IIROC Brokers – Binary Brokers Regulated in Canada & Good Alternatives

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker!
    Perfect For Beginners!
    Free Trading Education!
    Free Demo Account!
    Sign-up Bonus:

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

Contents

Trusted Binary Options Brokers List

During the last few years, an increasing number of people are getting involved in binary options trading. Similarly, the number of binary options brokers has increased to cater for this growing interest. Currently, it is estimated that there are more than 450 brokers who are providing these services. The high number of brokers available is good for the industry because it necessitates competition and hard work to meet the various needs of traders.

Binary Options Brokers Reviews

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Before channeling your hard-earned money to open an account with any binary options broker, it’s crucial you understand how they operate and whether they are suitable to hold your cash. The choice of a broker can really be the difference between having a successful career or failing to realize your dreams.

Furthermore, we have categorized the various brokers based on their respective regions. This way, you can easily locate a good broker operating in your geographical location and open an account right away.

Top 5 Trusted Brokers 2020

The best binary options brokers in the industry have certain qualifying traits that set them apart from the rest. These brokers provide a perfect mix of diverse asset base, variety of trading accounts, convenient and secure deposit and withdrawal methods, a reasonable level of financial stability, high rate of profitability, command a high reputation in the industry, and most importantly, backed and operated by a strong and professional team.

There are many other brokers that are also considered to be in the list of the best binary options brokers due to the top-notch services and facilities they offer.

Regulation Turnover Minimum deposit Founded Bonus
CySEC up to 100% $100 2020 No Read review
CySEC, IFSC, CONSOB, BAFIN 90% $250 2020 No Read review
FCA 85% £100 2020 50% Read review
FCA 81% $250 2020 100% Read review
CySEC, FCA, BAFIN, CONSOB, AMF, Regafi 95% $10 2020 up to 50% Read review

Brokers Accepting US Traders

There are some very professional and reliable binary options brokers available online. However, not all of them offer trading for USA customers due to regulatory restrictions.

Here are some highly reputable brokerage companies offering online trading services to USA clients with some attractive benefits.

  • Instaforex offers up to 85% payout with a bonus of up to 100%
  • OptionRobot is the most popular binary options robot in the industry, that working with brokers who accept traders from the USA

Binary Options Brokers in Australia

We have also conducted a check regarding binary options brokers offering excellent trading services to Australian clients. Here is a list of some brokers licensed to operate in Australia:

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker!
    Perfect For Beginners!
    Free Trading Education!
    Free Demo Account!
    Sign-up Bonus:

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

  • PlusOption allows a minimum investment amount of USD 250. You can get up to 81% payout with the broker.
  • Finpari allows traders to open an account with initial deposit of USD 250 and offers up to 100% bonus. The broker’s payout is up to 85%.

Binary Options Brokers in Canada

Canada blocked 37 binary options brokers in March 2020, but there are still number of brokers providing binary options trading for canadian traders.

Here is a list of some of them:

  • Finpari
  • PlusOption
  • StoxMarket provides free demo account and bonus of up to 100%

Low Purchase Binary Options Brokers

Offering low purchase binary options is also an important feature that distinguishes some brokers from the others.

  • IQ Option allows traders to execute trades with just USD 1. The broker’s maximum single trade limit is USD 5,000, minimum deposit amount is USD 10, and maximum payout is up to 91%.
  • Ayrex allows a minimum trading amount of USD 1 and a maximum single trade limit of USD 5000. The minimum deposit amount is USD 10 and you can expect to make profits of up to 85%.
  • Binary allows traders to use as little as USD 1 for trading. The broker’s maximum single trade limit it USD 3000, minimum deposit amount is USD 10, and maximum payout is 85%.

Brokers Offering Free Demo Account

A free demo account means that trading is carried out with virtual money without involving any real money. This way, you can conveniently practice and gain the necessary familiarity with binary options trading risk-free.

Choose Trusted Binary Option Broker

Binary options trading is quite a sensitive industry and a lot of funds are normally at stake. Since the internet is littered with all sorts of binary options brokers, it is important that serious trading of binary options be done only with trusted and highly reputable brokers.

We surveyed various online forums and interviewed various active traders to find out some trusted binary brokers who deliver up to the promise. From the survey and the feedback we got from active traders, we can confidently affirm that some of the trusted brokers in the industry include Finpari, Opteck, Magnum Options, 24option, and IQ Option.

Tips for Choosing Binary Options Brokers

It is important to choose a binary options trading broker very carefully and with full knowledge and understanding of the outcomes of your decisions.

Here are some key tips you can use when choosing a broker for binary options trading.

  1. Trading Platform: It is very important to work with a broker who has the best trading platform. Most brokers have customized platforms but you must ascertain whether they are suited for trading binary options.
  2. Assets: The range and variety of assets a broker offers is critical. Different brokers offer different types of assets. Thus, you should choose a broker offering financial instruments that resonate well with your preferences and trading style.
  3. Minimum deposit: With a suitable initial deposit, you can conveniently test whether your preferred broker has what you were looking for.
  4. Localization: Choosing a broker operating within your locality could mean access to trading conditions that are aligned to your needs and preferences.
  5. Regulation: You should do a thorough background check to ascertain if your preferred broker is under an authentic regulatory body. Choosing an unregulated broker could land you in problems and deteriorate your career ambitions.
  6. Deposit / Withdrawal options: Traders are usually cautious about the procedures of deposit and withdrawal of money from the broker. It is important to check whether you are comfortable with the type of deposit and withdrawal options offered.
  7. Payout %: The payout percentage varies between different brokers. If you are planning to trade binary options, then it is important to check the level of payout percentage offered so that you are able to choose accordingly. There are brokers who offer payouts well above 85%.
  8. Bonus: Some brokers offer bonuses in monetary terms while others offer bonuses in percentage terms. You should check out what type of bonus a broker is offering before committing to start trading with that broker.
  9. Demo account: Practice is very important, as it will provide the familiarity and ease necessary before you commence trading. You should try out the free demo accounts provided by the binary options brokers so that you are able to choose the platform of your liking.
  10. Customer service: Go for a broker with a friendly, supportive, and outstanding customer service department.

It is important you spend the hours and search for a good binary options broker that will provide you with the best conditions for trading. Fortunately, we have done the legwork for you so that you can have an easy time selecting a top-notch broker.

With the above in-depth review, there are great chances that you will choose a superb binary options broker that will be ideally suited for you. And, it will serve as the cornerstone for establishing a successful career in the lucrative binary options market.

FXDailyReport.Com

Over the last few years, online forex trading has become very popular as it is considered as a type of investment. This is because you have to be lucky in order to make money using some of the other online methods. Actually, forex trading gives you an opportunity to be a part of the global market trade currencies of many countries from anywhere in the world for 24 hours in a day.

If you are looking to invest in currency trading in Canada, the best option is to choose an IIROC regulated broker. IIROC expands to Investment Industry Regulatory Organization of Canada and this agency is responsible for regulating the financial markets in the country. Though financial regulation is done at the provincial level as well, the IIROC federal regulations take precedence over provincial bodies as far as the forex market is concerned.

The IIROC is responsible for the following:

  • Writing rules and setting high operation standards for the investment sector
  • Screening of investment advisors appointed by IIROC-regulated firms.
  • Setting minimum capital adequacy requirements and conducting financial compliance reviews
  • Reviewing to ensure that member firms have procedures in place for handling of clients’ accounts and catering to the needs of individual clients
  • Reviewing to make sure that member firms complying with regulations
  • Investigating misconduct of member firms and enforcing disciplinary proceedings such as penalties, fines, permanent bans, suspensions, and termination of membership

Canadian Forex brokers providing forex trading services to the country’s residents must have IIROC registration. Only IIROC-regulated forex brokers are considered as Canadian Forex brokers. The margin requirement limit specified by the regulatory agency is 18:1, which is much lower than offered by the forex brokers in the USA.

Further, all those that want to work with Canadian forex brokers in sales have to be certified. They should also be qualified futures traders. In addition, portfolio managers of Canadian forex brokers should be appropriately qualified. This means that just about anyone cannot to set up broking firms and manage accounts of individuals.

That said, the biggest perk of choosing to work with a Canadian currency broker is that your account will be insured by the Canadian Investor Protection Fund for up to $1 million against losses caused because of broker insolvency.

Having discussed in detail the regulatory environment in Canada, let us now look at the factors to be considered when choosing the best forex broker in Canada for online trading:

  • Regulation by IIROC

This is the first aspect you should take into consideration. You can easily find out whether a forex broker has IIROC registration or not. You just have to visit the Commission’s website. Further, you can perform due diligence using the Commission’s central registry which includes all important information related to registration, approval, and disciplinary action initiated against a broker.

In general, currency pairs are segregated as minor, major, and exotic. Major currency pairs consist of the USD and seven other most-traded world currencies. Minor currency pairs exclude the USD but have combinations of the most-traded currencies. Exotic pairs consist of currencies that are traded less. The Canadian forex broker you are planning to work with should be offering a few currency pairs from each category.

Canadian forex brokers

One of the biggest perks of trading with a Canadian forex broker is the Canadian Investor Protection Fund (CIPF), which insures every trader’s account for up to $1 million against suffering losses due to an insolvent broker. See a list of all CIPF members here. Furthermore, all brokers in the country must be registered with the Investment Industry Regulatory Organization of Canada (IIROC).

Depending on the province, where they are registered, brokers in Canada may need to comply with different regulations – Quebec and Ontario, for example, impose additional requrements on forex and CFD brokers (nothing too harsh, though). Unlike the United States, Canada does not ban hedging, there is no FIFO (firs-in-first-out) rule for closing positions, and leverage is not restricted.

Despite being a vast country, Canada is not particularly popular destination for forex brokers; one of the reasons for this is that Canadian citizens are not mandated to trade with nationally-licensed brokers only and can trade with pretty much any brokerage from any country.

Nonetheless, major brokers like FXCM and Forex.com have chosen to set up offices there so that they can cater to the needs of their Canadian clients better. A number of regulated forex brokers like HYCM also accept clients from Canada.

* InvestTechFX and Fx Clearing claim to be Canadian forex brokers, but they are not CIPF members.

Canadian forex brokers

Broker Min.deposit Regulation Country Review
$1 CFTC/NFA, FCA, ASIC US, UK, Canada, Australia, Japan, Singapore Review
$10 000 NFA, CFTC, FCA, ASIC US, UK, Australia, Canada Review
$1000 IIROC Canada Review

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Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker!
    Perfect For Beginners!
    Free Trading Education!
    Free Demo Account!
    Sign-up Bonus:

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

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