• L. 108.07
  • H. 108.396
  • Ch. -0.066
  • Ch.% -0.06%
Costs & Margins
  • CAD/JPY represents the exchange rate of Canadian dollars against Japanese yen in forex markets. Like most other yen currency pairs, the pip value is located in the second decimal place.

    This currency pair is often used as a substitute for USD/JPY when traders want to avoid trading the US dollar because of uncertainty in the US economy. Japan has a much larger economy than Canada, but the two are closely linked through trade. A majority of Canada’s exports to Japan are energy and agricultural products, while Japan mostly exports motor vehicles and related parts to Canada.

  • Margin From
    5.0 %
  • Trading Hours
    24 hours / day *
  • Min Trade Size
  • Long
  • Short
  • Min Stop Distance
    0.036 Points
  • Spreads
  • Spreads From
    0.030 Points
  • Margins
  • 0 - 32000 000
    5.0 %
  • 32000 000 +
    20.0 %
  • Dealing
  • Spreads
    0.030 Points
  • Margins
  • 0 - 32000 000
    5.0 %
  • 32000 000 +
    20.0 %
Economic Calendar

Pivot points
Pivot point
Last Updated: 11/29/2023 10:00:00 PM

Forex explained

What is forex?

Forex is the process by which traders can buy one currency and simultaneously sell another, with the goal to profit from the direction price is likely to take in the future. With a daily trading volume of more than $6.5 trillion, the forex market is the most traded in the world, and is open 24 hours a day, 5 days a week for banks, institutions and individuals worldwide.

Read more on what is forex.

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Why trade forex

People trade forex for a range of reasons, including the unmatched liquidity of the market, the ability to trade on leverage, the opportunity to take positions in both rising and falling markets, the lack of hidden fees or commissions, and the accessibility of markets being open 25 hours a day, five days a week.

Read more about why to trade forex.

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How to trade forex

In order to trade forex, there are a few key steps to follow. First, you need to select a currency pair. Many traders choose a major pair such as EUR/USD due to high liquidity. Next, analyzing the market is key to understanding the technical and fundamental drivers that may affect price. Once you understand how to read the quote, it's time to open your position by going long or short.

You'll need to monitor your trade, with many traders using technical indicators to make better sense of price action, and features such as stops and limits to manage risk. Finally, you can close your position when the market hits a price at which you want to exit.

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