Searching for a Canadian broker...

[rainyevening]

Hello, everyone,

I'm coming to Canada soon and bringing money with me. I want to put it to a Forex account. Thinking about MFGlobalFX for the following reasons: with them, I can have accounts both in CAD and in USD; this means that I can open an account in USD, trade some, and then, when I decide that the time has come to convert all money into CAD, I'll be able to do so not with giant spreads Canadian banks offer, but for just 50 pips - half a cent, and then I'll be able to trade with CAD as base currency. Plus, MFGlobalFX is protected by CIPF (I would definitely not chose a company not protected by CIPF), is a solid international company.... As I read forum (and other forums before), it became clear to me that some clients of each and every broker write about their broker "this is the worst around.... thieves..." Maybe it's because Forex software is complex and malfunction occurs once in a while... Maybe some Forex companies just write BS about their rivals in forums... I don't know. I would be very grateful if some experienced traders with objective opinion about MFGlobalFX write me what they think. Or maybe offer me some better alternatives meeting the same criteria: option of trading in CAD and USD accounts; option of base currency conversion; CIPF membership. I can be also reached at xxxx20071@rambler.ru
Thank you!

 

[Miky smallz]

Best of luck with getting an answer as people here aren't to quick to offer suggestions, but would rather tell you to search the threads and view past post suggestions on experiences.

I found mgfinancial, MGFOREX, which I like there platform and have good customer service. They are located in New Jersey, but allow me in vancouver B.C., canada to have an account, as many good forex companies in the U.S.A. don't allow canadian accounts.

 

[Pharaoh]

Heaven forbid someone suggest reading a single thread that provides a method of finding a broker.

https://www.forexpeacearmy.com/forex-forum/forex-basics-boot-camp/2333-how-select-forex-broker.html

The method is simple, but requires more work than just accepting a recommendation from a random person who may or may not have a vested financial interest in which broker you go with. Of course, for those who are afraid of doing a little reading, work, and research, forex isn't a good choice.

A note for all Canadians - some of your provinces have laws that complicate things. I know of brokers who can offer services to only parts of Canada because of this.

 

[Miky smallz]

Yes but a little digging we can find your information without asking. A question has been asked for a random strangers to suggest a broker they are using that is satisfying there needs. Pretty sure everyone knows how to dig and do a little research.

 

[Miky smallz]

Heaven forbid someone suggest reading a single thread that provides a method of finding a broker.

To be helpful, suggest a Canadian broker you know or have heard from your years of experience that someone can look into without having to do a lot of reading or research.

Just my two cents