Hi, I am looking into opening a TSFA forex account. Is that possible? Any recommendation? Thanks
Hi Jin, welcome! I am from europe and had to google tsfa (Texas State Florists’ Association and the Tennessee Smoke Free Association) so I am no resource for you. But try to PM Clint. He is more educated in US accounts, perhaps he has some suggestions for you.
Hey Jin,
I have looked into this too and so far I have yet to find one. You can open a trading TFSA account with a few brokers here, namely TD, QuestTrade (I think) and a few others, namely big banks.
I don’t know about other countries, but a Tax Free Savings Account (TFSA) is what we have here in Canada.
Hope this helps.
I am pretty sure you cannot trade forex in a TFSA. An investment in properties, including money, guaranteed investment certificates, government and corporate bonds, mutual funds, and securities listed on a designated stock exchange. The types of investments that qualify for TFSAs are generally similar to those that qualify for registered retirement savings plans. Check with your accountant or tax specialist though.
Agreed, if we could trade forex with a TFSA, I would already have opened one 
It’s now 2017, and I believe both Questrade and Interactive Brokers offer TFSA trading accounts. However, I have no idea how either of them are as far as a brokerage!! I am completely new to forex and am still searching for a Canadian-regulated broker, also ideally offering TFSA.
If anyone had any experience with either of the brokers, please let us know!
Quite an old thread but never mind.
IB (interactive Brokers) is actually one of, if not the best, brokerage providers that any retail trader can use. However, the account opening process is thoroughly due diligent, and the minimum account opening requirements are exceptionally high for the average retail trader.
Last time I looked at the back end of last year the starting deposit to open an account came in at $15,000 with a minimum net worth of $100k - which had to be proved to IB.
At the end of the day, IB have won many awards from Barrons, but they clearly have focus on facilitating the high net worth individuals and institutional players.
This is not the sort of broker you would go to for a play around account when learning.
The big difference with IB is that you are participating in the underlying market - which doesn’t happen with retail brokers. Then again, IB is not really a retail broker by definition.