Canadian looking for broker eh?

Broker Discussion
1

So I was using IC Markets and was very happy but I got this email this morning:

“This letter is being sent to you because IC Markets understands that you are a resident of Canada. For reasons beyond its control, from 26 June 2018, IC Markets will cease supporting trading by any clients who are Canadian residents. Unfortunately, there can be no exceptions.”

So… what are other Canadian traders using/recommend?

Thanks

2

You might try oanda.ca they take Canadian traders-they have an office at Toronto

3

Hi @rickoshay,

FOREX.com is regulated by the Investment Industry Regulatory Organization of Canada (IIROC), so we are authorized to offer trading services for Canadian residents. Also, since we are a member firm of the Canadian Investor Protection Fund, your money deposited with us would be protected for up to $1 million.

In addition to our new Advanced Trading Platform, FOREX.com clients have access to TradingView, NinjaTrader and MT4 (including a web version). We also have a dedicated discussion thread on this forum, so please feel free to reach out to us anytime with questions: FOREX.com discussion

4

I would suggest TD Ameritrade if you have access to them.

5

I got the same email this morning. Was kind of surprised. What is the reason for change of policy?

Does anyone know of a Forex broker that allows Canadian Residents that also offers CTrader?
Thanks

6

What are you looking for from the broker:

commissions
spreads
account type
regulation
etc… etc…

7

The following are the main Canadian regulatory authorities in charge of regulating companies:

The Investment Industry Regulatory Organization of Canada (IIROC)
The Canadian Securities Administrators (CSA)
The Financial Services Commission of Ontario
The Alberta Securities Commission
The British Columbia Securities Commission
The Financial Transactions and Reports Analysis Centre of Canada
The Mutual Fund Dealers Association
The Canada Revenue Agency
The Office of the Superintendent of Financial Institutions
The Ontario Securities Commission
The Autorite des marches financiers (Quebec)

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8

I am tired of being chased around the world by regulatory hurdles because I live in Canada, and there are too many restrictions and limitations for local brokers. Has anyone here looked into setting up a company residing in the country of their choice so that they can (not evade taxes, but) use the broker of their choice?

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9

Don’t do it, its not worth it, if you want freedom and can support yourself trading, Cayman’s babeeeeee. If not get the Rayo out of Canada, it is just going to get worse. Head South young man, the gold rush is on. Sell your Vancouver mansion, move to the outskirts of panama city fl. Let the good times roll, or stay in Canada and watch your freedoms disappear.

The Ever Lovin The South VIPER

LIBER8 _bob

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10

Maybe for the time being I will say siyonara to forex and focus on crypto, where the regulation creep is slower and beyond the control of the financial system. (I’ll still pay taxes, because I am a patriot.)

But we really should liberate Canadians. “Canada is free and freedom is its nationality,” “Nothing will prevent me from continuing my task of preserving at all cost our civil liberty.” - Prime Minister Wilfrid Laurier

FREEEDOOOMM!!!

(PS - to all the regulation nannies watching this, and crony capitalists at the big local forex brokers who lobby our government to take away our freedoms (thanks, you jerks), having worry about local citizens harming themselves through uninsured brokers, too high leverage – education is the answer, not arrogantly stripping away our liberties, forcing us away from reputable brokers like IC Markets to shadier and shadier offshore brokers whose headquarters is a PO Box in Dominica or crypto brokers on an island off the coast of Africa that I have never heard of before.)

11

That’s a bummer. Regulatory constraints can strangle your freedom to trade. With IC Markets no longer a viable option for Canadians, many traders are finding it hard to find a tried-and-true broker. Fortunately enough I came across this list on babypips itself that mentions a few trusted brokers. I tried Coinexx from them and so far I am loving the experience especially the fact that I am getting good leverage and thin spreads. I have suggested this broker to a few of my friends who were previously with IC Markets and they’re good with it. Perhaps you’d find it suitable too.