Forex Brokers in Canada

Trading Currencies or Forex trading and investment has become a widely popular activity for Canadian residents and is a quite oper opportunity for almost every Canadian resident to engage.

Forex Trading Platform in Canada

Forex Trading is a legal activity for Canadian residents, so choosing Forex Trading Platform for Canada is a matter to find Good Forex Broker suitable for your trading need.

  • Fortunately, when it comes to choosing a broker Canadian traders have plenty of options from around the world and are able to choose almost any Broker Internationally.
  • Nevertheless, safety remains an issue as picking only regulated brokers is essential in protecting your investments from offshore fraud.
  • Forex Brokers and Platforms who run entities in Canada and offering their services must be regulated and must obtain IIROC license to be able to operate in Canada. Read our IIROC article
Canada Trading ProsCanada Trading Cons
Regulated by Top-tier IIROCOnly Few Brokers regulated by IIROC
Good safety and Clients protectionNo Negative Balance Protection
Canadian Traders can open account almost with any other Broker WorldwideNo Compensation Scheme
No restrictions on marketsMany offshore and unsafe Brokers attract Canada traders
Opportunity to use different trading strategies
Up to 50:1 leverage

Canadian Forex Brokers Regulation

The rise in popularity of online trading has brought demand for regulation in Canada. To protect traders, the government quickly established parameters governing Forex and Contract For Difference (CFD) brokers which account for volatility within these high-risk activities.

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 are established through IIROC – Investment Industry Regulatory Organization of Canada. 

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

  • Canadian law structure may have 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 accounts with international brokers in Europe, the US or mainly elsewhere, for this reason, there aren’t many brokers based in Canada

Canada IIROC Website

Top 5 Best Forex Brokers Canada

Our Financial Experts have compiled a list of the best Canadian Forex Brokers or Brokers that accept Canadian residents. Each has been thoroughly examined and scored, so trading with any of them will give you peace of mind that your funds are in safe hands:

  • HFM – Best Overall Broker for Canada 2023
  • BlackBull Markets – Lowest Spread Broker for Canada 2023
  • FP Markets – Best MT4 Broker for Canada 2023
  • Eightcap – Best Broker for Beginners Canada 2023
  • BDSwiss – Best for Scalping and EA Trading 2023

How to trade Forex in Canada?

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

Forex Broker in Canada List

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

Broker Detail
Min. Deposit: 0 US$
Max. Leverage: 1:30 | 1:2000
Trading Platforms: MT4, MT5, HFM Trading App
Regulation: CySEC, FCA, DFSA, FSCA, FSA, CMA
HFM Review
BlackBull Markets logo BlackBull Markets
Min. Deposit: 0 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5
Regulation: FMA, FSA
BlackBull Markets Review
FPM logo FP Markets
Min. Deposit: 100 US$
Max. Leverage: 1:30
Trading Platforms: IRESS, MT4, MT5, cTrader
Regulation: ASIC, CySEC, St. Vincent and the Grenadines, FSP
FP Markets Review
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, TradingView
Regulation: ASIC, SCB, CySEC, FCA
Eightcap Review
BDSwiss Review BDSwiss
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, BDSwiss Webtrader and App
Regulation: FSC, FSA
BDSwiss Review
GO Markets
Min. Deposit: 0 US$
Max. Leverage: 1:30, 1:500
Trading Platforms: MT4, MT5, cTrader, WebTrader
Regulation: ASIC, CySEC, FSC, FSA
GO Markets Review
Min. Deposit: $20
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4, MT5, HYCM Trader
Regulation: FCA, CySEC, DFSA, CIMA
HYCM Review
Pepperstone Review Pepperstone
Min. Deposit: 200 US$
Max. Leverage: 1:30 to 1:400
Trading Platforms: MT4, MT5, cTrader, TradingView
Pepperstone Review
avatrade review AvaTrade
Min. Deposit: $100
Max. Leverage: 1:30 | 1:400
Trading Platforms: MT4, MT5, WebTrader, AvatradeGO, AvaOptions, DupliTrade, ZuluTrade, AvaSocial,
Regulation: Bank of Ireland, ASIC, JFSA, FSCA, CySEC, BVI FSC, FRSA, ISA
AvaTrade Review
Vantage FX Review Vantage Markets
Min. Deposit: $50
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, Protrader, WebTrader, Vantage app, Copy trading platforms
Regulation: FSCA, VFSC, ASIC, FCA
Vantage Markets Review