Canadian friendly Forex broker micro lots

Discussion in 'Forex Brokers' started by FutureScalper, Sep 8, 2011.

  1. Does anyone know of a Forex broker which permit trading down to micro lots, which will also allow a British Columbia, Canada client and which has a decent API to their order entry system for EUR/USD? (non MetaTrader)

    Variable sub-tick spread pricing, and decent commission?

    I like MB Trading, but they will not deal with Canadians.

  2. This might be the ideal solution because you want a non-Metatrader broker, but FXOpen allows you to trade with 0.1 micro lots.

    I think I've had an account with them since January 2010.
  3. He asked for non-metatrader based API's... FXOpen doesn't fit.

    But... funny you should mention that, since FXOpen's ECN account is connected through to SWFX ECN run by Dukascopy.

    Dukascopy has FIX and JForex (java based) APIs if you go direct with them.

    Dukas does micro lots as well.

    Plus, you get a better commission fee structure with Dukas since they give you price breaks with volume or deposit size.
  4. It is illegal under British Columbia law for brokers to accept British Columbia clients unless they are approved in at least one Canadian province.

    So I doubt any will take your account. You can thank your provincial government.
  5. I'm not entirely sure that's the case.

    Do you have a link to something that verifies that?

    My understanding was that BC only says you have to be registered and conform to the BC Securities regulator if you want to solicit BC residents (which doesn't bar overseas companies from accepting BC clients.)

    However, since it's easy to legally argue that providing a website accessible to BC residents is the same as soliciting your services, so most brokers choose to cover their arse and refuse to deal with clients from BC since they don't want the headache of BC regulations, registration, or legal action against them for accepting BC clients. This is really an issue of the letter of the law indirectly giving more power than the spirit of the law.

    If they've changed their legislation recently or I'm missing something, do post a link or bring it up. I'm very interested in any regulation changes that affect Canadians in general (regardless of the province.)