Currency Exchange Winnipeg St. Vital Currency Mart

Foreign Exchange Market

Foreign exchange is changing one currency to another for the purpose of travel, purchase or investment. According to a study of Bank for International Settlements, daily average was more than $6 trillion trading volume. Currency Mart acts as a counter-party to an off-exchange or an over-the-counter forex transaction of cash, financial instruments, futures contracts, options on futures contracts. Foreign exchange is a decentralized market and operates 24 hours per day around the globe. London, New York and Tokyo are the three major foreign exchange markets and followed by cities of Hong Kong and Singapore. Decentralized market means each foreign exchange broker offers its own buy in and sell out exchange rates. The rates are determined based on the demand, inventory and supply of the particular dealer and also the interbank rates at that moment. That is why exchange rates at the same moment are similar, but different broker to broker.

Canadian Foreign Exchange Market

Annually, about $600 billion Canadian dollars exchanged to other currencies, over 50% is changed to US dollar and Euro dollar is the second most wanted currency. RBC is the major player in Canadian foreign exchange market. With the other four major banks, banks count 90% of market transaction volume. In addition to banks, large corporations who deal with petroleum or grains conduct massive amount of foreign exchange transactions. Licensed brokers who serve retail clients and small businesses fill up the rest of market gap.

Toronto Foreign Exchange Market

Toronto is the major city for Canadian dollar exchange, followed by Vancouver, Montreal and Calgary. Toronto, headquarters of five major Canadian banks which own over 90% of Canadian financial market share, has the most competitive foreign exchange market and most favourable foreign exchange rates available for both wholesale and retail customers.

About Currency Mart

Currency Mart is a licensed foreign exchange broker, license No.M11432814. Started in 2012, Currency Mart operates four foreign exchange retail shops in Toronto and Winnipeg, served over 47,000 customers, conducted more than 100,000 transactions, and the total trade amount is over $300 million Canadian dollars.

Currency Mart Toronto Branch

Currency Mart acts as market makers between individuals and will charge a fee or commission for their services. While there is some oversight of retail foreign exchange dealing, many of the standard FINTRAC rules for brokers and dealers might apply to forex transactions. Currency Mart Toronto branch is inside the Toronto PATH in downtown, Richmond-Adelaide Centre section, around one block away, north of Toronto financial core. Around Current Mart Toronto branch, there are 67 skyscrapers, more than 175 office buildings and around half a million people working around.

Currencies in Stock

We keep US dollar, Euro, Pound sterling, Japanese Yen, Mexican peso and other 50 currencies always in stock. In addition, we can bring in another 20 currencies to this branch in one day