Personal Finance

How to open a stock trading account as a incorporated corporation?

  • Last Updated:
  • Dec 21st, 2020 7:56 am
[OP]
Member
May 22, 2019
484 posts
105 upvotes

How to open a stock trading account as a incorporated corporation?

Can I open a stock trading account like wealth simple as a corporation?

I am incorporated and left quite some amount of money in my company account.
7 replies
Deal Addict
Jan 21, 2018
4570 posts
4626 upvotes
Vancouver
Better to check in the Small Business forum,

But if you change the main business of your corporation to stock trading, you may run into issues with the CRA.
Sr. Member
Nov 28, 2019
516 posts
241 upvotes
ilovetoyota wrote: Can I open a stock trading account like wealth simple as a corporation?

I am incorporated and left quite some amount of money in my company account.
I don't think wealth simple allows corporate account as I think I looked into it while I was looking to setup my corp with a trading account and it said it was not supported. Questtrade does for sure as I opened one many months ago. It is just alot of paper work to do. I was on the phone with their support for like 2 hours going through it all as it was kinda confusing to do.
Deal Fanatic
Oct 7, 2007
8327 posts
4286 upvotes
You would need to contact Wealth Simple first to find out if they allow for corporate accounts.

However, most of the big 5 brokerages allow for corporate trading accounts so it would only be a matter of Wealth Simple's policy whether they allow this or not.
Member
Aug 17, 2006
472 posts
222 upvotes
Toronto
I use questrade and major bank for my corporate investing.

So we've answered the question about Incorporated corporations... But, what about unincorporated corporations?
Deal Addict
Jan 30, 2012
1549 posts
903 upvotes
TORONTO
tweep0 wrote: So we've answered the question about Incorporated corporations... But, what about unincorporated corporations?
Ummm, what?

A corporation is by definition incorporated :)

Perhaps you are referring to a charity, a partnership, a trust or some other kind of legal entity.

Pretty much any type of legal entity can open a bank account (or investment account) like any other activity - it needs the approval of management and sometimes a resolution of the board.
Member
Apr 16, 2015
276 posts
368 upvotes
M8Rxmjsik wrote: Ummm, what?

A corporation is by definition incorporated :)

Perhaps you are referring to a charity, a partnership, a trust or some other kind of legal entity.
I think it was a joke :)
Deal Fanatic
Nov 22, 2015
5765 posts
5264 upvotes
M8Rxmjsik wrote: Ummm, what?

A corporation is by definition incorporated :)

Perhaps you are referring to a charity, a partnership, a trust or some other kind of legal entity.

Pretty much any type of legal entity can open a bank account (or investment account) like any other activity - it needs the approval of management and sometimes a resolution of the board.
Read the title of the thread :D

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