Forex trading permitted for F1 student?

Discussion in 'Forex' started by sundaram, Sep 28, 2009.

  1. sundaram

    sundaram

    Hi

    I wish to trade usd/jpy in mt4 platform in my son's account (to be opened) to improve his monetary position who is now in NY under F1 visa status.

    Is F1 student trading forex and earn money is permitted?

    Someone please answer.

    Regards
     
  2. Sure...why not? As long as you pay taxes.

    Are you classifying yourself as a professional trader for tax purposes? If so, ask an accountant.
     
  3. Lucrum

    Lucrum

    Sure, just tell them you're a "Foreign Exchange" student.


    :)
     
  4. 1/ you're proposing to trade under your son's name. if you don't declare it, it's illegal.

    2/ make sure you don't gamble away your son's "monetary position"
     
  5. cstfx

    cstfx

    F1 students are prohibited from earning income from sources other than a campus job of 20 hrs or less a year while in US.

    If you want your kid to "earn" profits from your trading forex in an account in his name, use one of the many non-US brokers that offer MT4 platform. Whatever income is made outside the borders of the US for foreign nationals is not taxed US. Don't know what your taxes are in home country, but this is for US taxes.

    Non-US MT4 brokers:

    FXCM UK
    FXPro UK
    Alpari UK

    just a few names to start. Probably some Cypress brokers you could use also.
     
  6. When you go bankrupt, do you plan to also ruin your son's credit history for 7-10 years?
     
  7. this is bullshit, capital gains are not considered INCOME for F1 visa purposes, i know tons of F1 people who ahve accounts with IB
     
  8. ROFLMAO! Joke of the day. :) Yeah, after quitting the financial markets several times, I took the last year and a half to plunge more seriously into the books and am now just starting to figure it out.