Tax Free Forex Copy Trading Revealed (UK Only)
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- Опубликовано: 27 авг 2024
- Forex copy trading when copying the correct trader of course can be an amazing way to make money online in 2024. However, tax implications can soon get out of control unless you use a method called spread betting.
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Which account can you pair with copy trading? Because Spread betting you cannot, but if you make a new account you have to pay tax for that account profits.
Hi Chris, am I able to make 2 accounts on copy trading app and switch between??
Hi Boss do you have to open a new account or can you change it on the axi site
Hey Steve, you have to open a new account but that can be done in your dashboard if you already have an account so you're just adding another on. Thanks
What sort of ROI would you look to make from copy trading?
Hey Brandon, it really comes down to which trader you copy but the one I show in the guide has very good returns. Thanks
Are you going to do a Cheltenham update on how much you made etc?
Hey Daniel, this year I didn't bet myself. I focused on helping others get on as many profitable bets as possible with some great results 👍
@@ProfitBoss Nice! Would like to see/hear what some of them results were etc if you’re making a video
Hi boss I’m trying to join auto betting on each way sniper can you help??
Hi Chris I do open axi account but it not access me yet I can’t pass in the question they ask ??? How can I do ??
Hi, it's best to take your time with the questions and use Google if unsure on anything. Thanks and good luck.
Hi, could you explain the risk with this. Mainly the risk of losing more than what's in your account.
I get that risk with investing is a thing, but the risk of gaining debt from investing seems extreme.
There is risk in this, the person you are copying makes money from commissions based on how many people are copying them. So they are only interested in fresh money (people) coming in to copy them. 99% of them do not care about the people copying them, so they will most likely blow your account, especially if there is not enough capital in your account. Copy trading is essentially giving someone the keys to your car and asking them to drive it carefully, there is actually no obligation for them to do so other than you putting trust in them in giving them the keys, how they respond to that is a whole other matter.
Hey Aaron, there is something called a hard stop loss which set at 100% means you would lose your money but no further money. To manage risk I would start with a 0.01 fixed lot size and deposit £500 then have additional funds ready if the first trades didn't go as planned so you could deposit more if required. Thanks
I get where you're coming from @jdawg89 but it's not completely true with the top traders. They do care about your funds and they are also trading with large amounts of money themselves so they don't want to lose that of course. They want to do well and perform for people so more people then copy and they can earn more commissions. Thanks
@@ProfitBossI would say it's really impossible to know that for certain. Certainly with holy grail his stats changed quite dramatically a few months ago when Pelican (who create the copy trading apps) changed the rules to say that copy traders who were topping up the balance to fudge their drawdown stats could no longer do that, I know for a fact Holy Grail was doing that.
Pretty sure your covered with “negative balance protection” with axi…… I could be wrong tho
What sort of bankroll do you need to start?
Hey Chris, I recommend a total bankroll of £2,000 to get started with but only depositing £500 initially then depositing more if required. It just depends how trades go. If they go well right from the start then you would only need the initial £500 but it's better to have spare cash in case. Thanks
Hiya chris, i sadly think your wrong on this one. If you earn too much income from your forex copytrading you will have to pay tax on it. Just think about it if you earn over £100,000 doing it, do you really think the taxman will not want a cut out of it 😬 just be careful with your viewers on this one no one will want a huge taxbill on their door 👍
You are taking rubbish. We have spread bet for years and no tax.
@@nicky77uk1 how are my talking rubbish 🤔 if your using a copytrader and following a signal it goes down as an investment which is capital gains, it literally says on the website, plus i have had tax advice 🤣🤣 Don't get caught by hmrc otherwise you will be facing a huge fine and interest in what you owe 👍
@@nicky77uk1 good luck when hmrc catch up with you thats all I'm saying, you will have to pay back interest on top. Forex comes under capital gains what you are doing is not spread betting 🤦 you are following a full time trader 😂
Hello bro,
U need a professional RUclips thumbnail designer?
Let me know please?
Thanks
When copying a trader can you see all your open trades on your MT4 account app?
Hey Scott, you can see them all in the Axi copy trading app. Thanks
@@ProfitBoss AHH ok I used to have the meta trader app but it seems pelican have teamed up with Axi
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