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Newbie from Canada needs help to starting trading options
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Newbie from Canada needs help to starting trading options

  #1 (permalink)
Trading Apprentice
Saskatoon, Saskatchewan
 
Futures Experience: Beginner
Platform: Qtrade
Favorite Futures: Stocks
 
Posts: 2 since Feb 2015
Thanks: 0 given, 0 received

Newbie from Canada needs help to starting trading options

Hello forum,

So, a bit of background, I have been trading equities for a few years and I farm a little and am now wanting to hedge some of my production and currency exposure. I am in Canada. So I have been considering getting an IB account to trade grain and currency options. I will probably be taking some spec positions while I am at it.

Does anyone know if IB allows CA$ accounts to trade the RS ICE contracts. Does IB trade the RS ICE contracts? Just in case people are not familiar with the RS ICE contracts, its the Canola contract out of Winnipeg.

A bit unrelated but, is there any opinions to the advantages of switching from the discount broker I use for equities to IB?

How are gains from options handled for taxes given IB is a US broker and I am a Canadian? I should probably look in my tax text sitting on my shelf.

Any advice on opening an account to trade commodities? Other brokers to consider that serve clients from Canada?

Really any advice at all would be greatly appreciated.

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  #3 (permalink)
Market Wizard
Linz Austria
 
Futures Experience: Advanced
Platform: Zaner360, TWS, Vantage
Broker/Data: DeCarley, IAB, RJO
Favorite Futures: Commodities
 
Posts: 1,308 since Nov 2014
Thanks: 1,608 given, 1,576 received
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DanSK View Post
Hello forum,

So, a bit of background, I have been trading equities for a few years and I farm a little and am now wanting to hedge some of my production and currency exposure. I am in Canada. So I have been considering getting an IB account to trade grain and currency options. I will probably be taking some spec positions while I am at it.

Does anyone know if IB allows CA$ accounts to trade the RS ICE contracts. Does IB trade the RS ICE contracts? Just in case people are not familiar with the RS ICE contracts, its the Canola contract out of Winnipeg.

A bit unrelated but, is there any opinions to the advantages of switching from the discount broker I use for equities to IB?

How are gains from options handled for taxes given IB is a US broker and I am a Canadian? I should probably look in my tax text sitting on my shelf.

Any advice on opening an account to trade commodities? Other brokers to consider that serve clients from Canada?

Really any advice at all would be greatly appreciated.


I trade commodities with DeCarley and RJO, and I am happy with both of them. DeCarley offers best service I ever received, and RJO offers - besides good service - excellent research materials.

Best regards, Myrrdin

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