
Best Forex Brokers in Malaysia
Best Forex Brokers in Malaysia [wpdts-year] Forex Trading In Malaysia Forex Brokers in Malaysia, one…
Best Forex Brokers in Canada Forex Trading In Canada Forex trading has seen a significant increase…
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 world’s top currencies. This is because Canada’s economy 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.
Forex trading offers high levels of accessibility and convenience for Canadian traders. The forex market operates globally, allowing traders to engage in trading activities at any time of the day. Online trading platforms and mobile applications provide easy access to the market, allowing traders to execute trades from anywhere with an internet connection.
Forex trading provides Canadian traders with access to a vast range of global market opportunities. With the ability to trade currency pairs from major economies around the world, traders can take advantage of economic events and news from various countries. This global exposure enhances diversification and potential profit opportunities.
One of the key advantages of forex trading is the availability of leverage. Leverage allows traders to control larger positions with a smaller amount of capital. However, it is important to note that leverage amplifies both profits and losses, and traders should exercise caution and implement risk management strategies when utilizing leverage.
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 residents of Canada.
However, it is advised to choose a regulated broker with a Tier 1 license like Cysec, FCA, FSCA, or ASIC to make sure your funds are protected.