Recommended Brokers for Canadians

Any thoughts on Ava Trade for Canadian residents? An feedback is highly appreciated.

Pacific Union Prime looks like the replacement for VantageFX

see my post here:
https://www.forexfactory.com/thread/...7#post13196397

found that info on reddit

Was about to open an account with Fusion Market and since September 24th they do not accept Ontario residence. I believe they allow other Canadians. Really sucks as they were the perfect fit and now my only real option is Oanda but they have varying leverage on EACH pair so you need to calculate MM for each pair! Checking out puprime.com has no reviews or anything else

Any experience with CMC markets ?

Thanks

I have reviewed oanda and cmc... and their leverage is about 1:50... and monstrous spreads..... i need 1:500 to do roller coaster trading.... i have been icmarkets, vantagefx etc user before they kicked me. Now i am going with unregulated one which is tradersway.... ontario govt is making harder n harder for forex traders.... rest of canadians can go with fpmarkets

1. Pacific Union Prime looks like a perfect replacement, but a little too perfect. I uploaded my application and it got denied because they needed my driver's license number and passport number. I contacted the customer service chat and they told me:

Customer service 04:44:14
are you still available here
04:44:23
yes
Customer service 04:45:18
the passport ID, could you resent it again ? because we need the full images of it
Customer service 04:45:31
Customer service 04:45:46
as these are also important to us
Customer service 04:46:04
and your driving license as well
Customer service 04:46:40
that's the reasons that is why your request was rejected
04:49:35
What if you do not feel comfortable completely revealing all the sensitive information not asked before uploading the documents? I understand a proof of address from a government-issued ID which is what is visible in both of my documents.
Customer service 04:51:23
I'm sorry to hear that but we can't do anything if you feel uncomfortable revealing the sensitive information and it will not be able to opened an account unless you given the full image of it.
04:54:35
Okay, why are the driver's license and passport numbers needed to confirm my address
?
Customer service 04:57:23
we need to make sure that those information because we need to know it is the person who is using the account and not any other third party.
Customer service 04:58:54
and also unsure that the person does not have any criminal records
Customer service 04:59:15
are you still available here ?
04:59:29
yes I am available
Customer service 04:59:52
Is there anything else that we can help with you?
05:00:01
yes one moment

I guess I will be hearing from their account manager and I will be taking a look into them more to make sure they aren't super sketch. I would appreciate some help because they seem like the last people to give some sort of light at the tunnel without going completely offshore and dealing with all that added crap

They are new... i am not comfortable with new ones... as for tradersway in business since 2009 and i do my due diligence before going with any new broker... so for me till now its good... i used bitcoin for deposit using my coinbase account.. fast deposit and i tried withdrawal thru same and it was quick as welll....

1. 
   I hope that -$390 wasn't from a bad position and high leverage lol.... trying out Pacific Union Prime and so far theyre nice, super tight spread no commission. Ill let you guys know how it goes once i try to withdraw lol

sure let me know.... aaah thats nothing... i am just warming up with small accounts as i am coming from 3-4 months of complete no trading vacation... already blown 3-4 micro accounts i guess... if you see my history i tend to go 1000-2000 into 50000 in 3-4 weeks in casino style...I have done it multiple times with vantage on live TE...you can check my previous screenshots..... I am not bragging just letting you know it has nothing to do with the broker..... Only issue with tradersway they won't provide INdices... People say they are just bucketshop nobody cares.... If you makiing right calls they cannot stop you from winning.....

1. no worries Im starting with a micro account and i realized it can all go away the next day, ill let you know how this new broker goes, cant wait to flip the account

Hello,

who knows Axion Trade?
I want to hear real reviews

As mentioned above, VantageFX just closed all accounts for Canadian traders. I am reviewing some of the brokers suggested above.

I honestly don't understand why traders want to trade with overseas brokers. I have been trading with Oanda for 15 years and had only a few minor problems. Best for me is the $1M guarantee in case it goes bust. I can only say that grass is not greener on the other side of the fence

Your best bet is to find an ASIC reg broker that also has an offshore license, and then on board there. They have the same protection for the offshore business but that's where they will accept Canadian clients. You will also get access to full leverage so it's best of both worlds, not for everyone though who doesn't rate offshore, can be controversial.

Sorry but ASIC brokers will lose their edge starting 29 March.

Upcoming ASIC changes and how they affect you

ASIC has announced that their product intervention order in relation to Contracts for Difference will be implemented industry-wide from 29 March 2021.

These changes will affect the way, the products and services that brokers is offering to its retail clients.
When do the changes begin?
There is no immediate impact on your trading account. The changes will take effect on 29 March 2021.
What is the impact of these changes to retail clients?

1. Restricted leverage. Here is a table that shows the new maximum leverage levels for retail clients.

Markets
Current maximum leverage New maximum leverage for retail clients
Major Forex
1:500 1:30
Minor Forex
1:500 1:20
Major Indices
1:200 1:20
Gold
1:500 1:20
Commodities
1:100 1:10
Shares
1:20 1:5
Cryptos
1:5 1:2

1. Standard margin close-out arrangements that act as a circuit breaker to close-out one or more CFD positions before all or most of the client's investment is lost.
2. Protection against negative account balances by limiting CFD losses to the funds in their CFD trading account, and
3. Prohibition on giving or offering certain inducements to retail clients.

Who are affected by the changes?
Only retail investors are affected by the changes.

I'm surprise no one has mentioned FP-Markets yet. They're an MT4/5 ECN broker that's popular with Canadians, in part because they support CAD as an account base currency.


Source:
https://trustedbrokers.com/ca/fpmarkets

hello how can i add another trading account on my page over FF. thank you

they don't accept Ontario clients..... otherwise i already mentioned pretty much similar to icmarkets trading conditions....which is one of the best in the industry......

You're right. It accepts Canadian traders (except those living in Ontario or British Colombia). Thank you for the reminder!

Onada Is the best broker for Canadian traders with its great trading conditions.