Brokers for Canadians? | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Recommended Brokers for Canadians 244 replies

Any suggestions on choosing brokers for Canadians 0 replies

Brokers for Canadians 1 reply

Why are brokers ditching Canadians? 2 replies

Attachments: Brokers for Canadians?
Exit Attachments

Brokers for Canadians?

  • #61
  • Apr 24, 2018 10:59pm Apr 24, 2018 10:59pm
Quoting oak
{quote} hello mnmnmmnnmnmn, can you let me know how you will transfer funds to new broker you choose my bank RBC would charge $55USD for a 23k wire out to bank outside canada, I am thinking of switch to IB canada now. thanks
I don’t think IB is a good place to trade forex anyways. Costs too high and leverage too low for you to do anything. I also have IB account, I thought I used online transfer. Sorry couldn’t remember cuz I only wired once, after that all withdraws
Whatever is happening right now has happened before and will happen again.
  • #62
  • Apr 24, 2018 11:46pm Apr 24, 2018 11:46pm
Quoting gp00053
{quote} Take a look at TD. exchange rate is better than RBC and if you do your banking they won't charge you for transfers. They charge but then give it back. Atleast they did with me anyway. Hope that helps Gp

what about the spread?
Learn, a forex trader must, unlearn and relearn he will.
  • #63
  • Apr 25, 2018 1:29am Apr 25, 2018 1:29am
Im funding my Global Prime account using mastercard. And 3.25% will be charged for handling fee. I call that a rip off. But I know it's the same everywhere. Only $500 will be deposited to test the water
Whatever is happening right now has happened before and will happen again.
  • #64
  • Apr 25, 2018 2:03am Apr 25, 2018 2:03am
Quoting COGSx86
{quote} Your worried about 55 USD but not the exchange? Banks charge 2.5% plus the spread. Thats where they will get you. Your best bet is to use Transferwise.com if your looking to use an account abroad. You transfer the money to your TW account in Canada, then with Transferwise will find someone or many people in the country you want, who someone who wants Loonies and you trade the money. No real money leaves Canada. Cuts down on cost. Then your money is in the TW account in w/e currency you want. Then just transfer it to your broker. Go there...
in my case, funds transfer from pepperstone in usd back to RBC (total charge: $60usd), then RBC wire out the funds in usd to new broker (would charge $55+) , no exchange involved. Thanks anyway.
  • #65
  • Apr 25, 2018 2:04am Apr 25, 2018 2:04am
Quoting gp00053
{quote} Take a look at TD. exchange rate is better than RBC and if you do your banking they won't charge you for transfers. They charge but then give it back. Atleast they did with me anyway. Hope that helps Gp

I will take a look. Thanks
  • #66
  • Apr 25, 2018 7:37am Apr 25, 2018 7:37am
Quoting mnmnmmnnmnmn
{quote} I don’t think IB is a good place to trade forex anyways. Costs too high and leverage too low for you to do anything. I also have IB account, I thought I used online transfer. Sorry couldn’t remember cuz I only wired once, after that all withdraws

Yes, can use EFT transfer (both CAD and USD) to IB free of charge.

as of cost, I do one lot all the time, so the commission is 2x2=4 usd. that is much better

only bad thing is the 20-33 leverage. I would add some 4k more funds into my trading account in addition to 23k. After opening a position, one pip PnL is the same as with a 400 leverage broker, no difference.
  • #67
  • Apr 25, 2018 7:53am Apr 25, 2018 7:53am
Quoting oak
{quote} in my case, funds transfer from pepperstone in usd back to RBC (total charge: $60usd), then RBC wire out the funds in usd to new broker (would charge $55+) , no exchange involved. Thanks anyway.


Maybe Im miss understanding this, did the funds come back into Canada?


on another note: Pepperstone doesnt accept Canadians
Learn, a forex trader must, unlearn and relearn he will.
  • #68
  • Apr 25, 2018 9:50am Apr 25, 2018 9:50am
Quoting COGSx86
{quote} Maybe Im miss understanding this, did the funds come back into Canada? on another note: Pepperstone doesnt accept Canadians
i have been trading with pepperstone since 2012. the funds will have to be back first to canada.
  • #69
  • Apr 25, 2018 10:02am Apr 25, 2018 10:02am
Quoting oak
{quote} i have been trading with pepperstone since 2012. the funds will have to be back first to canada.

What rate did they give you and what date did the transaction occur?
Learn, a forex trader must, unlearn and relearn he will.
  • #70
  • Edited 12:10pm Apr 25, 2018 10:20am | Edited 12:10pm
Quoting COGSx86
{quote} What rate did they give you and what date did the transaction occur?
what rate, transaction?
  • #71
  • May 15, 2018 12:38pm May 15, 2018 12:38pm
Hi guys, If any traders from Canada, please kindly help me out. I think the recent changes in the regulations, the Forex trading in Canada made traders to trade with the broker registered or regulated by Canada. I'd like know the brokerages you guys use to trade in Canada. I need the list of genuine brokerages that accept residents of Canada and also have offices in canada if any.

Please guys i need your help here. Please kindly email the details.


Thank you
  • #72
  • May 15, 2018 2:07pm May 15, 2018 2:07pm
Quoting Traderview
Hi guys, If any traders from Canada, please kindly help me out. I think the recent changes in the regulations, the Forex trading in Canada made traders to trade with the broker registered or regulated by Canada. I'd like know the brokerages you guys use to trade in Canada. I need the list of genuine brokerages that accept residents of Canada and also have offices in canada if any. Please guys i need your help here. Please kindly email the details. Thank you
Oanda
Questrade
interactive brokers
  • #73
  • May 16, 2018 12:13am May 16, 2018 12:13am
Quoting Traderview
Hi guys, If any traders from Canada, please kindly help me out. I think the recent changes in the regulations, the Forex trading in Canada made traders to trade with the broker registered or regulated by Canada. I'd like know the brokerages you guys use to trade in Canada. I need the list of genuine brokerages that accept residents of Canada and also have offices in canada if any. Please guys i need your help here. Please kindly email the details. Thank you
Read through the whole thread you'll find the information that you need.
Whatever is happening right now has happened before and will happen again.
  • #74
  • May 22, 2018 12:43pm May 22, 2018 12:43pm
I'm searching for a broker and came across HYCM, Tickmill and Liteforex all accepting CDN's. HYCM, did exclude BC, QC and SK.
Anyone have any experience with any of these?
  • #75
  • Edited 8:53am Jun 26, 2018 7:53am | Edited 8:53am
Well it has happened best broker has kicked Canadians out...I don't know where I can go now...Either local broker with horrible spreads, commissions, leverage and executions or totally unregulated ones...what a choice...STUPID RETARDED regulator in North America...

Anyone know brokers who accept Canadians with similar great spears and commissions as IC?


"This letter is being sent to you because IC Markets understands that you are a resident of Canada. For reasons beyond its control, from 26 June 2018, IC Markets will cease supporting trading by any clients who are Canadian residents. Unfortunately, there can be no exceptions.
Accordingly, pursuant to Clause 4.7(e) and Clause 28(1) of IC Markets’ Terms and Conditions, IC Markets has no alternative but to terminate your client agreement, effective 26 July 2018. The effect of this is that you will have until 22 July 2018 to close all open positions and you will not be able to open any new positions from that date."
  • #76
  • Jun 26, 2018 8:32am Jun 26, 2018 8:32am
Quoting Redbaron81
Well it has happened best broker has kicked Canadians out...I don't know where I can go now...Either local broker with horrible spreads, commissions, leverage and executions or totally unregulated ones...what a choice...STUPID RETARDED regulator is North America... Anyone know brokers who accept Canadians with similar great spears and commissions as IC? "This letter is being sent to you because IC Markets understands that you are a resident of Canada. For reasons beyond its control, from 26 June 2018, IC Markets will cease supporting trading by...
I'm an American citizen but I live in Alberta. So I already have to contend with most brokers not wanting anything to do with Americans, but also Alberta's Accredited Investor bullshit stopping me from using both foreign brokers that require me to have that status and all Canadian brokerages. So yeah........this sucks.
  • #77
  • Edited 9:30am Jun 26, 2018 8:49am | Edited 9:30am
I think it's time to leave Canada...I really don't know what else to do, they make it impossible to trade. Lucky I have EU citizenship as well so dam...big decisions to come.
  • #78
  • Jun 26, 2018 8:57am Jun 26, 2018 8:57am
What a joke!
Learn, a forex trader must, unlearn and relearn he will.
  • #79
  • Jun 26, 2018 9:02am Jun 26, 2018 9:02am
yes I just got notice from IC Markets that my account will no longer be valid as of july 22 what the hell is Canada doing
  • #80
  • Jun 26, 2018 9:14am Jun 26, 2018 9:14am
Quoting Redbaron81
Well it has happened best broker has kicked Canadians out...I don't know where I can go now...Either local broker with horrible spreads, commissions, leverage and executions or totally unregulated ones...what a choice...STUPID RETARDED regulator in North America... Anyone know brokers who accept Canadians with similar great spears and commissions as IC? "This letter is being sent to you because IC Markets understands that you are a resident of Canada. For reasons beyond its control, from 26 June 2018, IC Markets will cease supporting trading by...
Yes I have received this as well.
I am from Ontario and has been using ICMarkets for the past 1 year.
Live life king size !
1 trader viewing now