I agree. At the end, it's mostly a tax question. @Jason11111111 I believe you got all the information you need. If you want more details, there's also a paper published by the CME (may be biased but still interesting): https://www.cmegroup.com/files/download/cme-group-futures-and-etf-paper-white-paper.pdf Check especially "Scenario 4: International Investor"