I have been studying on a demo account for 6 months and am looking to move to a live account. I live in Alberta so there are additional regulations meaning you have to be an accredited investor in order to be eligible for a secured account. I have reached out to multiple brokers that operate in Canada but having an Alberta residence prohibits me from being accepted.
Has anyone found a broker that they have been able to use successfully? Offshore or otherwise? What has your process been like?
Looking for community members to network with! Any information would be helpful!
Have a great day!
some laws are just incomprehensible
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In Canada, an “Accredited Investor” is defined by the provincial securities commissions throughout the country. For Ontario residents for example, an “Accredited Investor” is defined in OSC Rule 45-501. This definition includes, but is not limited to: (a) certain institutional investors and (b) an individual who beneficially owns, or who together with a spouse beneficially own, financial assets having an aggregate realizable value that, before taxes but net of any related liabilities, exceeds $1,000,000; or © an individual whose net income before taxes exceeded $200,000 in each of the two most recent years or whose net income before taxes combined with that of a spouse exceeded $300,000 in each of those years and who, in either case, has a reasonable expectation of exceeding the same net income level in the current year.
Darwinex dot com for Albertans! They took my RBC Mastercard! Love them. See my post about it.