Best countries for daytrading in 2024? | Crypto Craft

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Best countries for daytrading in 2024?

  • #1
  • First Post: Feb 9, 2024 1:33pm Feb 9, 2024 1:33pm
Let me know which countries are best for daytrading in 2024 and why. Of course we will be taking into account the session you want to trade and also the tax laws, along with ease of acquiring a visa. Lastly i ask you all to consider that capital cities will be expensive everywhere so try to not have that influence your opinion on the whole country.
  • #2
  • Feb 10, 2024 7:53am Feb 10, 2024 7:53am
Quoting mohdhm
Let me know which countries are best for daytrading in 2024 and why. Of course we will be taking into account the session you want to trade and also the tax laws, along with ease of acquiring a visa. Lastly i ask you all to consider that capital cities will be expensive everywhere so try to not have that influence your opinion on the whole country.

Probbaly UAE (Dubai)
You can trade the dax (german) Open Session at 12:00 or the US NYSE Open at 18:30, there is no waking up early or staying up late required.
In theory there are Zero taxes on foreing income, you Probbaly need to set up a freezone company to get citizenship.
1k to 100k Copy Trading All Time Return: 367.9%
  • #3
  • Feb 10, 2024 8:49am Feb 10, 2024 8:49am
Quoting mohdhm
Let me know which countries are best for daytrading in 2024 and why. Of course we will be taking into account the session you want to trade and also the tax laws, along with ease of acquiring a visa. Lastly i ask you all to consider that capital cities will be expensive everywhere so try to not have that influence your opinion on the whole country.
The Us may be good, because of it's large and diverse financial markets, and advanced technology infrastructure.
  • #4
  • Feb 12, 2024 12:29pm Feb 12, 2024 12:29pm
Quoting mohdhm
Let me know which countries are best for daytrading in 2024 and why. Of course we will be taking into account the session you want to trade and also the tax laws, along with ease of acquiring a visa. Lastly i ask you all to consider that capital cities will be expensive everywhere so try to not have that influence your opinion on the whole country.
When you say daytrading, do you mean forex or stocks? Reason Im asking cause i.e in Norway the taxes are different for CFDs of FX vs options/stocks/CFDs of stocks. On CFDs (forex) the current capital gains tax is 22%, while on the other instruments its basically 28%(+ but can go higher dependent on dividends etc).
In UK there is no tax on spread betting.
  • #5
  • Feb 13, 2024 9:26am Feb 13, 2024 9:26am
Ignoring tax issues because I trade from tax-sheltered IRA accounts. So, just considering timeframe and quality of life. I trade US stock options and the market revolves around NY time. I need to catch the open and the close. I'm on the west coast US and that means an early start, usually I catch data releases at 0830 NY time, 0530 my time...then the close is at 1300 my time. That's not terrible, but it would easier to live on the east coast and sync with NY. Quality of life better on the west coast, though.

I'm thinking about moving overseas and I think western Europe would be a good place to trade from, probably Spain. The clock lines up for trading during daylight hours and the residence visa requirements are easy. Quality of life and climate similar to southern California, nice. I like Thailand, also, for short stays, but the trading hours are in the middle of the night - not good.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #6
  • Feb 13, 2024 11:43am Feb 13, 2024 11:43am
Montenegro. Combination of ultra-low taxes, good lifestyle and property prices, reliable high-speed internet, convenient time-zone, easy visas and favourable legal climate.

Unsurprisingly, many ex hedge fund traders have moved there.

Also some to Greece and Cyprus because of very favourable visa and tax conditions for "self-employed digital nomads."
  • #7
  • Feb 13, 2024 12:09pm Feb 13, 2024 12:09pm
what do you think of New Zealand and Belgium ? Is it a good country for CDF's
  • #8
  • Edited 12:53pm Feb 13, 2024 12:32pm | Edited 12:53pm
  •  Leebos
  • | Joined Aug 2012 | Status: I do not believe in a fate that fal | 75 Posts
Quoting gaberiel
what do you think of New Zealand and Belgium ? Is it a good country for CDF's
Trading in New Zealand can be hard work, being as the market moves very little during the daytime and spreads can be a factor.
Tokyo open offers some opportunities, as does London open, but you'll be so tired by the time NY opens, your brain will play tricks with you. Still made serious money though.......and moved to Spain hahaha

Assuming you meant CFD's of course
  • #9
  • Feb 13, 2024 1:32pm Feb 13, 2024 1:32pm
Good for man . Is Spain really that good of place for trading cause I saw you pay like up to 20% in taxes
  • #10
  • Feb 13, 2024 9:49pm Feb 13, 2024 9:49pm
Hi All.
Perspective of an Australian based trader.

I'll preface this with the fact we have a trading business that does a lot of trading, has a big(ish) balance and is profitable. So picking a country and working with accountants and lawyers and setting up structure isn't a big cost compared to the amount we trade. For others this maybe prohibitive.

Firstly I don't recommend the AU timezone but It has some advantages, for example, it is nice that our day starts at the end of the US session. My MT4 time is GMT+2 which is 17h00 in the US which is around 9/10am my time. Good to have an hour to get things setup and ready for a new 23 hour day. It makes sense in your head in that way.

I am often in Europe and actually think this is the best location for FX trading. You can stay up late really late in the evening for the end of the US (for example Mondays is good for this for the new week) and start of the new Australian day, go to sleep (heck we all have to) and then wake up for the European open and then trade smoothly from the European hours into the US open. In my view, you can basically (with staying up late) get all 3 (AU, EU and US) if you need to and for my systems is really important on say Mondays when we make our changes for the new weeks.

Now there is the question of tax. This is not tax advice of course and there is always complexity but I'm looking to get my trading based (this is harder than it sounds if you aren't spending 50% of your year there) out of Bulgaria. Your BG time is GMT+2 and you can use all the good (depending on your version of "good") brokers from your US based VPS. The tax benefit if your trading entity is Bulgarian (and setup properly) is really good .... personal and corporate tax rate in Bulgaria is a flat 10% ... so it's pretty good option.

It is also an EU country and next month shengen zone. lawyers, accountants etc are cheap compared to Australia or UK or USA. *AND* the have really good developers if you need such.

Anyway, just my AUD/USD 2 cents worth.
  • #11
  • Feb 14, 2024 2:32am Feb 14, 2024 2:32am
Quoting gaberiel
what do you think of New Zealand and Belgium ? Is it a good country for CDF's
I think Germany and UAE can be good option rather than New Zealand even though I am not pretty much sure!
  • #12
  • Feb 14, 2024 11:44am Feb 14, 2024 11:44am
Quoting M.Gael
{quote} I think Germany and UAE can be good option rather than New Zealand even though I am not pretty much sure!

Yes, Germany is the best recommendation when you are a successful profitable trader, the quickest way to the poorhouse:

If you trade a lot and at the end of the tax year you had the following results: Losing trades USD 100k, winning trades USD 150k, profit 50k!

According to the german tax code (since 2021) you will be taxed the following way: Profits 150k, deductible losses 20k (capped by law), taxable income 130k, tax payable by an unmarried person ca. 60k!!! So from your earned 50k the taxman will take 60k ---- no joke!

So welcome to Germany
  • #13
  • Feb 15, 2024 5:55am Feb 15, 2024 5:55am
We have been living in Malta since 2019, before that we spent 5 years in London (UK). I'm actually from Germany. Germany was only relatively attractive for traders in terms of tax before 2021 because the reduced tax rate on capital gains (around 25%) also applied to day trading and similar active trading strategies. London was very pleasant from a social perspective because many people are generally close to the financial markets, which led to many interesting conversations, even where you would never have expected them.
I think Malta is great from a tax perspective and for me personally in terms of other aspects of quality of life. In Malta, it is best to set up a company to handle your trading. On paper, Malta has the EU's highest and lowest corporate tax rates. Of the actual 35 %, 6/7 is refunded to you or you don't pay it at all, which reduces your absolute corporation tax rate to 5 %. You then only pay personal tax on the portion of your income you import to Malta (normally also 35%) and the rest you receive tax-free as dividends in foreign accounts. Depending on the tax programme you opt for, you can also reduce this to 15% (Residence Programme for EU citizens or Global Residence Programme for third-country nationals). However, you should make at least 150 k per year to make the operation of the structures worthwhile.
In Malta, we have plenty of sunshine and away from the overcrowded prime locations of Sliema and St. Julian's also have acceptable property prices. Fast internet is available throughout the country and the sea is never far away.
  • #14
  • Feb 19, 2024 5:03am Feb 19, 2024 5:03am
Quoting Leebos
{quote} Trading in New Zealand can be hard work, being as the market moves very little during the daytime and spreads can be a factor. Tokyo open offers some opportunities, as does London open, but you'll be so tired by the time NY opens, your brain will play tricks with you. Still made serious money though.......and moved to Spain hahaha Assuming you meant CFD's of course
I used to live in Auckland but now live in Aus and the time zones mean I have to up very early to trade Futures. Do you trade Futures, Options as well as Forex? I am looking for another broker to trade with and was hoping you could suggest one or two please?
  • #15
  • Feb 22, 2024 4:21am Feb 22, 2024 4:21am
I would stay away from NZ and OZ; they are becoming the wokest countries in the world; Labour has bankrupted NZ and OZ is following suit.
life is a reflection of what we allow ourselves to see
  • #16
  • Feb 22, 2024 10:31am Feb 22, 2024 10:31am
Dubai, UAE! The country has tax-free regime and global Forex market's trading sessions
  • #17
  • Aug 16, 2024 8:55am Aug 16, 2024 8:55am
Any traders from sweden , Im current signed with CMC markets which tells kronofogden( our version of IRS) how much i made or lost so my questions is , do you pay the capital gains tax at the end of month or year im confused.
  • #18
  • Aug 18, 2024 7:56pm Aug 18, 2024 7:56pm
I would say southeast Asia. Thailand has an easy to get digital nomad visa and I had no problems with it. Previously traded from NZ but naturally it's the worst time zone in the world for most strategies. Thailand and Vietnam are cheap, standard of living is comfortable when you're on foreign money, and the weather is always good. As far as tax goes, I get paid into my NZ account so in the eyes of Thailand I don't pay tax and in the eyes of NZ my income is generated offshore so also no tax. Who knows if this turns out to be correct long term, but for now I've paid nothing haha.
  • #19
  • Aug 18, 2024 8:58pm Aug 18, 2024 8:58pm
Quoting IcarusTP
I would say southeast Asia. Thailand has an easy to get digital nomad visa and I had no problems with it. Previously traded from NZ but naturally it's the worst time zone in the world for most strategies. Thailand and Vietnam are cheap, standard of living is comfortable when you're on foreign money, and the weather is always good. As far as tax goes, I get paid into my NZ account so in the eyes of Thailand I don't pay tax and in the eyes of NZ my income is generated offshore so also no tax. Who knows if this turns out to be correct long term, but...
Hi Icarus

You will owe income tax if the money goes into a New Zealand account, even if it is earned overseas. Just because you trade in Thailand means nothing, your a Kiwi business man because its an New Zealand account.
I would seek professional help before they catch up with you.

Good luck.
Trading thin liquidity at the boundary of the charts
  • #20
  • Aug 19, 2024 1:47am Aug 19, 2024 1:47am
Dubai.. would be the best option.

Trading times: LO at 11AM, NY open at 4PM, may not be so attractive to trade the Sydney and Tokyo markets. Check the market timings attached below.

Tax: There is no capital gains tax till now, and No personal income tax either.

Lifestyle: 365 days of Sun, beautiful beaches, many golf courses, amazing restaurants from around the world, world class facilities at normal prices. You can get a full time live in maid at slightly less than 1000USD per month and a personal chauffeur for you and family @1000 USD per month.

Best Foods, best roads and the best cars!!!!!!!!!
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