Looking for Forex Brokers Canada? Not sure which Canada broker is suitable and best for you? Or want to verify if the broker is truly regulated Canada by IIROC?

We provide answers to all the questions in this article. We researched and compared over 10 Canadian Forex Brokers including their regulation status, spread & commission, the time for deposit & withdrawal and many more findings.

IIROC Regulated Forex brokers in Canada & regulations

Forex Brokers in Canada must be fully registered and obtain license from the local regulatory body Investment Industry Regulatory Organization of Canada (IIROC). IIROC is among strictest and well-rounded financial bodies with strict guidance and good protection of clients, IIROC via Wikipedia.

There is a guarantee coverage in case of the broker insolvency provided by Canadian Investor Protection Fund (CIPF) and protection up to $1 million. To verify license and company registration go to IIROC website: www.iiroc.ca also we recommend follow IIROC Twitter for the most recent updates, @IIROCinfo and @FINTRAC_Canada.

Best Forex Brokers Canada - IIROC Regulation website
Best Forex Brokers Canada – IIROC Regulation website

Best Forex brokers in Canada

To select the best Canadian Forex Brokers we research and compare Forex Brokers with IIROC regulation and license, also Forex Brokers accepting Canadian clients. We review details of spread and commission, trading platform, deposits and withdrawals conditions, education and customer service. Here is our List of Top Forex Brokers Review in Canada:

  • Interactive Brokers – Lowest Spread Forex Broker Canada
  • OANDA – Best Broker for Beginners Canada
  • IG – Best Broker Overall Canada
  • CMC Markets – Best Web Trading Platform Canada
  • Forex.com – Best MT4 Broker in Canada

What makes a good forex broker in Canada?

You should check 4 points that makes broker a good Forex Broker, these includes license and good reputation, favorable trading conditions, education and research, and customer service.

  • Must be licensed IIROC or regulated broker with good license like FCA, ASIC (Canadian traders can choose broker from other jurisdiction that accept Canadian clients)
  • Offer favorable trading conditions with low spreads, good range of trading instruments and platforms
  • Provide quality education Webinars, trading videos and research
  • Have easy to reach and communicate Customer Support

10 Top Forex brokers in Canada List & Review

A list of Best Forex Brokers for Canadians ranked by us that are based in Canada or accept Canadian clients:

Forex BrokerCanada RegulatedWhy they are our top picksOur Review
OANDAYesOANDA might be the best for beginners, it has a easy to use and packed with tools desktop trading platform, great education materials and research, plus very wide range of instruments compared to other brokers.Visit OANDA site

OANDA review
FortradeYesFortrade might be the best for intuitive trading of Bitcoin. The broker is multiply regulated and also provide great quality education materials and up to date market information on friendly and intuitive design platforms.  Visit Fortrade site

Fortrade Review
Interactive BrokersYesInteractiveBrokers should be the best for professional traders and active traders. IB has great proprietary software with powerful tools and analysis and one of the largest industry instruments proposal plus to low costs.Visit InteractiveBrokers site  

Interactive Brokers Review
IGYesIG is great for all level of experience traders. IG stands on strong background and is publically traded company (while most brokers are just brokers), its offering is very comprehensive with competitive trading conditions, great education, trading platforms and low costs.Visit IG site

IG Review
CMC Markets YesCMC Markets might be the best fit if you are looking for a great Web platform. CMC Markets offers web, iOS and Android versions packed with tools and has good range of Currency pairs.Visit CMC Markets site

CMC Markets review
Forex.comYesForex.com should be good for traders using MetaTrader platform. Forex.com has both MT4 and MT5 plus provide extra tools like VPS and analysis, also Forex.com is a part of a large financial holding with a good standing.Visit Forex.com site  

Forex.com Review
DukascopyNoLooking for ECN account, Dukascopy might be your option. Dukascopy is one of the largest online Switzerland banks with great security and advanced proposal. It is one of the best for ECN accounts and transparency, plus customer service is excellent.Visit Dukascopy site  

Dukascopy Review
FXCMNoFXCM can be the best for scalpers or daytraders. FXCM has low minimum deposit requirement, only 50$ compared to industry average of 100$, and there are various platforms supported including great for technical analysis TradeStation, copy platform ZuluTrade and NinjaTrader.Visit FXCM site  

FXCM Review
AvaTradeNoAvaTrade might be good for Currency trading. Traders can choose between various platforms and numerous currency pairs including exotic ones, costs are good 0.9 pips for EURUSD lower than industry average of 1.2 pipsVisit AvaTrade site

AvaTrade Review

More on Canada Brokers

To get you started, we answer many common questions, also it is good to navigate categories and select broker that offer your trading requirements.

Top ECN Forex Brokers Canada

ECN Forex Brokers in Canada offering ECN trading environment that is performed via the bridging technology matching trades automatically to the markets, which is alike No Dealing Desk Forex Brokers. You can check ECN account by Dukascopy.

Forex Leverage in Canada

Leverage in Canada for Forex instruments is limited to 1:50 available for major currency pairs, InteractiveBrokers Forex Leverage offering this ratios for Canadian traders even being one of the US Forex Brokers.

Canada NinjaTrader Forex Brokers

NinjaTrader is a great platform with powerful technical analysis and charting tools, it also support automatic trading and various order types. Canada Brokers offering NinjaTraders are not so many, you can check FXCM.

Canada Forex Options Brokers

Options and Forex Brokers with Binary Options are typically banned due to highest risks by most of world authorities and typically offered only by offshore or unregulated brokers.

Institutional Forex Brokers in Canada

Institutional Forex brokers offering Forex trading service for Institutions and are typically biggest Forex Brokers in the world also with fully regulated international entities. One of the best Brokers for institutions in Canada is InteractiveBrokers.

Author of this review

By Jimmy O'Brien

Author of this review

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

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