Canadian FX Brokers

Discussion in 'Forex Brokers' started by TruNorth, Jul 25, 2006.

  1. TruNorth



    Your advised:

    "If you use email support, or fill a email contact ticket at Oanda's site, these will go to actual Oanda employees or at least that's the way I understand it to be. I've never had anything but good experiences of their email support."

    The only email address I've ever seen from Oanda is the address. That goes to Customer Service. An email I sent to that frontdesk email address (attn: Dr. Richard Olsen) was responded to by Kubai (the customer service guy who took the decision to abruptly close my account).

    Is there another email address for Oanda that you've used and which has actually reached Oanda employees, rather than the customer service department?

    #11     Jul 26, 2006
  2. bl33p


    That's the address I've always used. Best of luck finding some clarity into your case. IF you've told us everything it shouldn't have happened.
    #12     Jul 27, 2006
  3. TN,

    IB is setup for forex pair cash trading, as I have made many trades myself. Also I think you need to refine your knowledge of how a futures contract works. You have an understanding of how futures contracts are settled, but I think a little observation would change your perspective as to how they are valued minute by minute. That I you would find that a currency future will trade in exactly the same way as cash forex, save a few quirks that have of limited effect.

    Also I agree the IB platform is less than intuitive a first but I have come to really like it over time. Furthermore I am concerned that your concept of a "home currency" is effecting how you thing about trading. You want to put up margin in CAD which is fine. Say you take a short €25,000 position on USD/EUR at 1.2700. Your balance sheet now looks like this;

    Assets Liabilities
    USD 31750 (EUR 25000)

    To finish this balance sheet you need to add your CAD that you put up as margin. For this example we will say CAD $10,000.

    Assets Liabilities
    USD 31750 (EUR 25000)
    CAD 10000
    #13     Jul 27, 2006
  4. TruNorth


    I finally got my trading account funds back from Oanda today, after being told told yesterday by "frontdesk" it would take "3 to 5" business days for the funds to be returned (although wire transfer of my funds to them took only a few hours in the late afternoon).

    This required my sending an email about what had happened to Dr. Stumm's U of T email address (where he is a professor). I got no reply. He is probably away from the U of T campus during the summer months.

    After someone on this message board suggested I try reaching the executive offices at Oanda by "another Oanada email address, I sent the same information I had sent to Dr. Stumm's U of T email address to "Send us your Feedack (at the Oanda website), and posting the message on Oanda's Message Board (as an Oanada trader on this board suggested that Dr. Stumm monitors the Oanda board), I finally got my trading account funds back from Oanda today, less $55 wire fees.

    Last night, when I looked at the message board, there were some juvenile responses (e.g., must be someone who didn't take their meds, I have people I wouldn't do business with either, etc.) someone did post the observation quite similar to the last comment on this board: "Unless something is has been left out, something is definitely wrong here. These seem like very small things that shouldn't have resulted in an account being closed. Something is very wrong with this picture." And then no more juvenile posts appeared. And my funds appeared in my account this morning.

    I tried to post a note to the Oanda board to let members know my account funds had been returned, but upon attempting to do so discovered that my permission to post at the Oanda message board has been revoked. So, there you go.

    I suspect Oanda could prevent this from happening in th future by simply removing the feature in livechat support that requires the trader to type their real name in as well as their acount ID. That would prevent customer support from knowig whether they are speaking to a man or woman.

    I want to thank each of you for being thoughtful and caring enough to offer construction feedback to my situation, and on taking the time and thought to make suggestions about other brokers that allow traders to open CAD trading accounts.

    I've been looking over Interactive's userguide for its trading station. It is a bit difficult to sort out, but maybe a bit more of a look.


    din an account
    #14     Jul 27, 2006
  5. TruNorth



    My interest is in purchasing in a short or long position units of one currency (with CAD funds) against another currency (e.g., EUR/USD). I would like to be able to watch a real-time graph of the EUR/USD spot exchange rate so that I can determione when I want to close the position and take my profit.

    Interactive's documentation is written to a very general level of use, and the order screen--for example--does not make it clear how one selects a currency pair transaction. It would be extremely useful if Interactive had documentation for currency day traders. The mouse over help for the graphical display screen advises you there are two items (one above the other) and yet only one appears in the blinking demo activity display screen.

    Is there a particular section of the user guide that you believe applie to users with my interests? If you're sitting there thinking, "This is work" then maybe I should try to find another retail broker. I'm a little concerned that in the browser operation Interactive's demo seems to "burp". This would not be cool during day trading.

    I'd very much appreciate suggestions/recommendations to a retail broker who is trustworthy, has good opening pip spreads, good readable spot price charts, who allows traders to trade with CAD, and has a user interface that is reliable and reasonably easy to sort out and understand. And, obviously, I'll never let another customer service rep in the future know that I'm a female.

    Many thanks
    #15     Jul 27, 2006
  6. Wow TruNorth,

    I am a woman and been treated with nothing but respect at Oanda. However I am a joint account holder with my husband..his name comes first and I prefer it that way. I guess I am TruSouth right?

    Honey, you seem rather arrogant and if I were working the phone lines at Oanda, I would shut you down WHILE YE WERE STILL ON ON THE PHONE, NOT A FEW HOURS LATER! tell your friend at the next lunch to tell Mr. Stumm a big Thank you.

    Customer Service really does not have any decision making power or authority to do anything. They are rather clueless about trading too. What do you expect? They are there to say the same things over and over again and to have a presence.

    As I read your post (s), I have read enough, please for all of us...get out of trading...or in a couple of years come back to this archive and re-read this thread and embarrass yourself.

    And no! I will not give you Mr Stumm's email address...If he had to talk to every novice that wanted to talk to him, he would not have any time for important things such as golf...

    May I make a suggestion?...get a man and do a little lovin'... you will feel much better in the morning, and leave those Oanda kids alone when you feel a little shinky..

    And welcome to ET :)
    #16     Jul 27, 2006
  7. TruNorth



    You've made the point that you're arrogant and shrill. That speaks for the value--if any--of what you post, so spare us, please?

    BTW, if I created a nick DrTruNorth, it wouldn't make me a doctor. Typing Mrs in front of a nick, doesn't mean someone is a female either. It is merely a presentation. The "Savant" thing is kind of amusing and dovetails nicely with the immaturity and arrogance.

    Everyone else here has been helpful. You feel better now?
    #17     Jul 27, 2006
  8. ok sweety... have it your way...

    Good Trading to you.

    Try MB trading...I do not know if they have CAD accounts though...Be nice this time...

    The KidSavant

    #18     Jul 27, 2006
  9. MB account holders, I swear if you tell them that I sent her, I will deny it...

    and you "kids" at MB, be on your best behavior..this one cannot read and gets a little grouchy in the mornings...

    The Mrs...
    #19     Jul 27, 2006
  10. TruNorth



    I really appreciate the thoughtfulness I've received on the board regarding identifying a reliable retail currency broker who will allow me to trade from a CAD account.

    I know we've all gone thrugh these searches before and everyone is busy with their own trading, so the thoughtfulness is very appreciated. As we all know these searches require a lot of time and testing prior to investment, so the benefit of someone else's search could really be helpful.

    When you get a chance....thanks.
    #20     Jul 27, 2006