Yeah that's for the fixed rate, which also looks to be expensive. Ex. Germany: 2.66CAD vs 0.82-1.12 per side. When I go to "Non-US Cost-Plus Tiered" it says: "In the Cost-Plus Tiered commission structure, you will be charged IB commissions which are reduced if you exceed specific volume thresholds. These commissions do not include exchange, regulatory and other third-party fees. You will be charged separately on a pass-through basis for these fees. You will also be charged an IB carrying fee on positions held overnight. "
I believe tiered is not relevant for most traders (you need to be over 1000 trades per month). But DDT does look like better rates in all cases - you are right! Of course platform fees are extra with DDT. but included with IB.
Quote from OP: Because you are just starting out, going with IB sounds like a good idea. You can try US brokers not registered in Canada later. IB has physical presence in Canada (a small branch office in Montreal), the account is insured under Canadian rules (CIPF), you don't need to pay your bank for wire transfers to/from US (funds can be sent to IB as a "bill payment" from RBC, TD, etc). 25k+ net worth is just a nuisance required by Canadian regulators, nobody will ever check that, you just need to be a bit creative here (when I got into trading years back, the minimum to open an account with Refco Canada was "250k excluding home equity"). 10k is a minimum to open an IB account. After that you can pull some money out (just don't do that the next day), you will be able to trade as long as you don't go below 2k. For charting I would suggest to try both SierraChart and Ninja Trader, as mentioned in earlier posts. You can have multiple instances of Sierra running, each one connected to a different feed. IB data is 100-150 ms and not 300 ms (as far as I know). This is sufficient for 3 or 5 minute bars but not good enough for tick charts, volume profile, market delta, etc. To get reliable tick data you can use DTN IQfeed with Sierra (about $100 per month). IB also offers something called "true data". It is full data set but 5 seconds delayed. There are some DLLs created by Sierra users that combine the snapshot data with "true data". This workaround resolves the issue of highs and lows occasionally missed by the snapshot on short time frame bars. It is mostly used by those who need data from exchanges not supported by IQfeed (ASX, Hong Kong, etc).
Any good Canadian future broker for small guy ,I dont like day trading ,swing trading ,just position trading where there is 90% chance to make good profit .Is not many of them ,but they come by I did good money that way in 80s House, when they dont punish you if even make one trade a month I am looking for something like that
I have been trying to follow up this thread to get the answer to my question, but after a while I got completely dizzy. Here is the problem: - I live in Vancouver, B.C., Canada. It seems that due to a stupid provincial regulation, none of the Futures Brokers in U.S. would accept me. I already tried AMP and Advantage. These are the main features I am looking for (in order of importance). 1. Letting me trade Forex and Futures from B.C. Canada. 2. Low commission. 3. Compatible wit TradingView software; which means the brokerage has to be CQG compatible. 4. If I can push my luck, I would love the brokerage having the ability of Automatic Trading. Your help is greatly appreciated. Ali Asi | 604-785-8900 | info@aliasi.ca