If someone is able to make money on Forex consistently, then there is no point in evading taxes. But the problem is that for many, trading is an unstable source of income: today you make money, tomorrow you make a loss, so such traders do not think much about the mandatory payment of taxes)).
Of course, you can trade with such a deposit size. But for this, it is better to open a cent account, where you will have 1000 cents on your account and will already have the opportunity to trade with risk control.
If you have a job and do forex on the side, you should actually get money back each year when you file for taxes.
Opting for offshore brokers can carry risks, including regulatory issues and lack of investor protection. Research the broker’s reputation and regulations. Regarding taxes, you may still owe taxes on foreign earnings, depending on your country’s laws. Consult a tax professional for guidance on reporting and compliance.
Offshore brokers can offer benefits like lower taxes and better leverage, but they come with risks such as less regulatory oversight. It's essential to research the broker’s reputation and regulatory status. As for taxes, it depends on your country’s tax laws. Consult a tax professional to ensure compliance.