Top Canada Brokers for 2020

We found 11 online brokers that are appropriate for Trading Canadian.

Best Canadian Brokers Guide

Canada Financial Markets

Canadian Brokers

Canadian brokers are known as some of the best brokers across global financial markets. Canada has a stable and long history of its financial markets. The TMX is the biggest exchange in Canada.

Traders can also build up wealth in NASDAQ Canada, Canadian Securities Exchange (CSE), Montreal Exchange (MX) and ICE Futures Canada.

The Canadian dollar (CAD) is one of the top five most popular reserve currencies in the world and it amounts to about 2 percent of global reserves. This is due to economic soundness and political stability in the country. Canada has a stable legal procedure too. The legalization of cannabis in recent years has helped in moving economic graph even further.

The Canadian brokers come under the regulation of the Investment Industry Regulatory Organization of Canada (IIROC) while the financial institutions are monitored by the Financial Institutions Supervisory Committee (FISC).

Trading With Canadian Brokers

When you are looking for Canadian brokers to help and guide you for all your trading needs in Canada, to safely trade and increase the chances of your investment strategy being successful have a good understanding of the below:

Canadian Forex

Forex trading is the exchange of one country's currency with that of others' and the difference between the buy price and sell price is the profit of loss. Canada has a sound Forex market and almost all the Canadian brokers offer trading in it for clients.

Canada Contracts for difference (CFD)

CFD means speculating on the future price of an asset. CFDs benefit from offering traders increased leverage over the trades deposited amount. Can buy more stocks or currency for example thank you deposited amount. But be careful it is possible you could lose more than your deposited amount. It is common among most brokers in Cananda to offer clients CFDs. Assets such as stocks, stock index, currency pair, commodity and other such financial instruments can be traded as CFDs.

Canadian Demo accounts

Its best when starting out to learn and experience the markets with a demo account when trading in Canada. Register demo accounts with multiple brokers. Take time to understand the different platforms and tools. All Canadian brokers will allow you to start with a demo accounts, so that you don't risk real money. Demo accounts are a must if you have little trading experience or no knowledge about the financial markets. Demo accounts prepare you to start trading with a live account on live markets.

Trading opportunities in Canada

Traders find Canada to be one of the best financial markets for their investments. Getting credit in Cananda is easier than most countries. It is ranked 12th in the world. In terms of ease of doing business, the World Bank has ranked it 22nd. Small investors are well protected in Canada.

Trading challenges in Canada

The country is highly dependent on foreign trade like the United States and so the market may become volatile anytime. Currently, their is a trade tariff war is ongoing with the US and China. It is uncertain what the outcome will be of this. If the US is impacted negatively, the Canadian market will react the same way.

Last year the TMX exchange was partially shut down due to technical issues for about an hour and this had worried some of the operators.

Canadian Brokers Verdict

Even though the Canadian market relies mainly on foreign trade, it has been mostly favorable to traders. Canadian brokers are well regulated and offer industry standard trading platforms and trading conditions.

Best Canadian Brokers

We've collected thousands of datapoints and written a guide to help you find the best Canada Brokers for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best canadian brokers below. You can go straight to the broker list here.

Trading in Canada

When trading in Canada you will need to know what your options with your Canada trading broker are.

We list below the trading account types available in Canada. If you are looking for brokers in Canada that are suitable for trading in the Forex, CFD's, Indices and ETFs, Cryptocurrencies or commodity markets; this Canada broker guide will explain the things you should check and be aware of before you invest.

Forex Trading in Canada

Forex trading is growing in popularity in Canada. The volume of Forex traded in Canada has increased year on year over the last five years.

Across the world $5.1 trillion USD in volume is traded every single day. This is a huge amount in comparison with other financial market sectors.

Advances in online technology, higher internet coverage in Canada and increased competition among brokerages have made Forex trading more accessible and reduced the costs of trading generally.

Is Forex Trading Legal in Canada?

Their is a misconception that trading Forex on the financial market in Canada is considered unsafe. This is not the case, Forex trading in Canada is very active.

Trading in Forex is allowed in Canada as to conduct business currency must be exchanged. Forex is an integral part of import and export and investing internationally. The important thing is that when trading Forex you pick a safe and reputable broker that is regulated. Canada Forex trading is not banned, their are many international online brokers offering favourable trading conditions.

Do Forex Traders Pay Tax in Canada?

Once a traders profits reach a level where the income on the Forex trading can be taxed in Canada the trader should make sure all taxes owed for a financial year are paid. Canada taxes should be filed even if there were losses on the year. If Trading losses cannot be claimed against personal income taxes. A trader should file them with the proper government agency in Canada. You should seek advice with a Canada tax professional to ensure they are abiding by all proper tax laws in Canada. In Canada Islamic accounts do not have additional restrictions on trades.

Cryptocurrencies in Canada

Cryptocurrency markets in Canada are relatively new. Because Cryptocurrency works on decentralised assets in Canada things like interest rate changes and political instability do not affect cryptocurrencies as much as the currency markets in Canada for example.

Due to a large young population in Canada with growing income levels and wide spread adaptation of online technology cryptocurrency trading volume is increasing greatly in Canada. $6 billion USD worth of Bitcoin is traded daily around the world.

Commodity Trading in Canada

In Canada commodity trading includes the trade in precious metals, energies and agricultural commodities.

Some commodities like metals are seeing exponential growth in Canada since 2002.

Fast growing countries like China and India have been growing rapidly over the last 3 decades. This has meant that countries like China and India have a vast requirement for many basic commodities and raw materials for their populations. Crops to feed people and metal to build infrastructure for example. This means countries like Canada are able to take advantage of this demand.

We list brokers that allow you to trade commodities in Canada here.

Islamic Accounts in Canada

Canada brokers support Islamic accounts or swap-free accounts. Canada Islamic accounts have no rollover interest on overnight positions to comply the Muslim faith. Traders of Islamic faith are forbidden to pay interest. Brokers in Canada offer accounts that are suitable for Islamic traders. These Canada brokers complies with Sharia law.

Benefits of Trading in Canada

Canada economy and population is growing. The middle class population in Canada is increasing which means a growing consumer base. Many business and financial opportunities exist in Canada. Canada has a young population educated in technology and the internet.

Concerns of Trading in Canada

Canada digitisation of financial trading has made it easier to defraud unsuspecting investors across the internet. Make sure the broker you trade with is regulated and passes the checklist in this Canada guide. Educate yourself as much as possible open a demo account if necessary be you open a live trading account.

Learn about leverage when trading. Canada Brokers offering high leverage trades in Canada can mean high profit margins. But this goes both was it can also mean huge losses. There are things like negative balance protection and stop loss accounts which some Canada brokers offer as a level of protection. you can learn more about further below on this guide.

Reputable Canadian Brokers Checklist

There are a number of important factors to consider when picking an online Canadian trading brokerage.

It is not essential that your brokerage is local but they must have regulation from a Tier 1 reputable country. In fact the brokers international regulation could be more reputable than your local region.

When deciding to trade and find a suitable Canadian broker if you wish your broker to be 100% local check they are governed and regulated by the below.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering Canadian Brokers.

We compare these features to make it easier for you to make a more informed choice.

Top 15 Canadian Brokers of 2020 compared

Here are the top Canadian Brokers (CA).

Compare Canadian Brokers min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are canadian brokers. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more canadian brokers that accept canadian clients

Broker IC Markets XTB City Index Trading212 FP Markets Roboforex Pepperstone FXPrimus EasyMarkets HY Markets Forex.com
Rating
locality IC Markets accept Canadian clients XTB accept Canadian clients City Index accept Canadian clients Trading 212 accept Canadian clients FP Markets accept Canadian clients Roboforex accept Canadian clients Pepperstone accept Canadian clients FXPrimus accept Canadian clients easyMarkets accept Canadian clients HYCM accept Canadian clients Forex.com accept Canadian clients
Regulation Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS) Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F217 Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID) Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048 Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA)
Min Deposit 200 No minimum deposit 25 1 100 1 200 100 100 100 100
Funding
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
  • Bank transfer
  • Credit Card
  • Paypal
Used By 60,000+ 200,000+ 14,000+ 14,000,000+ 10,000+ 10,000+ 10,000+ 10,000+ 142,500+ 10,000+ 150,000+
Benefits
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Guaranteed stop loss
  • Offers Negative Balance Protection
Accounts
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • Raw Spread account
  • Islamic account
  • Pro account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Managed account
  • Demo account
  • Demo account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • ECN account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Managed account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Islamic account
  • Demo account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account
Spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
  • fixed spreads
  • variable spreads
Platforms MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps MT4, Web Trader, Tablet & Mobile apps MT4, Tablet & Mobile apps MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Learn More Sign Up with
icmarkets
Sign Up with
xtb
Sign Up with
cityindex
Sign Up with
trading212
Sign Up with
fpmarkets
Sign Up with
roboforex
Sign Up with
pepperstone
Sign Up with
fxprimus
Sign Up with
easymarkets
Sign Up with
hycm
Sign Up with
forexcom
Risk Warning Losses can exceed deposits 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. 74% of retail investor accounts lose money when trading CFDs with this provider CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Losses can exceed deposits Losses can exceed deposits CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money Losses can exceed deposits Your capital is at risk Losses can exceed deposits 73% of retail investor accounts lose money when trading CFDs with this provider
Demo IC Markets
Demo
XTB
Demo
City Index
Demo
Trading 212
Demo
FP Markets
Demo
Roboforex
Demo
Pepperstone
Demo
FXPrimus
Demo
easyMarkets
Demo
HYCM
Demo
Forex.com
Demo
Excluded Countries AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA US, IN, PK, BD, NG , ID, BE US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW US US, JP, NZ US, JP BR, KR, IR, IQ, SY, JP, US AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. US US BE

All Canadian brokers in more detail

You can compare Canadian Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.

We also have an indepth Top Canadian Brokers for 2020 article further below. You can see it now by clicking here

We have listed top Canadian brokers below.

Canadian Brokers List

IC Markets
(4/5)
Min deposit : 200
IC Markets was established in 2007 and is used by over 60000+ traders. Losses can exceed deposits IC Markets offers Forex, CFDs, Spread Betting, Share dealing, Cryptocurrencies

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Australian Securities and Investment Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
XTB
(4/5)
Min deposit : 0
XTB was established in 2002 and is used by over 200000+ traders. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. XTB offers Forex, CFDs, Cryptocurrency

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego
City Index
(4/5)
Min deposit : 25
City Index was established in 1983 and is used by over 14000+ traders. 74% of retail investor accounts lose money when trading CFDs with this provider City Index offers Forex, CFDs, Spread Betting

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Monetary Authority of Singapore (MAS)
Trading212
(4/5)
Min deposit : 1
Trading 212 was established in 2006 and is used by over 14000000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Trading 212 offers Stocks, Forex, Commodities, Indices

Funding methods

Bank transfer Credit Card Paypal

Platforms

Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
FP Markets
(4/5)
Min deposit : 100
FP Markets was established in 2005 and is used by over 10000+ traders. Losses can exceed deposits FP Markets offers Forex, CFDs

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Australian Securities and Investment Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC)
Roboforex
(4/5)
Min deposit : 1
Roboforex was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits Roboforex offers Forex, CFDs

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC)
Pepperstone
(4/5)
Min deposit : 200
Pepperstone was established in 2010 and is used by over 10000+ traders. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money Pepperstone offers Forex, CFDs, Social Trading

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F217
FXPrimus
(4/5)
Min deposit : 100
FXPrimus was established in 2009 and is used by over 10000+ traders. Losses can exceed deposits FXPrimus offers Forex, Social Trading

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), The markets in financial instruments directive (MiFID)
EasyMarkets
(4/5)
Min deposit : 100
easyMarkets was established in 2001 and is used by over 142500+ traders. Your capital is at risk easyMarkets offers CFD, Forex, Commodities, Indices, Shares, Crypto

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Web Trader, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC)
HY Markets
(4/5)
Min deposit : 100
HYCM was established in 1977 and is used by over 10000+ traders. Losses can exceed deposits HYCM offers Forex, CFDs

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, Tablet & Mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), FCA reference number 186171, Cyprus Securities and Exchange Commission (CySEC), CySEC license number 259/14, Cayman Islands Monetary Authority (CIMA), CIMA reference number 1442313, Dubai financial services authority (DFSA), DFSA license number 000048
Forex.com
(4/5)
Min deposit : 100
Forex.com was established in 1999 and is used by over 150000+ traders. 73% of retail investor accounts lose money when trading CFDs with this provider Forex.com offers Forex, Indices, Commodities, Equities, Cryptocurrencies

Funding methods

Bank transfer Credit Card Paypal

Platforms

MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps

Customer support

Live chat Phone support Email support

Account Types

Micro account Standard account Islamic account VIP account
Regulated by Financial Conduct Authority (FCA), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA)