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Fees and taxes are an essential consideration when trading in binary options. While in isolation, these charges may seem quite low and therefore of little significance, when you are trading regularly, making regular deposits, trades and withdrawals, they soon mount up. more


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For US citizens, if you earn more than $600 in a fiscal year, then you owe the government a cut of your earnings. That applies to all sources of income, whether you’re sweating in a mechanic’s shop or making money through binary options trading. How are taxes for binary options traders assessed, though? more


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In general, binary options are considered gaming, although that is liable to change in the near future. As such taxes on winnings from binary options would fall under the tax code that incorporates gaming. However, depending on your winnings you may not have to pay anything. more


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11-05-2013 · I'm sure they pay taxes in Cyprus, but if you're in the US, that has no bearing on you. No company from Cyprus that I know of collects your social security number. Now I'm not saying that it would be a good idea to duck the government, but until you actually pull money from the binary options account into your bank account, I can't imagine why anyone would need to claim anything. more


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