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I've been using Nevis for 3 years and so far so good. Prior to that I used Echotrade for 11 years. Downtime was more frequent at Echo than Nevis. I've had no issues with Nevis so far.

Arnie, If they implement 0.01% tax, it will gradually increase. Very hard to remove a tax after it's implemented.

Thanks, your answer makes sense. In the end it will be a trade off, I guess.

I traded some Italian ADRs just to test (thtough IB). IB charged me with FTT. So it seems like IB accepts this tax without any hesitation. What are the leislation about this? I know there is tax cooperation for VAT and sales tax, but...

Hi, I like to trade ADR's. Are daytrades in French ADR exempt? I have tried to find info, but can't find any at IB's website.

"The Commission and the Parliament have argued that the tax will encourage pension funds to buy and hold assets to maturity." If so, it shows they are completely illiterate about this topic (but we already knew). They want a static society with no flexible capital allocations?

Interesting development. I still think it's more likely FTT will not happen than it will. Edit: I mean in Europe, not US.

It's beyond me how this can be legislated. This is so far reaching and I find it hard that they can agree on this.

The last link proves that most people give a damn until it happens.

I'm envious that you can manage to ignore all this talk of the FTT. I can't. Not because I trade for a living, but more for my pensions. The rates mentioned by the EU is quite high.

Good for you! What do you do when they make a FTT on the Kospi? Trade the OBX in Norway or in Moscow?

Hi, I live in Latvia. It's impossible to know what they will vote. Politics is not as common among people here as in the West, so it's always difficult to know what is going on. However, my feeling is that they are against it, but on the other hand they receive a lot of money from the EU, so...

Isn't it better to focus on the pensions? Most people give a damn whether you have to stop trading. If they levy an FTT this will most likely reduce your pension 5-15% per year. As far as I can see, this is a much better argument (?).

Handelsblatt says there must be other reasons for moving than just to circumvent the FTT. If not, they'll overrule it (the EU). That's what it says.

This attitude is pissing me off: a new tax is all right as long as there is an exemption for themselves. The next time it will boomerang. Why doesn't people think in terms of principles and for the long run?

Funny stuff. How do they know it's pensions? I have 40% of my pensions in those evil hedgefunds. I guess you have to pay the tax if you manage your pension on your own?

Hi, As regards Southall's last comment: You UK's stamp tax has territorial reach? I wasn't aware that, if that's the case. I have traded many UK ADR's in the US, and never been charged stamp duty.

If Britain votes yes, that is a pity no matter what. Who knows what the future brings?

“The FTT will apply to financial institutions transacting French-issued shares anywhere in the world. This is similar to the UK stamp duty and financial institutions do not complain about being hit by that,” he said." This is from the link above. This must be wrong? Perhaps the journalist...

Let's say they do it, then accountants will have a lot to do by setting up corporations all over the world to avoid the tax (?). And what is a German based company? Where the headquarter is? Some compamies might even relocate if it's getting harder to raise capital because of this.