DislikedIf I register with Dukascopy, do I have to declare tax in Canada? It is an offshore broker.Ignored
Any suggestions on choosing brokers for Canadians 0 replies
Recommended Brokers for Canadians 242 replies
Brokers for Canadians 1 reply
Why are brokers ditching Canadians? 2 replies
DislikedIf I register with Dukascopy, do I have to declare tax in Canada? It is an offshore broker.Ignored
DislikedI am compiling a list of potentials with spreads/commissions equal to IC Markets but unregulated. So far the best two I have found on myfxbook are Coinexx and Finprotrading. Spreads are lower overall. Both are unregulated and offer Crypto's as a funding method. Coinexx only accepts crypto as deposit but account can be in USD. Does anyone have experience with either or know someone who does?Ignored
QuoteDislikedBubbaHotep I am compiling a list of potentials with spreads/commissions equal to IC Markets but unregulated. So far the best two I have found on myfxbook are Coinexx and Finprotrading. Spreads are lower overall. Both are unregulated and offer Crypto's as a funding method. Coinexx only accepts crypto as deposit but account can be in USD. Does anyone have experience with either or know someone who does?
Disliked{quote} Hello BubbaHotep, both the brokers that you have selected are top notch and I have an account with both coinexx and finprotrading. Infact the trading account I had in my FF profile was opened with finprotrading. But if I have to pick one over the other, I would recommend coinexx. Since coinexx provides better spread than finpro, has sharper execution time (please note im taking about ms here and it might not be releveant to 90% of traders out there, but just in case you are super latency sensitive). the major difference between finpro and...Ignored
Disliked{quote} Hello BubbaHotep, both the brokers that you have selected are top notch and I have an account with both coinexx and finprotrading. Infact the trading account I had in my FF profile was opened with finprotrading. But if I have to pick one over the other, I would recommend coinexx. Since coinexx provides better spread than finpro, has sharper execution time (please note im taking about ms here and it might not be releveant to 90% of traders out there, but just in case you are super latency sensitive). the major difference between finpro and...Ignored
DislikedNopes, Never had any issues... Coinexx is much faster in making withdrawals than finpro because coinexx pays withdrawals in cryptos, in a few cases I got my funds in matter of hours but finpro is also top notch, never more than 24 hours (in one case it went to 2 days but that was because of the bank and not because of finpro). Both these guys are best of the breed (per my experience)Ignored
DislikedIf I register with Dukascopy, do I have to declare tax in Canada? It is an offshore broker.Ignored
DislikedIIROC has just destroyed the Forex market for Canadians with absolutely absurd margin requirements like classifying the AUD/JPY for example as an exotic instrument with...for some reason...14.3:1 margin requirements. Yeah...fourteen point three...IF it's a Canadian dollar account. If your account is EUR denominated, then it's 7.7:1 for some reason. It's one thing to protect investors by pulling moves like say limiting leverage to 200:1 or something (forex leverage is so madly misunderstood it seems) but garbage like that? My god, who the hell is...Ignored
Disliked{quote} yes, whatever you earn outside of Canada has to be declared unless you want to do something shady and not pay taxes some people try to withdraw their Forex profit and convert it to crypto to later make crypto only transactions to purchase goods/services, which still won't work because the government can catch you the government even monitors social media these days to watch what you post online, if you have a picture of yourself wearing a Rolex but didn't declare any income in Canada, then you might be audited if you have a picture of yourself...Ignored
Disliked{quote} Hello BubbaHotep, both the brokers that you have selected are top notch and I have an account with both coinexx and finprotrading. Infact the trading account I had in my FF profile was opened with finprotrading. But if I have to pick one over the other, I would recommend coinexx. Since coinexx provides better spread than finpro, has sharper execution time (please note im taking about ms here and it might not be releveant to 90% of traders out there, but just in case you are super latency sensitive). the major difference between finpro and...Ignored
Dislikedquote: IIROC has just destroyed the Forex market for Canadians with absolutely absurd margin requirements... Let's see what the root cause of this is. Back in late 90's when FX trading entered the public domain, governments a lot of countries scrambled to come up with regulation and open agencies that dealt with this new line of trading. In Canada, Instead of doing much research and instead of dedicating extra resources to developing a proper regulatory agency, they just threw the matter onto the existing regulatory firms such as BCSC and other...Ignored
Disliked{quote} the people destroyed it because of their complaints against regulated and honest brokers when 80%+ of people lose in Forex trading, there is something wrong with how they trade and perhaps, they shouldn't trade at all and not step in a casino or play the lottery either while there are some bad brokers out there, most are actually good and do not scam their tradersIgnored