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As a newbie futures trader in Canada (Toronto, ON) -- I've come to the conclusion that there isn't much info out for us canucks.
There are some old threads on NexusFi but some date back to 2004 or so.
If you are a Canadian futures trader (ES, CL, etc), could you help chime in and answer the following questions for myself and any future traders?
1) What broker do you use?
2) What platform do you use for charting? Trade execution?
3) How do taxes work on futures trading profits and losses with the CRA?
4) ANY useful info/insight/resources pertaining to futures trading for Canadian citizens you would like to share?
My contribution: based on scouring through old threads and of course google... one way to get tick data based charts it seems for Canadians:
You connect both IB and Kinetick to NT8 and can access tick based charts, using their superdom to send trade execution to your trading account at IB.
The only downside is that the margin on IB is quite high (basically 4-5k CAD per contract). For newbie traders who've gotten comfortable with sim, I would only do 1-3 contracts max to start in live trading... which is a 20k account if you include buffer to prevent margin calls.
Can you help answer these questions from other members on NexusFi?
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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Hello,
I was trying to open the Interactive Brokers (IB) but they take care for Futures only for US resident. I am looking for the company who can trade Futures in Canada for Canadian. If you know some companies, could you share information to me?
Thank you very much
Thank you very much for responding my question. I could not find the categories to click for Future to create account and I asked to staff and they told me that Future trading only US resident. I really would like to open one. I have question. When did you create your account at interactive broker? How do you like trading at that Broker?
Thank you very much.
