Brokers for Canadians?

[nivom]

Hi there,

I am pretty sure that I am not the only one who's looking for a great solution to this. Many brokers out there has stopped carrying any more US or customers.

Yesterday I received the previous note email from Pepperstone stating their service into the Canadians will be ended in 3 months. So I have been looking to find a good broker to exchange, outside of North America.

I will be super appreciated if some of you guys can discuss your experience with the brokers you're coping with, and hope I can find one very soon.

Thanks

[nivom]

I got booted out of xm where I had my account for scalping.

I can't exchange with interactive brokers, since they do not support MT4. MT5 via a third party I guess.

I do not really want to try different brokers that loed at some no name island.

Only large names please men... we're desperate to your remarks :0)

[bgammcay]

IC Markets takes Canadian clients, been together for 3 years now. Do not whine spreads, ECN account. Cant ask for to much more then.


Edit: I've read in another thread Ontarioians cant open accounts in IC, I feel bad for you.

Dukas are the next option, as mentioned before.

[nivom]

I've been using EAs to manage the majority of my transactions. And why I do not like to take care of american brokers because of other things and their FIFO rules.

I am thinking about going with Dukascopy, however they've a third party bridge company that features MT4 which my EAs will probably be employed on. They're among the best brokers on the market as I as I know.

[oxluco00]

I had this issue as I was trading at Pepperstone and Global Prime and needed to close down my account.

Haven't been kicked off Worldwide Prime so I believe they're still taking Canadians. I have been happy with them for a little while and they have good testimonials http://www.forexpeacearmy.com/public/review/www.globalprime.com.au

Or, maybe some of the other australian brokers? I don't use them but heard Axitrader may be good.

[nivom]

I also had this dilemma since I was trading at Pepperstone and Global Prime and needed to shut down my pepperstone account. Haven't been kicked Global Prime off so I believe they're still taking Canadians. I have been happy with them for a while and they have excellent reviews http://www.forexpeacearmy.com/public/review/www.globalprime.com.au Alternatively, maybe some of the additional australian brokers? I don't use them heard Axitrader might also be great. Thank you for the reply. I am a little worried that sooner or later these Australian brokers will start to ban NA customers. I need to do some research.
I will read up the reviews on forexpeacearmy.

[nivom]

Talked to the Global Prime online, I had been told by the agent if they have plans to boot all of the customers 30, that he isn't sure. Here is what he said:

If ASIC requires us to cease accepting Canadian Customers, We Must comply however I think Pepperstone has other regulatory government That Doesn't allow them to take Canadians

[nivom]

And at the same time... I had been talking to Pepperstone and I had been told:

Pepperstone Service Live Chat
Regrettably, it is due regulations in Canada, we would have to take multiples regulations and licenses to have the ability to attend clients from various states in Canada. It isn't a potential for us.

So seems like it's the Canadian thing which does not allow it's resident to trade anywhere from north america. I think Pepper will be followed by Global Prime soon.

[oxluco00]

I spoke to Global and Pepperstone prime and it turns out that Pepperstone made a choice. They were not banned from taking Canadians.

Global prime stated that they don't intend on prohibiting us Canadians, I hope that they don't change their policy. For now I will continue using them and wait and watch.

[nivom]

I talked to Pepperstone and Global prime and it ends up that Pepperstone decided to no longer take canadians due to commercial reasons. From taking Canadians, they weren't banned. Global stated that they do not intend on banning us Canadians, I hope that they do not change their policy. For now I will keep using them and wait and watch. How is the service comparing these two? slipage? Execution rate and such? fees? commissions?

[oxluco00]

quote How is the service comparing these two? slipage? Execution rate and such? fees? commissions? They're both great brokers.

Both possess great service but Global Prime feels a bit more private, I think that it's because they are bigger than Pepperstone.

Slippage and execution are about the same, so that I don't actually trade around news so that's where I would expect to see larger differences.

Commissions were 7 per lot.

I attached a photograph of both their spreads. I think pepperstones are a bit better what I see there. Not certain why they are so high.

Piplife
https://www.nigeriaforextrading.com/attachments/15248717561799178299.jpg

[nivom]

Thanks Piplife,

Among my friends refered LMAX to me only now, and they bill 0.2-0.5 for its major six pairs to get spread. That is pretty adequate. But I talked to them now, they simply take wholesale clients instead of retailers.

At precisely the exact same time I downloaded that the Fair Trading Tech, which is the bridge firm for Dukascopy, and their spread is somewhat bigger but the commission can also be pretty standard around 7 per round lot.

I don't want to conduct the risk with anohter Australian broker since I've my trading grid distribute so wide for long runs, now I only have three weeks to shut all my rankings. Stressed.

[nivom]

And also the spread sheet that you just submitted, should not it be the other way around, the peperstone being on top 0.2 for EUR vs Global 1.2?

[oxluco00]

and the spread sheet that you just posted, should not it be the other way around, the peperstone being on top 0.2 for EUR vs Global 1.2? I just took a screenshot from myfxbook broker spreads page. Not sure pepperstone looked overly significant. Global Prime spreads look right.

[amgila69]

Pepperstone is governed by FCA (UK) and because of this they prohibit canadian too.

Global Prime, Axitrader. . Etc they're on ASIC (australia) controlled. Still accept canada.
I am with Axitrader because 3years, do EA trading and news trading . I tested broker and I really enjoy this one. 7 $ comm, quite spread. , very high speed implementation (such as autoclick news commerce) with vps, and low slippage.

However long they will nonetheless maintain canadian... Gov of Canada dont need of their resident be retail traders...

[nivom]

pepperstone is regulated by FCA (UK) and because of this they ban canadian too. International Prime, Axitrader. . Etc they are on ASIC (australia) regulated. Accept canada. I'm with Axitrader since 3years, do EA trading and news trading . I tested broker and I actually enjoy this one. Very spread , 7$comm. , very large speed execution (for autoclick news commerce) with vps, and very low slippage. But just how long they will still maintain canadian... Gov of Canada dont need of their resident be retail traders.... Thanks for your answer Frank,

That's why I am very afraid of handling Australian broker any more. I believe that, with the government pushing this tough they'll have to accept the wholesale traders like LMAX.

I am trying out Dukascopy with their third party bridge company Fair Trading Tech which provides the MT4 platform. Thus far, so good. They charge approximately $7 as well about, and disperse is acceptable with a reasonable range. I have not found any odd items yet and am throwing my EA on it to check the water. The execution time is somewhat delayed than Pepperstone.

Testing their host speed is like 150ms, at which Pepperstone border around 35-50ms.

Xu

[amgila69]

Yep since when ASIC will ban canadian, we will just have Dukascopy or Non-regulated broker somewhere in missing island...
just for your information, I used too Pepperstone (now shut my account yesterday after I receive the funny notice https://www.nigeriaforextrading.com/attachments/1524871751.png and Axitrader have same spread,implementation , fast draw, of Pepperstone.

Let me know your feeling if you will have tested dukascopy. And the minimal of 5k$ deposit still there ?

[cabwzok]

Canadians will lose access to Australian brokers?? When is this occurring and why? . . .Im with IC markets, will I get kicked out?

[fmlllmen]

Oanda is very good broker so far as I know.

[nivom]

oanda is very good broker as far as I understand. Oanda just 50:1 correct? for Canadians.

[nivom]

Yep since when ASIC will prohibit canadian, we'll just have Dukascopy or Non-regulated broker somewhere in lost island... just for your information, I used too Pepperstone (currently shut my account yesterday once I receive the funny notice https://www.nigeriaforextrading.com/attachments/1524871751.png and Axitrader have same disperse,implementation , quickly withdraw, of Pepperstone. Allow me to understand your feeling if you will have tested dukascopy. And the minimal of 5k$ deposit still there ? I think... minmum $5000, and 200:1 max.

However, when I set up the demo on the Fair Trade Tech, the maximum allowable leverage is 100:1.

For all those who belongs 100 percent EA, bigger leverage is definitely to our advantage.

[nivom]

Canadians will eliminate access to Australian brokers?? When is this occurring and why? . . .Im with IC markets, will get kicked out? They aren't saying all the Australian brokers will kick the canadians out now, but together with Canada and US are pushing so hard on their law and limit to those brokers, I think its only a matter of time.

I've my EA egy spreading onto a very long term program, now it really stinks all the sudden I had been told that only three weeks will be allowed till the CLOSE ONLY mode kicks in. And then after one month, the account will be closed down.

Ironically, the IB account will probably be still open and functioning, obviously they're still trying to use us to secure more non-canadian clients, how dumb that is. I'm switch all my IB clients to cashbackforex.

[nivom]

Have been trying on FTT for many years now, not noticing any items, so I have been to see the executions but largely using my EA.

However, I did tried manually open and shut postions, at the exact same time doing the samething on pepperstone, execution time on pepperstone (demo, not real account differently we're comparing apple to organge) is faster than FTT.

I'm curious to discover how you guys do with FTT?

[nivom]

Obviously, there are other threads nowadays showing. I can curiously found out that a number of our Canadian fellows are already with Dukascopy https://www.nigeriaforextrading.com/attachments/1524945655.png

[saamiilaa123]

Pepperstone was also emailed by me for a justifiion for why they no more service customers that were Canadian. Here is the vague answer:

Thanks for your email.
Pepperstone made the commercial decision to exit the Canadian market sometime ago and hasn't accepted new Canadian customers because 2016. Its connections are now winding down with its limited number of remaining customers as part of the final stage of its procedure.
Pepperstone doesn't provide legal or regulatory guie, so unfortunately we are unable to supply you with the information that you are seeking.
We apologise for the inconvenience that we've caused and wish you all the best for your future trading endeavours.
Kind regards,

As you can see, very vague. I believe it is because of IIROC regulations specifically stating any broker offering Canadians Forex accessibility must be IIROC regulated. Furthermore each province has their own Securities Commission - absurd. To acquire a permit costs money; moreover IIROC is the only company I'm mindful of the changes enabled leverage requirements often. This makes business for a broker very difficult. Pepperstone chose conducting business isn't worth it. This is probably the exact same story with many brokers that offer us Forex access.

My only worry with Duka is that they may go down this route as well, in the near future. I'll ask them and try to find an answer if this is in the works.

[nivom]

I also emailed pepperstone for a justifiion for why they no more service Canadian clients. Here is the vague answer: Thank you address. Pepperstone made the decision to depart the market some time back and has not accepted new Canadian clients since 2016. Its relationships are winding down with its small number of remaining clients as part of the last stage of its process. Pepperstone doesn't offer legal or regulatory guie, so sadly we are not able to provide you with the advice that... I myself have attempted a lot of times through online speaking, the only answer I got is yes, I do accept Canadian clients, but no corporate accounts, therefore small Canadian retailers are still approved. When I asked about what is coming in the future, they said they have no idea, it is the upper management's decision.

[nivom]

I've talked. He has an account with Dukas and didn't use it too much due to the platform. Trading contests were won by him here in Canada trader. And he explained that the reason he opened that account with Dukas is because it's been a broker for many decades.

He is currently trading in IronFX, perhaps not the very best but looks as though they are not booting any Canadians outside yet. Might worths checking it all out. I believe it's situated at Cyprus.

[nivom]

Seems like even though FTT asserting to be 24/7, the server, throughout the entire weekend shows not connected. Not sure if it is the case with the actual account. I do my assignments including downloading the information and analysis on weekends. This kinda sucks.

[Gavig4321]

quote Oanda only 50:1 correct? for Canadians. Oanda is a market maker, so only one position going one way at one time each pair. So no downtime, pyramiding, etc.. No, Oanda isn't 50:1. It's worse than that. Canada has the worst leverage rates on earth. I'm fairly certain that you can discover the rates on their website. I found them at fxcm's website. It changes from pair to pair, and also varies depending upon in the event that you're trading in USD or CAD. It's like that for many Canadian brokers. Some pairs have leverage rates across 12:1. Exotics? Forget it. Those ones are worse. You have to be careful when studying the fine print with Canadian brokers. They changed the definition of 1 lot, from 100,000 units of currency, to 10,000 units of currency. They did that so they would seem comparable to overseas brokers. Together with my current broker, the deposit needed to start a 1 lot trade on the gbp/jpy is less than $500 usd. Over $ 10,000 usd, the deposit will be with a Canadian one. Now you do have the CIPF, that's that the Canadian Investors Protection Fund. So that your account using a Canadian broker is guaranteed up to $250,000 CAD. The one problem is, you want to get a account to become profitable. I think it's about 7 times the cash needed with other brokers to produce the same profits. Therefore, if you have a little account, it would take to build up it in Canada. If you have a large account, like $80,000 or more, you can earn a living off forex with a Canadian broker.

[fmlllmen]

quote Oanda is a market maker, so only one position going one way at a time each pair. So no hedging, pyramiding, etc.. No, Oanda isn't 50:1. It is worse than that. Canada has the worst leverage rates in the world. I'm pretty certain that you can find out the rates on their website. I found over them at the website of fxcm. It varies from pair to pair, and varies depending upon if you're investing in USD or CAD. It is like that for many Canadian brokers. Some pairs have leverage rates across 12:1. Exotics? Forget it. Those ones are worse. You have to... Yes, superbly explained. thank you

[Gavig4321]

Canadians will lose access to Australian brokers?? When is this occurring and why? . . .Im with IC markets, will get kicked out? It's a messy situation in Canada. Matters like forex are regulated provincially. The most often blocked provinces I've seen are Quebec and B.C., due to their regulations. I wanted desperately to go with IC Markets, but for some reason, they blocked Ontario. They have, although I truly don't know why. Some brokers started out with obstructing Quebec and B.C., after some time decided to measure in line with a bunch of other brokers and just blanket ban Canadian traders altogether. I've seen a lot of that happening with brokers from Cyprus. Regulated ones at the U.K. and U.S. have been doing it for much longer.

Foreign brokers don't need to comply with the Canadian laws. Since Canadian law isn't international law, also Canada really has like zero influence on the worldwide stage. It can not put things out like economic sanctions on nations like the U.S. can. It's just some brokers go alongside provincial laws to appear and others go past that and ban all Canadians to seem more legitimate. It appears brokers are more willing to take from most provinces on Canadians. Some ones like FXOpen have multiple branches around the world, adhering to a lot of the what is considered top regulators. Yet they have one available in a regulated area allowing Canadians to trade with them. Since them getting a permit in Canada too is not worthwhile, given the country retail trader base.

So long story short, you could get kicked out. There's the possibility of that happening for every trader that has an offshore broker. If you do, they give you at least one month's notice before you can not trade with them and typically give at least another month then to withdraw your money. At least that is what it was once I got booted from xm.com. It's a annoying scenario, but it is one we are stuck with. Your very best bet is simply to keep a list of brokers that accept Canadians just in case. In addition, I look at ones that are members of financialcommission.org, as you can not always rely on federal regulators to actually care about the average trader.

[nivom]

Thanks for your information. I myself had an XM account and got booted out. It was not fun they gave much charge to you but you can # 8217; t cash them out since you haven # 8217; t.

There#8217;s not much we can do but hoping these adequate brokers will probably be still taking us poor Canadians. There aren#8217;t that many to begin with anyways.

And I begin to feel that many Canadians are interested in Foreign Exchange trading at all? That#8217;s probably those brokers don#8217;t care about penalizing canadian custermers.

[Gavig4321]

Thanks for your information. I myself had an XM account and got booted out. It wasn't fun that they gave charge to you since you haven't attained their commission target but you can't cash them out. There is not much we can do but trusting those brokers will be nevertheless carrying us Canadians. There are not that many to begin with anyways. And I start to believe that not that many Canadians are interested in forex trading in any way? That is likely why those brokers don't care about penalizing canadian custermers. From what I hear, Cyprus has basically put an end to the whole deposit bonus egy. They believed that it was luring in many traders that would lose their money. So now I think the majority of the ones who ran bonus promotions, now do rebates instead. I know offers an interest rate based credit plan should you reach their targets in terms of volume traded. I didn't enjoy their latency. My first broker had their servers installed in New York, so my ping was a lightning quick 12 milliseconds. XM's was around 150, which remains nice, my broker FxPig is around 100, but revealed around 500 milliseconds on their presentation. It stated the exact same for the host at the time, but that improved now. One live host is around 45 ms, another is approximately 110. I will start looking into opening an account with in a year or 2 if they accept Canadians. I really do high volume trading, so I'd hit their targets for lots traded no problem, and I'd become just shy of a equilibrium credit to my account in the end of the month.

I feel a few of the brokers are simply being driven by the regulators. Cyprus for a long time, was known as a safe haven for businesses. I'm guessing they really wish to clean up their image, so that they forced the controlled brokers to go along with it. Australia's been far more reliable so I guess that they don't feel the need to play basketball. They leave it up to the brokers, and the majority of them adhere to laws instead.

I'm not too sure how many forex traders you will find in Canada, but I'd presume not too many. Forex, and well, any type of trading in general takes years to find good at. To top it all off, some aren't the traders themselves. One man in Toronto offered seminars which were either weekend, or one week seminars. By its end, he told his students that when they didn't get that, then they might give some cash to him, and he'd trade for them. Because the instructor was a braindead idiot one of his pupils lost his life's savings. I believe it's because things like this pop up that Forex type of has a bad reputation. It also does not help when brokers throw out these eduional materials. If they were so eduional, there would be a lot more successful traders for this. https://www.nigeriaforextrading.com/attachments/1524945655.png

[nivom]

IC Markets takes Canadian customers, been together for 3 years now. Can't complain, low spreads, ECN account. Cant ask for to much more then. Edit: I have read in another thread Ontarioians cant open accounts at IC, I feel awful. As mentioned previously, Dukas are the next option. Thank you COGS, for your reply.

Up to now I have the following in my radar:

Austrailian: IC Markets
British: LMAX
Swiss: Dukas-FTT

Perhaps I need to give and ICM an attempt. There are other choices if later on us Canadians get booted out.
Due

[saamiilaa123]

I talked to Duka and got a response from an account supervisor. Customers are accepted by them, and feel confident that this will not alter in the near future.

Clearly anything could happen at any time, however I think this Ought to Be the way to go for us in terms of having a Nice and regulated broker that Isn't looking to drop off us shortly

[nivom]

So I spoke to Duka and obtained a reply from an account supervisor. Canadian clients are accepted by them, and feel assured that this will not alter in the future. Obviously anything could happen at any moment, but I think this should be the best way to go for us in terms of having a good and regulated broker that is not seeking to drop us off soon That's amazing to know. I've been their FTT platform, so far I am feeling alright.
I am waiting to shut all my positions at Pepperstone and get prepared to swich sometime next few months.

[nivom]

For those brokers like LMAX that are taking wholesale customers, I think it's fairly simple to accomplish. Just should go enroll yourself begin trading under that LTD company, and a company. And file tax as the government wish. That should be a route if really we really desire.

[maqwlixxa9011]

Hi

l'm from quebec and l trade since 3 years with Friedberg Direct(affiliated with FXCM Canada), no problem, they Take EA's, Respectively
Feel free to take a Glance: https://www.fxcm.com/ca/

Good luck

[nivom]

Hi l am from quebec and l trade since 3 years with Friedberg Direct(affiliated with FXCM Canada), no issue, they take EA's, etc Feel free to take a look: https://www.fxcm.com/ca/ Good luck As far as I know, Friedberg is on the top list that virtually everyone is trying avoid for many reasons.

[nnango1959]

quote As far as I know, Friedberg is on the top list that almost everybody is trying avoid for many reasons. Hi, I'm interested on what the motives are for avoiding this broker? I had been planning on investing a lot of my account together.

The rep that I work with was very upfront with me and I don't have any complaints. The base commissions, spreads, and leverage are all documented. I also did tests on these before depositing, as I'm in Ontario and they have a clean bill together with the OSC, and are members of IIROC and CIPF (Insured against insolvency up to 1m) and don't have any lodged disciplinary actions or complaints, along with being around for 15 years.

The only complaints I can find online were concerning the commissions, and leverage (That is IIROC regulations, and has nothing to do with the broker). Commissions seem to the spread that is low on level for me.

[nivom]

quote Hello, I'm curious on what the reasons are for averting this broker? I had been planning on investing a lot of my account with them. With was very upfront with me and I have no complaiints. The base commissions, spreads, and leverage are all documented. I also did checks on them before depositing, as I'm in Ontario and they have a clean bill with the OSC, and also are members of IIROC and CIPF (Insured against insolvency up to 1m) and have no lodged disciplinary actions or complaints, together with being accessible for 15 decades. The only... If you hunt around the site, I bet you can't find anything great about them when compared to other ECN brokers on the market. High disperse leverage and the scandals from the mother company FXCM that lost them lots of customers. Whenever there's still amazing brokers that are accepting CAnadians, this broker isn't on the top of the listing of my selections. I ll need to go with it, unless it's the only choice for me. https://www.nigeriaforextrading.com/attachments/1524945344.png

[nnango1959]

quote If you hunt around the website, I bet you can not find anything great about them compared to other ECN brokers out there. High spread leverage and the scandals in the mother company FXCM that dropped them lots of customers. Whenever there's still amazing brokers which are accepting CAnadians, this broker is not on the top of the list of my selections. Unless it's the only choice for me then I ll need to go with it. Https://www.nigeriaforextrading.com/attachments/1524945344.png OK thanks appreciate the penetration. I see Oanda is regulated exactly the same and is similar.

I'll consider a smaller account for an offshore which is not Canadian regulated, I will take a look at and Dukas as indied previously in the thread.

[nivom]

quote OK thanks appreciate the penetration. I see Oanda is regulated exactly the exact same and is comparable. I'll consider a account for an offshore which isn't Canadian regulated, I will have a look as suggested in the thread. is still taking Canadians and if you've got a little account to have fun with I would go with them, but if you are seriously trading for living with large account, I believe it's advisable to go with Dukas FTT and move abroad to avoid paying taxes on your hard profits https://www.nigeriaforextrading.com/attachments/1524945344.png

[nivom]

And I myself will be going to open an account with . Following my account at Pepper gets shut down for good I will move of my finance around to Dukas. Dukas always has its Foreign Exchange competition which is fun. In case you have a mad EA robot, you may acquire the price like my friend did. https://www.nigeriaforextrading.com/attachments/1524945344.png

[nnango1959]

Yeah the overseas move is a consideration in the upcoming few decades https://www.nigeriaforextrading.com/attachments/1524945344.png

I would consider my account big enough that I would be worried about keeping the amounts in a broker account that isn't Canadian regulated and insured.

With I can get around that with the higher leverage, which gives me the capability to keep much of my account outside of the broker. I've started opening an account with them.

That I will likely start an account with Dukas too, I think having 3, in three distinct states and regulatory agencies, is a good mix.

I am manual but've been getting very interested in EA's so this appears to be a good mixture of brokers to get back into things with https://www.nigeriaforextrading.com/attachments/1524945345.jpg I have taken a number of years off to pursue other things and am getting back in the game now. I forgot how much I missed it.

[nivom]

Yeah the overseas reloion is a factor in the next few years https://www.nigeriaforextrading.com/attachments/1524945345.jpg I would consider my account big enough that I would be worried about keeping the sums in a broker account that's not Canadian regulated and insured. I can get around that by using the greater leverage, which provides me the capability to keep much of my account out of the broker. I've started launching an account with them. I will start an account with Dukas well, I think having 3, in three different countries and agencies, is a mix. I am manual... For sure we're all addictive to this game. I used to exchange lots choices and stuff but nothing comes near as FX. Im a father that is busy with my own smalll business and do not really have a lot of time viewing the chart daily playing around news events. So I've developed an EA that is semi-automatic, this saves me lots time and effort. And believe it or not, the win rate is greater when you dont have your own emotion involved with the trading. So you will find brokers whom I must avoid like individuals who allows FIFO, which is just another reason I want to stay away from American brokers. They suck.

[nnango1959]

quote For sure we're all addictive to this match. I used to trade lots choices and things but nothing comes as Currency Market. Im a dad with my own smalll business and don't actually have much time watching the chart all day playing news events. So I've developed an EA which is semi-automatic, this saves me lots time and effort. And believe it or not, the win rate is greater when you dont have your emotion involved in the trading. So you will find brokers that I have to avoid like those who only permits FIFO, which can be just another motive... I have my own company to run as well and have been falling clients lately to spare my time to get things that motivate me, trading Currency Market is a skill I spent quite a couple of years on and realized I could begin minding it as a source of income. I am constantly looking to leverage time for cash, therefore EA is the feel for things and exactly what I was thinking once I get comfortable with guide. Money management and process is 95% of trading. I like scripting and wanted to get farther into automation so this feels like an ideal fit for me personally.

Thanks to pointer on FIFO, I heard it said but not the way to avoid it until I looked into it.

[nivom]

quote I have my own company to run as well and have been dropping clients lately to spare my time for things that inspire me, trading Currency Market is an ability I invested quite a few years on and realized I could start leveraging it as a source of income. I am always seeking to leverage time for cash, therefore EA is exactly what I was thinking once I get familiar with guide again and the sense of things. Money management and procedure is 95% of trading. I enjoy scripting and wished to invest further into automation so this feels like a perfect fit... Many brokers is FIFO just which really stinks, you need to shut the first position before you can close the second one. This prevents me by using. If you are long term bullish on a pair and what term hedge position for some profit you can not. And many other EAs that using the idea that is similar is going to be prohibited. So no go for me, doesn't matter how nice.

[sehomilapinipok]

Fantastic thread. Thanks for the info. I'm trading with International Prime. Just started a couple of weeks ago, so far so good. I was with friedberg. I left them because of commissions and charges were about the high side.

[nnango1959]

The FIFO will be debatable. I have been lucky so far rather than coming across it.

Great to know GP. I am having doubts about placing money in with Friedberg.

I had an account open with FX in less then 12 hours following a request on a Sunday. I had an issue with a price feed and issued a support ticket and it was answered within a quarter hour with a fix, also had a rep hit out after the account had been approved, so I'm impressed with the customer support so far. The leverage I won't be using myself, but it is 100:1 with them on my account. They comped me financing fees.

Take with a grain of salt since I only just started with them, haven't done any withdrawls, etc.. Happy although need a little more time to see how it goes so far. You can pick Raw ECN with commissions, or STD with no commission and larger spreads, I went together with the ECN.

[Agmi.oxchin]

quote If you search around the website, I bet you can#8217;t find anything great about these when in comparison to other ECN brokers out there. High disperse leverage and the scandals from the mother firm FXCM that lost them lots of customers. Whenever there's still other brokers that are taking CAnadians, this broker isn't on the top of the listing of my selections. I ll need to go with it, until it # 8217; s the only real choice for me . Https://www.nigeriaforextrading.com/attachments/1524945345.jpg Hello mnm,
FXCM has over 100,000 active accounts and $12 billion in average daily trading volume as part of our most recent metrics launch from February 2017. And https://www.financemagnates.com/forex/analysis/forexanalysisanalysis-fxcm-remains-top-5-2017/ ranks us as the second largest retail FX broker beyond Japan.

You're right that leverage is low, but this is because leverage levels are determined by the Investment Industry Regulatory Organization of Canada (IIROC). Brokers regulated in Canada must abide by leverage limits.

Along with our spreads and execution are very transparent. FXCM supplies high volume busy traders using tight, executable spreads throughout peak trading times when you are likely to be more trading. The spreads report from Q4 2017 had our spreads atEUR/USD 0.2 pips USD/CAD 0.4 pips USD/JPY 0.2 pips The entire report may be found https://docs.fxcorporate.com/spreads-report_ltd.pdf.
Jason

*Past performance isn't indiive of future results. Losses can exceed deposits.

[sehomilapinipok]

Great thread. Thank you for the info that is helpful. I'm trading with Global Prime. Just started a couple of weeks ago, so far so great. I was with friedberg. I left them because of fees and commissions were about the side. Hey Everybody
Just a quick update for anyone contemplating Global Prime. Did my first with drawl went smooth. Produced the petition on Friday, had the money in my Canadian account today.

Have A Fantastic Day
Gp

[oxfmancoz]

Hello everybody,

I am with pepperstone since 2012. As a canadian, today I have to find different brokers in under 1 month.

This morning I have an internet chat with pepperstone support regarding the account closure. I asked if pepperstone support b2b transfer. Regrettably pepperstone only take b2b from pepperstone, not b2b out into pepperstone. I wired a finance from pepperstone to my bank account. The charges was 60usd. Consider the prices of canadian banks if wiring out to international banks, I figure the fee will be.

So any hints?

thanks

[nivom]

hello everyone, I'm with pepperstone because 2012. As a canadian, now I need to find brokers in under 1 month. I have an internet chat with support concerning the account closure. I asked if pepperstone encourage b2b transfer. Unfortunately pepperstone only take b2b not b2b. In 2016 I wired a finance from pepperstone to my canada bank account. The fees was 60usd. Think about the large fees of canadian banks when gas out to international banks, I guess the fee would be... Hello Oak,

Here we're all from Canada. And we've narrowed down several brokers which are readily available for us. In case you've got a large amount to invest (over 5000) and you also don't really care about MT4 platform, you best bet is to proceed with Dukas. Or I will try out australia.

Lmax is a good broker but they only accept Canadian wholesalers, not retailers like people, if you don't would like to register a coporate account to talk to them. That will be a pass for me. It's a shame.

[nivom]

quote Hey Everybody Just a quick update for anyone Contemplating Global Prime. Did my first went smooth without any problems. Made the request on Friday, had the money in my Canadian account now. Have A Great Day Gp I'll be checking into the globle prime and now, and do some comparason of these spreads and things. And will return to you guys.

I have been busying shutting all my rankings with pepperstone these days, now I'm officially done with Pepperstone following 6 years of trading with them

[nivom]

Very important part of information here guys...

Chinese government has prohibited the subsequent 40 illegal (or untrue) brokers within China. All these are for your reference. Individuals with these brokers consistently has all types difficulty with slippage spreads and draw problems that are acceptable.

, unfortunately, is just one of them. That is the reason why vantage has a few different promotions when you finance your account, so as many others on the list. A fantastic broker doesn't have to do by providing services this like pepperstone itself.

Notice: You may not have heard about a number of the brokers on the list, these ones are Chinese neighborhood illegal MM platforms.
https://www.nigeriaforextrading.com/attachments/1524945352766645154.jpg
https://www.nigeriaforextrading.com/attachments/1524945346.jpg

[nivom]

Just compared the two brokers on Currency Market acadamy's review site.

Here are the ratings for both:

FX: 3.299 celebrities with 127 testimonials
International Prime: 4.721 using 210 testimonials

Tonight I ll be comparing with all the live spreads of those two.

[oxfmancoz]

quote Hi Oak, Here we are all from Canada. And we have narrowed down several brokers which are still readily available for all of us. In case you have a huge amount to spend (over 5000) and you don't care about MT4 platform, you best bet is to go with Dukas. Or I will try out australia. Lmax is a good broker but they only accept wholesalers, not retailers such as people, if you don't want to enroll a coporate account to go with them. That will be a pass for me. It's a shame.
Hello mnmnmmnnmnmn,

can you tell me how you are going to transfer funds into new broker you select

my bank RBC will charge $55USD to get a 23k cable out to bank outside canada, I'm thinking of switch into IB canada now.

thanks

[bgammcay]

quote hello mnmnmmnnmnmn, will you tell me how you will transfer funds into new broker you select my bank RBC will cost $55USD for a 23k wire out to bank external canada, I'm thinking of switch into IB canada now. Thanks
Your feared about 55 USD although not the market? Banks charge 2.5% in addition to the spread. Thats where you will be got by them. Your best bet is to utilize Transferwise.com if your looking to utilize an account abroad.

You transfer the money into a TW account in Canada, then with Transferwise will find someone or many members of the nation you would like, who somebody who wants Loonies and you trade the money. Canada is not left by any money. Cuts down on cost. Your money is from the TW account in w/e currency you desire. Simply transfer it to a broker.

Go there right now and you can see what rates you'll get with them. Then compare them with RBC for example.

[sehomilapinipok]

quote hello mnmnmmnnmnmn, can you tell me how you will transfer funds into new broker you select my bank RBC will charge $55USD to get a 23k wire out to bank external canada, I am thinking of change into IB canada now. Thanks have a peek at TD. Exchange rate is better than RBC and if you do your own banking they won't charge you for transports. They charge but give it all back. Atleast they did me anyway.
Hope that helps
Gp

[nivom]

quote hello , can you tell me how you are going to transfer funds to new broker you select my bank RBC would charge $55USD for a 23k cable out to bank outside canada, I am thinking of switch to IB canada now. Thank you I don't believe IB is a fantastic spot to exchange forex. Costs too high and leverage low for you to do anything. I also have IB account, I believed I used transport. Sorry could not remember cuz I just wired once, after that all withdraws https://www.nigeriaforextrading.com/attachments/1524872086.png

[bgammcay]

quote Have a Peek at TD. Exchange rate is better compared to RBC and if you do your own banking they won't bill you. They bill but give it back. Atleast they did me anyway. Hope that helps Gp
what about the spread?

[nivom]

Im funding my Prime account with mastercard. And 3.25% will be charged for handling fee. I call a rip off. However, I know it's the exact same. Just $500 will be deposited to check the water https://www.nigeriaforextrading.com/attachments/1524872086.png

[oxfmancoz]

quote Your feared about 55 USD but not the exchange? Banks charge 2.5% in addition to the spread. Thats where they will get you. Your best bet is to utilize Transferwise.com if your looking to utilize an account abroad. The money is transferred by you to your TW account in Canada, then with Transferwise will find a person or many members of the nation you would like and the money is traded by you. Canada is not left by any actual money. Cuts down on price. Your money is in the TW account in w/e currency you desire. Just transfer it to a broker. Go there... in my case, funds transfer from pepperstone in usd back to RBC (total cost: $60usd), subsequently RBC cable out the funds in usd to new broker (could cost $55 ) , no exchange involved. Thank you anyway.

[oxfmancoz]

quote Have a look at TD. Exchange rate is far better compared to RBC and if you do your own banking they won't bill you. They bill but then give it all back. Atleast they did me anyhow. Hope that helps Gp
I will take a look. Thank you

[oxfmancoz]

quote I don#8217;t even believe IB is a good spot to trade FX anyways. Costs too large and leverage too low for you to do anything. I also have IB account, I believed I utilized online transport. Sorry couldn#8217;t recall cuz I just wired once, after that all withdraws https://www.nigeriaforextrading.com/attachments/1524872086.png
Yes, can utilize EFT transfer (both CAD and USD) into IB free of charge.

As of cost, I really do one lot all of the time, so the commission is 2x2=4 usd. That is a lot superior

only bad thing is the 20-33 leverage. I'd incorporate some more funds into my trading account in addition to 23k. One pip PnL is the same as with a 400 leverage broker, no difference.

[bgammcay]

quote in my instance, funds move from pepperstone in usd back to RBC (overall charge: $60usd), subsequently RBC cable out the funds in usd to new broker (would charge $55 ) , no trade involved. Thanks anyway.

Perhaps Im miss knowing this, did the funds return to Canada?


On another note: Pepperstone doesnt accept Canadians

[oxfmancoz]

quote Maybe Im miss knowing this, did the funds return to Canada? On a different note: Pepperstone doesnt take Canadians I have been trading using pepperstone since 2012. The capital will have to return first to canada.

[bgammcay]

quote I have been trading with pepperstone because 2012. The funds might have to be back first to canada.
What rate did they give you and what date did the transaction occur?

[oxfmancoz]

quote What rate did they provide you and what date did the transaction occur? What rate, trade?