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

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

  1. Sig

    Sig

    Then you clearly can't read either, since I provided a very detailed explanation as to why you can't get around trader nationality rules by creating an entity, including my personal experience with a C Corp account at a US broker which was your exact question! And very explicitly stated that regardless of your intentions brokers couldn't do what you want because it would expose them to abuse. Reread what I wrote, maybe in an hour when you've settle down and you can actually read the entire thing without flying off the handle.
     
    #41     Nov 30, 2019
  2. You make more money working out of a thai massage parlor than trading 5 shares a day.
     
    #42     Dec 1, 2019
  3. otctrade

    otctrade

    Thanks duly noted
     
    #43     Dec 1, 2019
  4. levartm

    levartm

    Any luck with opening an account? I am thinking about trying this as well.
     
    #44     Dec 4, 2020
  5. otctrade

    otctrade

    No I ended up just going with a personal account (not with the brokers i mentioned in my original post). You have to either get a US resident partner in the LLC or do a C Corp but then you have a second set of taxes to file and pay. I liked the LLC idea because it's a flow-through entity so you only pay taxes in your home country.
     
    #45     Dec 4, 2020
  6. Ib is VERY bad for penny stocks (otc markets)

    They do not allow you to trade 90% of the shares

    They impose restrictive price caps for buy or sell stocks
     
    #46     Dec 5, 2020
  7. Has anyone tried Fidelity for opening up a LLC account owned by a non-US person?
     
    #47     Apr 26, 2021
  8. otctrade

    otctrade

    Yes it doesn't work as long as it's a foreign owned LLC. I think if you partner up with an American resident (multi member llc) then it might work.
     
    #48     Apr 27, 2021
  9. iceberg

    iceberg

    Did you end up trying IB? I'm interested in this as well.
     
    #49     Aug 21, 2021