ORIGINAL REDDIT POST
Investing with CAD from overseas
I'm a Canadian citizen and former resident of Canada living in Germany. I have a chequing account in Canada and recently recieved about 50k in CAD that I would like to invest, but I don't want to move the money to Germany because of the abysmal exchange rate…
I'm a Canadian citizen and former resident of Canada living in Germany. I have a chequing account in Canada and recently recieved about 50k in CAD that I would like to invest, but I don't want to move the money to Germany because of the abysmal exchange rate and fees. Problem is, from what I can tell, Canadian banks don't allow non-residents to open brokerage accounts. Does anyone know of a way I can invest the money without moving it to Germany? Thanks!
Collected discussion
Open in interactive broker, they allow. Double check though. Or get an advisor.
Interesting, and you made the account after becoming a non-resident?
An interactive broker seems like the way to go, thanks.
Yep. There was no issue.
Hey! Fellow Canadian in Germany. I use Wealthsimple. Creating an account is no problem and it's super easy to manage.
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