Best Forex Brokers in Canada for September 2025

Take advantage of demo accounts, review each broker’s fees and tools, and make sure your choice supports the way you want to trade. Whether you’re new to currency trading or looking to upgrade your platform, choosing a trusted forex broker can make all the difference. Canadian traders benefit from strong financial protections through Investment Industry Regulatory Organization of Canada (IIROC), but not every broker is locally regulated—or worth your time. Canada provides a strong and transparent environment for forex and CFD trading.

Is MetaTrader 4 available in Canada?

AvaTrade’s commissions and market research are close to the industry average, and traders gain access to AvaTrade’s proprietary platforms as well as third-party favorites like MetaTrader 4 and MetaTrader 5. OANDA is the best Canadian Forex broker for beginners due to its unlimited demo account, low minimum deposit requirements, and user-friendly trading platforms. These features help traders develop their skills and knowledge by practicing in a risk-free environment and accessing a wide range of educational resources tailored for Canadian traders.

Which trading platforms does FXCM offer?

So, I looked for brokers that consistently offer low spreads, ideally starting at 0.0 pips or close to it. You can trade US stocks like Apple or Google commission-free, and there’s no minimum deposit—you can start with as little as $10. Their Fusion+ copy trading platform is also solid if you want to follow (or be followed by) other traders. If you’re based in Canada and looking for a broker that feels like it was built for serious traders—but without the overwhelming complexity—Oqtima is one you’ll want to have on your radar. Even though it’s relatively new (launched in 2023), it’s already gaining traction in the trading community for offering a professional-grade experience that’s surprisingly accessible. The minimum deposit for traders looking to open an account with this broker is $10,000.

• The first step for every forex trader should be choosing a reliable, well-regulated forex broker.
• Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
• Its focus on customisation allows traders to tailor the platform to their preferences.
• Additionally, I found that traders have access to multiple platforms such as MT4, TradingView, and the broker’s comprehensive desktop, web, and mobile trading platform.

Broker Fee Comparison for Canadian Traders

While adequate, its selection is less extensive compared to competitors. Losses can be carried forward to offset capital gains in future years. However, because tax classification depends on individual circumstances, it’s wise to consult a tax advisor familiar with active trading and CRA policies. When it comes to taxation, Canadian residents are required to report their forex trading income to the Canada Revenue Agency (CRA), with profits being taxed depending on how that income is classified. To maximize security, we recommend choosing brokers that combine CIRO licensing with CIPF membership and platform-level protections like stop-loss orders and margin alerts.

You’ll find a bunch of Forex brokers in Canada offering the lowest spreads possible. Forex brokers like Fusion Markets, Oanda, Admirals, AssetsFX, Exness, and more are known to be offering lower spreads with no or lower commissions at the same time. Canadian traders benefit from secure funding options, strong customer support, and a transparent approach that aligns with regional financial standards. But ZacksTrade is a proven name in the Forex industry with comprehensive customer support, low commissions, higher leverage, higher financial authorities’ regulation, and more. Plus, the broker allows traders to trade with the lowest possible trading costs. In terms of trading cost, the broker is also a convenient choice, with spreads starting from 0.0 pips.

🏆 Top Forex Brokers in Canada for 2025

FXCM offers its proprietary Trading Station platform (desktop, web, mobile) as its flagship. They also support the widely popular MetaTrader 4 (MT4), and provide integration with TradingView for advanced charting. Yes, CMC Markets offers free demo accounts with virtual funds that allow you to practice trading on their Next Generation platform or MetaTrader 4. These demo accounts generally do not expire and can be topped up, providing a risk-free environment to test strategies. Besides crypto, they also offer forex, indices, commodities, and shares. Their spreads are competitive, and you can choose between a commission-free Standard account or a Raw account with tighter spreads and a commission.

TMGM – Top Forex Broker In Canada

Regulated brokers like FOREX.com, OANDA and CMC Markets offer peace of mind and access to CIPF protection, while offshore options like IFC Markets and TMGM provide flexibility, raw pricing and broader global reach. To help you cut through the noise, we’ve researched the top forex brokers that accept Canadian clients. We looked at key factors like regulation, platform options, spreads, educational resources and funding flexibility. Whether you prefer tight ECN spreads, powerful charting tools or a beginner-friendly interface, there’s a broker on this list that fits your style. These brokers are required to segregate client funds from operational accounts, ensuring that your money cannot be used for the broker’s operational needs.

Non-trading fees are related to the fees charged for dormant accounts or periods of inactivity. The safety, security, and transparency of a broker are essential when choosing one to trade with. Your broker will be executing your trades and holding your trading capital. Hence, it needs to have the proper authorizations, licenses, and oversight to do it properly. Below are additional elements to take into consideration when choosing a forex broker in Canada to trade with.

• XTB is a global online broker providing trading services across various financial instruments, including Forex and CFDs on stocks, indices, commodities, and cryptocurrencies.
• Oanda is an excellent choice for Canadian traders seeking a reliable and regulated broker with competitive spreads and various trading assets.
• TMGM offers 50+ forex pairs, covering most major currencies and a few minor pairs.
• The one area where IBKR stands head and shoulders above the competition is its range of tradeable assets.
• These mobile platforms have all of the functionality of the other platform types and are very easily accessible to traders.
• Make sure to check the CIRO regulation of the Forex broker of your choice before creating a demo account.

In fact, this document legalized Canadian residents’ access to leveraged forex and CFD products. After testing 80 brokers this year, our experts have identified the 8 best options tailored to diverse trading needs, complete with practical tips. A counterparty is the entity that provides investors with assets when they trade. There is some risk involved with these companies, including the risk of them defaulting and no longer being able to cover all of their transactions.

These resources help traders improve their skills and stay informed about market trends. They are beneficial for beginners looking to build a strong foundation. Most top Forex brokers in Canada offer demo accounts, allowing you to practice trading without risking real money.

The first step to open a Forex trading account as a trader in Canada is to visit the broker’s official website homepage. Make sure to check the CIRO regulation of the Forex broker of your choice before creating a demo account. Criteria for ranking Forex brokers for volume in Canada is the average daily transaction volume (ADTV). The ADTV measures the total value of all Forex trades processed by the broker. A higher ADTV indicates a broker’s ability to handle large volumes efficiently, offering better liquidity and execution for traders. The main criteria for Canadian Forex brokers include CIRO regulation and low spreads.

When using OANDA’s live trading platform, I discovered that spreads were average with EUR/USD during the London open around 1.3 pips. However, Oanda provides a range of different trading accounts where you can access better spreads. For example, I found that the Advanced Trader Program account offers 0.2 pip reduction on forex pairs if more than $100 million notional trade volume is traded in one month. During my live testing, I observed that the broker offers a diverse range of over 120 CFDs, including forex, indices, commodities, and bonds.

How can I verify that my broker has negative balance protection?

While XTB operates globally, Canadian residents can access its services via XTB FR, the French branch of the XTB Group. While FP Markets accepts Canadian clients and supports CAD trading, it lacks direct Canadian regulatory oversight and a physical presence in canadian forex review Canada. This might be a key consideration for traders prioritizing local investor protections and support.

They can benefit from this opportunity by registering with Canadian Forex traders offering high leverage. Forex trading is legal in Canada, with the national regulatory organization being the Canadian Investment Regulatory Organization (CIRO). Each Canadian province and territory has its own regulatory authority too, as noted in the following section of this publication. Hence, the CIRO, the Canadian Securities Administrators (CSA), and the various securities commissions oversee Forex trading in the country. Here’s an overview of the top brokers that made the list of the best forex brokers in Canada.