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Where Taxpayers and Advisers Meet

Sic Code for Forex trading Contractor / Day trader

good2bme
Posts:2
Joined:Tue Oct 27, 2020 9:39 am
Sic Code for Forex trading Contractor / Day trader

Postby good2bme » Tue Oct 27, 2020 10:19 am

Hi All,

Looking to form a company to incorporate my proprietary trading activities. I currently have what is commonly referred to as a "funded trader account", where I earn share of the profit from trading activity where the account owner copies my trades which are placed on a demo account into there own pooled funds account. In relation to there business activities I am not considered an employee but an external contractor. I currently trade forex and futures in this way.

To they best of my knowledge and the information provide by both companies, this is not a regulated activity and I do not require FCA approval as I am not placing real money trades with other peoples money.

Is anyone aware of an appropriate SIC Code to use when forming a company for the purposes described above.

Thanks in Advance.

robbob
Posts:3228
Joined:Wed Aug 06, 2008 4:01 pm

Re: Sic Code for Forex trading Contractor / Day trader

Postby robbob » Tue Oct 27, 2020 11:20 am

If you are seeking something nondescript then how about

63990 Other information service activities n.e.c.

sounds about right if you are providing information and earning a fee based on that info being useful.

note n.e.c means not elsewhere classified.

MechJony
Posts:1
Joined:Wed Sep 15, 2021 1:16 pm

Re: Sic Code for Forex trading Contractor / Day trader

Postby MechJony » Fri Sep 23, 2022 4:08 pm

I thought there were no taxes at all for traders


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