Best 9 Forex Brokers in Canada for 2025

Yes, Canadian Forex traders can use various trading strategies, including scalping, swing trading, and long-term investing, as long as they adhere to CIRO regulations and broker policies. Canada does not provide tax-free spread betting, but traders can still engage in CFDs and spot Forex trading. The amount of money needed to start a Forex trading account in Canada ranges from $10 to $1000. The minimum amount to open a Canadian Forex trading account is $1 with a cent or nano account, increasing to $1000 for Forex traders in Canada wanting to trade with lower or no leverage. AvaTrade provides its services in Canada through the CIRO-regulated Friedberg Direct. AvaTrade allows traders to deposit in CAD and offers English and French services.

CMC Markets offers an all-encompassing trading experience with an intuitive platform, advanced analytical tools, canadian forex review and a wide range of instruments. Its regulation by IIROC provides added security for Canadian traders. The platform’s execution speed and extensive forex pair offerings make it a top choice. Canada offers forex traders a number of benefits, one in particular that will have you seriously considering a Canadian Forex Broker. In this guide, we outline exactly how forex traders are protected, and the regulations brokers adhere to in Canada. Then, we highlight Canada’s best Forex brokers in terms of platforms and tools, customer service, fees, and more.

What are the fees on CFDs?

Many people prefer trading Forex due to the available leverage being higher compared to other assets. They can benefit from this opportunity by registering with Canadian Forex traders offering high leverage. The above applies to most individual Forex traders’ capital that is not marked as business income.

What is the Minimum Deposit for Trading with FX Brokers in Canada? 💵

• Yes, you can get started trading forex with $100; in fact, if you’re a beginner at forex trading, it’s smart to start small, and make sure not to invest more than you can afford to lose.
• After determining how much you are willing to risk in trading, then you need to choose your ideal broker.
• Although the price that you have to pay to make use of their services is high, Saxo Bank can offer you a well-rounded package that won’t leave even the most demanding of traders wanting.
• There are various parameters to check, and it takes time to collect all the data and make the best decision for your needs.
• ActivTrades offers competitive and low minimum commission, over 1,055 global share CFDs, and a range of trading platforms, including MT4, MT5, TradingView, and proprietary ActivTrader platform.

Our broker ratings are derived from rigorous testing by industry experts and experienced traders. We thoroughly evaluate regulatory compliance, security, transparency, trading performance, and customer service. AXI is operated by AxiCorp Financial Services Pty Ltd, an Australian company with a long-standing presence in the global CFD and forex market.

Great broker, low fees for forex trading – CMC Markets

However, inactivity fees apply after three months, making it better suited for active traders. AvaTrade’s user-friendly platform and MetaTrader 4/5 support make it an excellent choice for casual traders. I was particularly impressed by its innovative AvaProtect feature, which offers added protection for trades, reducing risk.

The only negative here is that although online reviews are generally positive, there are many who complain about difficulties in withdrawing funds. You’ve successfully signed up for our forex newsletter, where you’ll receive expert insights, market analysis, and the latest news straight to your inbox. This is a great cross-check if the broker claims to be CIRO‑regulated.

It can also have negative consequences for Canadian investors, because regulators in Canada do not have any control over brokers outside of Canada. The company falls on its customer service with a more standard offering in comparison with some competitors, and the brokerage lacks access to fundamental data. For a more exhaustive list of Forex.com pros and cons, check out our in-depth FOREX.com review. Although CMC Markets caters to traders in 88 counties across the globe, the firm’s customer service provided is one of the best on offer.

What is Forex or the foreign exchange market?

It reflects Canada’s broader securities law framework, which is administered at the provincial level but harmonized through national instruments and CIRO’s rules. Anyone offering financial advice, portfolio management, or dealing in derivatives such as Forex contracts must meet licensing and compliance obligations under this framework. Below, you’ll find the best UK forex brokers for 2025—thoroughly tested, verified, and ranked, so you can trade with confidence. HelloSafe.ca offers site visitors information on insurance and personal finance products in compliance with applicable laws.

The management team has decades of combined experience in financial services, which supports the broker’s international profile and regulatory compliance. ➡️ Forex and CFD-focused traders who prioritize tight spreads, strong global regulation (ASIC, FCA), and transparent pricing—but do not need access to direct asset ownership or a wide range of platforms beyond MT4. ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. All information contained herein is based on ForexBrokers.com’s independent review of this broker’s various global brand entities.

FOREX.com is a global forex and CFD broker founded in 2001, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FOREX.com provides proprietary platforms alongside MetaTrader 4 and 5. FOREX.com is regulated by multiple top-tier authorities including FCA, ASIC, and CFTC. FOREX.com is known for competitive spreads, fast execution, and extensive educational resources. The FOREX.com’s parent company “StoneX Group Inc.” CEO is Sean O’Connor.

• The first step for every forex trader should be choosing a reliable, well-regulated forex broker.
• It is important that the phone number of the broker’s website is a local contact in Canada.
• You can look through each trading platform for more information about their features by clicking them.
• Chris Cammack is the Partner Manager and a financial writer at FxScouts.

If this is the case, ensure there is a good range of charting tools, indicators and analysis options, as well as any additional services you may require. If you have a good idea of which currency pairs you want to explore, take a look at a forex broker’s product list to see what they offer. The top platforms are transparent about costs, even providing minimum and average spreads for their catalog of currency pairs.

Is my money safe with OANDA?

The broker also provides free Virtual Private Server (VPS) hosting for low-latency trading. High-volume traders can make use of it to secure stable internet connectivity and achieve average execution speeds below 5 milliseconds. To avoid scams, trade with CIRO-regulated Forex brokers, research brokers thoroughly, be wary of promises of high returns with low risk, and never provide personal information or funds to suspicious entities. The broker offers a good balance between high-quality services and reasonable rates, making it an attractive choice for a broad spectrum of traders.

OCTA provides an extensive range of research and educational materials useful for beginner traders who are just starting out. Founded in 2011, one entity is authorized and regulated by CySEC, and one entity is not regulated. Beginner traders can access a free demo trading account and a commission-free trading account to trade 80+ financial instruments. With access to high leverage, multiple trading platforms, and a range of high-quality research tools, Exness is the best overall forex broker to consider this year.