Forex Trading in Canada


CanadianForex are well established providers of bank beating exchange rates with a presence in numerous countries worldwide. Easy and cheap international money transfer from the Canada to USA, Europe, Australia, India, Philippines and many more countries.

You will need to change you browser's compatibility mode as per the following link. The specific transactional details of each Transaction, including the currencies to be exchanged and the amount of the transaction, will be agreed separately when you book the Transactions; they will constitute separate agreements in their own right, but will incorporate these terms and conditions.

Canada: Facts and Figures

Our online Currency Converter is a quick and easy way to see live market exchange rates at the click of a button. Exchange rates change all the time, and our live Currency Converter updates with it, making it the ideal tool to keep your eye on the market rate for any given currency.

The customer rate consists of the market rate plus a margin added by a foreign exchange provider. While the banks may have inflated margins and transfer fees, at OFX, we keep our margins modest to offer competitive customer rates, which can save you money. We accept bill payment, electronic transfers from your bank account or you can apply to set up a direct debit.

No cash, credit card, checks or bank drafts. Transfers to most countries take business days. Track your transfer online or with our mobile app. When the market reaches a rate that you find favourable , simply log into your OFX account and book the transfer with us to get the currency at a low customer rate the market rate, plus our small margin. We will send you an email confirming your customer rate, leaving you to send us the money locally via your bank.

With the ability to see changing market rates in an instant and make overseas money transfers quickly and securely, you can trust us to meet your international money transfer needs. Occasionally, third-party banks may deduct a fee from your transfer before paying your recipient. OFX uses cookies to create the most secure and effective website possible for our customers.

Read our Privacy Policy. Sorry, something is not right at the moment. Please refresh the page or try again later. Save more with our Customer Rate Sorry, bank rates not available. These firms will have already built relationships with other business partners where major trading centers are located, thereby giving you the best of both worlds — local responsiveness and expertise and experience where the action is.

Learn more about what you need to take in consideration when comparing forex brokers. Having historical ties to the British Commonwealth has its advantages, too.

The same is true for many financial professionals from the New York area, as well, so Canadians can count on a sound foundation for trading within the country. This history does not imply that all brokers are the same. There are good and bad in all markets, and your due diligence should include independent reviews and recommendations from other traders.

International commerce is a strong component of the Canadian economy, driven primarily by the export of oil and gas from the second largest known reserves in the world next to Saudi Arabia. The regulatory infrastructure is active also and has been patterned to mirror similar versions in the U. Safety and security are key selection criteria when choosing a forex broker. The first guiding step when making your decision should involve validating that the broker is in good standing with the local regulatory body if there is one and that the firm is appropriately funded and capitalized to handle the risks involved.

Until recently, there was light oversight on the activities of forex brokers. Canada corrected this in February with the implementation of a new framework for derivatives regulation, designed to cover the burgeoning activities of Canadian forex brokers. Each state has its own regulatory bodies, but the CSA is the main body of financial oversight in the nation.