Broker In CAD

Broker Discussion Forex Brokers
1

Hey Guys, i’ve been practicing on Oanda for about 7 months and really liked their platform but I didn’t know
that they only allow you to trade from Canada if you are an accredited investor (ie worth 5 million or earning 200k+). One of their reps told me that this change has only been done fairly recently…which has left me quite pissed off. Mainly because I’m still a student and just can’t generate anywhere near that income.

So what options do I have in terms of brokers?

I’m looking for flexible leverage (i dont like going above 30:1), a variety of currencies (ex. Eur/Nok, Usd/Dkk,
maybe Inr), CAD denominated accounts, few wire/cred card charges and decent spreads, most importantly micro lots.

In term’s of trading I prefer to be trading mid to long-term and following the 1-day, 1-week or 8 hour charts.
I have about $3,000 CAD to start off with.

Clive-O

ps: apologies if this is on the wrong thread.

2

I use Oanda. I have had an account with them for awhile though. The other 2 options are Questrade which has ridiculous spreads so I wouldn’t go that route. Other option I know of is Freidberg Direct which is and affiliate of FXCM. Demo both of them and see what you like.

3

Ya thanks Pashka, I’ve demoed FXCM before, I’m a tad scared because I’ve heard of people’s accounts being frozen, but I
presume that is a risk we all must take + I’m sure the issues would be resolved. Their platform is decent. And yea I’ve heard of Questrade’s spreads.

4

Clive, FXCM is a good broker try their services. If you would not find that you are looking for then you can try avafx as well.