Does anybody know someone who day trades in Argentina?

[carride]

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.

Open a brokerage account here, and wire the money directly instead of wiring to a local bank. https://cocos.capital/ https://balanz.com/ or any of the other modern argentina brokerages with zero or low fees via online ordering. When you have your residency DNI. Talk to them when you have residency application in process to see if opening account is possible.

No comment on long term or day trading of "Acciones". Most people start with funds and ETFs (Fondos Renta Fija and CEDARs de ETF). Suggest you go to the internet conversation r/merval

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?

 

[Frinkiac8]

I assume you would just keep trading US stocks with your US-based account. Just keep everything the way it is and as long as you have an internet connection, you should be fine. I have never encountered any kind of "geo-fencing" that would lock you out from trading a US based account merely because you were overseas. Even if there were, you could probably get around that easily. I would maintain a US-based address (PO box if need be).

 

[Caribbean Cool]

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.

Well, this reply is going to xxxx off the pope and the members here. You can message me directly. I know more about trading than everyone here...put together. And yes...more than you. I am a provocateur.

 

[redlobster]

I know more about trading than everyone here...put together. And yes...more than you. I am a provocateur.

Please don't be offended, but based on the fact that you can't afford medical insurance here, it seems that your extensive knowledge of trading hasn't brought you many benefits in life.

 

[elhombresinnombre]

Please don't be offended, but based on the fact that you can't afford medical insurance here, it seems that your extensive knowledge of trading hasn't brought you many benefits in life.

Yeah. But he's absolutely ace at trading in bicycles!

 

[Gringo80]

Suggestion.... open an account at a mail handling center (like Super Postal Center) before you leave. Have all your IRS and other government mail sent there. You'll need it and it'll be harder to open once you leave.

 

[Summer]

I assume you would just keep trading US stocks with your US-based account. Just keep everything the way it is and as long as you have an internet connection, you should be fine. I have never encountered any kind of "geo-fencing" that would lock you out from trading a US based account merely because you were overseas. Even if there were, you could probably get around that easily. I would maintain a US-based address (PO box if need be).

The patriot act requires a physical address, not just a mailing address.

One of the best options I’ve seen is South Dakota gives residence to anyone in the state for 24 hours if also using a mail forwarder in the state. The hotel you stay at counts as a physical address, then mailing address is the SD mail forwarder.

Some brokers allow foreign addresses for expats. However if the OP isn’t a U.S. citizen they might want to look at offshore brokers.

 

[Brian_is_here]

Wat, as long as you don't explicitly tell your bank/broker "HEY BRO I'M LIVING IN ARGENTINA CAN YOU STILL SERVICE ME".

The bank/broker won't care, your money is still good and they aint the cops. If you're living abroad and don't do or say anything that indicates that you aren't a USA tax resident, the bank/broker will continue to do business with you. They'll comply with Patriot Act via an address verification. So set your account up now and the bank likely won't do anything.

1. Use a residential address (not VMB or PO box as that's against the Patriot Act). (The wise will pick a no state income tax state) (Family or Friends are good)
2. Get a Virtual Mailbox for mail. (Don't use or try to use this as your physical address)
3. Go entirely paperless. (Optional but hey, don't make waste or make the occupant at the address upset)
4. Don't tell your bank anything about living abroad ever. Actually just never talk to them.
5. Get a USA phone number and maintain it for text messages for 2fa. Never use a foreign number. Patriot act.

If you can't afford to maintain a USA phone (google fi) and a VMB for receiving mail as your mailing address... you probably aren't a very successful day trader and also probably can't afford to live abroad anyways...

 

[Caribbean Cool]

Yeah. But he's absolutely ace at trading in bicycles!

My bicycle trading prowess is truly lacking. The medical insurance (at $700 or $800 a month) offered here is a disaster and having the luxury of being able to self-insure and have a worldwide cancer/stroke/ heart plan purchased in the U.S.....that pays over $70.000 helps with self-insurance. Again, my bicycle trading is awful but when I was with Wheeler Munger I did not trade bicycles....but alas....I was a bit younger then.

 

[Gringo80]

Wat, as long as you don't explicitly tell your bank/broker "HEY BRO I'M LIVING IN ARGENTINA CAN YOU STILL SERVICE ME".

The bank/broker won't care, your money is still good and they aint the cops. If you're living abroad and don't do or say anything that indicates that you aren't a USA tax resident, the bank/broker will continue to do business with you. They'll comply with Patriot Act via an address verification. So set your account up now and the bank likely won't do anything.

1. Use a residential address (not VMB or PO box as that's against the Patriot Act). (The wise will pick a no state income tax state) (Family or Friends are good)
2. Get a Virtual Mailbox for mail. (Don't use or try to use this as your physical address)
3. Go entirely paperless. (Optional but hey, don't make waste or make the occupant at the address upset)
4. Don't tell your bank anything about living abroad ever. Actually just never talk to them.
5. Get a USA phone number and maintain it for text messages for 2fa. Never use a foreign number. Patriot act.

If you can't afford to maintain a USA phone (google fi) and a VMB for receiving mail as your mailing address... you probably aren't a very successful day trader and also probably can't afford to live abroad anyways...

All good advice.
You will need to maintain a valid drivers license, a physical address and a vmb.
Also, receiving SMS codes here is vital. Before you leave make sure you have activated a cell service that will send your codes here (there are lots of threads on this subject on baexpats).