Day Trading Firms in Canada

daytrader_Canada said:
it is a first loss type of funding with min. $2000 to put down which I am fine with. they have structure similar to DTWW which works with other broker dealers so don't think they have to be regulated but they are registered in Canada which does help in case of things going south.

How is wanting a firm to be registered and having a bank account in Canada and not in Cayman/Bahamas contradictory? I don't think you understood what I meant properly
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they have structure similar to DTWW .. hmmm that worries me Not regulated by SEC or UK authority sounds like swift trading!
 
traderjo said:
they have structure similar to DTWW .. hmmm that worries me Not regulated by SEC or UK authority sounds like swift trading!
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yeah I knw I have traded with Swift as well and got lucky that time to have not lost money. but have come to realize any entity offering outside US without PDT will not be regulated by SEC or other regulators. Only thing with Swift was they were banking out of Cayman so this time looking for firms specifically banking in Canada itself
 
daytrader_Canada said:
yeah I knw I have traded with Swift as well and got lucky that time to have not lost money. but have come to realize any entity offering outside US without PDT will not be regulated by SEC or other regulators. Only thing with Swift was they were banking out of Cayman so this time looking for firms specifically banking in Canada itself
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So you traded with swift and was lucky to get money back.. good, so what makes these other firms different?
so with Swift or Alkaline do you have to prove your past trading ? or as long as you have the "First Loss" money you are in? what is the deal ?

Another thing that worries is some of these Canada based firms won;t allow traders from some parts of Canada itself...Ontario I think some issue with regulators?
DTTW claims to have hundreds of offices around the world but none in major jurisdictions like UK / USA/ Singapore and they had some issues with Australian regulators !
something does not gel here
 
daytrader_Canada said:
yeah I knw I have traded with Swift as well and got lucky that time to have not lost money. but have come to realize any entity offering outside US without PDT will not be regulated by SEC or other regulators. Only thing with Swift was they were banking out of Cayman so this time looking for firms specifically banking in Canada itself
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I and a lot of others started out at Swift. Have they gone to remote? Obviously 20 or so years ago it was all in house. Their profit split was weak but the fees were ultra low, plus it was a great atmosphere at the time - almost like a club.
 
daytrader_Canada said:
Alkaline is offering 80- 85% split to me with monthly payouts. Commissions starting at $0.0045/share and then lower rates on certain volumes. I like their platform Takion but if you would know other firms with better offers would be great to connect
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WOW, that commission rate is pretty high. I think we used to pay $0.0005 or 50c per 1000 shares. Some of us were simply scalping and profiting the rebates.
 
traderjo said:
So you traded with swift and was lucky to get money back.. good, so what makes these other firms different?
so with Swift or Alkaline do you have to prove your past trading ? or as long as you have the "First Loss" money you are in? what is the deal ?

Another thing that worries is some of these Canada based firms won;t allow traders from some parts of Canada itself...Ontario I think some issue with regulators?
DTTW claims to have hundreds of offices around the world but none in major jurisdictions like UK / USA/ Singapore and they had some issues with Australian regulators !
something does not gel here
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That's what i said any firm outside the US not having PDT rule would generally be the same. the reason I am looking at firms both registered and banking in Canada is to have another line of defense which was not the case with swift but will see how this goes as m not getting any other firms with a better offer. Alkaline just asked if I have traded before as they said they don't run any trainings. didn't ask for any records just some info for background check

This Ontario think even I am confused about. So DTTW somehow does not allow Ontario residents though I didn't like their platform so didn't bother doing much research as to why that would be
 
7out said:
I and a lot of others started out at Swift. Have they gone to remote? Obviously 20 or so years ago it was all in house. Their profit split was weak but the fees were ultra low, plus it was a great atmosphere at the time - almost like a club.
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believe they have revamped as DTTW now but like mentioned above didnt like the platform so didn't enquire on splits
 
7out said:
WOW, that commission rate is pretty high. I think we used to pay $0.0005 or 50c per 1000 shares. Some of us were simply scalping and profiting the rebates.
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Aah that was pretty good back then ! they are giving $4.5 for no vol. commitment and then step down by 25-50c for every 250k in monthly vol. I scalp a lot in quantity (over million shares monthly) so probably might pay around $3/1000 on an avg
 
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