Forex Trading Lessons: A Must For Forex Beginners

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According to the investor's complaint, he opened an account to trade with Rui Win Capital. After paying taxes and deposits, Rui Win Capital still won't let him withdraw his funds. Currently, without any reason, his Rui Win Capital Ltd account has been frozen and the customer service has disappeared.
Complaint details: https://www.fxgecko.net/en_US/complaint/7896.html
FxGecko has sent the complaint to Rui Win Capital but has not received a reply yet.
FxGecko APP shows that Rui Win Capital has a rating of only 2.2 and its forex trading or brokerage business is not regulated and investors' funds are not protected.
In addition, Rui Win Capital is associated with a number of brokers that have run away and you need to be aware of other brokers associated with them.
You need to be wary of scammers who pretend to be legitimate brokers to scam investors' money.

And do not to trust withdrawal schemes that require credit scores, deposits, tax payments, bank fees, etc.

https://preview.redd.it/shuqw7qu6wq81.png?width=749&format=png&auto=webp&s=7db15dcd22d877d3169be964727d4ec8a1532df0
FxGecko reminds you that forex scam is everywhere，you'd better check the broker's information and user reviews on FxGecko before investing.
You can also expose forex / crypto scams on FxGecko, FxGecko will do everything in its power to help you and expose scams, warn others not to be scammed.
In addition, scam victims are advised to seek help directly from the local police or a lawyer.
Don't trust individuals or organisations who claim to be able to get your money back - they may be selling hope and scamming you again. This is especially true if they ask you to pay in advance, which is a "recovery scam".
Welcome to join HitoRank community, where the latest broker information and complaints against brokers are posted daily. Attention regularly can help you effectively avoid encountering scams.

Earlier this tax year I had an inheritance come through. I had this money sat in my Shinsei account in CAD as I had a feeling the yen might weaken. I then waited and converted the money a while later once the CAD had gained against the yen, thus I made a profit, the profit is over the 200,000 yen limit.
I have a salaried job but no side business, this was a one off windfall. How do I go about declaring this and paying the (20%??) capital gains tax?

Hello, I have been trading since the start of the pandemic, and I'm now at the point where I get payouts ranging from 400k - 950k php.
I've always been told that forex trading is not yet taxable here; but now that I'm earning a hefty sum every month, I wanted to be sure.
Do note, these profits are not gains from my own money, but rather a prop firm's. Prop firms are trading companies offering equity to traders who have passed their challenges/tests. Once passed they are given an account (usually demo accounts) and whatever profit the trader makes on that account, they are given a percentage.
In my case, I have a 100k usd funded account with a prop firm in which I get paid out biweekly.
Should I be doing something about taxes, may kailangan ba gawin para maiwasan ang kung ano mang complications in the future?
I have no knowledge whatsoever about taxes and whatnot, all I know is how to trade.
Thank you.
edit: Took out the prop firm’s name as someone got triggered and called this post a scam advert. It’s not, I really am just looking for tax advice.

Long time lurker here. Sorry for the total newbie question but I’m trying to figure out how futures/ forex contract trades are taxed. I understand that futures are taxed differently than normal stocks with the 60/40. Do I get taxed on every trade I make? Or is the tax applied to what I have made net at the end of the year? I have been researching online and YouTube and cannot seem to figure it out.
I have been practicing with a paper account and have been doing pretty well. I just wanted to clear this up before I jump in and start trading with my real account.
Thanks in advance!

I’ve used the platform for stocks but never forex. Any other general thoughts are appreciated. I’m in the US. Thanks.

I am a US/Japan national, considering moving to Japan from the US.
With ETFs in a US brokerage account, and holding a decent amount of USD acquired at pre-2022 exchange rates, what is the best way of handling ETF distribution taxes on the Japan side?
When an ETF distribution happens (in USD) I would like to split off the amount I need to pay taxes (20%?), and re-invest the rest. Is there a sensible way to do this, without also ending up with a forex gain liability? Getting taxed more because I had to do currency conversion to pay taxes seems unavoidable, and because of the cost-basis of my USD the "re-invest" portion also seems like it would be a taxable event because I am spending USD.
Additionally, if people have experience/advice with handling "I moved from the US to Japan, and I have a (Roth) 401k", that doesn't involve tax evasion or an accounting nightmare, that too will be helpful.
Thanks in advance!

My name is Lora. This is me. Unfortunately this doesn't happen to just cross boarder workers, it has happened to others in Canada. My bank account is unfrozen and I now have to appeal to get my money back which will take months and not a guarantee.
https://www.cbc.ca/news/canada/windsocross-border-workers-cra-windsor-1.6682370

I recently started forex trading i grew my account from £500 to £10,000 in just less than a month i was so happy and i got carried away then i put too high lot size on gold and lost my full balance :(
Has this happened to anyone else ?

Hey guys recently I’ve become a prop firm trader for MyForexFunds and was wondering if I’m liable to taxes on a funded account or not and if so is it the CGT of 33% or the 52% income tax. Thanks in advance

Here is the complaint of the customer against Shenghui Group Ltd：

In the form of a romantic scam, a Chinese friend approached me, luring me to invest in the shenghuigroupax.com platform (formerly shenghuigroupfx.com)
There were also a host of other addresses of the platform: shenghuigroupac.com , shenghuigroupbx.com ,
shenghuigroupab.com ,
shenghuigroupaa.com
He said that it took at least $30,000 to invest, he lent me $17,000 by depositing it directly into my mt5 account (does it make no sense why he didn't transfer it to me to close the account but directly transferred to mt5 account, not showing me the transfer receipt).
The rest I had to pay $13,000 through a personal account that was supposed to belong to the platform. After conducting some transactions, I placed a withdrawal order, but the platform required to trade 90% of the capital to be able to withdraw, soon they locked my account and asked me to pay the 5% ~$3000 ice break fee for saying that there was malicious behavior. This money was used to ensure my account was secure, which would then be refunded to my account, but they did not refund it to the account as they said.
Then the other friend took me to invest, the interest went up to $61,099 and I asked for a withdrawal, which was again rejected and asked to pay personal income tax of 15% on the total profit ~ $5000. I paid $1,000, and the friend again said to lend me the rest, but then he said that the system only gave me 20% of the box, and I had to take care of myself (he paid $979 to the client but didn't show me the receipt). I contacted to withdraw the amount equivalent to the amount of tax paid, but required to pay all the taxes to be able to withdraw.
By this time I had learned that it was a scam, there was no reputable company that asked to pay taxes to withdraw my original money. Then they said that if I didn't pay taxes they would freeze my account permanently. After learning that I never paid taxes, they proceeded to place short orders to burn my account, then locked the account and could not trade.
Consider carefully when someone asks you to invest and contribute capital to you to invest, it's all just a scam, there's no tax-paying platform to withdraw the original money, the more no platform puts an order to burn the account and lock the account in such an unreasonable way.
Shenghui is a scam platform, please return my original amount of $17000.

Complaint details: https://www.fxgecko.net/en_US/complaint/8131.html
FxGecko has sent the complaint to Shenghui Group Ltd but has not received a reply yet.

https://preview.redd.it/0weak48eee191.png?width=1178&format=png&auto=webp&s=f3fd5eba2ac6e507cc901f60508c6731a780327e
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About Shenghui Group Ltd

FxGecko APP shows that Shenghui has a rating of only 2.1 and has been around for less than 1 year.
Although Shenghui Group Ltd claims to be an award-winning broker that specializes in online Forex and CFD trading services.
However, a look at its website reveals that the broker operates almost anonymously, and its website lacks details such as address and contact numbers, and does not provide any valid legal documents.

https://preview.redd.it/37npzhnofe191.png?width=1903&format=png&auto=webp&s=b3f2d56b706a46fc90f0b305ef827657f91e9c34
More importantly, as a forex broker, Shenghui Group Ltd is not licensed by the regulator for forex trading, which means that Shenghui Group Ltd is not regulated. There is greater risk of fraud when investors transact on platforms operated by unregulated entities whose backgrounds and operations cannot be easily verified. Once you make a deposit with them, you will most likely end up not being able to withdraw a single penny.
Therefore, we advise you to avoid such brokers and not to provide them with any personal information.

https://preview.redd.it/n37958glee191.png?width=1083&format=png&auto=webp&s=ed9f7fa71e4bffa0041decdd1a0d2fe09afcc21d
FxGecko reminds you that you should always be cautious when you come across investment opportunities that promise high returns with little or no risk. These are likely scams.
You should "ask, check and confirm" before investing. You can check the broker's qualification information and complaints on FxGecko's website to avoid any potential scams.
You can also expose forex / crypto scams on FxGecko, FxGecko will do everything in its power to help you and expose scams, warn others not to be scammed.
Welcome to join HitoRank community, which is regularly updated with information on the Forex market and trading brokers, as well as issues of investor complaints against brokers. Keeping a regular eye here will help you improve your market acumen and avoid common investment scams.

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Forex Trading Lessons: A Must For Forex Beginners

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Forex Scam Alert：Beware of Rui Win Capital scam! They ask investors to pay taxes, pledges, but still can't withdraw their funds, and finally freeze investors' accounts and customer service disappears!

And do not to trust withdrawal schemes that require credit scores, deposits, tax payments, bank fees, etc.

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Forex Scam Alert：Shenghui requires its clients to pay 15% tax in order to withdraw their principal, otherwise their accounts will be permanently frozen. This is a scam, please stay away from Shenghui Group Ltd!

About Shenghui Group Ltd

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