Jack, Thanks for reminding me of one your earlier posts. 1. So, given your deep expertise judging from detailed posts, what 'good' brokers do Canadians have access to, with 50:1 or more leverage? Seems like the Can FXCM partner (Friedberg) really limits to 1:30 or less, citing Ontario regs. 2. And any comments on MT4 vs other trading platforms? Regards, Athar. {quote}
http://forums.babypips.com/forextown...tml#post491453
Basically, we have access to firms from all over the world, with the exception of some US firms that do not have a Canadian office (there's a few cross border agreements in place so the US is special.)
While IIROC and the OSC will say all sorts of negative things about using overseas brokers, in the end, there's nothing legally stopping an Ontario resident from using a broker from other parts of the world (and subsequently avoid the restrictive trading conditions of IIROC regulated brokers in Canada.) Of course, if you go overseas, you can no longer turn to IIROC or the OSC for help should you encounter a problem with the broker, so as the post I made on Babypips suggests, you gotta stick to well regulated parts of the world to compensate.
It's unfortunate that LMAX chose not to do business with Canadians, and despite emailing them several times about it I could only get an apology but no reason why... their last message to me even said they weren't at liberty to talk about why not, just that they cant. But it's their loss in the end, since again (at least in Ontario's case) there's nothing legally stopping you from trading with UK firms.
Anyway, more details in that link. Hope it helps.
--
2) MT4 might be aging (understatement of the year) but MetaQuotes has been updating it a lot lately and giving it a little new life. It suits most people well enough, even more advanced users who rely on self-written automated / scripted trading are usually happy with MT4. Though, there are some limitations it imposes.. but you won't likely hit them unless you're doing some pretty complicated programming.
The problem is, most brokers use MT4 since that's what most customers ask for, and MT4 means using MT4 Server, and that makes adding on alternative platforms kinda hard for brokers. So there isn't as much choice as I'd like to see these days.
FXGears.com
