Due to changes in Canadian regulations, GFT can no longer accept trading accounts for customers residing in Canada. However, they are still able to open accounts for Accredited Investors.

Back in September, FXCM announced their withdrawal from British Columbia too:

FXCM Withdraws of British Columbia (Canada)

This the note Canadian clients received from GFT a few days ago

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Dear XX-,

We regret to inform you that we are no longer able to do business with customers in Canada because regulations have changed. Based upon Canadian regulations, GFT cannot accept trading accounts for customers residing in Canada.

Alternatively, GFT does business in many other countries. If you have an alternate place of residence or business in a country outside of Canada, you may be able to maintain an account with us from that address. Please call us at +1 (616) 956-9273, email new.accounts@gftforex.com or click the live text chat link below so that a GFT representative can discuss this option with you further.

Account-closing Procedures:

As of today, November 23, 2009, all accounts without open positions will be prevented from entering any new positions. If you have an open position, you will be placed in a “liquidation-only status” that will prevent you from entering into a new position. It is your responsibility to close out of open positions.

Please let us know where would you like us to remit your account balance by filling out the attached funds request form and faxing it to +1(616) 942-4050. You may also conveniently submit an online funds request here: https://www.gftforex.com/support/funds-request.asp.

Please note: You must be closed out of all open positions prior to your funds being released from GFT.

We apologize for any inconvenience, and look forward to servicing you should these regulations change in the future.

XX
Compliance Specialist – Account Services
Email: XX
Or call (616) 956-9273
CD05U.448.112009
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Francesc