Oanda wants Current Net Worth/Employment Update, WTF?

Quoting forexdude1

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IIROC is slowly sticking their nose into overseas brokers with their Memorandums of Understanding. Slowly, these brokers are preventing Canadians from trading with their brokerage. Just as the CFTC has done with their US residents.

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Quoting Jack_Larkin

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Could you please give examples?

So far it's just the local regulators who have been doing this kinda thing.. not on a National level. What pressures has IIROC put on other overseas brokers?

All agreements I'm aware of are with US based brokers, and most of it deals with securities and investments.

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Quoting forexdude1

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I have/had an account with IBFX Australia. They no longer accept Canadian residents and to boot they have lowered my leverage 10:1.

All you have to do is read their Memorandum of Understanding with the various countries. I am sure more will be added to the list as time goes by.

As for IIROC up above.....my brain is quicker than my fingers. It is not IIROC it is the provincial securities going into memorandums of understanding. *I should really proof read my posts before actually posting them*


* Remember Google is your friend*

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Quoting forexdude1

Disliked

I have/had an account with IBFX Australia. They no longer accept Canadian residents and to boot they have lowered my leverage 10:1.

All you have to do is read their Memorandum of Understanding with the various countries. I am sure more will be added to the list as time goes by.

As for IIROC up above.....my brain is quicker than my fingers. It is not IIROC it is the provincial securities going into memorandums of understanding. *I should really proof read my posts before actually posting them*


* Remember Google is your friend*

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Quoting Jack_Larkin

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Exactly, IIROC is national, and they can't impose this sorta thing if it steps on the provincial regulator's shoes.

I ask because the statement about IIROC alarmed me, as an Ontario resident, since no local regulator to myself has imposed such things and IIROC shouldn't have the ability to impose anything on companies that operate outside of their membership.

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