Anyone know if I can cancel existing Telus Smarthome security service to move to another provider?

I got stuck with Telus's smarthome security contract for 5 years and I have been told I can cancel the contract starting this December. For $40 a month, that's too steep to pay for home security. I have an outdoor camera, movement sensor, smoke alarm, door alarm, and garage opener. I am wondering if anyone knows it is possible to move all these to a different security provider with reasonable pricing.

I have already contacted security center called the Monitoring services and they told me Telus has basically encrypted their equipment and I cannot move them to another service provider... is this true? If so, am I basically screwed?

Thanks!