The Canadian regulatory body has legalized forex and CFD trading in the country in 2019. Yet, many international brokers have already started accepting Canadian clients. We have carefully vetted top 10 forex brokers for Canadian brokers based on factors like regulations, leverage, fees, support, trading platform, features, and more.
Best Forex Brokers in Canada
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24/7 instant money withdrawal
Affiliate Program
Pros
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NeoMarkets is praised for its user-friendly approach, making it accessible and straightforward for novice and experienced traders to navigate the platform.
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NeoMarkets allows trading cryptocurrencies through CFDs at competitive costs, providing traders with exposure to this popular asset class.
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NeoMarkets is regulated by the Financial Services Commission (FSC) in Mauritius, adding an element of oversight and security for its clients.
Cons
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NeoMarkets has a limited selection of deposit and withdrawal methods, potentially inconveniencing clients who prefer a broader range of options.
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To access the demo account, users must first complete the registration process, which might deter those who prefer exploring the platform before committing.
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NeoMarkets’ website lacks readily available information about its various account types, potentially making it challenging for traders to select the most suitable option.
Withdrawal fee
$0 (conditions apply)
Deposit fee
4.8
Max leverage
1:500
Min deposit
$20
Top Regulators
FIU
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24/7 instant money withdrawal
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Affiliate Program
Pros
-
NeoMarkets is praised for its user-friendly approach, making it accessible and straightforward for novice and experienced traders to navigate the platform.
-
NeoMarkets allows trading cryptocurrencies through CFDs at competitive costs, providing traders with exposure to this popular asset class.
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NeoMarkets is regulated by the Financial Services Commission (FSC) in Mauritius, adding an element of oversight and security for its clients.
Cons
-
NeoMarkets has a limited selection of deposit and withdrawal methods, potentially inconveniencing clients who prefer a broader range of options.
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To access the demo account, users must first complete the registration process, which might deter those who prefer exploring the platform before committing.
-
NeoMarkets’ website lacks readily available information about its various account types, potentially making it challenging for traders to select the most suitable option.
- Withdrawal fee$0 (conditions apply)
- Deposit fee$0
- Max Leverage1:500
2
Specialized trading accounts
Tight Spreads
Low commissions
Pros
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Provides trading aids and resources such as risk depth, spread monitoring, and risk calculator.
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Offers low average spreads and competitive pricing for all account types.
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Provides plugins for third-party research and trading tools.
Cons
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Limited product offerings.
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No investor protection for traders outside the European Union.
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No weekend trading, extra bonuses or promos.
Withdrawal fee
$0
Deposit fee
4.6
Max leverage
1:500
Min deposit
$200
Top Regulators
ASIC, CySEC
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Specialized trading accounts
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Tight Spreads
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Low commissions
Pros
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Provides trading aids and resources such as risk depth, spread monitoring, and risk calculator.
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Offers low average spreads and competitive pricing for all account types.
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Provides plugins for third-party research and trading tools.
Cons
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Limited product offerings.
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No investor protection for traders outside the European Union.
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No weekend trading, extra bonuses or promos.
- Withdrawal fee$0
- Deposit fee$0
- Max Leverage1:500
24/7 Multilingual Customer Service
Proprietary Copy Trading App
Pros
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Wide Range of Account Types: PU Prime provides a variety of account types designed to suit different trading styles and experience levels, from beginners to advanced traders.
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Great Leverage: Control larger positions using minimal capital, thanks to leverage of up to 1:1000. This allows you to maximize opportunities in the market but remember, while higher leverage can enhance potential gains, it also increases risk.
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24/7 Multi Channel Support: Round-the-clock assistance is provided by PU Prime through multiple channels, including live chat, email, and phone support. Services are offered in 18 languages, ensuring accessibility for a diverse range of traders.
Cons
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Slightly Higher Spreads: For no-commission accounts, spreads starting at 1.3 pips are slightly higher than the industry average.
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High Minimum Deposit: High minimum deposit for the low-spread and commission-based accounts
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No EU Regulations: Despite being regulated by 4 authorities, including top-tier ASIC, the broker does not offer dedicated EU regulation for European clients.
Withdrawal fee
no withdrawal fee*
Deposit fee
4.1
Max leverage
1:1000
Min deposit
$20
Top Regulators
Yes
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24/7 Multilingual Customer Service
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Proprietary Copy Trading App
Pros
-
Wide Range of Account Types: PU Prime provides a variety of account types designed to suit different trading styles and experience levels, from beginners to advanced traders.
-
Great Leverage: Control larger positions using minimal capital, thanks to leverage of up to 1:1000. This allows you to maximize opportunities in the market but remember, while higher leverage can enhance potential gains, it also increases risk.
-
24/7 Multi Channel Support: Round-the-clock assistance is provided by PU Prime through multiple channels, including live chat, email, and phone support. Services are offered in 18 languages, ensuring accessibility for a diverse range of traders.
Cons
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Slightly Higher Spreads: For no-commission accounts, spreads starting at 1.3 pips are slightly higher than the industry average.
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High Minimum Deposit: High minimum deposit for the low-spread and commission-based accounts
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No EU Regulations: Despite being regulated by 4 authorities, including top-tier ASIC, the broker does not offer dedicated EU regulation for European clients.
- Withdrawal feeno withdrawal fee*
- Deposit feeNo deposit fee*
- Max Leverage1:1000
Rating
4.6
/ 5
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Start trading
76-77% of retail investor accounts lose money when trading CFDs with this provider.
Specialized trading accounts
24/7 instant money withdrawal
Pros
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Top-Tier Regulation
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Low Forex Fees
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No Withdrawal Fees
Cons
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High Stock CFD Fees
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Limited Product Portfolio
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User Interface Could Be More Intuitive
Withdrawal fee
$0
Deposit fee
4.2
Max leverage
1:50
Min deposit
100$
Top Regulators
FCA, CFTC, NFA, CIRO, CIMA, CYSEC
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Specialized trading accounts
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24/7 instant money withdrawal
Pros
-
Top-Tier Regulation
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Low Forex Fees
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No Withdrawal Fees
Cons
-
High Stock CFD Fees
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Limited Product Portfolio
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User Interface Could Be More Intuitive
- Withdrawal fee$0
- Deposit fee$0
- Max Leverage1:50
Start trading
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76-77% of retail investor accounts lose money when trading CFDs with this provider.
Exceptional Execution
US Clients
Scalping
Pros
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OANDA is among the few international online forex brokers that accept U.S. clients.
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The broker’s trading platforms are unique with features of various valuable tools and resources, including the famous Dow Jones Forex Select news and trading calculators.
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OANDA does not require a fixed initial deposit on the standard account.
Cons
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OANDA’s financial offerings have some irregularities that may only suit some traders
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-Trading on OANDA may incur several fees, including a monthly inactivity fee
Withdrawal fee
N/A
Deposit fee
4
Max leverage
1:50
Min deposit
N/A
Top Regulators
CFTC, NFA
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5
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Exceptional Execution
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US Clients
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Scalping
Pros
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OANDA is among the few international online forex brokers that accept U.S. clients.
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The broker’s trading platforms are unique with features of various valuable tools and resources, including the famous Dow Jones Forex Select news and trading calculators.
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OANDA does not require a fixed initial deposit on the standard account.
Cons
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OANDA’s financial offerings have some irregularities that may only suit some traders
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-Trading on OANDA may incur several fees, including a monthly inactivity fee
- Withdrawal feeN/A
- Deposit feeN/A
- Max Leverage1:50
Free VPS hosting
Specialized trading accounts
Pros
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Excellent customer support with 24/7 availability
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Competitive spreads and fast execution speeds
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Comprehensive educational resources including webinars and video tutorials
Cons
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Limited range of tradable assets compared to some competitors
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Higher minimum deposit for certain account types
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No proprietary mobile app (relies on MT4/cTrader mobile)
Withdrawal fee
$0
Deposit fee
4.6
Max leverage
1:500
Min deposit
$50
Top Regulators
ASIC, CYSEC
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Free VPS hosting
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Specialized trading accounts
Pros
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Excellent customer support with 24/7 availability
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Competitive spreads and fast execution speeds
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Comprehensive educational resources including webinars and video tutorials
Cons
-
Limited range of tradable assets compared to some competitors
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Higher minimum deposit for certain account types
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No proprietary mobile app (relies on MT4/cTrader mobile)
- Withdrawal fee$0
- Deposit fee$0
- Max Leverage1:500
Specialized trading accounts
Free VPS hosting
24/7 instant money withdrawal
Pros
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24-hour support
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Supports MetaTrader 4 and MetaTrader 5 and their mobile and web versions
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Variety of deposit/withdrawal methods
Cons
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VPS is not free of charge
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A limited selection of tradable instruments
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Unavailable to US retail clients
Withdrawal fee
N/A
Deposit fee
4.8
Max leverage
N/A
Min deposit
N/A
Top Regulators
CYSEC
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Specialized trading accounts
-
Free VPS hosting
-
24/7 instant money withdrawal
Pros
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24-hour support
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Supports MetaTrader 4 and MetaTrader 5 and their mobile and web versions
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Variety of deposit/withdrawal methods
Cons
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VPS is not free of charge
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A limited selection of tradable instruments
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Unavailable to US retail clients
- Withdrawal feeN/A
- Deposit feeN/A
- Max LeverageN/A
Specialized trading accounts
Free VPS hosting
Pros
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High Leverage Options
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Wide Range of Tradable Assets
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Many Accounts to Choose From
Cons
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Offshore Regulation
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Limited Educational Resources
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Limited Availability in Some Countries
Withdrawal fee
N/A
Deposit fee
4.8
Max leverage
N/A
Min deposit
N/A
Top Regulators
FSA
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8
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Specialized trading accounts
-
Free VPS hosting
Pros
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High Leverage Options
-
Wide Range of Tradable Assets
-
Many Accounts to Choose From
Cons
-
Offshore Regulation
-
Limited Educational Resources
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Limited Availability in Some Countries
- Withdrawal feeN/A
- Deposit feeN/A
- Max LeverageN/A
Specialized trading accounts
24/7 instant money withdrawal
Pros
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Strong Regulatory Oversight
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Several Trading Platforms Offered
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Several Account Options
Cons
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Variable Spreads on Starter Account
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High Minimum Deposits for Premium and Ultimate Accounts
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Some Users Reported Withdrawal Issues
Withdrawal fee
N/A
Deposit fee
4.2
Max leverage
N/A
Min deposit
N/A
Top Regulators
CYSEC
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9
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-
Specialized trading accounts
-
24/7 instant money withdrawal
Pros
-
Strong Regulatory Oversight
-
Several Trading Platforms Offered
-
Several Account Options
Cons
-
Variable Spreads on Starter Account
-
High Minimum Deposits for Premium and Ultimate Accounts
-
Some Users Reported Withdrawal Issues
- Withdrawal feeN/A
- Deposit feeN/A
- Max LeverageN/A
Free VPS hosting
Specialized trading accounts
24/7 instant money withdrawal
Pros
-
Highly Regulated and Trustworthy
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Excellent Asset Selection
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Multiple Account Types
Cons
-
High Minimum Deposit for Best Conditions
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Limited Educational Resources
-
Occasional Customer Support Delays
Withdrawal fee
N/A
Deposit fee
4.2
Max leverage
N/A
Min deposit
N/A
Top Regulators
ASIC
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Not available in
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-
Free VPS hosting
-
Specialized trading accounts
-
24/7 instant money withdrawal
Pros
-
Highly Regulated and Trustworthy
-
Excellent Asset Selection
-
Multiple Account Types
Cons
-
High Minimum Deposit for Best Conditions
-
Limited Educational Resources
-
Occasional Customer Support Delays
- Withdrawal feeN/A
- Deposit feeN/A
- Max LeverageN/A
