Who is Canada's futures regulator for brokers?

Discussion in 'Retail Brokers' started by clambill, Jul 19, 2008.

  1. I read you should only have a forex account with a broker who is a member of your country's futures regulator. I have an account with Tradefreedom and I'd like to open a mini-forex account. (The minimum there is only $500.)
  2. canada's regulatory system is currently out-to-lunch

    first of all there's no national regulator, it's regulation by province
    next, asked this year the provs of ontario and bc to provide a list
    of fx brokers and neither could do so !!!!!

    fx brokers and futures brokers are 2 different entities tho more
    futures brokers are also providing fx trading but via partnerships
    with fx brokers such as fxcm and gft who also supply the fx data
    into the futures brokers platform or a standalone program

    so a usa broker may be registered for ontario but not registered
    for bc etc

    fxcm are registered for all of canada and have offices in several
    countries, think their min margin is $2-300 and believe they now
    offer micro accounts

    accounts can be opened with usa fx and futures brokers tho some
    may not want canadian accounts, as well accounts are accepted
    by the many fx brokers registered in other countries

    countries such as the uk and cyprus for eg have broker failure
    indemnity, usa ? canada's is 'opt in'

    there is in some regards greater cooperation between canada
    and other countries particularly the usa concerning regulatory
    requirements than canada has domestically between provinces
  3. Ah, thanks for the information on the brokers.

    I just read in "Getting Started in Currency Trading" that Canada's Forex regulator was Investment Canada.