I want to start trading currency on the foreign exchange but am not sure if I would need to report my returns as income on my federal income tax return. If I do need to report it, how so?
Yes you are supoposed to claim any income tha tyou receive on your taxes.
{ 3 comments }
I would like to try currency trading. Should I contact, say for example, a bank in England to buy Pounds directly, or should I use an intermediary like Scott or Ameritrade?
There are many online forex trading companies you can try but at the same time there are many scam and phishing websites too. BEWARE!
{ 1 comment }
What are the risk of trading currency with Forex trading? I live in China, but wants to try trading currency with Forex. One of the operator asked me to send the money across to them in USA and start trading in minutes time. I don’t know much about currency trading but they said they will offer me a course to get me started. Do I engage in this business?
Like everyone else has said you need to take your time when deciding to trade the Forex market. That being said, if you are willing to learn how to trade it properly and are patient you can make money even with a small ($500) account.
{ 3 comments }
I have been getting into FOREX trading lately. I am looking for some software that will let me track test accounts as well as schedule trades. Any suggestions?
I used the software I found at http://www.FOREXStrategyRobot.com
Thanks!
My favorite one Is IvyBot Automated Robot #1 It has Best Features It trades itself 4 Currency Pairs .
It Takes 24/7 Global Forex Market conditions . It gives 98% Gains so far me .
{ 2 comments }
I have heard a lot about Forex Trading recently and how you can start with a small amount of cash. Is there any free online courses or more information available?
The Advantage of Forex Trading is it lets you decide how much margin you are willing to use. If you choose a margin of 100:1 or anything higher, that’s gambling. If you choose anything below that margin and play very carefully with your money, you can make some very nice returns. How does 30 percent a week sound?
{ 1 comment }
