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Favorite Futures: futures (CL and ES),forex,Options
Posts: 81 since Aug 2011
Thanks: 30 given,
18
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Any full time traders in Canada?
Dear all
I am planning to move to Ontario canada this summer.
I am wondering about, day trading status in regards to taxation and
regulations in Canada or any related issues.
Any help or feedback on this subject is highly appreciated.
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This post has been selected as an answer to the original posters question
Hey Guss,
There are tax advantages to trading in Canada. Trading is taxed at about half the percentage of a salary or interest on bank accounts. As an example, I paid 20% on my revenues from trading last year, wich is exceptional in this country.
This post has been selected as an answer to the original posters question
One advantage is the investment protection plan. I was an MF Global client I received 100% of my account from the trustee . As far as I know US based clients are still waiting with little hope. I certainly hope they recover their money. All funds were accounted in Canada however there also is $1,000,000 insurance on futures accounts held in ontario . There are only a few brokers to choose from.
