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-   -   Recommended Brokers for Canadians (https://www.forexfactory.com/showthread.php?t=567594)

demark1 Mar 12, 2018 10:48am | Post# 81

{quote} Keep increasing welfare spending, then eventually the bubble will burst. It baffles me how many people in this country don't understand this simple concept. That and the whole minimum wage hike in Ontario. We lost 51k part time jobs in january alone, yet everyone that voted liberal pretends the wage hike has nothing to do with people losing their minimum wage jobs.
Ontario is the worst place in Canada coz half million manufacture jobs lost in last 20 years and highest debt load in the world. yes the debt bubble will blow up. Canada is running trade deficit since 2007 so central bank have to print money in order to stay operational. Free trade create winners and losers. It appears canada is a loser.

Minimum wage hike is the right thing to do coz minimum wage fall behind inflation in last 20 years. 20 years ago minimum wage in ontario was 6.85 an hour but banana was 10 cent a pound and gas was 50 cent a liter or less. Price on everything has been more than doubled. 14 dollars now can not buy u 6.85 dollars can buy back then. Do you think you get paid more? NOOOO..
Bankers cheated u coz CPI does not include the price on food and gas. lol It is designed for cheating.

The recommended broker is to live in another country so you have access to all the brokers. It is even better if you pay less tax..

available Mar 14, 2018 10:59am | Post# 82

{quote} Ontario is the worst place in Canada coz half million manufacture jobs lost in last 20 years and highest debt load in the world. yes the debt bubble will blow up. Canada is running trade deficit since 2007 so central bank have to print money in order to stay operational. Free trade create winners and losers. It appears canada is a loser. Minimum wage hike is the right thing to do coz minimum wage fall behind inflation in last 20 years. 20 years ago minimum wage in ontario was 6.85 an hour but banana was 10 cent a pound and gas was 50 cent...
Don't you think if Canada is loser in free trade, why Trump would apply steel tariffs and force on Nafta talks.
And Canada is developed economy, it doesn't rely on seniorage (profit from money printing) to pay on gov. debt. Also learn how to tell apart trade deficit (which is ok) with budget deficit (which can be paid by seniorage or increasing government debt).
Try to look more optimistic about your country would really love to move there.

p11d May 24, 2018 3:32pm | Post# 83

i read somewhere about registering a business to avoid paying hefty taxes or something in Canada. anyone know anything about that? also, if global prime decides to not accept Canadian clients anymore, they will wire all your money back right?

Sonofsin5 May 25, 2018 10:43pm | Post# 84

i read somewhere about registering a business to avoid paying hefty taxes or something in Canada. anyone know anything about that? also, if global prime decides to not accept Canadian clients anymore, they will wire all your money back right?
I would leave them immediately if there is any thought of them closing.
Speaking from experience, I lost a lot when IAMFX went down.
What you are referencing is opening a holding company to deffer tax. I would talk to your accountant first about this, If your dont have one I would recommend KPMG in Canada for this.

p11d May 26, 2018 6:24pm | Post# 85

{quote} I would leave them immediately if there is any thought of them closing. Speaking from experience, I lost a lot when IAMFX went down. What you are referencing is opening a holding company to deffer tax. I would talk to your accountant first about this, If your dont have one I would recommend KPMG in Canada for this.
Thnx for your reply. Why is Global Prime being so highly recommended in this thread when the same ppl are saying in 3 months they will no longer accept Canadian clients? Do you know any good brokers for fx traders in Canada? I'm only aware of Oanda and Global Prime atm.

4xNewGuy Jun 2, 2018 8:21pm | Post# 86

i read somewhere about registering a business to avoid paying hefty taxes or something in Canada. anyone know anything about that? also, if global prime decides to not accept Canadian clients anymore, they will wire all your money back right?

Why is Global Prime being so highly recommended in this thread when the same ppl are saying in 3 months they will no longer accept Canadian clients? Do you know any good brokers for fx traders in Canada? I'm only aware of Oanda and Global Prime atm.
As far as the taxes thing is concerned. I have no idea. I just claim my forex earnings when tax season comes along. Trying to dodge taxes is a risky business I'd rather not do. If Global Prime does stop accepting Canadian clients, yes they will give you your money back. When I was with XM, and they stopped allowing Canadians to trade with them, they sent me an email stating that at the end of the month, I could no longer open any more trades, and any trades that were open would be closed. I then had another month after that to withdraw my money from the account.

Check out the reviews at forex peace army. I was thinking about signing up with global prime, but decided on fx pig instead since they offer a credit card. You can sign on with a Canadian brokerage like Oanda or FXCM, but the leverage rates are absolutely horrible. That's why there are Canadians looking to trade with an offshore broker.

Drifter243 Jun 26, 2018 3:47am | Post# 87

1 Attachment(s)
I just got an email from IC markets, they are giving me until July to close my positions. That's one less good broker I can trade with
Click to Enlarge

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SirYodaa Jun 26, 2018 7:59am | Post# 88

I just got an email from IC markets, they are giving me until July to close my positions. That's one less good broker I can trade with {image}
I got this email as well, absolutely horrible way to wake up lol. Any ideas on which broker you will go with now? after trying oanda and IC markets, I prefer going with ECN brokers.

Drifter243 Jun 26, 2018 8:29am | Post# 89

{quote} I got this email as well, absolutely horrible way to wake up lol. Any ideas on which broker you will go with now? after trying oanda and IC markets, I prefer going with ECN brokers.
Honestly, I think I'll just bite the bullet and go with FOREX.com. My strategy doesn't use more than 1:10 leverage anyways, so it doesn't effect me a whole lot. It still sucks though. I'm tired of globetrotting just to trade currencies. I have an ea that does everything on autopilot so I just plug and play haha

I'm definitely going to start getting back into equities. Way easier to make money IMHO.

I was thinking about Vantage FX, but I am leery as to what will happen to them too. I know they say they're not going anywhere, but I am not confident at this point

CanuckCT Jun 26, 2018 10:01am | Post# 90

Got the same e-mail. Disappointing as this was a good broker.

COGSx86 Jun 26, 2018 10:07am | Post# 91

So does Vantage FX still accept Canadians ?

newtrojan Jun 26, 2018 12:51pm | Post# 92

Brutal what IC Markets Did today. Woke up to disappointment.

Any recommended brokers ?

I am thinking Vantage FX. though I use Ctrader quite a lot but ATM having a live account is the major issue.

newtrojan Jun 26, 2018 7:44pm | Post# 93

I just opened an account with FXPIG.


Name sounds lame but looked good.

Mithradates Jun 26, 2018 8:18pm | Post# 94

Looking for new brokers since IC Markets is done with Canadians. I've been looking at Forextime (FXTM), they look promising. Up to 1:1000 leverage and have ECN accounts. They don't accept BC, Quebec or Saskatchewan residents though. Anyone have any experience with them?
Also I just realized I have an old Tickmill account that I barely used. Going to open up a 1:500 Pro account with them. Tickmill Seychelles (FSA) still accepts Canadians I believe. Trying to look at VantageFX but their site has been down hours for me.

newtrojan Jun 26, 2018 8:33pm | Post# 95

Looking for new brokers since IC Markets is done with Canadians. I've been looking at Forextime (FXTM), they look promising. Up to 1:1000 leverage and have ECN accounts. They don't accept BC, Quebec or Saskatchewan residents though. Anyone have any experience with them? Also I just realized I have an old Tickmill account that I barely used. Going to open up a 1:500 Pro account with them. Tickmill Seychelles (FSA) still accepts Canadians I believe. Trying to look at VantageFX but their site has been down hours for me.

I read a lot of negative reviews about FXTM on ForexPeaceArmy have a look there.

CanuckCT Jun 26, 2018 9:16pm | Post# 96

IC Markets still accepting trades, for the moment, despite notice today. Will see what tomorrow brings.

BlindMist Jun 26, 2018 11:29pm | Post# 97

According to their email, IC Markets is ceasing operations in Canada. They give you one month to close your positions or they will do it for you. It's very sad, their spreads are hard to beat.

FXTM is a good broker, but with less competitive spreads.

Any other recommendations for brokers that accept Canadians are greatly appreciated.

DesiBaba Jun 27, 2018 12:22am | Post# 98

Vantage FX said they do not accept traders from BC.


newtrojan Jun 27, 2018 10:22am | Post# 99

Vantage FX said they do not accept traders from BC.
Open a corporation in Manitoba and then trade via it.

Mithradates Jun 27, 2018 2:23pm | Post# 100

Did some searching and I came across BlackBull Markets, they have great reviews on FPA (4.8 stars), max 1:500 leverage and accept CAD deposits. Almost seems too good to be true, anyone have any experience with them?


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