Forex.com canada leverage

Forex Brokers in Canada

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LegacyFX is an established and trusted broker, providing a wide range of products and services for traders worldwide since This is an important feature when looking for the best Forex broker for your trading. LegacyFX charges no swaps on long-term positions, providing ideal conditions for long term trading and investment.

This is a unique advantage which could make LegacyFX the best Forex broker choice for you depending on your style of trading. MetaTrader is the most widely used Forex trading platform software in the world with strong and stable features.

MetaTrader 5 can be used as a desktop application, a web terminal, and on mobile platforms. This insight into the number of orders and different price levels can take your trading to a whole new level. LegacyFX is best if you are starting with a small account, and if you want high leverage.

It is also best for traders wanting to make use of Depth of Market and volume data. Australian regulators are much more relaxed about leverage than their counterparts in the U. For most traders, the standout unique selling point of this broker lies in the incredibly wide range of tradable assets offered, providing an opportunity to trade over ten thousand individual stocks and shares. These go beyond the typical U. Also, over 60 Forex pairs and crosses, 11 equity indices, the major commodities, and 5 cryptocurrencies including Bitcoin are also on the menu here.

Traders can scalp and hedge at this broker, whose fast ECN execution speed makes it a natural home for scalpers.

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Clients may choose between the MetaTrader 4 and MetaTrader 5 platforms, and shares can be traded through the IRESS trading platform which includes access to level 2 exchange data. Friedberg Direct was founded in and has since become one of the largest independent brokers in Canada. Friedberg Direct also provides its customers with two other additional Forex trading platforms: WebTrader which does not require any downloads and AvaTradeGO. Friedberg Direct is a great broker for automated trading platforms where you can mirror or copy the trades of other often more experienced traders.

For more advanced traders, it offers a great way to not have to sit and watch your screen all day long. FXCC also developed its price aggregator to ensure clients have access to the best prices available. This allows for the management of multiple accounts from one interface and supports asset managers. Forex trading remains at the core of FXCC, with 71 currency pairs representing the bulk of assets. Twelve cryptocurrency pairs, seven commodities, and twelve index CFDs complete the selection.

The transparent trading environment is another benefit, and FXCC maintains subsidiaries operating out of Vanuatu and Cyprus. FXCC also provides an introductory educational section and daily technical analysis on three currency pairs. With no minimum deposit, FXCC remains accessible to all types of traders. The maximum leverage is , ensuring clients have access to a competitive trading environment. This is great news because IIROC has some of the best rules anywhere in the world making Canadian Forex brokers amongst the safest in the world.

If you are looking for the best Forex broker for your trading, Canadian Forex brokers are a great please to start looking. Canada is uniquely divided into multiple jurisdictions along the lines of their provinces and territories.

Each province has its own regulatory body that can provide additional rules over and above IIROC requirements. For example, residents in the province of Alberta have to meet additional conditions, such as their net worth and level of trading experience, before being permitted to open a Forex trading account. Fortunately, many of the local layers of regulation have been recently harmonized, making it more consistent nationally. Canada is one of the very few developed nations in the world that allow its citizens to invest their money with overseas Forex brokers that are not regulated in Canada.

The best Forex brokers in Canada will have this level of coverage. The maximum leverage which may be offered to any retail client by an IIROC regulated Canadian Forex broker is 50 to 1, which is a relatively generous limit for a Western OECD nation: in comparison, in the European Union, the maximum leverage is 30 to 1. Unless you are trading a very small account, 50 to 1 is enough leverage to enable profitable trading but still control risk so you do not lose your entire online Forex trading account overnight. You can do that by scrolling down to the bottom of the homepage of the Forex broker to see their regulatory information.

For example, there are different leverage and margin rules between Forex brokers in Canada versus the US. Also, many Forex brokers in the US will not accept accounts from Canadian residents. If you are looking for a broker that offers the best currency trading platform in Canada for your trading needs, all the trading platforms offered globally are available from Forex brokers in Canada. The biggest advantage of picking Forex brokers in Canada is the strong regulations they must follow that ultimately protects customers.

When you look at Forex Canada, it has amongst the best investor protection in the world. There are no minimum deposit requirements for Forex trading in Canada.

It will depend on the broker, the type of trading account you want to open, for example, a mini account or a standard account, and the currency trading platform you want to use. Naturally, you want the best Forex broker for your online trading.

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This means finding a broker that has the best forex trading platform in Canada and the best additional software to ultimately give you the best chance of success. These allow your trade sizes to be as little as one micro lot. Canada may not be famous as a country of origin for the biggest Forex brokers, but, nevertheless, it is a chosen location for offices of some foreign exchange companies. Strict regulatory environment makes Canada an attractive jurisdiction to brokers that value safety of funds and reduced risks for traders.

Best Forex Brokers In Canada

Canadian Forex brokers are open to residents of almost every country in the world. You will find 9 brokers listed in the table below. When you are to choose a broker by its location or jurisdiction of its regulation, these reasons may turn your attention towards a Canadian one:. What Is Forex?

Canada Forex Legislation

The country comprises ten provinces along with three territories. It boasts a stable and mature foreign exchange market. Forex trading is well-regulated in the Great White North although some brokerages consider the regulatory framework in the country unfavorable. This is the primary reason why there is a small number of domestic brokers in Canada.

There is no universal foreign exchange trading legislation across the country. The Forex market is additionally overseen on a federal level, which creates a challenge from the perspective of brokerages. There are as many as fifteen different regulatory authorities in the country, two federal ones along with thirteen provincial ones. The Forex markets are regulated either as derivatives or as securities.

Canada-friendly brokerages must have a physical presence in the country to offer their services to locals.

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Licensed brokerages are permitted to sell contracts for difference CFDs to Canadian customers but they are expected to prominently display the risks associated with this financial instrument on their websites. The brokers must also carefully evaluate the levels of knowledge and experience of each customer to determine whether they are competent enough to trade with volatile CFDs.

Canadian regulators have also set rules regarding the maximum leverage Canada-friendly brokerages can offer to customers from the country. The ceiling on leverage for retail clients ranges between and The exact ratio differs depending on what currency pairs one trades with.

Hedging is not an option for Canadian customers.

Best Forex Brokers Canada Comparison

This practice is considered illegal here. With that in mind, leverage is higher for major currencies and lower for minor and exotic pairs due to their increased volatility. The CIPF is a non-profit program launched by the regulators across all provinces and territories of the country. It should be mentioned that this policy protects you only in case your broker files for bankruptcy. This compensation is not applicable if clients lose their funds through trading or because of fraud.

To ensure your chosen broker is a member of the scheme, you can directly call the CIPF or talk to your investment advisor. Speaking of fraud, scams are uncommon at reliable Canada-friendly trading websites because brokerages that violate the regulatory framework risk heavy penalization and license revocation.

While this may not sound like a great comfort for the affected parties, such penalizations aim at preventing brokerages from cheating their customers in the first place. Lastly, each prospective customer is expected to meet the minimum-income, net worth, and assets thresholds as stipulated by their provincial regulatory body.

This makes it difficult for some clients to enter the Forex markets because they do not have sufficient capital. As previously mentioned, there are a total of fifteen regulatory bodies to oversee Forex trading activities in Canada. It controls the brokers and all trading activities on the equity and derivatives markets across the country. As the main watchdog, the IIROC has the right to fine brokers or suspend their licenses if they violate its regulatory framework. The regulator conducts adequate oversight to ensure all Canada-friendly brokerages operate in full compliance with its framework and high standards.

Other than that, each province has its own regulator. In British Colombia, Forex trading contracts are regulated as securities and fall under the jurisdiction of the British Colombia Security Commission. Canada-friendly brokerages provide their customers with various trading instruments including foreign exchange trading, indices, stocks, commodities, cryptocurrencies, and exchange-traded funds ETFs.

However, before you can start trading for real money, you will have to fund your live account. Each brokerage has its own recommendations as to the minimum starting capital customers need to begin their trading experience.

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