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comintel
Registered: Jun 2008
Posts: 1077 |
07-25-12 10:54 PM
Quote from eusdaiki:
I wonder which specific IIROC rule forbits trading in Alberta... ?
None.
It is an Alberta Securities Commission rule.
They used the IIROC of accredited investor in their rule.
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Jason Rogers
ET Sponsor
Registered: Jun 2009
Posts: 294 |
07-26-12 10:25 PM
Quote from mr double:
i was trying to open fxcm account heres my conversation with agent
representative will be with you shortly. If you would like to provide feedback at the end of this chat, please complete FXCM’s Feedback Survey by clicking “Close” at the top right.
You are now chatting with 'FXCM - Mitch' ...
Hi Mikhail,
First, allow me to apologize for any confusion you had from your chat with my colleague Mitch. Just to clarify, it is the Alberta Securities Commission (ASC) that does not permit the offering of FX/CFDs to retail investors in Alberta. Residents of other provinces in Canada can open a trading account through FXCM Canada: www.fxcm.ca
The margin requirements for FXCM Canada are set by IIROC, and these margin requirements are higher than what you might be familiar with in the US or the UK. Also, instead of one margin level, they have initial margin, maintenance margin, and liquidation margin levels. Furthermore, these margin requirements vary from one currency pair to the next. Those interested can see a detailed explanation of the margin requirements which apply to Canadian residents by clicking here: www.fxcm.ca/forex-margin-leverage-guide.jsp
Jason
__________________
Join FXCM on Google+
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Wallace
Registered: Aug 2003
Posts: 3022 |
07-26-12 10:50 PM
Hi Jason, two questions
maximum leverage in Canada - all provinces - is now 33:1 - is that correct ?
FXCM.ca opening account minimum is $2,000 , is that amount likely to be reduced ?
and welcome back to Canada - took you long enough ;
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mr double
Registered: Feb 2006
Posts: 673 |
07-27-12 04:20 AM
Quote from Jason Rogers:
Hi Mikhail,
First, allow me to apologize for any confusion you had from your chat with my colleague Mitch. Just to clarify, it is the Alberta Securities Commission (ASC) that does not permit the offering of FX/CFDs to retail investors in Alberta. Residents of other provinces in Canada can open a trading account through FXCM Canada: www.fxcm.ca
The margin requirements for FXCM Canada are set by IIROC, and these margin requirements are higher than what you might be familiar with in the US or the UK. Also, instead of one margin level, they have initial margin, maintenance margin, and liquidation margin levels. Furthermore, these margin requirements vary from one currency pair to the next. Those interested can see a detailed explanation of the margin requirements which apply to Canadian residents by clicking here: www.fxcm.ca/forex-margin-leverage-guide.jsp
Jason
i would like to apologize too, the way i handled the conversation,i have bedbugs in a house,so i sprayed Raid and though ventilated it for while,i guess it was not enough On that note why Alberta doing it?
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mr double
Registered: Feb 2006
Posts: 673 |
07-27-12 04:56 AM
Quote from oraclewizard77:
See if you can open a futures account with a futures brokerage and then trade currency futures, problem solved.
yes,i am in proccess of doing that,thank you
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