I don't need one, since I am technically considered "retired" and I am just managing my own personal investments. I just count the number of days I spend in the USA and make sure I don't exceed the minit.
This is not quite accurate. You can stay in the USA for a certain number of days as a "tourist" without having to file with the IRS. The limit I think is 182 days in any one year, and 120 days average per year on some mathemetical 3 year rolling calculation. That is why I live in bahamas too, because I can't stay in the USA full time, otherwise I would have to pay taxes to the IRS. Bahamas has no such tax rules, that's why it's one of the best places on this planet for a CANADIAN trader.
The simple way around this is to incorporate a US company and trade through that. Then You are only paying one set of taxes (US). There are many good corporate tax lawyers that will help you with this it's not really a big deal if you set it up properly. To this day even though I'm back in Canada now I still trade through my US company because of the huge tax advantages. No doubt Bahamas' would be allot better for sure though and to be honest if I where to move south again that would be my choice.
1st post...to cdn traders out there. What broker do you recommend using? Currently, Im with tdwaterhouse, but want to go with a direct access broker that provides me with before/after hours trading accessibility, cheaper commissions, etc. And, what software have you had good results with? There's such a morass of info out there it's hard to make sense of it all. Thanks, in advance, for your feedback.
My last 3 brokers were JPR Capital, E-local and currently I'm with Fasttrade. I recommend all of them, they were all very helpful, reliable and economical as far as I was concerened. And they take Canadian accounts no problem. I used JPR when I was trading index tracking stocks (QQQ). I used E-local to trade e-mini's because JPR wasn't handling futures at that time. As the amount of trading I did grew larger, Ffasttrade became more economical to use than E-local. It depends on how much you trade, the more you trade, the more likely you will get lower total pricing via Ffasttrade. But both were very good companies. If I was to choose the best of the 3, I would say Ffasttrade, but all were very good.
TDWater is a rip off. It really depends on what you trade. Listen to Canadian_dude and also look at IB they have a canadian office as well.
Just thought I'd bring this thread back to life to see if there are any traders new to ET in S. Ontario. Cheers