Many brokers flat out refuse to do business with traders in Alberta. So, I thought I would write this article to help all your Albertans find a Forex broker. Forex Brokers For People in Alberta Canada If you want to trade Forex in Alberta, your options are limited… …But you can trade.

FXCM Canada link Interactive Brokers link CMC Market link Forex. com link Questrade link All of these brokers are regulated in Canada by the Investment Industry Regulatory Organization of Canada IIROC which means they should be trustworthy.

Other Brokers for People in Alberta? Secondly, the best Forex brokers in Canada will have multiple Forex trading platforms available to its traders so you can choose the trading platform that suits your style of trading. Thirdly, you want to make sure that you can open an account type that has the leverage and margin you need. How to trade Forex in Canada?

You can trade Forex in Canada the same way as in the rest of the world. For example, if you want to make sure you have the best Forex trading platform, you will find that the best currency trading platform in Canada will be as good as anywhere else in the world. Once you have chosen the best Forex broker to meet your needs, you can choose the best Forex trading platform and the account type that is suitable for your trading. Is trading Forex legal in Canada?

Trading Forex is perfectly legal in Canada. However, all Forex brokers operating in Canada are subject to tight and sometimes complex regulation, and individual Canadian provinces have their own specific laws and regulations governing Forex trading.

Is day trading illegal in Canada? Day trading is legal in Canada, but you may encounter regulatory difficulties if you day trade through a TFSA account. Forex Trading in Canada What Are The Canadian Different Types Of Trading Accounts? Trading Platforms and Software FAQs. Home Forex Brokers Types Best Forex Broker 5 Best Forex Brokers in Canada [month] 5 Best Canadian Forex Brokers in [year].

Affiliate Disclosure. Affiliate Disclosure DailyForex. com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing.

Huzefa Hamid. Updated on July 04, Get Started. The ratings shown on DailyForex. Read more on FP Markets. Read more on Eightcap. Read more on BlackBull Markets. Read more on IFC Markets. Read more on FXTM. How we rank our brokers. FP Markets. ECN trading with leverage up to Pros Choice of trading platforms and auxiliary trading tools Very competitive cost structure and excellent asset selection Low minimum deposit requirement and leverage of up to Well-regulated and trustworthy.

Cons Availability of Iress geographically restricted. Pros Low minimum deposit and high leverage of up to Competitive cost structure Excellent technology infrastructure and seasoned management team Daily research and quality educational content.

Cons Limited leverage in some areas. BlackBull Markets. Best ECN trading environment, with scalping and hedging. BlackBull Markets has been serving Canadian traders since it was founded in in New Zealand.

Cons Limited deposit options. IFC Markets. IFC Markets is one of the longest running brokerage firms in Canada, and has been operating since Pros Excellent regulatory track record and secure trading environment Outstanding asset selection and patented PQM asset generation technology Extremely competitive commission-free trading cost structure Valuable research and educational section, low minimum deposit, and high leverage.

Cons No direct support for social trading. Best all-around broker with high floating leverage and fast execution. We have made FXTM one of our top-rated brokers because in addition to its lengthy track record, it enjoys a very high level of regulation and reputation, and it offers a highly competitive fee structure which tends to keep down the cost of trading.

Cons Limited choice of cryptocurrencies and commodities. Take advantage of today's market opportunities. The ASC deems currency trading as high risk investing.

It is well know that many FOREX scams exist. The risk is always magnified with higher leverage. Author: Mark Prosz. We may receive a commission with no charge to you. This enables us to keep creating helpful forex trading content for our readers for free. Related Articles: High leverage Forex brokers in Canada Best Forex brokers for Canadians.

Best Forex Broker for Alberta. As of , these are the only trustworthy FX brokers accepting Albertans: FXChoice LMFX AvaTrade. Forex Broker List For Alberta. Broker Type Market Maker Regulations ASIC, B. Forex trading Alberta regulations.

With a population of over 37 million people, Canada has a thriving Forex scene. The country also has one of the best sets of regulations to protect traders from poor practices by disreputable Forex brokers. Get Started Read more on FP Markets 1 The ratings shown on DailyForex. ECN-style trading Daily market research and Autochartist access Get Started Read more on FP Markets Get Started Read more on Eightcap 2 The ratings shown on DailyForex.

Solid broker for scalping and hedging Institutional-style trading opportunities for retail traders Get Started Read more on BlackBull Markets Get Started Read more on IFC Markets 4 The ratings shown on DailyForex. BlackBull Markets , Best ECN trading environment, with scalping and hedging. FXTM , Best all-around broker with high floating leverage and fast execution.

FP Markets 5. Get Started Get Started In Summary ECN trading with leverage up to This allows FPMarkets to offer their clients leverage as high as FPMarkets is considered to be one of the best forex and CFD brokers in the world today, and they tend to stand out from the crowd thanks to their very diverse range of tradeable assets.

Pros Choice of trading platforms and auxiliary trading tools Very competitive cost structure and excellent asset selection Low minimum deposit requirement and leverage of up to Well-regulated and trustworthy Cons Availability of Iress geographically restricted READ FULL FP Markets REVIEW READ FULL FP Markets REVIEW Eightcap 5. Like many antipodean Forex brokers, BlackBull Markets is an ECN broker, offering raw spreads and commissions.

They are regulated in New Zealand by the Financial Services Providers Register FSPR and offer a maximum leverage on some Forex currency pairs as high as to 1. BlackBull Markets is a cosmopolitan broker, with additional branch offices in New York and Malaysia, a factor many Canadians appreciate. BlackBull Markets offers a relatively tight range of tradable assets: 27 Forex currency pairs and crosses, gold, silver, crude oil, natural gas, and 6 major equity indices.

That should be sufficient for Canadian traders with more focused strategies not requiring wide diversification. In that time, IFC Markets has managed to attract over , clients from over 80 countries around the globe. IFC Markets has earned a reputation of reliability and trust, thanks to multiple licenses from top regulators including the Cyprus Securities and Exchange Commission CySEC , the Malaysia Labuan Offshore Financial Services Authority LOFSA , and the British Virgin Islands Financial Services Commission BVI FSE.

IFC Markets features a fantastic range of assets, including more than liquid assets spanning six categories. Pros Excellent regulatory track record and secure trading environment Outstanding asset selection and patented PQM asset generation technology Extremely competitive commission-free trading cost structure Valuable research and educational section, low minimum deposit, and high leverage Cons No direct support for social trading READ FULL IFC Markets REVIEW READ FULL IFC Markets REVIEW FXTM 4.

Choose a Forex broker in Canada that also gives you the best Forex trading platform in Canada for your needs. Find a Forex broker with good execution speeds to make certain you get the best prices when executing your trades. When trying to find the best Forex broker in Canada, you want to make sure they have great support. For example, can they be contacted by phone as well as email? The best Forex brokers in Canada will have tight spreads and will sometimes allow you to choose between floating and fixed spreads to meet your needs.

There is a great deal of choice amongst Canadian Forex brokers from account types, trading platforms, trading software, and margin requirements. Our team of analysts and experts at DailyForex have searched and found the best Forex brokers in Canada so you do not have to do the hard work.

Advertisement Take advantage of today's market opportunities START TRADING NOW Forex Regulation in Canada - What do Canadian Forex Regulators Do? 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. If you want the full protection of IIROC regulation as a trader, it is up to you to choose a Forex broker that is regulated by IIROC.

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.

How to Verify IIROC Regulation It is easy to verify which Forex brokers in Canada are covered by IIROC. You can do that by scrolling down to the bottom of the homepage of the Forex broker to see their regulatory information. Different rules apply to Forex brokers in Canada compared to Forex brokers in the US. 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. For example, MetaTrader 4 and MetaTrader 5 are a standard for many Forex Brokers in Canada. Forex Trading in Canada The Advantages of Choosing 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. Minimum Deposit Required for Trading with Canadian Forex Brokers 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.

Choosing a Forex Broker as a Canadian Trader Naturally, you want the best Forex broker for your online trading. 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.

What Are The Canadian Different Types Of Trading Accounts? Micro Accounts These allow your trade sizes to be as little as one micro lot. A micro lot is 1, units of a base currency, or a hundredth the size of a standard lot. One pip of a currency pair based in U. Mini Accounts Mini accounts allow you to place trades at one mini lot or greater. A mini lot is one-tenth the size of a standard, or 10, units of a base currency. Standard Accounts These typically have a minimum trade size of one standard lot.

A standard lot is the equivalent of , units of the base currency. Islamic Accounts Forex typically involves interest paid or received when holding positions for longer than a day. This is incompatible with Islamic finance principles, so Islamic Forex accounts were created to meet this gap in the market. These types of accounts replace the variable interest charge with a fixed charge for overnight positions or no charge at all thereby making currency trading compatible with Islamic finance principles.

Minimum Deposits for Different Account Types When you are deciding what type of account you want, the biggest factor will often be the amount of money you have available to deposit with your Forex broker in Canada. Micro accounts and mini accounts will normally require a smaller deposit than a standard account. Different account types come with different trading costs Remember, some brokers will have different spreads and different commission levels for different account types.

Also, some forms of execution, such as ECN execution can only be delivered with minimum account sizes. ECN execution is where the broker passes your trade directly to the underlying liquidity pool and does not trade against their clients.

Trading Platforms and Software When you are choosing the best Forex trading platform in Canada for your trading needs, the trading platform plus any associated or add-on software should be compatible with the account type you want for your trading. As a general rule, trading platforms and software should not be a top reason for choosing a particular broker.

There are usually more important issues. Canadian Forex brokers tend to be quite varied in their respective platform offerings. Although MetaTrader 4 and MetaTrader 5 are offered by most Canadian online brokers, most of them also offer their own proprietary platforms which vary considerably.

One of the top Canadian brokers, LegacyFX , offers no choice of trading platform, requiring all clients to trade using the MetaTrader 5 platform. This could be a problem for anyone wishing to move from an existing MetaTrader 4 setup as there is not full compatibility between MetaTrader 4 and MetaTrader 5 software. Conclusion Canadian regulators are committed to the welfare of their investors and require all Forex brokers in Canada to be regulated by IIROC that protects the interests of Forex traders.

If you want the best Forex broker in Canada, make sure they are regulated by IIROC and are covered by the CIPF. The best Forex brokers in Canada will have the Forex trading platform and trading software that you need to succeed. They will provide great support by email, live chat and even over the phone. They will execute your trades efficiently and fast. Lastly, the best Forex brokers in Canada will be able to do this and still offer low spreads and commissions so your costs of trading will be small.

FAQs Is Forex trading illegal in Canada? Forex trading is perfectly legal in Canada. Currency trading in Canada is highly regulated by the Investment Industry Regulatory Organization of Canada IIROC. The best Forex brokers in Canada will be regulated by IIROC.

Do Forex brokers lose money? The best Forex brokers in Canada have segregated accounts for their clients. What is the best Forex broker for beginners?

Firstly, the best Forex brokers in Canada for beginners and advanced traders are those that are properly regulated. Secondly, the best Forex brokers in Canada will have multiple Forex trading platforms available to its traders so you can choose the trading platform that suits your style of trading.

Thirdly, you want to make sure that you can open an account type that has the leverage and margin you need.

How to trade Forex in Canada? You can trade Forex in Canada the same way as in the rest of the world. For example, if you want to make sure you have the best Forex trading platform, you will find that the best currency trading platform in Canada will be as good as anywhere else in the world.

Once you have chosen the best Forex broker to meet your needs, you can choose the best Forex trading platform and the account type that is suitable for your trading. Is trading Forex legal in Canada? Trading Forex is perfectly legal in Canada. However, all Forex brokers operating in Canada are subject to tight and sometimes complex regulation, and individual Canadian provinces have their own specific laws and regulations governing Forex trading.

How to Verify IIROC Regulation It is easy to verify which Forex brokers in Canada are covered by IIROC. This could be a problem for anyone wishing to move from an existing MetaTrader 4 setup as there is not full compatibility between MetaTrader 4 and MetaTrader 5 software. I will only add regulated brokers though! Is trading Forex legal in Canada? 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. Trading Forex is perfectly legal in Canada.

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