Suffering in Canada

Discussion in 'Retail Brokers' started by plugger, Jun 5, 2005.

  1. plugger

    plugger

    I shall try to open an account with them this week and will find out first hand if my friend is accurate. Thanks to the Doctor.

    PS, when you say 'students', are you a university prof or are you teaching trading?
     
    #11     Jun 5, 2005
  2. simsim

    simsim

     
    #12     Jun 5, 2005
  3. gkadir

    gkadir

    Hi Plugger,

    I want to assist people here as I feel I owe something to this forum for the information and assistence I received. I must admit most people here are great people and traders. I guess they beleive in what you give is what you get back!

    I am in the UK and traded thorough a discount broker. When I was lossing money they were okay, when I started making money, my fills got delayed and much problems to follow with it......
    I searched thorough this board and found several brokers that offer sub account so you can go round the 25k minimum and day trading rule.

    Thorough much research I have chossen to go with Genesis, reason being very low comission, Very fast execuation, and good people. IB is good, but you need $25k, also I heard but need to verify, that if your interenet connection goes down, its hard to get hold of people straight away to close a trade., and they charge you. I maybe wrong, but pls double check.

    I am bringing a lot of my group with me from the UK who have similar problems with that particular broker.

    Please PM me if you need more details about my comission, and who I went thorough.

    I hope this has helped, and wish you every success in trading.

    Thanks

    GK
     
    #13     Jun 5, 2005
  4. mhashe

    mhashe

    You can try

    Ameritrade Canada
    Etrade Canada
    IB canada
    Not sure about Cybertrader, but last I heard they were working on opening canadian brokerage.

    Also there are some prop firms in Canada, use the search function on top right.

    Quite a few choices you have there.
     
    #14     Jun 5, 2005
  5. cyberTrader is not here yet, but Questrade licences their software. I happen to use it.
     
    #15     Jun 5, 2005
  6. ids

    ids

    plugger,
    We do not have any account size requirements except $2000 minimum. We can decline application based on your answers if we decide that you are completely inexperienced trader. Otherwise, you are welcome.
     
    #16     Jun 5, 2005
  7. plugger

    plugger

    Thanks to all who replied.

    Torontotrader, a couple questions for you if you don't mind. Do you currently prop trade through Quest? What kind of arrangement do you have (sorry if I'm nosing in your personal business too much)? If you are using Quest to prop, how do you like them? Thanks in advance.
     
    #17     Jun 5, 2005
  8. To answer your question I am a maths professor and have limited knowledge of trading, but I am leading some graduate students on a project related to applied math. The idea is to use mathematical principles in the real world in creative ways that are new, and thus worthy of publication. Several students have been assigned to build black box trading machines that not only work in simulator and back test mode, but that really work. Sounds easy for a math phd, but isn't. Two students so far seem to have achieved this, but the test continues. Obviously they need a broker with low costs, wide range, and small 'university research' size accounts. We picked IB Canada. To IB, we are just individuals with small accounts. Our test model calls for us to randomly select three trades a week to actually execute and from this we can extrapolate slippage and other things for paper trades not actually executed.
     
    #18     Jun 5, 2005
  9. ...Open an IBC (International business corp) preferably offshore, once complete you'll have an international, private entity that can open a trading account anywhere on the planet with any firm.

    As an added "kicker" you will not pay any tax on the gains you make as the company is domiciled offshore and will not pay tax on gains made in the markets. Actually if you pick the right jurisdiction you shouldn't have to pay any tax at all...with the respective country it domiciled in as the profits would be considered foreign gains and will be free of any tax....there you go. :cool:
     
    #19     Jun 6, 2005
  10. plugger

    plugger

    Wait a minute, zman, are you suggesting I pull a 'Paul Martin'? Isn't that type of move reserved for wealthy politicians who register their shipping companies offshore?

    Sorry, couldn't resist a jab at good ole' Paul, the set up was there. Anyways, thanks for the suggestion.
     
    #20     Jun 6, 2005