Trade GBP/CAD, the pound against oil's currency
GBP/CAD prices how many Canadian dollars one British pound buys. The Canadian dollar is closely linked to crude oil, so the pair lets you combine a view on the UK economy with a view on energy prices, without the US dollar.
- 24/5 trading
- Buy or sell
- Regulated by FSC Mauritius
GBP/CAD
Spreads from, pips · Premium
1.0
About GBP/CAD
British pound vs Canadian dollar
Higher oil prices have often supported the Canadian dollar, which tends to push GBP/CAD lower; weaker oil tends to do the opposite. That link varies over time, but it makes the pair relevant for traders in the Gulf who follow the energy market closely.
The pair is most active when London and New York are both open: UK data comes out in the European morning and Canadian data during North American hours.
- MT5 symbol
- GBPCAD
- Known as
- Pound–Loonie cross
- Pip size
- 0.0001
- Trading hours
- 24/5
- Central banks
- Bank of England and Bank of Canada
- Pip value (1 lot)
- C$10 per standard lot (about $7.30 at USD/CAD 1.3700)
- Character
- Oil-linked, wide ranges
What moves it
4 forces that drive GBP/CAD
BoE vs BoC
Each central bank holds eight scheduled decisions a year; the rate gap sets the trend.
Crude oil
Oil prices feed into the Canadian dollar and therefore into GBP/CAD.
UK data
UK inflation and wages move the pound side of the pair.
Canadian data and trade
Canadian jobs, CPI and US–Canada trade headlines move the Loonie.
When to trade
Best hours and key releases for GBP/CAD
Most active: The London–New York overlap, roughly 12:00–16:00 GMT (16:00–20:00 UAE time).
| Session | GMT | UAE time |
|---|---|---|
| Sydney | 21:00–06:00 | 01:00–10:00 |
| Tokyo | 00:00–09:00 | 04:00–13:00 |
| LondonActive | 07:00–16:00 | 11:00–20:00 |
| New YorkActive | 12:00–21:00 | 16:00–01:00 |
Releases that move GBP/CAD
- BoE rate decisionEight times a year.
- BoC rate decisionEight times a year.
- UK CPIMonthly.
- Canadian Labour Force SurveyMonthly.
- US crude inventories (EIA)Weekly, usually Wednesday.
Spreads can widen and prices can gap around these releases. Check an economic calendar for exact dates and times.
Pricing
GBP/CAD spreads by account
Choose the account that fits your trading. The live GBP/CAD spread is always shown in MT5 before you place an order.
Classic
Spread-only, no commission
Spreads from
1.6 pips
- Commission
- None
- Min. deposit
- $100
Premium
Lower spreads, no commission
Spreads from
1.0 pips
- Commission
- None
- Min. deposit
- $3,000
VIP
Raw spreads plus commission
Spreads from
0.0 pips
- Commission
- $6 per 1.00 lot round turn, proportional to lot size
- Min. deposit
- $25,000
* Indicative typical spreads, may vary; last updated 28 September 2026. Spreads are variable and may widen during news releases and low-liquidity sessions. Commissions may apply depending on account type.
Leverage magnifies both gains and losses. Maximum leverage depends on the instrument, account type and your jurisdiction.
Get started
How to trade GBP/CAD on MT5
- 1
Open an account
Register online, verify your identity and choose Classic, Premium or VIP. - 2
Fund your account
Deposit with one of the available methods in the client portal. - 3
Find GBPCAD in MT5
Log in to MetaTrader 5, open Market Watch and add GBPCAD to see the live price and spread. - 4
Plan and place the trade
Set your position size and stop-loss, then choose Buy if you expect the pair to rise or Sell if you expect it to fall.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Forex prices, including GBP/CAD, can move quickly against you, especially around news releases.
FAQ
Frequently asked questions
What is the spread on GBP/CAD at IST Markets?
Spreads on IST Markets accounts start from 1.6 pips on Classic, 1.0 pips on Premium and 0.0 pips plus commission on VIP. The spread on GBP/CAD is variable and depends on market conditions; the live spread is always shown in MT5 before you trade. Cross pairs usually have wider spreads than the majors.
What is the pip value of GBP/CAD?
One pip on GBP/CAD is a price move of 0.0001. On one standard lot it is worth C$10 per standard lot (about $7.30 at USD/CAD 1.3700); a mini lot (0.10) is worth a tenth of that and a micro lot (0.01) a hundredth. Use the free pip calculator to work it out for your trade size.
What is the best time to trade GBP/CAD?
The pair trades 24 hours a day, Monday to Friday. It is usually most active during The London–New York overlap, roughly 12:00–16:00 GMT (16:00–20:00 UAE time). Liquidity tends to be thinnest around the daily rollover and late on Fridays, when spreads can widen.
How does oil affect GBP/CAD?
Canada is a large oil exporter, so higher oil prices have often strengthened the Canadian dollar and pushed GBP/CAD down. The relationship is not fixed, so check it before relying on it.
When is GBP/CAD most active?
During the London–New York overlap, roughly 12:00–16:00 GMT, when both UK and Canadian markets are open and oil trades most actively.
Ready to trade GBP/CAD on MT5?
Register in about 5 minutes; account verification may take longer.