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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.

Order by
41Savexa24/7 Multilingual SupportMin deposit $250Max leverage 1:400Regulated by MISAAdd to compare listRating 4.1 / 5Start trading
Pros, cons & fees
24/7 Customer SupportMultilingual SupportRead review
Pros

  • Extensive range of tradable instruments: With over 160 CFD instruments available, including stocks, forex, indices, commodities, metals, and cryptocurrencies, traders have ample options to diversify their investment portfolio.

  • Commission-free trading: There are no commissions on standard trades as the broker earns from spreads, which are also very competitive (starting ~0.9 pips). This transparent fee model means lower and straightforward costs for traders.

  • 24/7 Multilingual Customer Support: Customer support is accessible 24/7 in four languages to help traders access support in their preferred language.

Cons

  • Offshore Regulation: Savexa is regulated in Mwali (Comoros) instead of a tier-1 regulatory jurisdiction. The broker is offshore regulated which means the investors do not get the tier-1 investor protection features.

  • Lack of MetaTrader Platforms: Savexa does not offer the popular MetaTrader 4 or 5. Many seasoned brokers prefer using MetaTrader for their trades instead of WebTrader.

  • Limited Advanced Strategies: The broker does not allow advanced strategies like scalping and arbitrage trading. Lack of MetaTrader further means copy trading and auto trading are absent as well.

42zForexBonus20% deposit bonus1:1000 Max LeverageMin deposit $10Max leverage 1:1000Regulated by MISAAdd to compare listRating 4.1 / 5Start trading
Pros, cons & fees
Affiliate ProgramMultilingual SupportMultiple Trading PlatformsRead review
Pros

  • High Leverage: zForex offers an extremely high leverage of 1:1000, giving traders much larger positions against small investments.

  • Low Minimum Deposit Fee: The broker offers a very low barrier to entry with just $10 in minimum deposits to start trading. Usually, brokers have a minimum deposit of $100+.

  • Swap-Free/Islamic Account Option: Swap-free trading account allows interest-free trading which is a great addition for Muslim traders.

Cons

  • No Top-tier Regulations: zForex is regulated in Mwali (by MISA), and lacks the strong oversight of top-tier regulators. The investor protection features are therefore comparatively limited.

  • High Deposit for Islamic/Swap-free Account: The minimum deposit for Islamic accounts is on a much higher end compared to standard trading accounts.

  • New Brokerage: zForex is a relatively new brokerage that started its operations in 2022. This could be a concern for traders who prefer trading with established brokerage firms.

43Trade247 Investor protection24/7 Bilingual SupportMin deposit $100Max leverage 1:500Regulated by NoAdd to compare listRating 4.1 / 5Start trading
Pros, cons & fees
Affiliate Program24/7 SupportRead review
Pros

  • Dual Regulated Broker: Trade247 is regulated by both SCA (UAE) and FSC (Mauritius), adding more trust and credibility for the company.

  • MetaTrader 5 Platform: Advanced tools and fast execution with MetaTrader 5 and DMA (Direct Markets Access).

  • High Leverage on Trading Assets: The company offers a maximum leverage of 1:500 on tradable assets giving traders control to much bigger positions against their invested funds.

Cons

  • Only MetaTrader 5 Trading Platform Available: No MetaTrader 4 or proprietary trading platform options offered by the brokerage.

  • Newly Founded Broker: The company recently started operations in 2025, therefore, lacks an established reputation and a track record.

  • Lacks Dedicated Education Center: Unlike most brokers, Trade247 lacks dedicated courses and knowledge base.

Withdrawal fee $0Deposit fee $0
44Grand CapitalBonus40% deposit bonusFree VPS HostingMin deposit $10Max leverage 1:100Regulated by FSA, FSA (SV)Add to compare listRating 4 / 5Start trading
Pros, cons & fees
Specialized trading accounts24/7 instant money withdrawalLow minimum depositRead review
Pros

  • Competitive Minimum Deposit: The minimum deposit required to open an account with Grand Capital is $10, a relatively low minimum deposit in the industry.

  • All-Inclusive Educational Resources: Grand Capital provides educational resources for traders of all levels. The broker has webinars, video tutorials, and publications that cater to different trading needs.

  • Flexible Leverage: Grand Capital stands out with its flexible leverage options ranging from 1:1 to 1:2000. This flexibility allows traders to manage their risk and exposure according to their trading strategy.

Cons

  • Weak Regulation and Licensing: The financial market is subject to many regulatory bodies, and the more license brokers can boast of, the more credible they appear. Unfortunately, Grand Capital is not as licensed as many top brokers in the financial market.

  • Limited Trading Platforms: Grand Capital only has three trading platforms; MT4, MT5, and Grand Trade.

Withdrawal fee $0Deposit fee $0
45ExnovaLow Minimum DepositMin deposit $10Max leverage 1:500Regulated by NoAdd to compare listRating 4 / 5Start trading
Pros, cons & fees
Affiliate programCashback RewardsTrading SignalsRead review
Pros

  • Exnova provides an intermediate level of educational materials and market insights, making it an excellent choice for traders looking to enhance their knowledge and skills.

  • The broker provides negative balance protection, ensuring traders do not lose more than their initial Deposit, enhancing risk management.

  • Although relatively young, Exnova has received recognition in the form of multiple industry awards, further affirming its reputation and commitment to excellence.

Cons

  • The inability of Exnova to provide basic information about itself on its website is seen as a critical flaw. Users have to register an account before being able to access crucial information.

  • Exnova lacks regulatory license from any reputable financial organization. This means the broker is not held to industry standard.

  • The broker currently lacks the copy trading feature. This prevents traders from enjoying following and replicating the strategies of experienced traders.

46SwissquoteBonus€100 cashbackBest Secure BrokerRegulated by FINMAAdd to compare listRating 3.9 / 5Start trading
Pros, cons & fees
Specialized trading accountsRead review
Pros

  • Regulated and licensed by multiple financial authorities

  • Offers a wide range of assets for trading

  • Provides advanced trading tools and platforms

Cons

  • Does not accept clients from some countries, including the United States

  • Has high minimum deposit requirements

  • Has limited leverage compared to some other brokers

47Trading.comBonus$100 no-deposit bonus0-Pip EUR/USD SpreadsMin deposit $5Max leverage 1:30Regulated by FCA, CFTC, NFAAdd to compare listRating 3.9 / 5Start trading
Pros, cons & fees
Variety of Trading InstrumentsWebTrader PlatformSimple RegistrationRead review
Pros

  • Trading.com stands out for its competitive spreads, allowing traders to access markets at favorable pricing.

  • The platform offers user-friendly trading platforms, notably the MetaTrader 5 terminal, facilitating a smooth trading experience.

  • Traders can access a decent array of tradable instruments, including Forex, stocks, commodities, indices, metals, and energies.

Cons

  • Trading.com's trading platform options are limited, offering only the MetaTrader 5 (MT5) platform for traders.

  • The platform's educational resources are relatively limited, potentially leaving traders seeking more comprehensive learning materials.

  • Trading.com is exclusively available to clients within the United Kingdom, limiting its accessibility to a global audience.

Withdrawal fee $0Deposit fee $0
48Markets.comBest For Forex, Gold & CFD TradingRegulated by CySEC, AMFAdd to compare listRating 3.9 / 5Start trading
Pros, cons & fees
Specialized trading accountsRead review
Pros

  • Thorough Regulation and License: markets.com is licensed and regulated by 5 reputable watchdogs. This further strengthens the broker's credibility as a financial service provider.

  • Markets.com is not your regular broker, with its blend and IPO offerings. These additional offerings put the broker in a league of its own.

  • Sleek Proprietary Trading Platform: Besides its MT4 and MT5 trading platforms, the broker has its own customized trading platforms, which excel in every regard as the more popular trading platforms.

Cons

  • Inactivity Charges: Traders must pay a fee of $10 per month after 90 days of no trading inactivity on markets.com.

  • No Customer Support Service on Weekends: Since trading is 24/7, it's only ideal that the customer support service is also available 24/7 so clients can resolve their complaints quickly.

49Capital Index Investor protection180+ Tradable InstrumentsMin deposit $100Max leverage 1:200Regulated by FCA, SCBAdd to compare listRating 3.9 / 5Start trading
Pros, cons & fees
Top Tier Regulations180+ Tradable InstrumentsRead review
Pros

  • Top tier regulators like CySEC, FSCS, and FCA

  • Variety of trading accounts with different spreads and leverage options

  • Diverse range of assets.

Cons

  • Only available to the UK residents.

  • Inactivity fees apply to dormant accounts

  • Higher spreads on standard accounts

Withdrawal fee $0Deposit fee $0
50Interactive BrokersBonusRefer a Friend Program by Interactive BrokersBest For Day TradersRegulated by FCA, CFTC, NFA +1Add to compare listRating 3.9 / 5Start trading
Pros, cons & fees
24/7 instant money withdrawalRead review
Pros

  • Unparalleled Market Access

  • Competitive Pricing

  • Advanced Trading Tools

Cons

  • Steep Learning Curve

  • Customer Service Could Be Better

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Our ranking methodology and selection process