Canadian day trading stocks
What must I do to begin trading? How are my funds held, and how will they be used to pay for my settlement and margin obligations for my stock, equity options and futures trades?
Are the commissions quoted in US dollars or in Canadian dollars? Is canadian day trading stocks an exchange rate difference?
In connection with governmental and regulatory anti-money laundering requirements, Interactive Brokers Canada is able to satisfy verification requirements for its customers if the One Canadian Dollar Cheque clears through the Canadian banking system. The cheque will not be credited to your account and it is non-refundable.
If you do not file a Form W-8, we will be required to close your account. You must use the Deposit Notification Form so that Interactive Brokers Canada has advance notice that you are depositing funds, and to assist us in making sure that your funds are credited to your account. If you do not use the Deposit Notification Form, you canadian day trading stocks experience a delay in having the funds credited, and this may affect your ability to trade or it may result in a liquidation of positions in your account if your account has not been credited.
TOP Can we trade the Canadian stock exchanges? In this regard, if you effect 3 stock or equity option canadian day trading stocks trades" on a US securities exchange within a 5 day period, IB Canada will designate you as a "pattern day trader". Yes, if your account is approved to do so. TOP How are my funds held, and how will they be used to pay for my settlement canadian day trading stocks margin obligations for my stock, equity options and futures trades?
Your funds will be held by Interactive Brokers Canada in a bank account. Each night, after the close of trading that day, Interactive Brokers Canada will remove funds from this bank account to pay for your trade settlement and margin obligations that arise from that day's transactions, including changes in the market value of positions held in your account. In turn, your Daily Account Statement will reflect debits made to your account for your settlement and margin obligations.
Of course, your Daily Account Statement will also reflect other debit items such as margin interest, commissions, and withdrawals; and, credits to your account, for example, for deposits, proceeds from sale transactions, interest, dividends, etc.
TOP How long will it take for account approval? Commission are quoted in the currency of the exchange on which the trade took place. Exchange rates canadian day trading stocks subject to fluctuation. Please contact Interactive Brokers Canada by e-mail, or by telephone to the telephone number indicated on the Interactive Brokers Canada website. No, and we canadian day trading stocks not expect to offer these accounts in the near future.
TOP What jurisdiction's tax laws am I subject to? You must consult with your canadian day trading stocks tax advisor regarding the tax implications of your Interactive Brokers Canada account.
Neither Interactive Brokers Canada nor its personnel are authorized to provide you with tax, investment or other advice. Can we trade the Canadian stock exchanges? How does the SEC day trading rule affect Canadians? How long will it take for account approval? Which office do I contact if I have a trade problem? Do you offer RRSP accounts? What jurisdiction's tax laws am I subject to?
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