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I’m from Israel single age 18, for an ITIN I don’t qualify therefor I can’t get a TIN to open a brokerage account, what’s the solution? Do I even need these? Or just a w-8 form

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  • Do you live in the US, or do you just want to invest in US assets while living in Israel? May 12 '18 at 12:45
  • I want to invest in the US market from Israel
    – Rani Faris
    May 12 '18 at 13:59
  • Interactive Brokers offers trading in 200+ countries, including Israel. I do not know what their requirements are. Apr 24 at 20:13
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You don't need an US taxpayer identification number in order to invest money through an US brokerage, if you're neither a citizen nor a resident. As far as tax goes, it should be sufficient to fill out a Form W-8BEN for the broker's records.

At least, that is my experience when I needed a brokerage account when my employer wanted to issue stock in their American parent corporation to me. However, I suspect the employer may have paid the broker to accept me as a customer; the account has been conspicuously free of maintenance fees, or even fees for wire transfers. I don't know how easy it is for a complete stranger to find a US brokerage that will do business with you, but at least there doesn't seem to be any regulatory barriers to doing so.

If you're not planning to do frequent speculative trades, it may be more convenient for you to find an Israeli financial institution that can trade on the US markets for you. This may (or may not!) be more expensive for you in fees out of pocket, but can potentially save you a lot of tax headaches.

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  • I’m trying to make a career out of trading so I’d rather go through the headaches knowing it’s goin to be better for me in the long run, I have contacted tastyworks and informed them that I’m interested in trading using their platform and they told me I have to provide them with either an international ID or a local tax ID which I both lack. Whats a local tax ID and do I have one?
    – Rani Faris
    May 12 '18 at 14:25
  • By local tax ID I assume they mean "however you are identified to the Isreali tax authorities" (I assume they exist!). I'd doubt (but could be wrong) that the brokers would actually report to them: it's probably just for their records (so they can show they've asked the right questions etc. if asked).
    – TripeHound
    May 14 '18 at 9:34
  • " an international ID " - you mean like a passport? Good luck opening a brokerage account without an internationally accepted id paper. Never ahd to provide local tax id's (and I hold way more than most people here earn in a decade in some accounts), but having internationally valid ID papers is sort of a requirement. Proof of identity.
    – TomTom
    Aug 10 '18 at 16:28

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