Depends on the size of the withdrawl… I pay $30 for international wire transfer, but hey its there the next day… that alone is worth the $30…
It seems ridiculous that in BC, our rights for forex capitalism are being destroyed, and instead monopolies are being created in this province.
However, there is hope for BC residents. From what I understand it is illegal for unregistered dealers to do business in BC, however it is not illegal for BC residents to do business with dealers not registered in BC.
Just like pot in BC: it’s illegal to distribute it, but it’s not illegal to smoke it. 
That said, BC residents have many options for forex dealers without ridiculous margin requirements and thes options include Oanda, FXDD, and many other dealers in Europe (because the rest of N.A. has abandoned BC and won’t allow BC residents).
Anyway, I’m only 95% certain about this post based on what I’ve read, so if someone can confirm it, I’d appreciate it.
And we’re going to have the Olympics here in this corrupt province in a couple months? What a joke.
Too much damn legal BS in BC. F’n politicians.
I’m from Toronto Canada and though not in BC, I’ve been using AlpariUK (demo for now) and Oanda and been happy with them both. More Alpari for the MT4 package but Oanda’s spreads are nice.
I also think that it doesn`t matter where are you from all brokers are happy to welcome all people. I personally open an account through fx-megaforex that works with eforex and its being great. They gave great support, good leverage, metatrader4 and wintrader and megaforex signals. For me they are really good. Good Luck!
I use odlcanada.ca they have MT4 platform for instument like FX, gold, oil S&P with 100 to 1 leverage. I trade GBPJPY alot and they have narrower spreads than most out there. anyone here trade with EAs?? I have some difficulty writing my own program.
I see no one has mentioned FXDD yet. I used to be with Refco Canada :mad: until they got taken out by Man Global. The service was always great but the lack of integrated charting was too much. Also their prices would jump all over the place when activity picked up. I could never get a straight answer about where trading was taking place, but I don’t think it was in Toronto and they were just referring broker to some firm in New York.
FXDD is pretty good, especially Compass FX. Its a bit of a risk not having the funds protected like in Canada, but I only keep what I can afford to lose on deposit. I live in Calgary.
instead of making a new thread I thought Id bump this one…Like some members here I live in the vancouver region (live in burnaby now, grew up in coquitlam)…I heard fxcm is no longer available in BC…what brokers the best for candians in BC?
thanks!
Micro accounts
Since 1998
Allows BC residents
$300 minimum deposit
MT4 platform
Likes scalping EAs… WOW!
Hedging allowed… in the one account, of course.
1-200 Leverage max
Does not report to any government. (Don’t have to declare… up to you.)
Fantastic customer service though your own back office.
Takes master card and bank wire… I have only used bank wire. -very fast.
Fixed 2 pip spread on EUR/USD. 3 pips on many other majors.
Only had a re-quote once (non-farm)
I am also in Van (Richmond) coffee anyone?
Hello all! Newbie here… long time lurker, first time posting…
MF Global Canada has MT4, micro accounts and will sign up people from BC.
Also Royal Bank and Scotia customers can deposit funds via online banking.
After being turned down by a number of brokers because I am a BC resident I contacted the BCSC… I tried to be polite even tho I was frustrated and this is what I got back:
[I]Thank you for contacting the British Columbia Securities Commission (BCSC).
In British Columbia, forex trading is regulated under the Securities Act, which is administered by the British Columbia Securities Commission. If a forex dealer wants to carry on the business of trading in forex in British Columbia, it must register as an investment dealer and become a member of the Investment Industry Regulatory Organization of Canada (IIROC).
While British Columbia was the first province to clarify that forex trading, like other securities and exchange contracts trading, requires registration as a dealer, other provinces are following that lead (notably, Quebec and Ontario).
Forex trading presents risks to retail investors that are often not well understood; including the risk that the dealer may become insolvent and the risk that forex trading may not be suitable for the investor. Forex trading is highly leveraged, thus magnifying losses as well as gains. In a time of economic downturn, when many retail investors are anxious - perhaps even desperate - to improve the returns on their investments, it is especially important they have the protection offered by the registration system. You can learn more about forex trading from our InvestRight.
British Columbia residents can trade forex contracts through registered investment dealers whose services include forex trading (not all dealers offer forex trading services). For a complete list of IIROC dealers in British Columbia, visit IIROC.
It is our understanding that following dealers currently offer forex trading in British Columbia:
- Interactive Brokers Canada Inc.
- MF Global Canada Co.
- Questrade, Inc.
- Onada Canada Corporation[/I]
Hi enter…I too grew up in coquitlam…moved around in the vancouver region, and back to coquitlam presently
I also was with fcxm canada but they wouldn’t/couldn’t deal with the BCSC so I moved on to MF Global Canada. So far so good.
See ya around
In case anyone is interested… I just received email confirmation from Dukascopy and they do accept all in Canadian accounts, including British Columbia Residents…
Just FYI
mfglobalfx.ca MetaTrader 4 demo account
Lifesaver for me. Also in BC and would like to use the MT4 platform. MF Global seems to be the only company that will provide BC residents with a solution that includes MT4 and (although I may be wrong) an ECN? “No Dealing Desk Execution”. Plus spreads look very low.
I’m only using demo for now but finding these guys was a BIG relief.
Thanks Sweet Pip
BTW demo account NEVER expires… sweeeet
I answered this question months ago
If you find one that is better let me know otherwise don’t bother, we know there are worse ones that accept BC residents.
MFglobal is worse.
Fibo is an STP MM $300 minimum with great execution, 2 pip locked spread on the EUR/USD and uses MT4 platform.
If you can find better PLEASE POST, I want the same or better but accepts US and UK citizens as Fibo does not.
Damon :eek:
I was wondering how the new CFTC leverage ruling would affect my broker, MF Global, and now I know. MF Global already had a rather high margin requirement but now it’s even higher as follows…
The initial/maintenance margin requirement is the amount of margin deposit required to open and maintain a position. If your account equity falls below aggregate maintenance margin requirement for all positions held, you will receive a margin warning and must restore equity above the required level within 72 hours. If at any time account equity falls below 90% of aggregate maintenance margin requirement for all positions held, an automatic liquidation will close all open positions. Below is the 10K lot (MMR) for some currency pairs. Please review the MF Global FX Margin Policy & Procedures: MF Global Canada FX - Margin Policy & Procedures
Pairs 10K lot (MMR)
US$ Majors EUR/USD $ 500.00
USD/JPY $ 300.00
GBP/USD $ 500.00
USD/CHF $ 300.00
AUD/USD $ 450.00
USD/CAD $ 350.00
NZD/USD $ 300.00? Crosses EUR/CHF $ 950.00
EUR/GBP $ 1,000.00
EUR/AUD $ 900.00
EUR/CAD $ 550.00¥ Crosses CAD/JPY $ 500.00
NZD/JPY $ 600.00
GBP/JPY $ 1,100.00
AUD/JPY $ 800.00
EUR/JPY $ 1,200.00
CHF/JPY $ 800.00Others GBP/CHF $ 1,100.00
AUD/CHF $ 600.00
AUD/CAD $ 300.00
Some pairs I won’t even be able to open a position on with my $1k balance.
Has anyone tried odl since their fxcm switch over?
Hey I’m from Quebec,Canada and having same kind of regulation problem than BC residents, I have been on demo for a long time on MFGlobalFx and like it but spreads are bad, I just did some research comparison and I screenshoted FXspreads for EURUSD of some popular brokers at the same time to let you see what we are talking about (under normal volatility):
alpari: 16pipettes (live)
mfglobalfx: 28pipettes (live)
questradefx: 22pipettes (live)
Oanda: 13 pipettes (updated from their website)
looking at this the best option would be to chart on a MFglobalfx demo for example and then send orders on Oanda if this spread is actually what is offered live.
“For information relating to the bankruptcy of MF Global Canada Co., please refer to the website established by the court-appointed trustee of MF Global Canada Co.”
It’s bankrupt now. Did you get your money out safely?
I’ve been using Questrade demo for a few weeks now and I haven’t noticed anything that I really disliked. Does anyone here have any live account experience with Quest? How is it?
Do you mean that potentially we don’t have to report any capital gains, thus tax free if we used this brokerage?