Canadian forex brokers must abide by the rules and regulations laid out by the Investment Industry Regulatory Organization of Canada (IIROC) if they want to work with traders from Canada. This means that when you sign up with one of our recommended online forex brokers that operate in Canada, you’re guaranteed to be working with a company that adheres to the standards of the IIROC. The IIROC carries out certain important activities to supervise the financial services industry, such as:

Setting minimum requirements, such as minimum margin levels for forex trading. Investigation conduct issues, so, if a firm is not following rules and regulations, IIROC can penalize, suspend, fine, permanently ban or terminate their membership. The Financial Institutions Supervisory Committee (FISC) oversees the IIROC. The FISC sets policy and coordinates the activities of Canadian financial institutions.

The Financial Transactions and Report Analysis Center of Canada (FINTRAC) is Canada’s financial intelligence unit. FINTRAC detects, prevents, and deters financial crimes, such as money laundering. It is also responsible for protecting personal financial information. FINTRAC works with IIFOC, and other Canadian regulatory bodies to ensure that forex brokers are operating responsibly.