Hey everyone, i am new to babypips and was wondering if there are any canadian forex traders in the house. personally i find it hard to get an accomplished broker here, Toronto to be more specific and would appreciate help from anyone.
You can sign up with FXCM via Friedberg Direct at their Canadian FXCM site.
Regulated by IIROC, leverage is fixed at 100 (but this is the max. and it is actually lower in practice), and there is a commission of $1 for trading 1 mini lot, along with the usual spreads.
Deposits are instant, withdrawals average about 3 days.
$100 account opening minimum.
MT4 supported, which is key for me, and I’ve found the overall performance great.
Their support chat is not bad either.
I haven’t found really any other brokers in Canada that provides MT4 other than this (wish there was one providing a higher leverage but seems if you are a broker in Canada you must be regulated by IIROC and that means fixed leverage at 100; on the other hand, this low leverage actually keeps you from taking too much risk in your trading, and could work with even a 500-1000 in your account, depending on which currency pairs you trade).