Unlike in the US where traders are permitted to deposit money with nationally-licensed brokers only, Canadian traders are able to trade with nearly any brokerage of their choice. Though only a handful of Forex brokers in Canada that are regulated within the country’s borders, we found that international brokers are both more prevalent and more popular in Canada. Forex brokers offer different services and trading conditions, and choosing the right one will depend predominantly on your trading strategy, and preferences.
Before depositing with any broker, take a look at our top 10 Forex brokers in Canada, chosen for their customer support during Canadian hours, trading conditions and ability to deposit and withdraw funds in CAD.
MetaTrader 4, Questrade FX
Investment Industry Regulatory Organization of Canada
Questrade, a well-rounded Canadian broker, opened its doors in 1999 and has since been improving its services, culminating in a ranking as one of Canada’s best managed companies in 2012. For the past two years, the firm has been ranked by Investor Economics as the fastest-growing online brokerage.
If you’re looking for a reputable Forex broker and the ability to trade over 50 currency pairs, Forex.com may be just the broker you’re looking for. Forex.com is operated by Gain Capital, a financial services company that’s been in business since 1999, and even a cursory look at Forex.com will confirm that this online trading website was developed by industry veterans. After depositing funds you’ll have access to a wide range of research charts, news headlines and online tutorials to help you make the best investments.
FXCM Holdings, LLC has been listed as one of the fastest growing companies by Inc. 500 List of America’s Fastest Growing Companies three years in a row (2004-2006). FXCM Holdings, LLC is headquartered in New York, with offices around the world including U.K., Japan, Hong Kong, France, Italy, and Australia, and is regulated and licensed in each of them. FXCM has over 165,000 tradable accounts on its platforms and a monthly average of over $250 billion in trade volume. See review of FXCM at DailyForex.com.
With offices in New York, Dublin, Sydney, Milan and Tokyo (among others), it should come as no surprise that AvaTrade is among the top Forex brokers in the world. Perhaps more importantly, AvaTrade is regulated by the Central Bank of Ireland and licensed by MiFID in the European Union; it is also regulated by ASIC in Australia, the Financial Services Commission (FSC) in Japan, and has regulation pending in the British Virgin Islands.
Many traders think of Forex trading an ‘independent sport’, but eToro is a Forex broker that negates this stereotype. In addition to offering a user-friendly traditional trading experience, eToro has pioneered the ‘social’ trading arena. The company’s OpenBook platform allows users to follow the trades of other users and to share their trading experiences, a give-and-take process that can revolutionize your personal trading strategy and the way the private trading arena functions.
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.