Korean Job Discussion Forums

[matesol]

Does anyone know how Canadians in Korea can e-trade on the internet? E-trade has a "korean" site but I refuse to do business with banks that treat foreigners like criminals every time the want to exchange money. (Only 70% now, and only if you have your contract, pay receipt and we put ALL the information in the computer, etc.) I was here during the "IMF crisis" and still remember them telling me that even foreingers were not permitted to exchange money unless they were leaving the country. Add in the North Korean threat, and I prefer to have my money SAFE and out of Korea. I looked at several similar websites and all the ones I saw would only let you open an account if you were a US citizen or permanent resident. Where can I find a website that will allow me to trade online? I want to invest 50% of my gold bullion into gold stocks. All of these gold stocks have gone up in the last 6 months:


http://www.thebullandbear.com/resource/investor/EL-archive/0203-aden.html

Any advice or on the forum is grealy appreciated!


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[casinoman]

Try the bank you deal with in Canada. I have a TD Canada Trust account and recently opened up a TD Waterhouse account specifically for this purpose.

[matesol]

I've been in Korea five years. So, I don't have any bank accounts in Canada. All my savings are in gold bullion. When you opened the account in Canada, can you use your address in Korea as your permanent address? There is that there "World Income" thing.

[gmat]

There is no debate. The best trading platform and cheapest commisions can be found by using Interactive Brokers. They are simply the best - providing you do not need any hand holding advice, because they do not provide advice, only executions.

Using your Korean address is fine.

http://www.interactivebrokers.com/index.html

I have no affiliation, just, as they say, "A satisfied customer".

Good luck!

[casinoman]

About the address mate, I believe you could use your korean address. In fact it could be better for you as it would prove to Revenue Canada (or the CCRA as it's now known) that you are no longer a "resident" for tax purposes. I have also been abroad 5+ years (not in Korea though) but use mom's address as it is PERMANENT and hasn't changed in awhile. About taxes, I think if you are a non-resident for tax purposes there is a 15% withholding tax for you, but then you don't get the 50% capital gains exemption available to Canadian residents. Any one who knows more please contribute as it has been a while since I took a tax class.