Post by
indaknownewfie on Jan 28, 2017 4:06pm
How do I purchase US based OTC stocks
New to trading . How do I purchase US OTC stocks. I have a Canadian itrade account and are there any tax implications because i want in on this play
Comment by
Nelly15 on Jan 28, 2017 4:13pm
You have to phone in and talk to an itrade rep to place a trade. They only charge you the same amount for the trade as is would cost to do it online. Because it is an OTC pink stock unfortunately you have to call in. The taxes (capital gains) will be the same as any cash trading account. To bad we can not buy this stock through our TFSA...
Comment by
indaknownewfie on Jan 28, 2017 4:38pm
Thanks I really appreciate it. Do you have to file any paperwork with the IRS or anything crazy like that?
Comment by
Nelly15 on Jan 28, 2017 7:31pm
If you are a Canadian no you don't, but I can't answer that question for Americans..
Comment by
Nelly15 on Jan 28, 2017 7:33pm
Judging by your name you are most definitely a Canadian lol. As am I...