Interactive Brokers Introduces First Home Savings Account in Canada

GREENWICH, Conn.--(BUSINESS WIRE)--Interactive Brokers (Nasdaq: IBKR), an automated global electronic broker, has launched the First Home Savings Account (FHSA) for eligible Canadian residents. The account offers a tax-efficient way to save and invest for a first home while giving clients access to a broad range of tradable instruments through Interactive Brokers Canada.

“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, EVP of Marketing and Product Development at Interactive Brokers.

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The First Home Savings Account (FHSA) is a government-registered account designed to help Canadians achieve the financial milestone of homeownership.

Key benefits include:

• Tax-Free Growth: Contributions are tax-deductible, and capital gains and interest income are not taxed.
• Investment Flexibility: Invest in US and Canadian stocks, options, and US bonds using Interactive Brokers’ advanced trading platforms.
• High Contribution Limits: Contribute up to CAD 8,000 per year, with a lifetime limit of CAD 40,000.
• Long-Term Flexibility: If funds are not used for a home purchase within 15 years, they can be transferred tax-free to a Registered Retirement Savings Plan (RRSP), allowing continued tax-deferred growth.

“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, EVP 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.”

First-time home buyers or individuals who have not owned a property in the last four years can open an FHSA with Interactive Brokers Canada in just a few steps. Clients benefit from powerful trading technology, low commissions, and no added platform fees, making it easy to invest efficiently while working toward homeownership.

To learn more about individual accounts for Canadian residents, including the FHSA, visit: IBKR Canada - Individual Accounts.

The best-informed investors choose Interactive Brokers

About Interactive Brokers Group, Inc.:

Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, foreign exchange, and forecast contracts around the clock on over 160 markets in numerous countries and currencies from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation have enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron's, Investopedia, Stockbrokers.com, and many others.