Taxable Income for Forex Trading: An Academic Guide

5 min read

Taxable income forex is income that has been earned from trading in foreign currencies in the markets. This income is subject to the tax code of the relevant jurisdiction that the income was earned in, as well as any applicable international tax laws. Taxpayers who make a profit trading in foreign currencies must report it as part of their ordinary taxable income, and can use certain deductions to lower their overall taxes on the income. Transactions involving foreign currency can also be subject to decisions from regulatory bodies, such as the U.S. Securities and Exchange Commission, which can dictate when and how income and capital gains taxes apply.


What is the Financial Industry: A Comprehensive Guide to Forex Trading

6 min read

The financial industry Forex (Foreign Exchange) market is one of the largest markets in the world. It is a global decentralized market for trading of currencies. This market determines the foreign exchange rates for different currencies and facilitates the trading of currency. It is open 24 hours a day, 5 days a week, and is the largest and most liquid financial market in the world, with an estimated daily turnover of over 5 trillion U.S. dollars. With its large volume and liquidity, Forex market offers tremendous potential for investors to maximize their gains and minimize their losses. The market features a wide array of participants ranging from central banks, large financial institutions to retail investors. Moreover, as retail investors have easier access and more options to enter the market, the Forex market has become increasingly popular in recent years.