Tax on earnings

Hello, maybe a stupid question as I am beginner, let’ s say I download a platform like metatrader and start to trade and earning money, do I have to pay tax on my earnings or the platform keep some fees from my earnings as tax or how that works?
Thank you

Whether you pay tax or not and how much you pay will depend on the type of market access and the laws of the country you are resident in. The type of platform is not a factor.

For example, in the UK -
trading forex by spreadbetting is tax-free
trading forex using CFD’s is taxed through Capital Gains Tax on the profits made (above a specified annual threshold)
the broker never collects the tax for you

Different countries have different tax laws, check yours.

1 Like

Thank you, I am resident in UK so on forex is tax free then.
Really helpfull, thank you

No - In the UK trading forex via spreadbetting is tax-free. But there is CGT on trading forex via CFD’s.

Agreed with @tommor - I’ve always heard that it is tax-free here in the UK. However probably wouldn’t hurt to consult a Financial Advisor if you’re unsure…

Spreadbetting in the UK is tax-free. Trading CFD’s in the UK is not tax-free.

I do love these questions ! :rofl:

Before you pay Tax - you actually have to make a profit ! :rofl: :rofl:

1 Like

If you are the UK resident, you will have to pay taxes on your profit. I’m not sure, but I think that you profit per month should exceed £1,000

The platform has nothing to do with the taxes you pay. You have to pay tax when the profits you make reach your bank account.

Spreadbetting forex in the UK is tax-free, no matter how much you win, regardless of other income, no matter what platform you use.