Can Canadians open accounts at US retail firms?

Quote from Cdntrader:

http://www.interactivebrokers.ca/en/main.php

IB has gone to great pains to be registered in Canada. So you might as well enjoy it. I know I do.
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Perhaps the good IB folks are in the phone book, no?
I could drive to the General Store and give them a ring.

It would be awesome if an IB Account Executive...
Came to my trailer and serviced my needs...
There are rumors that IB has gone to great pains...
To set a new standard in Customer Service.
 
Many futures brokers allow accounts for Canadians. Of the research that I have done AMP and Mirus are worth pursuing for a combination of commission pricing and margins. I am personally in the process of wiring CDN funds to Mirus through RCG.
 
So from what I understand I could open an equities account if I incorporate in the U.S.? Is this correct? Is there a State thats preferable to incorporate in? Does anyone who has done this have any tips or recommendations?

Thanks
 
Quote from bonds:

So from what I understand I could open an equities account if I incorporate in the U.S.? Is this correct? Is there a State thats preferable to incorporate in? Does anyone who has done this have any tips or recommendations?

Thanks
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I think delaware is the top pick if i'm not mistaken.Why would you want to do that though? If you are trying to get around paying taxes don't bother. revenue canada will know,trust me.If its just a retail account just open it in canada.
 
Hi, I am new to this forum. I am a Canadian living in British Columbia. Recently I tried to apply a futures account with Global Futures and was rejected. They simply said it was because I live in B.C. So I contacted Advantage Futures and they confirmed that because of the laws in B.C they couldn't take me as a client. However, they said Ontario residents (and may be other provinces as well i am not sure) are eligible. So it seems one's eligibility to open an account with a U.S broker depends on which province you live in. To add another twist to my situation, I contacted RCG Direct which is the FCM that Global Futures clears with. RCG confirmed that they don't have a problem taking me as a client even though I live in B.C. Confusing isn't it? I am currently in touch with RCG to see what their commission rate is etc. before deciding if I want to go with them.
My only other options are IB and optionsXpress. Because I have limited trading experience (less than 100 trades) I don't qualify to sign up with IB. OptionsXpress charges $6.99 per side so that's outrageously expensive.
 
Quote from steeldust:

I think delaware is the top pick if i'm not mistaken.Why would you want to do that though? If you are trying to get around paying taxes don't bother. revenue canada will know,trust me.If its just a retail account just open it in canada.
More...

I can get a much better commission rate than IB or questrade through an American brokerage.
 
I'm Canadian and I love Interactive Brokers for buying European or Asian equities but I want to do the same thing with my RRSPs. I can buy foreign equities in my RRSP with Questrade, but they charge 1%, far too much for large amounts. Does anyone know of a better deal than that to buy foreign stocks in your RRSP?
 
I am a Canadian, living in Canada.

I have a Tradestation Account, primarily to have access to the platform for strategy development and backtesting, but do my 90% of my futures trading through the Canadian division of IB.

I am not sure why you would want an account at a US retail firm when IB in Canada covers every conceivable market, with vey competitive commission and data fees.

The only issue with IB is that they do not support RRSP accounts, but then no US broker would either.

Good luck!
 
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