It’s only illegal if they catch you lol… A broker would probably open an account for you if you said that you resided in B.C. and provided a B.C. address.
I really want to open a live account? Has anyone done it before? What will happen if they find out?
You can open an account with an offshore broker… Try an Australian one first (pepperstone comes to mind)… Look hard enough and you’ll be able to find a broker that will take you.
As far as legal consequences… I have no idea. I would guess a fine would be the extent of it.
ok cool.Thanks man…I am going to call securities commission first. This is very stupid. I am so mad
There is a thread on here “how to escape the CFTC” … This lists offshore brokers that take US clients… Give these brokers a shot and I bet you’ll find one on there that works for you.
THANKS. Only problem is i am very familiar with fxcm tradestation. I am not good at mt4. I dont know what to do now…May be i can get my cousin from overseas to open an account for me…
The USA Declaration of Independence describes better than anything the proper role of government. Us Canadians have allowed our government to decide what we are free to do and what we are not free to do. The truth though is that our Creator made us free, so government has no right to tell us that we can’t do something that our Creator says we can do. Government’s should exist to preserve liberties, not take them away:
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. — That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.”
I have given up on Forex trading for now, after wasting $79.00 on a Rich Dad Forex course.
what? i think my friend in Calgary trades FOREX. How is it banned? they cant stop you
Hi I have been trading a live account in Ireland for 2 years now.They aren’t to worried about it.
How long has this been a law? This is the first that I heard of it.
So correct me if I am wrong, but as I understand it, trading forex in Albert is illiegal because too many precious bleeding hearts lost money by being dumbasses and trying to trade whilst not knowing how to trade properly?
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Giving this thread a bump.
Anyone in Alberta trading with a forex broker?
Our government likes to pretend that it cares for us every once in a while, by telling us we can’t do something because it’s “bad” for us. I’d like to know why the government [B]really[/B] goes after cigarettes and why they [B]really[/B] go after Forex traders.
The law is set by Alberta Securities Commission … any and all FX brokers would have to comply with the regulation … otherwise they get banned from getting any and all traders from the province. Its not FXCM or Forex.com related …
You will have to get alternate identification to trade FX if you are not accredited. Lame. They should be smart enough to know that people are going to circumvent it some how.
Is there a link to this info?
I just spoke to a representative at Forex.com Canada and they are accepting Alberta residents. Minimum deposit $250.
More than likely your comment doesn’t prove anything. I wish it did though.
Oh yes they can stop you. My last account was with FXCM in the UK. This spring I received a notice. I had 30 days to prove I was an “accredited investor” or they would close my trades,my account and refund my money. Which is what they did. Ironically the definition of “accredited investor” just means someone who 1) has a lot of money 2) makes a lot of money 3) Is a mutual fund salesperson.
Use a VPN…
I am in same boat and am considering starting a petition to change this fascist law…how can we get started ?