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Best Broker for Canadians from Alberta

  • #101
  • May 27, 2015 2:13pm May 27, 2015 2:13pm
Quoting mry2001
{quote} I live in Ontario and my main broker is ICMarkets. Last Friday I was pissed by the slippage and searched for brokers again. It seems that slippage is the worst on Friday. If this is the case, I am going to modify my EA on Friday to combat slippage. To Avoid trading on Friday may also be a good idea. I looked through the list briefly and have to admit none of them are as good as ICMarkets. Some of the brokers mentioned look like scams and their web sites are lousy. The bottom half are major market maker brokers which only allow 33:1 leverage....
I am in Ontario and with ICMarkets as well. What kind of account you have with them? Mine is True ECN cTrader. I was able to trade news with no problems. However, I noticed that sometime their server freeze for few seconds, sometimes gap between ticks is too big for my taste, but so far nothing criminal.
  • #102
  • May 27, 2015 2:44pm May 27, 2015 2:44pm
Quoting MZen
{quote} I am in Ontario and with ICMarkets as well. What kind of account you have with them? Mine is True ECN cTrader. I was able to trade news with no problems. However, I noticed that sometime their server freeze for few seconds, sometimes gap between ticks is too big for my taste, but so far nothing criminal.
I have an ecn mt4 account. the problem is 30-40 pips slippage on buystop/sellstop orders. I have got 3 times stop loss in last month or so due to slippage. It happened during normal market conditions when there is no news. One of my orders was filled at 30 pips above the price on the chart. I have decided to leave. Most of the "true ECN broker" that offer 400-500:1 margin are criminals that allure aggressive and naive retail traders who want to be rich fast imo. True ECN can not allow that kind of leverage. My previous broker, forex.com never feed me huge slippage but their margin is low and spread is high so I decided to leave. ICMarkets make you think that they are a good deal but in reality they are not. For example, forex.com does not charge swap on xausud but ICMarkets does. The only advantage is low spread which is required by my new strategy and that is why I opened an account with them. But that is useless when the 30-40 slippage cost more stop loss when there should not be.
  • #103
  • May 27, 2015 4:03pm May 27, 2015 4:03pm
Quoting mry2001
{quote} I have an ecn mt4 account. the problem is 30-40 pips slippage on buystop/sellstop orders. I have got 3 times stop loss in last month or so due to slippage. It happened during normal market conditions when there is no news. One of my orders was filled at 30 pips above the price on the chart. I have decided to leave. Most of the "true ECN broker" that offer 400-500:1 margin are criminals that allure aggressive and naive retail traders who want to be rich fast imo. True ECN can not allow that kind of leverage. My previous broker, forex.com...
That is a lot of pips they are having on your orders. Never experienced anything like that. Should watch it closely. Could it be a problem with stop orders?
I have noticed disproportionally late filing of my stop order from News robot, but it was only once. I trade mostly manually and market orders executed reasonably well.
What would be your choice of broker? I like cTrader/cAlgo it is far superior of MT4 in case of programming capabilities and I like high leverage as well.
  • #104
  • May 27, 2015 5:11pm May 27, 2015 5:11pm
Quoting MZen
{quote} That is a lot of pips they are having on your orders. Never experienced anything like that. Should watch it closely. Could it be a problem with stop orders? I have noticed disproportionally late filing of my stop order from News robot, but it was only once. I trade mostly manually and market orders executed reasonably well. What would be your choice of broker? I like cTrader/cAlgo it is far superior of MT4 in case of programming capabilities and I like high leverage as well.
I sent docs to atcbrokers a few hours ago and they have already approved my account. Looks good so far. Now just wait to transfer funds. the leverage is 100:1 I read the reviews here and forexpeacearmy. most people are very satisfied with atc.

I like to try ctrader when my EA is converted to cAlgo. There is free service that convert mt4 to c# but I have not try that yet. I do have a cTrader account with ICmarkets. The concern is still slippage on buystop/sellstop orders.

The only bad thing with atcbrokers is there is no free VPS. With ICMarkets VPS is free if You tarde 100+ lots a month.
  • #105
  • May 27, 2015 5:53pm May 27, 2015 5:53pm
Quoting mry2001
{quote} I sent docs to atcbrokers a few hours ago and they have already approved my account. Looks good so far. Now just wait to transfer funds. the leverage is 100:1 I read the reviews here and forexpeacearmy. most people are very satisfied with atc. I like to try ctrader when my EA is converted to cAlgo. There is free service that convert mt4 to c# but I have not try that yet. I do have a cTrader account with ICmarkets. The concern is still slippage on buystop/sellstop orders. The only bad thing with atcbrokers is there is no free VPS. With ICMarkets...
Well ... they ask for $50,000 account to get access to cAlgo. Will wait until I get such balance. On positive side they allow futures trading on indices.

In terms of programming I am not going back to MT. Not worth it.
  • #106
  • May 31, 2015 10:38am May 31, 2015 10:38am
Due to some very unpleasant activity on the ICMarkets side, like freezing quotes, I have decided to search for the new broker.
Already opened accounts with two of them - Invast AU and FXPro. Both offer cTrader and are tolerant to scalping.
Have compared quotes from ICMarkets and Invast. Invast has enormous spread in comparison to ICMarkets. They both use NY 2 server, so in terms of feed quality they should be the same, I assume.
FXPro opened my account almost immediately. I like they offer news feed and Squawk, unlike ICMarkets and Invast. Also their server is in London. Ping is 50 ms, not 15 like NY, but from my experience with Alpari UK it should not be a big deal. ICMarkets, even with NY server could provide only 350 - 600 ms order execution time, few times even more than a second, which is too much for me and not as good as was Alpari. Will see how FXPro does.
I am in Canada, Ontario.
  • #107
  • May 31, 2015 7:48pm May 31, 2015 7:48pm
Quoting MZen
Due to some very unpleasant activity on the ICMarkets side, like freezing quotes, I have decided to search for the new broker. Already opened accounts with two of them - Invast AU and FXPro. Both offer cTrader and are tolerant to scalping. Have compared quotes from ICMarkets and Invast. Invast has enormous spread in comparison to ICMarkets. They both use NY 2 server, so in terms of feed quality they should be the same, I assume. FXPro opened my account almost immediately. I like they offer news feed and Squawk, unlike ICMarkets and Invast. Also...
Spreads are determined on size.
You may have 1 broker quoting in 1 million and the other quoting in 10k
Just ensure you are comparing the same here.
I know Invast offer NY4 and LD4 so pick what works best for you.
  • #108
  • Jun 1, 2015 8:08am Jun 1, 2015 8:08am
I had a Demo with Invast cTrader platform and liked it, so I opened a live account. I had price highs and lows of various trading sessions marked on the chart already from the Demo account. When I switched to live account which came from a different proxy I noticed the chart was a bit different.

eg. the low on GBPNZD during Europe session 29th May
Demo - Proxy Sydney-5 is 2.13833
Live - Proxy Sydney-6 is 2.12883 due to a long wick

95 pips difference?

Looking at FF chart and that wick isn't there. I wasn't in a trade at the time but if I was and that wick stopped me out I'd be disappointed.
  • #109
  • Jun 1, 2015 9:32am Jun 1, 2015 9:32am
This might be a solution for serious traders looking for access to LMAX exchange
http://fxmtf.com/trading/live-account/
min deposit is $1000, you can trade from web platform or invest into MultiCharts.

Of course they do not accept Canadians (and a bunch of other countries, like Albania or Haiti, so Canada is in nice company), yet why don't Canadians go to Barbados and open trading corporation. By the way dividends transferred from Barbados to parent Canadian company are tax free in Canada! This way you can open account with any broker, I guess.
  • #110
  • Jun 7, 2015 1:11pm Jun 7, 2015 1:11pm
Quoting xtrader101
{quote} If you use your common sense, you will never open an account with them. If you live in Alberta like me, here are your choices. 1. Global Prime 2. IC Markets 3. Pepperstone 4. Tickmill (If regulation is your top priority skip this, the first three will be enough) I have accounts with all four brokers above. Cheers, FxTurtle
the brokers u mentioned are among the worst. lol stay away from all of them. u have been warned. if they r not scams, then must be close
  • #111
  • Jun 7, 2015 1:38pm Jun 7, 2015 1:38pm
Quoting mry2001
{quote} the brokers u mentioned are among the worst. lol stay away from all of them. u have been warned. if they r not scams, then must be close
you r very funny.
Fear prevent possibilities, and so does Greed
  • #112
  • Jun 7, 2015 3:08pm Jun 7, 2015 3:08pm
Quoting xtrader101
{quote} you r very funny.
not funny at all. I have live accounts with all 3 Australian brokers and found them guilty. it is better to stay away from. these butcher shops with 30-50 employees. they r Really Really hungry.
  • #113
  • Jun 7, 2015 4:52pm Jun 7, 2015 4:52pm
Quoting mry2001
{quote} not funny at all. I have live accounts with all 3 Australian brokers and found them guilty. it is better to stay away from. these butcher shops with 30-50 employees. they r Really Really hungry.
I have been trading with them over 3 years and don't find any problems. So to me, you are very funny.

I think you are the problem and you dont take responsibility, but instead put the blame on the brokers. Always the case.
Fear prevent possibilities, and so does Greed
  • #114
  • Jun 7, 2015 5:52pm Jun 7, 2015 5:52pm
Quoting xtrader101
{quote} I have been trading with them over 3 years and don't find any problems. So to me, you are very funny. I think you are the problem and you dont take responsibility, but instead put the blame on the brokers. Always the case.
wow, 3 years u donot find any problems. u must be dumb.I found lots problems. for example, when I transfer fund, they change it to aud and then change it back to usd. I lost the difference between the exchange rates of course. mamy other problems
  • #115
  • Jun 9, 2015 7:07am Jun 9, 2015 7:07am
Quoting xtrader101
{quote} I have been trading with them over 3 years and don't find any problems. So to me, you are very funny. I think you are the problem and you dont take responsibility, but instead put the blame on the brokers. Always the case.
I admit global prime is a very good broker. One of the slippage was their fault but I got refund. I am going to stay with global prime. It is not true that brokers do not manipulate there are many scam brokers. I have seen brokers cancel profit or reject withdraw etc.
  • #116
  • Jun 9, 2015 3:46pm Jun 9, 2015 3:46pm
Quoting mry2001
{quote} wow, 3 years u donot find any problems. u must be dumb.I found lots problems. for example, when I transfer fund, they change it to aud and then change it back to usd. I lost the difference between the exchange rates of course. mamy other problems
Simply not true. I have accounts with both Global Prime and IC Markets and get the exact amount in USD that I wire (no deductions whatsoever). Both are true ECN and it shows with super fast execution, very low slippage even under extreme volatility and low spreads that don't widen much during news releases. FYI both are members of FOS and client funds are segregated in Westpac and NAB. I've never had any support issue with either and especially with Global Prime where Jeremy is simply outstanding. For example, soon after I opened my account with Global Prime, I signed up for a signal that required a leverage of 200:1 (I had 100:1). So I emailed Jeremy and he promptly sent me a questionnaire that I filled and mailed back. My leverage was upgraded immediately. The whole process took less than 15 minutes. If this isn't a great broker, I don't know what is. But hey do your own due diligence.
The trader IS the holy grail.
  • #117
  • Jun 9, 2015 6:21pm Jun 9, 2015 6:21pm
HI All,
when trading using Ctrader, the execution is done in UK. It doesn't matter where your broker server is which is for Mt4.
For manual trading, nobody will use Mt4 once you get the taste of ctrader. But due to the technology difference between the platforms, there are tick differences. Last year when I use cAlgo robot, there was a serious bug in ctrader that causes my robot to close trade prematurely(i.e. I had 10 lots opened but the robot return 30 lots !, so that means your profit/loss is compounded 3 times). I emailed spotware and they fixed it within hours but who do you complain about the losses? the broker or spotware? anyway I have since converted my robot to mt4.

Mt4 EA requires less memory and Robot (or any technology that Microsoft produce) requires huge Ram and CPU.

I don't think brokers that you mention above intentionally (with Mt4) create spikes etc. I believe the MT4 technology is showing its age. If there is a price spike and hit your take profit, would you complain and give up the profit? But if it hit your SL, you and I will lodge a complain immediately.

For automated trading the number of ticks is important, I demoed 2 brokers, the one with larger spread opens more orders than the one with tighter spread simply because EA/Robots rely on price ticks.

Broker can simply filter spikes but most brokers are not technology savvy . The smaller brokers provide better service like some mentioned above and will carry out proper investigation. Larger brokers are overwhelmed by flood of complains when spike/gap happens.
  • #118
  • Jun 9, 2015 8:22pm Jun 9, 2015 8:22pm
Quoting taru
{quote} Simply not true. I have accounts with both Global Prime and IC Markets and get the exact amount in USD that I wire (no deductions whatsoever). Both are true ECN and it shows with super fast execution, very low slippage even under extreme volatility and low spreads that don't widen much during news releases. FYI both are members of FOS and client funds are segregated in Westpac and NAB. I've never had any support issue with either and especially with Global Prime where Jeremy is simply outstanding. For example, soon after I opened my account...
Thanks for your reply. I agree global prime is a very good broker. It is not true slippage at ICmarkets is very low. it is actually notorious high. support from ICMarkets is aslo bad. good luck. I have found enough brokers for my EA so I am going to leave this forum. bye bye.
  • #119
  • Jul 15, 2015 12:37am Jul 15, 2015 12:37am
Ok, so Oanda asks as documents a letter of confirmation from the bank as attestation for you, an ID, and proof of address. So if you produce your passport, which doesn't have an address, and then change in your online banking you address to an address in another province and then print a bank statement, would that work to open an account from Alberta you guys think? Have anybody tried this before?
  • #120
  • Edited 10:58am Jul 18, 2015 8:45am | Edited 10:58am
i haven't. i think that they required an accredited investor confirmation and that was the main problem for me. of course you can lie to them but if you are successful and your account really growes, at some point you may have to talk to cra and then nobody knows what happens as they will pull out everything. would you risk all your money because of that? i don't really care about oanda any more, they are just one of many brokers.
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