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Ive (31f) been with my bf (32m) for 4 years. Overall I think it is a pretty healthy relationship. We both have the same background (Was with ex for 10 years with 2 kids) He treats me well, and respectable. He makes sure that every birthday is special for me. (3-4 day celebration). He texts me Good morning/ Good night every single day. He always sends me a gift on the holidays, that sort of stuff. He co-signed my apartment for me. He’s generally always there if I have a problem, he helps me solve it. I have no doubt that he loves and cares for me and even has rescued me financially a few times before (I’ve always paid him back and I buy him things as well). He also taught me how to produce my own extra stream of income. I don’t depend on him financially but he easily makes 3-4x more than I do. He works from home. He’s a forex tradesports better which requires a lot of research and generally has always made him unavailable throughout the day/week. Before covid we would get together every other weekend on Saturday to Sunday when we were both free from the kids. Although this has always been our norm and I’ve always had a problem with it but I never thought he was lying about anything and I’m an understanding person so I didn’t want to stress him out. The plan we always talk about is that he’s doing all of this to buy us a house then we’ll get married and move in together. He unequivocally believes it will all go very smoothly and I just need to be patient until it happens. Here Is where it gets tricky ... I always wanted some more normalcy like stay some nights at each other’s house/ talking on the phone at night, building a relationship etc , but we’ve never really had that. We’ve been together 3 years. I’ve never met his mothefamily/kids or anyone from his life besides 1 mutual friend. I’ve never been to his house, he’s never openly shared his address but never necessarily hid it either. He says he feels weird about having me at a place he used to share with another woman (his kids mother) .. His excuse is about meeting his family is that it’s not a big deal for him to bring someone home to his family because they aren’t super close and their opinion is not a huge factor, which I can understand because I’m not super close with my family either. But his mom has been living with him since the covid. He has also had his kids full time (1 or 2 days with their mom a month) due to covid because he has the safer living/school environment for them, so needless to say since covid started, we’ve seen each other maybe 1 time monthly. His excuse now is that he doesn’t want to danger his mom and kids which I understand. His stance is that he is dealing with the cards he was dealt (he has to do home schooling with the kids daily , he has to do his research, he has about 4 business partners who depend on him for forex/betting info, he literally has no time and the time he does have he spends it with me, a few hours a month) My stance is that when we truly want something, we make it happen. I’ve expressed this multiple times but he said it isn’t that easy. & He says that he doesn’t want to force things and would rather everything happens organically, which I too understand . I guess my problem is that I used to be excited about a life with him but overtime I’ve gotten so used to how our relationship is that the time apart doesn’t bother me anymore. I don’t care if we talk on the phone or not. He is easily one of the most attractive people I’ve ever seen, but the not seeing each other doesn’t bother me anymore. Ive never been crazy about sex but that isn’t exciting either. I do love him but Essentially I don’t get excited about us anymore. & I feel like a bad person for it. I’m worried that I’m making a mistake being immature by thinking that way. And I should focus on staying together because we already both talked about it being that way. Is this feeling of being out of love temporary? I have no doubt that he’s a good person, I just don’t if I’m setting my standards too low or if I’m just being spoiled and immature. I don’t know if I’m being a brat about it all or if my feelings are legit. I would love a fresh perspective, I’m very private about my life so I’ve never expressed this out loud before. Edit: Some things I left out. No one was ever married. The side piece thing isn’t logical to me because every time we’ve been away for more than 2 days , his ex sends me a message on fb trying to reach him ‘about where are the kids if he’s with me’ No doubt that his ex is not over the relationship (5 years later) and she keeps the kids with him because she knows it’ll tie his time up. Since he doesn’t work a regular job and is the sole financial provider he can’t say no. She tells him she works 6- 7 days a week at a hospital (guilt tripping him that she has to take care of herself now) so she has no time plus covid dangers, and he has to do it. If he says no, he’s afraid she’s going to move across country with the kids, So he does it.
For Canadian Clients of VantageFX (or Canadian Forex Traders in General)
As you likely already know, VantageFX will no longer service Canadians residents as of Nov 30th. This is unfortunate, since VantageFX has done an excellent job serving Canadian clients with higher leverage account options from a well regulated and trusted broker. Through contacts in the industry, we've been made aware of a new retail account offering at Pacific Union. Pacific Union has a good history of servicing institutional accounts and has only just started taking on retail clients, but they are positioned to service the Canadian clients in the space that VantageFX has left behind. Further, we were made aware of Pacific Union first by contacts at VantageFX, and then this recommendation was backed up by a trusted source who works closely with both companies. Again, to be very clear, this post isn't to give undue attention to some random broker.. we are providing this info because Pacific Union is a proper alternative for Canadian based traders that will no longer be serviced by VantageFX. On that note, I've updated the wiki to include Pacific Union Prime - https://puprime.com: Subreddit's Canadian Brokers Wiki Page The only major difference I have noticed so far is lacking MT5, but the word is that Pacific Union will be reviewing MT5 and other enhancements to their offing next quarter after they get past the launch of their retail offering. Key highlights from my perspective:
Up to 500:1 leverage available for Canadians, and while that much leverage may not be needed, even just 100:1 is decent compared to ~33:1 leverage set by IIROC with onshore brokers.
Client funds are segregated at an Australian bank, so you're getting some overlap of Aussie banking / regulatory rules and that's a huge plus when it comes to safety of funds and the finance side of things
No fee on credit card deposits / withdrawals, and no fee on Visa Debit and MasterCard Debit deposit / withdrawals. Transactions are completed within 30 minutes.
No fee on Interac e-Transfer deposits.
Remember, going offshore means you lose CIPF protection on funds, so a well vetted and properly regulated broker is a must! UPDATE #1: Oct 6th: Took this post off sticky and redacted some info as the connection between VantageFX and Pacific Union Prime was not "official". Pacific Union is still a great alternative / replacement for Canadian clients seeing higher leverage accounts and who are no longer serviced after VantageFX left Canada. UPDATE #2, Oct 8th: Adjusted this thread again to best reflect where Pacific Union Prime fits with VantageFX and former Canadian VantageFX cleints.
ATO Australian tax treatment for options trades 🇦🇺
I am posting this as I hope it will help other Australian options traders trading in US options with their tax treatment for ATO (Australian Tax Office) purposes. The ATO provides very little guidance on tax treatment for options trading and I had to do a lot of digging to get to this point. I welcome any feedback on this post.
The Deloitte Report from 2011
My initial research led me to this comprehensive Deloitte report from 2011 which is hosted on the ASX website. I've been through this document about 20 times and although it's a great report to understand how different scenarios apply, it's still really hard to find out what's changed since 2011. I am mainly relating myself to the scenario of being an individual and non-sole trader (no business set up) for my trading. I think this will apply to many others here too. According to that document, there isn't much guidance on what happens when you're an options premium seller and close positions before they expire. Note that the ATO sometimes uses the term "ETO" (Exchange Traded Option) to discuss what we're talking about here with options trading. Also note: The ATO discusses the separate Capital Gains Tax ("CGT") events that occur in each scenario in some of their documents. A CGT event will then determine what tax treatment gets applied if you don't know much about capital gains in Australia.
ATO Request for Advice
Since the Deloitte report didn't answer my questions, I eventually ended up contacting the ATO with a request for advice and tried to explain my scenario: I'm an Australian resident for tax purposes,I'm trading with tastyworks in $USD, I'm primarily a premium seller and I don't have it set up with any business/company/trust etc. In effect, I have a rough idea that I'm looking at capital gains tax but I wanted to fully understand how it worked. Initially the ATO respondent didn't understand what I was talking about when I said that I was selling a position first and buying it to close. According to the laws, there is no example of this given anywhere because it is always assumed in ATO examples that you buy a position and sell it. Why? I have no idea. I sent a follow up request with even more detail to the ATO. I think (hope) they understood what I meant now after explaining what an options premium seller is!
First, I have to consider translating my $USD to Australian dollars. How do we treat that? FX Translation If the premium from selling the options contract is received in $USD, do I convert it to $AUD on that day it is received? ATO response:
Subsection 960-50(6), Item 5 of the Income Tax Assessment Act 1997 (ITAA 1997) states the amount should be translated at the time of the transaction or event for the purposes of the Capital Gains Tax provisions. For the purpose of granting an option to an entity, the time of the event is when you grant the option (subsection 104-20(2) ITAA 1997).
This is a very detailed response which even refers to the level of which section in the law it is coming from. I now know that I need to translate my trades from $USD to $AUD according to the RBA's translation rates for every single trade. But what about gains or losses on translation? There is one major rule that overrides FX gains and losses after digging deeper. The ATO has a "$250k balance election". This will probably apply to a lot of people trading in balances below $250k a lot of the FX rules don't apply. It states:
However, the $250,000 balance election broadly enables you to disregard certain foreign currency gains and losses on certain foreign currency denominated bank accounts and credit card accounts (called qualifying forex accounts) with balances below a specified limit.
Therefore, I'm all good disregarding FX gains and losses! I just need to ensure I translate my trades on the day they occurred. It's a bit of extra admin to do unfortunately, but it is what it is.
This is the scenario where we SELL a position first, collect premium, and close the position by making an opposite BUY order. Selling a naked PUT, for example. What happens when you open the position? ATO Response:
The option is grantedCGT event D2 happens when a taxpayer grants an option. The time of the event is when the option is granted. The capital gain or loss arising is the difference between the capital proceeds and the expenditure incurred to grant the option.
This seems straight forward. We collect premium and record a capital gain. What happens when you close the position? ATO Response:
Closing out an optionThe establishment of an ETO contract is referred to as opening a position (ASX Explanatory Booklet 'Understanding Options Trading'). A person who writes (sells) a call or put option may close out their position by taking (buying) an identical call or put option in the same series. This is referred to as the close-out of an option or the closing-out of an opening position. CGT event C2 happens when a taxpayer's ownership of an intangible CGT asset ends. Paragraph 104-25(1)(a) of the ITAA 1997 provides that ownership of an intangible CGT asset ends by cancellation, surrender, or release or similar means. CGT event C2 therefore happens to a taxpayer when their position under an ETO is closed out where the close-out results in the cancellation, release or discharge of the ETO. Under subsection 104-25(3) of the ITAA 1997 you make a capital gain from CGT event C2 if the capital proceeds from the ending are more than the assets cost base. You make a capital loss if those capital proceeds are less than the assets reduced cost base. Both CGT events (being D2 upon granting the option and C2 upon adopting the close out position) must be accounted for if applicable to a situation.
My take on this is that the BUY position that cancels out your SELL position will most often simply realise a capital loss (the entire portion of your BUY position). In effect, it 'cancels out' your original premium sold, but it's not recorded that way, it's recorded as two separate CGT events - your capital gain from CGT event D2 (SELL position), then, your capital loss from CGT event C2 (BUY position) is also recorded.In effect, they net each other out, but you don't record them as a 'netted out' number-you record them separately. From what I understand, if you were trading as a sole tradecompany then you would record them as a netted out capital gain or loss, because the trades would be classified as trading stock but not in our case here as an individual person trading options. The example I've written below should hopefully make that clearer. EXAMPLE: Trade on 1 July 2020: Open position
SELL -1 SPY 85 PUT, exp 30 August 2020
Collect Premium USD$1 per unit, and brokerage USD$5
= USD$100 premium collected, minus USD$5
= Net amount of USD$95 collected
FX Translation rate on the date of the trade: AUD $1.00 = $USD 0.70
Net Premium Collected in $AUD
= USD$95 x (1/.7)
CGT Event D2 triggered and a capital gain of $135.71 is recorded
Trade on 15 July 2020: Close position
BUY 1 SPY 85 PUT, exp 30 August 2020
Pay Premium $0.50 per unit, and brokerage $5
= $50 premium paid, plus $5
= Net amount of USD$55 paid
FX Translation rate on the date of the trade: AUD $1.00 = $USD 0.60
Net Premium Collected in $AUD
= USD$55 x (1/.6)
CGT Event C2 triggered and a capital loss of $91.66 is recorded
We can see from this simple example that even though you made a gain on those trades, you still have to record the transactions separately, as first a gain, then as a loss. Note that it is not just a matter of netting off the value of the net profit collected and converting the profit to $AUD because the exchange rate will be different on the date of the opening trade and on the date of the closing trade we have to record them separately. What if you don't close the position and the options are exercised? ATO Response:
The option is granted and then the option is exercisedUnder subsection 104-40(5) of the Income Tax Assessment Act 1997 (ITAA 1997) the capital gain or loss from the CGT event D2 is disregarded if the option is exercised. Subsection 134-1(1), item 1, of the ITAA 1997 refers to the consequences for the grantor of the exercise of the option. Where the option binds the grantor to dispose of a CGT asset section 116-65 of the ITAA 1997 applies to the transaction. Subsection 116-65(2) of the ITAA 1997 provides that the capital proceeds from the grant or disposal of the shares (CGT asset) include any payment received for granting the option. The disposal of the shares is a CGT event A1 which occurs under subsection 104-10(3) of the ITAA 1997 when the contract for disposal is entered into. You would still make a capital gain at the happening of the CGT event D2 in the year the event occurs (the time the option is granted). That capital gain is disregarded when the option is exercised. Where the option is exercised in the subsequent tax year, the CGT event D2 gain is disregarded at that point. An amendment may be necessary to remove the gain previously included in taxable income for the year in which the CGT event D2 occurred.
This scenario is pretty unlikely - for me personally I never hold positions to expiration, but it is nice to know what happens with the tax treatment if it ultimately does come to that.
What about the scenario when you want to BUY some options first, then SELL that position and close it later? Buying a CALL, for example. This case is what the ATO originally thought my request was about before I clarified with them. They stated:
When you buy an ETO, you acquire an asset (the ETO) for the amount paid for it (that is, the premium) plus any additional costs such as brokerage fees and the Australian Clearing House (ACH) fee. These costs together form the cost base of the ETO (section 109-5 of the ITAA 1997). On the close out of the position, you make a capital gain or loss equal to the difference between the cost base of the ETO and the amount received on its expiry or termination (subsection 104-25(3) of the ITAA 1997). The capital gain or loss is calculated on each parcel of options.
So it seems it is far easier to record debit trades for tax purposes. It is easier for the tax office to see that you open a position by buying it, and close it by selling it. And in that case you net off the total after selling it. This is very similar to a trading shares and the CGT treatment is in effect very similar (the main difference is that it is not coming under CGT event A1 because there is no asset to dispose of, like in a shares or property trade).
Other ATO Info (FYI)
The ATO also referred me to the following documents. They relate to some 'decisions' that they made from super funds but the same principles apply to individuals they said.
The ATO’s Interpretative Decision in relation to the tax treatment of premiums payable and receivable for exchange traded options can be found on the links below. Please note that the interpretative decisions below are in relation to self-managed superannuation funds but the same principles would apply in your situation [as an individual taxpayer, not as a super fund].
Key quote from this decision: CGT Event D2will apply on the writing of an ETO by the Fund. The Fund as grantor of the option will make a capital gain (or loss) of the difference between the capital proceeds (that is, the premium receivable) and the cost of granting the option (for example, brokerage fees) at the time the option is granted
My take on this is that you will realise a capital gain on issuing of the selling position. I don't see how you could realise a capital loss in that scenario? Or maybe if you sell a position and the brokerage is so high that it outweighs the premium received (a dumb trade) then that would be a capital loss (a rare scenario).
Key quote from decision: When the Fund opens a position by buying an ETO, no immediate taxation consequences arise.CGT Event C2will happen to the Fund when its position under an ETO is closed out where the close-out results in the cancellation, release or discharge of the ETO
Don't forget to declare your trades on your tax return and keep a nice spreadsheet
Keep track of the exchange rates for each day you make a trade. You could do as you go and check the RBA exchange rates website for the daily number, or just do it all at once at the end of the financial year
Finally - I recommend ensuring that you save a portion of your income to pay the capital gains tax at the end of the year so you don't have to withdraw it from your portfolio and pay exchange rate fees to convert it back to Australian dollars. It will depend on your marginal tax rate what that percentage will work out to be in the end.
Does forex conversion rate vary for brand of card within the same bank?
Is it possible for BDO to charge foreign currency expenses differently based on the brand of card used? According to the general credit card table of fees & charges “assessment rate of 1% plus service fee of 1.5% of the converted amount based on the forex rate of visa/mastercard/etc and BDO at the time of posting”, while the amex table says “a conversion factor of 2.5% will be applied to the converted amount, of which 1% is retained by amex”. Are they different or are they essentially the same thing just worded differently? Thank you.
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I was trying to find the lowest cost brokers that aren’t just mobile apps that offer passive investments in the assets I’m looking for on top of the usual equity and bonds I already have. I’m hoping this will help people in my situation. I looked for a comparison website and found: https://brokerchooser.com/ which helped but I still had to dig around to get the direct comparison I needed all in one easily visible table. What are your thoughts and experiences on the below brokers like customer service etc with these platforms? Trading212 looks to be the cheapest and best all round but I’ve read bad experiences. To diversify my portfolio I’m looking at:
Individual shares and Crypto (a very small gamble 1% of total)
Higher risk corporate Bonds,
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Free trades per month
Fees (deposit etc)
Bank transfer or debit card?
Stocks ETF/ETCs Forex Crypto ISA
Free ISA, no trade fees, CFD account has charges inc: 0.5% currency conversion charge, no forex fees
Debit card: Yes - Bank transfer: Yes
$0 for US stock $6.95 for non-US
Cannot find on FCA register
Cannot find on FCA register
Stocks ETF/ETCs Forex Crypto Commodities via CFD’s No ISA
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Debit card: Yes - Bank transfer: No
Mobile app only Stocks ETFs ISA
ISA £3/month 0.90% forex fee
Debit card: No - Bank transfer: Yes
Mobile app only Stocks Crypto Commodities No ISA
Complex fee structure
Debit card: Yes - Bank transfer: Yes
Stocks ETF Funds Bonds Options Futures Crypto No ISA
High fees (complex structure)
Debit card: No - Bank transfer: Yes
Other investment platforms:
Fees (deposit etc)
High fees 2% set up fee 1.5% – 2.3% annual 20% performance fee Life-time management fees of between 12.5% and 24.3%
7.5% of any profit Plus variable sale fees
0% fees however returns capped at 8%.
Have you used any of these before or do you have alternatives?
I used to trade only FOREX. I have since diversified into cryptocurrency for a less stressful approach. Anyone here interested in learning how to trade cryptocurrency and what steps you need to take?
As the title says, I used to only trade on FOREX. I have since diversified into cryptocurrency because FOREX was so stressful for me and I needed to have something that was a bit less news-job-report intensive to level it all out. You can't get away from charts and candles in crypto, but I feel like there are more long-term hold opportunities in the crypto space and I feel like longer-term investments are less stressful for me. I know this isn't 100% FOREX related, but since I do trade on FOREX, I feel like it has relevance in terms of the ways the spaces are similar. First, the reasons I diversified. The main one that frustrates me is I feel like the cards are stacked against me in ways I have no control over. Exchanges can sell information about customer buy and sell points to bigger fish than me. The whales have way more information about what the public is doing than I do. Next, trading firms have access to news much faster than me. They can process announcements in microseconds. And lastly, countries do crazy things with their currencies and I just wasn't great at interpreting all the signs. I don't like my fortunes being tied to job reports and the decisions of a treasury secretary that doesn't take any input from me. The above reasons pushed me to start trading longer term in FOREX. That's fine, there are plenty of long-term strategies that work. Most people will tell you that longer-term is safer, and so the shift didn't bug me that much. But over time, I felt like there were more currencies I was missing out on, so I started adding cryptocurrency into my portfolio. For those of you that don't know much about cryptocurrency, it's basically a currency that is not controlled by any one person or government (or shouldn't be). It's money free from political corruption, free from bailouts, and free from big banks. It is also highly more volatile than FOREX. Gains and losses are measured in the 10% or 20% range per day. There's actually lots of money to be made day trading it, just like FOREX. But I chose to take a longer term approach for my peace of mind. One of the things that I looked for when trading FOREX was to trade pairs where I could earn interest while holding it. Then when the pair appreciated, I could sell it for a gain plus the interest. Win win. Right now, I feel like I found that in ADA (Cardano) crypto. ADA just opened staking (mining) capability last week, meaning that just by holding it you can earn 4.5%-5.5% on your coins (paid in coins, not in dollars). It's the most undervalued crypto in the market (in my opinion), and the fundamentals on it look really strong. It is doing everything I was hoping a FOREX pair would do and I think it's the best crypto investment right now, so I'm just filing it away as a 5-year investment. It's now 50% of my "overall" currency investments, including FOREX. Anyway, that's my story. I wanted to share it in case anyone here was curious about Cardano in particular, and how it related to fiat currencies. I was super intimidated about crypto at first, but I am also a software developer with a lot of experience, and so I was able to make the transition quite well. I even started my own mining pool to earn more.
UNIFICATION | $FUND | The Game Changer | The next big ONE.
https://unification.com/ Header: You can visit and check my profile how much those early birds that read my post gained in my previous calls. There are others who called it first but I re-posted it for project awareness because they are still in low mcap before. $xgm x5 $kai x4 $ring x2 $2key x3 Marketcap: 4.3 million NO ICO NO PRIVATE SALES IEO price: $0.06 https://support.probit.com/hc/en-us/articles/360031772931-Unification-UND-will-launch-IEO-with-ProBit-Exchange Current price: $0.045 A little bit history; Unification or $FUND started as $UND wherein they burned the 88% of their total supply (1billion) and undergo mainnet this past May 14th, swapped $UND to $FUND at 1:1 ratio and considered $UND as a testnet after swapping and, $FUND as their mainnet. https://medium.com/unificationfoundation/the-unification-new-genesis-event-88-of-und-supply-destroyed-37fa56484396?source=collection_home---4------7----------------------- Introduction: Unification is a hybrid public/private blockchain that connects interoperating private WRKchains to a public Mainchain. Any independent entity can deploy useful scaled solution, via WRKchains and exchange data in closed environments. WRKchains can support any DApp/smart contract and may have their own native coin (or not), all while maintaining speed and scalability. Technology: Beacon - Beacons are the best choice for singularly maintained centralized databases that require an element of trust added WrkChains - WRKChains are a Distributed Ledger Technology designed specifically for real-world enterprise and consumer adoption TokenForge - TokenForge is Unification’s WRKChain infrastructure that allows for a consortium marketplace based on tokenization My opinion: For me, this token is such a vast industry. Unification created a solution for enterprises wherein if blockchain will be used in enterprise data operations, it will clogged the network because of heavy loads. And here they are, crafted the WkrChains, it is the fucking perfect solution that world needs. If I compare Neyma to Sergey, they are almost the same, who built the perfect blockchain/token to maximize the usability and scalability of blockchain. Also, Neyma the CEO of $FUND has connections to GOOGLE and RIPPLE. Imagine, private companies, enterprises and Governments will start using WrkChains. As time passess by, $FUND will eventually grow higher and higher and higher. They already have a working WrkChain named as "FinChains", it is a decentralized price oracle developed by Yellow, it is estimated to consume more than 500k to 1million $FUND a year. Imagine, when the adoption phase begin, there are a lot of $FUNDS will be used in utility. I don't care what you say, but for me this project is belong to top 50cmc, for short 100m mc, x37 from here. Worst case is top 100cmc at 50m mc, x18 from here. Don't missed out on this one. I highly suggest it to add it on your portfolio. If you missed out on LINK, NEO, UBT ico days. Here's your chance. Tokenomics; Explorer: https://explorer.unification.io/ Circulating supply : 93,851,203 Total supply : 120,000,000 Staking: YES There are 49 million tokens currently at perma stake by the company to secure the network at 51% attack. This will be locked forever for the security of the network. This is equivalent to 1/3 of total supply. Also, 10m $FUND will be minted each year that will bring the total supply at maximum of 210 million by the year 2029. But it will be locked and will only be used to sell for enterprises for utility usage and to pay for network tax (block rewards) it means, the more WrkChains will be deployed, there will be "DEFLATION" because it will be used by enterprises etc. If those 10million minted $FUND each year is not sufficient for enterprises, they have to MARKET BUY the $FUND tokens. Good tokenomics tho. Main Goal: To deploy 100 Wrkchains this 2020 Partners: Travala.com INLAGS (Latin American Institute of Health) https://www.inlags.com/ BidiPass (https://bidipass.org/) Alpha Chain (https://alphachain.com/) Yellow (https://www.yellow.com/) Beach Head (https://www.beachhead.com/) Binance Info (https://info.binance.com/) Deployment Partners: Amazon Web Services Google Cloud Platform Microsoft Azure Exchanges: Probit (suggested exchange, NO KYC) BitForex (suggested exchange, but low liquidity) Binance Dex (Not a mainnet, needed to swap) Digifinex Bidesk (Not a mainnet, needed to swap) Useful links: 1st enterprise to adopt WrkChains https://explorer.unification.io/transactions/8F0B166542C8E95ABCFFE35D8587E665149F65457AF5A41742010CE18143DCA4 An enterprise purchase of $FUND yesterday worth $21,000 for utility usage. https://explorer.unification.io/transactions/F7A79321387AF875570E6F97BC7E909D092C9870B19E94AFCBD84ED5D7EDC268 Big Boss Capital as a Unification Validator https://endofthechain.com/big-boss-capital-is-live/amp/?__twitter_impression=true Generation Crypto AMA Recap http://gcrypto.media/unification-ama-recap/ WrkChains detailed explanation https://www.youtube.com/watch?v=4hJmV5vdG2o&feature=emb_title The Gem Hunters rated $FUND as Emerald Grade 3 https://www.thegemhunters.net/reviews A superb review of $FUND by Blockfyre, Rated $FUND a score of B7. https://blockfyre.com/unification-fund/ tehMoonwalkeR added $FUND to his list. https://twitter.com/tehMoonwalkestatus/1265281813603250179?s=19 An interesting thread by other user https://www.reddit.com/CryptoMoonShots/comments/gn0j9v/the_birth_of_fund_moonshots_part_2/?utm_medium=android_app&utm_source=share Telegram https://t.me/unificationfoundation Telegram Ann: https://t.me/UnificationOfficial Medium: https://medium.com/unificationfoundation Twitter https://twitter.com/UnificationUND?s=09 Coingecko https://www.coingecko.com/en/coins/unification Conclusion: You can apply the law of supply and demand in this token. Wherein scarcity will happen and will boost the token's price a lot and also consider the 49m permanent stake which is 1/3 of the total supply. Which means only 71 million are in the circulation. If this will be listed to another 5 more exchanges, the demand will increase which will give a massive boost to the price. Plus, add those incoming WrkChains deployment which will use about an estimation of 500k to 1million $FUND per year for utility usage. Their main goal this 2020 is to deploy 100 WrkChains. Imagine the scarcity. It will be above the rest. They worked hard 2 years for this perfect solution. Silently working and here they are, going to make a name in the industry. Try looking out for the flaws of this project. If you have any, kindly comment it here. Post Scriptum: Enjoy bagging this GEM as early as you can before it explode in corporations, enterprises and Governments and exchanges. This is my Ace card in whole crypto. FUD and bash is accepted. If you're saying 4m mcap is too high. No it's not. It's still in it's infancy phase. Also screencap this, next year it will be a happy memory that you read this post and you will thank me in the future.
Best non-airmiles (cash back?) credit card in Singapore
I have always used an airmiles card for Singapore Airlines miles. I might not be flying in the near future so thought about applying for a second credit card, and I thought cashback is the best deal right now. Has anyone researched the best cashback credit cards? I thought the only ones worth considering are: - UOB One card - gives you fixed cashback of SGD300 if you spend at least SGD2,000/month for 3 consecutive months (or 5% cashback if you spend exactly SGD2,000/month as you get no cashback for the excess) and fixed cashback of SGD50 or SGD100 if you spend at least SGD500/month or SGD1,000/month, respectively for 3 consecutive months (or 3.3% cashback if you spend exactly the minimum) (but dealing with UOB is the most painful experience on the planet; this is a bank that will send you a SMS that they sent you a physical letter to ask you to send them an e-mail) - American Express True Cashback - 3% on first SGD5,000 if you spend SGD5,000 within first 6 months; 1.5% otherwise with no minimum (great as a second card if you hit the cap of another card and regularly spend beyond the SGD2,800 spend limit for cashback of the UOB One; also gives you 2.5% cashback on non-SGD spend but you would save by using Transferwise or a similar challenger bank card to pay for lower forex rather than paying an inflated credit card forex rate and getting 1% back) - HSBC Advance - SGD150 on first SGD800 if you spend SGD800 in first month; 1.5% up to SGD70/month otherwise (2.5% if you are HSBC Advance client); 2.5% for dining, utility and telco bills with SGD2,000/month minimum spend (could be useful as a second card like the Amex True Cashback) - UOB YOLO - gives you 8% cashback (capped at SGD60/month or cash back on up to SGD750/month spend) on weekend dining, entertainment and Grab (3% on weekdays) with minimum SGD600/month spend (could be useful if you are ordering fancy weekend takeout a lot right now) - OCBC 365 - gives you 6% cashback (capped at SGD80/month or cash back on up to SGD1,333/month spend) on dining and online food orders, and 3% cash back on grocery, telco and utilities, with minimum SGD800/month spend (could be useful if you are ordering a lot of takeout right now, but OCBC is also harder to deal with) - DBS Live Fresh - gives 5% cashback capped at SGD60/month but requires minimum spend of SGD600/month; gives actual monthly cashback of up to SGD20 on SGD400 per category for "online", "eligible Visa Contactless", and all other spend (you get up to SGD40/month cashback on SGD800/month spent in two broad categories (online and Visa contactless) but a lot of hassle for up to 3 x SGD20/month and useful only if you spend so much (and still want to squeeze out this SGD60/month of cashback!) that you max the cap on the better cards; again, you might make a loss by forgetting about the card and having to pay late fees, annual renewal fee, etc) - Maybank Friends and Family - 8% cashback (capped at SGD80/month or cash back on up to SGD1,000/month) on groceries (including online grocery), fastfood (including Deliveroo and Foodpanda), petrol, ride hailing, and telco, with minimum SGD800/month spend to receive 8% rate (useful if you spend closer to SGD1,000/month on groceries but that's not everyone) Other options (that are nowhere as good as they first seem) would be: - Citi SMRT - gives 3% cashback on "online" shopping and 5% on selected groceries, McDonalds and other fastfood, Starbucks and other coffee, movie; minimum spend of SGD300/month (plus 2% on ez-Link top up, if you want a couple of dollars more a month!) (looks like a huge hassle because you get "SMRT$" instead of real dollars up front; could be useful as a second card if you max out the caps of the better cards, carefully check if a merchant counts as "online", and if you buy your groceries at Fairprice, Giant or Sheng Shiong) - Citi Cash Back - gives 8% cashback capped at SGD75/month for dining, grocery and petrol but requires minimum spend of SGD888/month; gives actual monthly cashback of up to SGD25 on SGD312.50 per category for dining, grocery and petrol (a lot of hassle for up to 3 x SGD25/month, you might make a loss by forgetting about the card and having to pay late fees, annual renewal fee, etc) - POSB Everyday - could be useful if you shop at Sheng Siong and the other places covered by the card - Bank of China family - gives you 10% cashback on dining of up to SGD25/month on SGD250/month and 3% on online shopping, with minimum SGD800/month spend (if you want to do the accounting acrobatics to keep track of the details...) - QUESTION - Maybank Visa Infinite - featured in the Straits Times June 14, 2020 edition as being the only card that racks up rewards points for insurance premiums, but I cannot figure out the card based on the Maybank website. It emphasises air miles as its perks and says it has a SGD600 annual fee (waived for SGD60,000 annual spend). Has anyone else applied for non-airmiles cards? Happy to hear people's thoughts. UPDATE: I was wondering what the best spending plan is for someone who spends at least SGD2,000-3,000/month. Below that, you should focus on the minimum spend for one card and above that, you would put the excess in a card like the Amex, Standard Chartered or HSBC Advance with a no cap 1.5% cash back. I was thinking: DBS Live Fresh - Spend your first SGD800/month of online and Visa contactless on this card (two broad categories) for 5% cash back UOB Yolo or OCBC 365 - Spend up to SGD 750 or SGD1,333/month on weekend dining or dining and other qualified spend here for 8% or 6% cash back UOB One - Put your spend that does not go to a higher cash back card here and make sure you hit exactly SGD500, 1,000 or 2,000/month for SGD50, 100 or 300 cash back/quarter (again, you get no cash back for the excess) American Express True Cash Back - Put your spend here after you hit the monthly target on the UOB One UPDATE: I tried applying for the UOB One, took UOB two months to process my application, then they say after approval, they need two business days to process the release of the actual credit card then two business days to deliver. I tried HSBC, Amex and DBS and they processed and delivered the actual card on the third business day after application (not after approval but after submission of the application)
Withdrawing USD Funds from Philippine-Based Paypal Account Using TransferWise Borderless Account
This is a response tou/sgicruz*'s post:* Best way to receive USD payment into a USD savings account?I created a post since this is a bit long comparison. If you are transferring large amounts of USD from Paypal (i.e. >USD 2,000 at a time), you are forced by Paypal to withdraw in PHP, since you cannot withdraw USD directly to Philippine-based USD accounts. Instead, you can use the TransferWise Borderless Account. The Borderless Account allows you to hold multiple currencies on the account, and also provides USD US Bank Account details (also GBP, Euro, AUD, NZD) which can receive funds via local ACH (automated clearing house). Paypal can withdraw USD funds via US ACH. (There is a verification step before being assigned bank account details: see footnote at the bottom of my post)* For comparison, below are three scenarios:
Total fees: PHP 200 (for USD 2,000 sample computation) (Note: if you use GCash, I think total fee is always PHP 0, subject to wallet and transaction limits) Exchange Rate (sample for May 8, 2020): 1 USD => PHP 48.9414 Net PHP received thru bank: PHP 97,682.70 (BDO) or PHP 97,882.70 (GCash) Paypal's PHP-USD buy/sell spread is horrendous at around ~3.0-3.5% compared to the mid-market rate. But this is still a valid option if (1) you are withdrawing small amounts, or (2) you need instant access to cash. --------------------------- 2. Paypal -> (Withdraw to US Bank Account) -> TransferWise Borderless Account -> (Send USD via SWIFT) -> BDO USD Savings Account Associated fees (sample computation for USD 2,000):
Paypal withdrawal from USD balance to US Bank Account = USD 35.00 (flat fee)
TransferWise fee for USD transfer over SWIFT = USD 1.40+3.20 = USD 4.60 (flat fee)
SWIFT intermediary/correspondent bank fees = USD 15.00 (flat fee, but can vary from 0-60 USD depending on route taken and on int'l bank relationships your local USD bank has)
BDO Incoming SWIFT Remittance = USD 5.00 (flat fee)
Total fees: 59.60 USD Net USD received thru bank: USD 1940.40 If your ultimate goal is to get the funds in PHP, we can try exchanging the USD to PHP via BDO Exchange Rate (sample for May 8, 2020): 1 USD => PHP 50.0000 (BDO USD Buy rates) Net PHP received thru bank: PHP 97,020.00 There are a lot of fixed fees, so this will only be economical for large amounts of USD (probably >USD 3,000). In addition, BDO's PHP-USD buy/sell spread is around ~0.5-1.0% compared to the mid-market rate. Paypal withdrawal to US bank account takes around 1-2 banking days, while SWIFT transfers take around 1-5 banking days. --------------------------- An alternative is to send PHP directly from TransferWise. This is cheaper than Paypal or even the USD route described above. This is because TransferWise's exchange rate uses the mid-market rate, and they have transparent fees. In addition, TransferWise -> Local PHP Savings Account settles in minutes, as opposed to the SWIFT USD transfer above (which can take anywhere from 2-5 banking days). 3. Paypal -> (Withdraw to US Bank Account) -> TransferWise Borderless Account -> (Send PHP via ACH [this means Bancnet]) -> Local PHP Savings Account Associated fees (sample computation for USD 2,000):
Paypal withdrawal from USD balance to TransferWise US Bank Account = USD 35 (flat fee)
TransferWise fee for PHP transfer over ACH (Bancnet) = USD 12.01
Total fees: USD 47.01 Net USD for conversion: USD 1952.99 Exchange Rate (sample for May 8, 2020): 1 USD => 50.4800 PHP Net PHP received thru bank: PHP 98,586.93 Paypal withdrawal to US bank account takes around 1-2 banking days, while TransferWise USD-PHP ACH (Bancnet) settles in minutes. --------------------------- *To receive your own USD bank account details, you're required to "Add Money" at least GBP 20 or its equivalent (maybe USD 25). This is their verification requirement. I recommend adding money using Visa/Mastercard Debit Card: TransferWise has around 4.5% fees for the Debit Card Add Money option, so it's going to cost around ~PHP 60 in fees. I recommend using CIMB ATM card if you have, since they currently (as of May 8, 2020) do not charge forex conversion fees. If not, any Visa/Mastercard debit card will do (including BDO Visa ATM cards). --------------------------- TLDR; For relatively small amounts, withdraw directly from Paypal to PHP bank account. Best choice is Paypal -> GCash (no inward remittance fee). For larger amounts, withdraw USD from Paypal to TransferWise Borderless Account, then send PHP via ACH (Bancnet) to Philippine PHP Savings account. But if you want to keep the amount as USD: withdraw USD from Paypal to TransferWise Borderless Account, then send USD via SWIFT to Philippine USD Savings account.
This is indeed the major benefit if you’re considering to get this card. Loading your Regalia Forex Plus card with Rs.50,000 using a HDFC debit card will get you Rs.2500 cashback which will set off the issuance fee & the markup fee. Same with credit cards, makes sense if you hold Infinia or Diners Black to avail 5X reward points. Find out documents required to apply for Multicurrency Platinum Forex Plus Chip Card Forex Cards as the process varies from individual to individual. Click here to view the required list of Multicurrency Platinum Forex Plus Chip Card Forex Cards document in details. What are the various charges included in Forex Card? There are basically three types of charges involved: 1. Foreign Currency Conversion fee The fee that Visa and Mastercard charge you because your card is Indian and your Card balance reflects in Indian Currency and when you use it abroad, you pay it in the currency of the country you are in. What is Forex Card & All Your Questions Related to Forex Card are Answered here. Forex Card, which is also called Travel Card, Prepaid Card, Traveller’s Card, Prepaid Travel Card is like your debit card. Forex Cards are used for making payments while you are travelling abroad. You can pre-load money in the denominations of foreign currency ... HDFC Regalia Forex Plus Card is one of the best forex card in India. The name of this card is kept from famous HDFC Regalia Credit Card. USP of this card is No cross currency conversion charges, which is very useful. HDFC Multicurrency Forex Chip Card also provides similar features, but Regalia Forex Plus provides extra features and benefits. The card is not valid for payments in India, Nepal and Bhutan. The card is valid up to the last working day of the month indicated. It can be re-issued on request. The card is acceptable at any of the following: Any ATM of banks which are members of VISA/MasterCard / PLUS ATM network abroad; Any VISA/MasterCard merchant outlet abroad Yes, the card should have a website or phone number where you can check the balance. It's important to know because when you get down to the last few $$ and you want to buy something for more than your remaining balance, you need to tell the merch...
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