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Forex Brokers for Canadian traders

Canadian Forex Brokers

Why choose Forex brokers in Canada when there are many options across the globe? It is assumed that brokerage companies from USA, Australia, UK, and other European Union nations are more reliable than others around the world. Over the previous years, FX brokers from Canada have not been in a position to replicate this kind of success, especially in the FX industry. Nevertheless, brokerage firms in Canada do offer outstanding advantages to both institutional and individual traders.

A notable advantage of using a brokerage firm based in Canada is the CIPF (Canadian Investor Protection Fund) that guarantees investors up to $1 million of their capital in the event that their brokerage firm becomes bankrupt. (See all CIPF members here) This is a relatively huge sum of money, particularly when compared to the 50,000 Euros offered to clients of FCA Forex brokers. This means that forex trading in Canada is suitable if an investor has more than one million dollars capital.

Moreover, brokers don't follow stringent regulations. Canadian trading regulations are committed to the investors' well-being and permit the FX traders to use global brokerage firms. The table below can help you learn more about Canadian brokerage companies and the main features that they offer.

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#	Logo	Forex broker	Founded	Regulated	Reviews	Payment systems	Broker type(?)	Min. Deposit	Max. leverage	Live spread Live Average Interval: Live spreadAverage spreadEUR/USD	Live spread Live Average Interval: Live spreadAverage spreadGBP/USD	Live spread Live Average Interval: Live spreadAverage spreadUSD/CHF	Live spread Live Average Interval: Live spreadAverage spreadUSD/CAD	Live spread Live Average Interval: Live spreadAverage spreadUSD/JPY	Live spread Live Average Interval: Live spreadAverage spreadAUD/USD	Live spread Live Average Interval: Live spreadAverage spreadNZD/USD	Live spread Live Average Interval: Live spreadAverage spreadEUR/AUD	Live spread Live Average Interval: Live spreadAverage spreadEUR/CAD	Live spread Live Average Interval: Live spreadAverage spreadEUR/CHF	Accepting US traders?	Account
1		Forex.combest broker	2001	FCA, CFTC Regulated FCA CFTC NFA	47	Payment systems	ECN, MM	100 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1	Real Demo	Add for comparison
2		eToro	2008	ASIC, FCA Regulated ASIC FCA CySEC CNMV	59	Payment systems	NDD, STP	50 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1	Real Demo	Add for comparison
3		IG	1974	ASIC, FCA Regulated ASIC FCA BaFin CONSOB CNMV AMF	15	Payment systems	DMA, MM	0 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1	Real Demo	Add for comparison
4		TD Ameritrade	1975	FINRA, SIPC	6		DMA	2000 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1	Real Demo	Add for comparison
5		Saxo Bank	1992	ASIC, FCA Regulated ASIC FCA FSMA SFC DFSA CONSOB CNMV AFM SMV MAS CNB FINMA FSA CFSFA BDF DMCC	24	Payment systems	ECN, STP	10000 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1	Real Demo	Add for comparison
6		LMFX	2015	-	25	Payment systems	NDD	50 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
7		OANDA	1996	ASIC, FCA Regulated ASIC FCA MAS CFTC NFA	21		-	0 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1	Real Demo	Add for comparison
8		CMC Markets	1989	ASIC, FCA	33	Payment systems	NDD, STP	0 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
9		Interactive Brokers	1977	FCA, CFTC Regulated FCA CFTC NFA SEC	11	Payment systems	MM	10000 $	1:40	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1	Real Demo	Add for comparison
10		City Index	2001	ASIC, FCA	15	Payment systems	NDD, ECN	250 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
11		XM.COM	2009	ASIC, IFSC Regulated ASIC IFSC CySEC	79	Payment systems	MM	5 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
12		FxGlory	2012	-	18	Payment systems	NDD, MM	1 $	1:3000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
13		AXITrader	2007	ASIC, FCA	12	Payment systems	NDD	0 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
14		Capital.com	2016	ASIC, FCA Regulated ASIC FCA CySEC NB RB	119	Payment systems	MM	20 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
15		XTB.com	2002	FCA, CNMV	5	Payment systems	NDD, STP	250 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
16		RoboMarkets	2012	CySEC	46	Payment systems	NDD, ECN Broker type NDD ECN STP MM	100 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
17		RoboForex	2009	IFSC	22	Payment systems	NDD, ECN Broker type NDD ECN STP MM	0 $	1:2000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
18		Forex4you	2007	FSC	33	Payment systems	NDD, STP	20 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
19		NordFX	2008	SEBI, VFSC	102	Payment systems	NDD, ECN Broker type NDD ECN STP	0 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
20		Plus500	2008	ASIC, FCA Regulated ASIC FCA CySEC FSP	40	Payment systems	NDD	100 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
21		HYCM	1977	FCA	182	Payment systems	MM	100 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
22		FBS	2009	IFSC, NAFD	101	Payment systems	ECN, STP	1 $	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
23		EXNESS	2008	FCA, CySEC	95	Payment systems	NDD, ECN Broker type NDD ECN STP MM	0 $	1:2000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
24		FxPro	2006	FCA, CySEC Regulated FCA CySEC CNMV	182	Payment systems	NDD, ECN Broker type NDD ECN STP	100 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
25		Swissquote	1996	FINMA	36	Payment systems	STP	1000 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
26		FP Markets	2005	ASIC, CySEC	19	Payment systems	DMA	100 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
27		FXCM	1999	ASIC, FCA	20	Payment systems	NDD	0 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
28		Admiral Markets	2001	FCA, CNMV	25	Payment systems	NDD, ECN	0 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
29		AVATrade	2006	ASIC, CBI Regulated ASIC CBI FSA FFAJ	64	Payment systems	NDD	100 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
30		IQ Option	2013	FSA	11	Payment systems	NDD	10 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
31		FxGiants	2015	FCA	41	Payment systems	ECN, STP Broker type ECN STP MM	50 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
32		Vantage FX	2009	ASIC	18	Payment systems	ECN	200 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
33		Instaforex	2007	RAUFR	97	Payment systems	NDD, ECN	1 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
34		Alfa-Forex	2016	CBR	16	Payment systems	NDD	0 $	1:40	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
35		FIBO Group	1998	FSC, CNMV	37	Payment systems	NDD, MM	0 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
36		Alpari	1998	IFSC, NAFD Regulated IFSC NAFD FSA AFD	41	Payment systems	ECN	0 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
37		Markets.com	2006	CySEC	13	Payment systems	NDD	100 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
38		FXOpen	2005	ASIC, FCA	108	Payment systems	ECN, STP Broker type ECN STP MM	1 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
39		GrandCapital	2006	-	16	Payment systems	STP	10 $	1:2000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
40		AMarkets	2007	FSA	83	Payment systems	NDD, ECN Broker type NDD ECN STP	100 $	1:3000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
41		Dukascopy Bank SA	1998	FINMA	15	Payment systems	ECN	1000 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
42		Dukascopy Europe	2010	FCMC	19	Payment systems	ECN	100 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
43		Just2Trade	2006	CySEC	57	Payment systems	ECN, STP	100 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
44		DeltaStock	1998	BNB	21	Payment systems	NDD, ECN Broker type NDD ECN STP MM	100 $	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
45		IFC Markets	2006	FSC, CySEC	40	Payment systems	STP	0 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
46		HotForex	2010	CySEC, FSC	92	Payment systems	NDD	5 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
47		IC Markets	2007	ASIC	30	Payment systems	NDD, ECN	0 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
48		FXDD	2002	MFSA	8	Payment systems	NDD, ECN	250 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
49		Finpari	2013	CySEC	3	Payment systems	NDD, STP	100 $	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real	Add for comparison
50		ActivTrades	2001	FCA, CNMV	132	Payment systems	NDD	100 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
51		AAFX Trading	2014	ASIC, FSA	231	Payment systems	NDD, ECN	100 $	1:2000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
52		LiteFinance	2005	-	43	Payment systems	ECN	50 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
53		BCS Forex	2006	FSA	16	Payment systems	NDD, ECN Broker type NDD ECN STP MM	1 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
54		ForexMart	2015	CySEC	24	Payment systems	ECN	1 $	1:5000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
55		Binarium	2012	CROFR	4	Payment systems	-	9 $	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
56		Fortrade	2013	FCA, FSCS Regulated FCA FSCS NB RB	23	Payment systems	-	100 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
57		EasyMarkets	2001	ASIC, CySEC	13	Payment systems	MM	100 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
58		Orbex	2010	CySEC	30	Payment systems	ECN	500 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
59		Hantec Markets	2009	FCA	15	Payment systems	NDD	1000 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
60		ForexChief	2014	VFSC	124	Payment systems	ECN, STP	1 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
61		ICM Capital	2009	FCA	4	Payment systems	-	200 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
62		Octa FX	2011	FCA, FSA	29	Payment systems	ECN	100 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
63		Fort Financial Service	2010	IFSC	3	Payment systems	NDD, ECN Broker type NDD ECN STP	5 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
64		FreshForex	2004	KROUFR	83	Payment systems	NDD, MM	0 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
65		BMFN	1988	ASIC, FCA Regulated ASIC FCA FSP FSCS	12	Payment systems	NDD, DMA	0 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
66		Core Spreads	2014	FCA	18	Payment systems	NDD	1 $	1:240	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
67		NPBFX	1996	IFSC	24	Payment systems	NDD, STP	10 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
68		City Index Singapore	2006	MAS	3		MM	100 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
69		Degiro	2008	BaFin	9		NDD	0 $	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
70		GO Markets	2006	ASIC	14	Payment systems	NDD	200 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
71		Yadix.com	2010	FSC	65	Payment systems	ECN, STP	100 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
72		Forex.ee	2004	FSA	8	Payment systems	NDD, ECN Broker type NDD ECN STP	10 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
73		Tickmill	2014	FCA, SIBA	10	Payment systems	NDD	25 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
74		FXPRIMUS	2009	CySEC, VFSC	11	Payment systems	STP	100 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
75		Swiss Markets	2012	CySEC	3	Payment systems	STP	200 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
76		PSB Forex	2016	CBR, NAFD Regulated CBR NAFD AFD	8		NDD	1500 $	1:40	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
77		ICE FX	2015	-	8	Payment systems	STP	30 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
78		FriedbergDirect	2008	IIROC	11	Payment systems	NDD, STP	0 $	1:33	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
79		TrioMarkets	2014	CySEC	9	Payment systems	ECN, STP	500 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
80		iOCBCfx	2004	MAS	8		NDD	1000 $	1:35	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
81		UOB Kay Hian	2000	MAS	7		NDD	0 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
82		KGI Futures	2001	MAS	8		NDD	1000 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
83		KE Forex	1972	MAS	9		NDD	0 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
84		Pepperstone	2010	ASIC	13	Payment systems	ECN	200 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
85		Haitong	2010	MAS	9		NDD, ECN Broker type NDD ECN STP	0 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
86		FXCitizen	2010	VFSC	11	Payment systems	NDD, ECN	10 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
87		Land FX	2013	FCA, FSCS Regulated FCA FSCS FSA	11	Payment systems	NDD, ECN	300 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
88		PhillipCapital UK	1975	ASIC, FCA	7		NDD	200 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
89		Ak Investment	1996	SPK	12		NDD, DMA Broker type NDD DMA MM	1000 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
90		InvestAZ	2010	FSP, SPK	8		ECN	100 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
91		Corner Trader	2012	FINMA	9		MM	1 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
92		Abshire-Smith	2011	FCA, FSCS	10	Payment systems	STP, DMA	500 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
93		ArgusFX	2000	CySEC	10	Payment systems	STP	0 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
94		Ayondo	2008	FCA, BaFin	9	Payment systems	NDD	100 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
95		Bacera	2009	ASIC	11	Payment systems	MM	0 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
96		BogoFinance	2006	CySEC	11	Payment systems	NDD	100 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
97		Capital Index	2014	FCA, CySEC Regulated FCA CySEC FSCS	3	Payment systems	NDD, STP	100 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
98		Core Liquidity Markets	2012	ASIC, FSA	10	Payment systems	NDD	100 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
99		CMG	2015	ASIC	19	Payment systems	-	250 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
100		Colmex Pro	2010	CySEC	14		NDD, ECN	2000 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
101		Darwinex	2012	FCA	10	Payment systems	STP, DMA	500 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
102		eTrader	2014	CySEC	11		NDD	100 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
103		Flatex	1999	BaFin	9		NDD, MM	0 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
104		Fullerton Markets	2015	FSP	16	Payment systems	ECN, STP	100 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
105		FX88	2016	CySEC	2	Payment systems	ECN	100 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
106		FXCC	-	FCA, CySEC	163	Payment systems	NDD, ECN Broker type NDD ECN STP	100 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
107		FX Choice	2010	IFSC	6	Payment systems	NDD	100 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
108		FxGrow	2008	CySEC	5	Payment systems	ECN, STP	100 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
109		GMG Markets	2015	FCA	2		NDD, STP	200 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
110		HMS Markets	1972	-	3		NDD	1000 $	1:40	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
111		Infinox Capital	2009	FCA	10	Payment systems	ECN, STP	100 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
112		iTrader	2012	IFSC	4	Payment systems	NDD	250 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
113		Mex Exchange	2012	ASIC	3	Payment systems	NDD, ECN	200 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
114		FXPCM	2007	FSC, DFSA Regulated FSC DFSA DMCC	2	Payment systems	NDD, ECN	100 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
115		Rakuten Securities Hong Kong	2002	SFC	2		NDD, STP	0 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
116		RietumuFX	1992	FCMC	9		NDD	1000 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
117		TFI Markets	1999	CySEC	3		NDD	50 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
118		Tradealot	2010	FCA	8	Payment systems	STP	2000 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
119		FinmaxFX	2017	CROFR, VFSC	21	Payment systems	MM	250 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
120		CommSec	1998	ASIC	4		DMA, MM	10 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
121		Finam Forex	1994	CBR, NAFD Regulated CBR NAFD AFD	4	Payment systems	NDD, DMA	0 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
122		MultiBank Group	2005	ASIC	2	Payment systems	ECN	0 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
123		AMP Global	2018	CySEC, CFTC Regulated CySEC CFTC NFA	7	Payment systems	STP	100 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
124		Ingot Brokers	2004	ASIC	8		ECN	100 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
125		Alvexo	2014	CySEC, SIBA	10	Payment systems	ECN	0 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
126		AETOS	2007	ASIC	6	Payment systems	NDD	250 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
127		Arum Capital	2017	CySEC	5	Payment systems	ECN, STP	0 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
128		ATFX	2015	FCA	17	Payment systems	NDD	0 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
129		Key to Markets	2010	FCA, FSP Regulated FCA FSP DMCC	6	Payment systems	ECN	100 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
130		Trading.com	2018	FCA	3	Payment systems	ECN	5 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
131		BDSwiss	2012	CySEC, FSC Regulated CySEC FSC CFTC NFA	10	Payment systems	ECN	0 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
132		ATC Brokers	2005	-	3		ECN	2000 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
133		ACY.com	2011	ASIC, VFSC	4		ECN, STP	-	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
134		Milton Prime	2015	CySEC, SIBA	1	Payment systems	NDD	0 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0	Real Demo	Add for comparison
135	-	Capex	2018	CFSFA, DMCC Regulated CFSFA DMCC SIBA	2	Payment systems	DMA, MM	50 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0		Add for comparison

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5 (2)

History of Forex Trading in Canada

The study of FX trading in Canada shows that foreign exchange reforms were introduced between 1939 and 1945 (World War 2). It also led to the establishment of Foreign Exchange Control order and Exchange Fund Account in 1971. The former was tasked to regulate foreign currency while the latter took care of the gold reserve. Through Foreign Exchange Control order, FECB (Foreign Exchange Control Board) was supposed to strengthen the Canadian dollar against the sterling pound and the U.S dollar. The Canadian banks and investors were supposed to sell all their foreign exchange to FECB.

The history also shows the difference between economic reforms instigated during the World War 1 and 2. During the World War 1, there were no strict regulations and UK was the main foreign creditor. However, things changed in 1939 when the US become the principal source of foreign exchange in Canada but most US investors did not invest a lot of money in the country. This continued until 1950 when the economy of Canada started improving.

Another significant event worth noting was in 1940s when there was a debate in regard to whether the off the record rate was the accurate reflection of the Canadian dollar. Famous economists like the then financial advisor to the government warned small traders against investing and recommended the introduction of exchange control systems that would balance trade.

Regulation of Canadian FX Brokerage companies

Regulation Canada

Although a developed nation, Canada allows its residents use international brokerage firms without a local license. This move enhances competitiveness in the industry but also has some serious disadvantages. For example, the country’s retail FX market regulatory body doesn’t have the ability to control scammers from other regions This often results in loss of huge amounts of capital invested by local investors from the country. Also, it is worth noting that no single Canadian body has the authority to issue fines or sanctions on these international brokers.

Canada lacks a principal regulatory body; the country has the biggest number of regulators in the globe. The Canadian government plans to unify all these organizations but the plan has not been put into effect. This comes after several recommendations from advisors proposed the creation of one agency with a mandate of controlling and supervising all FX stakeholders in the country. Nonetheless, Canadian markets are classified into diverse territories that enforce different trading regulations through numerous regulatory bodies.

The Relationship between IIROC and the territorial regulatory organizations

One of IIROC’s main mandate is to regulate national financial markets. With the provision of two regulatory bodies, traders and even brokers have found the regulations of the FX market to be unclear and confusing. Consequently, both the national and territorial agencies have tried to unify the situation leading to the introduction of new rules that guide the industry's conduct.

Initially, the confusion arose because different territory regulators classified trading rules in their own ways. For instance, in Quebec the main concern was derivative while in Montreal it was more of security. This meant the brokers had to follow 2 different set of rules. With the introduction of new rules, both the provincial and national regulators use the same regulations.

IIROC FX Trading Guidelines

All Canadian brokers offering services that involve trading in currency pairs must be members of IIROC. Another new rule enforced by the commission is the leverage limits of 18:1. Although this move reduces the risks of losing, it makes trading a thing for those with huge capital.

Moreover, all employees including salespeople of an IIROC registered brokerage must be competent and experienced.

Can one choose a Broker who is not IIROC-registered?

It is illegal for you to use a broker not registered and regulated by the national regulator. However, the existing provincial rules allow investors to trade with international FX broker without any repercussions. Provided, there are numerous regulatory bodies in Canada; Canada citizens can invest with any global broker.

How to Pick the Best Canadian Forex Brokers

With the intrusive search option on the IIROC official website, you can check whether your broker is IIROC-registered or not. Conducting a research prior to investing is very vital; there are handful brokers who claim to be registered yet they are not. You will also get information related to approval and disciplinary actions.

Becoming a successful Forex Broker in Canada

Fx for Canadians

At topbrokers.com, you will find that there is a more rewarding world of making money and trading other than bonds and stocks. Well, bonds and stocks are popular investment methods but the most profitable financial market is FX. This is because investors, governments, and banks take a chance on the cost of global currencies.

Learn the basics of Forex trading; Get Education

To become a successful broker, you should have skills, patience, confidence, focus, objectivity, and confidence. In addition, you need an understanding and knowledge of geopolitical happenings that affect global currencies every single minute. For instance, an experienced broker should sell Canadian dollars and purchase euros in an event they predict the Canadian dollar will lose its value as compared to the euro.

There is no one size fits all approach when it comes to FX trading, if there was, every Tom, Dick, and Harry would be Canadian forex brokers. Just like the stock market, to become a successful broker, you must take a course where you learn to analyze technical and fundamental indicators. Knowledge in the FX industry is power; the more you know about FX markets, the better equipped you are to analyze different global currencies as well profits and reduce losses in the lucrative industry in question. You will also be in a position to identify different trends as they arise, make use of risk management strategies and learn how to establish techniques and targets as a way of generating consistent income.

Register as an FX Broker

All brokers and individuals working for/with an IIROC regulated brokerage must be registered with the national regulatory body. Registration with the commission shows investors and the general public that the member is committed to upholding the practice's ethics and standards. To be registered with IIROC you must have completed and passed the CSC (Canadian Securities Course), be an employee of an IIROC-regulated company and undergo a three months training immediately after registration where one should not handle with retail clients

Continuing training for Canadian Forex Brokers

IIROC-regulated brokers should meet the CE (Continuing Education) requirements to retain their work eligibility and registration. Continuing education comprises of professional development and compliance courses. Normally, the duration of time one has been certified determines their requirements. Although CSI global education course can be used to meet these requirements, it is wise for brokers to check with the commission for course selection and guidelines.

Want to Start an FX Brokerage Outfit?

Prior to investing, a wise prospective broker should put the following questions into consideration:

How soon do you want to start your brokerage?
How will you be processing transactions?
Will the jurisdiction maintain and secure clients?
Which bank will you use?
How much is your capital?

So what do you do from there? Visit financial websites like topbrokers.com and speak to a consultant. They will answer all your questions as well as offer you support and advice that will get you started.

Limitations and Comparison to other Countries/scams

FX brokerage firms in Canada don't adhere to the same regulations that are followed by brokers from neighboring nations like the USA. For instance, brokerage companies in the US follow CFTC (Commodity Futures Trading Commission) and NFA (National Futures Association) regulations such as implementing a set leverage of 50:1 on maximum currency and 20:1 on minors, a no hedging policy and also implementing the FIFO rule. Although such regulatory restrictions reduce risks, they limit the true potential of retail FX trading. There are, however, little restrictions in Canada but the country can enforce policies that will keep financial malpractices and violations to the minimum.

Moreover, the country is quite lenient when it comes to international transactions from global forex brokers, as long as both the brokerage firms adhere to money laundering laws of the land. In USA and European Union nations, for example, traders and investors are not permitted to send any funds to international forex brokers. Although these strict restrictions on international payment are a result of threats to the national security, they limit citizens while transferring their funds.

One of the major concerns of all traders is the security of their funds since there are chances of their broker going into bankruptcy. As a result, CIPF guarantees investors $ 1 million compensation. Compared to 50,000 Euros offered by UK-regulated forex brokers, CIPF compensation gives traders liberty to trade any amount of money with no worries about their Canadian Forex broker shutting up company.

Canadian Forex Brokers: Who is the Most Reliable?

Due to the popularity of forex, thousands of new FX brokers have swamped the market, all in quest of your patronage. Look for recommendations and reviews from forums such as topbrokers.com; it will help you find the right Forex broker in Canada for you. Below is a review of the top 3 Canadian Forex brokers.

XM

XM Forex broker was founded in 2009 by Trading Point of Financial Instruments Company. Since then, it has served over 10 million clients. This can be attributed to reliable customer care support. This brokerage offers 5 days in a week and 24 hours in a day customer support in 20 different languages.

Account opening with XM is very simple. First, you register then indicate your preferred currency and finally select the payment method. Some of the payment methods include credit cards, Western Union, Skrill, bank wire, MoneyGram, and China UnionPay.

TrioMarkets

TrioMarkets is a major player as far as FX is concerned. The broker has numerous account packages that suit both small and big traders. This successful brokerage not only offers a reliable FX trading platform but also trains investors. This, as a result, prevents conflict of interests.

Friedberg Direct

Friedberg Direct is one the oldest Canadian Forex brokers. Following the regulatory changes in Canada, FXCM withdrew from Canadian market and redirected its all clients to Friedberg Direct, who provides similar services as FXCM.

This brokerage does not a wide range of accounts; instead, they have legal structures such as corporate, partnership and individual. Traders can also choose between popular trading platforms like trade station. Ninja Trader, and MetaTrader 4.

Make the right choice

The list above is as candid as possible to assist you to make an informed and confident decision. Well, different brokers may be the best for different investors depending on their needs. It is therefore always advisable to first open a demo account with your preferred brokers. Taken together, you are a resident of a nation with so many possibilities and options.