Basically i don’t want to pay tax on my forex earnings, i pay enough in my regular job. I live in canada and trade forex using a UK based regulated platform. I have Citizenship in Canada and Ireland and have active bank accounts in both countries. Because I live outside of Ireland for More than 183 days I do not need to pay income tax in Ireland, so if I when I want to withdraw money from my trading account i have it transfered directly to my irish bank account i can keep it here earning interest and not subject to any tax. Is it true Forex trading brokers (such as FXCM which is the platform I use) will not disclose account details to gov agencies? Therefore If Canadian revenue does not know I have made this money and the money I have in Ireland is tax free.

Thanks to anyone who has info on this subject

Canada taxes its residents on worldwide income.

If the forex account is based in the UK, it is considered UK-source income and you are also taxable in the UK as a non-resident.

What you are describing is tax fraud and carries penalties and prison terms.

Good luck with that.

I have got to make my assignment on forex trading systems of any four countries,one of them is UK.
Can some1 plz tell me where i can find information about the forex trading system in UK or US or China.
Any link for online forums wud be good as well.

thanx

A great forex system means you need to have high probability trades. You also need to be aware of all the currency pairs in real time. Hopefully this blog can help. http://www.whatisforextrading.com/blog/ Remember, no trading will be fool proof, so be cautios about the claims some trading systems make.

where I can find the online forex broker that regulated either by CFTC in the US or FSA in the UK or by both the regulators?.

If you really want to trade FX, try the CME. The futures are pretty heavily regulated by the government, unlike spot trading, which is mostly a bunch of bucket shops trying to run small investors out of their money, in my opinion.

which is invoiced in the UK in Sterling. My customer asked me to quote him a price in $ and I translated the final gbp price to $ in a straightforward conversion with the spot rate ($ raw material + € conversion and added value, translated to gbp, then translated to $) My customer however thinks he would get a cheaper price if I took the € conversion added value cost, added it to the $ raw material and quoted starightforward in $. However I look at this I come up with the same price. Can someone please verify that my customer is incorrect and explain the theory behind this?

Now im trying to get my head around what you mean, but as i understand it here i go…
In theory it wont be any different for you because no matter how you convert it, you will still be getting the same amount of money. However for you buyer if the exchange rate is better for $ or Euro or £ (because i cant quite work out which i was for conversion with this) then they will be getting it for a cheaper price.

I hope this helps, as i said from what i can work out, this is what you are getting at.

Martin

Edit - I reviewd my previous answer and reckon this is more what im getting at. Sorry i cant be of greater help.