Does anyone use Interactive Brokers LLC (USA account) instead of the AU account? I have a relative residing in the USA who could help me sign up for the LLC account instead of the AU account if its worth it. Looks like the LLC/USA account allows for more trading options and currencies, just wondering if there's any obvious disadvantages to using the LLC/USA account to trade instead of the AU account? Cheers!
This isn't financial advise.
The important piece here is your residency, you really ought to be telling the truth to the IRS/SEC/ATO about your residency status.
You'll want to file a W8-BEN as per the above, when dealing with US shares to avoid double taxation.
The platform provided by Interactive Brokers lets you trade multiple currencies/stocks etc and is pretty solid.
You couldn't do it even if you wanted to unless you had a US Social Security Number, IIRC
Do you meet the residency requirements?
Sounds like you'd be lying to Interactive Brokers,
The SEC about foreign residency status.
The IRS about residency status or paying withholding.
And then getting taxed twice because you can't file a W8-BEN.