I went to taishin securities today as I wanted to open a s&p fund I could contribute too, they sent me next door to yuanta bank who said they can’t help me as I am not living in their area due to money laundering rules, told me to go to my bank where they know me. I asked Mega where i have an account, they said foreigners can’t buy American stocks , she blamed it on Canada USA regulations. Told me to try a other bank.
Anyone been successful opening up a trade account or mutual fund? They see a foreigner and say no immediately. Mega said I could buy Indian funds, European, Taiwanese, anything but American.
We use our parents’ address in the States. Vanguard mutual funds have some of the lowest rates in the world. Can’t beat a target retirement age fund or two or three fund portfolio (bonds/domestic stocks/international). I’ve got to believe the expense rates are a lot a cheaper in Canada than here.