Forex trading has seen a significant increase in popularity across Canada over the past few years. The Canadian Dollar (CAD), also called the loonie, is one of the worlds top currencies. This is because Canada’s economy it is one of the most developed economies in the world. E-commerce and online business in general are booming in the country as the infrastructure allows fast growth. As a result, forex trading is both accessible and understandable to traders at all skill levels, professional or newbies.
Forex trading is legal in Canada, but is considered highly regulated. Local residents are advised to trade with a broker who is authorized and regulated by the Investment Industry Regulatory Organization of Canada (IIROC) – https://www.iiroc.ca/
If you want to learn more about forex trading and how it works , click here to visit our Beginners Guide to Forex.
Featured Forex Brokers
Forex Regulation in Canada
The Investment Industry Regulatory Organization of Canada (IIROC) is the regulatory body for all financial services and activities in Canada. IIROC is a national self-regulatory organization that was first established as a non-profit corporation back in 2008. This organization is part of the consolidation of the Investment Dealers Association of Canada (IDA) and the Maket Regulation Services Inc. (RS). Therefore, IIROC is respectfully recognized by the Canadian Securities Administrators (CSA) which includes all Canadian provinces and regulatory bodies. Nevertheless, it is not required to get authorization from the IIROC in order to offer financial services and forex trading to the residences of Canada.
Best Forex Brokers In Canada
Here is a breakdown of the best forex brokers to trade with in Canada:
Broker Comparison List In Canada
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. We analyze more than 3000 data points across 8 key focus areas.
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