Help! TDAmeritrade Saying As Resident in Germany I Can Only Have a Cash Account!!!

Hi, I am wondering, if any of the non-US residents here have an account with TDAmeritrade and are on margin. Also they told me I can only have option tier 2 approval as foreign account holder, not tier 3.

Please, tell me it must be a misunderstanding. they are messing up my whole strategy concept, if that's true.

thanks for advice!

Best regards
PMG

 

It's true for foreign nationals with TDA. I don't know if it's regulatory or limited to TDA.

 

Why use them? The only US based broker that doesn't penalize "foreigners" is IB.
The issue you're describing is only related to TDA, so better just go with IB instead.

 

Well, I really wanted to use TOS and Dough, since the functionality fits very well my style of trading. It won't be as smooth with another platform. I guess there is no chance to get an exception from them. I guess I will have to go to IB as well. Thanks!

 

Getting a TOS account via Dough as their introducing broker should work.

Kind regards

 

No it doesnt work, since that's what I've done. If you apply via Dough it will simply be a TD account no different to the normal way of application. Only you can get different commission with the promo code from Dough.