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I live in British Columbia and it seems as though it is hard to find a good broker due to BC's regulatory constraints. Are there any experienced day traders out there who can recommend a broker for a trader of futures commodities in BC? My platform is Ninja Trader. I have invested a lot of money on my computer, lessons, time, office space rental and i am now getting concerned i may not find a broker. Starting to sweat about this. I feel like i have found my calling but seem to have hit a brick wall just when i am starting to feel ready to go live.
Some help, direction would be really really appreciated.
Thanks,
Cisco.
Can you help answer these questions from other members on NexusFi?
I'm in DT Vancouver right now but I'll be going back to Toronto soon, depending on how much capital you have, I know (from the research I've been doing)
Cisco - In Alberta, I use OptionsXpress Canada and Interactive Brokers. From what I can tell, you should be able to use either broker in BC.
I am a little concerned about OptionsXpress Canada because they use Penson Financial Services as a clearing broker. The parent company Penson Worldwide is facing serious legal action and bankruptcy.
I am quite happy with Interactive Brokers, especially the low commissions. I use both live and paper trading accounts. I have not had a problem with autotrading at IB.
Len
mattz
Posts: 2,493 since Sep 2010
Thanks Given: 2,441
Thanks Received: 3,791
We allow all Canadian provinces but not BC and ON
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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Ktsr
Toronto/Canada
Posts: 2 since Apr 2012
Thanks Given: 0
Thanks Received: 0
RJ O'Brien in Canada can help with BC residents. They have Most trading platforms.
Rjobrien.ca
syxforex
British Columbia
Experience: Advanced
Platform: NINJA
Broker: ZEN
Trading: Crude
Posts: 1,091 since May 2010
Interactive Brokers is pretty awesome, got everything, and you can backend it with Ninjatrader. You also get the Canada Investor Protection coverage for your first Million if IB goes under. Absolutely your best bet IMO. But, if you want the super low day trading margins and span margining this you won't get. I have had accounts with Dorman Direct and Advantage while residing in BC, though I think I opened both from Ontario, can't remember. Advantage rules. Dorman is good too. My Xtrader connection with Advantage was absolutely wiked fast. IB though, that's the best way to go. They aren't going under and if they do use the customer funds you are covered... In the case of MF Global no Canucks lost any part of their first Mill.. and where is Corzine now? Weird how that just went away...