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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 the USA, Australia, the 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) which guarantees investors up to $1 million of their capital if 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 in capital.

Moreover, brokers don't follow stringent regulations. Canadian trading regulations are committed to the investors' well-being and permit 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	Deposit bonus	Account
1		Forex.combest broker	2001	FCA, CFTC Regulated FCA CFTC NFA	24	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	-	Real Demo	Add for comparison
2		eToro	2007	ASIC, CySEC Regulated ASIC CySEC CNMV	29	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	-	Real Demo	Add for comparison
3		TD Ameritrade	1975	FINRA, SIPC	2		DMA	2000 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
4		FXCM	1999	ASIC, FCA	8	Payment systems	NDD	5000 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
5		IG	1974	ASIC, FCA Regulated ASIC FCA BaFin CONSOB CNMV AMF	8	Payment systems	DMA, MM	-	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
6		Saxo Bank	1992	ASIC, FCA Regulated ASIC FCA FSMA SFC DFSA CONSOB CNMV AFM SMV MAS CNB FINMA FSA CFSFA BDF DMCC	18	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	-	Real Demo	Add for comparison
7		OANDA	1996	CFTC, NFA	18		Array	-	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
8		CMC Markets	1989	ASIC, FCA	20	Payment systems	NDD, STP	-	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
9		ActivTrades	2001	FCA, CNMV	156	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	-	Real Demo	Add for comparison
10		Interactive Brokers	1977	FCA, CFTC Regulated FCA CFTC NFA SEC	4	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	-	Real Demo	Add for comparison
11		City Index	2001	ASIC, FCA	10	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	-	Real Demo	Add for comparison
12		XM.COM	2009	ASIC, FSC Belize Regulated ASIC FSC Belize CySEC	50	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	-	Real Demo	Add for comparison
13		FxGlory	2012	-	9	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	-	Real Demo	Add for comparison
14		AXITrader	2007	ASIC, FCA	2	Payment systems	NDD	-	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
15		FXTM	2011	FSC Belize, CySEC	21	Payment systems	NDD, ECN	100 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
16		RoboMarkets	2012	CySEC	58	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	-	Real Demo	Add for comparison
17		RoboForex	2009	FSC Belize	55	Payment systems	NDD, ECN Broker type NDD ECN STP MM	-	1:2000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	50 % Tradable Protection 50% is available no matter the first deposit. On the next deposits you can receive it from 300$. The extra funds of Tradable Protection are not written off even during “drawdown”.	Real Demo	Add for comparison
18		HYCM	1977	FCA	185	Payment systems	MM	20 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	10 %	Real Demo	Add for comparison
19		NordFX	2008	SEBI, VFSC	10	Payment systems	NDD, ECN Broker type NDD ECN STP	10 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	100 %	Real Demo	Add for comparison
20		Plus500	2008	ASIC, FCA Regulated ASIC FCA CySEC FSP	9	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	-	Real Demo	Add for comparison
21		FBS	2009	FSC Belize, NAFD	121	Payment systems	ECN, STP	5 $	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
22		EXNESS	2008	FCA, CySEC	69	Payment systems	NDD, ECN Broker type NDD ECN STP MM	-	1:2000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
23		FxPro	2006	FCA, CySEC Regulated FCA CySEC CNMV	180	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	-	Real Demo	Add for comparison
24		Swissquote	1996	FINMA	26	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	-	Real Demo	Add for comparison
25		FP Markets	2005	ASIC, CySEC	14	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	-	Real Demo	Add for comparison
26		Admiral Markets	2001	FCA, CNMV	12	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	-	Real Demo	Add for comparison
27		AVATrade	2006	ASIC, CBI Regulated ASIC CBI FSA FFAJ	15	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	-	Real Demo	Add for comparison
28		IQ Option	2013	-	45	Payment systems	NDD	10 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
29		FxGiants	2015	FCA	47	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	20 % Increase your trading opportunities. Get up to a bonus on all deposits up to $ 2000	Real Demo	Add for comparison
30		Vantage FX	2009	ASIC	14	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	-	Real Demo	Add for comparison
31		Instaforex	2007	RAUFR	79	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	30 %	Real Demo	Add for comparison
32		Alfa-Forex	2016	CBR	1	Payment systems	NDD	-	1:40	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
33		Markets.com	2006	CySEC	10	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	-	Real Demo	Add for comparison
34		FIBO Group	1998	FSC, CNMV	45	Payment systems	NDD, MM	300 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
35		Alpari	1998	FSC Belize, NAFD Regulated FSC Belize NAFD FSA AFD	22	Payment systems	ECN	100 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	100 %	Real Demo	Add for comparison
36		FXOpen	2005	ASIC, FCA	85	Payment systems	ECN, STP Broker type ECN STP MM	10 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1 % Welcome Bonus is credited to the micro account after making the minimum deposit.	Real Demo	Add for comparison
37		GrandCapital	2006	-	5	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	40 % The bonus is charged on any account replenishment without restrictions. The promotion is valid indefinitely.	Real Demo	Add for comparison
38		AMarkets	2007	FSA	56	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	15 %	Real Demo	Add for comparison
39		Dukascopy Bank SA	1998	FINMA	10	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	100 % Get a 100% Welcome bonus to your account.	Real Demo	Add for comparison
40		Dukascopy Europe	2010	FCMC	16	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	-	Real Demo	Add for comparison
41		DeltaStock	1998	BNB	17	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	-	Real Demo	Add for comparison
42		IFC Markets	2006	FSC, CySEC	36	Payment systems	STP	1000 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
43		HotForex	2010	CySEC, FSC	71	Payment systems	NDD	500 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
44		IC Markets	2007	ASIC	22	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	-	Real Demo	Add for comparison
45		FXDD	2002	MFSA	3	Payment systems	NDD, ECN	2000 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
46		Finpari	2013	CySEC	0	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	-	Real	Add for comparison
47		AAFX Trading	2014	ASIC, FSA	200	Payment systems	NDD, ECN	-	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	30 % As a warm welcome to our newest traders, we are offering a 30% bonus on top of your initial deposit into your first AAFX live account.	Real Demo	Add for comparison
48		LiteFinance	2005	-	34	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	100 % Bonus CRYPTO 100%	Real Demo	Add for comparison
49		BCS Forex	2006	CBR, AFD	13	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	50 % Hurry up to get a bonus! Up to $ 5000 on first deposit!	Real Demo	Add for comparison
50		ForexMart	2015	CySEC	18	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	50 % 50% приветственный бонус – это специальное бонусное предложение для всех клиентов компании ФорексМарт. Воспользовавшись данной акцией вы сможете удвоить ваше депозит, выполнив всего два действия. Перв	Real Demo	Add for comparison
51		Binarium	2012	CROFR	1	Payment systems	Array	9 $	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
52		Fortrade	2013	FCA, FSCS Regulated FCA FSCS NB RB	15	Payment systems	Array	100 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	30 % Fortrade offers a welcome bonus, amounting to 30% of the first deposit (up to €3000). The deposit must be €100 as a minimum and the bonus expires within 90 days. Bonus monies may be used for tr	Real Demo	Add for comparison
53		EasyMarkets	2001	ASIC, FSC Regulated ASIC FSC CySEC SIBA	4	Payment systems	MM	-	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
54		Orbex	2010	CySEC	25	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	-	Real Demo	Add for comparison
55		Hantec Markets	2009	FCA	11	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	-	Real Demo	Add for comparison
56		Octa FX	2011	FCA, FSA	5	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	50 % Deposit bonus can only be credited to a verified account. Deposit bonuses can only be credited to any MT4 \| MT5 account.	Real Demo	Add for comparison
57		ForexChief	2014	VFSC	110	Payment systems	ECN, STP	-	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
58		ICM Capital	2009	FCA	1	Payment systems	Array	200 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
59		Fort Financial Service	2010	FSC Belize	17	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	50 % Due to our developed system you can increase the amount of every deposit up to 50%! No doubt that more funds on your account means, more profit from trading is available for you.	Real Demo	Add for comparison
60		FreshForex	2004	KROUFR	78	Payment systems	NDD, MM	-	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	5 000 % Bonus 101%	Real Demo	Add for comparison
61		NPBFX	1996	FSC Belize	20	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	-	Real Demo	Add for comparison
62		BMFN	1988	ASIC, FCA Regulated ASIC FCA FSP FSCS	8	Payment systems	NDD, DMA	50 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	20 % New or existing accounts at BMFN who enroll in the Bonus Program and make a qualifying deposit will receive a deposit bonus up to $10,000!	Real Demo	Add for comparison
63		Core Spreads	2014	FCA	13	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	50 % Open a CoreTrader account and start trading our tight, fixed spreads. After a month claim your bonus	Real Demo	Add for comparison
64		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	-	Real Demo	Add for comparison
65		Degiro	2008	BaFin	6		NDD	-	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
66		GO Markets	2006	ASIC	5	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	-	Real Demo	Add for comparison
67		Yadix.com	2010	FSC	60	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	50 % Get a 50% Cash Bonus up to $10,000 on your first deposit. Cash bonuses are credited to your balance after the requirements are met.	Real Demo	Add for comparison
68		Forex.ee	2004	FSA	5	Payment systems	NDD, ECN Broker type NDD ECN STP	50 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	15 %	Real Demo	Add for comparison
69		Tickmill	2014	FCA, SIBA	3	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	-	Real Demo	Add for comparison
70		FXPRIMUS	2009	CySEC, VFSC	7	Payment systems	STP	-	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
71		Swiss Markets	2012	CySEC	4	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	-	Real Demo	Add for comparison
72		PSB Forex	2016	CBR, NAFD Regulated CBR NAFD AFD	6		NDD	1500 $	1:40	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
73		ICE FX	2015	-	6	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	100 % Компенсация издержек при переводе депозита из других компаний (брокеров, фондов и т.д.). Компенсируется до 100% издержек при транзакции депозита.	Real Demo	Add for comparison
74		FriedbergDirect	2008	IIROC	6	Payment systems	NDD, STP	-	1:33	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
75		TrioMarkets	2014	CySEC	4	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	-	Real Demo	Add for comparison
76		iOCBCfx	2004	MAS	6		NDD	1000 $	1:35	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
77		UOB Kay Hian	2000	MAS	3		NDD	-	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
78		KGI Futures	2001	MAS	5		NDD	1000 $	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
79		KE Forex	1972	MAS	5		NDD	-	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
80		Pepperstone	2010	ASIC	7	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	-	Real Demo	Add for comparison
81		Haitong	2010	MAS	6		NDD, ECN Broker type NDD ECN STP	-	1:50	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
82		FXCitizen	2010	VFSC	7	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	-	Real Demo	Add for comparison
83		Land FX	2013	FCA, FSCS Regulated FCA FSCS FSA	7	Payment systems	NDD, ECN	-	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	10 % 10% bonus applies equivalently to First deposit amount above $300	Real Demo	Add for comparison
84		PhillipCapital UK	1975	ASIC, FCA	5		NDD	200 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
85		Ak Investment	1996	SPK	7		NDD, DMA Broker type NDD DMA MM	5000 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
86		InvestAZ	2010	FSP, SPK	5		ECN	100 $	1:1000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
87		Corner Trader	2012	FINMA	6		MM	1 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
88		Abshire-Smith	2011	FCA, FSCS	5	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	-	Real Demo	Add for comparison
89		ArgusFX	2000	CySEC	7	Payment systems	STP	-	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
90		Ayondo	2008	FCA, BaFin	6	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	-	Real Demo	Add for comparison
91		Bacera	2009	ASIC	7	Payment systems	MM	500 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
92		BogoFinance	2006	CySEC	8	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	-	Real Demo	Add for comparison
93		Capital Index	2014	FCA, CySEC Regulated FCA CySEC FSCS	1	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	-	Real Demo	Add for comparison
94		Core Liquidity Markets	2012	ASIC, FSA	6	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	-	Real Demo	Add for comparison
95		CMG	2015	ASIC	13	Payment systems	Array	250 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
96		Colmex Pro	2010	CySEC	10		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	-	Real Demo	Add for comparison
97		Darwinex	2012	FCA	7	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	-	Real Demo	Add for comparison
98		eTrader	2014	CySEC	8		NDD	100 $	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
99		Flatex	1999	BaFin	6		NDD, MM	-	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
100		Fullerton Markets	2015	FSP	17	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	-	Real Demo	Add for comparison
101		FX88	2016	CySEC	0	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	-	Real Demo	Add for comparison
102		FXCC	-	FCA, CySEC	157	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	-	Real Demo	Add for comparison
103		FX Choice	2010	FSC Belize	2	Payment systems	NDD	-	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
104		FxGrow	2008	CySEC	1	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	-	Real Demo	Add for comparison
105		GMG Markets	2015	FCA	0		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	-	Real Demo	Add for comparison
106		HMS Markets	1972	-	0		NDD	1000 $	1:40	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
107		Infinox Capital	2009	FCA	7	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	-	Real Demo	Add for comparison
108		iTrader	2012	FSC Belize	2		Array	250 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
109		Mex Exchange	2012	ASIC	0	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	-	Real Demo	Add for comparison
110		FXPCM	2007	FSC, DFSA Regulated FSC DFSA DMCC	0	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	10 % To get this bonus, you just need to open a live trading account by registering with the new cabin.	Real Demo	Add for comparison
111		Rakuten Securities Hong Kong	2002	SFC	0		NDD, STP	-	1:200	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
112		RietumuFX	1992	FCMC	8		NDD	1000 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
113		TFI Markets	1999	CySEC	2		NDD	50 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
114		Tradealot	2010	FCA	5	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	-	Real Demo	Add for comparison
115		FinmaxFX	2017	CROFR, VFSC	15	Payment systems	MM	-	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	100 % Follow the link, register, replenish your trading account at least $ 100.	Real Demo	Add for comparison
116		CommSec	1998	ASIC	1		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	-	Real Demo	Add for comparison
117		Woxa	2019	FSC	8		MM	-	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real	Add for comparison
118		MultiBank Group	2005	ASIC	2	Payment systems	ECN	50 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
119		Finam Forex	1994	CBR, NAFD Regulated CBR NAFD AFD	1	Payment systems	NDD, DMA	100 $	1:40	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
120		IUX Markets	2016	FSA	7	Payment systems	MM	10 $	1:3000	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real	Add for comparison
121		Neo Markets	2001	-	0	Payment systems	ECN, STP	100 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-		Add for comparison
122		AMP Global	2018	CySEC, CFTC Regulated CySEC CFTC NFA	3	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	-	Real Demo	Add for comparison
123		Ingot Brokers	2004	ASIC	5		ECN	100 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
124		Alvexo	2014	CySEC, SIBA	6	Payment systems	ECN	500 $	1:300	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
125		AETOS	2007	ASIC	1	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	-	Real Demo	Add for comparison
126		Arum Capital	2017	CySEC	2	Payment systems	ECN, STP	500 $	1:30	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
127		ATFX	2015	FCA	13	Payment systems	NDD	500 $	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
128		Key to Markets	2010	FCA, FSP Regulated FCA FSP DMCC	2	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	-	Real Demo	Add for comparison
129		Trading.com	2018	FCA	1	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	-	Real Demo	Add for comparison
130		BDSwiss	2012	CySEC, FSC Regulated CySEC FSC CFTC NFA	6	Payment systems	ECN	-	1:400	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
131		ATC Brokers	2005	-	1		ECN	2000 $	1:100	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
132		ACY.com	2011	ASIC, VFSC	2		ECN, STP	-	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
133		Milton Prime	2015	CySEC, SIBA	1	Payment systems	NDD	400 $	1:500	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-	Real Demo	Add for comparison
134	-	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	-		Add for comparison
135		TopBrokers	-	-	0		-	-	-	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-		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 the 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 World Wars 1 and 2. During World War 1, there were no strict regulations and the 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 the 1940s when there was a debate regarding 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 to 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 can’t control scammers from other regions This often results in the 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 mandates 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, confusion arose because different territory regulators classified trading rules in their ways. For instance, in Quebec, the main concern was derivative while in Montreal it was more about security. This meant the brokers had to follow 2 different sets 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 limit 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 brokers without any repercussions. Provided, there are numerous regulatory bodies in Canada; Canadian 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. Researching before investing is very vital; there are a handful of 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 an 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 the 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 were, 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 as 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 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 professional development and compliance courses. Normally, the duration of time one has been certified determines their requirements. Although CSI global education courses 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?

Before 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, few 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 brokerage firms adhere to the money laundering laws of the land. In the 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 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 in compensation. Compared to 50,000 Euros offered by UK-regulated forex brokers, CIPF compensation gives traders the liberty to trade any amount of money with no worries about their Canadian Forex broker shutting up the 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 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 the Canadian market and redirected its all clients to Friedberg Direct, which 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 stations. 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.