How to Register a Forex Trading Company

We employ a team of business start-up professionals who are trained to help and offer advice in relation to the many legal hurdles presented when registering a business for the Forex activity in the United Kingdom. The benefits of registering a company to start a Forex business with us: formally setting-up a FX company in Great Britain can be an intricate, drawn out Forex company set-up process. Coddan is well-established business start-up expert in helping both local and overseas customers in fully forming their FX companies with minimal time, effort and cost involved.

If you’ve any questions then please get in touch with us! Mail: info@coddan.co.uk. We aim to reply to all emails within 24 hours. If you are rushing please feel free to call us between 9.30am-6.00pm Monday to Friday by telephoning + 44 (0) 207.935.5171 or (0) 330.808.0089 (national rates) and chat further.

Setting-up a company for the Forex activity

There is no doubting that life as a Forex trader is very appealing to many people: you get the opportunity to own your time, be your own boss and work to your own schedule. In addition, there’s virtually unlimited potential for Forex traders to make income for anyone with a computer, an online connection and a modest trading bank. Unlike many professions, financial trading is not one, which requires specific qualifications such as degrees or courses.

It is said that 90 per cent of all day traders fail within their first year of trading; mainly due to the fact they had no logical trading plan. FX trading requires discipline, risk management and patience. That same trading discipline is required when it comes to managing your finances too.

Read:  Best Forex Trading App 2017 for Android

From day one you will need to decide whether to set-up as a sole trader or a company to record your annual profits/losses. Some people who choose to start out as a Forex trader may consider registering as self-employed, declaring their profits/losses as trading income and losses, while some will declare their profits/losses as capital gains/losses.

By setting up through a company, your trading profits will be taxed at the small companies’ rate of corporation tax. Any money you draw as salary must then be subjected to national insurance contributions via a PAYE scheme, as you will therefore be an employee or director of the company.

It’s a good idea to open a company for your Forex business if you envisage your business taking on additional traders who will therefore be drawing on a salary from the company’s profits each month.

In the UK, all foreign currency gains are generally taxed under capital gains tax (CGT). Forex trading is therefore chargeable as CGT and not income tax. However, those who opt to trade FX using a spread betting platform will not pay tax on gains as this is viewed as a gambling activity under UK legislation. Forming a company need not be difficult. At Coddan, we have a range of formation packages to suit your needs as a Forex day trader.

How to Register a Forex Trading Company

Source: https://www.coddan.co.uk/private-limited-company-formation/uk-forex-company-formation-service/

Posted by: derivbinary.com