DislikedHi everyone, I was wondering what broker fellow traders living in Canada (Ontario) use or anyone with some experience trading live would recommend. I have looked into; Oanda: Pros - CAD based account Cons - Huge spreads, MM, only one withdrawal a month before incurring extra fees IC Makets: Pros: good spreads, regulated, CAD based account, decent commissions Cons: Only wire withdrawals $20 each Pepperstone: pretty much identical to IC. FXOpen similar to the previous two. Tickmill Pros: best spreads out of everyone, supposedly free wires, best commissions...Ignored
And as a Canadian, you should NOT be looking to find a broker that offers CAD based accounts. Instead you should be looking for a broker that gives you decent fills with low or non-existent slippages especially if you are a scalper, doesn't trade against you and has low spread and/or commissions just like anyone else. Whether they offer CAD based accounts is irrelevant because in forex trading, everything is still settled in USD which is the quote currency for most of the major pairs so even if they do offer CAD based accounts, you would still have to convert it into USD to trade and it's a pain in the a** to convert. So keep everything in USD with the broker and then convert all the profit back into CAD with TD once they have safely arrived in Canada.
Make your losses in demo. Earn your profits live.
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