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Looking for a Canadian broker to assist with selling options on commodity futures
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Looking for a Canadian broker to assist with selling options on commodity futures

  #1 (permalink)
Kamloops, BC
 
Trading Experience: Beginner
Platform: QTrader
Broker/Data: Cannon Trading
Favorite Futures: Commodities
 
spoolmak's Avatar
 
Posts: 8 since Dec 2017
Thanks: 3 given, 3 received

Looking for a Canadian broker to assist with selling options on commodity futures

I'm looking for a Canadian broker to assist with selling options on futures. I've inquired with an RBC office in Edmonton and they want a minimum deposit of $70K to begin trading. Anyone have any ideas? I've seen some negative feedback about Interactive Brokers, so am reluctant to make an inquiry there. I have an email in to RJ O'Brian. Anyone have any feedback on them?

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  #2 (permalink)
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  #3 (permalink)
Dayton, Ohio
 
Trading Experience: Beginner
Platform: TOS
Favorite Futures: GC, CL, Eurodollar
 
Posts: 34 since Nov 2017
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Although they're not the cheapest place around (though they will adjust commission rates based on trading levels), what about Canada's own - TD Ameritrade?

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  #4 (permalink)
Kamloops, BC
 
Trading Experience: Beginner
Platform: QTrader
Broker/Data: Cannon Trading
Favorite Futures: Commodities
 
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Posts: 8 since Dec 2017
Thanks: 3 given, 3 received


bulge View Post
Although they're not the cheapest place around (though they will adjust commission rates based on trading levels), what about Canada's own - TD Ameritrade?

Hi Bulge. I checked with a Canadian office of TD Ameritrade, and all they'll trade options on in Canada is stocks; they won't do options on commodities. In the meantime, I've discovered that Cannon Trading out of Beverly Hills can help, regardless of the challenges with Canadian rules/regulations. Thanks for your response!

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  #5 (permalink)
Canada
 
Trading Experience: Intermediate
Platform: Qtrader,NT8,Sierra
Broker/Data: Dorman/CQG
Favorite Futures: NQ, ES Options, VX, ES, ZB
 
Posts: 202 since Aug 2013
Thanks: 28 given, 178 received

realistically, IB is probably your best option

You might be able to open an account with a US based futures broker, depending on what province you are located in and for selling futures options then I would recommend one of the CQG platforms like Qtrader

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  #6 (permalink)
Kamloops, BC
 
Trading Experience: Beginner
Platform: QTrader
Broker/Data: Cannon Trading
Favorite Futures: Commodities
 
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Posts: 8 since Dec 2017
Thanks: 3 given, 3 received


Japhro View Post
realistically, IB is probably your best option

You might be able to open an account with a US based futures broker, depending on what province you are located in and for selling futures options then I would recommend one of the CQG platforms like Qtrader

Hi. I've heard some quite negative things about IB, so have been reluctant to look at them as a broker. I've been able to get in touch with Cannon Trading, and it looks like I'm going to be able to work with them. Thanks very much for getting back to me!

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  #7 (permalink)
Canada
 
Trading Experience: Intermediate
Platform: Qtrader,NT8,Sierra
Broker/Data: Dorman/CQG
Favorite Futures: NQ, ES Options, VX, ES, ZB
 
Posts: 202 since Aug 2013
Thanks: 28 given, 178 received

Just curious what you heard. I had an IB account for about 4 years and never had any issues with them. The platform isn't great but you can use a lot of other platforms to chart along with IB execution

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  #8 (permalink)
Ottawa Canada
 
Trading Experience: Advanced
Platform: nt8,tws
Broker/Data: Interactive Brokers, CME EQUOTES
Favorite Futures: YM,ES
 
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Posts: 5 since Jul 2017
Thanks: 36 given, 21 received

Interactive Brokers

I have had an account with them for 12 plus years , never have had any issues with them. Although I focus on index futures, I have traded options with them and they clear most of the time in seconds.
Other than your account must be property funded and margins within exchange minimumsthe platform works great!!!

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  #9 (permalink)
Point Roberts, WA, USA
 
Trading Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
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Posts: 3,695 since Dec 2010
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I've had an account with IB for many years - I really hate them.

Keep your mind in the future, in the now.
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  #10 (permalink)
Point Roberts, WA, USA
 
Trading Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
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Posts: 3,695 since Dec 2010
Thanks: 1,451 given, 2,305 received



bulge View Post
Although they're not the cheapest place around (though they will adjust commission rates based on trading levels), what about Canada's own - TD Ameritrade?

You can't use TD Ameritrade if you are in Canada - you have to use TD Waterhouse and it doesn't let you trade commodities.

Keep your mind in the future, in the now.
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