Quote from MBT-Steve:
lars,
Its because they have registered in Canada as a broker/dealer.
Regards,
Steve
It's more comlex than that.
The big problem is likely the Ontario Securities Commission.
Most of the US direct access or prop brokers...
Have "business models" that push the envelope in terms of securities regulations...
And will not fly in Ontario.
After many years... IB backdoored into Canada via Quebec...
Bright is only registered in British Columbia.
My understanding is that Bright has been trying for years to get approval in Ontario...
But, probably, the restrictions the OSC would apply to their business model...
Has made it a non-starter.
Also...
Since the OSC threw Southwest Securities out of Canada in 2002 or so...
It's been ** clearly illegal ** for any US firm to take on Ontario customers...
Without full Canadian registration.
Prior to 2002 it was a gray area.
