This comprehensive guide aims to help you choose the best forex brokers in Canada, leaving you to focus on being profitable in the forex markets.
Ranking Methodology: While assessing hundreds of forex brokers across the globe, and ranking the best forex brokers in Canada, some of the critical factors which influenced our judgments include; regulatory compliance and safety, trading fees (spreads, commissions, and overnight fees), non-trading fees, base currencies offered, payment methods, product offering, execution model, execution speed, assets, trading platforms, research, education, and customer support service.
Table of Contents
Best Forex Brokers in Canada
Following our in-depth review and ranking process, here are the best forex brokers in Canada;
- IG
- CMC Markets
- Forex.com
- Capital.com
- FXCM
1. IG
IG is a highly reputable global online broker and one of the largest CFD providers in the world in terms of revenue and trade volume. It was established in 1974 by IG Group plc, a publicly-traded company on the London Stock Exchange and a constituent of the FTSE 250 Index.
IG offers spread betting, stockbroking, and CFD trading across a wide variety of global markets, including forex, shares, indices, commodities, cryptocurrencies, options, bonds, interest rates, sectors, and ETFs with over 18,000+ instruments to trade.
Along with access to a wide array of global markets, you can also enjoy exceptional brokerage services such as deep liquidity, superior trade execution, volume-based rebates, sophisticated trading platforms, expert customer support service, and much more.
IG’s ease of use, advanced trading tools, range of markets, research, and rich education offering, make it an excellent broker for both beginner and professional traders. Also, active and high-volume traders are welcomed with exceptional trading conditions and volume-based rebates, which can help keep trading costs down.
IG Overview
Broker | IG |
---|---|
Regulation | CFTC, FCA, ASIC, FCA, FINMA, FMA, MAS, FSA, FSCA, DFSA, and BMA. |
Forex Pairs | 81 Currency Pairs |
Trading Platforms | ProRealTime, L2 Dealer, MetaTrader 4 |
Minimum Deposit | $300 |
Demo Account | Available | Open Demo Account |
Maximum Leverage | 1:222 1:30 (for ESMA clients) |
Account Currencies | USD, GBP, AUD, EUR, SGD, HKD. |
Payment Methods | Bank Wire Transfer, Credit/Debit Cards, Paypal |
Trading Tools | APIs, Virtual Private Server (VPS) |
Pros
- Strong regulatory framework.
- It is listed on the stock exchange.
- 45+ years of industry experience.
- 313,000+ clients worldwide.
- Deep liquidity.
- Volume-based rebates for high-volume traders.
- No minimum deposit for bank transfers.
- Industry-standard trading platforms.
- Low forex trading fee
- Excellent educational offering for beginner, intermediate and advanced traders.
- Outstanding research offering.
- Excellent customer support service.
Cons
- Inactivity fee charged (after two years of inactivity).
- No copy/ social trading platform.
2. CMC Markets
CMC Markets is a global Forex and CFD provider established in 1989 by CMC Group, a publicly-traded company listed on the London Stock Exchange and a constituent of the FTSE 250 Index.
CMC Markets offers forex, CFDs, and spread betting across a wide variety of global markets, including forex, indices, commodities, shares, ETFs, cryptocurrencies, and treasuries, with access to over 11,000+ instruments.
With more than 30 years of industry experience, CMC continues to offer its rapidly growing client base various unique trading solutions, such as advanced trading platforms, competitive pricing, superior order execution, and excellent customer support service.
CMC Markets offers a unique brokerage solution for beginner and professional traders. You would benefit from CMCs’ emphasis on ease of use, education, and excellent customer support service as a beginner. Experienced traders can also take advantage of its competitive pricing, higher leverage option, advanced trading platforms, and cash rebates.
CMC Markets Overview
Broker | CMC Markets |
---|---|
Regulation | ASIC, IIROC, BaFin, MAS, FCA, FMA, DFSA |
Forex Pairs | 300+ |
Trading Platforms | Next Generation platform, MetaTrader 4 |
Minimum Deposit | $0 |
Demo Account | Available | Open Demo Account |
Maximum Leverage | 1:500 |
Account Currencies | GBP, EUR, USD, AUS, CAD, NOK, NZD, PLN, SEK, SGD |
Payment Methods | Wire Transfer, Credit / Debit Cards, Electronic Payments. |
Trading Tools | FIX API, Virtual Private Server (VPS) |
Pros
- Strong regulatory framework.
- Over 30+ years of industry experience
- Great for beginners.
- Trusted by over 300,000+ global clients.
- Deep liquidity.
- Over 330+ currency pairs, including major, minor and exotic pairs.
- No minimum deposit.
- Industry-standard trading platforms in web, mobile and desktop versions.
- Fast order execution.
- Fast and secure payment methods.
- Excellent customer support service.
Cons
- Its product offering is limited to only CFDs.
- Withdrawal fee charged for international bank transfer.
3. Forex.com

Forex.com is a global FX and CFD provider founded in 2001. It is owned and operated by its parent company StoneX Group Inc, a publicly-traded company listed on the NASDAQ Stock Exchange (NASDAQ: SNEX).
Forex.com offers CFDs, spreads betting, and futures across over 9,500+ global markets, including forex, commodities, indices, stocks, metals, and cryptocurrencies, through institutional-grade platforms, excellent execution, and high-touch expertise.
Other outstanding brokerage solutions you can enjoy with Forex.com includes deep liquidity, competitive pricing, transparent fee structure, superior trade executions, low slippage, multiple account types, an Active Trade Program (which can reduce trading costs by up to 15%), multiple industry-standard trading platforms, education & research tools, VPS hosting and an excellent customer support service.
The brokerage solutions offered by Forex.com makes it an ideal broker for traders of all experience levels, although high-volume traders would benefit more from its services.
Forex.com Overview
Broker | Forex.com |
---|---|
Regulation | NFA (US), CFTC(US), FCA (United Kingdom), ASIC (Australia), FSA (Japan), IIROC (Canada) |
Forex Pairs | 80+ |
Trading Platforms | MT4, MT5, NinjaTrader, Web |
Minimum Deposit | $100 |
Demo Account | Yes (90 Days) |
Maximum Leverage | 1:50 EU/UK Clients – 1:30 |
Account Currencies | USD, EUR, CAD, JPY, CHF, AUD, GBP |
Payment Methods | Wire Transfer, Card Payment, Paypal. |
Trading Tools | VPS Hosting, Autochartist, Recognia, Smart Signals, Performance Analytics |
Pros
- Strong regulatory framework.
- 20+ years of industry experience.
- Parent company StoneX is a publicly-traded company listed on the NASDAQ Stock Exchange (NASDAQ: SNEX).
- Over 500,000+ clients worldwide.
- Multiple industry standard trading in mobile, web, and desktop versions.
- Fast order execution.
- Wide range of asset classes.
- Low minimum deposit.
- Fast and secure payment methods.
- Competitive pricing.
- Offers Active Trader Program, which helps reduce trading costs by up to 15%.
- Great customer support service.
Cons
- Limited payment methods
- Slow account verification process.
- The demo account is only available for 90 days.
4. Capital.com

Capital.com is a cutting-edge global online broker which offers CFDs across various asset classes, including indices, commodities, shares, ETFs, and cryptocurrencies, with over 6000+ instruments to trade.
Some outstanding benefits traders can enjoy with Capital.com include deep liquidity, low trading fee, tight spreads with zero commissions, fast order execution, industry-standard trading platforms, and great customer support service.
Capital.com suits traders of all experience levels, including beginners and professionals. Also its low minimum deposit and low trading fee also make it a great choice for traders with low capital and those looking for low trading costs.
Capital.com Overview
Broker | Capital.com |
---|---|
Regulation | ASIC (Australia), FCA (United Kingdom), CySEC (Europe), NBRB (Belarus) |
Forex Pairs | 138 |
Trading Platforms | Capital.com Web Platform, MetaTrader 4, TradingView |
Minimum Deposit | $20 |
Demo Account | Available | Open Demo Account |
Maximum Leverage | 1:500 |
Account Currencies | GBP, USD, EUR, PLN, AUD |
Payment Methods | Bank Wire Transfer, Visa, MasterCard, Skrill, Neteller, iDeal, Giropay, Przelewy24, QIWI, WebMoney, Trustly, Worldpay, and AstroPay |
Pros
- Strong regulatory framework.
- Easy account registration process.
- Low minimum deposit (from $20).
- Deep liquidity.
- Fast order execution.
- Industry-standard trading platforms in mobile, web, and desktop versions.
- Zero commissions.
- Free quality trading education, including online courses, guides, and webinars.
- Unlimited demo account duration.
- Great customer support service.
Cons
- MetaTrader 5 is not available.
5. FXCM

FXCM is a leading global online broker operated by Jefferies Financial Group Inc. (NYSE: JEF), a publicly-traded company listed on the New York Stock Exchange. It offers CFDs across various global markets, including forex, shares, indices, commodities, and cryptocurrencies, with over 400+ instruments available to trade.
Along with access to various global markets, other great trading solutions offered by FXCM include fast order execution, deep liquidity, multiple advanced trading platforms, multiple advanced trading tools, low minimum deposit, multiple fast & secure payment methods, quality education & market research offering, and excellent customer support service.
FXCM offers a well-rounded trading solution that caters to both beginners and professional traders. It also provides traders with advanced trading tools and great trading conditions, making it ideal for almost all trading styles and strategies, including day trading, scalping, hedging, and algorithmic trading.
FXCM Overview
Broker | FXCM |
---|---|
Regulation | ASIC (Australia), FCA (United Kingdom), FSCA (South Africa), CySEC (Europe) |
Forex Pairs | 45 |
Trading Platforms | Trading Station, MetaTrader 4, Ninja Trader, ZuluTrade, TradingView, Capitalise AI |
Minimum Deposit | $50 |
Demo Account | Available | Open Demo Account |
Maximum Leverage | 1:400 |
Account Currencies | EUR, USD, GBP, JPY |
Payment Methods | Bank Wire Transfer, Credit/ Debit Cards (Mastercard, VISA, and Discover), Cryptocurrencies, Skrill, Neteller, UnionPay, BPay, POLi, Klarna |
Pros
- Strong regulatory framework.
- Its parent company is listed on the New York Stock Exchange
- Hassle-free account registration process.
- Low minimum deposit.
- Deep liquidity.
- Fast order execution.
- Multiple industry-standard trading platforms in mobile, web, and desktop versions.
- Offers an Active trader account with tighter spreads and other great perks.
- Provides support for copy trading.
- Adequate support for algorithmic trading.
- Low minimum deposit.
- Multiple fast and secure payment methods.
- Quality education offering, including forex education, e-courses, forex, video tutorials, and webinars.
- Quality market research offering.
- Friendly and dedicated customer support service fast and helpful support.
Cons
- Limited product portfolio.
- Bank withdrawal fee.
- Inactivity fee charged after one year of account inactivity.