make virtual profits from our video games.
Anything is possible. I have made a lot from props in the last 4 years. I think they are a useful vehicle. But without long term data of users using props, the model is dead in the water. You need data to innovate.
  • #30,608
  • Feb 14, 2024 3:38pm Feb 14, 2024 3:38pm
Quoting Nsak3y
{quote}{quote}-Respectfully, which is it? Comprehensive solutions or a work in-progress? If you do not wish to share the information, then better to just be honest about that in lieu of purporting to have the answer to all of our problems.
If plain English, I’d read his posts. Too taxing on my brain (and I’m a chemistry prof.)
A snails pace wins the race :-)
  • #30,609
  • Feb 14, 2024 3:43pm Feb 14, 2024 3:43pm
Quoting montygoldy
NEW rule from skilled funded trader.. {image}
  • #30,610
  • Feb 14, 2024 3:48pm Feb 14, 2024 3:48pm
Germany and UK are now countries banned by Top Tier
  • #30,611
  • Feb 14, 2024 3:54pm Feb 14, 2024 3:54pm
Quoting navk
{quote} UAE is not Canada for living. You know what I mean.
You live what you want. You must to go 2 times per year in UAE. And...ZERO taxes.
  • #30,612
  • Feb 14, 2024 3:58pm Feb 14, 2024 3:58pm
Quoting Nehemah
Germany and UK are now countries banned by Top Tier
Maybe Pasqale had too much gains that 2.5 million payout trader from Germany trading Gold on Toptiertrader too as prop firm.
But UK and Germany for irregular trading patterns what is that ??? But of course US residents trading CFDs are still fine ? How is that ?

Furthermore, as of Monday, February 12, 2024, TopTier Trader will no longer extend its services to residents of the following additional countries:

  1. Viet Nam
  2. Egypt
  3. Pakistan
  4. Germany
  5. India
  6. Turkey
  7. United Kingdom
  8. Romania
  9. Kenya
  10. Czech Republic

This decision is prompted by irregular trading patterns observed within these jurisdictions. Please be advised that engaging in trading activities with these countries is strictly prohibited. Any such activity will result in immediate breach of our terms and forfeiture of profits without exception.


---------------

Takisd could you report them to MQ headquarter why are they still offering over MT5 CFDs to US residents while not allowing UK and Germany, heh ?

  • #30,613
  • Feb 14, 2024 4:02pm Feb 14, 2024 4:02pm
Quoting Tim_isoara
You must to go 2 times per year in UAE. And...ZERO taxes.
-This will depend on the circumstances of the individual.
  • #30,614
  • Feb 14, 2024 4:03pm Feb 14, 2024 4:03pm
Quoting Takisd
{quote} Anything is possible. I have made a lot from props in the last 4 years. I think they are a useful vehicle. But without long term data of users using props, the model is dead in the water. You need data to innovate.
Are you saying without US clients FTMo wont survive. I thought they are well positioned to survive this turmoil
  • #30,615
  • Feb 14, 2024 4:06pm Feb 14, 2024 4:06pm
Quoting Nsak3y
{quote}-This will depend on the circumstances of the individual.
No. To keep residency in UAE you must to go 2 times on the year. But for EU you can't stay more than 6 months in Shengen zone. So you need 1 state from Shengen zone an 1 from outside of Shengen zone.
  • #30,616
  • Feb 14, 2024 4:07pm Feb 14, 2024 4:07pm
Quoting Tim_isoara
No. To keep residency in UAE you must to go 2 times on the year. But for EU you can't stay more than 6 months in Shengen zone. So you need 1 state from Shengen zone an 1 from outside of Shengen zone.
-I am referring to your 0% tax claim.
  • #30,617
  • Feb 14, 2024 4:08pm Feb 14, 2024 4:08pm
Quoting Inception12
{quote} Are you saying without US clients FTMo wont survive. I thought they are well positioned to survive this turmoil
Takisd is 90% wrong. For him MFF is the best prop firm...MFF is death.
  • #30,618
  • Feb 14, 2024 4:09pm Feb 14, 2024 4:09pm
Quoting Inception12
{quote} Are you saying without US clients FTMo wont survive. I thought they are well positioned to survive this turmoil
FTMO should survive and lead a model to follow temporarily. But I do think EU will regulate very soon. FTMO likely will get that regulation due to resources of course.
  • #30,619
  • Feb 14, 2024 4:09pm Feb 14, 2024 4:09pm
Quoting Nsak3y
{quote}-I am referring to your 0% tax claim.
Yes. Read the answer. Call a layer.
  • #30,620
  • Feb 14, 2024 4:13pm Feb 14, 2024 4:13pm
Quoting TrAndy1
{quote} Maybe Pasqale had too much gains that 2.5 million payout trader from Germany trading Gold on Toptiertrader too as prop firm. But UK and Germany for irregular trading patterns what is that ??? But of course US residents trading CFDs are still fine ? How is that ? Furthermore, as of Monday, February 12, 2024, TopTier Trader will no longer extend its services to residents of the following additional countries: Viet Nam Egypt Pakistan Germany India Turkey United Kingdom Romania Kenya Czech Republic This decision is prompted by irregular trading...
If toptier is not already on regulator watch list I will be very surprised. I do especially like them writing Vietnam as two words.
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