Can anon-uscitizen trade usstocks

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Can anon-uscitizen trade usstocksCan a Non-U. S. Citizen Trade U. S. Stocks?

Citizenship is not a prerequisite for stock trading.

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Citizenship is not required to trade stocks, as there are no laws against non-citizens trading U. S. securities. However, stock brokers and online trading sites can put conditions on your access to the market and will require some basic information -- as well as money -- to open an account.

Brokerage Accounts

To trade stocks, you need to open an account with a broker. Most big brokerages now allow you to trade online, but require an application before they will set up the account. A brokerage may also restrict access: E*Trade, for example, does not allow non-U. S. citizens to open accounts online, but will allow a non-citizen to apply through the mail. A broker will also ask for a Social Security number, a taxpayer identification number, or a W-8BEN if your residence is outside of the U. S.

Social Security Number

Your Social Security number is a basic identifier for the Internal Revenue Service. The IRS requires individuals filing a tax return to have a Social Security number. The agency also requires stock brokerages to get the number from their account-holders. The brokerage needs the number to file required reports on your account activity to the IRS. You don't need to be a citizen to get a Social Security number, but you must be a legal resident. If you need to file with the IRS and don't qualify for a Social Security number, then you should apply to the IRS for a Taxpayer Identification Number and use that for reporting purposes.

Non-Resident and Resident Tax Rules