de | cn | ru
Forex

Canadian forex brokers

One of the biggest perks of trading with a Canadian forex broker is the Canadian Investor Protection Fund (CIPF), which insures every trader's account for up to $1 million against suffering losses due to an insolvent broker. See a list of all CIPF members here. Furthermore, all brokers in the country must be registered with the Investment Industry Regulatory Organization of Canada (IIROC).

 

Depending on the province, where they are registered, brokers in Canada may need to comply with different regulations – Quebec and Ontario, for example, impose additional requrements on forex and CFD brokers (nothing too harsh, though). Unlike the United States, Canada does not ban hedging, there is no FIFO (firs-in-first-out) rule for closing positions, and leverage is not restricted. 

 

Despite being a vast country, Canada is not particularly popular destination for forex brokers; one of the reasons for this is that Canadian citizens are not mandated to trade with nationally-licensed brokers only and can trade with pretty much any brokerage from any country. 

 

Nonetheless, major brokers like FXCM and Forex.com have chosen to set up offices there so that they can cater to the needs of their Canadian clients better. 

 

* InvestTechFX and Fx Clearing claim to be Canadian forex brokers, but they are not CIPF members.



Forex

Canadian forex brokers

Broker Regulated Min.deposit Leverage Spread Promotion Review
$1 1:50 0.9 N/A Review
$50 1:200 (1:50 in US) 1.1 Review
$10 000 1:50 1 Review
$1000 1:33 2 Review
Forex

Related News

Nova Scotia’s regulator warns of binary options broker AshfordInvestments

Oct 04 2017 08:22:47 Jonathan Smith in Market

The Nova Scotia Securities Commission has issued a warning that the binary options broker AshfordInvestments is not authorized to sell securities in the Canadian province. According to the regulator, however, at least one Nova Scotia investor has lost money with this company. Read more

Canada explicitly bans binary options

Sep 28 2017 12:50:45 Jonathan Smith in Market

The Canadian Securities Administrators (CSA) – the body unifying all regional financial markets and services regulators – has announced the implementation of Multilateral Instrument 91-102 Prohibition of Binary Options. Read more

Canada's BCSC warns of binary options broker 332option

Sep 08 2017 08:54:32 Jonathan Smith in Market

 Canada's provincial regulator, the British Columbia Securities Commission (BCSC) has added the binary options broker 332option to its warning list.   According to the BCSC, the owning company Blueport Investment Services Ltd. Read more

Canada's MSC warns of GTOptions

Jul 25 2017 07:24:48 Jonathan Smith in Market

Canada's provincial regulator, the Manitoba Securities Commission (MSC) has issued a warning against the binary options broker GTOptions.   According to the publication, “GTOptions, www.gtoptions.com, and MJ Vents Ltd. Read more

Canada's BCSC warns of Chinese forex broker Omega Mutual Group

Jul 19 2017 07:18:16 Jonathan Smith in Market

Canada's provincial regulator, the British Columbia Securities Commission (BCSC) has issued a warning against the Chinese forex broker Omega Mutual Group. Read more

Forex
de | cn | ru