Virtual Brokers

I’d steer clear if I were you. These guys may look cheap and a great option. They’ll screw you in the end. There are some shady business practices going on.
They have fees that come out of no-​where. When I tried closing my account, I got charged $ 50 in ‘inactivity fees’ while my funds transferred back to my bank.
I then tried moving the rest of my money and closing them, but they kept leaving just a little bit in my account, always keeping it open. I would request the full amount be transferred, but they would leave in $ 29 for no reason (Clearly so they could get me with more fees).
When I told them I explicitly want all funds converted to CAD, and EFT’ed out, they keep saying that I have to submit formal requests, and go through several steps. Why? So they can charge me more on ‘inactivity’
While I was trading with them they accidentally had a technical error that nearly cost me a few thousand. It took weeks to get it corrected and they of course blamed me at first…
Steer clear. I still haven’t got them to close my accounts.

This review will be of interest mostly to US citizens. (Since you use Unilocal,you’re probably not a Canadian citizen.)
I am a US citizen. Virtual Brokers told me in November 2013 that there would be no problems with my Canadian LIRA («locked in retirement plan») when I moved back to the USA. I went to the VB Toronto office IN PERSON to check on this, because I was having a heck of a time finding a firm to hold my Canadian pension, which I couldn’t legally move to a US account when I left my job there.
Acting on a tip from a guy at BMO, just before I left Canada in late December 2013 I called VB back up to make sure:
Me: «I am a US citizen. When I leave Canada to become a US resident, will my account be frozen?»
VB: «There will be no problems. You will be able to trade on your account.»
Me: «In exactly which US states are you licensed?»
VB: «Please hold while I check on that» (long pause)
VB: «Actually, when you leave Canada your account will be frozen».
So after more than a month I was back to square zero.
The mess didn’t get resolved for another year, after which I had to fly back to Canada from Hawaii to deal with the problem. During that year my money was trapped and frozen in BMO in a non-​interest bearing account. (I transferred the VB account to BMO account just before getting on the plane to the USA. A few weeks later the BMO verification department called me and asked if I was still a Canadian resident, and they demanded I bring more ID in person to a branch in Canada.)
The congress revised the FATCA, and the money ended up finally in TD Waterhouse, which will hold accounts for US citizens resident to most (but _​not_​all) US states.
Now that the FATCA has been revised, I do not know what currently happens to VB accounts held by US citizens resident in US states, but it’s not easy to find out because VB can’t get its story straight.
If you’re a US citizen trying to open a Canadian account then I recommend you be very careful. Always insist on giving all possible forms of ID (including OHIP, and insist that they photocopy it) to make it impossible for a Canadian bank to demand you bring more ID in person after you move away.