Canadian Forex Review: C$ Firms

This is how most brokers earn their revenue, especially those offering commission-free accounts. All CIRO-regulated brokers must clearly state their regulatory status on their website. Canadian brokers regulated by CIRO should clearly state their regulatory status and registration—typically in the website footer or “About Us” section.

Best Trading App

Get ready to stay ahead of the curve with our regular updates designed to help you make informed trading decisions. Don’t miss out on our weekly newsletter to further enhance your trading success. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Compare fees, and features—trade smarter with expert insights!

• The broker offers plenty of articles, courses, and videos that delve deep into essential trading concepts such as technical analysis, fundamental analysis, risk management, and the psychology of trading.
• The most frequently asked questions about Forex trading in Canada, including regulation, trading times, and how to place a trade.
• We found that AvaTrade’s forex trading fees were better than the industry average with spreads on EUR/USD during the London session less than 1.0 pip on average.
• Check out our dedicated guides on best MT4 brokers and best MT5 brokers.
• Many now also offer CAD-denominated accounts, helping you avoid conversion fees when funding from a Canadian bank.

Are the profits I make on forex taxable in Canada?

Before you deposit any money with a Forex or CFD broker in Canada, it’s vital to confirm that they’re fully authorized by the Canadian Investment Regulatory Organization (CIRO). Because they are not accountable to CIRO or your provincial securities regulator, there’s no authority to intervene on your behalf. They can manipulate prices, delay trades, or refuse to pay out profits. If the broker refuses withdrawals or shuts down, you have no legal recourse in Canada. If the broker fails, your funds are protected up to a certain limit. Anyone offering financial advice, portfolio management, or dealing in derivatives such as Forex contracts must meet licensing and compliance obligations under this framework.

Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape. If you want to know what the platform is like, you can watch our 24-hour test as we trade live and even bank some profits.

Best IIROC-Regulated Broker

In an effort to protect Canadians, the Canadian Federal Government has enacted one of the strictest regulatory bodies in the world regarding investment platforms that target Canadian residents. The Investment Industry Regulatory Organization of Canada is the national self-regulatory organization that oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Being recognized as providing one of the best trading platform applications and for their positive trading conditions and environment has helped them greatly in continuing to improve their profile among traders.

IFC Markets

60-90% of retail traders lose money trading Forex and CFDs. If you’re new to Forex trading, your priorities will be different from those of experienced traders. Fee structures vary by broker, account type, and platform, subject to strict CIRO rules. Leverage at regulated Canadian brokers is capped to reduce the risk of extreme losses.

Forex Trading – A Beginner’s Guide

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. Alongside the desktop platforms, the MetaTrader WebTrader platform is available and can be accessed within your browser without needing a download. The broker also provides copy trading services through their Fusion+ copy trading platform, which is very intuitive and user-friendly.

Canada is becoming the next hot destination for regulated brokers wanting to expand in North America. After testing 80 brokers this year, our experts have identified the 8 best options tailored to diverse trading needs, complete with practical tips. Securities.io is not a registered broker, analyst, or investment advisor. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies. 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.

Plamen’s broad experience has equipped him with the expertise to recommend the best forex brokers. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers. These include market analysis, live trading events, and broker reviews. Later, Dan gained insight into the forex industry during his time as a Series 3 licensed futures and forex broker. With the increasing popularity of retail trading in Canada, it is essential to be cautious of brokers that target Canadian residents but lack proper regulation. In addition, it is recommended to explore the broker’s proprietary trading platform, as they often offer advanced features such as sentiment indicators, real-time news, and trading ideas.

Best For: Passive traders & those seeking fixed spreads

OANDA is regulated by Tier 1 authorities all around the world such as the FCA, CySEC, ASIC, and many others. OANDA was founded in 1996 and provides a great range of trading services and products for retail clients and businesses converting large amounts of currencies. Canadian clients can choose between four account types, including Standard STP, Raw ECN, Cent Standard, and canadian forex review Cent Raw.

• You get a range of platforms—proprietary Desktop, webtrader, MT4/5 and TradingView—for trading forex, indices, commodities and over 4,500 CFDs.
• Founded in 2005 and headquartered in Dubai, MultiBank offers Canadian traders access to more than 14,200 tradable instruments, a sophisticated trading platform, and powerful trading tools.
• In fact, this document legalized Canadian residents’ access to leveraged forex and CFD products.
• The forex market is open to participants from around the world, including individuals who are not Canadian citizens or residents.

Our team of experts has identified brokers’ strengths and weaknesses using FXEmpire’s comprehensive methodology. In fact, this document legalized Canadian residents’ access to leveraged forex and CFD products. The standards for international firms offering forex-type services are very strict. This is a Federal regulatory body, this regulations oversees deals in all Canadian provinces.

They are also have regulatory oversight in place from a number of trusted bodies in the industry. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. AvaTrade users can also avail of a very strong range of educational content with insightful material to fit all level of traders. Friedberg Direct has licensed the AvaTrade Technology in order to offer AvaTrade platforms to Canadian residents. Most traders fit under their Questrade Democratic pricing plan, which is $0.01 per share with a $4.95 minimum and $9.95 maximum. If you are interested in stock trading, this broker has two competitive pricing structures.

The platform shines with integrated Performance Analytics, extensive educational modules, and third-party research, making it our top all-rounder. This means that when you click through from us to a provider and open an account we may receive a payment. See what customers and industry experts think of providers with our reviews and rankings

The Canadian Investment Regulatory Organization (CIRO) enforces strict rules on forex and CFD trading, ensuring that Canadian traders have a safer and more transparent trading environment. Below, you’ll find the best forex brokers for 2025—thoroughly tested, verified, and ranked, so you can trade with confidence. Alison Heyerdahl is the Head of Content at FxScouts and a financial writer with extensive experience in Forex trading, broker analysis, and market research.

Best Low Spreads

Additionally, I found that traders have access to multiple platforms such as MT4, TradingView, and the broker’s comprehensive desktop, web, and mobile trading platform. 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. Forex trading in 2025 continues to gain traction in Canada as more traders enter the global market.This page features the best Forex brokers in 2025 for Canadian residents, ranked by real Myfxbook users.

FP Markets was founded in 2005 in Sydney, Australia, and allows trading of over 840 instruments from an ECN trading account using MT4, MT5, and cTrader platforms. We found that AvaTrade’s forex trading fees were better than the industry average with spreads on EUR/USD during the London session less than 1.0 pip on average. It offers Canadian traders access to over 850 CFD instruments that can be traded via MetaTrader 4, MetaTrader 5, and PU Prime mobile apps. Also, MultiBank provides FIX API solutions for Direct Market Access (DMA) trading so that traders can obtain raw spreads directly from an exchange’s order books. The MultiBank App is also integrated with advanced market analytics so that traders can make informed trading decisions on the go. MultiBank is a rapidly growing financial derivatives broker catering to traders from different backgrounds with its comprehensive offering and fair prices.

Canada is somewhat limited in the number of forex brokers that can be used relative to other areas of the globe, like the U.K. It uses MT4, supports zero-deposit accounts, and includes free VPS for automated trading. You can trade over 650 instruments, enjoy micro-lot accounts and Islamic account options, and benefit from low minimum deposit requirements.