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Deliver foreign cash to your home in 4 days
Exchange USD/CAD Online 24/7
4841 Yonge St. Unit #237D, North York, Toronto, ON., M2N 5X2
Monday - Friday: 11am - 4pm
Canadian dollar bank draft payable to "Currency Mart"
US dollar wire transfer
Canadian dollar eTransfer (Max $10,0000/day)
Canadian or US currency cheque payable to customer's name
Canadian or US currency dollar wire transfer
Canadian or US currency dollar electrical fund transfer (arrive next business day)
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. The market is also decentralized and operates 24 hours per day around the globe. London, New York and Tokyo are the three major markets and followed by cities of Hong Kong and Singapore. Decentralized market means each 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.
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 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 transactions. Licensed brokers who serve retail clients and small businesses fill up the rest of market gap.
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 market and most favourable exchange rates available for both wholesale and retail customers.
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 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 North York branch is inside the Yonge Sheppard Centre in North York, right at the intersection of Yonge St. and Sheppard Ave. Around Current Mart Toronto North York branch, there are 170,000 people working around.
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