Does IBKR charge any fees to do a ATON (partial transfer) of some cash to Questrade?
I'm trying to withdraw $5K CAD, however Interactive Brokers support said that I need to "wait 60 business days" before I can withdraw these funds, as they are to a non-originating bank account. This is frustrating. I'm new to IB, so didn't realize this might be an issue. Here's a quick summary of what I'm trying to do:
I deposited USD from my USD-denominated TD account ("Bank Account 1") into my IB margin account
I then converted some USD to CAD; I have around $5K CAD sitting in cash in my IBKR account now
I would then like to withdraw CAD to my CAD-denominated TD account ("Bank Account 2") <--- THIS triggered a 'rejected' notice
I'd rather not wait 60 business days to withdraw this cash. I see that I could possibly do an ATON transfer, and transfer the $5K CAD cash from my IBKR to my Questrade account...and THEN withdraw the cash from Questrade to my Bank Account 2. What is the IBKR fees to do this ATON partial transfer? I am not able to find this info anywhere...
For Canadian Clients of VantageFX (or Canadian Forex Traders in General)
As you likely already know, VantageFX will no longer service Canadians residents as of Nov 30th. This is unfortunate, since VantageFX has done an excellent job serving Canadian clients with higher leverage account options from a well regulated and trusted broker. Through contacts in the industry, we've been made aware of a new retail account offering at Pacific Union. Pacific Union has a good history of servicing institutional accounts and has only just started taking on retail clients, but they are positioned to service the Canadian clients in the space that VantageFX has left behind. Further, we were made aware of Pacific Union first by contacts at VantageFX, and then this recommendation was backed up by a trusted source who works closely with both companies. Again, to be very clear, this post isn't to give undue attention to some random broker.. we are providing this info because Pacific Union is a proper alternative for Canadian based traders that will no longer be serviced by VantageFX. On that note, I've updated the wiki to include Pacific Union Prime - https://puprime.com: Subreddit's Canadian Brokers Wiki Page The only major difference I have noticed so far is lacking MT5, but the word is that Pacific Union will be reviewing MT5 and other enhancements to their offing next quarter after they get past the launch of their retail offering. Key highlights from my perspective:
Up to 500:1 leverage available for Canadians, and while that much leverage may not be needed, even just 100:1 is decent compared to ~33:1 leverage set by IIROC with onshore brokers.
Client funds are segregated at an Australian bank, so you're getting some overlap of Aussie banking / regulatory rules and that's a huge plus when it comes to safety of funds and the finance side of things
No fee on credit card deposits / withdrawals, and no fee on Visa Debit and MasterCard Debit deposit / withdrawals. Transactions are completed within 30 minutes.
No fee on Interac e-Transfer deposits.
Remember, going offshore means you lose CIPF protection on funds, so a well vetted and properly regulated broker is a must! UPDATE #1: Oct 6th: Took this post off sticky and redacted some info as the connection between VantageFX and Pacific Union Prime was not "official". Pacific Union is still a great alternative / replacement for Canadian clients seeing higher leverage accounts and who are no longer serviced after VantageFX left Canada. UPDATE #2, Oct 8th: Adjusted this thread again to best reflect where Pacific Union Prime fits with VantageFX and former Canadian VantageFX cleints.
No Agent Taobao Direct Buying Guide! Let's view all baby and determine
Taobao Direct Guide for users familiar with 3rd party agents and navigating taobao (with chrome google translate on, hence the title)
Taobao direct consolidation and shipping is available in the following countries: USA, Canada, Australia, New Zealand, Japan, Malaysia, Singapore, Hong Kong, Macau, Taiwan. This review is primarily geared towards the US as that’s where I live.
What is Taobao direct? Basically instead of copying and pasting the item URL into the agent website, you add items to your cart like a regular ecommerce site, check out, wait for items to arrive in the warehouse (similar to what happens when you use an agent) and then when all your items from various sellers are in, you request the logistics company to send everything to you. Disclaimer: I have no Chinese fluency written or otherwise. I did everything through Google translate and my experience with how tb works through agents. If something goes wrong I will probably write off the item 🤣 if you communicate a lot with the ts who use translators it also helps get your point across. If you type in English in tb live chat they will redirect you to the HK/tw help staff who have medium English. Also I bought items I purchased previously with an agent or vouched for here on RL or had crazy high reviews/ratings. Pros:
Duck the agent fees and exchange rate bs
Shipping is cheaper but EMS is the only option right now
If you are overcharged for shipping you can get a refund
It’s also easier to collect the discounts and coupons from stores (ymmv with agent)
Not good for reps or mainstream branded rep items as they can be marked as contraband by taobao and then you have to get a refund and return to the seller
You pay 5% sales tax (see note at the end) and 3% on the total payment through alipay with a foreign cc (regardless if your cc does not charge forex)
No qc pics and can't really control the declared value if that matters
Other categories of items like make up brushes, liquids, powders, sharps, etc. are not eligible
20 day hold limit apparently every day after that is charged 1 yuan per item per day
I think the ideal usage for taobao direct would be light items like innerwear, jewelry, soft/non fragile goods, generally clothing and shoes although I don’t know if they will include the box by default. Please see here for the image guide for ordering Sorry in advance if my descriptions are wonky, I'm not great at following OR writing instructions but hopefully the screenshots make it easier to follow along.
Create an account (there are various guides out there for overseas members) and go into your account and add your home address (or the superbuy warehouse address)
Find your items and change the delivery location to "overseas", add to cart
When you're ready to check out hit check out, enter your cc info on the alipay (remember to use a card that doesn't charge foreign transaction fees) and confirm it goes through.
Wait for all your stuff to come in. When its in the tb warehouse it will show up in the "consolidated delivery" section tagged with a weight (usually volumetric or actual). The 20 day countdown will start once its available for international shipping.
After all your items are in, or you can batch up by selecting items on the consolidated delivery page, submit for delivery. Pay again through alipay.
Use the check logistics option to get the tracking info and wait for your haul!
After receiving but before you open, take photos of it on a scale and the lxwxh with a ruler as well. This is because they will overestimate your shipping but there isn't rehearsal shipping like with agents. You can request a refund after the fact with the "refund/complaint" option on the consolidated delivery page (mine says check refund because I've already gone through it)
Getting a refund: select the "only refund" option, "goods received" and "shipping cost does not match" and leave the full shipping amount in. Upload your measurement and weight photos (make sure the file size is not too big). Within 72hr they will reply and ask you to modify your application with the real amount owed (if any). It will go back to your cc through alipay (may take a few days).
Cost comparison: Even after the 5% sales tax and 3% alipay, it cost me $6.20 total from my credit card statement. A 39 yuan top up for sb is $6.53 as of today (if using paypal). For some the qc pictures and the longer storage period are well worth the difference. However a good compromise is the parcel forwarding option in sb. Instead of shipping to your house you can set up superbuy’s warehouse address and pay in taobao and wait for your items to show up in sb. You also have to submit the item link and the tracking # in superbuy so they can find your stuff. There's no sales tax and usually no shipping and you can select the coupons you want. I had a pair of pants make it to the sb warehouse almost 24hr after ordering, and another 24hr after entering my shipping info and item link in sb, it showed up in my account with free (non hd) pictures of the item. Then I cried putting together the shipping parcel lol. This is a good way to dodge the sales tax and hold items for longer. However then you're at the mercy of the shipping costs (but you do have more options for delivery lines and you can customize how you want your items packaged too). The taobao warehouse will really throw everything in there, probably in a poly envelope. The taobao shipping rates are 90yuan for the first .5kg and 48 yuan per every .5 after which is very competitive even after accounting for volumetric weight. Sb ems starts at 186 for the first .5kg and 61y every .5kg after. Of course rates and terms are subject to change with the times. I had a package that came in at 277g when I measured it at home but I was charged for 1.6kg. After sending in the package images they refunded 144yuan (the true volumetric weight was about .97kg.) Taobao volumetric calculation is lxwxh (cm)/6000. Timeline wise I submitted 8/16 and received 8/28 although I think because it was so light they used epacket/china post because it was not an EMS tracking # big sigh. Still less than 10 days can't complain. Hope this helps! I'm sure I missed something on this guide so feel free to leave any questions and I will update the post accordingly. Apologies this is very us-centric, I also cannot comment on getting a refund or exchange from sellers before you ship out but there is now english support (albeit a bit wonky) through chat and aliwangwang+google translate can get you pretty far. Ps: highly recommend using the app too as its easier to get chat messages from the seller. You can screenshot and upload images to Google translate to read the text.
The scene: I receive an email from my father. He sent me this link: https://cayarekylajules.gitlab.io/julescayarek/?placement=silverprice.org&creative=476738494285&campid=11533504265&gclid=EAIaIQobChMIu-_F-aH27AIV8QFoCB3HOQY8EAEYASAAEgKq6fD_BwE This was my response: --- If it seems too good to be true, it probably is. If your "investment" strategy seems akin to placing a bet in a casino, then you're not really investing. You're gambling. The significance of seeing a world government backing a cryptocurrency is high. Presumably it would be a cryptocurrency designed and supported by that country's central bank. Many countries (including Canada) are currently working on such projects. The catch though is that governments are not interested in careless speculation. They want stability in their national currencies. There are already several cryptocurrencies out there that are designed as "stablecoins," ie. they are designed to try to be pegged to the USD or Euro. So obviously a cryptocurrency that is designed to be pegged to fiat will not see any significant appreciation, save for marching in lockstep with the pegged national currency. There are still a lot of good uses for digital stable-coins, as opposed to traditional fiat. They would work very similar to current fiat currencies, and their stability would be an asset to certain classes of investors. Currently, they are used when investors/speculators think that other cryptocurrencies such as bitcoin are about to drop in price. The traders move their funds out of bitcoin and into the stablecoin, so the value is preserved, and then if the cryptocurrency actually drops in price, they can sell their stablecoin and buy the cryptocurrency again, ending up with a greater quantity of the cryptocurrency than they had when they started. The thing about cryptocurrencies that concerns me the most is that so few people understand how they work, and for those people, there is a serious risk of losing funds. Does anyone think that it's a good idea for someone with a grade 8 education to have access to a trading account where they can trade margined forex or leveraged derivatives? No. And for a lot of people, a true understanding of the characteristics and value of cryptocurrencies requires a good deal of financial and banking acumen, plus a solid grounding in economics. And perhaps it would help to have some mathematics and coding experience on the side. Edit: And to be clear, that site is also a scam.
Not going to post to many details but my friend has suffered a lot of personal tragedies and connected with someone on a Dating app who was in hk (we are in Canada). The relationship is textbook catfish...they became official bf and gf and now are speaking of marriage (only been 4 months) only video called once (dark so couldn't see her) and she has dramatic back story (abusive cheating husband). now it comes out that she deals with forex and he has invested at least $20,000 with her. We created a fake account and messaged her and within the first few messages she tells him she made so much money on gold and sends a screenshot. Does anyone have any experience with successfully convincing someone that they are being cstfished? Would love some help! Or even ways to find out her profile is fake! So worried about him
Hello, My wife and I have lived in Canada all of our lives and are planning to move in two years. We haven’t settled on anywhere specific yet as we are entertaining and researching all ideas. I am an accountant who is currently completing their CPA designation. By the time I complete this, I will have four years of accounting experience. I currently work for a smaller firm, however I will gladly entertain the idea of working at a Big Four in order to move internationally. The reason for the move is to accomplish my dream of being a professional trader, specifically in Forex and other OTC derivatives. This is something I am unable to legally achieve at my current location (AB, Canada). My wife has an education background, specifically in teaching braille. She will most likely be taking classes over these next two years in order to teach ESL. We are both also looking forward to learning a new language. We are hoping to nail down our location soon so that we can start learning the country’s primary language over the next two years. One more requirement the wife is looking for is hot weather for most of the year. We live in Canada and while we are used to the cold as balls weather, we are ready to move somewhere warm. I’m making this post to:
Find out how realistic that a country will accept us living there and what we can do to improve the chance of acceptance
Acquire tips and suggestions for planning our move
Strategy:SPX Meium - High Risk Copy Trading - Intraday.
Strategy Results - http://www.myfxbook.com/members/DeanBlack/client-copy-medhigh/7422920 All results are tracked on real client accounts to show the net results after fees. The brokers with the highest spreads are use, to give a reflection of the worst expected results. Who is This Strategy For? This strategy is for you if you have a higher risk tolerance and are looking for an investmen tment with higher liquidity. This is an intraday strategy that will close all trades by the end of the US trading session making all equity available to investors at the end of each trading day. Brokerage Requirements: This strategy trades CFDs and is not suitable for US / Canada residents. Brokers offering CFDs on indices (Specifically the S&P500) is a requirement. Tested Brokers: The strategy is confirmed to work on the following brokers; : IC Markets (Best results). RoboForex Minimum Investment: $650 minimum is optimal for these risk settings. Anything under $500 will be higher risk. Anything under $400 failed all tests on this and is strongly discouraged. Leverage Required: This strategy requires 1:50 leverage (With a minimum $650 investment). Average Duration of trades: Trades will be held usually 2 - 12 hours and close on the same day they are opened. The strategy will risk a maximum of 5% over all positions at any one time. If the strategy has been losing the maximum risk per position will be decreased. If over 30% drawdown the maximum risk will be 2.5%. If over 40% drawdown the maximum risk will be 1.5%. Note, this refers to the parent strategy. Not individual copiers. If you connect a new account while the strategy is 10% down you will start on reduced risk although your account is not down. This measure is in place to protect the accounts of all investors and make the strategy stable to support long term compounding of gains. Maximum Loss: This strategy will stop trading if a loss of 65% (From high water mark) is hit. It will stop trading for at least three days to give the investors time to decide if they want to continue and the trading team time to check if adjustments to the strategy;s copier settings need to be made. Automatic Stop on Loss: This strategy has an automated stop loss on trading at 65%. At 35% the copying software will shut down, all trades will be closed and no new trades opened for a period of at least 3 days. Strategy Results -http://www.myfxbook.com/members/DeanBlack/client-copy-medhigh/7422920 All results are tracked on real client accounts to show the net results after fees. The brokers with the highest spreads are use, to give a reflection of the worst expected results.
[IC] Mill Max 0305 small GB in Toronto, ON, Canada
Edit: MOQ Met.
Edit 2: We are at 2040 now. Looking for one or two other people to hit the 2500 MOQ pricing point.
Placing the order soon. I need some Mill Max 0305 for some upcoming boards. For Canadians it's cheaper or the same to order directly from Mouser than to join any Mill Max GBs. I need about 300, but the savings really kick in if you can hit the 1000 unit MOQ price and the free duty covered shipping that comes with it. Canada Post is expensive and Toronto has a pretty big number of MK enthusiasts. If we do a local only group buy we can meet up (socially distanced) somewhere in the city and get everybody their sockets. For 12,700 units or under, Mouser ships via USPS Global Priority Mail for just $8 USD. Since it's USPS and we're ordering a very small quantity, we shouldn't really expect any additional costs. Worst case scenario it'll be 13% extra for HST but that's highly unlikely. I've got a 0 ForEx fee credit card so we should get about the same exchange rate as what it shows on Google. For 1000 units and over Mouser will ship to Canada for free, duty included in the price. Works out to be around $0.128 CAD per socket. It's slightly higher than what it'd be if we paid in USD, but it's worth it for the peace of mind. I've updated the table below. Here's a price comparison table. Archetype GB includes shipping to Canada ($12.75), PP fees and an estimate of other overhead costs (1c per socket).
Mouser Direct (USD)
Archetype GB (USD)
This local GB (USD)
This local GB (CAD)
140 (One 65%)
280 (Two 65%)
To keep things simple this will be for 0305 sockets ONLY. It seems like to date there hasn't been a board that has had problems with these. I'd like to keep the quantity between 1000 - 1200 for this GB. Just 2-5 people max. Like I mentioned before it's locals only. If you want 500 then I will get the other 500 and call it a day to make things even simpler. You can come pick up from me on the east end, or we can set a date and time somewhere more convenient in the city. I'll be counting these by weight. I have a very accurate LB501 digital scale. You should still order 5 - 10% more than you need just to account for count / damage during installation. You can pay me via Paypal and cover the fees, or you can pay me half up front in Interac EMT and pay the other half when you pick up. I have lots of feedback here and at /ecigclassifieds. I've ran a similar local GB before for DIY flavors so I'm familiar with the process. If there's enough interest I'll draw up the details and will post / contact you with more info.
Hi, I'm new to Forex and have been practicing on my dummy account for a while on MT5, but want to start trading real money. Hoping someone can point me to a reputable broker to get started with. I live in Ontario Canada if that matters. I know there's apparently a lot of shady brokers out there so I'm hoping to find a proper one. Any other advice is also welcome.
Is Norbert's Gambit not worth it for small amounts? + a question on having separate usd and cad trading accounts
Update: this will vary day to day but Norbert's Gambit looks worth it for values above $1700. Forex will probably be greater than $20. Below that, forex might be <$20. But that's a moving target. I'm looking at buying some US ETFs (SHE, SPYX) to get my toes wet with investing. I'm using RBC Direct Investing. I only have 2K at the moment to play with and to me, it looks like converting this to USD in RBC is better than doing Norbert's Gambit which will cost me $20 in fees ($10 to buy, $10 to sell). But everyone is telling me to do Norbert's Gambit when exchanging funds between the US and Canada. Am I missing something? Also, some guides say to have both a USD and a CAD trading accounts but my current TFSA DI account can have both USD and CAD funds. Should I have dedicated accounts for US and CAD trading or is just the one dual currency account ok?
So to start this off I am 18 years old, out of high school and looking to begin making money through some sort of online side hustle. For a while i Thought i needed to find a new job to help fund this side hustle but i realized that I have money in my bank account that i never touch since I rarely spend money and when I do i usually pay with my parents credit card. So I Have exactly 660 Canadian dollars ready to be used. I've done a lot of research on stocks but they seem to be mainly for long term investing and trading options doesn't really seem viable in Canada since I do not have access to Robin hood, M1 Finance or We bull. Also thought about eCommerce but advertising has me stumped. There also seems to be a lot of hype around Forex but I'm undecided. I will be having a lot of extra time on my hands in the coming months as I am undergoing knee surgery end of this month so I would like to learn some new skills to help me make money while i am off sports for a while. Tldr: I have 660 Cad ready to invest or use to start an online side hustle Came to AskTRP for advice since we always discuss how important it is to get your money right at a young age and I could use some advice from a neutral third party.
Im planning to move to Canada, currently i live in my home country we don't have taxes here on forex income , when i opened my trading account i stated im x nationality and i live in x (my home country) , when i move to Canada if i want to withdrawal from my trading account should i do it directly from my trading account to my bank account back home and then to my bank in Canada, or should i transfer it from my trading account to my bank in Canada, and what is my stand on taxes in both cases
Moving to London from Canada (30y/o) and looking for the basics: bank account, phone plan, credit card, etc.
Greetings from /PersonalFinanceCanada ! I am looking to move to the UK in the coming months to live with my partner who is working in London. I am able to telework/remote work from the UK with my current Canadian job that pays in Canadian dollars. I have a work Visa for the UK, but am not looking just yet. The pay is good enough, even with the low dollar, high pound, to get by in London. I am hoping some of you can offer some words of wisdom to a financially prudent individual with little knowledge of the UK system. I am looking for a good cellphone plan (I already own a phone, just just a month-by-month or 1-year contract max), an easy bank to open that ideally offers a credit card that I can get with no UK-credit history (I have great Canadian credit history), and any other tips that may aid me in this move. So, for example, any promos from banks or credit cards that are work looking into? I also understand that there are more bills in the UK (property tax, water, heat, electricity, etc.) and many cannot be paid by credit card, but through a current/checking account. How does one best set up their finances for this? Since I'm paid in CAD$ not GBP, I will be transffering using TransferWise the basic amounts I need to get by in London for now, and perhaps using a no fee FOREX credit card for daily purchases. Thank you all! BONUS Q: anyone with knowledge of taxation across Canada-UK, please share. Given I'll be teleworking and paid in CAD$, the UK gov't wont even necessarily know I'm living there, but want to make sure I dont have to pay 2x the tax. :S
This is my first time posting on here so bare with me. I have decided to open my first live forex account and I’ve decided to try out CMC Markets. I send in my application after communicating with my account manager through email for a week and then he says I need to send in PHOTO proof of an ID and SIN Card. I understand the ID needing to be sent in as a photograph but not the part of the SIN card being sent in as a photograph. I’ve done my research on CMC Markets and I know it’s regulated by the government in Canada so I know that CMC Markets is legit. What I’m asking here is, is It a normal thing to be asked for a photo of my SIN card? And if it isn’t, what should I do about it?
Paying off a TD Canada US Dollar Credit card with BoA Credit Card
Hello, I am wondering how I can pay off my Canadian TD Canada US Dollar Visa card with my Bank of America Visa card. My options right now are do a wire transfer from my BoA account to TD Canada us dollar chequing account. But that would require me to pay roughly total of 70 USD for outgoing and incoming fee. Or I can take some money from my TD Canadian dollar account and FOREX it to my US Dollar Account in canada. Or is there a way I can "pay" a US dollar account that resides in Canada with my BoA Visa?
Trading YYY/ZZZ pair with XXX currency (related to question in FAQ)
I am learning alot about forex but I have not found an explicit answer to this question. I am a bit confused about trading a pair of currencies when I do not own either currency. For example, my account is funded with CAD, so if I trade USD/EUR, am I not risking cancelling out potential gains or multiplying losses based on the fluctuation of CAD/USD at the same time? The answer to this question in the FAQ makes it sounds like it is a non issue: From the FAQ:
" I AM CONFUSED ABOUT THIS - HOW CAN I GET CURRENCY XXX IF I'M TRADING YYY/ZZZ?? This confuses many new traders. When you create your FX account, you will be nominating what the base currency is, this is usually the currency where you live. Live in the United States? USD. Live in Canada? CAD. Live in Tokyo? JPY. Live in The EU? EUR and so on.... That is the currency that all trades will be paid out in. The pairs that you trade have no bearing on this outcome. It may help to think of it in this way: "I am going long / going short on the asset known as USD/JPY and will be paid out in my base currency." Don't look at the pair you are trading as multiple exchanges, look at it as a single vehicle, this may help you."
From a risk mitigation stand point, would it be best practice to only trade pairs based on CAD/XXX or would it make more sense to convert my CAD funds to USD for the long term and gamble that the exchange rate remains roughly constant? If there are any resources you know of that address this question, please let me know! Thanks!
Currency Futures (Canadian dollar D6) - How do I go about hedging by Exposure to USD
Hi there, My base currency is Canadian and I hold some USD exposure right now due to investments. I am new to using Interactive Brokers and futures trading. To my understanding it is possible to mantain a hedge using the cash-settled large and mini Currency Futures Contract and occasionally adjust depending on your USD exposure. https://www.cmegroup.com/trading/fx/g10/canadian-dollar.html Per https://www.retailinvestor.org/hedge.html#risk "It is too expensive to hedge." The cost to buy a $100,000 futures contract good for a year, is about $5. Pittance. Yes you must provide collateral but that is not a cost. You will also find that buried somewhere in whatever method you chose, is a cost/benefit equal to the difference in interest rates between the countries. Since Canada and US rates are so close you can cancel out any cost by using limit orders that let normal market volatility make up the difference. The fund managers who say hedging is expensive are referring to using options. This method IS expensive. Options are a one-sided bet on the direction of FX, expiring within a specific time span. They are not hedges. The cash funding of open futures contracts come from the daily settlements. If your position gains $1,000 in value one day, there will be $1,000 put into your account. More importantly, if your position loses $1,000, it will be taken from your account. If there is not sufficient cash your broker will consider it borrowed and charge you interest. You must realize that because this is a hedge, you are not 'losing' that cash. For every dollar you might lose in the futures account, the offsetting investment in the foreign security will have gained the same amount. Agreed, you cannot liquidate that cash daily, but the value is there." 1) Anybody have any experience in this in how to consider which month of futures contract to purchase, (near month or 1 year from now if I want one year of) I believe futures contract automatically roll-forward to the next month. The Price Curve seems to curve down, and is in some sort of backwardation? So farther away in time cost more due to priced in uncertainty - and also more thinly traded? 2) Collateral is required so I assume is some sort of Margin that is required to maintain the contract, 3) What are the calculations to determine how much to hedge out. Say I have $100k USD? Is it just Looking at say $100k USD x the Future Price Rate (of CAD/USD) or the current Spot Forex Exchange Rate? I.e. $100k USD / 0.74500s (Aug '20) = $134k CAD ~ So 1 $100k CAD Contract and 3-4 $10k CAD mini contracts? 4) Any resources to learn about this? Thanks in advance
Moving USD/CAD funds and the implication of capital gains taxation
Hello, US Citizen living and working in Ontario. I have both a Canadian bank account and my original US bank account that I still use when I'm travelling/spending money in the US. I'd like to replenish my US-based bank account with more funds using Transferwise if the power of the loonie increases against USD. But I don't want to bother with that if I need to pay a capital gains tax on it. When does/doesn't moving CAD between USD count as an 'investment'? I have noticed the big banks here in Canada often offer chequing/savings accounts in US dollar funds. Has anyone used these? I presume you move your CAD from your primary account to the USD account. But, what if you move the funds back from the USD account to CAD? Does Capital Gains taxation apply here? tl;dr: When does converting currency get considered as FOREX trading? Where's the line drawn?
VantageFX are a top forex broker who have developed into one of the leading names in the industry and a top choice for traders in Canada. They are an Australian based broker and although they are not IIROC regulated, they are still well-trusted in the sector and accepted for trading in Canada.You can open a VantageFX trading account with a minimum deposit starting at $200. Binary / MetaTrader / CFDs / Robots / Signals / ECN & STP / Cryptos / Full List of Canada Forex Brokers. 9.4 /10. Register an Account. Swiss Markets Canada. Special Offer. Zero Spreads - Swiss Markets. 9.2 /10. Register an Account. FP Markets Canada. Special Offer. 500:1 Leverage - FP Markets. 9.1 /10. Register an Account . AxiTrader Canada. Special Offer. 20% Credit - AxiTrader. 8.9 /10 ... The Forex regulatory agents in Canada are many. No law in Canada enforces Forex brokers to open a shop in the country. Be that as it may, you can still find one or two brokers that have opened shops in Canada to cater to the needs of Forex investors in Canada. Some of these Forex brokers are from major Forex investment companies across the globe. How to get started with forex trading in Canada and the best platforms 2020. Compare the best FX brokers in Canada and open an account today. Compare Canada authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers.com Trust Score. Forex Broker Accepts CA Residents Regulated by IIROC Average Spread EUR/USD - Standard Minimum Initial Deposit Trust Score Overall Visit Site; CMC Markets: Yes: Yes: 0.740: $0.00: 99: 5 Stars: N/A ... The best forex brokers in Canada measure up to forex brokers around the world. Each country’s currency is managed by its central bank and/or government. But each can use different processes, so ... Forex demo account : Demo accounts are the try before you purchase feature of Forex trading brokers. That said, I always advise new traders to treat a demo account even as you’d a live account for the subsequent reasons. The Best Forex Brokers in Canada. Forex Brokers Min. Deposit Platforms Rating Secure Link 1. Your capital is at risk. $200. 50% Bonus. MT4, MT5. VPS, API. Rating: 5/5 Visit ... OANDA (Canada) Corporation ULC accounts are available to anyone with a Canadian bank account. OANDA (Canada) Corporation ULC is regulated by the Investment Industry Regulatory Organization of Canada (IIROC), which includes IIROC's online advisor check database ( IIROC AdvisorReport ), and customer accounts are protected by the Canadian Investor Protection Fund within specified limits. FXCM Canada Pty. Limited (FXCM) is a leading online forex trading and CFD broker in Canada. Sign up for a risk-free demo account and trade forex 24/5. A managed forex account allows a professional manager (or someone who claims to be so) to trade your funds on your behalf for a salary or a fixed share of the profits. You may select a specialized firm for this purpose or a broker that offers a sophisticated software feature that permits your account balance to be traded by an expert. The latter service does provide an extra level of risk ...
How To Start Forex Trading With $100 2 Ways To Manage ...
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