Hi, I live in Alberta Canada and am new to forex trading. Is there a good international broker who will accept Canadians as clients? Any recommendations or opinions would be greatly appreciated? Thanks
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A lot of international forex broker stopped doing business in Canada because of all the laws and regulations (Exness,XM for example) so I think your best bet would be a local business such as Questrade.
I’m in Canada and use Vantage FX. Check them out.
Pretty sure it’s just BC that’s under a different set of regs but like stealthepips says, plenty of brokers are pulling out. I’ve spoken to Vantage and they assure me that their Canadian traders aren’t going anywhere.
Hey Badem,
Vantage FX are still happy to service Canadian traders in all provinces bar BC.
We get the question whether we are pulling out of Canada in anticipation of regulatory changes a lot, and we assure you that we’re not going anywhere.
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international ? hmm… OANDA was founded in Toronto 20 years experience IIROC (Canada) regulated NFA regulated FCA (UK)
Just found out that Pepperstone are no longer taking Canadians. I’m concerned this panic will spread to all the Australian brokers as it has the UK brokers. Awful.
Interesting, I didnt know about VantageFX, thanks for the tip!
Vantage are a great broker, highly recommended
I too am a Canadian customer who was just with IC markets until they said they cut off all Canadian clients. What is Vantages leverage?
there are still lots of brokers out there serving Canadian. most important thing to check before you decide is to find out if they are being regulated, FCA or ASIC only, never go with cysec. also to check if they have PI insurance and trust account to keep client’s money.
ASIC and Cysec regulated brokers are not accepting Canadian residents…i will confirm for FCA and post as well, as most of the regulated brokers have stopped accepting Canadian Traders (Same as USA residents)…the only other option is to go with unregulated Offshore ECN (very important that they should be ECN and not market makers) brokers with good reviews and trusted trader experiences.
@Warpaint27 I will research more and get back on this thread.
Im still looking also.
After trading with FxPro, Pepperstone, and IC Markets, nothing seems to come close.
All I am looking for is a broker with 200 or more leverage, ECN low spreads, and CAD account type.
If anyone can recommend a broker like this please do!
@Raujla Fxpro, Pepperstone,IC markets all 3 of them do not accept clients from Canada or USA.
You can check this thread for brokers accepting clients from Canada and USA
About 5 of the Brokers on thread are trusted brokers
I have an account with a broker on this thread and everything is going smoothly with them.
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@Warpaint27 Hello
Yes a lot of brokers across the world have stopped accepting clients from Canada and USA, only a handful of them are accepting Canadian and US residents.
You can check this thread for the ones that do accept Canadian and American clients
I have an account with one of the Trusted brokers on their list and i am quite happy with their services so far.
hmm…I am not advertising or whatever, I am working with one of the Australian platform but we are still accepting Canadian clients as we speak. Maybe you can try to register to see if it works.
Presently I have a live account at FP Markets and demo accounts at AXI, Global Prime and BlackBull Markets. I am very confident with FP Markets witch is ASIC regulated and very well perceived. Global Prime and AXI are ASIC regulated but have some issues and warnings from ASIC in the past. BlackBull is from New-Zealand and is regulated by FMA.
What do you think about the FMA regulation vs ASIC?
I know that under ASIC regulation brokers have to segregate the customers accounts into a tier 1 bank but not sure about the FMA regulation. Seems to be less strict.
Qtrade investor is a good option for Canadians. If you want to go offshore then you can explore fxview, the broker I’m currently using and finding it to be good for day trading. The live price charts, spreads, scanning tools are commendable. Try their demo and see if it works as well for you as it does for me.
Do they have forex instruments to trade?
I recall Forex.com, Oanda, IB and I think CMC Markets offering forex trading out of Canada. IG is a no go I believe.