Prop firm trader

[cabalismo]

Hi im working with FTMO a prop firm currently a swedish tax citizen, looking for a solution to pay less tax as little as possible moving from sweden to get a tax residency is no problem as im working online with them but where and how should i setup the company. In future im hoping to trade my own capital so preferably a 0 % on capital gain country i was looking on Panama or Hong Kong, but im new to this help would be appreciated. Thanks in advance.

 

[aniglo22]

You shouldn't rely on prop firms as they will ban you if you are other a certain threshold .
You are just a normal contractor if you "trade" "for" a prop firm .
So you can just use the setups which are already discussed on the forum(use the search function) .
Costa-Rica with a digital nomad visa would work .

 

[cabalismo]

You shouldn't rely on prop firms as they will ban you if you are other a certain threshold .
You are just a normal contractor if you "trade" "for" a prop firm .
So you can just use the setups which are already discussed on the forum(use the search function) .
Costa-Rica with a digital nomad visa would work .

But thats only for year or two.

 

[SoNewToAllShit]

So you can just use the setups which are already discussed on the forum(use the search function) .

any examples you can say here for countries?

 

[aniglo22]

any examples you can say here for countries?

Malta/Cyprus/Uae/Paraguay/Georgia/Dominican Republic/Most Caribbean countries. You can use the search function to get more info.
The problem is that these prop firms will ban you for any reason or force you to go "live" with them(if you go live , you need to check with your finance authorities , because some require licenses to trade with someone else's money ) .
Most of these forex prop firms don't even have the tech to allow people to go live.
They will just pay from the pool of money they got of the challenges . But in total the challenges have an pass rate of <5% ( depending on the amount of phases and profit targets some are even lower than 1%)
I've got contracted by an prop firm software provider so I know these numbers.

 

[SoNewToAllShit]

That's very helpful @aniglo22

Can someone explain what is a PROP FIRM - I think I read it wrong and confused the word with something else?

 

[aniglo22]

That's very helpful @aniglo22

Can someone explain what is a PROP FIRM - I think I read it wrong and confused the word with something else?

They are offering that you are trading with their "capital" .
But before you need to proof that you are capable of it .
So you need to pass through 1-2-3 Phase (depending on the prop firm ) Challenges . In each phase you need to achieve some profit goal with minimal loss according to their goals .
If you pass them you can trade for example with 100k and you will be paid the profit . But you are not trading on a real account but on a demo account and they can manipulate trade execution etc..

 

[DeepDrilling]

But you are not trading on a real account but on a demo account and they can manipulate trade execution etc..

It sounded very good until you wrote the above.

If they can manipulate the trade etc, it is nothing better like any MLM scheme if you ask me !

 

[cabalismo]

I never experienced any manipulation on my prop firm

It sounded very good until you wrote the above.

If they can manipulate the trade etc, it is nothing better like any MLM scheme if you ask me !

I never experienced any manipulation on my prop firm, most of people that complain cant even trade for real,and look for mistakes in others. But if can trade and willing to make some effort it doesnt take that much time to get access to 1000000 and more and if you make 5-10% monthly it adds up quickly. But yes is not a easy game thats why 90% of people fail .

 

[TheCryptoAnt]

But if can trade and willing to make some effort it doesnt take that much time to get access to 1000000 and more and if you make 5-10% monthly it adds up quickly. But yes is not a easy game thats why 90% of people fail

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