Forex trading in Canada can be tough.
In Canada Forex trading is tightly regulated, the leverage is low and most brokers simply aren’t bothered with providing their services to Canadians.
Forex trading in Alberta Canada… well that’s even harder.
The Alberta Securities Commission has extra stringent rules for Albertans that makes trading even harder.
Many brokers flat out refuse to do business with traders in Alberta.
So, I thought I would write this article to help all your Albertans find a Forex broker.
Forex Brokers For People in Alberta Canada
If you want to trade Forex in Alberta, your options are limited…
…But you can trade.
I asked a bunch of Canadian and Albertan trades in my Forex Mastermind group who they trade with.
All of these brokers are regulated in Canada by the Investment Industry Regulatory Organization of Canada (IIROC) which means they should be trustworthy.
I have never traded with any of these brokers so I cannot recommend one over the other. I am simply sharing the options.
Other Brokers for People in Alberta?
If you know of any other brokers that offer services to people in Alberta, please let me know. I would love to add them to this list to help out our fellow Albertan traders.
I will only add regulated brokers though!
Michael
Thanks for this! Very useful!
Nick Romanovsky
I live next door in British Columbia who also have tough regulations. I will only do business with a regulated broker. I have one account with FXCM Canada 33-1 leverage, and Rakuten Securities Australian office was happy to open an account with me. Their leverage is 100-1 slightly more of a hassle to do business with though because I have the expense of wiring money to them from my bank account. They do offer Skrill, however I found that a nightmare and gave up. Skrill has extremely bad reviews and when I started having trouble trying to transfer with them I found the exact same thing everyone else was saying about them.
Richard Saxon
Blueberry Markets, Austrailian Broker
Alphonse
I live in Alberta and use an australian based broker called Vantage FX. I have used them for the last 2 years and haven’t had any problems with them
Darcy
I have been using FX Choice regulated in Belize for the past 3 months. They alow 200:1 leverage and really low spreads. 3 months ago I easily wire transferred from my TD bank, but they no longer accept wire transfers….so now I am in the process of setting up a E Payments account to wire transfer into (ben 3 days to get approval so far and still waiting) , then deposit into FX Choice m(1 of FX Choice suggested deposit methods)…so an added hassle and cost, but FX Choice is a good broker with great regular account reports and leverage and Alberta friendly so can get trading.
MadMax
Oanda…
Roland
I tried Oanda in February 2019 and they wouldn’t take my application with an Alberta address. Has that changed?
Roland
I have an account with Prime Global who is regulated in Australia and is strongly affiliated with one of the largest banks in Australia. They keep their client money in a completely segregated trust and have been extremely transparent about how trades are filled. They’ve always been very responsive… but not regulated in Canada.
LIONEL
HI DID YOU EVER GET YOUR EPAYMENT ACCT WORKING I BEEN TRYING FOR OVER AWEEK AND BEEN HAVING PROBLEMS
Malcolm
Hi Alphonse, have you had any issues getting money back from Vantage FX?
Malcolm
Hello Roland, I’ve read some good things about Global Prime. Have you had any issues getting money back from them? It’s a pain with this draconian ASC rules. Just trying to find a reputable offshore FX broker :-)
Forex Strategy Queen
There are brokers that are registered through IIROC, however, in order to open an account you must have accredited investor status. I have tried both oanda and forex.com and they both said that if there was proof of residency outside Alberta it is no problem. The issue is that Alberta securities commission disallows individual Albertans to participate. This means that Albertans participating with non regulated brokers do not have any insurance in the instance that the broker goes under.
Blackmamba167
fxtm.com takes Albertans. i’ve been trading with them since Feb 2018. Very stable. Never had a single problem yet.
Blackmamba167
Fxtm.com just informed me that after 2 years with them they are ending my account. Changes to regulations with Albertans. So this relationship is over.
Aziz
Hello. I am an Iranian, and living in Thailand. Do you have any idea, what broker is better I work with them and can be trusted. I want to know if they let me trade here in Thailand or they just service for Canadian? Thanks alot for your time and answer me.
BYE.
Steve
I was trading with Blueberry Markets and they were great. They have just informed me that because im a Canadian citizen my account will be closed. I had 500:1 Leverage with them and am now looking for a new broker.
There is a few that accept Canadians ive come across but only offer 50:1 due to the IIROC. Looking for a way around that I guess
Gani Ajeigbe
I live in Edmonton, Alberta and wants to go into force trading, newly. Please, give a guide as regard laws, regulations and whim and where to learn in order not or be scammed.
Thank you
Nick
Honestly, I am probably not the best person to ask for this. I am not an expert when it comes to laws and regulations, but there are a lot of great resources online that you can look at I bet.
Gdog
How about Ic market ?
Do they take Canadian traders ?
David
Hi,
Just like to update everyone BBM does not authorize Canadian Residence.
Thanks,
DC
Nick
Thanks David!
ERRAIOUCH
Je suis professionnel
Connie
Hi, I am from Alberta and have been doing a lot of research on brokers who accept Canadians.
I have come across a couple others that are not listed – Friedberg Direct, they come across as a little pushy though, and I have read that they had some issues in the past, but that may have changed by now.
VantageFX.com – They are not IIROC regulated so would that make them illegal to trade with for Canadians. They are however, ISIC regulated. I was considering opening an account with them, since coming across your site, don’t want to do anything illegal.
Nico
Have you founds any good brokers for alberta connie? I was looking for one as well to start with. Let us know! Thank you
ForexQueen
No they still dont.
Plato
Can someone explain the purpose of restricting and prohibiting Albertans and Canadians from Forex trading?
While in the process of opening an account with a broker, I was called by an Alberta securities commission representative, who asked me if I had 5 million or so in the bank or earned 1 million last year. As those conditions would have allowed me to trade.
It seems like the government is interested in helping rich citizens get richer but stepping on those of us who aren’t already rich.
Clint
In Alberta, in order to trade Forex you need to prove your an accredited investor. There are about 10-15 different criteria you can use to prove it. For example, $5M net worth, or $1M investible assets, or personally make $200K+ per year over the last 2 years, or together with your spouse make $300K per year over last 2 years, etc… if you are securities licensed that works as well.
It’s not really about the rich getting richer, but rather they want to make sure you are in a position to lose the everything you’ve invested.
Andy
Any luck finding that “ideal” broker for us Albertans? I was denied my application with Oanda recently when they see my albertan address. I’ve been practicing on Questrade Forex/CFD but any idea if Albertan traders are welcome??
Cheers
Ryan
Has anyone used HongKong Aisait? I have a friend there and they said I should use them I’m a little weary about using them because I e never done this before.
Ryan
Hey man,
I’m from Alberta and I think axis brokerage is regulated for us! Just wanted to let you know.
Thanks, Ryan
Andre Thibeault
I thinks is fucken BS. If I’d make 250 000 $ year I would even care about trading . So unfair . I was really gonna change my life and since you need to be rich to trade in Alberta is fucken retarded. Like why just Alberta .
Andre Thibeault
You need to be rich first . Simple . ALBERTA is different from any other province in Canada . Fucken BS
Andrew
Non of these sites will allow you to trade in alberta unless you are an accredited investor
Shiv
Sent my application to open an account with forex.com, and this is what they replied with; “Currently, we only accept clients from the Province of Alberta whom qualify as an Accredited Investor.”
If you don’t have income over $200k or assets over $1M, forget about it.
Cole
Can I set up an Alberta corporation for trading FX just to get over the stupid accredit investors rules? Anyone knows?
Paul
Hi guys I am pissed off Albertan. I had Vantage FX account for almost 3 years. On November 30.2020 they are closing my account with only 5 days notice. Fuckers.
Please let me know if you find good broker. Thank you.
Lance
Hey boss,
Have you found an alternative ?
Lance
So far
The closest thing u can trade in forrex that is regulated through a central exchange is forrex futures. But it’s not the most liquid. I trade futures like e mini s and p and Nasdaq futures. ES and NQ. Micro lots are MES and MNQ. See the centralized exchange Chicago mercantile. CME.
Brokers available with tick data are GFF brokers and AMP futures.
Elder
Has anyone in Alberta thought of opening an account with a non-Alberta address? Probably incorporate a company with a friend’s address in another province. Technically the company is not an Alberta residence.
Lauren
Question… how is trading now from alberta? And do you have any updated list of brokers that I can use? Im kind of crushed that I cant trade freely and i dont know where to find brokers that accepts anyone from alberta.
Randy Bourque
If you live in Alberta you can’t join an FX company to do trades, I live in Calgary, Alberta and as citizens we are under the Marxist Socialist Regime called the ASC Alberta Securities Commission.
It is pretty sad that I have no rights to use my money how I see fit especially after I have been in the financial industry for 18 years.
They won’t let us do FX Trading but yet look at all the people who go to all of the Casinos in Alberta and even mortgage their homes to waste their money.
Monir Alnatour
thanks alot
Peter
Hi Elder,
That’s a great point ref opening an account with a non-Alberta address and/or having an incorporate company. Have you had any feed back as to whether this will allow us legally to Trade Forex, CFD’s etc? I’m also looking at Trading with a Prop Company as opposed to opening my own live account and looking into seeing if this gets around the ASC BS.