Looking for IIROC (Canada) regulated fx broker?
Hello,
I was previously trading with MF international canada and certain love doing business with them (I know that their system is FXCM but I would like dealing with brokers which are IIROC regulated after what happended to MF international). Too bad their big boss screwed up the parent company so MF international canada had no choice but to liqudate as well. I am currently looking for a replacement broker that's IIROC enrolled (so that I know my money is shielded). Does anyone have any recommendation except that the followings?
1) Oanda, they're bad in limiting how much I could exchange with my acct. Telling me that they need to stick to the law and supply risk management to their own client as well (just let them trade up to specific acct balance based on income). It makes no sense in any respect. This is similar to checking people's income before letting them enter casino to bet.
Two) Questrade, they don't have CAD established acct. Given that their system doesnt allow hedging. I dont need to introduce an extra FX risk to my acct so best not coping with them unless they supply CAD account. I will technically hedge my fx vulnerability by shorting usd/cad, but this would mean I can not buy the pair unless I close my usd/cad short (too much trouble). I used them before and dropped thousands on exchange rate because I wasnt paying attentoin into the FX vulnerability on the usd/cad pair.
3) Interactive broker, their fx trading platform (or their system in general) is just way too old. Looking at the setup icon I think their system is created back in win95 times and has not changed since. Very hard to use for retail fx traders. I've been trading FX for 7 years but their system just go past my fx trading adventures. Too hard to ask my wife to find out their system and guarantee that she won't make mistakes.
Your comment is much appreciated.
Thanks.
