List of forex brokers in canada

Canadian forex brokers.

One of the biggest perks of trading with a Canadian forex broker is the Canadian Investor Protection Fund (CIPF), which insures every trader's account for up to $1 million against suffering losses due to an insolvent broker. See a list of all CIPF members here. Furthermore, all brokers in the country must be registered with the Investment Industry Regulatory Organization of Canada (IIROC).

Depending on the province, where they are registered, brokers in Canada may need to comply with different regulations – Quebec and Ontario, for example, impose additional requrements on forex and CFD brokers (nothing too harsh, though). Unlike the United States, Canada does not ban hedging, there is no FIFO (firs-in-first-out) rule for closing positions, and leverage is not restricted.

Despite being a vast country, Canada is not particularly popular destination for forex brokers; one of the reasons for this is that Canadian citizens are not mandated to trade with nationally-licensed brokers only and can trade with pretty much any brokerage from any country.

Nonetheless, major brokers like FXCM and Forex have chosen to set up offices there so that they can cater to the needs of their Canadian clients better.

* InvestTechFX and Fx Clearing claim to be Canadian forex brokers, but they are not CIPF members.

Canadian forex brokers.

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Canada’s regional regulator, the British Columbia Securities Commission (BCSC), has issued a warning against the forex, CFD and binary options broker uTrader and its owner Day Dream Investments Ltd. Read more.

Nova Scotia’s regulator warns of binary options broker AshfordInvestments.

The Nova Scotia Securities Commission has issued a warning that the binary options broker AshfordInvestments is not authorized to sell securities in the Canadian province. According to the regulator, however, at least one Nova Scotia investor has lost money with this company. Read more.

Canada explicitly bans binary options.

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Canada's BCSC warns of binary options broker 332option.

Canada's provincial regulator, the British Columbia Securities Commission (BCSC) has added the binary options broker 332option to its warning list. According to the BCSC, the owning company Blueport Investment Services Ltd. Read more.

Canada's MSC warns of GTOptions.

Canada's provincial regulator, the Manitoba Securities Commission (MSC) has issued a warning against the binary options broker GTOptions. According to the publication, “GTOptions, gtoptions, and MJ Vents Ltd. Read more.

Forex Industry News.

Latest forex brokers.

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Top Forex Brokers in Canada.

Unlike in the US where traders are permitted to deposit money with nationally-licensed brokers only (NFA regulated brokers), Canadian traders are able to trade with nearly any brokerage of their choosing. With this in mind it's worth considering whether you want to choose a Canadian Forex broker based in your country (or in your state), or whether you want to expand your horizons and consider a broker that serves Canadian Forex traders while being based elsewhere.

The classification of the Canadian dollar (CAD) as one of the world's major currencies has made Canadian Forex trading both accessible and understandable to traders at all skill levels and in all geographic locations. Still, it's not enough to merely understand the market – it's just as critical to have a Forex broker that offers the best trading conditions for Forex trading in Canadian dollars (and all currency pairs). Start by determining which pairs you'll be trading. USD/CAD, also known as the "Loonie" is Canada's most popular Forex pair, but our traders also watch others including CAD/JPY, CAD/CHF, EUR/CAD and AUD/CAD. Start by checking each broker to make sure it offers the pairs you want. Next, check the spreads of each of the top Canadian Forex brokers to compare their offerings and determine where you'll pay the least commission.

You'll also want to check each Canadian broker's policy about swaps, rollovers a leverage, all of which will ensure that your trades will be executed exactly how you want them, and that your Canadian Forex experience will be as pleasant (and hopefully profitable as possible).

Getting Started with Forex Trading in Canada.

While trading conditions are certainly a vital part of the Forex trading experience, we believe that the most important parts of the trading experience are related to the reliability, professionalism and security of each Canadian Forex broker. There are several ways to participate in online trading in Canada: you can choose a broker that is regulated in Canada only. You can choose a broker that is regulated outside of Canada but that serves Canadian Forex traders. These brokers may be regulated in multiple jurisdictions which is a strong sign that they are reliable and that your money will be secure even if you're doing the online trading from Canada, and not within their country of licensing. Lastly, you can opt for an unregulated broker. These brokers accept brokers everywhere, but will not guarantee safety of funds in a reliable way.

We have researched Forex trading in Canada extensively to bring you reviews and recommendations of the top Canadian brokers. The information we've compiled is as candid and updated as possible to ensure that you make a confident, educated decision. As you can see in the chart below there are several excellent options, and each broker may be the best Forex broker for different traders depending on their specific needs (as outlined above). There's no harm in opening a demo with a few brokers to see which one suits you best. After all, you're lucky to live in a country with so many options and possibilities – why not take advantage of all that online trading in Canada has to offer?

Canadian Forex Brokers.

AvaTrade is among the top Forex brokers in the world with offices in New York, Dublin, Sydney, Milan, Tokyo and other locations. It is regulated by the Central Bank of Ireland and licensed by MiFID in the European Union as well as by several other licensing bodies. AvaTrade’s features include, among other things, a choice of platforms, a demo account, an Ava debit card for all live account holders, access to Trading Central charting tools for depositors of over $1000 and free withdrawals.

Questrade, a Canadian discount broker located in Toronto, opened its doors in 1999 and has been rated one of Canada’s best managed companies several years running. Questrade was the first brokerage to offer dual currency registered stock accounts and commission-free ETF’s. Their focus remains the same but to keep up with other online brokerages, they have now added Forex platforms and CFD’s to their list of trading options. Questrade Inc. is registered as an investment dealer with IIROC.

FXCM (Forex Capital Markets) was founded in 1999 in the U. S.A. and was an early pioneer of internet-based trading. FXCM was listed among the fastest growing companies by Inc. 500 List of America’s Fastest Growing Companies three years in a row. The FXCM Group has headquarters in New York, with offices around the globe in places such as the U. K., France, Italy, and Australia. It is regulated and licensed in each of them. FXCM is also a publicly traded company on the Nasdaq Exchange, the major U. S. exchange listing the equity of large technology-based companies.

FOREX is a currency trading website operated by Gain Capital Holdings, Inc., a financial services company that’s been in business since 1999. GAIN Capital is listed on The New York Stock Exchange (NYSE: GCAP).

FXTM or Forex Time, founded in 2012, is still considered a newcomer to the online Forex trading scene. However, within a span of two short years, this broker has managed to carve out a name for itself by wining several industry awards such as “Best Newcomer 2013” and “Fastest Growing Forex Broker.” FXTM is headquartered in Cyprus and is regulated by IFSC of Belize as well as FSB.

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Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly.

Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. We work hard to offer you valuable information about all of the brokers that we review. In order to provide you with this free service we receive advertising fees from brokers, including some of those listed within our rankings and on this page. While we do our utmost to ensure that all our data is up-to-date, we encourage you to verify our information with the broker directly.

North America: Canada.

Below is a list of online forex brokers which are incorporated or registered in Canada. Click on the links in the left column menu for forex brokers in other countries.

(1) The icon designates multiple languages. Clicking on the icon will show or hide the additional languages available. Clicking on the broker name before the language will bring you to their site in that language.

(2) When possible, clicking on the Regulatory Authority will direct you to the regulatory authority's site on either the page for that broker, a list of brokers licensed by that authority, or to a page where you can do a licensed entities search.

Forex Brokers in Canada.

Canada (IIROC) Regulation News.

2 Mar 2017, British Columbia, Canada - LeapRate - Continuing its string of warnings against unregulated brokers and other scams targeting retail traders in Canada, Canadian securities regulator the British Columbia Securities . . .

23 Dec 2016, British Columbia, Canada - Finance Magnates - The British Columbia Securities Commission (BCSC), one of the thirteen provincial financial regulators in Canada, has added Royal Downing Investments and Inter Global . . .

19 Dec 2016, British Columbia, Canada - AtoZ Forex - Continuing the series of warnings against unregulated brokers and other scams that target traders in Canada, BCSC warns against StoxMarket. The British Columbia Securities . . .

7 Oct 2016, Ontario, Canada - LeapRate - Continuing a string of warnings against forex and binary options brokers targeting traders in Canada, Canadian securities regulator the Ontario Securities Commission (OSC) has issued a . . .

26 Sep 2016, Ontario, Canada - SMN Weekly - Ontario's provincial regulator, the Ontario Securities Commission (OSC), has added the Trade24 forex broker to its warning list. According to the publication on OSC's website, . . .

31 May 2016, British Columbia, Canada - British Columbia Securities Commission - Ava Trade Ltd. claims to be a regulated on-line broker, based in the British Virgin Islands. We became aware of a recent . . .

14 Dec 2015, Toronto, Canada - LeapRate - Questrade, Inc. , headquartered in Toronto, a Canadian provider to high-speed, direct access trading in the U. S. and Canadian stock and options markets through its IQ trading . . .

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Forex Brokers in Canada.

Forex brokers might be distinguished in many ways, but the main criterion is usually their residence. Even though in most cases, the location of the firm we are clients of is not that important, here in financial trading, things are completely different. The residence of the broker does affect not the broker, itself only, but only on the customers, who have the possibility to join it. This location limit is usually drastic and significant, so we have decided to make a statement over it, as well. For this purpose, today, we will strictly talk about the best Canada Forex brokers. Canadian Forex websites are by all means not few, but numerous, so it is our duty to put some light over their specifications, too. So, let`s talk about the best Forex brokers in Canada now! Focus and let`s get ready, traders!

Can Forex traders from Canada trade in any broker they want?

It is not a secret to anybody that there is a big chance for many traders to find difficulties to find a decent broker to register and trade in. This is not very common, but you can find it as a trend for many different trader types. Indeed, brokers are quite many, but depending on your nationality, you might not be able to join some of them. To be more specific, USA and Canadian customers are those traders, who might be out of reach to some specific brokers, including Canada Forex brokers. The limitations we are now talking about are due to the national laws in the countries. Canadian laws as to financial trading, as well as gambling in general, might limit your choice. For instance, many traditional platforms – mostly those that are based in European territory – announce it directly on their home page that Canadian citizens are not allowed. So what Canadians can do then? Are they entirely restricted from the Forex market? Of course, no! Canadians traders are allowed to trade, but at particular Forex brokers Canada – e. g. websites for financial trading that are located and regulated by Canadian authorities or independent controlling agencies. But let`s discus these things in details, because they seem to form any Canadian trader`s choice for opening an account in a certain broker based in Canada.

Trusted Forex Brokers.

Trusted Forex Brokers.

What is the situation with the Canada Forex broker regulation?

Still, if you are a trader based in Canada, you are free to join any Canada Forex broker. The Canadian brokers are specific for their own regulation body, which provides the safety for each trading website, as well as the safety for the customers, themselves. Canada is famous for its high level of security, when it comes to make any kind of financial transactions in the web in general. Meanwhile, this country is very precise as to the personal data safety. All of these lead to the conclusion that Forex brokers Canada are actually the top regulated websites. See which agencies are in charge for this:

Financial Transactions and Reports Analysis Centre of Canada.

The Financial Transactions and Reports Analysis Centre of Canada – or simply the FTRACC – is the official regulatory agency for Forex brokers Canada. The main responsibilities this agency has are to collect and analyze facts and problems as the Canadian market, as well as to prevent money laundering, to provide and deprive the Canadian Forex brokers with licenses and etc. While it is working, reacting to the different requirements and signals, the Financial Transactions and Reports Analysis Centre of Canada is allowed to react as to all the suspicious transactions, suspected terrorist property, large cash transactions, electronic funds transfers and etc.

Ontario Securities Commission – known by the abbreviation OSC – is not a government, but an independent Forex regulator agency, which covers Ontario legislation territory. The official FTRACC has approved the appearance, as well as the work of the Ontario Securities Commission as an ordinary, but only additional regulator to the Canadian Forex brokers. The Ontario Securities Commission administers and enforces securities law in the province of Ontario. The mandate of the OSC is to provide protection to investors from unfair, improper and fraudulent practices, as well as to foster fair and efficient capital markets and confidence in capital markets.

British Columbia Securities Commission.

And finally, British Columbia Securities Commission – or also known by the abbreviation behind BCSC – is an independent regulator for the Forex trading Canada experience, too. Currently, this commission has 10 commissioners, who are in charge to protect the personal data, the finances and the brokers from different cases of scams or frauds. This controlling agency is entirely self-funded, which makes it very popular among the traders, who prefer to enforce their signals to more independent regulation agencies.

Do not hesitate to test a Canada Forex broker, guys! They are safe and quite profitable – especially if you already have a good established strategy for amazing outcomes! Good luck with the search for the most suitable for you broker!

Forex Brokers by countries.

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