Open Bank Account in Canada or USA to Trade Forex and Future

[Zzzz1]

Not difficult in the US to open a bank account with a visitor visa? Name me ONE single bank in the US that allows that. I am very curious.

A moment ago you knew nothing about this topic and all of a sudden you are an expert on not just Canadian but all of a sudden also about US banking regulations? This website is a total joke at times.

Thanks for wasting my time, I just tried to help (even I am often times abrasive)

P.S.: You still look to engage in multiple grey zone if not illegal practices and think nothing is wrong with that. Go ahead, there are multiple individuals on this website for whom ethical and moral values mean nothing. They can better advise you.

Thanks LuisKH, I know it is not difficult to open bank account in USA and Canada for visitor visa. I also know it is not easy to make money in Forex market. I spend in credit card CAD currency and withdrawn CAD currency I dont think it will charge 3% but if I use local credit card I incur a conversion exchange rate cost around 3%, so that is the reason I want to open CAD bank account & credit/ debit card.

ZZZZ1, may be my English not quite clear and you do not understand my point. I dont want use IB just convert my local currency to CAD. my wife student in Canada can open bank account, deposit money and based on deposit money to get credit card.
My country allow to transfer the money to my wife based on her tuition fee and living cost in Canada, she can transfer money to my bank account or I can send money to my foreign bank account in different way eg: someone in Canada want to send money to my home country I will do the deal with them and receive money in Canada and pay them in home country and deposit this money to my bank account.

I dont want to open IB account for my wife since Alberta may not allow Albertan or someone temporary resident to trade forex but I can trade forex since I still register my address in my home country and just vistor in Canada.

 

[Sonata95]

@Zzzz1 Ok 1st off, full stop right here. You don't live in Canada and are talking right bullshit. Step down mate.

@Sonata95 Yes all you have said above will work. The caveat is that it probably won't work for you. If a US citizen was to open up an account at a large bank in Canada, it would fly. You being from Vietnam works against you. That said, you can try. Just about every single bank here in Canada if you can open an account will issue a secured credit card.

I'd try TD 1st, they are the most liberal to foreign customers.

Keep in mind Oanda Canada has really bad margin requirements.

Thanks jj90, I know US and Alberta is worst place to trade forex due to margin issue. Therefore, I want to keep my home address to register account with a broker and connect to Canada bank account for cost effectiveness

 

[Sonata95]

Not difficult in the US to open a bank account with a visitor visa? Name me ONE single bank in the US that allows that. I am very curious.

A moment ago you knew nothing about this topic and all of a sudden you are an expert on not just Canadian but all of a sudden also about US banking regulations? This website is a total joke at times.

I have a relative family in USA working in Chase bank, he already opened my USA bank account 3 year ago ( I only proof an address in USA eg: a copy of house rental contract) when I visited USA. I granted full power of authorization to a PR holder but I did not use and it was closed after a year. I dont know any change now or what is difficult to open USA bank account now

 

[Zzzz1]

How could you rent a home and have your name on the contract as someone with a visitor visa? Either you cheated and lied or the real-estate agent/landlord acted illegally. Simple as that. However you twist it, it is not legal nor ethical to do so. If you choose to act illegally and in violation of regulations and laws, go ahead. Your choice. But don't beg and whine later when you end up on black lists.

I have a relative family in USA working in Chase bank, he already opened my USA bank account 3 year ago ( I only proof an address in USA eg: a copy of house rental contract) when I visited USA. I granted full power of authorization to a PR holder but I did not use and it was closed after a year. I dont know any change now or what is difficult to open USA bank account now

 

[Sonata95]

How could you rent a home and have your name on the contract as someone with a visitor visa? Either you cheated and lied or the real-estate agent/landlord acted illegally. Simple as that. However you twist it, it is not legal nor ethical to do so. If you choose to act illegally and in violation of regulations and laws, go ahead. Your choice. But don't beg and whine later when you end up on black lists.

What is difficult if I rent a room with my relative family.

You said about the moral and ethical, eg: Apple, google open company in heaven tax country and transfer the profit to the country, is it ethical or moral? is it legal? eg: united airline removed a customer out of the airline in newspaper recently, is it ethical, moral, legal?

Everyone want to compliance with rule or regulation but not ethical or moral because this one depend on their conscience.

 

[jj90]

Mate, " If a US citizen was to open up an account at a large bank in Canada, it would fly. You being from Vietnam works against you."

That is BS on so many levels, what else can I say?

Are you aware of how strict current international anti-money laundering regulations are? That applies equally to Canadian banks. Try to open a bank account in Canada without any local/Canadian address. I am pretty sure it won't be possible because one would already fail the KYC interview (to which Canadian banks also subscribe). [Perhaps US citizens are exempted here but certainly won't a Frenchman or German walk into a Canadian bank and be able to open a bank account without any residential address].

Secondly, the "secured credit card" is EXACTLY what I mentioned. Just because I am not Canadian (though lived in Vancouver for several years) I am not qualified to talk about Canadian banking? What a joke.

LOLOLOLOL @Zzzz1 1st you claim to be from Germany, then you now live in HK, and you lived in Vancouver for a few years. You really expect us to believe that? What were you a Managing Director of HSBC? What's your reason for being in Vancouver? Such horseshit from you. I need to get fiction material from ET.

As someone with a banking background you should know that all bank staff profile on the spot with regards to KYC. They see a Western passport, it's a green light over an African passport. Keep spinning your hamster wheel.

I have multiple bank staff in person in Vancouver clarifying these conditions and risk profiling to me. What's your source? Google? Your asshole?

[Perhaps US citizens are exempted here but certainly won't a Frenchman or German walk into a Canadian bank and be able to open a bank account without any residential address].

I have you on quote where you contradict yourself and prove my point: KYC profiling on the spot due to nationality. You are busted you sack of shit.

You claim to know not a "secured credit card" and have a finance/capital markets background? LOLOLOLOLOLOLOL. I'm gonna cheat on next year's taxes just for you.

 

[Zzzz1]

Yeah, lol, well, handing in a fake rental agreement made up by a relative of yours to a bank to apply for a bank account is not just unethical but illegal. You were on a tourist visa and guess why it's called NON residence visa.
And guess why regulations are made stricter and more burdensome to everyone: because of individuals like you who think they stand above the law and don't give a shite.

What is difficult if I rent a room with my relative family.

You said about the moral and ethical, eg: Apple, google open company in heaven tax country and transfer the profit to the country, is it ethical or moral? is it legal? eg: united airline removed a customer out of the airline in newspaper recently, is it ethical, moral, legal?

Everyone want to compliance with rule or regulation but not ethical or moral because this one depend on their conscience.

 

[Zzzz1]

I lived in Vancouver for my first job out of college. Why? And Germans are not allowed to live abroad? Not in HK? What's really your issue? That a non Canadian citizen dared to make statements about your country?

LOLOLOLOL @Zzzz1 1st you claim to be from Germany, then you now live in HK, and you lived in Vancouver for a few years. You really expect us to believe that? What were you a Managing Director of HSBC? What's your reason for being in Vancouver? Such horseshit from you. I need to get fiction material from ET.

As someone with a banking background you should know that all bank staff profile on the spot with regards to KYC. They see a Western passport, it's a green light over an African passport. Keep spinning your hamster wheel.

I have multiple bank staff in person in Vancouver clarifying these conditions and risk profiling to me. What's your source? Google? Your asshole?


I have you on quote where you contradict yourself and prove my point: KYC profiling on the spot due to nationality. You are busted you sack of shit.

You claim to know not a "secured credit card" and have a finance/capital markets background? LOLOLOLOLOLOLOL. I'm gonna cheat on next year's taxes just for you.

 

[Sonata95]

@Zzzz1, Why unethical and illegal, I rented and payed a room and I used rental agreement to open bank account? what is wrong with this? You do not understand everything but you think that you are a good person. You should keep silent and learning, I dont want to reply any post with you. Thanks for wasting my time

 

[Zzzz1]

...because you stated you were on a visitor visa, also called NON-resident visa. Taking up residency is violating immigration laws. It is your choice what you do but it does not change the fact that you acted illegally and unethically. Simple as that.

@Zzzz1, Why unethical and illegal, I rented and payed a room and I used rental agreement to open bank account? what is wrong with this? You do not understand everything but you think that you are a good person. You should keep silent and learning, I dont want to reply any post with you. Thanks for wasting my time