Top Canadian Forex Brokers
Being distinguished by their main residence and situations, the various Forex brokers might be easily determined by their nationality. According to this criterion, trading platforms are mainly intriguing and reliable, when they are based in some of the following countries or regions: UK, Canada, USA and probably Cyprus. These Forex brokers seem to be the top searched in the web and despite there are also many other different European and even Asian websites, traders tend to make registrations in the most famous and trustworthy platforms. Today, we focus on Forex brokers Canada specifically, because they definitely have lots to offer and you should not miss to get to know them. Find out what benefits the Forex brokers in Canada offer now and consider if these websites might respond to your personal requirements and interests as to financial trading.
Forex Brokers Canada And Restrictions For Canadian Citizens
It is an interesting and in the same time well-known fact that some particular traders might find difficulties to find a decent broker to register and trade in. This might sound odd to some of you – especially when having in mind that trading websites are so many and the choice should not be that difficult. However, USA and Canadian customers are those to have the restrictions we are talking about. These restrictions are due to the national laws in the countries. Canadian laws as to financial trading, as well as gambling in general, might limit your choice. For instance, many traditional platforms – mostly those that are based in European territory – announce it directly on their home page that Canadian citizens are not allowed. So what Canadians can do then? Are they entirely restricted from the Forex market? Of course, no! Canadians traders are allowed to trade, but at particular Forex brokers Canada – e.g. websites for financial trading that are located and regulated by Canadian authorities or independent controlling agencies. But let`s discus these things in details, because they seem to form any Canadian trader`s choice for opening an account in a certain broker based in Canada.
How Well Forex Brokers Canada Are Regulated?
Canada is famous for its high level of security, when it comes to make any kind of financial transactions in the web in general. Meanwhile, this country is very precise as to the personal data safety. All of these lead to the conclusion that Forex brokers Canada are actually the top regulated websites. See which agencies are in charge for this:
Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada – or simply the FTRACC – is the official regulatory agency for Forex brokers Canada. The main responsibilities this agency has are to collect and analyze facts and problems as the Canadian market, as well as to prevent money laundering, to provide and deprive the Canadian Forex brokers with licenses and etc. While it is working, reacting to the different requirements and signals, the Financial Transactions and Reports Analysis Centre of Canada is allowed to react as to all the suspicious transactions, suspected terrorist property, large cash transactions, electronic funds transfers and etc.
Ontario Securities Commission
Ontario Securities Commission – known by the abbreviation OSC – is not a government, but an independent Forex regulator agency, which covers Ontario legislation territory. The official FTRACC has approved the appearance, as well as the work of the Ontario Securities Commission as an ordinary, but only additional regulator to the Canadian Forex brokers. The Ontario Securities Commission administers and enforces securities law in the province of Ontario. The mandate of the OSC is to provide protection to investors from unfair, improper and fraudulent practices, as well as to foster fair and efficient capital markets and confidence in capital markets.
British Columbia Securities Commission
And finally, British Columbia Securities Commission – or shortly BCSC – is an independent regulator for the Forex trading Canada experience, too. Currently, this commission has 10 commissioners, who are in charge to protect the personal data, the finances and the brokers from different cases of scams or frauds. This controlling agency is entirely self-funded, which makes it very popular among the traders, who prefer to enforce their signals to more independent regulation agencies.
Do not miss to test the Forex brokers in Canada. They are reliable and safe, so you can be 100% sure that your money and your personal data are indeed at a safe place!