2026-02-21

How to Open a Brokerage Account as a Non-Resident

Opening a brokerage account when you do not live in the country where the brokerage is based is one of the most frustrating parts of being an international investor. Forms get rejected, compliance teams ask for documents you have never heard of, and the whole process can take weeks. This guide covers which brokerages actually accept non-residents, what documentation you need, common reasons applications are denied, and how to maintain your accounts when you relocate.

Why Brokerages Care About Residency

Brokerage firms are regulated by the financial authority of the country in which they are licensed. In the United States, that means the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In the United Kingdom, the Financial Conduct Authority (FCA). In Singapore, the Monetary Authority of Singapore (MAS).

These regulators impose Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements that force brokerages to verify where you live, where your money comes from, and whether you are a tax resident of a jurisdiction they are permitted to serve. The result is that many brokerages simply refuse to open accounts for non-residents because the compliance burden is not worth it for them.

This does not mean you are locked out. Several major brokerages have built their business model around serving international clients. You just need to know which ones.

Brokerages That Accept Non-Residents

Interactive Brokers

Interactive Brokers (IBKR) is the gold standard for international investors. They accept clients from over 200 countries and territories, operate regulated entities in the US, UK, Ireland, Luxembourg, Hungary, Singapore, Hong Kong, Japan, India, Canada, and Australia, and provide access to 150+ markets worldwide.

What you need to open an account:

IBKR routes your account to the appropriate legal entity based on your residency. If you live in the EU, your account will be held with Interactive Brokers Ireland or Luxembourg. If you live in Asia, it may be with IBKR Singapore or Hong Kong.

Strengths for nomads: Multi-currency accounts, competitive FX conversion rates (typically 0.002% with a $2 minimum), access to stocks, bonds, ETFs, options, futures, and forex across global exchanges.

Watch out for: The platform is not beginner-friendly. The account opening process asks detailed questions about your trading experience and financial situation. Inactivity fees were eliminated in 2021, but the interface can be overwhelming.

Saxo Bank

Saxo Bank is a Danish investment bank that serves clients in most countries outside the US. They are regulated by the Danish Financial Supervisory Authority (FSA) and hold additional licenses in the UK, Singapore, Australia, Hong Kong, and other jurisdictions.

What you need to open an account:

Strengths for nomads: Clean interface compared to IBKR, strong coverage of European and Asian markets, multi-currency accounts with competitive FX rates. Saxo provides access to 70,000+ instruments across 50+ exchanges.

Watch out for: Higher commission rates than IBKR on most products. Saxo does not accept US persons (US citizens or US tax residents) due to FATCA compliance requirements. If you are American, Saxo is not an option.

Charles Schwab International

Schwab International serves US citizens and residents living abroad, as well as non-US persons in select countries. Schwab’s international accounts are held with Charles Schwab & Co., Inc. in the US and regulated by the SEC and FINRA.

What you need to open an account:

Strengths for nomads who are US citizens: Commission-free US stock and ETF trading, no account minimums, strong customer service for expats. If you are an American abroad, Schwab International is one of the few brokerages that will reliably keep your account open.

Watch out for: Limited to US-listed securities. You cannot buy stocks on the London Stock Exchange or Tokyo Stock Exchange through Schwab International. Non-US persons are accepted from a limited list of countries only.

Other Options

KYC Documentation: What You Actually Need

Every brokerage will require some combination of the following. Having these ready before you start the application will save you days of back-and-forth.

1. Identity Verification

A valid, non-expired passport is universally accepted. National ID cards work for some brokerages (especially EU-based ones under eIDAS), but a passport is always safer. The document must match the name on your application exactly.

2. Proof of Address

This is where most non-residents run into trouble. Acceptable documents typically include:

If you are a digital nomad without a fixed address, this can be a problem. Strategies that work:

3. Tax Identification Number

Under the OECD’s Common Reporting Standard (CRS), brokerages are required to collect your Tax Identification Number (TIN) and report your account to the tax authority of your country of tax residency. This is not optional.

If you are a tax resident of a country that issues TINs (which is most countries), you need to provide it. If you are between residencies, use the TIN from your most recent country of tax residency.

For US citizens, this is your Social Security Number, regardless of where you live.

4. Source of Funds

Brokerages are required to understand where your money comes from. You will typically need to declare whether your funds come from employment income, business income, savings, investments, inheritance, or other sources. Some brokerages (especially for larger accounts) will ask for supporting documentation such as pay stubs, tax returns, or business financial statements.

Common Rejection Reasons and How to Avoid Them

Country Restrictions

Every brokerage maintains a list of countries they will not accept clients from, usually due to sanctions (OFAC in the US, EU sanctions lists) or because they do not hold a license in that jurisdiction. Before starting an application, check the brokerage’s “supported countries” page.

US persons face particular restrictions due to FATCA (Foreign Account Tax Compliance Act). Many non-US brokerages will not accept US citizens or green card holders because the FATCA reporting requirements are burdensome. IBKR and Schwab International are the safest options for Americans abroad.

Address Mismatch

If your proof of address shows a different country than the one you declared as your country of residence, the application will likely be flagged for manual review or rejected. Make sure your documents are consistent.

Incomplete or Expired Documents

Submitting an expired passport, a utility bill older than 90 days, or a bank statement with a redacted address will result in rejection. Check the dates before you upload.

High-Risk Jurisdictions

If you are currently residing in a jurisdiction flagged as high-risk by the Financial Action Task Force (FATF), expect enhanced due diligence. This does not mean automatic rejection, but the process will take longer and require more documentation.

Maintaining Your Accounts When You Move

This is arguably the most important section for nomads. Opening an account is one challenge; keeping it open when you relocate is another.

Update Your Address

Most brokerages require you to report changes of address. If you move from the UK to Portugal, your brokerage needs to know, because:

Do Not Ignore CRS Obligations

Under the OECD Common Reporting Standard, over 100 jurisdictions automatically exchange financial account information. Your brokerage will report your account balance and income to your declared country of tax residency. If you move and do not update your residency, the reports go to the wrong country, which can create problems in both jurisdictions.

US Citizens: FBAR and FATCA Never Go Away

If you are a US citizen, you must report foreign financial accounts to FinCEN (FBAR, FinCEN Form 114) if the aggregate value exceeds $10,000 at any point during the year, and to the IRS (FATCA Form 8938) if you meet the filing threshold. This applies regardless of where you live. See our guide to filing FBAR as an expat for step-by-step instructions.

Have a Backup Brokerage

If your primary brokerage decides to offboard clients from your new country of residence (this happens more often than you might expect), you need an alternative ready. IBKR is the most resilient option for this reason — their broad geographic coverage means they can usually just move you to a different entity rather than closing your account.

Multi-Currency Considerations

When you hold accounts at brokerages in different countries, each denominated in a different currency, tracking your actual net worth becomes difficult. A $50,000 account in USD and a CHF 30,000 account in Swiss francs and a SGD 20,000 account in Singapore dollars do not simply add up without FX conversion.

Currency movements can significantly impact your real returns. A position that gained 8% in local currency terms may have only gained 3% in your home currency if the local currency weakened. Our article on how FX affects investment returns covers this in detail.

This is exactly the problem FlashFi was built to solve. You can track holdings across any brokerage and any currency, with everything converted to your home currency in real time. Whether you are managing accounts at IBKR, Saxo, Schwab, or a local brokerage in Thailand or Mexico, FlashFi gives you a single view of your global portfolio.

For a detailed look at how FlashFi compares to other tools that serve international investors, see our comparison with Kubera or check out Kubera alternatives.

Summary

Opening a brokerage account as a non-resident is not impossible, but it requires preparation. Choose a brokerage that explicitly serves international clients — Interactive Brokers, Saxo Bank, or Charles Schwab International depending on your nationality and needs. Have your passport, proof of address, TIN, and source of funds documentation ready before you start. And plan for the fact that you will need to update your details and potentially move your account when you relocate.

The investment world was built for people who stay in one place. If that is not you, you need tools that work the way you do.

Start tracking your global portfolio with FlashFi — built for investors who do not stay put.

By David Brougham