Aussie Forex & Finance - AFF Group

For Canadian Clients of VantageFX (or Canadian Forex Traders in General)

As you likely already know, VantageFX will no longer service Canadians residents as of Nov 30th. This is unfortunate, since VantageFX has done an excellent job serving Canadian clients with higher leverage account options from a well regulated and trusted broker.
Through contacts in the industry, we've been made aware of a new retail account offering at Pacific Union. Pacific Union has a good history of servicing institutional accounts and has only just started taking on retail clients, but they are positioned to service the Canadian clients in the space that VantageFX has left behind.
Further, we were made aware of Pacific Union first by contacts at VantageFX, and then this recommendation was backed up by a trusted source who works closely with both companies.
Again, to be very clear, this post isn't to give undue attention to some random broker.. we are providing this info because Pacific Union is a proper alternative for Canadian based traders that will no longer be serviced by VantageFX.
On that note, I've updated the wiki to include Pacific Union Prime - https://puprime.com:
Subreddit's Canadian Brokers Wiki Page
The only major difference I have noticed so far is lacking MT5, but the word is that Pacific Union will be reviewing MT5 and other enhancements to their offing next quarter after they get past the launch of their retail offering.
Key highlights from my perspective:
Remember, going offshore means you lose CIPF protection on funds, so a well vetted and properly regulated broker is a must!
UPDATE #1: Oct 6th: Took this post off sticky and redacted some info as the connection between VantageFX and Pacific Union Prime was not "official". Pacific Union is still a great alternative / replacement for Canadian clients seeing higher leverage accounts and who are no longer serviced after VantageFX left Canada.
UPDATE #2, Oct 8th: Adjusted this thread again to best reflect where Pacific Union Prime fits with VantageFX and former Canadian VantageFX cleints.
submitted by finance_student to Forex [link] [comments]

Dollar set for biggest weekly rise since early April as euro tumbles

This is the best tl;dr I could make, original reduced by 51%. (I'm a bot)
LONDON - The dollar gained on Friday and is set for its biggest weekly rise since early April as the euro weakened after a European Union meeting on Thursday to build a trillion euro emergency fund fell short of satisfying investors' concerns.
The euro weakened broadly on Friday, falling 0.4% against the U.S. dollar to a one-month low at $1.07275 and a three-year low versus the yen at 115.55 yen.
Though the outcome of the EU meeting fell short on details on the fund, specifically in terms of how it will be financed or whether it will be linked to the EU budget, some analysts took heart from the fact that the meeting didn't break up in acrimony.
The euro's losses sent the greenback on track for its biggest weekly rise since early April.
Against a basket of its rivals, the dollar was up 0.2% at 100.72.
The Aussie and kiwi each shed about 0.2%, holding the kiwi below 60 cents at $0.5996 and the Aussie at $0.6359, beneath resistance around 64 cents per dollar.
Summary Source | FAQ | Feedback | Top keywords: dollar#1 euro#2 meeting#3 weekly#4 rise#5
Post found in /worldnews.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
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Some questions for Aussie Nomads

Hey guys,
I've got a few specific questions that fellows Aussies would be best situated to answer.

Taxes:
I've done the tax residency test and I might be able to declare myself a foreign resident for tax purposes. I believe I can answer No to this question " Are / were you an Australian resident for tax purposes immediately before leaving Australia? *" Because I've been living overseas "permanently" for the last 7 years, therefore not paying tax in Australia (I was under the threshold during that time, anyway. I've been in Australia for just two months on a holiday.
Any idea if that qualifies me as a non-resident? If it does, is there any obligation to prove I'm paying tax in another country (obviously not something I want to do as a DM, i.e. too much hassle getting a work visa and TFN in each country). Note I only earn 30,000-40,000 AUD, so hardly a big fish for the ATO to chase up.
According to ATO "As a foreign resident, you only need to lodge annual Australian income tax returns if you receive income from sources in Australia."
Does money earned while physically overseas (DNing) that comes through an Aussie bank account count as "in australia?" What about earnings from Aussie clients while physically overseas?
I'd obviously prefer to discuss this with a qualified accountant but I've read many charge upwards of $5000 for a letter of advice. Any recommendations for cheaper services/costings?
Expenses and filing:
I guess I can claim for some work expenses such as laptops, internet, maybe even some travel (I do a lot of travel writing). Do I need to do anything other than keeping electronic receipts and claiming them at the EOFY? Should I get an accountant involved or is being a freelancer simple enough to file solo?
ABN:
Say I go down the Australian resident for tax purposes route (which I'll probably have to), do I need an ABN for my freelance business? I work independently as a content writer, with most payments coming through PayPal and ultimately my Australian account.
Insurance:
It seems to me that global health/expat insurance is only really useful for Yankees (and others) who pay out the arse for coverage in their home country. If I got cancer or whatever other chronic illness I'd just fly home for treatment on Medicare. Therefore, travel insurance is more suitable for us.
Any holes to the logic in this line of reasoning?
Any travel insurance that's particularly good value for the DNs?
Finances:
I've got a Citibank Plus account which has an awesome no-fee withdrawal policy.
But what about being paid? I normally receive money in PayPal (fees) and send it to my Australian bank (more fees) before withdrawing in local currency (minor forex fee). Anyone found a better way for Australians to do this?

I know that's a lot. If anyone can answer any of the above from personal experience than I'd be super appreciative :-)

submitted by hazzdawg to digitalnomad [link] [comments]

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