Best Canadian remote deal

Discussion in 'Prop Firms' started by llRoninll, Feb 17, 2007.

  1. I've been reading through this section but haven't found the information that I have been looking for and wondered if someone could help me.

    I was hoping to go remote from home rather than going in to the office every morning.

    Does anyone have suggestions for a good remote trading opportunity? What can I expect for payout/fees etc? Which compay offers the lowest fees? What are initial deposits?

    I realize I could contact a few different firms but thought I would start here first and hopefully get some unbiased feedback.

    I was going to contact echo and assent first - any thoughts?

  2. If you want to trade prop with a US based firm, you will have a hard time finding one that will accept Canadians. Any other country in the world is no problem, but the Canadian brokerage industry has scared most US firms into not taking Canadian accounts through threats of legal action for conducting business in a jurisdiction where they are not registered. It's a bogus claim, since only soliciting business requires registration. There is nothing legally wrong with US firms accepting Canadian accounts, just that most are not really up to to speed on the rules and don't want to be bothered with the perceived hassle/risk.

    The Canadian prop industry seems to be built more on the no money up/profit split model, but almost all of them want you to trade in an office. The ones that offer remote trading can't compete with US firms on pricing.

    I trade from Canada with a US based firm that will accept Canadian accounts. Good buying power, rates and software. They're not a site sponsor, so I won't mention the name, but you can pm me. I think Bright Trading will accept Canadian accounts for remote trading too.
  3. Corey has it pretty much correct. We are, of course, registered in BC, but not in the other Provinces (that may finally change this year, but I'm not counting on it).

    You might want to call Rob Friesen, who handles our Canadian traders at: 604.539.8700 to discuss the current "state" of all the legalities going on.

    Good luck,