The Best Forex trading Canada - Reviewed Forex brokers in CA

Broker Recommendations for HFT in Canada

As the title says, I’m looking for broker recommendations for high frequency trading in Canada.
I’m open to recommendations based on anything, whether it’s rates for live market data, commission fees, access to historical data for backtesting, or whatever else you feel makes the broker competitive.
Looking to trade forex and stocks.
submitted by magnifia to algotrading [link] [comments]

Forex Trading Platforms Canada

There are variety of Forex trading platforms, and selecting which Forex broker to use from a platform-first perspective means we first got to check out the difference between the 2 major sorts of platforms – cross-broker platforms and proprietary trading platforms.
submitted by comparethemfx00 to u/comparethemfx00 [link] [comments]

Strategy:SPX Meium - High Risk Copy Trading - Intraday.

Strategy Results - http://www.myfxbook.com/members/DeanBlack/client-copy-medhigh/7422920
All results are tracked on real client accounts to show the net results after fees. The brokers with the highest spreads are use, to give a reflection of the worst expected results.

Who is This Strategy For?
This strategy is for you if you have a higher risk tolerance and are looking for an investmen tment with higher liquidity. This is an intraday strategy that will close all trades by the end of the US trading session making all equity available to investors at the end of each trading day.
Brokerage Requirements: This strategy trades CFDs and is not suitable for US / Canada residents. Brokers offering CFDs on indices (Specifically the S&P500) is a requirement.

Tested Brokers: The strategy is confirmed to work on the following brokers;
: IC Markets (Best results). RoboForex
Minimum Investment: $650 minimum is optimal for these risk settings. Anything under $500 will be higher risk. Anything under $400 failed all tests on this and is strongly discouraged.
Leverage Required: This strategy requires 1:50 leverage (With a minimum $650 investment).
Average Duration of trades: Trades will be held usually 2 - 12 hours and close on the same day they are opened.
The strategy will risk a maximum of 5% over all positions at any one time. If the strategy has been losing the maximum risk per position will be decreased. If over 30% drawdown the maximum risk will be 2.5%. If over 40% drawdown the maximum risk will be 1.5%.
Note, this refers to the parent strategy. Not individual copiers. If you connect a new account while the strategy is 10% down you will start on reduced risk although your account is not down. This measure is in place to protect the accounts of all investors and make the strategy stable to support long term compounding of gains.
Maximum Loss: This strategy will stop trading if a loss of 65% (From high water mark) is hit. It will stop trading for at least three days to give the investors time to decide if they want to continue and the trading team time to check if adjustments to the strategy;s copier settings need to be made.
Automatic Stop on Loss: This strategy has an automated stop loss on trading at 65%. At 35% the copying software will shut down, all trades will be closed and no new trades opened for a period of at least 3 days.

Strategy Results -http://www.myfxbook.com/members/DeanBlack/client-copy-medhigh/7422920
All results are tracked on real client accounts to show the net results after fees. The brokers with the highest spreads are use, to give a reflection of the worst expected results.
submitted by 2020sbear to u/2020sbear [link] [comments]

Best broker for equity/forex in Canada!

Hey guys , what do you think is the best discount broker in Canada for swing trading forex and equity markets in Canada. I tried wealth simple but it doesn't allow forex or short selling. Other seem pretty expensive to me charging close to 5$ per transaction.
submitted by TheEverythingGuy- to StockMarket [link] [comments]

Canada’s Binary Options Problem

Canada’s recurring binary options problem

Approximately seven months ago the Canadian financial regulatory authorities enacted a ban on brokers offering binary options to all retail traders. Unfortunately, these actions seemed to have had little to no results on certain brokers that have implemented new tactics in order to gather money from unsuspecting investors.
On April 12th the Investment Industry Regulatory Organization of Canada, more commonly referred to the IIROC cautioned Canadian traders not to be duped by fraudulent online trading brokers attempting to unlawfully sell binary options under the pretense of legitimate brokers regulated by the IIROC.

Binary options scams still exist

Recently the ombudsman has been made aware of at least two brokers that misleadingly state that they are regulated by IIROC:

Binary options cannot be offered or sold to retail traders in Canada and the regulator has issued plenty of warnings, imploring Canadian citizens not to invest in these fraudulent companies. Under no circumstances are IIROC regulated entities authorized to sell binary options to retail investors in Canada.
This troubling tendency is bringing up concerns about how effective a blanket ban on offering of such toxic products as binaries to stop scams. ESMA, the European Securities and Markets Authority has recently put in rules that prohibit regulated brokers from offering binary options to retail investors. However, these recent developments in Canada call into question on whether a ban in Europe would, in fact, produce the wanted effect.

Opposition to the binary options ban

It should be noted that when the Canadian regulatory authorities first suggested to ban binary options, the proposal encountered stern opposition. The Investment Industry Association of Canada (IIAC), which represents 130 Dealer Member firms regulated by IIROC, asserted that the injunction should only include binary options scams offered by unregulated binary options brokers. The IIAC further maintained that its members should be allowed to offer binary options to retail traders.
Interestingly enough there have been proposals to allow trading binary options on an exchange, as this is allowed in the United States. However, opposed to that line of thinking are organizations such as the Canadian Advocacy Council for Canadian CFA Institute Societies (CAC), which heavily supported the binary options ban proposal and even went beyond it by questioning the status of OTC (Over the Counter) or more commonly known as retail Forex trading. The council questioned whether the sale of similar financial instruments to retail investors should additionally be restricted.

Get help now

If you have fallen victim to a cryptocurrency scam, send a complaint to at [[email protected]](mailto:[email protected]), and we will do our very best to get into contact with you as soon as we can to initiate your funds recovery process.
submitted by asaston to u/asaston [link] [comments]

Google Play to Ban Binary Options

Google Play set to ban binary options

Google Play recently came out with new updates and policies for April 2018 spanning over a number of topics including hate speech, child endangerment, user produced content, fantasy sports apps, and app metadata. Additionally, included in the April memo was a short note concerning “a new policy on Binary Options”, in which Google play states the following:
“We do not allow apps that provide users with the ability to trade binary options.”
Last summer, after coming under intensive scrutiny from financial ombudsman across the globe, including ASIC of Australia and Canada’s several regional regulators, Google acted against a number of financial-related apps providing either unlicensed services, or apps that were known to promote dishonest behavior. Most of that “action” included removing numerous Binary Options trading apps linked to unlicensed and unregulated “offshore” firms. However, there was never a blanket ban against those types of apps. Regulated brokers providing Binary Options trading could remain on Google Play until now.
Apple, however, passed a complete ban on Binary Options apps at around the same time in its App Store. Last month, after increased pressure from various regulators Google AdWords issued a ban on all Binary Options associated ads, as part of a new controlled financial products procedure. Additionally, Google banned all crypto and ICO ads, and in June 2018 it will demand prior advertiser certification for running ads pertaining to other types of financial trading products including Contracts for Difference (CFDs) and spot forex. It comes as no surprise that Google Play is now taking similar action by instituting a blanket ban on Binary apps.

Is the end of binary options?

It’s becoming increasingly apparent that Binary Options trading – even when regulated – will not be able to make a comeback. Leading European regulator ESMA is additionally preparing a Binary Options ban. This comes as it is in the midst of enacting new laws governing leveraged and online trading. The new regulations are scheduled to come into effect across the EU later this year.
The new Google Play binary options policy for April 2018 can be seen here.

Contact us today

If you have fallen victim to a cryptocurrency scam, send a complaint to at [[email protected]](mailto:[email protected]), and we will do our very best to get into contact with you as soon as we can to initiate your funds recovery process.
submitted by asaston to u/asaston [link] [comments]

Looking for a reputable broker in Canada

Hi, I'm new to Forex and have been practicing on my dummy account for a while on MT5, but want to start trading real money. Hoping someone can point me to a reputable broker to get started with. I live in Ontario Canada if that matters. I know there's apparently a lot of shady brokers out there so I'm hoping to find a proper one.
Any other advice is also welcome.
submitted by harkmar to Forex [link] [comments]

Can anyone explain why this is happening or how to avoid? Am I encountering this because it’s a practice account? Makes me hesitant to trade for real if I can’t guarantee I can close the position

Can anyone explain why this is happening or how to avoid? Am I encountering this because it’s a practice account? Makes me hesitant to trade for real if I can’t guarantee I can close the position submitted by Weberr to Forex [link] [comments]

Google Play to Ban Binary Options

Google Play set to ban binary options

Google Play recently came out with new updates and policies for April 2018 spanning over a number of topics including hate speech, child endangerment, user produced content, fantasy sports apps, and app metadata. Additionally, included in the April memo was a short note concerning “a new policy on Binary Options”, in which Google play states the following:
“We do not allow apps that provide users with the ability to trade binary options.”
Last summer, after coming under intensive scrutiny from financial ombudsman across the globe, including ASIC of Australia and Canada’s several regional regulators, Google acted against a number of financial-related apps providing either unlicensed services, or apps that were known to promote dishonest behavior. Most of that “action” included removing numerous Binary Options trading apps linked to unlicensed and unregulated “offshore” firms. However, there was never a blanket ban against those types of apps. Regulated brokers providing Binary Options trading could remain on Google Play until now.
Apple, however, passed a complete ban on Binary Options apps at around the same time in its App Store. Last month, after increased pressure from various regulators Google AdWords issued a ban on all Binary Options associated ads, as part of a new controlled financial products procedure. Additionally, Google banned all crypto and ICO ads, and in June 2018 it will demand prior advertiser certification for running ads pertaining to other types of financial trading products including Contracts for Difference (CFDs) and spot forex. It comes as no surprise that Google Play is now taking similar action by instituting a blanket ban on Binary apps.

Is the end of binary options?

It’s becoming increasingly apparent that Binary Options trading – even when regulated – will not be able to make a comeback. Leading European regulator ESMA is additionally preparing a Binary Options ban. This comes as it is in the midst of enacting new laws governing leveraged and online trading. The new regulations are scheduled to come into effect across the EU later this year.
The new Google Play binary options policy for April 2018 can be seen here.

Contact us today

If you are the victim of an HBC Broker scam be sure to send your complaint to [[email protected]](mailto:[email protected]), and we will do our very best to get into contact with you as soon as we can to initiate your funds recovery process.
submitted by taifkhan420 to u/taifkhan420 [link] [comments]

Canada’s Binary Options Problem

Canada’s recurring binary options problem

Approximately seven months ago the Canadian financial regulatory authorities enacted a ban on brokers offering binary options to all retail traders. Unfortunately, these actions seemed to have had little to no results on certain brokers that have implemented new tactics in order to gather money from unsuspecting investors.
On April 12th the Investment Industry Regulatory Organization of Canada, more commonly referred to the IIROC cautioned Canadian traders not to be duped by fraudulent online trading brokers attempting to unlawfully sell binary options under the pretense of legitimate brokers regulated by the IIROC.

Binary options scams still exist

Recently the ombudsman has been made aware of at least two brokers that misleadingly state that they are regulated by IIROC:
Binary options cannot be offered or sold to retail traders in Canada and the regulator has issued plenty of warnings, imploring Canadian citizens not to invest in these fraudulent companies. Under no circumstances are IIROC regulated entities authorized to sell binary options to retail investors in Canada.
This troubling tendency is bringing up concerns about how effective a blanket ban on offering of such toxic products as binaries to stop scams. ESMA, the European Securities and Markets Authority has recently put in rules that prohibit regulated brokers from offering binary options to retail investors. However, these recent developments in Canada call into question on whether a ban in Europe would, in fact, produce the wanted effect.

Opposition to the binary options ban

It should be noted that when the Canadian regulatory authorities first suggested to ban binary options, the proposal encountered stern opposition. The Investment Industry Association of Canada (IIAC), which represents 130 Dealer Member firms regulated by IIROC, asserted that the injunction should only include binary options scams offered by unregulated binary options brokers. The IIAC further maintained that its members should be allowed to offer binary options to retail traders.
Interestingly enough there have been proposals to allow trading binary options on an exchange, as this is allowed in the United States. However, opposed to that line of thinking are organizations such as the Canadian Advocacy Council for Canadian CFA Institute Societies (CAC), which heavily supported the binary options ban proposal and even went beyond it by questioning the status of OTC (Over the Counter) or more commonly known as retail Forex trading. The council questioned whether the sale of similar financial instruments to retail investors should additionally be restricted.

Get help now

If you are the victim of an HBC Broker scam be sure to send your complaint to [[email protected]](mailto:[email protected]), and we will do our very best to get into contact with you as soon as we can to initiate your funds recovery process.
submitted by taifkhan420 to u/taifkhan420 [link] [comments]

Forex Trading Platforms Canada

Trade on a suite of powerful trading platforms designed to meet the demanding needs of active traders looking for maximum performance, flexibility and speed.Forex Trading Platforms Canada is heavily regulated. For many traders this is a good thing, but there are also some who think the strict regulations are a nuisance.
submitted by comparethemfx00 to u/comparethemfx00 [link] [comments]

I just started learning about Forex trading

Hi all! I just started learning Forex trading last week and i don't have any professionals to guide me so i'm hoping i could find some help here. I'm not a very smart person when it comes to this so i apologize in advance if i end up asking pretty dumb questions.
  1. So far i have learned about PIPs, leverage, stoploss for risk management and reading the candlestick chart. The topics in this area could be very broad so i'm wondering what are some of the other areas i should look into as well.
  2. As a beginner, how do i know i'm confident enough to actually start trading with real money? I don't intend to jump straight into trading but i'm wondering how much time i should invest on researching and self-teaching.
  3. Is it possible to invest as low as $10? I'm currently residing in Canada and i'm not sure which broker is the best to use.
I honestly do have A LOT more questions but i will settle for the three questions above i have for now. Would appreciate if there are any professionals out there who could guide me along.
Thanks in advance!

Edit: I have been approached by a couple of "traders" through private messages promoting their own websites and courses with a fee required from me. Please do not approach me for any self-promotion for your business. Thank you!
submitted by annmateur to Forex [link] [comments]

Currency Futures (Canadian dollar D6) - How do I go about hedging by Exposure to USD

Hi there,
My base currency is Canadian and I hold some USD exposure right now due to investments. I am new to using Interactive Brokers and futures trading.
To my understanding it is possible to mantain a hedge using the cash-settled large and mini Currency Futures Contract and occasionally adjust depending on your USD exposure.
https://www.cmegroup.com/trading/fx/g10/canadian-dollar.html
Per https://www.retailinvestor.org/hedge.html#risk
"It is too expensive to hedge." The cost to buy a $100,000 futures contract good for a year, is about $5. Pittance. Yes you must provide collateral but that is not a cost. You will also find that buried somewhere in whatever method you chose, is a cost/benefit equal to the difference in interest rates between the countries. Since Canada and US rates are so close you can cancel out any cost by using limit orders that let normal market volatility make up the difference.
The fund managers who say hedging is expensive are referring to using options. This method IS expensive. Options are a one-sided bet on the direction of FX, expiring within a specific time span. They are not hedges.
The cash funding of open futures contracts come from the daily settlements. If your position gains $1,000 in value one day, there will be $1,000 put into your account. More importantly, if your position loses $1,000, it will be taken from your account. If there is not sufficient cash your broker will consider it borrowed and charge you interest. You must realize that because this is a hedge, you are not 'losing' that cash. For every dollar you might lose in the futures account, the offsetting investment in the foreign security will have gained the same amount. Agreed, you cannot liquidate that cash daily, but the value is there."

1) Anybody have any experience in this in how to consider which month of futures contract to purchase, (near month or 1 year from now if I want one year of) I believe futures contract automatically roll-forward to the next month.
The Price Curve seems to curve down, and is in some sort of backwardation? So farther away in time cost more due to priced in uncertainty - and also more thinly traded?
2) Collateral is required so I assume is some sort of Margin that is required to maintain the contract,
3) What are the calculations to determine how much to hedge out. Say I have $100k USD?
Is it just Looking at say $100k USD x the Future Price Rate (of CAD/USD) or the current Spot Forex Exchange Rate?
I.e. $100k USD / 0.74500s (Aug '20) = $134k CAD ~
So 1 $100k CAD Contract and 3-4 $10k CAD mini contracts?
4) Any resources to learn about this?

Thanks in advance
submitted by sedul2012 to FuturesTrading [link] [comments]

Canadian broker selection

I'm looking to start trading Forex with money, I'm done with Demo.vI was looking at regulated brokers for Canada and so far my choice would be between Oanda and Friedberg Direct. Does anyone have experience with Friedberg? What would be the best choice? I don't like the overnight fees with Friedberg since I do swing trading...
submitted by gogoprovost to Forex [link] [comments]

Forex beginner

I've been day trading ETFs lately but wanted to also do some forex swing trading on the side on the 1hr & 4hr time frame.
What are the basic things I need to know to start? Not talking about strategies, I mean like when markets open, best brokers (canada), terminology...
Thanks
submitted by OppositeHold1 to Daytrading [link] [comments]

Forex signal provider in Malaysia


If you are looking for a forex signal provider in Malaysia, Canada, or England, we have got you covered.
Just sign up to our service and let’s get to work!
Trading wasn’t always what it is today. Before, only big banks and investors used to participate in this business. It was a lot more exclusive. The level of investment per trade was big; too big for the average man.
However, in 1971 things changed. An Electronic Communication Network (ECN) was developed and implemented that allowed people to participate in the market from all over the world.
Then brokers began to offer leverage as well as discounts on their commissions which attracted more people to the currency market.
submitted by DueValuable15 to u/DueValuable15 [link] [comments]

The Daily Autist 03/31/20 For The Autists, By An Autist

The Daily Autist

03/31/20

TLDR Of The News To Inform Your Moves
Dumb bulls and gay bears, welcome. Robinhood falsely gave me a PDT warning so I can’t buy or sell anything until it’s fixed. Until 04/03 I’m effectively just a spectator as I can’t close any position I open. My QQQ and SPY options will expire worthless when the market closes due to not being able to close after opening positions to sell later in the day yesterday. So get ready for a bitter one. (I know RH is shit, but everywhere else requires minimum balances or an arbitrary pass/fail determination so it is what it is)

WSB Summary

Y’all can look forward to this being on the news in a day or two, or even longer if he ends up going to court over it. If ever you want to get back at a shitty email, the best thing to do is post it to Reddit rather than reply bitterly.
My broker (Questrade) wants me to sign an NDA saying I won't talk shit about them after offering me $1200 USD as compensation for losing $50000 from outages : wallstreetbets
A meme sums up the end of last week and Monday better than any article.
All it takes is a printer to save the day : wallstreetbets
This gentleman will insert a beer in his ass if there’s a -10% day “anytime soon.” So roughly two weeks. What a total retard and I salute him.
I will butt chug a Corona if we see another -10% day anytime soon : wallstreetbets

Corona Dump

Nothing says “If you help with the pandemic you will be punished,” quite like going viral because of a difficult moment then having your house blow away.
https://www.cnn.com/2020/03/30/us/arkansas-tornado-destroys-doctors-home-trnd/index.htmlAMZN fired the worker who spoke out about their policies. I would say puts on AMZN but since bad news = good news last the last week amazon should break 2k again very soon.
https://www.cnbc.com/2020/03/30/amazon-fires-staten-island-coronavirus-strike-leader-chris-smalls.html
Sections of GE that is still open and making other random medical and electrical shit are striking to divert their energy to ventilators. Kudos to them fr. https://www.independent.co.uk/news/world/americas/coronavirus-general-electric-workers-ventilators-work-stoppage-labor-massachusetts-a9436881.html
It’s almost like having healthcare be a for-profit industry means people will try to profit off medical treatments. I hate this “now I'm woke but in 3 months I won’t be,” garbage people are doing for clicks.
https://www.propublica.org/article/taxpayers-paid-millions-to-design-a-low-cost-ventilator-for-a-pandemic-instead-the-company-is-selling-versions-of-it-overseas-
Killing our medical workers due to negligence and worry for the market. I recommend reading this when the market closes as it’s a little long and not related to the market other than warning things will continue to get worse rather than better for the near future stability wise.
https://www.medscape.com/viewarticle/927811?nlid=134774_3901&src=wnl_newsalrt_200330_MSCPEDIT&uac=24257DJ&impID=2329672&faf=1

Business/Finance

Now that Canada passed the extra stimulus for its citizens Air Canada laid off its employees. This is how it was supposed to work for the US. Still, a sign that if not artificially kept afloat by the government these airlines are fucked.
https://www.thestandard.com.hk/breaking-news/section/2/144720/Air-Canada-lays-off-16,500-staff-due-to-virus
Turns out the two most rapidly growing and advancing countries will continue to grow and advance while the rest of the world falls backward. 200 IQ play by China
https://m.economictimes.com/news/economy/indicators/world-economy-will-go-into-recession-with-likely-exception-of-india-china-united-nations/articleshow/74905696.cms
China is reopening manufacturing. They have enough people to let the virus do it’s thing and not care. They don’t have audited medical numbers. This is bad for short term puts.
https://www.reuters.com/article/us-china-economy-pmi-factory-official/china-factory-activity-unexpectedly-expands-but-economy-unable-to-shake-off-virus-shock-idUSKBN21I05S
USD continues to be king. What a time to be alive.
https://www.reuters.com/article/global-forex/forex-dollar-gains-yuan-steady-after-china-pmi-in-cautious-trade-idUSL4N2BO1NJ
Futures continue their bullish trend with another 1% gain overnight. Until there’s another manic day of 6%+ it’s looking the bulls are still in control in a stable manner.
https://www.foxbusiness.com/markets/stock-futures-trade-cautiously-higher-after-mondays-rally
Premarket 261-263 all morning. What is this boring stable shit? 261.93 at time of posting (06:50 EST)

NostraLosses Prediction:

Keep buying short term calls until there’s a significant signal otherwise. All the DD in the world gets wiped out by a heavy enough BRRRRRRRt. I got some far OTM calls to hedge my put bets Friday EOD and Monday and if it weren’t for the false PDT warning I would have almost made back the losses to be back to even. So try not to go full retard on the puts, and if you can afford it, don’t use Robinhood.

Post your thoughts, questions, complaints, compliments, and plays in the comments.

Edited for formatting errors due to importing from Grammarly.
submitted by AvocadosAreMeh to wallstreetbets2 [link] [comments]

TradingView in Canada for stocks?

Hi all, I'm newer to trading stocks and I really love the TradingView interface.
I'm in Canada and there are few options here for brokerages. I was wondering if anyone has been able to find a brokerage with stocks (not forex) that works on TradingView?
I've been trying papertrading with Interactive Brokers and have found it really frustrating.
Any insight/recommendations would be really, really appreciated!
Thank you
submitted by readingallthethreads to StockMarket [link] [comments]

Forex signal provider in Malaysia


If you are looking for a forex signal provider in Malaysia, Canada, or England, we have got you covered.
Just sign up to our service and let’s get to work!
Trading wasn’t always what it is today. Before, only big banks and investors used to participate in this business. It was a lot more exclusive. The level of investment per trade was big; too big for the average man.
However, in 1971 things changed. An Electronic Communication Network (ECN) was developed and implemented that allowed people to participate in the market from all over the world.
Then brokers began to offer leverage as well as discounts on their commissions which attracted more people to the currency market.
Eventually it was the internet that led to the forex market becoming what it is.
This accessibility has helped service providers reach every nook and cranny offering new and improved opportunities and a better shot at successful trading to everyone.
Where Signal Skyline stands
Signal Skyline is a globally acclaimed signal service for forex trading. With a solid trading record backing us and a team comprising of the best in the business we are available to offer assistance through signals all over the world.
submitted by DueValuable15 to u/DueValuable15 [link] [comments]

Signal Skyline Forex Signal Provider


Are you just starting out and struggling to find your footing in the forex market as a day trader? Well, this might be the solution you’re looking for.
reliable forex signals are predictions made by market experts to help traders make the right moves with their positions.
Here is how it works:
  1. Experts use past data as well as take into account present day market conditions to come up with projections for pairs.
  2. These projections include a buy or sell prompt along with suggestions for entry, exit, stop loss, and take profit levels.
  3. The signals are sent directly to the trader’s email address as well as their mobile phone so they don’t miss any opportunities.
  4. It works globally so you don’t have to be looking for forex signal provider Malaysia or Canada. The fact that they also function on email means that you could be anywhere and as long as you have an internet connection, you will get expert suggestions on a daily basis.
  5. Traders then use these suggestions and signals along with their own analysis to make sure that they make informed decisions.
  6. One can unsubscribe any time they want if they think the service isn’t working for them.
Forex trading around the globe
Trading wasn’t always what it is today. Before, only big banks and investors used to participate in this business. It was a lot more exclusive. The level of investment per trade was big; too big for the average man.
However, in 1971 things changed. An Electronic Communication Network (ECN) was developed and implemented that allowed people to participate in the market from all over the world.
Then brokers began to offer leverage as well as discounts on their commissions which attracted more people to the currency market.
Eventually it was the internet that led to the forex market becoming what it is.
This accessibility has helped service providers reach every nook and cranny offering new and improved opportunities and a better shot at successful trading to everyone.
Where Signal Skyline stands
Signal Skyline is a globally acclaimed signal service for forex trading. With a solid trading record backing us and a team comprising of the best in the business we are available to offer assistance through signals all over the world.
If you are looking for a forex signal provider in Malaysia, Canada, or England, we have got you covered.
Just sign up to our service and let’s get to work!
submitted by DueValuable15 to u/DueValuable15 [link] [comments]

Must have networth >20k for Interactive Brokers

I have recently turned 18 and have long been interest in trading currency on forex, I am trying to set up an account with Interactive Brokers and when I put in my networth which is currently less than 20000 USD since I am 18. I however have like $5000 to play around with keep in mind I have been practicing with demo accounts for a couple years so I am not just jumping into this. But when I try to create an account it says I must have a liquid net worth greater than 20000, so does it matter if I lie about how much money I have? Like will they verify it?
P.S I live in Canada
submitted by EarlGrey171 to Forex [link] [comments]

How to get started in Forex - A comprehensive guide for newbies

Almost every day people come to this subreddit asking the same basic questions over and over again. I've put this guide together to point you in the right direction and help you get started on your forex journey.

A quick background on me before you ask: My name is Bob, I'm based out of western Canada. I started my forex journey back in January 2018 and am still learning. However I am trading live, not on demo accounts. I also code my own EA's. I not certified, licensed, insured, or even remotely qualified as a professional in the finance industry. Nothing I say constitutes financial advice. Take what I'm saying with a grain of salt, but everything I've outlined below is a synopsis of some tough lessons I've learned over the last year of being in this business.

LET'S GET SOME UNPLEASANTNESS OUT OF THE WAY

I'm going to call you stupid. I'm also going to call you dumb. I'm going to call you many other things. I do this because odds are, you are stupid, foolish,and just asking to have your money taken away. Welcome to the 95% of retail traders. Perhaps uneducated or uninformed are better phrases, but I've never been a big proponent of being politically correct.

Want to get out of the 95% and join the 5% of us who actually make money doing this? Put your grown up pants on, buck up, and don't give me any of this pc "This is hurting my feelings so I'm not going to listen to you" bullshit that the world has been moving towards.

Let's rip the bandage off quickly on this point - the world does not give a fuck about you. At one point maybe it did, it was this amazing vision nicknamed the American Dream. It died an agonizing, horrible death at the hand of capitalists and entrepreneurs. The world today revolves around money. Your money, my money, everybody's money. People want to take your money to add it to theirs. They don't give a fuck if it forces you out on the street and your family has to live in cardboard box. The world just stopped caring in general. It sucks, but it's the way the world works now. Welcome to the new world order. It's called Capitalism.

And here comes the next hard truth that you will need to accept - Forex is a cruel bitch of a mistress. She will hurt you. She will torment you. She will give you nightmares. She will keep you awake at night. And then she will tease you with a glimmer of hope to lure you into a false sense of security before she then guts you like a fish and shows you what your insides look like. This statement applies to all trading markets - they are cruel, ruthless, and not for the weak minded.

The sooner you accept these truths, the sooner you will become profitable. Don't accept it? That's fine. Don't bother reading any further. If I've offended you I don't give a fuck. You can run back home and hide under your bed. The world doesn't care and neither do I.

For what it's worth - I am not normally an major condescending asshole like the above paragraphs would suggest. In fact, if you look through my posts on this subreddit you will see I am actually quite helpful most of the time to many people who come here. But I need you to really understand that Forex is not for most people. It will make you cry. And if the markets themselves don't do it, the people in the markets will.

LESSON 1 - LEARN THE BASICS

Save yourself and everybody here a bunch of time - learn the basics of forex. You can learn the basics for free - BabyPips has one of the best free courses online which explains what exactly forex is, how it works, different strategies and methods of how to approach trading, and many other amazing topics.

You can access the BabyPips course by clicking this link: https://www.babypips.com/learn/forex

Do EVERY course in the School of Pipsology. It's free, it's comprehensive, and it will save you from a lot of trouble. It also has the added benefit of preventing you from looking foolish and uneducated when you come here asking for help if you already know this stuff.

If you still have questions about how forex works, please see the FREE RESOURCES links on the /Forex FAQ which can be found here: https://www.reddit.com/Forex/wiki/index

Quiz Time
Answer these questions truthfully to yourself:

-What is the difference between a market order, a stop order, and a limit order?
-How do you draw a support/resistance line? (Demonstrate it to yourself)
-What is the difference between MACD, RSI, and Stochastic indicators?
-What is fundamental analysis and how does it differ from technical analysis and price action trading?
-True or False: It's better to have a broker who gives you 500:1 margin instead of 50:1 margin. Be able to justify your reasoning.

If you don't know to answer to any of these questions, then you aren't ready to move on. Go back to the School of Pipsology linked above and do it all again.

If you can answer these questions without having to refer to any kind of reference then congratulations, you are ready to move past being a forex newbie and are ready to dive into the wonderful world of currency trading! Move onto Lesson 2 below.

LESSON 2 - RANDOM STRANGERS ARE NOT GOING TO HELP YOU GET RICH IN FOREX

This may come as a bit of a shock to you, but that random stranger on instagram who is posting about how he is killing it on forex is not trying to insprire you to greatness. He's also not trying to help you. He's also not trying to teach you how to attain financial freedom.

99.99999% of people posting about wanting to help you become rich in forex are LYING TO YOU.

Why would such nice, polite people do such a thing? Because THEY ARE TRYING TO PROFIT FROM YOUR STUPIDITY.

Plain and simple. Here's just a few ways these "experts" and "gurus" profit from you:


These are just a few examples. The reality is that very few people make it big in forex or any kind of trading. If somebody is trying to sell you the dream, they are essentially a magician - making you look the other way while they snatch your wallet and clean you out.

Additionally, on the topic of fund managers - legitimate fund managers will be certified, licensed, and insured. Ask them for proof of those 3 things. What they typically look like are:

If you are talking to a fund manager and they are insisting they have all of these, get a copy of their verification documents and lookup their licenses on the directories of the issuers to verify they are valid. If they are, then at least you are talking to somebody who seems to have their shit together and is doing investment management and trading as a professional and you are at least partially protected when the shit hits the fan.


LESSON 3 - UNDERSTAND YOUR RISK

Many people jump into Forex, drop $2000 into a broker account and start trading 1 lot orders because they signed up with a broker thinking they will get rich because they were given 500:1 margin and can risk it all on each trade. Worst-case scenario you lose your account, best case scenario you become a millionaire very quickly. Seems like a pretty good gamble right? You are dead wrong.

As a new trader, you should never risk more than 1% of your account balance on a trade. If you have some experience and are confident and doing well, then it's perfectly natural to risk 2-3% of your account per trade. Anybody who risks more than 4-5% of their account on a single trade deserves to blow their account. At that point you aren't trading, you are gambling. Don't pretend you are a trader when really you are just putting everything on red and hoping the roulette ball lands in the right spot. It's stupid and reckless and going to screw you very quickly.

Let's do some math here:

You put $2,000 into your trading account.
Risking 1% means you are willing to lose $20 per trade. That means you are going to be trading micro lots, or 0.01 lots most likely ($0.10/pip). At that level you can have a trade stop loss at -200 pips and only lose $20. It's the best starting point for anybody. Additionally, if you SL 20 trades in a row you are only down $200 (or 10% of your account) which isn't that difficult to recover from.
Risking 3% means you are willing to lose $60 per trade. You could do mini lots at this point, which is 0.1 lots (or $1/pip). Let's say you SL on 20 trades in a row. You've just lost $1,200 or 60% of your account. Even veteran traders will go through periods of repeat SL'ing, you are not a special snowflake and are not immune to periods of major drawdown.
Risking 5% means you are willing to lose $100 per trade. SL 20 trades in a row, your account is blown. As Red Foreman would call it - Good job dumbass.

Never risk more than 1% of your account on any trade until you can show that you are either consistently breaking even or making a profit. By consistently, I mean 200 trades minimum. You do 200 trades over a period of time and either break-even or make a profit, then you should be alright to increase your risk.

Unfortunately, this is where many retail traders get greedy and blow it. They will do 10 trades and hit their profit target on 9 of them. They will start seeing huge piles of money in their future and get greedy. They will start taking more risk on their trades than their account can handle.

200 trades of break-even or profitable performance risking 1% per trade. Don't even think about increasing your risk tolerance until you do it. When you get to this point, increase you risk to 2%. Do 1,000 trades at this level and show break-even or profit. If you blow your account, go back down to 1% until you can figure out what the hell you did differently or wrong, fix your strategy, and try again.

Once you clear 1,000 trades at 2%, it's really up to you if you want to increase your risk. I don't recommend it. Even 2% is bordering on gambling to be honest.


LESSON 4 - THE 500 PIP DRAWDOWN RULE

This is a rule I created for myself and it's a great way to help protect your account from blowing.

Sometimes the market goes insane. Like really insane. Insane to the point that your broker can't keep up and they can't hold your orders to the SL and TP levels you specified. They will try, but during a flash crash like we had at the start of January 2019 the rules can sometimes go flying out the window on account of the trading servers being unable to keep up with all the shit that's hitting the fan.

Because of this I live by a rule I call the 500 Pip Drawdown Rule and it's really quite simple - Have enough funds in your account to cover a 500 pip drawdown on your largest open trade. I don't care if you set a SL of -50 pips. During a flash crash that shit sometimes just breaks.

So let's use an example - you open a 0.1 lot short order on USDCAD and set the SL to 50 pips (so you'd only lose $50 if you hit stoploss). An hour later Trump makes some absurd announcement which causes a massive fundamental event on the market. A flash crash happens and over the course of the next few minutes USDCAD spikes up 500 pips, your broker is struggling to keep shit under control and your order slips through the cracks. By the time your broker is able to clear the backlog of orders and activity, your order closes out at 500 pips in the red. You just lost $500 when you intended initially to only risk $50.

It gets kinda scary if you are dealing with whole lot orders. A single order with a 500 pip drawdown is $5,000 gone in an instant. That will decimate many trader accounts.

Remember my statements above about Forex being a cruel bitch of a mistress? I wasn't kidding.

Granted - the above scenario is very rare to actually happen. But glitches to happen from time to time. Broker servers go offline. Weird shit happens which sets off a fundamental shift. Lots of stuff can break your account very quickly if you aren't using proper risk management.


LESSON 5 - UNDERSTAND DIFFERENT TRADING METHODOLOGIES

Generally speaking, there are 3 trading methodologies that traders employ. It's important to figure out what method you intend to use before asking for help. Each has their pros and cons, and you can combine them in a somewhat hybrid methodology but that introduces challenges as well.

In a nutshell:

Now you may be thinking that you want to be a a price action trader - you should still learn the principles and concepts behind TA and FA. Same if you are planning to be a technical trader - you should learn about price action and fundamental analysis. More knowledge is better, always.

With regards to technical analysis, you need to really understand what the different indicators are tell you. It's very easy to misinterpret what an indicator is telling you, which causes you to make a bad trade and lose money. It's also important to understand that every indicator can be tuned to your personal preferences.

You might find, for example, that using Bollinger Bands with the normal 20 period SMA close, 2 standard deviation is not effective for how you look at the chart, but changing that to say a 20 period EMA average price, 1 standard deviation bollinger band indicator could give you significantly more insight.


LESSON 6 - TIMEFRAMES MATTER

Understanding the differences in which timeframes you trade on will make or break your chosen strategy. Some strategies work really well on Daily timeframes (i.e. Ichimoku) but they fall flat on their face if you use them on 1H timeframes, for example.

There is no right or wrong answer on what timeframe is best to trade on. Generally speaking however, there are 2 things to consider:


If you are a total newbie to forex, I suggest you don't trade on anything shorter than the 1H timeframe when you are first learning. Trading on higher timeframes tends to be much more forgiving and profitable per trade. Scalping is a delicate art and requires finesse and can be very challenging when you are first starting out.


LESSON 7 - AUTOBOTS...ROLL OUT!

Yeah...I'm a geek and grew up with the Transformers franchise decades before Michael Bay came along. Deal with it.

Forex bots are called EA's (Expert Advisors). They can be wonderous and devastating at the same time. /Forex is not really the best place to get help with them. That is what /algotrading is useful for. However some of us that lurk on /Forex code EA's and will try to assist when we can.

Anybody can learn to code an EA. But just like how 95% of retail traders fail, I would estimate the same is true for forex bots. Either the strategy doesn't work, the code is buggy, or many other reasons can cause EA's to fail. Because EA's can often times run up hundreds of orders in a very quick period of time, it's critical that you test them repeatedly before letting them lose on a live trading account so they don't blow your account to pieces. You have been warned.

If you want to learn how to code an EA, I suggest you start with MQL. It's a programming language which can be directly interpretted by Meta Trader. The Meta Trader terminal client even gives you a built in IDE for coding EA's in MQL. The downside is it can be buggy and glitchy and caused many frustrating hours of work to figure out what is wrong.

If you don't want to learn MQL, you can code an EA up in just about any programming language. Python is really popular for forex bots for some reason. But that doesn't mean you couldn't do it in something like C++ or Java or hell even something more unusual like JQuery if you really wanted.

I'm not going to get into the finer details of how to code EA's, there are some amazing guides out there. Just be careful with them. They can be your best friend and at the same time also your worst enemy when it comes to forex.

One final note on EA's - don't buy them. Ever. Let me put this into perspective - I create an EA which is literally producing money for me automatically 24/5. If it really is a good EA which is profitable, there is no way in hell I'm selling it. I'm keeping it to myself to make a fortune off of. EA's that are for sale will not work, will blow your account, and the developer who coded it will tell you that's too darn bad but no refunds. Don't ever buy an EA from anybody.

LESSON 8 - BRING ON THE HATERS

You are going to find that this subreddit is frequented by trolls. Some of them will get really nasty. Some of them will threaten you. Some of them will just make you miserable. It's the price you pay for admission to the /Forex club.

If you can't handle it, then I suggest you don't post here. Find a more newbie-friendly site. It sucks, but it's reality.

We often refer to trolls on this subreddit as shitcunts. That's your word of the day. Learn it, love it. Shitcunts.


YOU MADE IT, WELCOME TO FOREX!

If you've made it through all of the above and aren't cringing or getting scared, then welcome aboard the forex train! You will fit in nicely here. Ask your questions and the non-shitcunts of our little corner of reddit will try to help you.

Assuming this post doesn't get nuked and I don't get banned for it, I'll add more lessons to this post over time. Lessons I intend to add in the future:
If there is something else you feel should be included please drop a comment and I'll add it to the above list of pending topics.

Cheers,

Bob



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