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Tranfer of US OTC stocks to Canadian brokerage.

danmand

Well-known member
Nov 28, 2003
46,353
4,776
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I own some shares in an american startup, that is trading on the OTC. I tried to transfer them into a TD Waterhouse account, but TD waterhouse would not accept the transfer. Does anyone know of a brokerage that will accept such a transfer.

TD Waterhouse says that I can buy OTC shares in my account, but that I cannot transfer shares in from the US.
 

Allwomen247

New member
Jan 26, 2017
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Why don’t you just have a TD Ameritrade account in the US? Then they can be freely traded.

Foreign citizens can have a non resident account and you just declare to the CRA come tax time.

Cheers
 

Allwomen247

New member
Jan 26, 2017
169
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danmand....

Pls let me know the outcome of your situation, I’m in a similar position.

Feel free to pm me if you prefer.

Cheers
 

Barca

Active member
Sep 8, 2008
2,062
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There are very few clearing houses in Canada and so very few options.

Most bank-owned brokerages self-clear. But banks are notoriously averse to risk. I doubt any of them would accept this security.

Other smaller brokerages usually clear through a clearing house like National Bank Custody or Fidelity Clearing. So unless one of those two institutions accept this transfer, it doesn't matter what brokerage you use, you will face the same issue anywhere.

A US based solution is your best bet.
 

Kukilopu

New member
Dec 17, 2018
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It became interesting to me, is it possible to somehow insure myself in this case? What if I am the owner of a large brokerage company and I want to constantly make such transfers. Are there always such problems? I would get free insurance quotes on Generalinsurance.com just to know that if something happens I will be insured.
 
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