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Gold/Mining/Energy : Day trading in Canada
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To: keith massey who wrote (754)10/8/1998 5:50:00 PM
From: John Hunt  Read Replies (3) of 4467
 
Keith,

I was daytrading with MB Trading until Mid-August when they temporarily cut-off their Canadian accounts while they (re)apply for registration in each Canadian province and I still have a funded account there. They are expecting approval in another 6 weeks. Apparently there was some confusion as to whether US brokers needed to register under Nafta. I suspect this is a problem with most US brokers, but they don't acknowledge it (or havn't been caught yet).

Data feed (Real Tick) was 300/mo (1-19 tickets) 100/mo (20-49 tickets) and free above 50 tickets. A trade in and out is 2 tickets.

Commissions were on a sliding scale downward from 22.95/ticket (up to 2000 shares) with some extra charges if your order was filled on Bloomberg or Instanet (fairly rare). There is no bulletin board trading.

MB Trading is a subsidiary of Terra Nova (a Nasdaq firm) and is one of the largest firms of this type. Here is their link.

mbtrading.com

It is well worth exploring this site, just to see what all Real Tick systems are like. There is also an MB Trading SI thread.

I am quite familiar with the Real Tick and order entry systems, if anyone has any questions.

John

PS - Priority Brokerage has just set up a system with PC Quote Canada that uses Real Tick and direct order entry, but their commissions are still too high, IMHO.

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