USD/CAD

1.33297
0.06%
Daily
  • L. 1.33077
  • H. 1.33469
  • Ch. 0.0008
  • Ch.% 0.06%
Overview
Costs & Margins
  • USD/CAD is the forex pair representing how many Canadian dollars are equivalent to one US dollar. A close economic relationship between these neighbouring countries means business, tourism and even general lifestyle trends are all affected by the USD/CAD exchange rate.

    CAD is a commodity currency, meaning the strength of its economy depends on the value of its exports. A large portion of Canada’s exports to the US are oil shipments. When the price of oil rises, CAD’s value also rises in relation to USD. While the US also produces crude oil, it imports much more oil than it exports, so rises in the cost of oil will lower the value of USD/CAD.

  • Margin From
    2.0 %
  • Trading Hours
    24 hours / day *
  • Min Trade Size
    1000
  • Long
    -0.26
  • Short
    -0.25
  • Min Stop Distance
    0.00018 points
  • Spreads
  • Spreads From
    0.00013 Points
  • Margins
  • 0 - 10000 000
    2.0 %
  • 10000 000 - 20000 000
    2.0 %
  • 20000 000 - 30000 000
    2.0 %
  • 30000 000 - 75000 000
    3.0 %
  • 75000 000 +
    20.0 %
  • Dealing
  • Spreads
    0.00013 Points
  • Margins
  • 0 - 10000 000
    2.0 %
  • 10000 000 - 20000 000
    2.0 %
  • 20000 000 - 30000 000
    2.0 %
  • 30000 000 - 75000 000
    3.0 %
  • 75000 000 +
    20.0 %

Pivot points
Dailys
Weekly
Monthly
Pivot point
1.33764
Bid
1.33568
Offer
1.33592
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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