Good Futures Brokerage in Canada? - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


Notices

Good Futures Brokerage in Canada?
Updated: Views / Replies:41,088 / 54
Created: by olobay Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Good Futures Brokerage in Canada?

  #51 (permalink)
Membership Temporarily Revoked
Canada
 
Futures Experience: Intermediate
Platform: NinjaTrader & Jigsaw
Broker/Data: Rithmic
Favorite Futures: ZB UB
 
Posts: 143 since Dec 2016
Thanks: 86 given, 60 received

Lol that's what I was thinking of sorry thanks ^


Sent from my iPhone using futures.io

Reply With Quote
 
  #52 (permalink)
Elite Member
Toronto, Canada
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: GFF Brokers
Favorite Futures: ES, NQ, GC, CL
 
Posts: 7 since Feb 2016
Thanks: 1 given, 1 received


Raider View Post
Deep discount trading, stage 5, interactive brokers, global futures, ningabrokerage for BC. Or set up an llc in the states for other brokers, tradeovate for example


Sent from my iPhone using futures.io

If set up an llc in the states, how will impact tax file in Canada? is the 50% taxable capital gain still applicable?

Reply With Quote
 
  #53 (permalink)
Elite Member
Victoria, BC
 
Futures Experience: Master
Platform: Tradestation Multicharts
Favorite Futures: es
 
Posts: 18 since Oct 2011
Thanks: 6 given, 13 received


I am going through this also, and from what I have learned having an LLC in the states is not a good option. For example, it would be subject to an estate tax in the event of death, etc. I currently have a Delaware LLC and am dissolving it. I am starting a Canadian Corp (in BC) and will invest through that for tax purposes. I am anticipating difficulties opening futures accounts, but I have a lot of history and do a lot of volume. We'll see

Reply With Quote
 
  #54 (permalink)
Elite Member
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
aquarian1's Avatar
 
Posts: 3,542 since Dec 2010
Thanks: 1,374 given, 2,141 received


waveslider View Post
I am going through this also, and from what I have learned having an LLC in the states is not a good option. For example, it would be subject to an estate tax in the event of death, etc. I currently have a Delaware LLC and am dissolving it. I am starting a Canadian Corp (in BC) and will invest through that for tax purposes. I am anticipating difficulties opening futures accounts, but I have a lot of history and do a lot of volume. We'll see

I think you might need to think this through.


If you are at the highest personal rate in Canada (combined provincial and federal of 52%) then if you make
$10,000 capital gains profit, 50% is Taxable Capital Gains (or $5,000) and tax payable on that is ($5,000*.52=) $2,600. (see Schedule 3).

The corporation will pay the corp rate (~40% depending on the province if provincially incorporated) on profits (*) and losses are contained within the corp. If your corporation pays 40% and that is (10,000*.40=) $4,000. Then should you withdraw dividends from the corporations - ie pay yourself) you will pay tax on this at a personal level. Taxes are paid twice.

Also to note CRA has a general anti-avoidance look-through for personal corporations such that if the purpose of the corporation was to reduce taxes it will "see through" the corporation and tax you as if the corp didn't exist.

You can telephone the CRA and ask questions anonymously.
e.g. If a personal corp is set-up for investing .... etc

(And no they do not give you an advance tax ruling but yes they are required to explain how the tax act would apply to a situation you describe. And you can ask for the sections they are referring to and then read about it in the CCH handbook on the tax act at your local library - which is what they use. However, what you propose is quite simple).

----------
(*) I am assuming the profits are income for the corporation. If you have another main source of income for the corporation and these are capital gains for the corporation then 50% of the above (I believe) I have not read up on corp taxation. BTW non of the above is "expert" opinion - just a heads up based on my understanding of the tax regs.

Keep your mind in the future, in the now.

Last edited by aquarian1; June 5th, 2018 at 03:07 PM.
Reply With Quote
 
  #55 (permalink)
Elite Member
Point Roberts, WA, USA
 
Futures Experience: Advanced
Platform: IB and free NT
Broker/Data: IB
Favorite Futures: ES
 
aquarian1's Avatar
 
Posts: 3,542 since Dec 2010
Thanks: 1,374 given, 2,141 received

One of the few ways to defer taxes (for Cdns) is with an RSP (Cdn version of IRA).

Contributions are tax deductible in the year of contribution (+60 days meaning end of Feb). You pay taxes when you withdraw money in later years on what is withdrawn. A wide range of instruments are permissible but I believe futures and put options are excluded.

Keep your mind in the future, in the now.
Reply With Quote

Reply



futures io > > > > Good Futures Brokerage in Canada?




Upcoming Webinars and Events (4:30PM ET unless noted)
 

Fundraiser: Feeding Families in Need

December
 

How to use the Footprint Tool to Execute Trades w/Brannigan Barrett

Elite only
 

Ask Me Anything (Brokers & Platforms) w/Ilan Levy Mayer @ Cannon Trading

Dec 13
 

Battlestations! Show us your trading desks w/GFF Brokers ($750 in Prizes)

January
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Is Thinkorswim a good Platform for Futures Trading? rcs9234 ThinkOrSwim 197 February 25th, 2018 08:31 AM
Tradestation futures brokerage -- good or bad? tortoise Reviews of Brokers and Data Feeds 14 September 7th, 2014 03:02 PM
Brokerage cash sweeps of futures contracts sales heywally Reviews of Brokers and Data Feeds 8 January 11th, 2012 08:54 AM
Isn't this good enough? (Beginner futures trading) Ravanous Traders Hideout 23 November 7th, 2011 07:35 PM
Recommed NT supported brokerage with good banks. COTtrader Traders Hideout 11 June 17th, 2010 04:43 PM


Tags
6e, ameritrade, amp futures, bad fills, bankruptcy, broker, brokerage, brokers, chat, cl, commission, cqg, data, data feed, datafeed, day trading, dorman, dorman trading, dow, drawdowns, email, es, es futures, forex, futures, futures broker, gom, historical data, information, interactivebrokers, java, low commissions, mfglobal, mirusfutures, mirus_futures, ninjatrader, nt7, pfg, pfgbest, reduce risk, rosenthal, search, spread, swing, tapatalk, td ameritrade, think or swim, tos, trade live, trading, type, us brokers, us futures, volume, workspace, zenfire

All times are GMT -4. The time now is 09:52 PM. (this page content is cached, log in for real-time version)

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-12-10 in 0.12 seconds with 14 queries on phoenix