9 Best Forex Brokers in Canada 2025

最后更新于：2025-09-25 17:37:06

Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. To open an account with AvaTrade, start by completing the online registration form, where you provide personal details and set up your login credentials. The process then requires you to verify your identity by uploading a government-issued photo ID and proof of address (such as a recent utility bill or bank statement). A brief regulatory questionnaire will assess your trading experience and financial suitability, in line with Canadian KYC and AML regulations. Once all sections are complete and documents are uploaded, AvaTrade’s compliance team reviews your application—this usually takes from a few hours up to 1–2 business days.

About CIRO (previously known as IIROC)

The Advanced Trading platform features advanced order types, deep customization, and plenty of subtle-but-useful features – such as the ability to set price tolerance from within the trade ticket. For the sake of comparison, I found the Advanced Trading platform similar to FXCM’s own impressive proprietary platform. Overall, FOREX.com’s mobile offering competes among the best brokers in the industry for top mobile app. Our researchers open personal brokerage accounts and test all available platforms on desktop, web, and mobile for each broker reviewed on ForexBrokers.com.

Lowest Spread & Trading Fees in Canada

Finally, match the broker’s details with the information provided by the CIRO regulator. Interactive Brokers operates as CIRO-authorized Interactive Brokers Canada Inc. Interactive Brokers supports CAD accounts and allows transactions in 23 currencies.

• Forward contracts are a great way to protect the customer from fluctuations in exchange rates.
• The execution speed can determine the price your order will be executed at.
• You can also trade minor and exotic FX crosses as a spread bet or trade CFD.
• Yes, FXCM offers free demo accounts loaded with virtual funds (e.g., $20,000 or more).
• As a CIRO-regulated broker, it is required to ensure that clients cannot lose more than the funds in their trading accounts, safeguarding them from incurring debt due to market volatility.

Money Transfer Comparison

This means EAs can find signals, execute the trade, and manage risk, according to your needs. A MetaTrader 4 broker is any broker that provides its clients with the MT4 platform, developed by MetaQuotes Software in 2005. Instead, your trading is regulated by the Securities Commission of the Bahamas (SCB). If you’re a high-volume trader, I’d say this Raw account is going to work out cheaper, even after the commission. This allows me to find divergences between markets, and makes it easier to trade directly off the chart.

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However, the policy is updated now and again to make sure that fraudulent behaviour is kept to a minimum. It also boasts 180 currency pairs, one of the widest ranges available on the FX market. However, Interactive Brokers does offer a slightly wider range of assets all in all. Aside from the Protection Fund, Canadian brokers are not restricted as to what they can offer customers, by regulators. For example, brokers in the U.S must comply with certain restrictions enforced by the NFA and the CFTC, including a restricted leverage.

• The additional utilities allow you to trade more efficiently, so you can focus on trading and finding new ideas instead of doing your account admin.
• The following table summarizes the different investment products available to FOREX.com clients.
• The lower the commission fee per trade, the lower your overall trading costs can be in the long term.
• AvaTrade offers the best fixed spreads for day trading, which is why it’s our top pick.

For a more exhaustive list of Forex.com pros and cons, check out our in-depth FOREX.com review. In addition, the company offers a powerful proprietary platform and spreads from as low as 0.7 pips, but where CMC Markets really stands is through its education. TD Ameritrade scores high with its customer service, offering helpful, efficient guidance at all times. The friendly team offers help on the Mobile Trader app, and its Ast Ted bot offers quick answers to hard questions. Nonetheless, a couple quality, mainstream FX brokers have set up office in Canada. This means traders can utilize the protection offered by regulators in Canada, in addition to benefiting from the expertise that an international broker can bring to a trader.

Generally speaking, each country has an overseeing agency that enforces Forex regulations based on the country’s rules. The US forex market, for example, is regulated by the CFTC, while the UK is regulated by the FCA. The global nature of the market allows Canadian traders to trade the American dollar (USD) and Euro (EUR) through a british broker, for example. All trading activity is subject to CRA guidelines, and traders should keep detailed records of trades, profits, losses, and expenses to ensure compliance with Canadian tax laws. Consulting a tax professional is highly recommended for accurate reporting. Forex trading taxes in Canada are treated as either capital gains for occasional or secondary activity traders, or business income if trading is done frequently or as a primary source of income.

Alternatively, if you want to trade with volatility, you can use the American-style AvaOptions on forex and gold markets as another day trading product. I think Fusion Markets will appeal to a broad range of traders, mainly due to their lower trading costs. Another attractive feature is the availability of copy trading services through MT4 with DupliTrade. Our analyst also ran tests with Fusion Markets and 14 other Canadian ECN brokers to find which ones had the lowest spreads using the IceFX SpreadMonitor tool on his MT4 platform. In his tests, Fusion Markets produced some of the tightest spreads with EUR/USD averaging 0.16 pips, beating the industry-tested average by 40%. For markets other than crypto, Eightcap offers a solid choice of 55 forex pairs, 150 share CFDs, 10 commodities (soft and metals), and 15 indices.

Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). The products and services available to you at FOREX.com will depend on your location, and on which of its regulated entities holds your account. For example, while CFDs are not available in the U.S. due to regulatory issues, FOREX.com offers an impressive selection of over 4,500 CFDs for traders living outside of the U.S. FOREX.com offers CFDs for commodities and metals, though spot metals (like gold and silver) are unavailable to traders in the U.S.

You can comfortably trade on the foreign exchange in Canada as long as your broker is under the jurisdiction of CIRO. You can verify that a canadian forex review broker is CIRO-regulated by checking the broker’s website. Alternatively, you can go to the CIRO website and search for your broker registration number. One of the EAs that stood out for us was the Mini terminal, which improves the order management of MT4 and one-click trading. We like that you can set your trade sizes, stop loss, and take profit orders in the Mini terminal, automatically executing all the orders with the one-click trading feature.

We recommend FOREX.com as a top CIRO broker for its solid all-around offering. In our tests, it scored 60/100, showing strength in key areas like trading platforms and markets available. Client protection is paramount when it comes to Forex market regulation, not just in Canada, but around the world with top-tier regulators like the FCA in the UK and ASIC in Australia.