So once I’m up and running, six months minimum of having made consistent profits with my play money it will come time for me to hook up a real account and go live. At that time I will be faced with a small logistical problem.
I have a Canadian bank account, and I presume I must pay for my margin with Canadian dollars. Does this mean
I can only trade USD/CAD pairs?
I must make a separate new bank account exclusively for this activity, or should in all practical wisdom?
must deal only with Canadian forex brokers, or should for lower transfer fees, etc?
How does the nationality of your bank’s host country relate to your activity with the broker?
No, no (maybe but unless you are going the bank guaranty route I wouldn’t bother), and no (stay away from them atm, from what some here are saying).
Most brokers let you choose your account currency (makes tax time easier if it is the same as your residency), but other than that it doesn’t affect it.
Some brokers do have some limitations on which pairs you can trade based on your choice of account currency (really rare account bases get some limitations on how many pairs are available) but as the CAD is a large currency you should face no issues.
In my trading platform you can change account currency in about 3 mouse clicks as often as you want.