Forex trading as an international student

[extraguy]

Hello, i am an international student and wanted to know if forex trading is considered self employment. If yes then how are the hours counted?

I usually hold my trades for 10-24 hrs, so will my working hrs be 10-24 hrs?
Ofc i dont sit in front of my computer for these long hrs. I only check on my trades every 2-4 hrs and it takes less than 5 minutes. Sometimes 10 to 30 minutes, it depends.

So how does this counting hrs for self employed international students really work?

What actions have immigration office taken when the working hrs of international students exceeds 20hr?

I will be in British Colombia btw.

 

[forevermore76]

Hello, i am an international student and wanted to know if forex trading is considered self employment. If yes then how are the hours counted?

I usually hold my trades for 10-24 hrs, so will my working hrs be 10-24 hrs?
Ofc i dont sit in front of my computer for these long hrs. I only check on my trades every 2-4 hrs and it takes less than 5 minutes. Sometimes 10 to 30 minutes, it depends.

So how does this counting hrs for self employed international students really work?

What actions have immigration office taken when the working hrs of international students exceeds 20hr?

I will be in British Colombia btw.

CRA determines if your income qualifies as business income based on the volume of transactions. If you claim deductions related to business, you are self employed. Self-employment will very likely be restricted and this will be clearly mentioned on your study/work permit.

Overall, it's in grey area but the volume and income will be the determinants.

If you violate conditions on your student permit, you not only risk PGWP but also implicate all future applications.

 

[raccoonboy]

They'll be interested in knowing how many hours per week you are actually spending on actively running your business, i.e. how much time you spend actively monitoring the markets and making trades. Make sure you always stay under the limit for hours worked - I'm not a lawyer but I wouldn't think you'll have any problems if you just do that. This doesn't sound like a business that will take up a lot of time unless you're doing a huge volume of trades at all hours.

 

[forevermore76]

They'll be interested in knowing how many hours per week you are actually spending on actively running your business, i.e. how much time you spend actively monitoring the markets and making trades. Make sure you always stay under the limit for hours worked - I'm not a lawyer but I wouldn't think you'll have any problems if you just do that. This doesn't sound like a business that will take up a lot of time unless you're doing a huge volume of trades at all hours.

This is not the best advice. Most temporary residents are restricted from engaging in self-employment through a condition specifically noted on study/work permit.

 

[raccoonboy]

This is not the best advice. Most temporary residents are restricted from engaging in self-employment through a condition specifically noted on study/work permit.

That's fair. To be clear, I'm saying one has to keep one's self-employment hours below the limit. If the limit is zero, then no self-employment work can be performed.