Interactive Brokers Expands into Canadian Housing Market with FHSA Launch

Interactive Brokers launches FHSA in Canada, offering tax-free investment growth and flexible savings for first-time homebuyers.

Key Points:

• Interactive Brokers‘ FHSA allows tax-deductible contributions and tax-free investment growth for eligible Canadian residents.
• Clients can invest in U.S. and Canadian stocks, options, and bonds with low fees and advanced trading tools.

Interactive Brokers (NASDAQ: IBKR) has launched the First Home Savings Account (FHSA) for eligible Canadian residents, offering a tax-efficient investment vehicle for first-time home buyers.

Interactive Brokers Expands into Canadian Housing Market with FHSA Launch

The company unveiled the FHSA as a strategic tool to help Canadians reach the financial milestone of homeownership. Through Interactive Brokers Canada, account holders can also invest in a wide array of instruments, including U.S. and Canadian stocks, options, and U.S. bonds.

“Buying a home is one of the biggest financial milestones, and we’re pleased to offer a savings solution that helps Canadians reach this goal,” said Steve Sanders, Executive Vice President of Marketing and Product Development at Interactive Brokers. “Our FHSA provides tax-free investment growth, low costs, and access to global markets, empowering Canadians to maximize their savings potential.”

Also, the FHSA, a government-registered account, allows Canadians to contribute up to CAD 8,000 annually, with a lifetime limit of CAD 40,000. Furthermore, investors can deduct their contributions from taxes, and the government does not tax investment growth, including capital gains and interest.

The account also offers long-term flexibility. Moreover, if users don’t use the funds for a home purchase within 15 years, they can transfer the balance tax-free into a Registered Retirement Savings Plan (RRSP), continuing to grow their savings tax-deferred.

Eligible Canadians—those who have never owned a home or haven’t in the past four years—can open an FHSA with Interactive Brokers Canada in just a few steps. Clients will benefit from the company’s powerful trading technology, low commissions, and zero platform fees, making the path to homeownership more accessible and financially savvy.

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