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financial transaction tax

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Don't Poke The Bear!
Los Angeles, California Republic
 
Trading Experience: None
Platform: Sierra Chart
Broker/Data: CQG
Favorite Futures: ES
 
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canoekoh View Post
so if i buy and sell 1 ES contract which has a notional value of $135,000, I have to pay $270 in tax? (0.1% tax)

what?????

so i'd have to go 22 ticks in profit just to break-even? surely that can't be right.

but in the case that FTT actually passes in the US, it should only increase costs for US traders, right? if i am for example, a Singapore citizen, trading through a US futures broker, would the FTT affect me or is it something that's passed along to anyone placing trades through a US exchange?

I think they are talking primarily about stock/equity trades. I'm not quite sure how they would address leveraged instruments. Some versions of a FTT just want to tax HFTs. Its way too early to know what it would look like in the end.

Know The Rules Well So You Can Break Them Effectively

Last edited by srgtroy; February 8th, 2019 at 07:51 AM.
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