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Broker selection for an Ontario Resident


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Broker selection for an Ontario Resident

  #1 (permalink)
karohm
Toronto, Ontario
 
Posts: 11 since Feb 2021
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Thanks Received: 1

Hello everyone,

Currently I am residing in Ontario, Canada and I have been using interactive brokers for the past one year to trade mostly futures.

Originally, I am from India where brokers are pretty trustworthy and mostly you can blindly trust them.

A little by little I picked up how the market works in America and only came across to know IBf in Canada ( their platform is complete garbage for mac).

Recently I got to know about two brokers which are GFF Brokers and AMP Futures, they have pretty good margin rates for day trades and also a few options for the platforms I believe. But I wanted to ask if these brokers are trustworthy since currently I am trading with account size of 100k ( which is a big amount for me ), their websites also look kind of very old which I find it sketchy. I also see a lot of relevant posts about these brokers in this forum. Are these brokers as trusted as lets say Wealthsimple for Canada or Robinhood from the States ?

I also don't understand what they mean by my trades will be cleared through "IRONBEAM"?

All the help is much appreciated

Thank you,

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  #2 (permalink)
Rockyfx
Canada
 
Posts: 1 since Mar 2014
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Have you considered TD.com for direct investing ?

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  #3 (permalink)
 markmenard 
Edmonton Alberta Canada
 
Experience: Advanced
Platform: NinjaTrader
Trading: Futures
Posts: 10 since May 2014
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GFF with Ironbeam with Ninjatrader. Probably your only option if you want decent margins to trade futures.

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  #4 (permalink)
karohm
Toronto, Ontario
 
Posts: 11 since Feb 2021
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Thanks Received: 1


Rockyfx View Post
Have you considered TD.com for direct investing ?


TD doesnt have futures for Canadians

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  #5 (permalink)
karohm
Toronto, Ontario
 
Posts: 11 since Feb 2021
Thanks Given: 0
Thanks Received: 1


markmenard View Post
GFF with Ironbeam with Ninjatrader. Probably your only option if you want decent margins to trade futures.

Hey ,

GFF opened my acc with advantage futures with sigma360 platform for mac. Since I was using IB until now and they have all the currency conversions and everything altogether it was easy to interpret the statements for tax purposes I believe,

Do you find complications in taxation due to trading with a cross-border broker ?

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Last Updated on October 4, 2021


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