Can we use CS or Robinhood for trading if we move from US to Canada?

Amazon
Stonks πŸ“‰

Go to company page Amazon

Stonks πŸ“‰
Apr 5, 2020 20 Comments

For those who moved from US to Canada, can we trade stocks and options using CS or Fidelity or Robinhood (RH being the last option) or is there another platform?

What are the difficulties in keeping existing positions?

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TOP 20 Comments
  • Walmart
    AFamilyMan

    Go to company page Walmart

    BIO
    Been there, done that. Grey hairs.
    AFamilyMan
    Short answer in blind setting is no, it will not impact.

    Always go by below thumb rules:
    Money β€” IRS cares
    Immigration β€” USCIS
    Roughly unless and until you caught up in red flag stuff, one doesn’t interfere in other.
    But If you go to Canada n keep your RH rolling, by end of financial year you will get 1099-D and other stuffs like routine and primarily there you will end up in paying your respect to IRS. ( what if not? Well, try it!)
    Apr 5, 2020 2
    • Amazon
      Stonks πŸ“‰

      Go to company page Amazon

      Stonks πŸ“‰
      OP
      How about using other trading platforms like CS? You mean we end up paying taxes in Canada right? Or do we have to pay in US too?
      Apr 6, 2020
    • Walmart
      AFamilyMan

      Go to company page Walmart

      BIO
      Been there, done that. Grey hairs.
      AFamilyMan
      You have to pay based on those 1099-D and other forms. I do not know about CS but fidelity and I guess every big platform generates those forms just like your company’s RSU/vested are maintained by operating platform.
      You can say what if you ignore it and do nothing, for that you will have to pray that you don’t end up in IRS audit.
      Apr 6, 2020
  • Okta
    doll$h

    Go to company page Okta

    doll$h
    I don’t think so. Robinhood will eventually lockdown your account if they see multiple logins outside over an extended period of time.
    Apr 5, 2020 2
  • Amazon / Other
    amalee

    Go to company page Amazon Other

    PRE
    DC Government
    BIO
    🐦
    amalee
    If you are in Canada. Can you let me know how much Amazon pays in Canada?

    Might have to move
    Apr 5, 2020 4
  • Cisco
    kailasa!

    Go to company page Cisco

    kailasa!
    CS account needs to be changed to a "international account" for taxation purposes. 30% flat tax deduction at source on foreign investment incomes (dividend for eg). That is all you need to do. Just call them up. It's a easy process. Fidelity will likely have the same process but I'm not sure. Robinhood does not allow operation from outside US.
    Apr 6, 2020 3
  • SAP
    ksYR03

    Go to company page SAP

    ksYR03
    I believe bigger brokerage should be fine. Like CS or Interactive Broker. Not sure if Fidelity has that too
    Apr 5, 2020 3