Brokers For Canadian & American Traders

[TransparentT]

Hey T, I did some more digging at https://www.cqg.com/partners/fcms based on the CQG info that Ironbeam provided. I found https://just2trade.online/solutions/mt5global/ which offers access to multiple markets in something they call MT5 Global. The US is on their "Restrictions" document, but Canada is not. Looks like they're in Cyprus where Metaquotes is headquartered.

Thanks for the heads-up, JohnnyRy! I'll give them a look and see if they're worth pursuing further.

Just a quick update on this one. I emailed customer support and here is what they told me:

"We want to inform you that our company doesn't provide services for clients from the USA and Canada."

Which is odd considering I was able to sign up for a demo account with them on both Empty4 and MT5 through their registration form.

I'll write back and report more as this develops.

[pakeha]

Transparent T…. Have you tried Equiti?

[TransparentT]

I haven't. Tell me more!

[pakeha]

https://www.equiti.com/sc-en/ Last I checked they allowed Canadians.

[traderduke]

T & JR
Have you guys heard or checked into LQAFX or Coinexx?
I just got kicked out of FXChoice. I'm looking at those 2 and maybe TradersWay.
Appreciate any insight.

[TransparentT]

Regarding Ironbeam... They failed to integrate MT5 within their own quoted deadline. In October of 2023, Mike told me that they've been working on integration since April of 2023 and that it would only take 2 more weeks to complete. Their programmers were unable to do it as of January of 2024, so Mike recommended using API access. I installed a Python gateway to MT5 on my end, and I requested API credentials from Ironbeam. They totally ignored it, and another user in the Ironbeam forum told me that API support costs 500 USD. Therefore, I withdrew my large deposit and canceled my account without placing any trades.

Sucks to hear. Do you think they're just pushing it off for a later 2024 release, or do you see this never happening?

[TransparentT]

Do you think they're just pushing it off for a later 2024 release, or do you see this never happening?

I believe it's never happening. Mike belittled MT5 and said he's friends with institutional traders who run field programmable gate array (FPGA) processors. These are run on high tech computers by wealthy high frequency traders (HFT's) that leave retail traders with ordinary CPU computers in the dust. This is a common issue with broker-dealers based in Chicago such as Ironbeam. HFT's set up their offices right next door to the electronic clearinghouses of exchanges with heavy equipment and smoke everyone else. Ironically, Trading.com US has its over the counter (OTC) forex servers set up in Manhattan and I have zero issues with them, so that's where I'm staying.

Yeah, that's what I figured. No MT5 for us mere mortal plebs.

[pakeha]

Herenya is a new retail broker from South Africa with TradingView integration... they indicated that they take Canadians... https://herenya.co.za/