What if you lie when trying to open a broker account?

I want to open an account with thinkorswim ameritrade and this is the only one I want. My question is in the application, they ask if you're a permanent resident. What if you lie and click on permanent resident? would they care? what would be the repercussions?


thanks

Life in prison.

Call their 800 number and ask

I would recommend you re-read what the form says carefully. It likely doesn't say Permanent Resident. And if it does, its probably just a variant of the vague "U.S. Resident" or "Resident of the US" or something similar. Not Legal Permanent Resident... which no longer implies - it specifies.

Every financial institution will ask you this question. For tax reasons, and for the simple fact that because of laws in effect they can't open accounts for people who aren't residing in the US with a permanent address (true especially for institutions with oversight from the SEC).

If they still leave you with doubt, consider opening with Vanguard or Charles Schwab. I have accounts with them and didn't find their form to be tricky. I had TradeKing before because of their low commissions, but in the end was disadvantageous for me as I was charged a hefty inactivity fee (I'm not a trader).

But honestly, every financial institution will ask you this sort of question.....Wells Fargo...Bank of America... Capital one (my savings account asked me the same question), brokerages like TradeKing, Vanguard, Charles Schwab, a few others have asked questions like this before for other financial services.

thank you so much for the reply, just like the other two!

I have contacted ToS and they should get back to me. The reason why I want ToS is because I have been paper trading with their platform and I'm very ready to start using real money. I will wait for their response and I will check the ones you recommended. BTW i trade options only.

did you ever open an account with thinkorswim?

They will ask for proof of your permanent resident card.

Quit the bullshit and fear mongering people, it's actually just death by lethal injection.

They will put you in a locked room with Hillary Clinton.

#LockHerUp

These days you'll probably get the rona.