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Is scalping trading illegal? – Swing Trading Strategies For Beginners

Yes. As it is now, this is a grey area for tax authorities – and even the police are unsure it’s legal. The only way you can sell shares without being a member of the scheme might be if you’re part of an exchange or if you’re an operator of a service that allows investors to trade in shares without paying a commission. (To clarify: if you’ve set up a trading website, then you probably aren’t in the grey area, as the regulator believes that the “whole trader” doctrine applies.)

What happens if you join a trade with the intention of using it as leverage?

If you wish to use leverage in a trade to sell your shares then you must hold shares that have been made available for trading. You do not need to own shares to join a trade if they are making available shares and you have paid into the scheme as part of the “whole trader” approach (although it is perfectly legal to buy shares but you are expected to sell them to be part of the scheme) so long as all the shares are available for trading.
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How much will it cost to join the scheme?

It depends. When you register for the scheme you are entitled to participate for up to 6 weeks – that is, in case of an early exit, you will still be entitled to participate in this tax free scheme. After 6 weeks, you must pay a small amount of compensation – in relation to shares you own and the cost of the program. But if you withdraw your participation before 6 weeks, you will not be able to enter any more trade. If you have already joined the scheme, this will be the same as joining a registered scheme. You need to pay a maximum of €300 (plus any penalty the tax authority impose).

What if I haven’t joined the scheme yet?

If you don’t like the programme, you have a week or so to decide whether you have a good reason not to join it. You will not be eligible to participate if you haven’t been paying into the tax-sheltered scheme for a certain amount of time or if you’ve been trading a large number of shares in one trade. If you are a member while you are using the programme, any profits from the scheme will come out of your overall net account and won’t be deductible in your taxable income. But if you withdraw any part of the scheme before the “whole trader” phase, you will be entitled to participate for the full 6 weeks,

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