With much sadness, FXPro is leaving Canadian customers in the dust and I need a new broker. I haven’t had to look for over a year and I am dreading the search again.
If anyone can help my search with a list of brokers that meet my conditions that would be a massive help.
Must offer service to Canadian residents
Euro brokers preferred but not required (less likely to conform to NFA)
MetaTrader is a must (I’m a programmer)
Offers at least a 1:100 Leverage
Must be a profitable broker and regulation is a bonus
I think low spreads and high speed of execution goes without saying (FXPro had EUR/USD typically around 1.7 pip spread)
I read about them back about a year ago when I was looking for a broker and I remember some sort of big margin requirements compared to other brokers, can you confirm/explain?
Yes that’s correct. Some pairs are as low as 3% others much higher. I don’t particularily care for it, but we Canadians don’t have too many choices, especially those of us in BC.
I live in Alberta and have used FXDD for over 3 years with no complaints other than the size of the spreads. The advantage is they have fixed spreads, but the G/U is 4 pips.
Do what a lot of us do who are Oanda clients. Use MT4 for analysis and Oanda for placing trades. Their spreads are good, but you do have to watch for news times and make sure your stops are placed far enough away to avoid getting hit by the increased spreads.
