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LimeHap

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LimeHap Occasional Contributor

LimeHap

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I have uploaded my documents a week ago. Today I can see the below message that we have verified your identity and address. However, I am still seeing the account status as Pending with the activate your account option. Please note I want to trade Forex Micro Lots through MT4 Platform so I am not sure if CFD was the option to select.

 

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Caseynotes Honoured Contributor

Caseynotes

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19 minutes ago, LimeHap said:

Please note I want to trade Forex Micro Lots through MT4 Platform so I am not sure if CFD was the option to select.

If you are a UK tax payer there are advantages to using the spread betting platform over cfd, once you have either you can easily get the other as you have already passed the verification process, you can also easily transfer money between the 2 accounts.

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Caseynotes Honoured Contributor

Caseynotes

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6 minutes ago, LimeHap said:

I'm not from UK, I'm from Pakistan brings another question in my mind. Do you have any idea if international clients like me being from Pakistan are exempt or still subjected to tax on their earnings?

ok, the sb platform is only available to uk residents, Pakistan will have it's own laws on what is considered taxable income and if losses can be claimed against but the usual situation is that profits from cfd's are taxable.

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LimeHap Occasional Contributor

LimeHap

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1 minute ago, Caseynotes said:

ok, the sb platform is only available to uk residents, Pakistan will have it's own laws on what is considered taxable income and if losses can be claimed against but the usual situation is that profits from cfd's are taxable.

No, what I want to know is does IG deduct any amount as tax from me on the income or profit of my trades for UK or Australia.

 

 

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Caseynotes Honoured Contributor

Caseynotes

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Just now, LimeHap said:

No, what I want to know is does IG deduct any amount as tax from me on the income or profit of my trades for UK or Australia.

 

 

no, IG are not a tax collector and are not even allowed to offer tax advice. If trading US stocks with whichever broker the US do deduct a US tax before settlement. 

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