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This is Bulgarian MT3 and MT4 broker (part of multinational holding, 16 year old).
1. EURUSD, EURGBP, USDJPY - 3 pip fixed spread
2. 200:1 Leverage
3. Broker division is 2 years old
4. Mini accounts - 50 USD or EUR
5. Zero downtime - Real server has 7 access points (IP addresses) on 3 different Internet Providers (Optic chanell, Radio channell and own Satellite channell)
also:
1. Fast Instant execution (< 1s)
2. Legal company (no offshore) with all reguired licenses
3. FOREX Leader in Bulgaria with Best trading conditions
4. Guaranted No Slippage (ALWAYS !!!)
5. Fixed Spread (ALWAYS !!!)
6. Min Lot: 0.01 (1k)
7. Margin Call: 50%
8. Stop Out Level: 20%
Also offers direct access to interbank market with average spread of 1 pip (with platform STS Finance Trader Workstation - Bulgarian Introducing Broker of Interactive Brokers, USA).
Hi Mateev, I've just read the trading agrement and apperantely STS deduct 15% tax from the client profit Is it true ? Thank you in advance
__________________ David Michael H
"Trader helps traders with sincerity, honesty and integrity"
STS Finance is licensed brokerage company from Bulgarian National Bank and the Committee of Financial Supervision. The company is member of Bulgarian Stock Exchange and Central depository. We offer to our customers wide range of investment products:
FOREX - Meta Trader 3 ; Meta Trader 4 (client optional)
International stocks and derivates - STS Finance is intrducing broker of Interactive Brokers LLC.
Trading on Bulgarian Stock Exchange - electronic acces to exchange floor via Cobos system
Asset managemt - individual customer's portfolios
Investment projects - IPO's, Bonds, direct investmenst e.t.c.
taxes:
According to the Bulgarian legislation, Law for Corporate Income Taxation, article 34, the profit (the difference between the initial deposit and the ending balance on the date of submitting a withdrawal request form) made in brokerage houses seated in Bulgaria by residents of foreign countries is subject to 15% tax. In compliance to this law, 15% from the Client’s profit will be deducted from the Client’s account by STS Finance and will not be available for withdrawal.
The Client is exempt from this tax if there is a treaty for avoiding double taxation signed between Bulgaria and the country of residence of the Client, and according to this treaty the revenues from foreign exchange trading are subject to taxation in the Client’s country of residence. The Client has to provide STS Finance with the set of documents needed to prove the case.
We offer to our customers high level of guarantee for their funds, order executions and service.The customers assets (accounts) are insured by Fund for compensation of investos and STS Finance is fully obligated to reach authority and Law regulations.
Have a nice trend !
Ivo Seizov
Member of the Management Board
STS Finance
They used to increase their spread from -2 to -12 pips at news release time.
I saw this many times. Only looking to hit our stop loss limit
Anyway I also used FXCM the spread is FIX -3 but I am now looking for a more tight spreads. Also FXCM is not a good broker. They also run the dealing desk they are Market Marker + Broker ;-)
I read it many times in different forums that FXCM lose when client win.
Means they open lots against their clients positions.
Because they know the clients positions due to their deailing desk.
Anyway I am looking for a -2 pip spread in EUR/USD.
I found Oanda they offer -1.5 pip spread in EUR/USD but the leverage is only 50:1 while mostly brokers offer 200:1 leverage.
anyway thanks for helping.
Best Wishes,
DAVE
I also heard good things about Oanda but they offer variable spread and 50:1 leverage...
sounds like we can make 15% MORE using another broker!
Quote:
Originally Posted by STS Management
STS Finance is licensed brokerage company from Bulgarian National Bank and the Committee of Financial Supervision. The company is member of Bulgarian Stock Exchange and Central depository. We offer to our customers wide range of investment products:
FOREX - Meta Trader 3 ; Meta Trader 4 (client optional)
International stocks and derivates - STS Finance is intrducing broker of Interactive Brokers LLC.
Trading on Bulgarian Stock Exchange - electronic acces to exchange floor via Cobos system
Asset managemt - individual customer's portfolios
Investment projects - IPO's, Bonds, direct investmenst e.t.c.
taxes:
According to the Bulgarian legislation, Law for Corporate Income Taxation, article 34, the profit (the difference between the initial deposit and the ending balance on the date of submitting a withdrawal request form) made in brokerage houses seated in Bulgaria by residents of foreign countries is subject to 15% tax. In compliance to this law, 15% from the Client’s profit will be deducted from the Client’s account by STS Finance and will not be available for withdrawal.
The Client is exempt from this tax if there is a treaty for avoiding double taxation signed between Bulgaria and the country of residence of the Client, and according to this treaty the revenues from foreign exchange trading are subject to taxation in the Client’s country of residence. The Client has to provide STS Finance with the set of documents needed to prove the case.
We offer to our customers high level of guarantee for their funds, order executions and service.The customers assets (accounts) are insured by Fund for compensation of investos and STS Finance is fully obligated to reach authority and Law regulations.
Have a nice trend !
Ivo Seizov
Member of the Management Board
STS Finance
cc, I think for most people in most countries there is no 15% because of DTTs like STS said.
What I'm more confused about though is why a Bulgarian broker is much better than an offshore broker.
For most people is more!! If you pay 30 % taxes for your income you als have to pay 30 % for forex wins.
They do it, because they don´t want that you transfer `black-money`.
In Swiss the same will be in 1-2 years. If you have an account in USA, you pay no taxes in USA . if you don´t pay taxes also in Germany you can go in prison . so are taxlaws in germany. and bulgaria wants to become EU Member and so they have to do it as they do it now.
if you buy a house and you have a lot of money and you can`t say where it comes from you have a BIG problem. if they find an account in foreign country they will ask and they will get an answer from the broker. I think offshore broker also.
Last edited by haubentaucher; 04-19-2006 at 05:57 PM.
If it comes to taxes, you'll have to pay it that way or another.
Tax system can vary in diffrent countries, in most of them capital gains tax exists, so you have to pay it, if it does't exist you have to sum up all of your incomes including forex gains and pay tax according to normal tax rate that is binding everyone.
So i think it is better when they separate capital gain tax from personal tax and give it a lower rate, for example 15% not 40%.
Someone said Oanda has low leverage
if you really know what trading is about, 50:1 would be too much for you,
I can't even imagine how can someone trade at 200:1 or 400:1
for me that is suicide, if you use it on such a hard market as forex where liquidity can kill you in seconds on 400:1.
greets
__________________
It's not trading for living, it's living for trading
Is it true ? Thank you in advance 
Interbankfx
???
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