I have read on this forum that you can maintain but not trade in a US brokerage account while a Canadian resident. Likewise, you cannot trade in a Canadian brokerage account while a resident in the US.
Can an individual trade in a Canadian and/or a US brokerage account if they live in another country (e.g. Asia)? The situation is as follows... a dual citizen (US/Canada) used to live in Canada (and continues to maintain a Cdn brokerage account but does not trade). They currently live in the US (and maintain & actively trade in a US brokerage account). What happens when they move overseas? Is he/she banned from trading in both accounts? What are they supposed to do to manage their portfolio while overseas?
Thank you.
US and Candian Brokerage Accounts
Moderator: Mark T Serbinski CA CPA
Remember that the 'ban' is imposed by thr regulators of the state/province of residence of the client.
The reason that US residents cannot trade in their Cdn account is because of the SEC and their state regulators.
The reason Cdn residents can't trade in a US brokerage is because of Cdn regulators.
If one lives in a third country, then it would be that country's regulators (if any) that would determine the 'legality' of such trades. If there were no legal impediments to uch trades, then the firm itself would have to decide whether t oallow trades based on its own policies.
I believe there are lots of Cdn brokers (and US) with 'off-shore' clients; just not in Canada or US.
The reason that US residents cannot trade in their Cdn account is because of the SEC and their state regulators.
The reason Cdn residents can't trade in a US brokerage is because of Cdn regulators.
If one lives in a third country, then it would be that country's regulators (if any) that would determine the 'legality' of such trades. If there were no legal impediments to uch trades, then the firm itself would have to decide whether t oallow trades based on its own policies.
I believe there are lots of Cdn brokers (and US) with 'off-shore' clients; just not in Canada or US.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing 
[quote]The reason Cdn residents can't trade in a US brokerage is because of [u]Cdn regulators.[/u][/quote]
Is this statement still true if the Canadian resident is also a U.S. citizen (i.e. dual citizen living in Canada)? I heard that US citizens (and GC holders) were allowed to keep (and actively) trade in their US accounts while in Canada.
This makes me wonder what happens in the case of U.S. expats that move to Canada (either temporarily or long-term)? Surely an executive that moves to Canada for a few years doesn't have to liquidate his U.S. brokerage account and/or transfer all assets to a Canadian broker? This could be a significant barrier to cross-border transfers.
Is this statement still true if the Canadian resident is also a U.S. citizen (i.e. dual citizen living in Canada)? I heard that US citizens (and GC holders) were allowed to keep (and actively) trade in their US accounts while in Canada.
This makes me wonder what happens in the case of U.S. expats that move to Canada (either temporarily or long-term)? Surely an executive that moves to Canada for a few years doesn't have to liquidate his U.S. brokerage account and/or transfer all assets to a Canadian broker? This could be a significant barrier to cross-border transfers.
They can trade in their RETIREMENT accounts only.
Again, a US brokerage may or may not have a problem with you having a Cdn address on file (some do). But unless they are licensed in the province you live, they cannot trade for you.
Again, a US brokerage may or may not have a problem with you having a Cdn address on file (some do). But unless they are licensed in the province you live, they cannot trade for you.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing