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  • #10,261
  • Aug 16, 2022 6:56am Aug 16, 2022 6:56am
Takisd what's your experience in setting up the funded accounts as a company ? Is that too difficult ?
I have considered that but I'm wondering that the company papers use to be issued in local language, probably demands certified translated copies, apostille stamp and so on ? And proof that you represent the company and all that ?
  • #10,262
  • Aug 16, 2022 7:22am Aug 16, 2022 7:22am
Quoting Capablanca
Takisd what's your experience in setting up the funded accounts as a company ? Is that too difficult ? I have considered that but I'm wondering that the company papers use to be issued in local language, probably demands certified translated copies, apostille stamp and so on ? And proof that you represent the company and all that ?

I already had all the translations etc as my 'corporation' is 8 years old. But it depends where you are. I think in Italy there are some easy options, most of the EU is actually fairly easy you just need to know the laws you are dealing with and make sure you keep your books right.
  • #10,263
  • Aug 16, 2022 8:01am Aug 16, 2022 8:01am
Quoting TrAndy1
because in that time you do not have access to that money or you cannot trade in that time.
-The simple workaround for this, as suggested, is to trade multiple accounts, across multiple firms to reduce the trading downtime. Until other prop firms follow suit, this is the best way.

Quoting pipmaster77
I know the money is coming. 24 hours is no biggie. Even if it pushed up against 48, no issue. However, I do need to be working on my next payout immediately. This is one of the benefits of multiple firms, while waiting on one, can be trading in another. Still, no reason, the "reset" cannot be automated and immediate.
-Completely agree.
  • #10,264
  • Aug 16, 2022 8:48am Aug 16, 2022 8:48am
Quoting Takisd
{quote} 1) I'm a corporation 2) I have no interest in being inside the German system. You have basically suggested in order to not spend 30$ on a 6 figure withdrawal I should fly to germany, open a bank account, comply with said bank account just to use an american corporation known for freezing large dollar value accounts. Theres a 100x better solution and thats wise.com
If I am reading correctly, 3%, not .03%. 3% on a 6 figure withdrawal would be $3,000, not $30, no?
  • #10,265
  • Aug 16, 2022 10:19am Aug 16, 2022 10:19am
Quoting pipmaster77
{quote} If I am reading correctly, 3%, not .03%. 3% on a 6 figure withdrawal would be $3,000, not $30, no?

I pay 30$ for wire, I would pay 3000 per 100k on paypal.
  • #10,266
  • Aug 16, 2022 10:59am Aug 16, 2022 10:59am
Quoting Takisd
{quote} I pay 30$ for wire, I would pay 3000 per 100k on paypal.
Why do you prefer so much Paypal instead of a bank wire ? (if that is something you can comment)
  • #10,267
  • Aug 16, 2022 11:01am Aug 16, 2022 11:01am
You guys are making me very stressed... I don't use paypal. Andy told me to use it and I explained why I don't. AHHHHH
  • #10,268
  • Aug 16, 2022 11:04am Aug 16, 2022 11:04am
Quoting Takisd
{quote} I pay 30$ for wire, I would pay 3000 per 100k on paypal.
lol, that's what I thought you meant.....phew, I knew you weren't paying 3K lol.
  • #10,269
  • Edited 11:40am Aug 16, 2022 11:30am | Edited 11:40am
I was on the Paypal Greece website because I did not believe he would be paying 3%. Well, that is only to US bank accounts. Local bank account in same currency, that is what I wrote and meant, is free of any charge. And Voila! He could make a 12 hour withdraw from ICM to Paypal and then from Paypal to his greece bank account within few hours. And all in all also cost free like me in Germany. It is much faster than any international wire too. But he really needs to wire all his money to the USA ?

Paypal Greece picture below but auto translated to English for transaction cost from Paypal accounts.
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-08-16_182651.gif Size: 19 KB

I was not on the Paypal USA website. But I think it is the same cost free transfer to local bank accounts in the USA too, as everywhere with Paypal. So I do not understand he has Paypal Greece but do not want to use Greece bank accounts, but instead USA accounts, but cannot open a Paypal account within USA region, why ?
  • #10,270
  • Aug 16, 2022 11:47am Aug 16, 2022 11:47am
Attached Image (click to enlarge)
Click to Enlarge Name: book.png Size: 59 KB
Intraday only.
  • #10,271
  • Aug 16, 2022 11:50am Aug 16, 2022 11:50am
Quoting TrAndy1
I was on the Paypal Greece website because I did not believe he would be paying 3%. Well, that is only to US bank accounts. Local bank account in same currency, that is what I wrote and meant, is free of any charge. And Voila! He could make a 12 hour withdraw from ICM to Paypal and then from Paypal to his greece bank account within few hours. And all in all also cost free like me in Germany. It is much faster than any international wire too. But he really needs to wire all his money to the USA ? Paypal Greece picture below but auto translated to...
Well, number one ICMarkets does not accept US clients, so not 100% sure, but if I were a betting man, I'd say that has significance somewhere in the mix. TBH, if what works for him, works for him, not sure why we are all involved in his personal business.
  • #10,272
  • Aug 16, 2022 11:56am Aug 16, 2022 11:56am
Quoting pipmaster77
{quote} Well, number one ICMarkets does not accept US clients, so not 100% sure, but if I were a betting man, I'd say that has significance somewhere in the mix. TBH, if what works for him, works for him, not sure why we are all involved in his personal business.
If they, ICM, do not accept US clients at all, why he then can have US corporation account with ICM? Otherwise being Greece he could use Paypal for free. Do not get it.
If he had US corp account with ICM then he could use Paypal USA for free too. Otherwise being Greece he also could Paypal Greece free too. Does not make any sense.
  • #10,273
  • Aug 16, 2022 11:59am Aug 16, 2022 11:59am
Quoting Takisd
You guys are making me very stressed... I don't use paypal. Andy told me to use it and I explained why I don't. AHHHHH
Ok, OK, sorry about that. Now I seemed a guy when the bar is about to close.

I don't use Paypal either but that's because my account is in EUR and payouts are in USD.
They eat too much either in commission or in spread (or both).
Deel is really nice because the transfer to Revolut (and Wise) e pretty much immediate.
Or receiving in crypto (my preference) which can be transferred (also immediately) either to Coinbase or to Binance for conversion into USD or EUR, hopefully with a small cost if the gas fees are low.
Then the transfer of EUR/USD from Coinbase to Revolut is immediate. From Binance can get either the same day or early in the morning next day.

I think this question of payment methods depends very much of the personal situation and country.
  • #10,274
  • Aug 16, 2022 12:02pm Aug 16, 2022 12:02pm
Quoting navk
{image}
10% is what we can get with the code FOREXPROPREVIEWS which is in that site that TrAndy left some time ago and no need to verify anything, at least until get funded. They could offer a bit more if they want to inventive that.
  • #10,275
  • Aug 16, 2022 12:32pm Aug 16, 2022 12:32pm
Quoting Capablanca
{quote} 10% is what we can get with the code FOREXPROPREVIEWS which is in that site that TrAndy left some time ago and no need to verify anything, at least until get funded. They could offer a bit more if they want to inventive that.
I think my shown code is only 8% discount in reality, as you have already tried and used it for E8 challenge(s). But not needing verification is an argument itself.
  • #10,276
  • Aug 16, 2022 12:53pm Aug 16, 2022 12:53pm
Just to understand that. Greek effective corporate tax rate is 21% now. Gain Capital tax rate at 20%. US Corporation tax rate now at 21%, but was higher 8 years ago when Takisd opened his US Corporation. So for trading from US he would need with every better FX broker at least 10 milion in assets. Also tax rates have been higher some years ago in the US. Greek corporation taxes are low. So I do not understand why he needs to trade from US Corp. with IC Markets and cannot have Paypal USA.
In addition now Biden and his party wants to increase Corporation taxes to 28%, so he would pay more in the future. So maybe needs to change that structure ? Otherwise if he really pays much less being Greek residing in Greece (as it looks like from Forum), it looks in total like a tax evasion concept to me. Do not get it at all.

Some sources here:
https://www.orbitax.com/taxhub/corpo...ates/GR/Greece
https://taxsummaries.pwc.com/greece/...rporate-income
https://tradingeconomics.com/united-...orate-tax-rate
https://en.wikipedia.org/wiki/Corpor..._United_States
  • #10,277
  • Aug 16, 2022 12:53pm Aug 16, 2022 12:53pm
Quoting TrAndy1
I was on the Paypal Greece website because I did not believe he would be paying 3%. Well, that is only to US bank accounts. Local bank account in same currency, that is what I wrote and meant, is free of any charge. And Voila! He could make a 12 hour withdraw from ICM to Paypal and then from Paypal to his greece bank account within few hours. And all in all also cost free like me in Germany. It is much faster than any international wire too. But he really needs to wire all his money to the USA ? Paypal Greece picture below but auto translated to...
You really need to stop assuming things about people. Theres a lot in your paragraph that basically tells people my personal situation that isnt true. On top of that, if you can read greek, if you take USD payments its a 3% fee. I take USD payments. Accusing me of not wanting to use greek bank accounts and usa accounts and all this bs.. really stop.
  • #10,278
  • Aug 16, 2022 12:54pm Aug 16, 2022 12:54pm
Quoting TrAndy1
Just to understand that. Greek effective corporate tax rate is 21% now. Gain Capital tax rate at 20%. US Corporation tax rate now at 21%, but was higher 8 years ago when Takisd opened his US Corporation. So for trading from US he would need with every better FX broker at least 10 milion in assets. Also tax rates have been higher some years ago in the US. Greek corporation taxes are low. So I do not understand why he needs to trade from US Corp. with IC Markets and cannot have Paypal USA. In addition now Biden and his party wants to increase Corporation...

holy shit you are going overboard. Please quote where I said I have a US corporation?.... I'll wait but I won't hold my breath.

Instead of trying to slander me suggesting im some sort of tax evasion. I highlight the quote I made to you earlier "My country has good dividend structure". Whats your vendetta with me? Why you come in here slandering me with falsities?
  • #10,279
  • Aug 16, 2022 12:56pm Aug 16, 2022 12:56pm
Quoting Takisd
{quote} I take USD payments.
Are you not happy with EURO currency at all. I mean you reside in Greece being Greek, so there is the Euro. If you take Euro payments then it is all free and way faster.
  • #10,280
  • Aug 16, 2022 12:59pm Aug 16, 2022 12:59pm
Quoting Takisd
{quote} holy shit you are going overboard. Please quote where I said I have a US corporation?.... I'll wait but I won't hold my breath. Instead of trying to slander me suggesting im some sort of tax evasion. I highlight the quote I made to you earlier "My country has good dividend structure". Whats your vendetta with me? Why you come in here slandering me with falsities?
Sorry for that. I apologize for that assumption. But when you have a greek corporation why you need to USD payments from ICM withdrawals ? What are the benefits ?
You said you operate as corporation. Then you said you needed to pay 3% for using Paypal to your account. The only option with 3% is using a US bank account. This says Paypal Greece. So if you do not use US bank account but only local bank, as you said now. Then you could use Euro transfers for free too. Why do you need USD ?
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