Oanda Canada asking for my Social insurance number

Beginner Questions
1

Hello , just like to hear from other Canadian traders that this is a safe practice where Oanada asks for your social insurance number,

Now in case if my information is stolen from Oandas account what could they do with my Social insuance information?

Are there other trading platforms that don’t require social insurance numbers?

Thanks

2

Hi Lisalemon, were you able to find a answer on that? I like to know as well if it is safe?

3

They need this because they have to report your trading activities to the government, just like any employer. In fact, I am in Canada and would not use any brokers who don’t require your SIN. Whether you make money or lose money, it is a form of income.

4

Haha, just realized the OP was from 2013.