7 Best Forex Brokers in Canada for 2025

Access to bonds and futures via CFDs modestly enhances diversification, yet these are offered in a smaller range than seen on multi-asset institutional-grade platforms. AXI only supports trading stocks and ETFs via CFDs (not physical shares), so you face spread/commission costs rather than traditional exchange fees or custody charges. No UK stamp duty or physical custody fees apply, but overnight finance is charged on leveraged CFD positions.

• Canadian clients can choose between four account types, including Standard STP, Raw ECN, Cent Standard, and Cent Raw.
• John Bringans is the Managing Editor of BrokerNotes.co and ForexBrokers.com.
• To find out more about fees, you can use the live chat function on the right side of the picture below.
• As you can see from a summary of four of the seven accounts offered by IronFX, there is a wide variety of differences.

AXI Canada Review: Our Expert Analysis for September 2025

• FP Markets was founded in 2005 in Sydney, Australia, and allows trading of over 840 instruments from an ECN trading account using MT4, MT5, and cTrader platforms.
• My top pick, CMC Markets, offers a balance of low costs, security, and advanced tools.
• No wallet, custody, or blockchain transfer costs are relevant since all trading is derivative-based.
• The Forex market regulation in Canada primarily focuses on ensuring transparency and fairness in trading practices, as established by Canadian regulatory bodies.
• Looking for the best Canadian forex brokers with tight spreads and secure platforms?

CMC Markets are a low-risk forex broker because they are regulated in Canada. The web-based version gives you instant access to the markets via most browsers and operating systems. It upholds the highest security standards as all data transmitted between you and your brokerage is heavily encrypted. However, Canadian traders, who do not feel like installing additional software on their devices, can execute their trades straight in their browsers thanks to the broad availability of the MetaQuotes WebTrader. Many websites support electronic funds transfers, commonly known as EFTs.

Best Account Offering

Top stories, top movers, and trade ideas delivered to your inbox every weekday before and after the market closes. Visit our sister site, TheInvestorsCentre.co.uk, for UK-specific investment insights and advice. Here’s a quick summary table highlighting the key features of the brokers included in this review. FP Markets is regulated by ASIC and CySEC, ensuring compliance with international financial standards. While not directly regulated in Canada, its strong reputation globally adds credibility. Regulated by CySEC, FXCC adheres to international compliance standards.

AXI delivers an accessible and balanced suite of global markets, with a focus on simplicity and tight trading conditions. The platform’s core offering is centered on CFDs—ranging from more than 70 forex pairs to a variety of indices, commodities, stocks, and even a concise mix of crypto CFDs. Being able to trade on both Standard and Pro accounts—without a mandatory minimum deposit—offers flexibility for both new and seasoned traders. A forex broker offers brokerage services to retail and professional traders who want to speculate on currency pairs & other markets as CFDs, by going long (buy) or short (sell). Through a forex broker, your profit or loss from trading CFDs is cash settled in a brokerage account you have opened with the broker.

The leverage amount offered by a broker depends on your categorization as a client with them (retail or professional) and which financial regulator the broker falls under. Plus500 has recently expanded into the United States to offer futures trading via its state-of-the-art WebTrader platform. US clients can access futures contracts on forex, indices, commodities, bonds, and cryptocurrencies.

Although it does not hold Canadian CIRO regulation, I find its adherence to tier-1 regulatory standards to be reassuring, especially for traders who value fund protection and dispute resolution. My conclusions are based on real experience, not just reading the broker’s website. AXI stands out for excellent regulation, competitive pricing, and a reliable copy trading app, but its asset range is smaller and platform choice is limited compared to some rivals. What you’ll get here is my direct, experience-driven take on who AXI suits in the Canadian trading scene.

Main features of the best Canada Forex brokers

OANDA (Canada) Corporation ULC is regulated by the Canadian Investment Regulatory Organization (CIRO) and customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of the coverage is available upon request or at There is no minimum balance or deposit amount needed to activate a live account at OANDA. The OANDA website’s educational hub features webinars and videos covering current events and financial analysis.

What’s the best forex broker for professional traders?

Interactive Brokers is regulated by multiple top-tier authorities worldwide. During this hands-on review, I checked AXI ’s spreads, commissions, and funding options, and contacted customer support at different times to gauge their responsiveness and helpfulness. I compared all of this with what I’ve experienced at other top international brokers, focusing on regulation, asset range, and costs. This included seeing if AXI is friendly for beginners (with no minimum deposit, free demo, and user support) and also if it offers enough for advanced traders—like copy trading and tight spreads. Our team of expert traders tested many regulated and trustworthy forex brokers that accept traders from Canada and compiled a toplist with the best among them.

First, go to the broker’s website and confirm if they are regulated with the CIRO. Founded in 2013, Tradingpedia aims at providing its readers accurate and actual financial news coverage. Our website is focused on major segments in financial markets – stocks, currencies and commodities, and interactive in-depth explanation of key economic events and indicators. However, they rank among the slowest payment methods because they require between five and ten business days.

AvaTrade Canada Review 2025

The Forex market is additionally overseen on a federal level, which creates a challenge from the perspective of brokerages. We have listed in this article a few brokers that do not require any minimum amount to start trading. However, keep in mind that with such small amounts, the trade size will be small as well.

It is important for Canadian traders to verify any restrictions with their chosen CIRO-regulated broker. Certain strategies, such as high-frequency scalping, may be limited. Additionally, traders should pay attention to Canadian economic data and global commodity prices, as these factors frequently influence the CAD and can impact the effectiveness of specific trading approaches. 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.

There could also be accounts with low minimum deposits requirement like CAD 50. There are a few brokers with minimum deposits as high as CAD 500 or more. So when it comes to the money you need to begin trading, your forex broker is a key factor. There are usually Standard Accounts with standard fee structures, generally as spreads and swaps.

As you can see, there are different commission schedules for different currency pairs. You should get familiar with this to know the pairs with high commissions. Some fake brokers may also claim they are regulated by using the license of actual regulated brokers. One way to avoid such scam brokers is by verifying the license no. on CIRO’s website, and matching if the website that you are visiting is the actual website listed on CIRO’s portal. In addition, they are a member of the Canadian Investor Protection Fund.

Yes, many IIROC-regulated brokers offer cryptocurrency trading pairs, though the range of available options may vary. These pairs typically involve popular cryptocurrencies like Bitcoin or Ethereum traded against fiat currencies like USD or CAD. It is important to note that trading crypto pairs comes with higher risks due to the volatility of the cryptocurrency market. Other, more secure methods, such as bank wire transfers, can take up to five working days. That said, Canadian forex trading platforms that accept transfers from some of the biggest banks in the country, canadian forex review such as the Royal Bank of Canada (RBC), may offer favorable processing times. As outlined above, Canada’s main financial regulatory body is the Canadian Investment Regulatory Organization (CIRO).

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