futures brokers in canada

Discussion in 'Retail Brokers' started by soler, Feb 3, 2004.

  1. soler


    what firms would you guys recommend?
  2. java5555


    Interactive Brokers, Canada
  3. Since when can you trade futures in Canada? Wasn't it illegal at some point? (at least with a US broker)

    If I go to Canada and somehow find a way to get permanent resident status, can I trade my US account? What taxes would I pay on my profits? Would I have to pay any SS tax?
  4. java5555


    A Canadian resident can open a FUTURES account with any US broker....TradeStation, IB, Refco, etc. They will not let you open a Equity account. US residents cannot open equity accounts in Canada (per IDA rules).....although some of the banks (RBC, Greenline) like to make up their own rules, depending on the situation.
  5. 1) As Java5555 has mentionned, you can choose any US broker for future, futures have never been illegal in Canada
    2)You can process futures as capital gain or income , ADRC accpet the both (ITR95 I think, but consult tax advisor for your exact status)
    3) I suggest alos IB, more products but you have also the choice with QuestTrade (Cybertrader proxy for the Canada), maybe TradeFreedom now, and Jitney Online Groups probably.