Trade USD/CAD, the oil-linked major
USD/CAD prices how many Canadian dollars one US dollar buys. Canada is one of the world's largest oil producers and sends most of its exports to the United States, so the pair links two closely tied economies and often moves with crude prices.
- 24/5 trading
- Buy or sell
- Regulated by FSC Mauritius
USD/CAD
Spreads from, pips · Premium
1.0
About USD/CAD
US dollar vs Canadian dollar
The Canadian dollar is nicknamed the Loonie after the loon bird on Canada's one-dollar coin. Because crude oil is a major Canadian export, higher oil prices have often supported the Loonie, pushing USD/CAD lower, although the relationship is not fixed and can break down.
Trade between the two countries also matters: tariff headlines and US–Canada trade negotiations can move the pair quickly. For traders in the Gulf, USD/CAD is a natural way to combine a view on oil with a view on the dollar.
- MT5 symbol
- USDCAD
- Known as
- Loonie
- Pip size
- 0.0001
- Trading hours
- 24/5
- Central banks
- US Federal Reserve and Bank of Canada
- Pip value (1 lot)
- C$10 per standard lot (about $7.30 at 1.3700)
- Character
- Oil-linked, North American hours
What moves it
4 forces that drive USD/CAD
Crude oil prices
Rising oil has often supported the Canadian dollar. Weekly US crude inventory data can add intraday volatility.
Bank of Canada vs Fed
The BoC has eight scheduled rate announcements a year; the gap with Fed policy steers the trend.
Jobs data on the same day
Canada's Labour Force Survey is often released on the same morning as US payrolls, which can make those sessions very active.
Trade policy
The US is Canada's largest trading partner, so tariffs and trade talks feed directly into the pair.
When to trade
Best hours and key releases for USD/CAD
Most active: The New York session, especially 12:00–16:00 GMT when US and Canadian data are released.
| Session | GMT | UAE time |
|---|---|---|
| Sydney | 21:00–06:00 | 01:00–10:00 |
| Tokyo | 00:00–09:00 | 04:00–13:00 |
| London | 07:00–16:00 | 11:00–20:00 |
| New YorkActive | 12:00–21:00 | 16:00–01:00 |
Releases that move USD/CAD
- Canadian Labour Force SurveyMonthly, often with US payrolls.
- Canadian CPIMonthly.
- BoC rate decisionEight times a year.
- US crude inventories (EIA)Weekly, usually Wednesday.
- US payrolls, CPI and FOMCThe main US-side catalysts.
Spreads can widen and prices can gap around these releases. Check an economic calendar for exact dates and times.
Pricing
USD/CAD spreads by account
Choose the account that fits your trading. The live USD/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 USD/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 USDCAD in MT5
Log in to MetaTrader 5, open Market Watch and add USDCAD 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 USD/CAD, can move quickly against you, especially around news releases.
FAQ
Frequently asked questions
What is the spread on USD/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 USD/CAD is variable and depends on market conditions; the live spread is always shown in MT5 before you trade.
What is the pip value of USD/CAD?
One pip on USD/CAD is a price move of 0.0001. On one standard lot it is worth C$10 per standard lot (about $7.30 at 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 USD/CAD?
The pair trades 24 hours a day, Monday to Friday. It is usually most active during The New York session, especially 12:00–16:00 GMT when US and Canadian data are released. Liquidity tends to be thinnest around the daily rollover and late on Fridays, when spreads can widen.
How do oil prices affect USD/CAD?
Canada is a large oil exporter, so higher oil prices have often strengthened the Canadian dollar and pushed USD/CAD down, and vice versa. The link varies over time, so check the correlation before relying on it.
Why is the Canadian dollar called the Loonie?
Canada's one-dollar coin, introduced in 1987, shows a loon, a common Canadian water bird. The coin and then the currency became known as the Loonie.
Ready to trade USD/CAD on MT5?
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