Interactive Brokers Launches FHSA for Canadian Homebuyers

Interactive Brokers launches the First Home Savings Account (FHSA) for eligible Canadian residents, providing a new, tax-efficient way to save and invest toward purchasing a first home. Through this offering, clients can access a broad range of tradable instruments via Interactive Brokers Canada, benefiting from the firm’s advanced trading platforms and low-cost structure.

The FHSA, a government-registered savings account, aims to support Canadians in reaching the financial milestone of homeownership. As part of its design, the account allows contributions to grow tax-free. Additionally, capital gains and interest income earned within the FHSA are not subject to taxation, significantly increasing its appeal for long-term savers. 

Interactive Brokers Launches FHSA for Canadian Homebuyers

Clients may invest in a wide selection of assets, including U.S. and Canadian stocks, options, and U.S. bonds, enhancing flexibility in building a diversified portfolio. Each year, eligible users can contribute up to CAD 8,000, with a lifetime limit set at CAD 40,000. Furthermore, if the funds remain unused for a home purchase within 15 years, the total amount can be transferred to a Registered Retirement Savings Plan (RRSP) without incurring taxes, allowing savers to maintain their tax-deferred growth strategy. 

This dual-purpose structure adds long-term value and adaptability to the account. Commenting on the launch, Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers, stated, “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.” He further added, “Our FHSA provides tax-free investment growth, low costs, and access to global markets, empowering Canadians to maximize their savings potential.” 

First-time buyers or individuals who haven’t owned a property in the past four years are eligible to open an FHSA with Interactive Brokers Canada. The process requires only a few steps, and clients benefit from competitive commissions, powerful trading tools, and no additional platform fees. Consequently, users can manage their investments efficiently while progressing toward homeownership with greater financial confidence.

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• Interactive Brokers offers competitive fees and global trading options. 
• Also, the platform is user-friendly and cost-effective, with competitive spreads. 
• It also provides a straightforward trading experience for diverse needs. 
• Traders and investors can access a wide range of assets. 
• Novices may need time to master its robust tools. 

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