Meilleure plate-forme de trading forex au Canada
Article text size A. That can usually be done either via email, phone, or live chat. Special to The Globe and Mail. Firstly, trading forex is a form of investment, unlike many ways of earning money online, which have more to do with being lucky, than with being skilled and able to predict the future events. This is the major aspect of the trade offer.
The power to conquer the markets
According to Aaron Fennell, a futures specialist with ScotiaMcLeod in Toronto, this makes financial sense for individuals who own several hundred thousand dollars worth of foreign stocks. This is a textbook case of currency hedging. To maintain the hedge, as the contracts expire, they would be rolled over into new contracts. A person who has inherited a significant sum of money in a foreign currency wants to convert the money to Canadian dollars and avoid bank exchange rate charges.
This can be accomplished by holding the appropriate currency futures contract s to maturity and taking physical delivery of the contracted sum in Canadian dollars at the end of the contract. This option is only available four times a year. A Canadian who has signed to buy a Florida condo wants to ensure that he has sufficient funds in U. For example, let's assume that the Canadian dollar is at par with the U. To protect against the Canadian dollar falling in value against the greenback before the deal closes, the condo buyer can lock in the exchange rate by selling two Canadian dollar futures contracts expiring after the condo closing date.
Once the condo purchase is completed, the buyer closes out the contracts by buying two Canadian dollar futures contracts, which offset the ones in his account.
If the Canadian dollar has fallen in the interim, the contract price will be lower and the profit on the transaction will offset the exchange rate loss. There is a wrinkle to this strategy. If the Canadian dollar falls sufficiently, our buyer will be required to deposit more money in his account to meet margin requirements. Currency trading has earned a well-deserved reputation as a useful tool for business.
Whether it also belongs in the tool box of individual investors depends on their specific needs. Any prospective currency trader would be well advised to begin by taking heed of this vital piece of advice from futures specialist Mr. Understand how powerful leverage can be. This is a space where subscribers can engage with each other and Globe staff.
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These brokers accept brokers everywhere, but will not guarantee safety of funds in a reliable way. We have researched Forex trading in Canada extensively to bring you reviews and recommendations of the top Canadian brokers. The information we've compiled is as candid and updated as possible to ensure that you make a confident, educated decision.
As you can see in the chart below there are several excellent options, and each broker may be the best Forex broker for different traders depending on their specific needs as outlined above. There's no harm in opening a demo with a few brokers to see which one suits you best. After all, you're lucky to live in a country with so many options and possibilities — why not take advantage of all that online trading in Canada has to offer?
This should not constitute as advertisement in the territory of Belgium, France and Netherlands. The company was founded in and since then, IFC Markets has expanded the range of services provided and has been focused on the development and implementation of innovative approaches to trading. The group was founded in , at the dawn of the modern retail brokerage industry.
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