Prop firm trading in UAE
- Thread starter Thomas67
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Just look at the footer at every prop firm , no one uses real accounts. In every footer the page states that you are trading "simulated accounts". Most use eightcap or thinkmarkets(Proprietary trading | ThinkMarkets) .You can use one of these "ready-made" solution or just ask an broker of your choice for docs and let a dev implement it himself. If you need a dev with experience with prop firms or have other questions you can contact︀ me . Examples :
But watchout there︅ are a lot of prop trading solutions providers that are shady .
They all use︆ the metatrader broker api to monitor access & manage evals etc.. But be really cautious︇ which provider you choose or if you want to do it on your own (which︈ I recommend )
But watchout there︅ are a lot of prop trading solutions providers that are shady .
They all use︆ the metatrader broker api to monitor access & manage evals etc.. But be really cautious︇ which provider you choose or if you want to do it on your own (which︈ I recommend )
Thanks for︃ your view and proposal. Yes I know these prop firms, how they work, and the︄ fact that demo accounts are being used.
This thread is actually more about the regulations︅ present in UAE (e.g. which decree), that could enforce traders to have a license for︆ prop firms trading, given the remuneration they can receive from them; considering this is indeed︇ on a demo account and there is no direct fund management.
This thread is actually more about the regulations︅ present in UAE (e.g. which decree), that could enforce traders to have a license for︆ prop firms trading, given the remuneration they can receive from them; considering this is indeed︇ on a demo account and there is no direct fund management.
@aniglo22 is it doable to make the prop trading entity, or a contractor to multiple prop trading firms, as a legit UAE business entity ? Sorry for delayed bump, I found this in search, and found you the prop firm guru.
Since @Fred went off,and some tax rules coming in the UAE, I am not sure what are the issues and process in UAE banking setup nowadays. There are some prop firms in UAE itself, so it MIGHT not be a problem, but thats a different entity.
If a UAE expert wants to chime in, theyr'e welcome.
Since @Fred went off,and some tax rules coming in the UAE, I am not sure what are the issues and process in UAE banking setup nowadays. There are some prop firms in UAE itself, so it MIGHT not be a problem, but thats a different entity.
If a UAE expert wants to chime in, theyr'e welcome.
Ok I see your point only now. Other people share your view, thanks very much for having shared it. I agree that no financial service would be provided since it's only a fictive trading environment.
Hence I assume the revenue (if high enough given the min threshold) will still need to be reported in tax return without license needed, and that the activity wouldn't be seen as consultancy either? Did you consult a compliance legal advisor on this matter? Feel free to dm if you︀ prefer.
Hence I assume the revenue (if high enough given the min threshold) will still need to be reported in tax return without license needed, and that the activity wouldn't be seen as consultancy either? Did you consult a compliance legal advisor on this matter? Feel free to dm if you︀ prefer.
That's what I assumed. Probably even in free zones like DMCC. Doesn't look like prop trading qualifies for 0%. Only regulated funds.
Many individual traders have relocated to the UAE in recent years to take advantage of the 0% personal tax rate. The question is whether UAE tax authority will scrutinize them. Especially with high turnover.
Bahrain looks like a better place.
Many individual traders have relocated to the UAE in recent years to take advantage of the 0% personal tax rate. The question is whether UAE tax authority will scrutinize them. Especially with high turnover.
Bahrain looks like a better place.
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