The application typically takes 10–15 minutes to complete, with the account . Restricted accounts (Insiders, major shareholders, CIRO members) may take 1-2 Business days as they will have to be approved before you can complete onboarding.
We use your legal name and prefix to ensure official documents (contracts, tax forms) are accurate and professionally addressed.
When selecting a prefix, please select the most accurate option. If none of these options are suitable for you, you can simply leave this field blank.
Please provide your legal name as it appears on your government-issued ID (e.g., passport, driver’s license).
This verifies your identity and ensures compliance with age-related regulations.
Please list the Citizenship in which country you spend the largest portion of the year in.
By providing your email address to us, we can send you all relevant documents associated with your account. This includes trade confirmations, account statements, and tax forms. Further, should you set up price alerts for specific securities, those alerts will be sent to your email.
Your phone type helps us contact you efficiently (e.g., SMS for mobile).
Area Code is the first 3 digits in your phone number. This information helps us ensure correct dialing for international/local numbers.
Collection of your phone number is used for urgent updates or two factor authentication.
Yes! Notify our support team at info@independentdirect.ca to update your information.
Data is encrypted and stored securely, complying with modern encryption standards. Only authorized personnel have access.
Reach out to our team at info@independentdirect.ca for guidance.
For this section, we rely on Canada post for address verification. If you cannot find your address, please type it in manually.
Obtaining your address is mandatory for brokerage account opening in order to deliver you official documentation, tax purposes and compliance with regulations.
You will have a different mailing address if you wish for your mail from Independent Direct to go to a different address from where you live.
Provide your current mailing address. If you’re in transition, notify info@independentdirect.ca to discuss alternatives.
Address Number: Your building/house number (e.g., *123* Main St). Unit Number: Specific apartment/suite (e.g., Unit 4B).
Notify our support team at info@independentdirect.ca with your new details. Prompt updates avoid delivery or compliance issues.
We use this information for verification purposes and for compliance with regulatory requirements.
If your type of business doesn’t exist in our drop down menu, please select the option that you deem to be most correct.
If you are unemployed, please select ‘Unemployed’ in the type of business section.
This section is limited to 20 characters. Please summarise your job title if it is more than 20 characters.
If you are a student, please select “education” in the type of business field, and put the name of your educational institution in the employer section, followed by “student” in the job title section.
If you are self-employed, please indicate this in the “employer” section.
We will not contact your employer unless required by law.
As per International regulations, this determines your tax obligations.
You’re considered a Canadian tax resident if you live in Canada or have significant residential ties to Canada (such as a home, family, or job here). Most Canadian citizens and permanent residents fall into this category.
Federal regulations require us to collect your SIN to:
Your SIN is stored securely using industry-standard encryption and privacy controls.
If you’re a U.S. citizen, green card holder, or meet the Substantial Presence Test, you’re considered a U.S. tax resident and must declare it. You will also be required to complete a W-9 form.
If you reside in another country for tax purposes, we are required under the Common Reporting Standard (CRS) to collect and report your tax residency and TIN (Tax Identification Number) to the CRA, which may share it with your home tax authority.
A TIN is the identification number used by your country’s tax authority. For example, a SIN in Canada or SSN in the U.S. If you’re a tax resident in another country, please provide your local TIN if applicable.
Your tax residency depends on local laws. Consult a tax advisor if you are unsure.
If your residency status changes mid-year, please reach out to our support team at info@independentdirect.ca
We collect this information to help assess your financial profile and ensure we meet regulatory KYC (Know Your Client) obligations. It helps us better understand your risk tolerance and financial responsibilities.
Please select the option that reflects your current legal status:
Single – You are not currently married or in a common-law relationship.
Married – You are legally married.
Common-Law – You live with a partner in a marriage-like relationship (usually for at least 12 months, depending on province).
Divorced – Your marriage has been legally dissolved.
Separated – You are still legally married but are living apart.
Widowed – Your spouse has passed away, and you have not remarried.
“Common-Law” refers to a relationship where two people live together in a conjugal relationship for a continuous period (typically at least 12 months, though the definition may vary by province).
You can update your information anytime by contacting our support team or through your account settings once your account is active.
No. This information is collected strictly for regulatory and suitability purposes. It won’t prevent you from opening an account.
Yes, you can open multiple account types. You’ll be able to select more than one registered account, but non-registered accounts are limited to either cash or margin.
No minimum deposit is required to open most accounts. However, certain features (like margin trading) may require a minimum balance at Independent Direct’s discretion.
An Individual Cash Account is a standard investment account. You can buy and sell securities using funds you’ve deposited—no borrowing or margin trading allowed. All gains/losses are subject to tax.
A Margin Account lets you borrow funds using securities you already own as collateral. It increases your buying power but also increases risk. Approval is required, and interest is charged on borrowed amounts.
A TFSA allows your investments to grow tax-free. You won’t pay tax on interest, dividends, or capital gains, even when withdrawing funds. There are annual contribution limits set by the CRA.
An RRSP allows you to contribute pre-tax income to save for retirement. Contributions are tax-deductible, and investments grow tax-deferred. Withdrawals are taxed as income and may be subject to withholding tax.
Yes! You can open multiple account types (e.g., TFSA + Margin) during onboarding. Each account will be managed under your main profile but operate separately.
Please select the option that reflects your current legal status:
Single – You are not currently married or in a common-law relationship.
Married – You are legally married.
Common-Law – You live with a partner in a marriage-like relationship (usually for at least 12 months, depending on province).
Divorced – Your marriage has been legally dissolved.
Separated – You are still legally married but are living apart.
Widowed – Your spouse has passed away, and you have not remarried.
Yes. These are set annually by the CRA. To understand your contribution limits, please consult a tax advisor.
This refers to your ability to reduce the amount of withholding tax on income earned from the U.S. (or other foreign) investments, based on a tax treaty between your country of residence and the foreign country.
Please consult a tax advisor to determine if you are eligible.
If you’re a Canadian resident and plan to invest in US-listed securities, selecting “Yes” will ensure you’re taxed at the appropriate treaty rate.
If you select “No” you may be subject to the default higher withholding tax rate (usually 30%).
This is an additional section of the W-8BEN form where eligible investors can claim even more specific reduced tax rates or exemptions
Please consult a tax professional to determine your eligibility.
Incorrect or incomplete tax treaty claims may result in higher withholding taxes or delays in processing
Yes. You can update your tax documents by contacting our support team at info@independentdirect.ca These forms must be renewed every 3 years or sooner if your tax status changes.
These questions help us meet regulatory requirements and ensure your account is opened in compliance with Canadian securities laws and industry standards. This information also helps us understand any special handling or oversight your account might require.
All your information is encrypted and stored securely.
What is a Trusted Contact Person?
Naming a Trusted Contact Person helps us respond to possible situations of financial abuse or fraud affecting your account. It allows us to know who you trust and who we have permission to contact in the event there is a concern about your well-being under specific situations. Naming a Trusted Contact Person does not give that individual any authority over your account. Naming a Trusted Contact Person is optional, but it can give you peace of mind knowing that we have an additional resource to help take appropriate action to protect you and your account.
If anyone other than the account holder(s) will have:
…you must declare it. Additional documentation is required to authorize them.
What does it mean to be a reporting insider or affiliate?
You’re a reporting insider if you’re a director, officer, or significant shareholder (10% or more) of a publicly traded company. Affiliates include people in a close business or family relationship with such insiders.
If you individually or as part of a group control 20% or more of the voting shares of a publicly traded company, you must disclose it—even if you don’t hold a formal position.
If you or someone you live with is an employee, officer, director, or partner of a Canadian Investment Regulatory Organization (CIRO) member firm (formerly IIROC), you must disclose that here.
A third party is anyone who is not named on the account but will use it, fund it, or benefit from it. If this applies, we may request additional documentation.
If someone not named on the account has a stake in the account’s success/failure (i.e., they could gain or lose money from it), or if someone else is guaranteeing the account financially, it must be disclosed.
A PEP is someone who holds (or has held) a high-profile public position, such as a:
An HIO is someone who is or was a senior official of an international organization (e.g., the UN, IMF).
We also need to know if any of your family members fall into these categories, as required by anti-money laundering (AML) laws.
No. These disclosures don’t prevent account opening. They simply help us meet our compliance obligations and may require additional review or documentation.
