Top 10 Forex Brokers in Canada

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.
Broker Name Min. Deposit Bonus Trading Platform Max. Leverage Regulation Rating More Info
AvaTrade $100 $100 MetaTrader 4 1:400 Central Bank of Ireland, MiFID
9.6/10
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Questrade $1000 None MetaTrader 4, Questrade FX 1:- Investment Industry Regulatory Organization of Canada
9.5/10
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FOREX $500 Free ebook FOREX Trader PRO, MetaTrader 4 1:50 NFA Accepts US client
9.4/10
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4 FXCM $50 None FXTS 1:50 RFED, FCM, CFTC Accepts US client
9.2/10
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5 eToro $50 $100 WebTrader, eToro OpenBook, Social Trading 1:400 NFA, FSA BaFin Accepts US client
8.5/10
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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.

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.

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.



Help me choose a broker

Welcome to our "Help Me Choose A Broker" lobby. We are happy to provide all DailyForex.com clients with this special service, which assists traders with finding the broker that fits their trading meets. All you have to do is fill in your trading information in 3 steps below, and will connect you with the broker who is most compatible for you.

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