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Brokers for Canadians?

  • #221
  • Aug 1, 2019 10:11pm Aug 1, 2019 10:11pm
Quoting TheSpoof
I moved my Vantage account over to the Cayman Islands division yesterday - zero interruptions in my trading. I have no reason not to trust that Vantage will keep up their good work. I also have an account with Dukascopy but I blew it up and haven't refunded it based on some troubling financial news coming from them. They are having some operating losses...makes me a little leery of re-funding my account. I have no problems with them otherwise
I've been looking into duka for a while. I remember reading somewhere on their site that the swiss banks basically have a buy-in. Meaning if one fails, the other banks bail them out to the tune of 100k chf per client account. That seems like a pretty safe deal. It's also worth noting that Dukascopy's FX branch, is just one branch of the institution altogether. Only reason I'm giving them the benefit of the doubt, is that both their spreads and swaps are fantastic. Their commissions are higher than some brokers, but still quite low if you have a $10k account or above. I'm with fxpig, and their regulations are even more lax. I haven't had any problems with withdraws or execution. I wish their ping/latency would be a bit better (roughly 100ms), aside from that though, no problems. Just HORRIBLE swaps though. They have the worst swaps ever.
  • #222
  • Aug 2, 2019 7:40am Aug 2, 2019 7:40am
Quoting 4xNewGuy
{quote} I've been looking into duka for a while. I remember reading somewhere on their site that the swiss banks basically have a buy-in. Meaning if one fails, the other banks bail them out to the tune of 100k chf per client account. That seems like a pretty safe deal. It's also worth noting that Dukascopy's FX branch, is just one branch of the institution altogether. Only reason I'm giving them the benefit of the doubt, is that both their spreads and swaps are fantastic. Their commissions are higher than some brokers, but still quite low if you...
Dukas is great cuz its an LP as well i guess for fast execution. But i hate the fact that you have to pay 1 for each lot to a third party bridge.
Whatever is happening right now has happened before and will happen again.
  • #223
  • Aug 2, 2019 2:12pm Aug 2, 2019 2:12pm
Quoting 4xNewGuy
{quote} I've been looking into duka for a while. I remember reading somewhere on their site that the swiss banks basically have a buy-in. Meaning if one fails, the other banks bail them out to the tune of 100k chf per client account. That seems like a pretty safe deal. It's also worth noting that Dukascopy's FX branch, is just one branch of the institution altogether. Only reason I'm giving them the benefit of the doubt, is that both their spreads and swaps are fantastic. Their commissions are higher than some brokers, but still quite low if you...
I've traded with duka. They are tops for security of funds. Their primary client software is JForex. They sometimes grudgingly offer MT4, but I suspect they don't actually process those trades themselves, they just send that volume over to someone else.

Here is a brief review of things I love and don't love about JForex.

Love

  1. Magnificent charts. Makes MT4 look like a leftover from the '90s. If you want 27-minute bars, it can do it. If you want 4-tick candles, it can do it. Point and figure no problem.
  2. Order book visibility is built in (its just Dukascopy's order book AFAIK, but they do process a considerable volume of trade).
  3. True volume, not just tick counts. Again, its just Dukascopy's volume, but I seem to recall reading somewhere that 10% of the world's forex trading volume passes through duka.
  4. It downloads and stores every tick so it can exactly reconstruct charts with any bar sizes such as 19-second bars.

Don't Love

  1. It's written in Java. I hate Java.
  2. Its a CPU hog. During busy trading times, JForex averages 35% CPU usage on my machine. Under similar conditions MT4 draws maybe 8 - 15% CPU usage. Adding lots of charts and indicators can really load the CPU down.
  3. Custom indicators or trading systems can be written but only in Java. They do have a translator that automatically converts from MQL to something JForex can run but the result is clunky and inelegant, running poorly.
  4. It takes a long time to launch. Several minutes. You launch it from a browser.

Net net

  1. If you prefer to manually trade and don't run lots of indicators on lots of charts at once, you'll probably like JForex.
  2. If you are a die hard MT4 fan, duka will probably disappoint, despite the claims their marketing people make.

Sure I have a trading plan. Buy low. Sell high. What's yours?
  • #224
  • Aug 4, 2019 7:58pm Aug 4, 2019 7:58pm
Howdie Traders - which from your own honest experiences would be the best broker for Canadians - Perhaps ECN type but one that offers as high as leverage as possible if any. I generally prefer 400:1 leverage and above but I don't know if any Canadian brokers would offer that much, well just asking; If not well the only option would be to go with Aussie brokers but I hard that they too are beginning to stop accepting clients that is not based in Australia etc.; oh man, any feedback would be greatly appreciated - Happy trading guy.
  • #225
  • Aug 7, 2019 1:57am Aug 7, 2019 1:57am
Quoting Trainman
{quote} I've traded with duka. They are tops for security of funds. Their primary client software is JForex. They sometimes grudgingly offer MT4, but I suspect they don't actually process those trades themselves, they just send that volume over to someone else. Here is a brief review of things I love and don't love about JForex. Love Magnificent charts. Makes MT4 look like a leftover from the '90s. If you want 27-minute bars, it can do it. If you want 4-tick candles, it can do it. Point and figure no problem. Order book visibility is built in (its...
How long have you used duka so far?
  • #226
  • Aug 7, 2019 4:38pm Aug 7, 2019 4:38pm
Hi Guys
For those of you that are looking for a Great Broker, take a look at Tradeview. They been around since 2004, Regulated, ECN STP., Swap Free, 400:1 leverage and lots more. I've used them for years. They're excellent never had a problem with them. My rep Mike great guy, whenever I need to talk to him never had a problem getting a hold of him. Anyway hope that helps.
Gp
Nobody ever went broke closing a trade in profit
  • #227
  • Aug 7, 2019 8:45pm Aug 7, 2019 8:45pm
Quoting MoreYummy
{quote} How long have you used duka so far?
around 4 years
Sure I have a trading plan. Buy low. Sell high. What's yours?
  • #228
  • Aug 8, 2019 4:35am Aug 8, 2019 4:35am
Turnkey forex is another way to go, Spreads are tight and commission is just $2 RT. And moreover they accept Canadian citizens.
  • #229
  • Aug 8, 2019 9:11am Aug 8, 2019 9:11am
Quoting charles23
Turnkey forex is another way to go, Spreads are tight and commission is just $2 RT. And moreover they accept Canadian citizens.
I would be careful if I were you because the firm is located in the Mauritius island and there isn't any account protection in case of bankruptcy. If you want account protection use a Canadian broker that is a member of CIPF
Attached Image (click to enlarge)
Click to Enlarge Name: CIPF Protection.png Size: 30 KB
  • #230
  • Aug 8, 2019 12:47pm Aug 8, 2019 12:47pm
Quoting gp00053
Hi Guys For those of you that are looking for a Great Broker, take a look at Tradeview. They been around since 2004, Regulated, ECN STP., Swap Free, 400:1 leverage and lots more. I've used them for years. They're excellent never had a problem with them. My rep Mike great guy, whenever I need to talk to him never had a problem getting a hold of him. Anyway hope that helps. Gp
Tradingview is which one? What's their website?
  • #231
  • Aug 8, 2019 1:14pm Aug 8, 2019 1:14pm
Quoting MoreYummy
{quote} Tradingview is which one? What's their website?
https://www.tradeviewforex.com
Nobody ever went broke closing a trade in profit
  • #232
  • Aug 9, 2019 4:22am Aug 9, 2019 4:22am
Quoting Hutch
{quote} I would be careful if I were you because the firm is located in the Mauritius island and there isn't any account protection in case of bankruptcy. If you want account protection use a Canadian broker that is a member of CIPF {image}
Yes, you are right I always keep my guard up. But, I have been trading with for almost a year now and didn’t face any serious problem, I know choosing them or as the matter of fact any offshore broker is a difficult and trusting them even more, but you know some of them are genuine out which they are. They have gained my trust over time because of their honesty to me and obviously, the trading services offered.
  • #233
  • Aug 21, 2019 11:55am Aug 21, 2019 11:55am
I’ve been using this same broker (Turnkeyforex), close to 2 years. Nothing shady in my accounts so far. Though location moved from UK to Mauritius, probably due to restriction in regulations. But account manager kept me in good hands. They are good one.
  • #234
  • Sep 3, 2019 3:20am Sep 3, 2019 3:20am
Quoting Hutch
{quote} I would be careful if I were you because the firm is located in the Mauritius island and there isn't any account protection in case of bankruptcy. If you want account protection use a Canadian broker that is a member of CIPF {image}
Only problem with Canadian brokers, is dealing with the worst leverage rates in the world. You already need to be borderline rich to get rich trading FX in Canada. They even lie about the definition of a standard lot just to seem comparable to the rest of the world. For people with smaller accounts, FXPig and Dukascopy are still decent choices. If you have $250k and want to make $5k per month, then yes, going with a Canadian broker that's protected under the CIPF is your best choice, in terms of security of your funds. If you have $5k and want to build it up over the years, stay away from Canadian brokers.
  • #235
  • Sep 3, 2019 3:25am Sep 3, 2019 3:25am
Quoting Victory9
I’ve been using this same broker (Turnkeyforex), close to 2 years. Nothing shady in my accounts so far. Though location moved from UK to Mauritius, probably due to restriction in regulations. But account manager kept me in good hands. They are good one.
I was looking at Global Prime for a while. Then I guess the ASIC got even more strict, and they had to open a subsidiary in Vanuatu, where my current broker (FxPig) is located, because they stopped taking retail traders from Canada. It was a bit hit and miss with Australian brokers for a bit, but it seems the regulators are clamping down on that region now too.
  • #236
  • Sep 5, 2019 10:33am Sep 5, 2019 10:33am
Quoting 4xNewGuy
{quote} I was looking at Global Prime for a while. Then I guess the ASIC got even more strict, and they had to open a subsidiary in Vanuatu, where my current broker (FxPig) is located, because they stopped taking retail traders from Canada. It was a bit hit and miss with Australian brokers for a bit, but it seems the regulators are clamping down on that region now too.
I can only conclude that ASIC restrict access to citizens of countries that produce successful traders. Shame on ASIC
  • #237
  • Edited 2:16pm Sep 10, 2019 1:59pm | Edited 2:16pm
Can anyone recommend a tested broker with good spreads and commission? I'm looking at "turnkeyforex" but am a little reticent to join. First off they only accept BTC, so if I give it, and they steal it, it's gone. However, I've read some good reviews and their spreads/commission is the best I've seen.

Pretty much, afaik the brokers with good spreads and commissions are unregulated. Anyone use unregulated brokers with cheap commissions? Too dangerous or is it feasible? Any experience with turnkeyforex?

Btw, I'm new to this website and from Toronto. So hello boys. Hockey season is about to start. Go Leafs Go! (ducks for cover)
  • #238
  • Sep 13, 2019 5:48am Sep 13, 2019 5:48am
Quoting Grish
Can anyone recommend a tested broker with good spreads and commission? I'm looking at "turnkeyforex" but am a little reticent to join. First off they only accept BTC, so if I give it, and they steal it, it's gone. However, I've read some good reviews and their spreads/commission is the best I've seen. Pretty much, afaik the brokers with good spreads and commissions are unregulated. Anyone use unregulated brokers with cheap commissions? Too dangerous or is it feasible? Any experience with turnkeyforex? Btw, I'm new to this website and from Toronto....
I am using turnkey forex for quite a long time and I can say whatever you heard or read about them is true, their spreads are actually good and commission charges are lowest than most of the other brokers around $2/100k RT.
And yes they offer deposit/withdrawals via cryptos only and I don’t think it make them suspicious as there are many other brokers that support cryptos in fact it make the deposit/withdrawal process faster.
  • #239
  • Sep 15, 2019 10:37pm Sep 15, 2019 10:37pm
https://forums.babypips.com/t/a-list...sidents/221305
  • #240
  • Oct 14, 2019 7:09am Oct 14, 2019 7:09am
Quoting clemmo17
https://forums.babypips.com/t/a-list...sidents/221305
Coinexx is worth on the list. I have several accounts with them and I recommend them better than others brokers I’ve experienced with. Besides, not only me, many professional traders trust them, you see for yourself here: https://forums.babypips.com/t/going-...the-cftc/35612 and https://forums.babypips.com/t/list-o...rencies/158023
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