Any input on these two systems - thanks in advance

[fxtrader1]

Hi all,

I'm a total novice looking to get my feet wet. Have just read about Fx53.com and Keith Cotterill's Ultimate FX Predictor but not yet tried either (big price difference between the two). Does anyone have any experience of either they would like to share? Also, is it true that FX profits are tax-free as I have heard conflicting accounts here...?

Thanks

P.S. Having since read the posting guidelines I will state upfront that I have no affiliation to either of the above programs and am just seeking feedback.

 

[mysterg]

Hi all,

I'm a total novice looking to get my feet wet. Have just read about Fx53.com and Keith Cotterill's Ultimate FX Predictor but not yet tried either (big price difference between the two). Does anyone have any experience of either they would like to share? Also, is it true that FX profits are tax-free as I have heard conflicting accounts here...?
QUOTE]

Hello. If you do a forum search on fx53 you'll pick up a thread where a couple of people are using the fx53 system. I haven't read anything about the other one, it's fx53 I have interested in.

If you place your trade directly with a forex broker such as the one you download your trading platform from, the profits are taxable. If you place your trade with a spread betting company like igindex the profits are tax free as these companies are registered bookmakers, and profits from gambling are tax free.

 

[fifty2aces]

You wouldn't have to pay tax on either system, mainly due to the fact that neither will result in you making money.

Look through some of the previous posts regarding systems, you'll see numerous arguments against paying for a system, along with support for various systems by people with suspiciously low post counts.

If you want to make money trading, learn how to trade - no-one's going to sell you a system worth millions for £100.

 

[shadowninja]

 

[mysterg]

You wouldn't have to pay tax on either system, mainly due to the fact that neither will result in you making money.

Look through some of the previous posts regarding systems, you'll see numerous arguments against paying for a system, along with support for various systems by people with suspiciously low post counts.

If you want to make money trading, learn how to trade - no-one's going to sell you a system worth millions for £100.

OK probably better advice!

I'll keep hoping that they'll sell one that makes thousands though