What are the margin requirements friendo?
For example OTC stocks via one Canadian broker (for example sake), the margin requirement is 100%. So while the borrow fee might be low as 0.3% so costing you $5.29 per day (1,400,000 x .46 (short sale) * 0.3% APR/365 days). Your trade cost as you say is $6.95 plus the daily interest/cost of borrowing which is negligible if you're swinging the big bucks as below.
Margin requirements would mean that you need to have either liquid assets or stocks in that account totalling the cost of the trade ie. Locking up $644K USD (assuming 1.4 mill @ .46). If the stock DOES increase (I see this as quite likely, but of course pigs may fly so who knows), then you may face increased margin requirements but that is based on firm to firm.
But anyways please do go ahead and let us all know. Someone please advise if this is inaccurate and if sir Banner here is correct. If so, can a Canadian open up an account?
GLTA. Not a fan of short selling but everyone is entitled to what they'd like to do.
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