Day trading in Canada Message Board

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Gold/Mining/Energy : Day trading in Canada

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To: akpirate who wrote (1249)	11/17/1998 11:08:00 AM
From: BradC	Read Replies (3) of 4467

<Is it really "illegal" for a canadian broker to open an account for a US citizen? > Good question, I always thought US brokers cannot register to sell to Canadians and vise-versa but I don't know the legal text on this, just what I've heard. It would be interesting to call around and see if any Canadian brokers will deal with Americans. Robert were you able to find a Canadian broker? I know many of the Canadian Internet brokers will not accept Foreign Resident accounts, I know for sure Investorline, Royal Action Direct and E*trade will not accept FR accounts. TD Greenline and Hong Kong Bank will accept FR accts (but I'm not sure about US residents). A few US Internet brokers trading Canadian stocks are: TradeStar - www.savoystocks.com NDB National Discount Brokers - www.ndb.com Empire Financial - www.lowfees.com DLJ Direct - www.dljdirect.com Prodiscount/CompuTel - www.prodiscount.com TradeWell - www.trade-well.com Commissions tend to be high compared to US stocks and no one allows settlement in Canadian funds. They will nail you anywhere from 3-6% to convert currency on every trade. Brad

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