If you are US citizen but living with permanent residency in another country can you open your brokerage account based off of the country of your residency or is it citizenship based?
That is a jolly good question and I shall try to find out for you. Would like to know myself for the sake of interest.
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This from a UK FCA registered and regulated broker:
You need to have a passport for the country in which you reside. If you are just an American citizen living abroad on a visa but do not have a passport for the unrestricted country in which you reside then you are not eligible to open an account.
Canada and USA are restricted countries and therefore are banned from trading CFDs. The only way around this is to have residency and a non US passport elsewhere.
Correct. The US is a very exceptional example of tax regulations. As long as you are a US citizen you have to obey to US rules no matter where you live. In extreme examples it happens that someone works in a country which has no double taxation agreenment with US and that person has to pay the local income tax of the resident country and the income tax in US on top of that.
Not little people therefore turn down their US citizenship when they chose to spend their life in another country.