Forex Brokers Regulation in Canada

Canada has 10 provinces and 3 territorial, and actually each provinces has their own regulation for forex broker. At now, we talk about Ontario area. The Ontario Securities Commission (OSC) is regulatory body that responsible for regulating Ontario’s capital market and related to Canadian forex brokers especially in Ontario. This commission have responsible to protect investor from unfair , improper or fraudulent practices and to push the efficient and fair of capital markets and trusting in capital markets. As a regulatory body that responsible to administering the Security Act and the Commodity and the Commodity Future Act.

There are some role of Ontario Securities Commission (OSC)

1. Role as a Regulator

As a regulator they make policies and role that have force of law. And they have adjudicative function, involve:

- administering the law, policies and regulation the made

- Review of adjudicative decisions of self-regulatory organizations

- Review the decision of OSC staff

2. Role as a Board

Member of OSC have other function as Board of Directors of the OSC, with responsibilities for its overall stewardship.

The function of The Board is overseeing the management of OSC’s financial affair and accept it’s annual strategic and operating plans and budget that will be use.

3. Appointment

Each appointment to the Commission are make depend on the procedures of the Public Appointments Secretariat of the Goverment of Ontario

As a Canadian forex brokers you have to comply all the law and policies of this regulatory body. And as costumer you should keep your understanding for regulated Forex brokers, for this case Canadian forex brokers,  who have hidden costs that can add up if you’re not aware of them. That is why it is very important to read their websites carefully before deciding upon the firm that will handle your trades. Even if the firm is regulated, the chances are that you will not receive your funds back if you failed to read and consider all of the terms and conditions of the service before signing up with them.

OSC Website : http://www.osc.gov.on.ca