Best Forex Brokers in Canada

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.

VT Markets

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Investor protection

Doubly Insured Accounts

Not available in

Rating

4.7

/ 5

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Specialized trading accounts

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Pros

Trading Accounts for Different Types of Traders: VT Markets offers STP, ECN, Cent, and Swap Free trading accounts. The company also offers a demo account for 90 days.
Multi Regulated Brokerage: VT Markets has multiple reputable regulations from South Africa, Dubai, and Mauritius.
Investor Protection and Trader Insurance: The company is a part of The Financial Commission and Compensation Fund and has Lloyd’s Insurance with coverage of over €20,000 and $1M respectively for client funds.

Cons

No Crypto CFDs Available: VT Markets does not offer crypto CFD assets.
No Phone Support: VT Markets does not offer phone support.

Withdrawal fee

Deposit fee

4.7

Max leverage

1:1000

Min deposit

$50

Top Regulators

Yes

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VT Markets

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Specialized trading accounts

Pros

Trading Accounts for Different Types of Traders: VT Markets offers STP, ECN, Cent, and Swap Free trading accounts. The company also offers a demo account for 90 days.
Multi Regulated Brokerage: VT Markets has multiple reputable regulations from South Africa, Dubai, and Mauritius.
Investor Protection and Trader Insurance: The company is a part of The Financial Commission and Compensation Fund and has Lloyd’s Insurance with coverage of over €20,000 and $1M respectively for client funds.

Cons

No Crypto CFDs Available: VT Markets does not offer crypto CFD assets.
No Phone Support: VT Markets does not offer phone support.

Withdrawal fee$0
Deposit fee$0
Max Leverage1:1000

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IC Markets

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Best For Tight Spreads

Not available in

Rating

4.6

/ 5

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Specialized trading accounts

Tight Spreads

Low commissions

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Pros

Provides trading aids and resources such as risk depth, spread monitoring, and risk calculator.
Offers low average spreads and competitive pricing for all account types.
Provides plugins for third-party research and trading tools.

Cons

Limited product offerings.
No investor protection for traders outside the European Union.
No weekend trading, extra bonuses or promos.

Withdrawal fee

Deposit fee

4.6

Max leverage

1:500

Min deposit

$200

Top Regulators

ASIC, CySEC

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IC Markets

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Specialized trading accounts
Tight Spreads
Low commissions

Pros

Provides trading aids and resources such as risk depth, spread monitoring, and risk calculator.
Offers low average spreads and competitive pricing for all account types.
Provides plugins for third-party research and trading tools.

Cons

Limited product offerings.
No investor protection for traders outside the European Union.
No weekend trading, extra bonuses or promos.

Withdrawal fee$0
Deposit fee$0
Max Leverage1:500

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PU Prime

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Investor protection

100% of Your Deposit Matched in Bonus Credit

Not available in

Rating

4.6

/ 5

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24/7 Multilingual Customer Service

Proprietary Copy Trading App

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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

Slightly Higher Spreads: For no-commission accounts, spreads starting at 1.3 pips are slightly higher than the industry average.
High Minimum Deposit: High minimum deposit for the low-spread and commission-based accounts
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

Deposit fee

4.6

Max leverage

1:1000

Min deposit

$20

Top Regulators

Yes

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PU Prime

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24/7 Multilingual Customer Service
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

Slightly Higher Spreads: For no-commission accounts, spreads starting at 1.3 pips are slightly higher than the industry average.
High Minimum Deposit: High minimum deposit for the low-spread and commission-based accounts
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$0
Deposit fee$0
Max Leverage1:1000

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Forex.com

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Best Trading Platforms

Not available in

Rating

4.6

/ 5

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Specialized trading accounts

24/7 instant money withdrawal

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Pros

Top-Tier Regulation
Low Forex Fees
No Withdrawal Fees

Cons

High Stock CFD Fees
Limited Product Portfolio
User Interface Could Be More Intuitive

Withdrawal fee

Deposit fee

4.2

Max leverage

1:50

Min deposit

$100

Top Regulators

FCA, CFTC, NFA, CIRO, CIMA, CySEC

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Forex.com

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Specialized trading accounts
24/7 instant money withdrawal

Pros

Top-Tier Regulation
Low Forex Fees
No Withdrawal Fees

Cons

High Stock CFD Fees
Limited Product Portfolio
User Interface Could Be More Intuitive

Withdrawal fee$0
Deposit fee$0
Max Leverage1:50

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OANDA

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US Clients

Available in

Rating

4.5

/ 5

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Exceptional Execution

US Clients

Scalping

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Pros

OANDA is among the few international online forex brokers that accept U.S. clients.
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.
OANDA does not require a fixed initial deposit on the standard account.

Cons

OANDA’s financial offerings have some irregularities that may only suit some traders
-Trading on OANDA may incur several fees, including a monthly inactivity fee

Withdrawal fee

N/A

Deposit fee

Max leverage

1:50

Min deposit

N/A

Top Regulators

CFTC, NFA

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Available in

OANDA

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Exceptional Execution
US Clients
Scalping

Pros

OANDA is among the few international online forex brokers that accept U.S. clients.
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.
OANDA does not require a fixed initial deposit on the standard account.

Cons

OANDA’s financial offerings have some irregularities that may only suit some traders
-Trading on OANDA may incur several fees, including a monthly inactivity fee

Withdrawal feeN/A
Deposit feeN/A
Max Leverage1:50

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FP Markets

Best Tradable Instruments

Not available in

Rating

4.5

/ 5

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Free VPS hosting

Specialized trading accounts

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Pros

Excellent customer support with 24/7 availability
Competitive spreads and fast execution speeds
Comprehensive educational resources including webinars and video tutorials

Cons

Limited range of tradable assets compared to some competitors
Higher minimum deposit for certain account types
No proprietary mobile app (relies on MT4/cTrader mobile)

Withdrawal fee

Deposit fee

4.6

Max leverage

1:500

Min deposit

$50

Top Regulators

ASIC, CYSEC

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FP Markets

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Free VPS hosting
Specialized trading accounts

Pros

Excellent customer support with 24/7 availability
Competitive spreads and fast execution speeds
Comprehensive educational resources including webinars and video tutorials

Cons

Limited range of tradable assets compared to some competitors
Higher minimum deposit for certain account types
No proprietary mobile app (relies on MT4/cTrader mobile)

Withdrawal fee$0
Deposit fee$0
Max Leverage1:500

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Tradequo

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Investor protection

Multilingual Customer Support

Not available in

Rating

4.5

/ 5

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24/7 Customer Support

Very High Leverage

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Pros

Multiple Regulations: Multi-regulated broker with licenses from Seychelles (FSA), South Africa (FSCA), Dominica (FSU), and UAE (SCA).
Extremely High Leverage and Low Trading Costs: You can trade with up to 1:1000, 1:2000, and even “limitless” on special accounts with negative balance protection available. Tradequo offers spreads as low as zero pips on some major pairs (depending on the account type).
Extensive Range of Tradable Assets: The broker gives you access to 350+ tradable instruments over forex, stocks, indices, commodities, and cryptocurrencies.

Cons

Not Available in Certain Jurisdictions: The company does not accept clients from US, EU, UK, and Canada among others due to regulatory restrictions.
No Call Support: Tradequo does not offer call support at the time of writing this review.
Islamic Account Option Only Available on Request: Islamic accounts are available but not as a standard account type. They are only available upon request.

Withdrawal fee

Deposit fee

4.5

Max leverage

Unlimited

Min deposit

Top Regulators

Add to compare list

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Not available in

Tradequo

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24/7 Customer Support
Very High Leverage

Pros

Multiple Regulations: Multi-regulated broker with licenses from Seychelles (FSA), South Africa (FSCA), Dominica (FSU), and UAE (SCA).
Extremely High Leverage and Low Trading Costs: You can trade with up to 1:1000, 1:2000, and even “limitless” on special accounts with negative balance protection available. Tradequo offers spreads as low as zero pips on some major pairs (depending on the account type).
Extensive Range of Tradable Assets: The broker gives you access to 350+ tradable instruments over forex, stocks, indices, commodities, and cryptocurrencies.

Cons

Not Available in Certain Jurisdictions: The company does not accept clients from US, EU, UK, and Canada among others due to regulatory restrictions.
No Call Support: Tradequo does not offer call support at the time of writing this review.
Islamic Account Option Only Available on Request: Islamic accounts are available but not as a standard account type. They are only available upon request.

Withdrawal fee$0
Deposit fee$0
Max LeverageUnlimited

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Neomarkets

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Best Execution On Transactions

Not available in

Rating

4.5

/ 5

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24/7 instant money withdrawal

Affiliate Program

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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.
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.
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

4.5

Max leverage

1:500

Min deposit

$20

Top Regulators

FIU

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Neomarkets

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24/7 instant money withdrawal
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.
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.
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.