What Are Canadian Dollar Futures?
Canadian Dollar Futures (6C) are futures contracts based on the value of the Canadian Dollar (CAD) relative to the U.S. Dollar (USD). These contracts allow traders and investors to hedge or speculate on fluctuations in the value of the Canadian Dollar against the U.S. Dollar. Factors that influence the Canadian Dollar include commodity prices, trade relationships, economic reports, and monetary policy in both Canada and the U.S.
Contract Size
- Contract Size: 100,000 Canadian Dollars.
Trading Hours
The Canadian Dollar Futures contract trades nearly 24 hours a day, five days a week, providing consistent access to the global currency markets.
- Sunday to Friday: 5:00 PM to 4:00 PM CT (with a 1-hour daily trading halt from 4:00 PM to 5:00 PM CT).
- Time Zone: Central Time (CT).
Tick Value and Increment
- Tick Size: $0.0001 (1 tick = 1 basis point).
- Tick Value: $10.00 per tick.
- Minimum Price Fluctuation: $0.0001 per CAD/USD.
This makes Canadian Dollar Futures an excellent choice for traders seeking liquidity, leverage, and exposure to the foreign exchange market.
Trading Symbol
- Platform Symbol: 6C
Margins
To trade Canadian Dollar Futures, you’ll need to meet specific margin requirements. Check out Ironbeam’s Margins Page for the latest margin rates and details.
Why Trade Canadian Dollar Futures?
- Liquidity: High liquidity ensures tight spreads and efficient execution.
- Hedging Opportunities: Canadian Dollar Futures are used by businesses and investors to hedge against foreign exchange risk between the U.S. Dollar and the Canadian Dollar.
- Global Influence: The Canadian Dollar is influenced by global trade, commodity exports (especially oil), and economic data from Canada and the U.S.
- Diversification: Add exposure to the foreign exchange market to complement equity or commodity investments.
- Price Discovery: Futures markets provide a key mechanism for determining the fair price of the Canadian Dollar.
Start Trading 6C with Ironbeam
Ironbeam provides a robust trading platform and API to help you access Canadian Dollar Futures with ease. Trade confidently with free real-time Level 2 market data and personal broker support.
DISCLAIMER: There is a substantial risk of loss in trading commodity futures and options products. Losses in excess of your initial investment may occur. Past performance is not necessarily indicative of future results. Please contact your account representative with concerns or questions.