The Financial Transaction Tax and Disappearing Day Traders

And by the way, at a time when numerous London based traders and trading companies are thinking about getting a foothold in the EU after Brexit, creating unheard-of anti speculation laws is one of the most stupid thing to do... Long Dublin/ Short Frankfurt.
 
TraDaToR said:
Damn... This is really crazy. The goal of this piece of law is to make trading unprofitable for individuals.

Is this new law ratified?Do you know what seasoned traders are doing?

I am sure there must be a few big dax scalpers trading their own money. Are they creating a Gmbh ? Relocating ? Do those trading european markets have to ask for an "investment firm" authorization to Bafin according to Mifid2?
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Yes, it has been ratified and has already been published by and in the Federal Gazette.
The reason why so many came to Germany to trade was 26% tax in US 40% that attracted investors. And now they look stupidly out of the laundry. But see and hear that many are leaving now and of course taking their money with them. Professional private traders anyway !! This is suicide as a business location. I just had it with Sierrchart about it. The tip you gave me is to "leave Germany". I would also like to get out of Germany because the quality of life alone is bad.
I have the Netherlands in focus ...
 
tomtr27 said:
Yes, it has been ratified and has already been published by and in the Federal Gazette.
The reason why so many came to Germany to trade was 26% tax in US 40% that attracted investors. And now they look stupidly out of the laundry. But see and hear that many are leaving now and of course taking their money with them. Professional private traders anyway !! This is suicide as a business location. I just had it with Sierrchart about it. The tip you gave me is to "leave Germany". I would also like to get out of Germany because the quality of life alone is bad.
I have the Netherlands in focus ...
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You have plenty of options, Germany wants to outlaw trading because I suppose plenty of idiots are gambling their life savings away. Profitable traders are just sacrificed in the process. Nanny state in full swing. They should also do the same to businesses because there's a high risk of it going bankrupt. I'm really short on Germany - France - Italy, I don't seen anything positive coming up.
 
TraDaToR said:
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Let's say you have a typical german lawyer invested in 2 different funds to save money, one at Deutsche and one at Commerzbank. He has made 300 K realized P& Lon Deutsche but lost 700 on Commerzbank fund. Does he have to pay 80,25 K euros tax on his 400 K loss? I still can't believe it.
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No it isn't. In that case the new law wouldn't applied, because it's only for forward transactions (Termingeschäfte).
 
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