Hi,
I read a lot, both on this forum and on google, about forex regulations in Canada. I hope Canadian traders can kindly help me in clarifying few things.
So, what I understood was that Canada has imposed some strict regulations on forex trading. Some by IIROC and some by regulatory bodies of each State (British Columbia Securities Commission (BCSC) for example).
However, I don't understand whether it's illegal and/or practically impossible to trade with overseas brokers that accept Canadian residents. My trading style requires high leverage, as most of my trades are either scalping trades or swing trades. However I read on many threads in here that, the leverage offered by Canadian brokers is very low. Is it possible to go with a broker that offers high leverage and accept Canadian residents? Or is it completely illegal or something?
Your help is much appreciated
I read a lot, both on this forum and on google, about forex regulations in Canada. I hope Canadian traders can kindly help me in clarifying few things.
So, what I understood was that Canada has imposed some strict regulations on forex trading. Some by IIROC and some by regulatory bodies of each State (British Columbia Securities Commission (BCSC) for example).
However, I don't understand whether it's illegal and/or practically impossible to trade with overseas brokers that accept Canadian residents. My trading style requires high leverage, as most of my trades are either scalping trades or swing trades. However I read on many threads in here that, the leverage offered by Canadian brokers is very low. Is it possible to go with a broker that offers high leverage and accept Canadian residents? Or is it completely illegal or something?
Your help is much appreciated