How do I open an account with FOREX.ca ?

Opening an account is easy. Simply complete the following two steps.

Why should I trade with FOREX.ca ?

FOREX.ca is focused on providing information to the forex trader. As a client of FOREX.ca, you can feel secure knowing you are doing business with one of the leading providers of forex online trading. Clients benefit from instantaneous execution from real time streaming quotes, point and click order entry, an integrated charting tool, streaming news and market analysis, superior 24-hour customer service.

What's the difference between a demo and live trading account?

The only difference is that there is no capital at risk when trading on the demo system. FOREX.ca's

demo system is fully functional and, more importantly, the bid/ask rates available in the demo system are the EXACT rates available to our live trading clients. The demo allows you to see firsthand the consistent Interbank dealing spreads offered by FOREX.ca and sample the ability to deal instantly from live, streaming quotes.

Can I trade with FOREX.ca if I am not using my main computer?

You may trade with FOREX.ca from any computer with an Internet connection. Simply go to www.forex.ca  and click on "Login Centre" to access your platform. If you are traveling or do not have access to a computer with an Internet connection, you may execute trades over the phone with a dealer.
 

How do I know if my account has been opened?

Once your account is opened, you will receive an email with your username, password and instructions for accessing your account. Please note that username's are only assigned after your account paperwork has been approved and initial funds have been posted.
 

What are your commissions and fees?

FOREX.ca does not charge commissions.*  Prices quoted are inclusive of our normal dealing spreads, which are Interbank dealing spreads or less on all major currencies, including US Dollar, British Pound (Sterling), Japanese Yen, Euro, Swiss Franc, Canadian Dollar, and Australian Dollar.  We are compensated through the bid/ask spread.

Who is FOREX.ca?

Forex.ca is wholly owned by "Cash Forex Trading Inc.", a Toronto based introducing broker, (IB).

Forex.ca is an authorized TradeStation technologies reseller, forex training and solutions provider. We believe focusing on the "cash" forex market will continue to give us and our traders an edge and this may directly affect the success you experience as a trader.

Forex.ca was launched with the goal of providing investors wishing to enter the foreign currencies market a robust and secure environment in which to do so. FOREX.ca also offers full service trading capabilities, including forex mini accounts. With trade sizes that are 1/10th the size of a regular account, a forex mini account allows you to put less capital at risk - and you can start trading with an initial investment of just $250. This type of account is especially suitable for traders new to the forex markets.

What other services does FOREX.ca offer?

Our dealing software provides each client with a wide range of trading tools, including technical analysis and charting, real-time news feeds, real-time profit and loss analysis, and full back office capabilities. Market professionals will also provide daily FX commentary. Finally, account statements are sent at the beginning of each month, and list all transactions for the previous month by currency and value date, a summary of all current open positions, and account balance as calculated at the close of business on the last business day of the month.

As an authorized TradeStation technologies reseller, Forex.ca is in a position to offer superior forex resources such as free forex autotrading.

What are your trading hours?

Traders are available 24 hours daily from 5:00pm EST Sundays through 4:30pm EST on Fridays, including most U.S. Holidays.

How do I fund my account?

There are four easy ways to fund your account.

Credit Card - The fastest way to fund your account
Bank or Cashier's Check
Personal or Business Check
Wire Transfer

For more information on funding your account, click here.

When will my funds be posted to my account?

The time it takes for a deposit to post to your account will depend on the method in which it is sent:

Personal Cheques - 5 to 7 business days
Cashiers/Bank Cheques - 1 business day after receipt
Wire - within 24 hours of receipt
Credit Card - within 24 hours of receipt
Foreign Cheques/Wires - within 24 hours of receipt
 

What happens to my open positions at the end of the trading day?

Unless specific settlement instructions are provided, FOREX.ca will automatically roll forward all open positions to the next day's value date at the end of each business day, 5:00 pm EST. All rolls will be done at competitive rollover rates, and depending on the currency pairs involved, trades will be executed where the trader will either earn or pay away points, depending on the interest rate differential between the two currencies.

For details see the Dealing Handbook

How do I withdraw money from my account?

To withdraw funds from an existing account, please print, complete and sign a withdrawal request form (Adobe Acrobat Required) and fax it to: +416-769-1360

Withdrawal requests are processed within two (2) business days of receipt.

How much money do I need to open an account?

The minimum deposit required to open a mini account with FOREX.ca is US$250. FOREX.ca's minimum transaction size for a mini account is US$10,000 (or the equivalent), with a minimum margin deposit of $250 (at 200:1 leverage).

The minimum deposit to open a standard account with FOREX.ca is US$2,500. FOREX.ca's minimum transaction size for a standard account is US$100,000 (or the equivalent), with a minimum margin deposit of $2,500 (at 100:1 leverage).

What are FOREX.ca's margin requirements?

FOREX.ca's initial margin requirement for a mini account is US $250 on our minimum trade size of US $10,000.

FOREX.ca's initial margin requirement for a standard account is US $2,500 on our minimum trade size of US $100,000.

FOREX.ca will only execute trades on margin if the client has sufficient funds in his or her account.

What is the best way to send new account paperwork?

The fastest method to send new account paperwork is by fax or email. New documents should be faxed to 416-769-1360 or e-mailed to Admin@forex.ca. Lower quality or old fax machines are often difficult to read. If you do not have access to a high quality fax machine, scanning and then e-mailing the image is often times a simple solution.
 

Can I place orders over the phone?

You may trade with FOREX.ca from any computer with an Internet connection. Simply go

www.forex.ca  and login to your account. If you are traveling or do not have access to a computer with an Internet connection, you may execute trades over the phone with a  dealer.