Can't open trading account for single member LLC (foreign)

Discussion in 'Retail Brokers' started by otctrade, Oct 5, 2019.

  1. otctrade

    otctrade

    No never asked for an SS but i will look into this ITIN and call them back for clarification. They just told me the member has to be a resident of the United States.
     
    #21     Oct 5, 2019
  2. otctrade

    otctrade

    #22     Oct 5, 2019
  3. otctrade

    otctrade

    I would but not many players in that otc market segment. IB has a per share commission which is brutal for pennystocks. I'll try a few more in the EURO zone if it doesn't work out.
     
    #23     Oct 5, 2019
    d08 likes this.
  4. gkishot

    gkishot

    BTW, when I was trying to open LLC account, I was told by tdameritrade website that this account can't be opened online and they will email me forms. I didn't go all the way. But did you get the forms? What forms' question exactly gave you a pause in opening account?
    https://start.tdameritrade.com/select?entity=103
     
    #24     Oct 6, 2019
  5. LLC is a pass-through entity so if the broker requires US citizenship, it is the LLC GP that will be considered
     
    #25     Oct 6, 2019
  6. Hittfeld

    Hittfeld

    IB will open an account for non resident aliens only via their UK subsidiary IBUK
     
    #26     Oct 6, 2019
  7. otctrade

    otctrade

    Yes I mailed in the forms. Few weeks later they mailed their reply saying they can't open an account at this time. I phoned them and the rep told me the reason.
     
    #27     Oct 6, 2019
  8. gkishot

    gkishot

    Was there anything in the form that indicated that you are non US resident?
     
    #28     Oct 6, 2019
  9. otctrade

    otctrade

    Yes, you have to specify the address of each member/shareholder
     
    #29     Oct 6, 2019
  10. gkishot

    gkishot

    Why didn't you specify American address of your LLC? After all you do expect all correspondence to go there. LLC is your proxy in US.
     
    #30     Oct 6, 2019