Due to the upcoming UK Summer Bank Holiday 2023, we’ll be making some temporary changes to FXTM’s trading schedule from 25.08.2023 to 29.08.2023.
You can see the new schedule for all affected instruments below. If your instrument isn’t listed, then trading will continue as normal.
China surprises with rate cut, US retail sales in focus
China’s central bank hijacked the headlines on Tuesday morning after unexpectedly reducing a key rate by the most since 2020 to shore up its weak economy. However, Asian markets displayed a mixed reaction with sentiment whacked by a barrage of disappointing China data published after the rate decision.
Traders spooked by weakness in Chinese data
Unlock expert analysis and forecasts in the FXTM mid-year market report.
Here's what's inside:
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.
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Instrument |
03.07.2023 |
04.07.2023 |
Follow these steps to enter your TIN on MyFXTM:
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.
