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Brokers for Canadians?

  • #301
  • Aug 15, 2020 1:56pm Aug 15, 2020 1:56pm
As mentionned previously, oanda canada and questrade are 2 good logic choices for canadians. I have an account with both of them.

For people with the need for more leverage, look at dukascopy bank (not dukascopy regular). They accept canadian and money is proctect by the swiss government up to 100k$. I traded with them a couple years ago when i was in the begining of my capital build-up. I needed more leverage at that time.
You got to strike when the moment is right without thinking
  • #302
  • Sep 11, 2020 9:32am Sep 11, 2020 9:32am
Did anyone else get this?

In continuation of our recent decision to stop onboarding new applicants residing in Canada, unfortunately Vantage FX has extended the decision to cease providing services to its existing clients residing in Canada.

What does this mean to you? While the decision has been made after careful considerations, we regret to inform you that Vantage FX will no longer be able to offer its services to clients residing in Canada. W

What should I do next? We advise our existing clients residing in Canada with open positions in their trading account(s) to close any existing positions, and arrange for their funds to be transferred to their nominated bank account on or before November 30th, 2020. Any positions remaining open by market close on November 30th 2020, will be forced-closed.

You may request to withdraw any remaining funds from your trading account by submitting a withdrawal request via your secure client portal. Our support and back-office staff will continue to provide the highest standards of services to ensure you experience a seamless transition while we bid farewell to you. Please do not hesitate to contact our customer support at [email protected] should you require any further assistance.

Kind regards,

Vantage FX
  • #303
  • Sep 11, 2020 10:01am Sep 11, 2020 10:01am
Got an email from VantageFX,
In continuation of our recent decision to stop onboarding new applicants residing in Canada, unfortunately Vantage FX has extended the decision to cease providing services to its existing clients residing in Canada
  • #304
  • Sep 11, 2020 10:02am Sep 11, 2020 10:02am
Do you have any other suggestions in regards to Brokers for folks from Ontario, Canada. I find the spread is not good with Oanda. VantageFX provided tight spreads. And as well leverage of 1:500
  • #305
  • Sep 12, 2020 5:18am Sep 12, 2020 5:18am
cmc markets, fpmarkets, tickmill, forex.com, saxo bank.
  • #306
  • Sep 14, 2020 6:17am Sep 14, 2020 6:17am
FP Markets - does not accept clients from Ontario, Canada
  • #307
  • Sep 14, 2020 6:21am Sep 14, 2020 6:21am
tickmill does not accept clients from Ontario, Canada
  • #308
  • Sep 14, 2020 6:30am Sep 14, 2020 6:30am
Quoting samdej
tickmill does not accept clients from Ontario, Canada
Hi, sorry for my unethical reaction, but, what the f*ck is wrong with Ontario that brokers don't accept clients?
  • #309
  • Sep 14, 2020 6:35am Sep 14, 2020 6:35am
Quoting samdej
Do you have any other suggestions in regards to Brokers for folks from Ontario, Canada. I find the spread is not good with Oanda. VantageFX provided tight spreads. And as well leverage of 1:500
Yeah I'm in the same boat. Not happy about losing VantageFx
Green pips to all
  • #310
  • Sep 14, 2020 6:36am Sep 14, 2020 6:36am
Quoting symona
Did anyone else get this? In continuation of our recent decision to stop onboarding new applicants residing in Canada, unfortunately Vantage FX has extended the decision to cease providing services to its existing clients residing in Canada. What does this mean to you? While the decision has been made after careful considerations, we regret to inform you that Vantage FX will no longer be able to offer its services to clients residing in Canada. W What should I do next? We advise our existing clients residing in Canada with open positions in their...
I got this too
Green pips to all
  • #311
  • Sep 14, 2020 7:55am Sep 14, 2020 7:55am
Quoting fuadik88
{quote} Hi, sorry for my unethical reaction, but, what the f*ck is wrong with Ontario that brokers don't accept clients?
Regulations. Ontario, BC, and Quebec all have their own regulatory bodies on top of the national IIROC. Ontario is especially a pain in the ass, and due to that all these brokers have been writing off Canada as a whole.

What started most of this was changes in ASIC regulations in Australia which made dealing with all foreign countries impractical (i.e. Global, and Vantage was actually just a subsidary of Global, that's why they pushed people to the Cayman's first).

So, as an offshore broker to deal with all these new regulations and issues, and considering that most long term traders don't keep much money or volume in offshore brokers, just makes the math work out that it's not worth doing business with Canada.
To be one with the market, you must first be one with yourself.
  • #312
  • Sep 14, 2020 4:14pm Sep 14, 2020 4:14pm
Quoting Unforeseen
{quote} Regulations. Ontario, BC, and Quebec all have their own regulatory bodies on top of the national IIROC. Ontario is especially a pain in the ass, and due to that all these brokers have been writing off Canada as a whole. What started most of this was changes in ASIC regulations in Australia which made dealing with all foreign countries impractical (i.e. Global, and Vantage was actually just a subsidary of Global, that's why they pushed people to the Cayman's first). So, as an offshore broker to deal with all these new regulations and issues,...
Looks like your Ontario regulator is just like the NFA and CFTC "protecting" traders ... oops preventing traders from making profit
  • #313
  • Oct 2, 2020 6:40pm Oct 2, 2020 6:40pm
found this on reddit: https://www.reddit.com/r/Forex/comme...x_or_canadian/

Quote
As you likely already know, VantageFX will no longer service Canadians residents as of Nov 30th.
I've just found out that after a round of vetting potential alternative brokers, VantageFX's management team have landed on a broker to help service their Canadian clients going forward.
On that note, I've updated the wiki to include Pacific Union Prime - https://puprime.com:
Subreddit's...

canadians who were with vantagefx now have a new broker to use after vantage left canada

i was looking for a new broker after vantage left, and will be trying these guys out
  • #314
  • Oct 4, 2020 1:57am Oct 4, 2020 1:57am
After countless hours of researching ... i have narrowed down tradersway..... Going to deposit money there n see how it goes
Extreme gut feeling trader
  • #315
  • Oct 25, 2020 5:51am Oct 25, 2020 5:51am
The only real solution is that retail traders need to find ways to leave this country instead of looking for different brokers each time their broker stops dealing with Canadian clients.
  • #316
  • Oct 25, 2020 7:43am Oct 25, 2020 7:43am
Quoting mohdhm
The only real solution is that retail traders need to find ways to leave this country instead of looking for different brokers each time their broker stops dealing with Canadian clients.

  1. This is definitely the only real way NOT to find better brokers

  • #317
  • Sep 3, 2021 6:27pm Sep 3, 2021 6:27pm
Sorry for the bump...

Forex.com are they any good? I was looking at their DMA access account, any fellow Canucks with any opinions?
  • #318
  • Sep 7, 2021 10:04pm Sep 7, 2021 10:04pm
Greetings from Canada, which is pretty much "No Man's Land" as far as online brokers are concerned.

Before I go through this whole thread, I think this explains it:

https://www.forexfactory.com/thread/...ce-to-be-an-fx?

Attachment g
That's no joke.

I first found out about this the hard way a few years ago. I was trading with GFT,
which was part of Gain Capital. They announced that they were ending their retail
forex platform for small fry like me.

Naturally, I started looking for another trader by email. To my surprise, OptionsXpress,
which came highly rated among users online, told me by email that they do not offer
their services to Canadian residents.

Neither did the next American broker I tried.

Or the next.

Or the one after that.

I was a bit appalled. I felt like this guy:

Attachment g
...until I discovered that article above from 2012 (!).

It seems that Canada's government mandarins have virtually obliterated a cottage industry
out of the need to protect me from myself.

I did move back to Canada and I did find a domestic broker with forex.com. I might as well
not have bothered; I couldn't make beans, even on good DIBS trades. On a modest balance
of $500 I could not wager $1/pip like I used to with GFT.

It seems the only way to make an exception is to open an offshore company and make
yourself into an employee of that company who just happens to work in Canada. But that
is ridiculous, and adds excessive fees just so I could stay in Canada and pay taxes to a system
which is trying to drive my favorite hobby out of the country.

It is maddening.
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #319
  • Sep 12, 2021 4:14pm Sep 12, 2021 4:14pm
Someone has put together a lot of information on this topic:

https://volatility.red/Forex_Brokers...dian_Residents
  • #320
  • Oct 2, 2021 12:07am Oct 2, 2021 12:07am
Quoting EastYork
Someone has put together a lot of information on this topic: https://volatility.red/Forex_Brokers...dian_Residents

Pacific Union is great for Canadians!
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