The interest in this form of trading has surged in Canada in recent years. In contrast to traders in the across the border in the United States, there are no restrictions placed on trading binary options for Canadian citizens.
As with many markets, Canada has seen an explosion of interest in online trading. As a result traders looking for a top binary options broker will have a wide choice when it comes to selecting one to do business with.
|Company||Bonus||Min Deposit||Min Trade||Max Trade||In The Money||Out The Money||Regulated||More|
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Top Brokers For Binary Option Traders In Canada
There are no restrictions on this form of financial trading. Therefore Canadian traders are free to open an account with almost any broker of their choice. The choice may come down to the language that the trading platform operates in or any additional bonus materials or offers.
It is of course important to carry out the necessary checks when picking a company to trade with wherever they are based. We focus on two trusted binary options brokers who will serve Canadian Binary Options traders well. Each provides their website and trading materials in both English and French languages.
- Banc De Binary – One of our favored brokers who offer one of the best implementations of the SpotOption platform. This broker pretty much offers it all. In terms of contracts you can trade Higher or Lower, Touch, Boundary and 60 second contracts. In addition a huge range of assets are offered from around the globe. Mobile trading is also supported by trading apps. The Banc de binary mobiles apps are downloadable for free from the iTunes and GooglePlay stores.
- TradeRush – Offering the same SpotOption platform as Banc de Binary, this second pick is ideal for traders who want to operate their account in their local currency. TradeRush are one of the few brokers that allow traders to open and operate accounts in Canadian Dollars (CAD). The features of the platform are very similar to other SpotOption brokers. If you however operating your account in your local currency is important, then this is a good choice.
There are few barriers to opening an account for traders residing in Canada. New traders are subject to the same deposit requirements and terms and conditions as traders from elsewhere around the globe.
Very few brokers offer accounts that can be operated in Canadian dollars (CAD). Therefore to access the widest choice of brokers you will have to be willing to use US dollars as your base currency. This tends to be the standard currency of operation across the industry.
A key area that brokers are measured on is their support. If you have an issue when trading you want fast response times and a timely resolution to your issue. Most brokers ensure they are easily contactable by providing a range of contact methods. These include online chat, email and region specific telephone numbers to provide support in your preferred language.
In addition these brokers offer a wide range of educational materials designed to help you get up and running. This information will provide you with a useful introduction to the range of binary options trading facilities that are offered. It may also cover some advanced techniques to assist you with setting up your strategies.
Canadian Financial Regulation
The regulation of Binary Options in Canada comes under the official body known as the Investment Industry Regulatory Organization of Canada (IIROC). The wider remit of this body is to maintain regulatory standards across all market participants. It achieves this by monitoring the financial operations of its members.
On a more granular level it also monitors the Trading Conduct of companies. A full set of rules for operating within the financial markets is used by the IIROC to monitor financial activity. The body aims to unsure that these rules are followed and upheld.