Port de Provenance
Field Note · Logistics
Field Note · Logistics
The brokerage trap — US accounts that freeze when you go non-resident.
Most US brokers will freeze or restrict your account the moment your address goes non-resident. Interactive Brokers and Charles Schwab International generally will not. The mechanics, the workable list, and what to do before you leave.
Why this happens
Federal regulations require US brokers to know where their customers reside. Many discount brokers (Fidelity, Vanguard, Robinhood, E*TRADE) have responded by restricting trading or imposing position-only status when a US address changes to a foreign one. Public reports show this enforcement tightened materially after 2020.
The brokers most often reported as friendly to non-residents
- FriendlyInteractive Brokers · global · Operates in 200+ countries. Will accept a foreign address on a US-citizen account in most cases. The most-cited safe harbor in expat forums.
- FriendlyCharles Schwab International · selective · Maintains a separate Schwab International entity for US citizens abroad. Account minimums and country eligibility apply — confirm before relocating.
- MixedFidelity · case-by-case · Some US-citizen expats keep accounts open with continued use; others report position-only restrictions when the address changes. No published policy.
- RestrictiveVanguard · common · Frequently reported as moving accounts to position-only status for non-resident addresses. Treat as not nomad-friendly.
- RestrictiveRobinhood / E*TRADE / Public · common · Foreign addresses commonly trigger account closure or freeze.
What to do before you leave
Three steps long-term nomads consistently recommend in public threads: (1) open an Interactive Brokers or Schwab International account while still US-resident; (2) maintain a US mailing address through a tax-friendly state — see state residency and mail forwarding; (3) avoid telling existing brokers about a permanent address change unless legally required.
Sources
- Interactive Brokers and Charles Schwab International published account requirements, 2026
- r/expatFIRE and r/Bogleheads non-resident brokerage threads, 2024–2026
- FINRA and SEC guidance on US-citizen non-resident accounts
The Sunday Edition
One short research note per week. Sundays. Sourced. The free pre-departure checklist comes with signup.
We never share your email. The Sunday Edition is the only recurring send.
From the Port de Provenance —