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Vancouver Canada resident looking for new broker

  • #1
  • First Post: Aug 23, 2018 7:10pm Aug 23, 2018 7:10pm
since IC Markets has stop accepting Canadian clients, i need to move my money elsewhere
any suggestions on a new broker?

i had ECN with ic markets but is ECN truly better?
  • #2
  • Aug 24, 2018 2:16am Aug 24, 2018 2:16am
An ECN broker would be a straight up indisputable choice for many traders especially those looking for tight spreads, negligible slippage, low commissions and quick order execution, which come on all of us are. This provides ideal conditions for scalping and hedging. I am lucky enough to have experienced the wonders of pure ECN account with Turnkey Forex and it would be perfect for you too. Don’t worry they accept clients from all over the world including Canada and are a broker to reckon with.
  • #3
  • Aug 24, 2018 3:35am Aug 24, 2018 3:35am
Hi forexvert, it's a shame IC Markets have stopped accepting Canadian clients, I'm with them myself and rate them highly.

Have you seen the other thread discussing this alternatives for Canadians? Here it is:
https://www.forexfactory.com/showthread.php?t=567594

Plenty of suggestions there.

All the best in your search :-)
  • #4
  • Aug 24, 2018 3:36am Aug 24, 2018 3:36am
Oh and here's another one:

https://www.forexfactory.com/showthread.php?t=738680
  • #5
  • Aug 24, 2018 7:17am Aug 24, 2018 7:17am
There is tradersway, turnkeyforex, lmfx I follow this thread on babypips that lists the brokers that accept us clients.

https://forums.babypips.com/t/going-...the-cftc/35612

All these brokers take in Canadians too. Hope it helps
  • #6
  • Edited Aug 25, 2018 8:17am Aug 24, 2018 10:00am | Edited Aug 25, 2018 8:17am
Im with Fxpig. Happy with them. There is GlobalPrime, Tickmill, tradeview forex..etc. None as good as IC but some decent choices. I also have account with fxcm but the leverage and commission is inanely brutal...
  • #7
  • Aug 26, 2018 8:38pm Aug 26, 2018 8:38pm
Quoting Redbaron81
Im with Fxpig. Happy with them. There is GlobalPrime, Tickmill, tradeview forex..etc. None as good as IC but some decent choices. I also have account with fxcm but the leverage and commission is inanely brutal...
how is fx pig compared to ic markets?

fx spreads/ commissions low?
  • #8
  • Aug 26, 2018 8:59pm Aug 26, 2018 8:59pm
Quoting forexvert
{quote} how is fx pig compared to ic markets? fx spreads/ commissions low?
There both worse then IC not much though.
  • #9
  • Aug 26, 2018 9:55pm Aug 26, 2018 9:55pm
Quoting Redbaron81
{quote} There both worse then IC not much though.
why? lol
  • #10
  • Aug 26, 2018 11:09pm Aug 26, 2018 11:09pm
Tickmill

500:1 leverage
2$ per side on commission
Low spreads, very close to IC but even better fill spreads

FXTM is another pretty much same as Tickmill. Spreads are a bit Higher but then you can get a commission rebate!
Learn, a forex trader must, unlearn and relearn he will.
  • #11
  • Apr 6, 2019 6:13pm Apr 6, 2019 6:13pm
any other recommended brokers that accepts clients from vancouver BC Canada?
  • #12
  • Apr 6, 2019 6:13pm Apr 6, 2019 6:13pm
Quoting COGSx86
Tickmill 500:1 leverage 2$ per side on commission Low spreads, very close to IC but even better fill spreads FXTM is another pretty much same as Tickmill. Spreads are a bit Higher but then you can get a commission rebate!
if so , why would i want that? lol
  • #13
  • Apr 7, 2019 7:32am Apr 7, 2019 7:32am
Quoting forexvert
any other recommended brokers that accepts clients from vancouver BC Canada?
Confirmed:
Global Prime Au (An actual PoP)
FxPig
Forex4You

Maybe:
RubixFx Au
AxiTrader Au

Within North America (1:50 leverage):
IG Markets
Oanda

There is no law actually banning the acceptance or rejection of Canadian clients. So it is up to the broker's interpretation of a particular ruling. To some brokers, it is a headache they don't want to deal with. Others accept certain residences without any issues.
  • #14
  • Apr 8, 2019 8:54am Apr 8, 2019 8:54am
Quoting forevermaat
{quote} Confirmed: Global Prime Au (An actual PoP) FxPig Forex4You Maybe: RubixFx Au AxiTrader Au Within North America (1:50 leverage): IG Markets Oanda There is no law actually banning the acceptance or rejection of Canadian clients. So it is up to the broker's interpretation of a particular ruling. To some brokers, it is a headache they don't want to deal with. Others accept certain residences without any issues.
The law in Canada is that if the broker is not regulated in Canada, then it can't accept Canadian clients.

Other brokers who don't follow the rules are operating in a shady area. It doesn't matter if they are regulated in Australia either. A few complaints to the Canadian authorities can result in a ban for Canadians trading with any regulated Australian or New Zealand broker. Something similar happened with ICMarkets and other brokers such as Capital Trust Markets of New Zealand.
Don't Worry Be Happy
  • #15
  • Apr 8, 2019 5:28pm Apr 8, 2019 5:28pm
Quoting MrPresident
{quote} The law in Canada is that if the broker is not regulated in Canada, then it can't accept Canadian clients. Other brokers who don't follow the rules are operating in a shady area. It doesn't matter if they are regulated in Australia either. A few complaints to the Canadian authorities can result in a ban for Canadians trading with any regulated Australian or New Zealand broker. Something similar happened with ICMarkets and other brokers such as Capital Trust Markets of New Zealand.
Is each province making their own rule, or is that Canada-wide residents? One of the brokers I spoke to actually said they could not find the law specifically prohibiting the acceptance of Canadian residents.

The regulation thing is kinda weird. IC Markets still accepts New Zealand clients, but Global Prime Au does not.
  • #16
  • Apr 9, 2019 8:05am Apr 9, 2019 8:05am
Quoting forevermaat
{quote} Is each province making their own rule, or is that Canada-wide residents? One of the brokers I spoke to actually said they could not find the law specifically prohibiting the acceptance of Canadian residents. The regulation thing is kinda weird. IC Markets still accepts New Zealand clients, but Global Prime Au does not.
https://www.osc.gov.on.ca/en/binary-options.htm

Check before you invest

Individuals and businesses need to register with their local securities regulator in order to offer investment products, services or advice to Canadians.
Before you invest, check to make sure that the person or business you’re dealing with is registered. The Canadian Securities Administrators’ National Registration Search is a quick way to check the registration of a dealer or advisor.
Don't Worry Be Happy
  • #17
  • Jan 30, 2020 4:42pm Jan 30, 2020 4:42pm
any luck yet anyone?
  • #18
  • Last Post: Jan 30, 2020 4:48pm Jan 30, 2020 4:48pm
Quoting Natalie45
There is tradersway, turnkeyforex, lmfx I follow this thread on babypips that lists the brokers that accept us clients. https://forums.babypips.com/t/going-...the-cftc/35612 All these brokers take in Canadians too. Hope it helps
never heard of turnkey, you still with them>?
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