discount future and future option firms taking Canadian?

Discussion in 'Retail Brokers' started by Lawrence Chan, Jan 12, 2002.

  1. Am interested in opening up yet another brokerage account.

    From previous messages I know the US-Canada scenerio is not looking good.

    My quest is simple -

    Am looking for a decent discount brokerge with electronic order placement for future and future option orders who accept Canadians.

    I do not want to by-pass any regulations whatsoever.
    Thus I am look for legal solutions :)

    Anyone have any idea?

    Thanks in advance.

  2. All futures firms take Canadians except for IB (which is seeking approval because it also handles equites).
  3. The Cdn gov has more "rules" now since last year over futures account ...

    Wonder if that affects the smaller brokerages from US working with Cdn though.
  4. tntneo

    tntneo Moderator

    it is not a problem for a broker to have canadian customers. rules are clear about taxation and treaties between the 2 countries.
    it is only a difficulty (impossibility sometimes) if the US broker has any branch (or plan to) in Canada. then, this broker can't accept any canadian unless risking to loose any license in canada.

    I know several futs brokers taking canadian for sure. and as I say, anyway it is not a problem for them to do so unless they have plan to go to canada.

    and yes, this canadian lobby is very strong and nasty.

    you may also consider to by pass the whole problem by creating a statutary corporation in Delaware or Nevada. Then, the entity is american anyway so problem totally vanished. OK, the difficulty is to avoid too much tax (since profits are taxed twice : once at company level and once at individual level. but again, that's totally legal to have such an entity).


  5. New rules on futures? do tell...