Unlock expert analysis and forecasts in the FXTM mid-year market report.

Here's what's inside:

• A quick recap of market trends in 2023
• Forex market insight & analysis
• Commodity market insight & analysis
• Key opportunities for the rest of the year
• And much more!

Due to the upcoming holiday on US Independence Day 2023, we’ll be making some temporary changes to FXTM’s trading schedule from 03.07.2023 to 04.07.2023.

You can see the updated schedule for the affected instruments below. If your instrument isn’t listed, then trading will continue as normal.

Follow these steps to enter your TIN on MyFXTM:

• Log into your dashboard
• Click on ‘My Profile’
• Scroll down to the bottom right of the page
• See the section ‘Tax Identification Number’
• Enter your TIN in the field
• Save your changes by clicking ‘Submit’

If you don’t have a TIN, you’ll have to give the reasons as to why not, considering your local tax laws and CRS regulations.

You’ll need to contact your national tax authority and follow their steps to obtain your Taxpayer Identification Number (TIN). Once received, and if required by your local tax authority, be sure to report your trading income on your tax return, to avoid any possible penalties and fines and be compliant with laws and regulations applicable to you.

To help fight tax evasion and to protect the integrity of tax systems, governments around the world introduced a system for automatic exchange of information on financial accounts between countries. This system is known as Common Reporting Standards (CRS) and is incorporated in Mauritius laws.

Regulations based on the Organization for Economic Cooperation and Development (OECD) Common Reporting Standard (CRS) require Financial Institutions (FIs) to collect and report certain information about an account holder’s tax residence.

Each country or jurisdiction has its own rules for defining tax residence, which are outlined on the OECD website. 

Generally, you’ll find that your tax residency is the country in which you live. But there are circumstances where you may hold tax residency in another country, or in multiple countries at the same time.  

As a financial institution licensed and regulated in Mauritius, we’re legally required to collect, verify and share customer details, such as country of tax residency and financial account information, with the Mauritius tax authority. They, in turn, under intergovernmental agreements, share this information with the tax authority of the country, or countries, in which the customer is, or potentially is, a tax resident.

Yes, although this is dependent on the laws of the country of your tax residency. Profits from trading may be treated as income, added to your total income, and taxed according to the tax regime you fall under.

Yes, it’s possible.

Tax residency means you’re a tax resident of a country under its national tax laws. You or your income may, however, be exempt from taxation based on certain national tax laws or tax treaties. As a result, it’s possible to be a tax resident of a country and not be obliged to pay taxes in that country.

Tax residency means the country in which you’re legally obliged to pay taxes. This can be the same country as your physical residency or citizenship, but it may also be in another country, depending on the countries in question.

You may also have tax obligations in more than one country. In these instances, you may have more than one Taxpayer Identification Number (TIN). If you have multiple TINs, please raise a ticket to contact our customer support team.

An overview of the tax residency rules applicable in various countries can be found on the OECD website. If you’re uncertain about your tax residency, you should contact your tax advisor or local tax authority.