cfd brokers in Canada?

[antonioz]

hello everyone, I used to live in the UK and was trading with markets.com , however I recently moved to Canada (british columbia), and markets.com told me I can't trade from here with them. I am now researching a new cfd broker which would allow me to trade from canada, I found CMC markets but they don't use metatrader, Oanda seems good too but they don't offer too many instruments, it looks like AVA trade could be the one? any suggestions on either AVA trade or a good broker which allows trading from canada and uses metatrader? thank you! Antonio

 

[antonioz]

all right I narrowed them down to Oanda and Ava Trade, Oanda doesn't have many instruments to trade, but it's regulated in canada and it seems to have better reviews, Ava trade offers a much wider range of instruments, but I don't think it's regulated in canada (even though they allow trading from canada) and the reviews seem pretty bad, any suggestions of which one of these 2 is better?

 

[dermotobrien]

From what I understand and have read over the internet - Canada is becoming like the US and not allowing their citizens to trade with brokers outside of Canada.

Unless you find a broker with a low regulation, there's a good chance at some point they'll kick you out anyway (Ava trade).

Probably best to stick to a broker in Canada, or if you don't mind too much about regulation, use a broker that is unregulated and accepts Canadians and won't kick you out anytime soon.

 

[gerryg]

all right I narrowed them down to Oanda and Ava Trade, Oanda doesn't have many instruments to trade, but it's regulated in canada and it seems to have better reviews, Ava trade offers a much wider range of instruments, but I don't think it's regulated in canada (even though they allow trading from canada) and the reviews seem pretty bad, any suggestions of which one of these 2 is better?

I heard some bad feedback about Ava Trade (delaying withdrawals, hampers news trading), Oanda is a Market Maker on OTC instruments (they clearly state they're execution venue for their client orders). So beware.
I'd suggest you t check some local brokers .

 

[antonioz]

thanks for your answer, sorry for the newbie question, can you clarify what it means market maker on otc? is it bad? I don't think there are many options for cfd trading in canada I'm afraid

 

[antonioz]

forex.com also accepts residents of canada, it seems like it has good reviews, any thoughts on it? thank you again!

 

[progix]

Not sure about the rest however I am trading with lmfx broker with no complaints so far and I had noticed that they are also accepting traders from US and Canada.

 

[idht]

forex.com also accepts residents of canada, it seems like it has good reviews, any thoughts on it? thank you again!

I posted about my experiences with forex.com here: https://www.trade2win.com/threads/forex-com-gain.221986/#post-3159228

 

[Henow1969]

I think FOREX,com also offers its services in Canada too and it is regulated in UK, USA and Canada.