OANDA (Canada) Corporation ULC holds its operating and customer funds in accounts at top tier banks. When we initially select banks to deposit funds, a thorough review of the bank’s credit rating and financial statements are conducted and completed. We use certain criteria to evaluate the financial condition of the bank. Subsequent reviews are performed at least once a year.
What happens to my money once I make a deposit?
Client deposited balances are not held in segregated bank accounts, unless they exceed certain limits. However, all deposits up to CAD$1,000,000 are protected by the Canadian Investor Protection Fund (CIPF). Please note, these limits are set and controlled by the government of Canada. Please see the CIPF Coverage Policy for complete details.
What happens to my money if OANDA (Canada) Corporation ULC goes into liquidation?
In the event of any insolvency of the bank holding your money, OANDA remains liable to you for the full value of your account. If this should cause OANDA to become insolvent, all customers’ accounts are still protected by the Canadian Investor Protection Fund (CIPF) for up to $1,000,000 per client within specified limits.
What happens if one of the banks OANDA (Canada) Corporation ULC uses to hold my money goes into liquidation?
In the event of any insolvency of the bank holding your money, OANDA remains liable to you for the full value of your account. If this should cause OANDA to become insolvent, all customers’ accounts are still protected by the Canadian Investor Protection Fund (CIPF) for up to $1,000,000 per client within specified limits.
