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The Investment Industry Regulatory Organization of Canada (IIROC) is a self-regulatory organization that oversees all forex brokers (officially referred to as investment dealers) and trading activity on debt and equity markets in the country. The financial regulator was established June 2008 through the merger of the Investment Dealers Association of Canada (IDA) and Market Regulation Services Inc.
All Canadian forex brokers have to be registered with the IIROC. However, Canadian citizens are not obliged to trade with nationally-licensed brokers and, unlike US ones, are able to do that with nearly any brokerage of their choosing. This, along with the high capital adequacy requirements, is probably the reason why Canada is not particularly popular destination for forex brokers.
Nonetheless, IIROC sets high-quality regulatory and investment industry standards for protecting investors and strengthening market integrity while maintaining efficient and competitive capital markets. Unlike the situation in the United States, Canada has not banned hedging, nor has imposed any restrictions on leverage.
What is probably the biggest advantage of trading with a Canadian forex broker is that all of them are members of the Canadian Investor Protection Fund (CIPF). The latter insures all client accounts for up to $1 million against suffering losses due a broker insolvency.
Interestingly, brokers in Canada may need to comply with different regulations, depending on the province, where they are registered. For example, Quebec and Ontario, for example, impose additional requirements on forex and CFD brokers.
Canadian brokers news
The Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Securities Administrators (CSA) are considering new rules for the crypto trading
Canadian provincial financial regulator British Columbia Securities Commission (BCSC) issued a warning on Monday regarding the unauthorized operation of forex and contracts
Canada’s provincial regulator, the British Columbia Securities Commission (BCSC) has warned that three binary options brokers: Option Financial Markets, IvoryOption and Trades
Canada’s regional financial regulator, the British Columbia Securities Commission (BCSC) has warned that the AlfaTrade forex broker is not registered to trade
Canadian financial regulator British Columbia Securities Commission (BCSC) has issued a warning against online binary options platform Binex Markets and advisory firms
Canada’s financial regulator British Columbia Securities Commission (BCSC) expanded over the weekend its Investment Caution List of companies unauthorized to operate in
The British Columbia Securities Commission (BCSC) published on Thursday a warning noitce against unauthorized forex broker Smart FX Online (SFO). The broker
The Ontario Securities Commission (OSC) has included forex broker Prosper Trade FX to its warning list of companies that are not authorized
The Ontario Securities Commission (OSC) included on Friday two binary options brokers – Redtulips Consultants and DSMG, to its warning list with