Canadian Dollar

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Corporate Governance

The Canadian Forex market is one of the most heavily regulated Forex markets in the world. This gives added security to individual investors and small businesses in an often turbulent market. What follows are a few key regulations which Canadian Forex brokers must adhere to:. It is clear from the above mentioned rules that Canada has quite strict regulatory procedures.

For example the maximum available leverage which varies from currency to currency is higher for major currencies and lower for more exotic or minor currencies. It is also lower than what the US regulatory bodies specify as the maximum possible leverage. As with all regulated markets the Canadian Forex market also deems hedging in the same customer account as illegal even though Forex traders often try to find ways around it.

Finally, because of the quite high minimum income, assets and net worth requirements, a lot of Canadian Forex traders are finding it difficult to enter the market. In short, this means that if you are have enough capital to enter the market you will participate in the safest Forex market in the world. There are NO Forex Brokers who hold a valid license to operate in the country. We will notify you if the situation changes.

Which Canadian Forex brokers can trade with Canadian citizens? How can I check if a Forex broker works legitimately? The IIROC on its website offers a chance for future traders to gain information about the background, qualifications and disciplinary information of Canadian Forex brokers. How do Canadian based brokers differ from Forex brokers based in other countries when it comes to financial regulations?

As we already said the Canadian market is very strictly regulated. When you compare it to other markets around the world such as the US or UK Forex market you see that the security it offers against scams and frauds is not paralleled. Can Canadian citizens do business with a US Forex broker? For a US Forex broker to be able to conduct business with a Canadian citizen there must be two criteria which are met. First the broker must have a physical presence in Canada and second it has to be registered as a broker with securities in Canada.

What are the payment options that Canadian Forex brokers offer to customers? Can I be led into a fraudulent transaction with a regulated Canadian broker? Canadian Forex brokers are so heavily regulated that it is nearly impossible to be involved in any sort of fraud or scam. If there is a situation in which a regulated Canadian Forex broker leads you into a scam through misinformation or some other means of misleading the trader then that broker will be heavily penalized, stripped off his license and put on the wall of shame.

Download our historical CERI data. These rates were last updated in January , and will not be updated in future. Outlines the factors that influence the exchange rate and explains the role of the exchange rate in monetary policy.

Describes the selection criteria, calculation methodology and publishing process for the new exchange rates, effective 1 March Toggle navigation FR Toggle Search. Careers Take a central role at the Bank of Canada. Target for the Overnight Rate. Unclaimed Balances Find unclaimed balances to which you may be entitled.

Toward Reviewing the Monetary Policy Framework. Upcoming changes to legal tender status for older bank notes Find out what removing legal tender status means and which bank notes are affected. The Economy, Plain and Simple Explaining economic issues that matter to you. Digital Currencies and Fintech Understanding digital currencies and related financial technologies is an important part of our research agenda.

Browse Press Browse and filter Bank of Canada press content by topic, author, location and content type. Home Statistics Exchange Rates. Terms and Conditions All Bank of Canada exchange rates are indicative rates only, obtained from averages of aggregated price quotes from financial institutions. Daily Exchange Rates View the daily average exchange rates for 26 currencies. Monthly Exchange Rates View the monthly average exchange rates for 26 currencies. Annual Exchange Rates View the annual average exchange rates for 26 currencies.

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