Live forex trading in Canada is governed by the Canadian Securities Administrators (CSA). The activities of Canada forex brokers were minimally regulated till 2009
09 August 2021 07:10 PM
Live forex trading in Canada is governed by the Canadian Securities Administrators (CSA). The activities of Canada forex brokers were minimally regulated till 2009, after which a new framework was implemented for derivatives regulation, which also covered the operations of Canadian forex brokers. Each state in Canada has its own regulatory body, although the CSA is the principal regulatory agency responsible for its financial oversight.
Canada Forex: Role of Canadian Foreign Exchange Committee
Founded in 1989, the Canadian Foreign Exchange Committee (CFEC), is actively involved in overseeing Canada fx trade and the prices of the loonie. The principal objective of the CFEC is to create a forum for regular discussion about issues and developments pertaining to Canadian foreign exchange. This includes reviewing market procedures and practices by the CFEC’s expert panel, which comprises:
Senior officers from different financial institutions with major stakes in Canada fx trade globally
Representatives from the Department of Finance and the Bank of Canada
The President of Financial Markets Association of Canada (FMAC)
Chairperson of the Canadian Committee for Professionalism (CCFP)
Additionally, the CFEC is responsible, through the CCFP, for promoting high standards of ethical conduct and professionalism in the Canada forex market.
Canada Forex: Top Real Time Forex Brokers
If you seek to trade in Canada forex, finding the “right” forex broker is the starting point. This can be a daunting task, considering the many Canada forex brokers operating in the market. However, if you do not have or wish to invest too much time in searching for live forex trading platforms, consider the following popular options:
Alpari: This uses the MetaTrader 4 platform for executing live forex trading deals. This platform is one of the most popular in the world due to its stability and reliability. The MetaTrader 4 enjoys a diverse range of functionalities, such as custom indicators, technical analysis, and professional charting tools.
AvaFx: A leading name in live forex trading, AvaFx is renowned for its easy-to-use interface, and the option to setup and practice on a demo account, before executing real Canada forex transactions.
Plus500: The broker platform offers wide-ranging high quality services, such as bonuses on registration. Traders can execute forex deals through the platform with as little as a $50 deposit.
Most importantly, bear in mind that choosing the “right” broker depends on several factors, such as the size of your funds, the amount of service’s needs, and your present level of expertise in live forex trading.