Canada looking in to binary options bit more carefully now, traders are advised to pick a broker that is regulated. What is regulated?
A company has equity capital which is not less than EUR 200,000;
There is a mandatory insurance for customers’ investments – the European insurance fund of investors;
A company has audits every month in order to check brokerage activities for compliance with all EU requirements;
A company annually undergoes an external balance audit in order to check if there is sufficient capital for traders’ transactions;
A broker uses segregated (separate) accounts for keeping traders` money and doesn’t have a right to use them for any other purposes but for customers` operations.
More Info on IQ Option
Register of: FCA
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, which operates independently of the UK government, and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the UK’s financial markets.
IQ Option Canada
Forex trading is a great way to trade because of the innovative platform and the low investment required. There are numerous sites that offer online trading, so it can be hard to decide between them. One great option is IQ, which has numerous advantages over its competition.
IQ online software tracks price movements in real time so that your investments are accurate, authentic, and timely. The software is built on a responsive design, and loads well on mobile devices. If you`re unsure on using the software, try out the free demo – it`s a great way to decide if it`s right for you. There`s no deposit needed to get started with it.
If you are new to interactive brokers, it can be hard to decide which stocks option is best. IQ has more than 70 assets to choose from, unlike other online platforms that limit options for mobile online options trading. This way, you can choose assets that you are familiar with before taking the plunge. That said, with an investment of as little as $10, payable through a number of options, including Skrill, you can see returns.
Customer support is a priority: IQ provides support staff there to assist with any questions. A support staff member will be able to answer your queries related to investments, including futures trading, global options, stocks option, and mobile online options trading.
IQ Option Review Summary
IQ has numerous benefits over other platforms. These benefits include, but are not limited to, multiple ways of trading, great software, low risk options, and a wide variety of trade options with over 500 available, assets. There are certainly a number of platforms available for online trading, but you can`t go wrong with IQ – it is perfect for your online trading needs.
Legal Canadian Binary Options and Brokers for 2020
Important Information For Canadian Traders
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Canadians wishing to get involved in binary options are wondering if it’s legal to trade binary options in Canada and whether legal brokers operate within the country. This subject matter is rather confusing because there are multiple and often conflicting sets of rules. Deducting whether binary options are legal in Canada can be hard when looking at the existing rules.
The rules are confusing because they don’t stop Canadian binary options traders to use the services of brokers from other countries. And, despite the fact that there is not a single direct reference to binary options being illegal in the Canadian law, the authorities note that Canada does not have licensed and regulate binary options brokers.
Couple of years ago, Canadian traders had lots of options for binary options brokers located offshore. Brokers from fairly reputable jurisdictions like Japan or Cyprus have always welcomed Canadians. Canadian traders also turn to brokers that are licensed in not so reputable licensing jurisdictions like St. Vincent & Grenadines, British Virgin Islands and Belize. All in all, Canadians have very legitimate and good options where to trade.
Frequently Asked Questions
Here you can find answers to frequently asked questions concerning the legality of binary options in Canada.
Are Binary Options Legal in Canada?
Can the government go after Canadian binary options traders?
Does legal means regulated?
Do Canadians have to be concerned about singing up with an offshore broker?
Can I find a list of reputable brokers?
Can a broker acquire a license in Canada?
Can I seek help from the Canadian financial governing bodies?
What is the national financial authority?
What assets should Canadians trade?
Are there any hints that Canadian authorities will regulate the binary options market in Canada?
The Aspects on Which You Should Base Your Broker Selection
There are many pros and cons to look for in a broker, but five aspects are the key aspects you should consider when two brokers are tied for your money. In case you can’t decide between two good brokers, look for the following.
Deposits and Withdrawals
You are getting involved in binary options to make a profit, right? Therefore, it is important to look for a broker that has minimal or no fees regarding transactions. Also, it’s recommended to go for the broker that offers transactions in Canadian dollars so that you don’t have to lose money on the currency exchange.
Types of Options
The average binary options trader is interested in a couple of options even though the broker offers dozens of trading options. In general, if you want to grow your profits look no further than brokers that offer options like Doubling Up, Rollover, Boundary, No Touch, One Touch, High/Low etc.
A user-friendly platform as well as the option to use a demo account first is important too. Demo accounts help traders to get a good sense of the platform and the entire service. It’s like a test run before deciding to deposit real money and start trading. Go for the brokers that offer demo accounts, test their platform and then decide.
Tools and Resources
The more you learn, the better trader you are. Although you can find resources all over the internet, a broker that has a rich library of learning resources is a recommended. Having all the important information on one place can facilitate your learning process.
Prompt 24/7 customer service response is important when dealing with an offshore broker. Brokers usually offer live chat or telephone service to address problems quickly. Also, a broker needs to have a reputable and professional customer support team, which can be easily ascertained by looking for other trader’s opinions.
How To Start Trading
Start with a small capital first because binary options don’t require much to get started. That is one of the beauties of binary options trading. A you learn and you improve your trading skills, you will want to risk higher amounts of money, which is a very natural temptation in a trader. If your budget allows it, do it. But, remember that this means increased potential for loss. The best practice here is to always evaluate how much you can afford to lose.
When you have decided how much money you can set aside to get started, decide whether you are going to accept a bonus. Brokers love to give bonuses to traders, and usually these are very helpful as a budget boost. But, some bonuses have been created as drawbacks. The drawback is usually spotted when you want to withdraw your profits only to see that you haven’t met the terms & conditions set out for the bonus. Such bonuses are not worthwhile at all.