/biz/ - Business & Finance

basically, when is robinhood coming to europe? give me an estimate

>>1849838
Most EU regulations makes it almost impossible for that to happen. You're better off moving to Eastern European countries like Romania or Bulgaria where there there are no regulations.

Part of it are fees and taxes the exchanges demand, so I doubt they'll ever get rid of it completely.

DeGiro is pretty much the dumping broker of Europe. Very little fees. It's utter shit and doesn't handle your taxes for you - but hey, it's cheap, if that's really all you're looking for.

>>1849863
That's bullshit.
If Bulgaria or Romania have no regulations than you could use their service without moving.

>the free movement of goods, capital, services, and people – the "four freedoms" – within the European Union

I can live in Germany, work in France, have accounts in Italy, visit doctors in the Netherlands and so on.

>>1849834
You dont.

/thread

>>1849863
Huh ? I live in Romania. What can I use here?

>>1849875
That's a good thing though... If I would take a German broker taxes would be paid instantly after selling. With degiro I can keep my money until I have to pay my yearly taxes. More money equals more profit

>>1850041
I don't know about German tax law, but my tax man ain't having none of that.

If I manually report my capital gains I automatically get last year's taxes plus 4% split into quarterly preliminary payments. At the end of the year when I report the actual numbers I either get money back or pay the rest. Then that number plus 4% counts for the next year again. So if you're having a bad year they're actively forcing you to pay more in advance. I'd be surprised if the Germans would simply lend you the money until the year is over.

Also, depending on how many trades you do it can get to be quite a hassle keeping track of all of the profits and losses, since the tax overview DeGiro provides you with is completely worthless, wrong and non-compliant with domestic tax law. And it's a different number than your investment tracking since it's calculated differently from basic ROI - you can't deduct fees or transaction costs for starters and a bunch of other weird things. Meanwhile a domestic broker would have to keep track *and* net profits/losses on their own.

We also have insane tax laws that make calculating your capital gains tax an arcane science. By law most funds are transparent, which means regardless of what they pay out, you're paying taxes on their internal profits as if you held your share of the contents in your own portfolio. So even just holding a position without getting any money out accrues capital gains taxes on dividends and profits, but only some of them and discounted in a weird way. I honestly don't want to deal with that shit every fucking year.

And of course anyone manually reporting is much more likely to be audited.

To me it's not worth it. Not by a long-shot. There is virtually no gain in terms of having more money before paying taxes due to the preliminary payments. It's a huge timesink and liability if you fuck up. No thanks, not worth the slightly cheaper fees.

>>1850037
Your Bank

>>1850051
Elaborate.

>>1849834
cfds are your best bet for trading

>>1850213
Like, in our country we have shitty brokers.
So I'm buying stock through my bank. fees are around 2 - 5€

>>1850268
>buying a stock through your bank in romania

lmao

please tell me you do not do this. i don't even live in eastern "europe" and I know this is asking for it.

avatrade has zero commission but high spreads they also have pretty low swap rates since its impossible to daytrade with those spreads

>>1850266
how's xcfd.com?

>>1850268

How do you do that? What bank are you using that does this?

>>1850805

itp: spread isnt commission

DeGiro my nigga. Been using it for 2 years now

>>1850266
>CFD
>trading
what's next? all on red?

>>1849991
Country regulations exist side by side with eu regulations.