EUR/CAD

1.4472
0.27%
Daily
  • L. 1.44628
  • H. 1.45211
  • Ch. -0.00387
  • Ch.% -0.27%
Overview
Costs & Margins
  • EUR/CAD is the ticker for the euro against the Canadian dollar. It tells traders how many Canadian dollars are needed to buy a single euro.

    Both currencies are among the world’s ten most traded in terms of volume – with EUR being the second and CAD placing seventh.1 But as the pair excludes the US dollar, it’s considered a minor or cross-currency pairing.

    Canada is a net exporter of natural resources – particularly oil – so CAD is known as a commodity currency. This means that EUR/CAD is moved by commodity prices as well as central bank decisions and political announcements.

    1BIS Triennial Survey, 2022

  • Margin From
    2.0 %
  • Trading Hours
    24 hours / day *
  • Min Trade Size
    1000
  • Long
    -1.08
  • Short
    0.39
  • Min Stop Distance
    0.00039 points
  • Spreads
  • Spreads From
    0.00026 Points
  • Margins
  • 0 - 4000 000
    2.0 %
  • 4000 000 - 8100 000
    2.0 %
  • 8100 000 - 16000 000
    2.0 %
  • 16000 000 - 20000 000
    3.0 %
  • 20000 000 +
    20.0 %
  • Dealing
  • Spreads
    0.00026 Points
  • Margins
  • 0 - 4000 000
    2.0 %
  • 4000 000 - 8100 000
    2.0 %
  • 8100 000 - 16000 000
    2.0 %
  • 16000 000 - 20000 000
    3.0 %
  • 20000 000 +
    20.0 %

Pivot points
Dailys
Weekly
Monthly
Pivot point
1.45376
Bid
1.45307
Offer
1.45358
Distance
0
Last Updated: 1/24/2023 10:00:00 PM

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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.

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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.

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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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