Forex Trading Online Service Alpari?
Tuesday, April 22, 2014
, Posted by Ryanita at 8:57 PM
Q. http://www.alpari.co.uk/
I know what the company does on a very brief note, such forex trading online using various software etc. But What I wanted to know is, what the hell is a PIP! also what is there jurisdiction limitations so what services can they offer and cant etc.
Also what makes a good online forex trading account etc. I was reading the not receiving re-quotes is good etc.
I know what the company does on a very brief note, such forex trading online using various software etc. But What I wanted to know is, what the hell is a PIP! also what is there jurisdiction limitations so what services can they offer and cant etc.
Also what makes a good online forex trading account etc. I was reading the not receiving re-quotes is good etc.
Answer
A pip, depending on the currency is 1cent so when trading Cable (GBP/USD) you place a trade with a profit limit level of x number of pips - 20 pips would be 20 cents and so on.
I use Alpari for the charts on the Metatrader platform they use - which you can download for free. Their spreads are pretty good, but for tax reasons I mostly use IG Index for trading, which is a spread betting platform.
Not sure about the jurisdiction limitations you refer to - without knowing which country you are based in. If you are based in the UK there are none I know of.
What makes a good account is stability of the platform (most FX providers tend to use Metatrader so that isn't really an issue) and speed of processing orders - you will get some slippage when the market is moving very quickly, the best way to minmise that is by using OTO orders (orders to open) that automatically trigger an order when a price reaches a certain level. Most important of course is the spread - e.g the number of pips the provider charges for entering a trade - which does vary enormously.
A pip, depending on the currency is 1cent so when trading Cable (GBP/USD) you place a trade with a profit limit level of x number of pips - 20 pips would be 20 cents and so on.
I use Alpari for the charts on the Metatrader platform they use - which you can download for free. Their spreads are pretty good, but for tax reasons I mostly use IG Index for trading, which is a spread betting platform.
Not sure about the jurisdiction limitations you refer to - without knowing which country you are based in. If you are based in the UK there are none I know of.
What makes a good account is stability of the platform (most FX providers tend to use Metatrader so that isn't really an issue) and speed of processing orders - you will get some slippage when the market is moving very quickly, the best way to minmise that is by using OTO orders (orders to open) that automatically trigger an order when a price reaches a certain level. Most important of course is the spread - e.g the number of pips the provider charges for entering a trade - which does vary enormously.
Do UK Residents Pay Tax On Forex Profits?
Q. Well, simply put; do you need to pay tax on profits earned trading forex if you're in the UK, and at what percentage, and what amount?
It isn't really a case of 'of course', as spread better's don't.
What makes me question it is the following:
- Any foreign currency held for your own or your family's personal use outside the UK (for example, if you've made a gain because of a change to the exchange rate).
It isn't really a case of 'of course', as spread better's don't.
What makes me question it is the following:
- Any foreign currency held for your own or your family's personal use outside the UK (for example, if you've made a gain because of a change to the exchange rate).
Answer
Petrusclavas: No wonder HMRC gets bad press, if you are to be regarded as a typical Officer. The training standards must have slipped since I did mine all those years ago. You just embarrass yourself with some of your attempts.
Where in a set of accounts will you see bank and cash? Definitely not in the trading account. You will see them in the balance sheet under assets. This is because a bank account and cash are capital asset. What does that tell you about any gain that may arise on those assets? A "capital" gain, perhaps?
In answer to the questioner, it is unlikely that you are trading. You are buying an asset that you hope will realise a gain, the same as you would buy stocks and shares (which also are capital assets). Any profits (gains) you make in a year may give rise to capital gains tax.
Petrusclavas: No wonder HMRC gets bad press, if you are to be regarded as a typical Officer. The training standards must have slipped since I did mine all those years ago. You just embarrass yourself with some of your attempts.
Where in a set of accounts will you see bank and cash? Definitely not in the trading account. You will see them in the balance sheet under assets. This is because a bank account and cash are capital asset. What does that tell you about any gain that may arise on those assets? A "capital" gain, perhaps?
In answer to the questioner, it is unlikely that you are trading. You are buying an asset that you hope will realise a gain, the same as you would buy stocks and shares (which also are capital assets). Any profits (gains) you make in a year may give rise to capital gains tax.
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