Investing when on F1 OPT/H1-B

CoinTracker
dhawaljoh

CoinTracker

dhawaljoh
May 25, 2020 12 Comments

Is it legal to use robo advisors services like Wealthfront, Fidelity Go when on OPT? I have a Robinhood account but I've only bought shares till now, never sold. Since the robo advisor will be selling, is it legal? #investments #personalfinance

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TOP 12 Comments
  • Volant
    CitadelNow

    Go to company page Volant

    CitadelNow
    Youโ€™re fine! Managed accounts of any type are fine. As long as youโ€™re not clicking on multiple trades a day yourself.
    May 25, 2020 4
    • Volant
      CitadelNow

      Go to company page Volant

      CitadelNow
      Just because youโ€™re doing it doesnโ€™t make it legal.

      I ask because youโ€™re not going to get caught by USCIS because they donโ€™t talk to the IRS for everyday things, but if there was something triggered down the line, or some immigration step that required a tax return, there may be some questions for you. The guideline is a little murky, but if you have daily activity, itโ€™s a red flag. The more you trade the worse it looks.

      Source : Iโ€™m a general counsel.
      May 25, 2020
    • of course I pay taxes on the earnings. Point me to the law not yourself as the source.
      May 25, 2020
  • WeWork
    Zzz ๐Ÿ˜ด zzz

    Go to company page WeWork

    Zzz ๐Ÿ˜ด zzz
    Absolutely legal. It's just investment, not a full time job.
    May 25, 2020 1
    • CoinTracker
      dhawaljoh

      CoinTracker

      dhawaljoh
      OP
      Yeah, I figured as much *but* since the robo-advisor might sell multiple times in the case of a market event, could it be considered day-trading? Pretty rare, but it's a possibility?

      Thanks for the confirmation :)
      May 25, 2020
  • Okta
    doll$h

    Go to company page Okta

    doll$h
    Just be warned, you might get into scrutiny if you trade pot stocks
    May 25, 2020 0
  • Dude you can even do day trade
    May 25, 2020 2
  • Yes it is, and let me know if you need referal for Wealthfront
    May 25, 2020 0