8 Best Forex Brokers in Canada for 2025

PU Prime stands out as a global Forex broker that accepts Canadian traders, even without 🇨🇦 IIROC licensing. These demo accounts generally do not expire and can be topped up, providing a risk-free environment to test strategies. Additionally, they support the popular MetaTrader 4 (MT4) platform, and integrate with TradingView for its charting capabilities, providing diverse options for traders. MultiBank Group provides multiple platforms to suit different trading styles and experience levels. Using his experience, he helps traders find the best broker in his reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Fees

Whether you’re just embarking on your trading venture or trying to level up your trading game, our resources are designed to give you all the information you need. It’s important to know that this is like the 0% level but might be worded differently based on broker terminology. The broker will typically close the most unprofitable positions first, and if that’s not enough to bring the margin level back above 50%, more positions will be closed until it’s achieved. Here, if the margin level drops to 50%, the broker will start closing out positions.

Recommended Brokers

Further, thanks to Arincen, users can keep an eye on market-price developments, as well as the latest news. The main reason they differ is due to their reaction to market conditions. This type of spread is a direct reflection of market supply and demand. During times of low liquidity or high volatility, variable spreads can widen. They don’t change during the day and are generally set by the broker.

Trading Tools

Full support for MT4 and MT5 is provided, alongside Avatrade’s proprietary online trading platform. Avatrade has partnered with Friedberg Direct in Canada, meaning that all accounts are held with the investment firm. Avatrade is well known in the forex trading scene thanks to its stellar reputation and excellent fee structure. Prior to engaging in CFD trading, you should ensure that you fully understand the risks involved, carefully consider your investment objectives, financial situation, and level of experience, and seek independent advice where necessary.

Aside from that, Avatrade allow you to trade the forex market with 0% commissions – ensuring you’re able to save substantial amounts of money in the long run. However, if you’re looking to start trading right away, we’d recommend opening an account with Avatrade. You’ve just completed your first trade with the best Canadian forex broker – all without paying any commissions! Head to Avatrade’s trading platform and type in the ticker symbol of the pair you’d like to trade. Certain deposit types may come with a cost attached – for example, some brokers will charge a fee for using your credit card to make a deposit.

Some brokers may also offer ECN (electronic communication network) accounts where your trades are matched to prices from different liquidity sources in an anonymous network. Most brokers offer a variety of different trading accounts to their clients. As a professional trader myself, I found it great that FP Markets offers ECN pricing on its forex accounts. I also discovered that PU Prime offers Canadian traders several account types, all of which support copy trading. Read our reviews to learn more about these brokers, their trading platforms, spreads, regulation, and more.

Best IIROC-Regulated Broker

Aside from fees, Interactive Brokers also offer a good selection of trading platforms that will appeal to advanced traders. OANDA’s platform is where the broker really shines, as it offers forex traders a multitude of charting options and indicators to use. OANDA is one of the IIROC regulated forex brokers on our list – ensuring Canadian traders are afforded the highest levels of protection possible.

As a trader, you could be exposed to excessive leverage, questionable broker tactics, market volatility, and limited regulatory protection. In order to avoid such disappointments at a later stage, it is wise to take your first steps with a Canadian forex broker that is regulated by the authority. 60-90% of retail traders lose money trading Forex and CFDs. Most new traders should focus on learning and managing risk rather than quitting their job. Smaller trades with tighter risk limits and higher leverage require less money to start, but managing risk carefully remains essential regardless of the account size.

• Engaging in high leverage trading without a robust risk management strategy is like navigating treacherous financial waters without a safety net.
• After testing 80 brokers this year, our experts have identified the 8 best options tailored to diverse trading needs, complete with practical tips.
• Been trading with vt markets now for 2 years and I love it.

The broker’s parent company, StoneX Group, is listed on the NASDAQ – highlighting how reputable Forex.com is. Established in 2001, Forex.com has a solid track record as a reliable and low-cost broker. This commission works under a tiered structure, whereby commissions get lower depending on how active you are in the market. This means that spreads can be extremely low – as low as 0.1 pips for specific pairs. Notably, Interactive Brokers has been around since 1978 and is regulated in Canada by the IIROC and the CIPF.

Interactive Brokers – Best Forex Broker Canada with Stellar Reputation

These three offer a safe and optimal trading environment for Canada-based forex traders. The best Canadian forex brokers include Avatrade, OANDA, and Interactive Brokers. Forex brokers help facilitate canadian forex review the buy and sell positions of forex traders, ensuring trades can be opened immediately, and positions can be closed when the trader wishes.

This backing provides a solid level of credibility to FXCM’s services and ensures traders are safe when operating in the markets. If you are interested in forex brokers accepting Canadian clients, with a particular emphasis on user-friendliness, then OANDA certainly fits the bill. With that in mind, this section reviews five of the best forex brokers in Canada, breaking down their services and helping you make the best decision for your unique situation.

• FOREX brokers charge any combination of commissions, spreads, and financing fees.
• A serious trader picks a broker that performs well under real market pressure, not just on paper.
• Our team of more than 20 people collaborate extensively to produce high-quality broker reviews like this one.
• However, Oanda provides a range of different trading accounts where you can access better spreads.

How Did FXEmpire Choose the Best Forex Brokers in Canada?

Also, make sure to check out our comprehensive guide on the best Forex brokers where we take a deep dive into things to consider when selecting a Forex broker. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The broker’s buy rate will be less than the rate they would sell at – and the difference between the two is the spread. The spread is the difference between the price the broker is willing to buy at and the price the broker will sell at. On the other hand, the spread is the difference between the buy and sell prices of a currency – the broker will retain this difference as their ‘cut’.

Despite your best trading techniques and risk management strategies, your efforts may not be profitable, and you could suffer losses. There is a high degree of risk involved in trading securities like FOREX, or CFDs, which are highly complex instruments. With so many choices out there, it’s hard to select the best trading platform in Canada. Each year, we gather 120 data points from more than 100 brokers. The office of the Canadian Securities Administrators (CSA) regulates forex trading in Canada. Safety and security are key selection criteria when choosing a forex broker.

Put simply, Arincen is a social networking platform that brings together traders and experts to exchange expertise and ideas. Regardless of the experience level of the trader, they can find a pricing tier that suits their needs, while still getting all the best the broker has to offer. We found ICM’s ECN account to be unmatched for low fees and spreads. Remember that trading involves risks, and it’s important to have a solid understanding of the financial instruments you’re trading and the risks that come with the territory. On the other hand, variable spreads can offer lower costs during normal market conditions but can widen and become more expensive during volatile times. Imagine you have a trading account with a balance of $10,000, and you’ve opened several positions in the market.

Best Forex Brokers for Beginners in 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. We found that AvaTrade’s forex trading fees were better than the industry average with spreads on EUR/USD during the London session less than 1.0 pip on average. I checked the fee competitiveness of the Standard account, which features commission-free trading, floating spreads from 1.3 pips, and a $50 deposit requirement. With the app’s flexible parameters, traders can exercise tight risk management by regulating their overall market exposure. I learned that the broker offers social and copy trading via the PU Prime App. Also, MultiBank provides FIX API solutions for Direct Market Access (DMA) trading so that traders can obtain raw spreads directly from an exchange’s order books.