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Table Of Contents
We have reviewed numerous forex brokers, there are 5 brokers which have met our quality guidelines and accept residents of Canada. We recommend the following:
Questrade is hands down our top choice for Canadian residents, and the reason for this is it’s a great platform that is based out of Canada and that offers forex trading, as well as stocks and CFDs. This is the only forex broker on our list that is headquartered in Canada. They are well-regulated and Questrade, Inc. is a registered investment dealer, a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF).
Along with the ability to trade Canadian markets, you will have access to stocks on the NYSE, NASDAQ, and other US and international exchanges with ETFs, Bonds, Mutual Funds, and more all available to trade through the IQ Web and IQ Edge web-based trading platforms which both run well and are complemented with a wide selection of charting and analysis tools.
Together with these basic features, this Canadian-Only broker has a decent educational offering and a number of unique and insightful tools when it comes to research. These include access to the third-party Market Intelligence tool helping you gather as much data as possible on your potential trades.
Trading Costs: For a well regulated platform the forex costs are quite reasonable, with spreads as low as 0.8 pips.
If you are interested in stock trading this broker has two competitive pricing structures with most traders fitting under their Questrade Democratic pricing plan which is $0.01 per share with a $4.95 minimum, and $9.95 maximum. Options trades are $9.95 + $1 per contract, while ETFs are commission-free.
You can visit Questrade directly to get started or for any more information you may need.
Founded in 2016, Capital.com is one of the largest forex & CFD brokers that caters to residents of Canada. It operates an international trading platform with more than 788,000 clients, over $100m in deposits and has seen a trading volume of $88bn. Its offices are located in London, Gibraltar, Limassol and Minsk.
Aiming to make the world of investments more engaging and accessible, Capital.com has built an advanced yet user-friendly financial platform that suits both professionals and novices alike. From educational materials and straightforward charts to a wide range of advanced technical indicators and drawing tools – Capital.com covers the needs of every trader.
Authorised and regulated by the world’s top financial watchdogs, Capital.com is the place to trade the most popular and liquid assets, including equities, indices, forex, commodities and cryptocurrencies.
Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Transactions with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. The size of the potential loss is limited to the size of the deposit. Past profits do not guarantee future profits. Use Capital.com’s training services to understand the risks before you start operations.
AvaTrade is able to offer trading opportunities to Canadian residents due their Collaboration with Friedberg Direct in Canada. The well known dealer Friedberg Mercantile Group Ltd. Friedberg Direct has licensed the AvaTrade Technology in order to offer AvaTrade platforms to Canadian residents.
While they were founded in 2006 in Ireland, they have since grown to become one of the top forex brokers in the sector offering services around the world.
A low minimum deposit requirement of just $100 across most of the available account types, coupled with respected regulation from a number of bodies worldwide, make AvaTrade a popular choice for new and experienced Canadian traders.
The broker offers an extensive range of assets to trade in which includes more than 60 currency pairs, and other markets for trading stocks, ETFs, crypto, and more. AvaTrade users can also avail of a very strong range of educational content with insightful material to fit all level of traders.
Warning: Trading Forex/CFD & Options on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite.
BD Swiss founded in 2012. Since that time they have grown to become a major forex broker who now offer trading services in more than 180 countries worldwide. They are also have regulatory oversight in place from a number of trusted bodies in the industry. BDSwiss LLC is authorised and registered with the U.S. National Futures Association NFA ID: 0486419, other regulatory bodies they abide by include CySEC.
BDSwiss is also a very well-decorated broker having collected a number of awards particularly in recent years as they have expanded their industry presence. Being recognized as providing one of the best trading platform applications, as well as for their positive trading conditions and environment has helped them greatly in continuing to improve their profile among traders.
Warning: Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose.
Forex.com is one of the most longstanding brokers in the industry. They are a member of the Investment Industry Regulatory Organization of Canada (IIROC)
They have been providing access to the forex market for traders since 2001. They now operate on a worldwide scale providing service to traders in more than 150 countries. They are also one of the few major forex brokers to offer services to US-based traders.
To match their worldwide service availability, the broker is also regulated by numerous top-tier regulatory bodies including some of the most respected in the industry. There is trusted regulation in place in both the US and Canada too which helps protect traders based there. The brokers reputation for transparency and trust, combined with a strong product offering and excellent trading costs, put it in prime position at the head of a very competitive sector.
Warning: Forex trading involves significant risk of loss and is not suitable for all investors.
What is the IIROC?
This stands for: Investment Industry Regulatory Organization of Canada
The Investment Industry Regulatory Organization of Canada is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
This is a Federal regulatory body, this regulations oversees deals in all Canadian provinces.
Do these brokers accept clients from Canada?
While we feature many forex brokers on this website, only the brokers featured on this page currently accept clients from Canada. There are no national restrictions in place for individual Canadian provinces (Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec, and Saskatchewan.)
Why are there only 5 Canadian Brokers?
In an effort to protect Canadians, the Canadian Federal Government has enacted one of the strictest regulatory bodies in the world when it comes to offering investment platforms that target Canadian residents. The standards for international firms to offer forex type services are very strict. Due to the small population size of the country, most opt to simply avoid the expense of doing business in Canada.