Britain is undoubtedly one of the best places in the world to be a trader. There are good regulations; the government supports the industry, many trading companies, and opportunities you can only find in other trading sanctuaries. However, taxes can be high, and competition stiff, making trading in other places, such as Costa Rica, a viable option.
Costa Rica is one of South America’s trading tax havens with a secure and business-friendly environment. And considering you still have access to the best stock brokers in the UK while in the country, a move to Costa Rica may not be that far-fetched. This piece will look at online trading platforms you can use while in this South American country and some of its benefits.
International Brokers in Costa Rica
eToro is an international trading platform available in Costa Rica. It hosts financial instruments such as cryptocurrencies, ETFs, and stocks, as well as a vibrant and active community from its social features. The platform’s easy-to-use user interface is excellent for beginner and intermediate trades, and you will appreciate the vast learning materials available. However, fees on the platform can be a bit high and might impede your trading efforts if you’re trying to keep your overheads low.
2. Saxo Bank
Saxo Bank is a Danish online trading platform available in the UK and Costa Rica. It is one of the most trusted online platforms, with a trust score of 99 out of 99, and registered in six tier-one jurisdictions. This makes it one of the most trusted platforms we know. It hosts over 60,000 financial instruments and a wide range of research and analytical tools to aid your trading. It also publishes daily spread data from its trading sessions for further transparency and assistance to traders.
Furthermore, the platform has one of the best trading experiences of all online trading platforms and a supplement of learning materials you can use to enhance your skills.
Avatrade is an Irish trading platform registered under the Central Bank of Ireland and other reputable authorities. If you trade on the platform, you will also be glad to learn that it’s available in Costa Rica and still get the same fantastic trading experience. The platform offers numerous deposit and withdrawal options, as well as various research and analytical tools. However, high fees are one thing to be wary of when trading on the platform.
Plus500 is an Israeli UK-based trading platform that uses proprietary technology to deliver CFD trading and other financial instruments internationally. It was founded in 2008 and publicly traded on the London stock exchange. It was also the first online platform to introduce Bitcoin CFDs to trading and offers other features, such as negative balance protection, stop-loss orders, and a user-friendly UI. Fees on the platform are manageable and not as high as some other platforms in Costa Rica.
Another trading platform that’s popular in the UK and present in Costa Rica is Capital.com. It’s an efficiency-driven platform offering commission-free trading and only charges a small spread on each trade. It’s a safe and secure platform with licenses from different high-caliber authorities such as Australia, UK’s Financial Conduct Authority, and the securities exchange in Cyprus.
Benefits of Trading in Costa Rica
While the country is not an offshore jurisdiction, you can still use a company registered in CostaRica as an offshore vehicle. It’s also a business-friendly place with a stable political and economic environment. Furthermore, you only pay taxes on your Costa Rican income, which excludes your international sources. These can include your trading activity on instruments like CFDs, stocks, and cryptocurrencies.
Low Incorporation Fees
Setting up a private or limited liability trading company in Costa Rica is relatively simple and cheap compared to the UK. It costs $1,480 to fully register a company and $900 to renew your license. The process is also relatively painless, and you should have no issues.
Most government services are available online, and it only takes a few clicks to get assistance. Furthermore, you can forward your mail from Europe to the country to ensure you don’t miss any essential correspondence. In addition, most trading platforms in the UK are available in the South American country, and you will have no issue accessing them online.