Hello, I'm new. How's everyone?
I'm new to this whole trading thing, and was interested in entering the forex market. I'm currently trying the practice account using the FOREXTrader platform. I think I've done quite well so far (got the practice 50k account to 75k so far). The problem is that I don't know where I stand as far as being taxed (by the IRS?) is concerned. I'm a Filipino citizen, currently residing in South Korea as a grad school student. I was planning to try starting one of FOREX.com's mini accounts (I assume they would be considered a US based broker?), but got lost in the tangling web of tax info. I would like to know if I have to pay profit tax to any of the three countries. Any help would be greatly appreciated! Thank you!
Darrell
I'm new to this whole trading thing, and was interested in entering the forex market. I'm currently trying the practice account using the FOREXTrader platform. I think I've done quite well so far (got the practice 50k account to 75k so far). The problem is that I don't know where I stand as far as being taxed (by the IRS?) is concerned. I'm a Filipino citizen, currently residing in South Korea as a grad school student. I was planning to try starting one of FOREX.com's mini accounts (I assume they would be considered a US based broker?), but got lost in the tangling web of tax info. I would like to know if I have to pay profit tax to any of the three countries. Any help would be greatly appreciated! Thank you!
Darrell
Last edited: