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Any suggestions on choosing brokers for Canadians 0 replies

Recommended Brokers for Canadians 242 replies

Brokers for Canadians 1 reply

Why are brokers ditching Canadians? 2 replies

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Brokers for Canadians?

Quoting GreatMe
{quote} Did you open the account with your Canadian details and withdraw to a Canadian accout?
vantagefx.com is the website you are referring to?
Valbury Capital is worth trying, great platforms like PATS - J Trader, PATS PRO - MARK, CQG TRADER, IRESS PRO etc
every beautiful garden has a strong hedge around
Quoting Trade-Master
Anyone Canadians used or has feedback on Axitrader ???
If you are a news trader or scalper you will lose money with them. After you make one or two profitable trades, their dealing desk will make you lose money with huge slippage and long "last look". It is not an ECN broker.
Another thing is that they don't accept Canadians anymore.
Quoting mike1985
im with axi for about a year and half, not much to complain about yet. under 24hr withdraws via wire had $300cad in their account with no activity for around 6 month - never pressured me to deposit more or trade more
Quite a weird post. Axi doesn't deal with Canadians.
Quoting zosoforever
{quote} Quite a weird post. Axi doesn't deal with Canadians.
Your information is completely wrong, I was with ICMarket before they refused canadian, switched to vantage and then switched to AxiTrader, which i've found very nice and smooth, orders are direct and never flood me in a pool of liquidity, never lost with them by those negative type of broker things. I think they are really near ICMarket in term of customer services and product, I have no negative issues.
Quoting BarberQc
{quote} Your information is completely wrong, I was with ICMarket before they refused canadian, switched to vantage and then switched to AxiTrader, which i've found very nice and smooth, orders are direct and never flood me in a pool of liquidity, never lost with them by those negative type of broker things. I think they are really near ICMarket in term of customer services and product, I have no negative issues.
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For me, from Ontario, information is not wrong at all. Let's agree that my information is partially wrong.

Would you be able to clarify
"orders are direct"
"never flood me in a pool of liquidity"
"never lost with them by those negative type of broker things"
I am sorry, I really don't understand what did you mean exactly.
Axi is a good broker, not much to pick on at the moment - news trading is not bad with them either

too bad Canada is continuing to limit forex trading, its a great business with correct education and experience im starting to like it more than stocks

some people end up moving due these non sense regulation
Quoting mike1985
Axi is a good broker, not much to pick on at the moment - news trading is not bad with them either too bad Canada is continuing to limit forex trading, its a great business with correct education and experience im starting to like it more than stocks some people end up moving due these non sense regulation
Believe me the Canadian regulations are better than those in the US. It's best to use Axi UK because you have an account protection of £85,000 in case Axi goes bust. I did move but from the US to Asia because of taxation issues. In the US forex profits are taxed as normal income. In Asia many countries don't tax forex profit
Quoting Hutch
{quote} Believe me the Canadian regulations are better than those in the US. It's best to use Axi UK because you have an account protection of £85,000 in case Axi goes bust. I did move but from the US to Asia because of taxation issues. In the US forex profits are taxed as normal income. In Asia many countries don't tax forex profit
lets be honest, if regulators were to take that loosing group of traders in forex and offer them a reasonable priced training before placing trades - not only would the regulators make $ from it but by just teaching them to apply correct risk control and placing stop losses would turn trading into any regular business with normal failing rate of 70% after 5-10 years. instead they're just slashing trading..

in canada they have this requirement that you have to have something like a million to trade - such baseless implication, a person starting with say $1000 can get funded in 6-12 months with good track record. How can someone enter the business with minim of million in assets :/

Axi survived the jan. 2015 black swan when many b booking brokers got hit, to be honest im not worried about them going out of business
Quoting mike1985
{quote} lets be honest, if regulators were to take that loosing group of traders in forex and offer them a reasonable priced training before placing trades - not only would the regulators make $ from it but by just teaching them to apply correct risk control and placing stop losses would turn trading into any regular business with normal failing rate of 70% after 5-10 years. instead they're just slashing trading.. in canada they have this requirement that you have to have something like a million to trade - such baseless implication, a person starting...
That one million figure is not true. It's $250k in annual income over 2 straight years, or a million in assets in Alberta. Each province regulates forex. I've done trading in Ontario with some $5k accounts, and have never had any problems. It's just for some reason Alberta went pants on head retarded with their policy on it. I'm guessing someone bet the barn, and lost big, so they cried a lot about it, so the politicians made some really dumb rules about it. You also have to be an accredited investor out there to do forex trading as well.

It would be nice to see some tiered leverage rates. Things like 200:1 for accounts that are <$10k. Then 100:1 up to $20k, and just keep lowering the leverage as the account grows in size. But that just makes too much sense.
Quoting Hutch
{quote} Believe me the Canadian regulations are better than those in the US. It's best to use Axi UK because you have an account protection of £85,000 in case Axi goes bust. I did move but from the US to Asia because of taxation issues. In the US forex profits are taxed as normal income. In Asia many countries don't tax forex profit
Sweet. Do you happen to know which Asian countries that would include?

I have seen a Canadian tax interpretation bulletin that says that gains on foreign exchange is taxed at half the normal rate. However, it's unclear to me if that rule applies to Forex trading or only to other businesses doing import/export and showing gain on forex as a side effect. Does anyone know?
Sure I have a trading plan. Buy low. Sell high. What's yours?
Has anyone looked into AMP Global for Canadians? I know they have operations in both US and Europe for Forex
Quoting ChopinTrader
Has anyone looked into AMP Global for Canadians? I know they have operations in both US and Europe for Forex
AMP Global accepts Canadians only on their US platform only but excluding residents of British Columbia.
Quoting Trainman
{quote} Sweet. Do you happen to know which Asian countries that would include? I have seen a Canadian tax interpretation bulletin that says that gains on foreign exchange is taxed at half the normal rate. However, it's unclear to me if that rule applies to Forex trading or only to other businesses doing import/export and showing gain on forex as a side effect. Does anyone know?
There is no capital gains tax in Hong Kong, Malaysia, New Zealand and Singapore. In Canada all net capital gains from trading financial products are taxed at 50% of the normal rate. Of course this depends on your average tax bracket. In the US if the financial asset is held less than one year it's taxed as normal income. I don't know any forex trader that kept a position opened for more than one year
Quoting 4xNewGuy
{quote} That one million figure is not true. It's $250k in annual income over 2 straight years, or a million in assets in Alberta. Each province regulates forex. I've done trading in Ontario with some $5k accounts, and have never had any problems. It's just for some reason Alberta went pants on head retarded with their policy on it. I'm guessing someone bet the barn, and lost big, so they cried a lot about it, so the politicians made some really dumb rules about it. You also have to be an accredited investor out there to do forex trading as well....
possibly the one mill requirement is a bit off, and 250k is still truly unreasonable for number of reasons - its not the income amount that makes a good forex trader. Think of it this way, if that same person who looses large was to be given a regular business with minimal experience in it, do the regulators really think he will have a high success rate? The trader lost most likely because they were reckless/ or unexperinced and this can relate to real life business just as it is with forex. There are times regular business have huge losses too. Many forex traders who get big start with loosing multiple small accounts. Also, many traders get large funds by producing a record with small live account so raising income requirement to trade forex is silly. The leverage defiantly does play a roll in amplifying loss/gain and 100;1 or 200;1 is more than enough but again if a trader increases their risk on a position its not the leverage thats at fault, thats the traders discipline. For me leverage just lets me have more positions open over different instruments but my risk per given trade is still the same
Currently signed up with Tradeview Forex. I'll be funding my account and trading soon so I'll keep you guys posted.
Quoting mnmnmmnnmnmn
Just for the hell of it, i tried alpari international. Believe it or not guys, us albertans are able to open up accounts with them quiet amazingly. i was quite happy at first, but our government made it impossible for canadian to fund your account. Talked to the online support, i was told that they cannot take credit card funding for any Canadian. Then when you click the bank wire, it doesnt take USD, only GBP. Then I asked about skrill, which is pretty much the last resort, and I did a bit research and found that skrill are banning canadian to...
I know this is a little old, but you can use a visa/debit card to fund skrill instantly. I just deposited a small amount to skrill the other day.. But, of course, you need actual money in your bank account to fund it. I haven't tried tried credit card deposits using visa/debit from my bank direct to broker yet, but I will try.
Anyone find a good Broker with ZERO or Close to ZERO spread? I'd rather pay a flat fee with zero spread for scalping.
Quoting Grish
Anyone find a good Broker with ZERO or Close to ZERO spread? I'd rather pay a flat fee with zero spread for scalping.
Thinkmarkets, icmarkets, globalprime, etc
Forex, stocks, energy and crypto
Quoting GreatMe
{quote} Thinkmarkets, icmarkets, globalprime, etc
Thinkmarkets
-have spreads
-not allow Canadians

icmarkets
-almost ZERO spreads, great!
-do not allow Canadians

globalprime
-have spreads

Anyone know of a broker with close to ZERO spreads that make their money through commissions AND allow Canadians? Looking to scalp so a ZERO spread is almost required.
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