Forex Brokers in Canada

Trading Currencies or Forex trading and investment is quite popular among Canadian residents, while Canadian traders are not limited in their choices and able to choose mostly any broker from around the world. However, this is where concerns about safe trading environment come, so you need to choose only forex regulated brokers and avoid offshore brokers

Canadian Forex Brokers Regulation

Canadian Forex Brokers that operate in Canada or accept Canadian residents should be registered before it starts any operation within Canada, while the regulation and authorization of the trading companies established through IIROC – Investment Industry Regulatory Organization of Canada. 

Check IIROC Website: www.iiroc.ca also we recommend following IIROC Twitter for the most recent updates, @IIROCinfo and @FINTRAC_Canada.

  • Canadian law structure may diverse regulation requirements according to the region that affects both brokers incorporated in Canada and Traders too
  • IIROC is among the strictest financial authorities as it sharply controls operations, protecting clients and heavily fining unregulated firms (Check unregulated forex brokers complete list) and controlling proposals. Read more about IIROC via Wikipedia.
  • IIROC cooperates with one of the world-leading organizations Canadian Investor Protection Fund (CIPF) which compensates investors in case of the broker’s insolvency issue.
  • Since Canadian traders are allowed to open account with international brokers in Europe, US or mainly elsewhere, for this reason there arent many brokers based in Canada

Canada IIROC website

Best Forex Brokers Canada

Looking for the best Forex broker in Canada may be a tricky task as you should consider all the trading proposals and find conditions suitable for your trading style. Below you will find a listing we made to assist selection with the Best Reviewed Brokers offering regulated and good quality trading:

  • BDSwiss – Best Overall Broker in Canada 2022
  • BlackBull Markets – Lowest Spread Broker in Canada 2022
  • FP Markets – Best MT4 Broker in Canada 2022
  • Pepperstone – Best Broker for Beginners in Canada 2022
  • HFM – Best for Scalping and EA Trading 2022

How to trade Forex in Canada?

Trading Forex in Canada isn’t complicated, trader should select a broker, while Canadian Traders can open trading account almost with every international broker, then deposit funds and trade Forex.

Forex Broker in Canada List

These are the regulated brokers that accept clients from Canada, while only some of them are based in Canada:

Broker Detail
HFM
Min. Deposit: 5 US$
Max. Leverage: 1:30 | 1:1000
Trading Platforms: MT4, MT5
Regulation: CySEC, FCA, DFSA, FSCA, FSA, CMA
1
HFM Review
BlackBull Markets logo BlackBull Markets
Min. Deposit: 0 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5
Regulation: FMA, FSA
2
BlackBull Markets Review
FPM logo FP Markets
Min. Deposit: 100 US$
Max. Leverage: 1:30
Trading Platforms: IRESS, MT4, MT5
Regulation: ASIC, CySEC, St. Vincent and the Grenadines
3
FP Markets Review
Pepperstone Review Pepperstone
Min. Deposit: 200 US$
Max. Leverage: 1:30 to 1:400
Trading Platforms: MT4, MT5, cTrader, TradingView
Regulation: ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN
4
Pepperstone Review
BDSwiss Review BDSwiss
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, BDSwiss Webtrader and App
Regulation: FSC, FSA
5
BDSwiss Review
Axiory
Min. Deposit: 10 US$
Max. Leverage: 1:777
Trading Platforms: MT4, MT5, cTrader
Regulation: FSC
Axiory Review
FBS
Min. Deposit: 1 USD
Max. Leverage: 1:3000
Trading Platforms: MT4, MT5, FBS trader
Regulation: CySEC, FSC, FSCA, ASIC
FBS Review
Eightcap
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, TradingView
Regulation: ASIC, SCB
Eightcap Review
OANDA US
Min. Deposit: No minimum deposit
Max. Leverage: 1:50
Trading Platforms: MT4, fxTrade Mobile, TradingView
Regulation: NFA, CFTC
OANDA US Review
IC Markets
Min. Deposit: 200 US$
Max. Leverage: 1:30 | 1:500
Trading Platforms: cTrader, MT4, MT5
Regulation: ASIC, CySEC, FSA
IC Markets Review