Unlike in the US where traders are permitted to deposit money with nationally-licensed brokers only (NFA regulated brokers), Canadian traders are able to trade with nearly any brokerage of their choosing. With this in mind it's worth considering whether you want to choose a Canadian Forex broker based in your country (or in your state), or whether you want to expand your horizons and consider a broker that serves Canadian Forex traders while being based elsewhere.
The classification of the Canadian dollar (CAD) as one of the world's major currencies has made Canadian Forex trading both accessible and understandable to traders at all skill levels and in all geographic locations. Still, it's not enough to merely understand the market – it's just as critical to have a Forex broker that offers the best trading conditions for Forex trading in Canadian dollars (and all currency pairs). Start by determining which pairs you'll be trading. USD/CAD, also known as the "Loonie" is Canada's most popular Forex pair, but our traders also watch others including CAD/JPY, CAD/CHF, EUR/CAD and AUD/CAD. Start by checking each broker to make sure it offers the pairs you want. Next, check the spreads of each of the top Canadian Forex brokers to compare their offerings and determine where you'll pay the least commission.
You'll also want to check each Canadian broker's policy about swaps, rollovers a leverage, all of which will ensure that your trades will be executed exactly how you want them, and that your Canadian Forex experience will be as pleasant (and hopefully profitable as possible).
Best all-around: high floating leverage + fast execution
Sign Up - 20%
MetaTrader 4, MetaTrader 5
CySEC, FCA, IFSC
Competitive spreads + deposit insurance up to 1 million CAD
MetaTrader 4, Proprietary platform, Web-based
Instant withdrawals and deposits via Visa/Mastercards
MetaTrader 4, MetaTrader 5, Proprietary platform, Web-based
CySEC, FSC, BVI
Excellent trading conditions + NFA regulation
MetaTrader 4, Proprietary platform
CFTC, FCA, NFA, FSA, ASIC, IIROC, SFC, CIMA, MAS
No dealing desk execution + wide range of trading apps