Setting Up An LLC from the UK to day trade in US

[fxtrader01]

Hi,

I am currently a forex trader but have recently started to venture out into day trading US equities. From my research, quite a few brokers will not accept UK clients. I was wondering if a possible workaround to this could be to set up an LLC in the US and open an account through the LLC. From some of the other threads I have read on here, there are no tax benefits to this but I would be able to write off some expenses. Other than this, would it make sense to start up an LLC or is it not worth the time and money?

I appreciate any help.

 

[Quiet1]

What's wrong with trading via interactive brokers?

 

[fxtrader01]

My main issue with IB is their platform. It isn't the best to use and I find that it can be laggy at times which is annoying for execution

 

[Johnny7]

You can now partner TradeStation with interactive brokers or go directly to trade station. Us equity companies like lightspeed are fast. Also you can use Das pro with interactive brokers. Das pro is $150 dollars a month, which includes fast data and the execution software. I believe that your fills will be fast. Call Das Pro to ask any questions about speed. I am with interactive brokers but half tempted to find out if I can use the trade station front end with no delay etc. I am taking position trades with equity’s with less scalps so not so concerned with ultra fast transactions. Interactive broker use filtered data which you can definitely notice especially trading futures compared with amp using the TT trading technologies software. Hope that your all sorted now

 

[Trading Spaces]

www.ninjatrader.com
www.motivewave.com
www.sierrachart.com
www.medvedtrader.com

I am sure there are others all act as a front end to interactive brokers.

www.multicharts.com
www.esignal.com

 

[awe]

There are a couple of us from T2W that day-trade US equities and we've recently set-up a free trading chat room. We're normally active from at least the half hour before the open - anyone viewing is very welcome to join us - https://discord.gg/vWkYxdG

I would be very interested as a fellow UK resident to discuss brokers and platforms as I currently use IB for everything and have always found it cumbersome and slow.

 

[rattbatnoce1971]

Thank you very much for the information. Isn't it more profitable to open an LLC? Someone told me that it is more profitable

 

[Blonde_Angel]

Hiya,



If someone establishes an LLC in the US(whichever state) while she/he lives in the UK(UK tx resident individual) still the LLC is subject to the UK corporate tx(as of today 20%). Thus do you mean you open an LLC and hide the fact to UK local tx office that you own that LLC you mean?
I don't mean to interfere in anyone's personal and financial affairs including the op, but my query was how legal tx avoidance shall be done to address this subject, please?
Can someone experienced or a tx accountant clarify this for us, please?


Tnx and best of luck

 

[Barkes]

How exactly are you going to trade in the USA if your LLC company is located in another country?

 

[corissaaskew]

How exactly are you going to trade in the USA if your LLC company is located in another country?

Probably, you can make this trade if you discuss your plan with a lawyer or financial adviser. These experts are far-sighted enough to advise you on similar operations from the UK to trade in the USA. I don't know how much such consultation will cost. However, when you create an LLC, you will talk to a lawyer in any case. If you don't understand much about the difference between Professional LLC and Professional Corporation, I'd advise you to click for more info. You cannot open your own business or plan to run a company without understanding what you are doing. It's not as easy as it seems at first glance. I know what I'm talking about because when I opened my LLC, I messed up a lot of firewood and mismanaged finances because I thought I didn't need an accountant.