After some interesting posts on MT4 Brokers thread (I would you recommend you read all thread to obtain a clear view)

I started this thread to give information at all interested in Canadian Brokers and the fund protection of the CIPF.

First of all, the main question is: foreign citizens would be covered?

I wrote to CIPF to obtain the official answer.

However, in a chat with Questrade, they tell me, all customer are covered no matter of citizenship.

Only members of CIPF listed in the official web site are covered by the fund.

I checked one by one all brokers who appears in the list

There are no many Canadian Brokers. I only found 4 retailers and no one ECN. And if you know about someone else, pls post here.

I think with big money you can open an account with some broker bank listed in the CIPF web site or another.

Another thing is and I guess some of them are forwarding the trades to US brokers.

Here you have what I find:

Questrade is using gft and gain platforms.

Tradefreedom is only for Canadians.

E-trade Canada doesn´t offer forex like e-trade UK.

Man Financial (ex-Refco) which platform is FXCM like.

I can´t find any MT4 broker and because of that I opened this thread.

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I lived in vancouver,bc,canada.anybody can suggest some good broker use MT4 for me?
thanks ahead

RefcoFX Canada which was bought by Man Financial was covered by CIPF. I had an account at RefcoFX Canada and was easily able to withdraw my funds even when the larger American holding company was going bankrupt.

I would fully recommend a broker that is covered by CIPF unfortunately there's just not that many. Canadian regulations for brokers are very strict so very few companies out there can abide by it.

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Metatrader 4 - EA Live and Demo Hosting Solutions http://www.omegasupreme.com & Omega Trading Blog!

thanks,can you give me the link to that company?I googled but no link to their website.
looks like very limit choice in canada,so can I use USA broker,and how about the tax issue,any idea?

By law in Canada you must post your trading gains as income if you exceed a certain number of trades per month I believe. If it's less then that number it is capital gains.

You can find RefcoFX Canada @ Man Financial Canada FX

__________________
Metatrader 4 - EA Live and Demo Hosting Solutions http://www.omegasupreme.com & Omega Trading Blog!

MetaTrader4 Correspondence

FX Clearing Group, Inc.
http://www.fxclearing.ca

Spread:
1 pip on 4 majors for Mini Accounts
2-3 pips on majors for Pro Accounts
For full spread list

Leverage/Margin:
Up to 500:1 on Mini Accounts
Up to 400:1 on Pro Accounts

Account Sizes:
Mini Accounts: $250 - $5,000
Pro Accounts: $5,000 and up

Contract Sizes:
Mini Accounts: 1k (micro), 10k (mini), 100k (standard)
Pro Accounts: 10k (mini), 100k (standard)

Lol sorry, but this broker is a joke.. look at the bottom of the main page

"Due to regulations, accounts for Canadian and US residents may not be opened at this time."

You know what that means? It means that this broker doesn't meet any Canadian regulations in order to allow it to open accounts for Canadian or U.S residents without it getting into trouble with the law.

"There is no forex licensing in Canada, and we are not required to obtain a security license if no Canadian clients are accepted."

The above just means that they are not at all regulated by any governing body in Canada as long as they do not have Canadian clients. They're not even a member of CIPF so you wouldn't get any account protection.

__________________
Metatrader 4 - EA Live and Demo Hosting Solutions http://www.omegasupreme.com & Omega Trading Blog!

I tried their demo a momth,one word----SxxK! when big move come ,even you have $4000 in account,they will not let you open 1 lots.I uninstalled it just few days ago.

I 'll try this one.thanks for help.anyway I pay tax everyyear,so tax is not a problem for me,just don't want this forex tax issue too complicated to be understand for me.

oh,it's not mt4,so sad.