A Detailed Look North Of The Border: Canada's FX Industry Explained
by
Andrew Saks McLeod
Preview to the recently released Forex Magnates Industry Report for Q2 2013: Canada is one clear example of a country full of potential and issues that require a researcher's treatment to shed light on.
The world’s second largest country by area is home to just 33.4 million people. Despite its significant under-population and often extreme weather conditions, Canada ranks as one of the best countries in which to live in terms of quality of life, earnings potential and business opportunities.
Canadians often take a long term approach to their investments and trading, with retirement as a significant focus of retail investors.
According to a survey conducted by The Gandalf Group,those with more to invest are more likely to be of retirement age but even those who are of working age consider saving for retirement to be a top goal and many have reshaped their investments in recent times to focus more on retirement.
When it comes to what they consider most when they trade, most retail investors often overlook governance, ethical, corporate citizenship issues, and foreign ownership concerns if the earnings are there. Possible gain over five years is the most important consideration for retail investors.
Financial Infrastructure
Toronto is just 550 kilometers from New York City, and has a developed financial markets infrastructure. As a result, the vast majority of Canadians who trade the markets live and operate in this city.
Toronto Stock Exchange (TSX) was established on October 25, 1861 at the Masonic Hall. Subsequently, due to Canada’s conservative approach to trading throughout its history, Canadian traders are very much focused on traditional stock trading.
Regulatory Structure
Around 2011, Canada’s regulators began to assess methods of regulating the Forex industry on a domestic basis. This is administered on a provincial level, and currently there are two regulators in Canada: The OSC and the Financial Institutions Commission (FICOM) of British Columbia.
At present, Ontario, Alberta and British Columbia are the only provinces which regulate Online Trading, all three of which have slightly different criteria. In British Columbia it is illegal to operate unless regulated by FICOM. Any forex company or representative of a forex company soliciting for business in British Columbia without FICOM regulations risks prosecution.
In British Columbia it is entirely possible to be arrested by police officers for simply holding a forex training event hosted by an independent trainer, if not licensed by FICOM.
The OSC is a little less draconian in its approach, allowing companies regulated by other jurisdictions to solicit for clients in Ontario, but insisting that forex companies located in Ontario are regulated by the Ontario Securities Commission.
This is an excerpt from full and detailed research made by Forex Magnates on the FX industry in Canada which is published in the recently released Forex Magnates Quarterly Report for Q2 , and includes full data on brokerages, technology providers, and a concise overview relating to factors to bear in mind when doing business in Canada.
The world’s second largest country by area is home to just 33.4 million people. Despite its significant under-population and often extreme weather conditions, Canada ranks as one of the best countries in which to live in terms of quality of life, earnings potential and business opportunities.
Canadians often take a long term approach to their investments and trading, with retirement as a significant focus of retail investors.
According to a survey conducted by The Gandalf Group,those with more to invest are more likely to be of retirement age but even those who are of working age consider saving for retirement to be a top goal and many have reshaped their investments in recent times to focus more on retirement.
When it comes to what they consider most when they trade, most retail investors often overlook governance, ethical, corporate citizenship issues, and foreign ownership concerns if the earnings are there. Possible gain over five years is the most important consideration for retail investors.
Financial Infrastructure
Toronto is just 550 kilometers from New York City, and has a developed financial markets infrastructure. As a result, the vast majority of Canadians who trade the markets live and operate in this city.
Toronto Stock Exchange (TSX) was established on October 25, 1861 at the Masonic Hall. Subsequently, due to Canada’s conservative approach to trading throughout its history, Canadian traders are very much focused on traditional stock trading.
Regulatory Structure
Around 2011, Canada’s regulators began to assess methods of regulating the Forex industry on a domestic basis. This is administered on a provincial level, and currently there are two regulators in Canada: The OSC and the Financial Institutions Commission (FICOM) of British Columbia.
At present, Ontario, Alberta and British Columbia are the only provinces which regulate Online Trading, all three of which have slightly different criteria. In British Columbia it is illegal to operate unless regulated by FICOM. Any forex company or representative of a forex company soliciting for business in British Columbia without FICOM regulations risks prosecution.
In British Columbia it is entirely possible to be arrested by police officers for simply holding a forex training event hosted by an independent trainer, if not licensed by FICOM.
The OSC is a little less draconian in its approach, allowing companies regulated by other jurisdictions to solicit for clients in Ontario, but insisting that forex companies located in Ontario are regulated by the Ontario Securities Commission.
This is an excerpt from full and detailed research made by Forex Magnates on the FX industry in Canada which is published in the recently released Forex Magnates Quarterly Report for Q2 , and includes full data on brokerages, technology providers, and a concise overview relating to factors to bear in mind when doing business in Canada.
Interactive Brokers Expands Offerings with Daily Options on French Stocks
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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