Looking to open a new fx account here in Canada. Has anyone used Tradestone Markets? The demo looks pretty sweet and I like the IIROC/CIPF coverage…
I couldn’t find many negative things about them. They seem legitimate, 30:1 leverage. They don’t have fixed spreads, so you’ll have to deal with 3 pip spreads sometimes and 8 pips others. Also, they disable auto-trading during volatile times, so don’t choose them if you use automated strategies.
It’s not my style of broker, but they don’t seem like a scam at least.
On a related note, most Canadian users on this forum prefer Oanda. I would check them out first before deciding on a broker.
How do you see they dis-able auto trading?
Foreign Exchange | Tradestone Markets
View the “Conditions” section. That’s where they discuss the spread amount and auto-trading.
Sounds like a pretty standard disclaimer…will give them a try. Who do you use ?
I use FXSolutions, but I’ve never recommended them to anyone. I’ve been trying to find the time to switch brokers, but I haven’t been able to research into which broker is the least sketchy.
Why do you want the brokerage to be headquartered in Canada?
I personally don’t trade with Canadian brokers. I live in Canada but canadian brokers are not competitive. I’ve traded with Oanda for a while but the leverage is too low. I tried questrade for a bit, definitely don’t go there, they are a joke plus their feed is from forex.com so why would you trade with them and not directly with forex.com
As for tradestone. I didn’t know of them, but looking at the website, I see nothing special. As far as I can tell no support for MT4, plus low leverage. The only good thing is the investor protection, but you get that anywhere in the world(well almost anywhere), in the US, UK, Cyprus. Unless you’re trading with close to that 1m that you’re protected up to in canada, I see no point.
Because I live in Canada and want to deal with a counterparty overseen by the Canadian regulator, and protected by the CIPF.
Reason being?
Hi Chitak,
I’m looking to trade other product as well as fx, especially dma stock cfds …Tradestone looks good for this.
You might want to look into ECN and STP brokers. I am really starting to get a bad taste in my mouth from DD (Market Maker) brokers. Here is a good place to start your research: ECN brokers list | ECN/STP Forex brokers