I’m trying to find a reputable broker. This has been, by far, the most difficult part of getting into this industry for me. I’ve taken a few courses, read a few books, and practiced with a few demo accounts. I’m ready to take my first baby step into trading live (cautiously of course).
I’m a Canadian. I live in Ontario. Ideally I’d like an ECN broker that allows hedging, has competitive spreads and commissions, reasonable margin requirements, a solid trusted reputation, and regulated by a legitimate authority. Unfortunately IIROC (the Canadian regulating body) doesn’t allow hedging. This basically means no Canadian broker will allow it. And from what I understand the margin requirements in Canada are so high that it would take forever to build a significant income with only a modest initial investment (say, $500 - $2000).
I’m willing to try an overseas broker but I can’t seem to find one that fits my criteria. Is it wishful thinking that one even exists? Am I just too picky? Or out of luck because I live in Canada?
Would love to hear thoughts and experiences from others. Especially other Canadians.