Does anybody know someone who day trades in Argentina?

ulvihimself

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Hi friends ! Does anyone have an information about day trading ( futures ) in Argentina? I am full time day (scalp) trader and I currently live in US planning to move to Argentina. Is there any restrictions or regulations that would affect my day trading in Argentina? And how wise it is to open a bank account and withdraw some money to Argentinian bank account instead of US accounts? Thanks in advance.
 
I am planning to get a residency and live there for a long time and I was wondering what is the best way to use my trading income there in Argentina. Like transferring money between US and Argentinian bank accounts would be easier to use my main source of income while I stay there? Or everybody does this Western Union thing? I am just trying to figure out what would work better in a long run.
 
Your trading business stays in the U.S. Your trading account stays in the U.S. as does your cash bank account. You do not want to lose your U.S. address or your clearing firm may drop you. Not now...but maybe in the future as NYC changes get tougher all the time. In the future, there may be something you want to buy or trade and a clearing firm might ONLY accept a U.S. passport....maybe..

The long run?.....the day after tomorrow
Argentine bank? You won't even get a toaster.
What to do with your money here? Buy a copy of Mad Magazine and start from there.
 
Your trading business stays in the U.S. Your trading account stays in the U.S. as does your cash bank account. You do not want to lose your U.S. address or your clearing firm may drop you. Not now...but maybe in the future as NYC changes get tougher all the time. In the future, there may be something you want to buy or trade and a clearing firm might ONLY accept a U.S. passport....maybe.

Thank you so much for your reply. I am not US citizen but I have SSN and every other thing , but I totally get your point.
 
Hi friends ! Does anyone have an information about day trading ( futures ) in Argentina? I am full time day (scalp) trader and I currently live in US planning to move to Argentina. Is there any restrictions or regulations that would affect my day trading in Argentina? And how wise it is to open a bank account and withdraw some money to Argentinian bank account instead of US accounts? Thanks in advance.
Slamming your hand in the car door would be quicker and less painful.

You aren't going to be able to open a bank account as a non resident with a meaningful limit (my non resident account allows $200 usd worth of transactions per month), and as a resident you'll be tax resident and get to declare and pay taxes in both the US and Argentina. It isn't so much the taxes as calculating the taxes, and calculating the exchange rate at the moment the trade was realized, which will drive you absolutely insane, aside from the fact that Argentna has an official exchange rate and a street exchange rate. Which exchange rate do you use on your taxes? You could easily be losing money due to inflation yet still owe taxes on the massive percentage gains you've made in pesos. You're damned if you do and damned if you don't.

If you work with crypto you can avoid all of this, but absolutely no good will come of interacting with any bank in Argentina unless it absolutely can't be avoided. I would not want to EVER be in a situation where I was trading any sort of financial asset for a living and declaring taxes in both the US and Argentina. Been there, done that in another South American country in a past life and doing so in Argentina would make your life a living hell.
 
Slamming your hand in the car door would be quicker and less painful.

You aren't going to be able to open a bank account as a non resident with a meaningful limit (my non resident account allows $200 usd worth of transactions per month), and as a resident you'll be tax resident and get to declare and pay taxes in both the US and Argentina. It isn't so much the taxes as calculating the taxes, and calculating the exchange rate at the moment the trade was realized, which will drive you absolutely insane, aside from the fact that Argentna has an official exchange rate and a street exchange rate. Which exchange rate do you use on your taxes? You could easily be losing money due to inflation yet still owe taxes on the massive percentage gains you've made in pesos. You're damned if you do and damned if you don't.

If you work with crypto you can avoid all of this, but absolutely no good will come of interacting with any bank in Argentina unless it absolutely can't be avoided. I would not want to EVER be in a situation where I was trading any sort of financial asset for a living and declaring taxes in both the US and Argentina. Been there, done that in another South American country in a past life and doing so in Argentina would make your life a living hell.
Thank you for detailed reply my friend, but then how you guys transfer money to spend in Argentina? I
 
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