How’s it been going for you @forexcalgary
I joined a large group of forex traders a couple months ago and I’ve encountered a handful of traders in Alberta. Search Alyleafx on IG… she’s a trader from Calgary as an example. Just stop worrying if you still are. Report your taxes and you’ll be fine. You can trade off shore but you won’t be protected by the Canadian government if shady shit happens. Hence why joining Oanda or cmc markets is such a nice option IF you are in any other province.
All other Albertans looking into this post use Tradersway, Hugosway, or JAFX. There are other brokers out there. My tip is to connect with a huge group of traders on discord and NETWORK to find more brokers.
I am relieved now. I talked to the ASC and they said it’s fine to use offshore but they have nothing to do if something happens with the company. Right now, I am looking to learn how to trade and not just ‘gamble’. Thank you for the advices!!
Hello, I am from Edmonton as well! Have there been any updates to your journey lately? Still successfully using your broker?
Let me know! Looking to network with people actively trading on the forex.
Have a great day!
Unfortunately BlueBerry Markets just sent the mail out that they will be pulling out of Canada later this month :(. Markets is also not accepting Canadians.
I sent an email to Hugosway to see if they are still accepting Canadians or more specifically Albertans (fuck it sucks so bad we can’t trade with Oanda in Alberta…)
I’ve been using hugosway to trade their demo account for about 8 months now. They take Albertans and Canadians. I just went into a bank tonight to send them a wire transfer. It cost $45 with the Royal Bank. And I’m just waiting for my money to appear in my account. I transferred over 500 dollars. I’ve been practicing on their demo with a $500 account. It’s taking me going broke n the demo about 20 times now. But now I’m good enough that I stay alive and I don’t need thousands of dollars to start anymore even in a demo. I use leverage 1 to 50. I know a lot of people prefer to use 1 to 500 but to me that’s just one bad trade away from going broke really fast. I hope that my wire transfer works. Because my wire transfer was from a personal bank account to a company, hugosway dot com, not a normal human to human transfer I wasn’t able to do it online and I had to come into the branch to complete the wire transfer. At the Royal Bank gave me a sheet of paper which they stamped I took a picture of it and uploaded it to show it was completed. Trading in Alberta is the biggest pain in the ass I’ve ever known. It is not illegal to trade on the Forex in Alberta as long as the company is not in operating in Canada. Of course the difficult part is trying to find an offshore company to accept Albertans, and pray that your money doesn’t disappear. I originally was trading with fxtm with real money 8k Canadian, but they suddenly kicked all the Canadians out and that was that. I’ll try to follow up and let you know if the bank transfer is successful, it was quite a complicated process for the lady who had to do it there to type in a bunch of numbers and it’s like we were back in 1985 or something. When the bank asked me what I was doing I told them it was for trading. If you are a trader in Canada and you actually find a place where you can get money up and you can actually make a profit which has taken me about $8,000 at this point to figure out how to do and five years, yes I’m a slow learner, just remember that once you make over $120,000 in Canada whether it’s through your own salary and trading combined every dollar over $120,000 is taxed at 50%. So once you get to the point where you’re making a profit I would recommend that you put all of the money you making an holding account and then don’t spend it until you pay your taxes , and you pay your 50 or 54.8% on it or whatever crazy amount it is in Canada, because if you spend all that money you are going to owe a lot in taxes. I would also just like to say that everyone says this is crazy and impossible to do and it isn’t, but it took me years and years to figure out my own formula about 5 or 6 years of trading demos day smy night literally, but now I can pretty much do this in my sleep and it’s so much fun but oh my God is it a pain in the ass to even just try to find someone just to trade with in Alberta. I’ll try to update this hopefully my bank transfer goes through but at this point I’m so used to every single thing I do in Alberta Forex Trading as like some Alice in Wonderland rabbit hole where nothing is ever what it seems. However eventually at some point Alberta will figure out that with all these up-and-coming young Forex traders that this is a legitimate career for many people and it’s ridiculous that they are restricting Us in this way. You can walk into a casino and spend your entire paycheque on one spin of a roulette wheel, but you can’t trade the Forex in Alberta? Crazy. Hang in there all albertans. I know it will get sorted out for us eventually! One day it won’t be this hard, so keep practicing your skill. I wish you all the best. The forex has made me cry a few times it was so frustrating for years, I thought I’d never get the hang of it but now I can pretty much literally do it in my sleep. Dont give up.
Replying to my own post. I did get my money up in Hugosway via complicated wire transfer. But they just informed me the wire transfer option to send or receive is not working anymore. I have to take my money out or add it with bitcoin. I don’t want to trade with bitcoin. This is so insane in Alberta. I need to move to another province just to trade the Forex. Seriously. There’s like no options left. Every time you get your money somewhere half legitimate, they take away the option to get more in or take any out the same way. hugosway will still take Albertans at the moment, but bitcoin or instacoin transfer only. I hate that. I want to trade with real money in a real bank account and pay real taxes.
Blackmamba, i’m happy to hear you got your withdrawal. This is complicated because I’ve yet to withdraw on Hugosway and seeing this now is quite disheartening. I feel we are running out of decent brokerages for Albertans. I feel your struggles. Thanks for updating this forum with your experience.
I’ll let you guys know which transfer works for me when i issue a withdrawal.
I’m still trading with Hugosway at this time of writing even with their new deposit and withdrawal methods changed to from wire transfer to BTC methods (Annoying as ■■■■).
I did a bit of research today and made a list of potential brokers that may work today with Albertans. Please reply if you’ve have had a bad experience with any of these brokers and if deposits/withdrawals worked out and method of deposit/withdrawal:
Global Prime (Most likely new broker that I will sign up with after more research)
Darwinex
Tickmill
FOREX
Cash Back Forex
Tradersway
Black Bull Forex
I just went through the course here plus many hours scouring through youtube videos and playing around on MT5 for the last 2 months to find this out
I live in Edmonton and dont feel like moving but I am tempted. The idea of dealing with someone unregulated scares me. I wonder if qualifying for a fundded account through Topstep or the like counts?
Have you looked at Tradeview Forex? I believe they accept Albertans and have Interac eTransfer too. I am just on a demo account with them, but I believe @FlorinFX is from AB and is trading on it. Check out this discussion.
I’ve been trading a Demo account with Tradeview Forex as well, their cTrader platform seems pretty good so far. I just got approved for a Live account with them so lets see how things go. I’ve also heard of Alberta traders using Fusion Markets x, has anyone had experience with them?
I like cTrader platform too, but wish it had better charting tools. Let me know how things go…Tradeview seems like a good option for us in AB. Still on demo for now but will likely transition to live in the next few months. Maybe i will check Fusion Markets X out too.
@FxEJb
May I know which group did you join? I’m currently using Vantage Fx. Deposit was really fast. I used my visa with no fee. I haven’t try withdrawing yet as I want to grow my account.
