Best Forex Brokers To Trade With in Canada for 2020

Forex Trading In Canada

Forex trading has seen a significant increase in popularity across Canada over the past few years. The Canadian Dollar (CAD), also called the loonie, is one of the worlds top currencies. This is because Canada’s economy it is one of the most developed economies in the world. E-commerce and online business in general are booming in the country as the infrastructure allows fast growth. As a result, forex trading is both accessible and understandable to traders at all skill levels, professional or newbies.

Forex trading is legal in Canada, but is considered highly regulated. Local residents are advised to trade with a broker who is authorized and regulated by the Investment Industry Regulatory Organization of Canada (IIROC) – https://www.iiroc.ca/

If you want to learn more about forex trading and how it works , click here to visit our Beginners Guide to Forex.

Featured Forex Brokers

We decided to do all the hard work for you and guide you through the all the noise of the financial betting market. Our team of expert analysts, has created a unique collection of forex broker reviews, based on various criteria and data points for you to choose from.

Markets.com

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FPMarkets

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Veracity Markets

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CMTrading

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Forex Regulation in Canada

The Investment Industry Regulatory Organization of Canada (IIROC) is the regulatory body for all financial services and activities in Canada. IIROC is a national self-regulatory organization that was first established as a non-profit corporation back in 2008. This organization is part of the consolidation of the Investment Dealers Association of Canada (IDA) and the Maket Regulation Services Inc. (RS). Therefore, IIROC is respectfully recognized by the Canadian Securities Administrators (CSA) which includes all Canadian provinces and regulatory bodies. Nevertheless, it is not required to get authorization from the IIROC in order to offer financial services and forex trading to the residences of Canada.

However, it is advised to choose a regulated broker with a Tier 1 license like Cysec, FCA, FSCA or ASIC to make sure your funds are protected.

Top Brokers

Best Forex Brokers In Canada

Here is a breakdown of the best forex brokers to trade with in Canada:

  • XMLow trading Cost, High Leverage
  • FP Markets – Best Execution 
  • GlobeX360Excellent all round offering, High Leverage
  • IQOptionBest Performance Overall
  • AvatradeGreat Trading Platform
  • Etoro – Best Copy Trading Platform
  • Octafx – Great Customer Support
  • OlympTrade – Best Mobile Trading App

Broker Comparison List In Canada

Methodology

All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. We analyze more than 3000 data points across 8 key focus areas. 

Our reviews are a combination of data research and working along side with the brokers. All information povided by the brokers are double checked to guarantee 100% accuracy and that we remain unbiased.

Read more about our methodology and how we do our tests and reviews here.