abaddon

Hello All,

I currently have a dealing account with TD Waterhouse in the UK. We are moving to Canada on June 8th. TD Waterhouse say I have to close my account with them as they are not allowed to hold accounts in the UK for Canadian (and US) residents.

They also say they will transfer the account for free to another broker. I asked Barclays Stockbrokers and they said the same thing!

Does anybody know of a UK broker I can use who doesn't mind me being a Canadian resident?

Thanks,
Imy

abaddon

If anybody else faces this situation I have found a broker. Selftrade say that as long as I have a uk correspondence address, they are fine for me to open an account with them.

el_richo

Can you not find a Canadian brokerage that offers international trading and will allow transfer of your stocks to their house?


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rivingtonpike

We are hoping to move out to BC imminently. We have a modest share porfolio with "The Share Centre". When we have permanent residency in Canada, does this mean we will have to relinquish our shares? Or am I missing the point entirely?

cheepnis

hargreaves lansdowne should be ok with the situation.

Mike Gas

I use Interactive Brokers highly recommended cheep est fees and you wont find better Forex rates you can trade stocks and shares from any country.
http://www.interactivebrokers.ca/en/main.php

abaddon

The free transfer that TD Waterhouse are offering is the main reason I want to find a UK broker who do not have a problem with Canadian residency. It's a bad time to sell up and cash-out. Plus the exchange rate means I do not want to transfer the cash at the moment. I would rather transfer for free and leave it all as shares for a while.

I checked one Canadian broker that would let me hold sterling and allow me to trade on the LSE - charges/commission are considerably higher.

Imy

abaddon

I'll look into this. The commission seems really cheap. Would they allow me to hold sterling?

Imy

Mike Gas

yes they do and you can not beet there fx rates much better than HIFX i use them for all mine