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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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.
Withdraw 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
-
Low commissions
Pros
-
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.
- Withdraw fee$0
- Deposit fee$0
- Max Leverage1:500
Rating
4.6
/ 5
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Start trading
73%-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
Withdraw 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
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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
- Withdraw fee$0
- Deposit fee$0
- Max Leverage1:50
Start trading
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73%-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
Withdraw fee
N/A
Deposit fee
4
Max leverage
1:50
Min deposit
N/A
Top Regulators
CFTC, NFA
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Exceptional Execution
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US Clients
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Scalping
Pros
-
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
- Withdraw 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)
Withdraw 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
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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)
- Withdraw 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
Withdraw 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
-
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
- Withdraw 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
Withdraw fee
N/A
Deposit fee
4.8
Max leverage
N/A
Min deposit
N/A
Top Regulators
FSA
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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
- Withdraw 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
Withdraw fee
N/A
Deposit fee
4.2
Max leverage
N/A
Min deposit
N/A
Top Regulators
CYSEC
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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
- Withdraw feeN/A
- Deposit feeN/A
- Max LeverageN/A
Free VPS hosting
Specialized trading accounts
24/7 instant money withdrawal
Pros
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Highly Regulated and Trustworthy
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Excellent Asset Selection
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Multiple Account Types
Cons
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High Minimum Deposit for Best Conditions
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Limited Educational Resources
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Occasional Customer Support Delays
Withdraw fee
N/A
Deposit fee
4.2
Max leverage
N/A
Min deposit
N/A
Top Regulators
ASIC
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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
- Withdraw feeN/A
- Deposit feeN/A
- Max LeverageN/A
Advanced Analytical Tools
Flexibility in payment methods
Pros
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Livaxxen operates under the regulation of M.I.S.A., providing a level of oversight and adherence to financial standards.
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The broker offers a range of account types, catering to different trading needs and preferences.
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Traders can benefit from high leverage, up to 1:400, which can enhance potential returns, though it also increases risk.
Cons
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Despite being regulated, Livaxxen is not overseen by a top-tier financial authority like ASIC. CySEC or FCA.
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The broker does not offer popular educational resources or trading materials, which could be a drawback for beginners seeking guidance.
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Livaxxen also lacks the widely-used MetaTrader 4 and MetaTrader 5 platforms, which are standard in the industry.
Withdraw fee
$0
Deposit fee
4.7
Max leverage
1:400
Min deposit
$500
Top Regulators
No
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9
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-
Advanced Analytical Tools
-
Flexibility in payment methods
Pros
-
Livaxxen operates under the regulation of M.I.S.A., providing a level of oversight and adherence to financial standards.
-
The broker offers a range of account types, catering to different trading needs and preferences.
-
Traders can benefit from high leverage, up to 1:400, which can enhance potential returns, though it also increases risk.
Cons
-
Despite being regulated, Livaxxen is not overseen by a top-tier financial authority like ASIC. CySEC or FCA.
-
The broker does not offer popular educational resources or trading materials, which could be a drawback for beginners seeking guidance.
-
Livaxxen also lacks the widely-used MetaTrader 4 and MetaTrader 5 platforms, which are standard in the industry.
- Withdraw fee$0
- Deposit fee$5
- Max Leverage1:400
Free VPS hosting
24/7 instant money withdrawal
Specialized trading accounts
Pros
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Strong Regulatory Oversight
-
Fast Execution Speeds
-
Wide Range of Trading Instruments
Cons
-
Platform Complexity for Beginners
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Limited Educational Resources for Advanced Traders
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Limited Demo Account Access
Withdraw fee
N/A
Deposit fee
4.6
Max leverage
N/A
Min deposit
N/A
Top Regulators
ASIC, BaFIN, CYSEC, FCA
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trusted
Not available in
10
Expand
-
Free VPS hosting
-
24/7 instant money withdrawal
-
Specialized trading accounts
Pros
-
Strong Regulatory Oversight
-
Fast Execution Speeds
-
Wide Range of Trading Instruments
Cons
-
Platform Complexity for Beginners
-
Limited Educational Resources for Advanced Traders
-
Limited Demo Account Access
- Withdraw feeN/A
- Deposit feeN/A
- Max LeverageN/A