Hello everybody,
I was wondering what broker fellow traders residing in Canada (Ontario) use or anybody with some experience trading reside would urge. I have looked into;
Oanda:
Pros - CAD based account
Cons - Tremendous spreads, MM, just 1 withdrawal per month prior to incurring additional fees
IC Makets:
Pros: good spreads, controlled, CAD based account, decent commissions
Cons: Only wire withdrawals $20 each
Pepperstone:
pretty much equal to IC.
FXOpen
Much like the previous two.
Tickmill
Pros: best spreads out of everybody, supposedly free cables, best commissions
Cons: less-than-legit law
Interactive Brokers
Pros: Professional level broker, good commission, easy/cheap EFT withdrawals
Cons: transactions settle in base currency of pair , minimal commission and trade size per trade, inactivity fees etc etc..
FXCM(friedberg)
Pros: nothing actually
Cons: Huge commissions, just Wires it sounds
Questrade
bit of a joke for Currency Market
It seems that finding an proper broker is tougher that I initially anticipated. As a canadian if I be looking into a broker that offers CAD based accounts? How do you guys deal with withdrawals? $20 a wire appears costly as a method for withdrawals that are routine. You men in Australia appear to be rather well off using the brokers and their bank transfers! They only thing that comes close for Canadians seems to function as Brokers.
If anybody has an opinion or can offer some guie based their own experiences I would greatly appreciate it!