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Is it okay to trade Forex in America with a student visa?This coming fall, I will be going to college in America. I'm not a U.S. citizen/resident, and so I'd have to go with an F-1 student visa, meaning I can hardly work there. But I was wondering if I was allowed to trade in Forex or invest in stocks while I'm there.. Is it legal? Because I mean, Forex is technically working internationally.. Please help! I'd appreciate sources.
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Tags: Chart, charting, forex, futures, option, options, stock, Stocks
August 23rd, 2009 at 2:14 pm
If you're going to trade forex, then it won't matter.
You'll lose whatever capital you try to trade on, no matter what system you chose.
August 23rd, 2009 at 2:49 pm
The IRS requires banks, stockbrokers, casinos, etc. to report who they paid money to, above a certain amount ($10 to $1,200??) (e.g. interest, dividends, gambling winnings, etc.) via a Social Security or ITIN number. Without a verified number they must withhold some amount (20% to 35% ??) of any funds due you and send them to the IRS to cover any possible taxes due.
In your case, you'd get a ITIN (from http://www.irs.gov) to file with these companies and use it to file your US federal income tax form.
Being a foreign national student may exempt you from actually having to pay US federal income tax or it may be a credit taken on your native country's tax system. But you'll still need a verified number before you can apply for an exemption or a foreign tax credit.
August 24th, 2009 at 1:36 am
There are many services out there that will take your money to trade Forex and give you a percentage return. However most of them are scams that will take your money and run. I know of no reliable company that will invest Forex for you.
August 24th, 2009 at 4:15 am
Hi,
Different countries have different laws.
Generally speaking, if you're just trading for your friends and relatives, you probably don't need to be registered.
However, if you're looking to trade professionally (on behalf with clients), then it's a more complicated matter.
Hope this helps.
August 24th, 2009 at 6:33 pm
The good thing about forex trading is that you can learn it risk free. Yes, risk free! All you need to do is open a demo account with any forex broker. You can do that in five minutes on the internet and start with forex trading. On the demo account, you will be provided with real time data that you can use to make buy/sell decisions but you will be using fake or virtual money. Since you are not using your real money, you are not going to lose even a single cent.
If you want to play tennis you need to practice. Same with forex trading, with a practice of a few weeks you will be confidant enough to start live trading.
The sites you can refer for forex trading tips, recommendations, news and updates are:
August 25th, 2009 at 3:34 am
I think the trader's forum with the most number of members on the internet today is http://elitetrader.com. They have separate threads for stocks, forex, options and everything else related to trading the financial markets. They also have a chatroom that gets busy when the markets are open.
You can also try http://moneytec.com, and http://trade2win.com
Cheers!
http://jsforex.blogspot.com
Managed Accounts in Forex Trading
August 25th, 2009 at 10:05 am
you can goto
http://www.fxcm.com
http://www.gftforex.com
Start witha a demo account first..
http://the-forex-trading.blogspot.com
August 25th, 2009 at 1:49 pm
invest in something safer
take a look at http://www.wwipg.com
Thanks
August 25th, 2009 at 9:36 pm
Go to a bookstore and load up on books on technical analysis. Don't worry if the examples are from stocks or futures. The ideas are the same for forex.
Most forex dealers give you charting tools for technical analysis on the trading platform they provide free when you sign up.
September 6th, 2009 at 8:19 am
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