Canadian Dollar
Canada is the second-largest country in the world. It produces and exports an abundance of natural resources … and cars, too. It has the third-greatest number of oil deposits2 in the world, after Venezuela and Saudi Arabia.
Since 2009, its balance of trade4 has been negative (exports less than imports) more often than not. Since COVID-19, it has been more negative and more volatile. It has been trending higher, though, along with the price of its biggest export: crude oil.
Originally called the Canadian pound, the currency was renamed the Canadian dollar (CAD) in 1858.
About Canada
GDP1
$2.24
Trillion
USD
Major Exports2
Crude Oil
Cars
Gas
Major Export Partners2
U.S.
China
Japan
Budget Deficit3
-3.6%
Trade Flows4
14.8
Billion
CAD
Pros and Cons of the Canadian Dollar
- Backed by a highly stable economy5
- Supported by major natural resource exports6
- Strong trade relationship with the U.S.7
- Oil-price dependence creates volatility6
- Sensitive to U.S. economic conditions7
- Limited global reserve-currency role8
1. https://tradingeconomics.com/country-list/gdp
2. https://tradingeconomics.com/country-list/exports;?continent=g20
3. https://tradingeconomics.com/country-list/government-budget?continent=world
4. https://tradingeconomics.com/country-list/balance-of-trade
5. https://www.bankofcanada.ca/core-functions/financial-system/
6. https://natural-resources.canada.ca/
7. https://ustr.gov/countries-regions/americas/canada
8. https://data.imf.org/en/datasets/IMF.STA:COFER
It’s as easy as open, fund, trade.
Open a Global Markets Portfolio
Start a Global Markets Portfolio with a Cash Account
Fund your account
Use your Cash Account as your funding source
Trade
Use your Global Markets Portfolio to buy or sell over 20 global currencies
How to Buy the Canadian Dollar
Currency CD
Term
APY
3 Month
0.25%
6 Month
0.25%
9 Month
0.25%
12 Month
0.25%
Currency Deposit Account
$2,500 minimum initial trade per currency. After initial trade, no minimum trade amount required.
Balance
APY
All Balances
0.00%
How to Open An Account
Buying and selling foreign currencies begin with a Global Markets High Yield Cash Account, which serves as the funding account for your currency transactions. Once it’s open, you will automatically receive a Global Markets Portfolio. This Portfolio will allow you to buy and sell any of the 20 foreign currencies available.
Global Markets
High Yield Cash Account
The High Yield Cash Account with Global Markets access delivers the typical features of a checking account but adds high yields for every dollar in your account.
On top of that, it serves as the launchpad to funding your precious metals and foreign currency transactions as well as access to all Global Markets Products.
- Use as the funding account for precious metals and foreign currency transactions
- ACH transfers to/from external accounts
- Free online bill pay
- Debit card with $30/month of ATM fee reimbursement if charged (Coming Soon)
- 1st order of checks complimentary
- $5 monthly fee waived, no minimum balance required
Currency Deposit
- $2,500 minimum initial trade per currency
- After initial trade, no minimum trade amount required
Currency CD
- $10,000 minimum initial trade per Currency CD
- After initial trade, no minimum trade amount required
Available Currencies
Need Support?
855.922.8853 (BATTLE)
Available Monday to Friday between 8:00 a.m. and 3:30 p.m. central time.
For your security, please do not send sensitive information—including account numbers, usernames, passwords, or Social Security numbers—to the support email, as it is not a secure channel.
