Hi I’m currently using the free trade app but plan on moving to Canada. Will I have to close my positions before moving and say bye bye to freetrade.
If so are there any similar apps or does anyone have any advice.
The Freetrade Terms and conditions in section 10
10. Restrictions On Who May Use Our Services
state
Our Services are, in addition, ONLY available to consumers who are usually resident in the United Kingdom.
I would recommend that you ping, via your app or by email, a representative of Freetrade to discuss if you need to wind down your positions. To me it is not clear that ‘moving to Canada’ necessarily means that you won’t also be a resident of the UK.
I am not familiar with Canadian stock and and shares stockbrokers so I cannot make any comments or suggestions about this aspect of your post (sorry).
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I still think what is more important - FT’s T&C or gov.uk which states
However, you can keep your ISA open and you’ll still get UK tax relief on money and investments held in it.
The question is about a Freetrade account. The T&C is about Freetrade’s services.
A separate issue - if @ Leftfield220 has an ISA (which is he does not state) of course he can move his ISA to an entity that is happy to accept it. And of course the monies and shares in that account will be subject to appropriate Foreign taxes (here Canada) and will need to be declared in that country according to that countries rules.
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My son is resident in Canada and uses WealthSimple.
I prefer “see you soon” - Canada is on the expansion radar with an office open in Vancouver 
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What happens in the future when freetrade is set up in the EU, Canada and elsewhere?
If by mid 2022 someone moves to say France or Canada and Freetrade is available to users resident in those countries, will the “we will need to close your account” rule not apply on those circumstances.
Just curious
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This hasn’t been tackled yet, I’m guessing this will be on a few to do lists.
The issues will come around taxation when moving assets to a foreign country. My guess is this will be low on their list of priorities so don’t be chateaux shopping just yet @RumNCoke
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I presume that the T&C’s will change or they will be country specific. I guess we can’t second guess this.
It does show us the complexity of operating across countries and remind us that companies have to take many things into consideration beyond technology.
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Personally I am not going anywhere for now. I’m 32 and the UK is the best place for me in this juncture in life.
That said I am a Romanian dual national and may want to more there in later life (late 40s or retirement).
Of course by then freetrade should be active in the EU, and hopefully for users resident in Romania.
One thing I would say is the tax implications of moving to another country (whether dual or multiple nationality is held) would usually come down to the investor.
The only exception I could see is that of a US person as per the inland revenue in the states.
Just an observation on my part.
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I have dual nationality. I’m from the UK but will be taking up permanent residency in Canada sometime this year. I do have an ISA through freetrade.
I will have a read of the links shown.
Thanks guys
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Wealthsimple is very similar in terms of functionality to Freetrade - it’s probably slightly better than Freetrade as a direct comparison.
For example Wealthsimple has crypto and a cheaper premium membership plan that includes 0% FX on US trades.
You should probably sell anyway for your own sanity, nevermind what Freetrade allows. When you make your declared landing in Canada, your worldwide assets’ value at that point will be used as the acquisition cost for the purposes of (Canadian) capital gains tax when you do later dispose of them. (No matter whether ISA or not, because Canada doesn’t recognise it as a tax-free account, so it spares you only from UK CGT, not Canadian.)
So if I were you, I’d save the headache and move with cash only, outside of pension accounts (which are recognised).