closed state

yukkles · Post by **yukkles** » Tue Sep 20, 2005 4:47 pm

Can anyone tell me what is meant by a 'closed state (fl)' and what it has to do with having a brokerage account in canada?

nelsona · Post by **nelsona** » Tue Sep 20, 2005 4:54 pm

A 'closed state' in your case is one in which your Cdn broker is not permitted to trade for residents of that state.

Currently ALL US states are closed for non-retirement brokerage accounts, but all but 2 or 3 are open for RRSP accounts.

But your broker can still refuse to deal with you, even if you are in an 'open' state.

<i>nelsona non grata... and non pro</i>