Top Canada Brokers for 2024
We found 11 online brokers that are appropriate for Trading Canadian.
Best Canadian Brokers Guide
Analysis by Andrew Blumer, Updated December 06, 2023
Canada Financial Markets
Canadian Brokers
Brokers in Canada are known to be some of the most prominent across international financial markets. Canada has had a long yet lucrative financial history, the TMX being the most prominent Canadian exchange.
Traders can also accrue wealth in the CSE, NASDAQ Canada, MX (the Montreal Exchange), 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 the economic graph even further.
The Canadian brokers come under the regulation of IIROC (or the Investment Industry Regulatory Organization of Canada) while the financial institutions are monitored by the Financial Institutions Supervisory Committee (FISC).
Online Brokerages In Canada
Online brokerage is another term for online brokers in Canada. Whether clients are selling stocks or trading forex, an online broker can provide aid over the internet. Online brokers can educate clients on international trading or provide financial advice among other customer support services for a commission fee. Compared to physical offices, online brokerages have a lower cost in comparison. Additionally, virtual brokers can also provide resources to an active trader whos interested in self directed investing.
A stock broker works as a medium that can sell stocks on behalf of clients. An online broker can execute trades and purchases on behalf of clients. They also manage clients' brokerage accounts as well but will charge account maintenance fees for doing so.
Types of Canadian Online brokers
It is worth noting however there are two types of online brokers that investors will find, discount brokers and full-service brokers.
A discount brokerage offers investors all the trading tools they need to trade stocks or swap currencies. Discount brokerage requires a minimum deposit for giving away financial instruments and allowing investors to access an online trading platform as a means of self-directed trading similar to ci direct trading. Trading fees are much lower with discount brokers along with account fees.
On the other hand, a full-service online brokerage platform can manage retail investor accounts, provide guidance on investment decisions, and so much more. The downside is the account maintenance fees and trading fees that are much higher than what investors will find with a discount brokerage. General management fees are high but the range of services a broker can are numerous.
Regardless of who you choose, remember to only opt for a virtual broker who has guaranteed investment certificates as it ensures their legitimacy.
Why Choose an Online Broker in Canada?
Online brokers have different specializations that they can offer to traders. Stock trading, forex trading, or another form of investments can be tedious for newcomers. virtual brokers in general can allow retail investors to control their investments in a refined manner. An online broker can also give investment advice and act as a medium in online trading as well. Some of the best online brokers give investors access to the stock market via a trading platform that utilizes next-gen technology and financial tools. Managing an investment account becomes easier with online brokerages in Canada.
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 Regulatory Authority
Canadian online brokerages are regulated to ensure the protection of retail investors and customers. Every financial institution in the state is regulated by the Financial Consumer Agency of Canada. Online brokers in Canada all abide by the regulations of the FCAC which reinforces the Canadian investor protection fund policies. In addition to protecting consumer funds, the Agency also implements negative zero balance protection from online stock brokers and oversees all markets in the state. Canadian investors can rest assured when signing up with regulated online trading platforms from the FCAC in allegiance with the national bank.
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 or 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 your deposited amount. But be careful because you could lose more than your deposited amount. It is common among most brokers in Canada to offer clients CFDs. Assets such as stocks, stock indexes, currency pairs, commodities, and other such financial instruments can be traded as CFDs.
Canadian Demo Accounts
When you start trading in Canada, it helps to explore the markets via a demo account. Register demo accounts with multiple brokers. Take time to understand the different platforms and tools. A majority of Canadian brokers will let you begin with a demo account. This way, you will not have to risk your real capital in the beginning. These types of accounts are crucial if you have inadequate experience in trading or no prior information about the Canadian financial markets. Demo accounts help by giving you a simulated trading environment so you can practice trading before actually doing it with real capital.
Trading opportunities In Canada
Traders find Canada to be one of the best financial markets for their investments. Getting credit in Canada is easier than in 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, there is a trade tariff war is ongoing between 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 worried some of the operators.
Things To Know About Trading In Canada
Before going on to trade in Canada, below are the facts you should be aware of before doing anything else:
The Prices Will Be in CAD
When you go through stock quotes on Canadian exchange platforms, you will see a majority of assets with their prices listed in CAD, in place of the usual currency used on Wall Street, i.e., USD> Even though some trading platforms will let you switch through the displayed currencies, the online listings will by default list Canadian securities in their national currencies, i.e., CAD. For reference, use a currency conversion calculator – you will come across many for free. To improve your trading experience, consider converting prices back to your locally used currency.
The Markets In Canada Are Not As Liquid
Even though the Canadian stock market may see expansion daily, when compared to the American market, it still has a long way to go. The net market cap of the TSE (or the Toronto Stock Exchange) is around 2.28 USD trillion compared to the 30.2 trillion USD on the NYSE.
This indicates that the stock shares are dealt with a lot less often on the stock market in Canada in comparison to the American stock market. If you plan to trade every day via a Canadian firm, keep in mind this fact when coming up with your trading techniques and strategies.
This is particularly crucial when diversifying your trading portfolio. While you can try diversifying by utilizing Canadian stocks, you will reach a dead-end soon enough. You might have to look for other investment forms; such as silver, gold, bonds, commodities, cryptocurrencies, etc.
Different Canadian Brokers Offer Different Equities
In the US, a majority of brokerages provide various types of equities to amplify their commissions and attract more prestigious traders. It is commonplace for Canadian brokers specializing in stock offerings to also allow traders to trade futures contracts, options, ETFs, mutual funds, currencies, and cryptocurrencies.
Online equity trades in Canada vary greatly based on the broker offering them. Hence, it helps to make sure your broker provides all the assets you want to trade before you can set up an account or deposit funds.
Canadian Trading Accounts Often Come With Maintenance Charges
It is not common in the US for a brokerage account to charge dormancy or maintenance fees; that is unless the brokerage only targets seasoned traders. In Canada, most brokerage firms impose annual fees or service fees unless the trader manages to make a vast majority of trades or has access to a high-value trading account.
The best-known brokerage firms establish a low account minimum to steer clear of annual charges. These minimums, however, may go as high as 5K CAD. In this case, it should not surprise you when you find out that annual fees are inescapable for most traders. Consider your potential brokerage’s annual charges when deciding on a brokerage.
Canadian Brokers Come With Different Types Of Tax-Advantaged Accounts
US brokers are usually accustomed to multiple account types. When you set up an account with a Canadian broker, you may be restricted to two account types, i.e., RRSPs (or Registered Retirement Savings Plans) or taxable trading accounts.
Anyone younger than 69, regularly paying salary taxes to the government, will most likely be eligible for an RRSP. An RRSP is similar to a conventional US-based IRA account in terms of tax functions. If you are not a Canadian local, you will most likely be eligible for a basic taxable account.
What To Look For In A Trading Platform In Canada
The following are the factors to look out for in a Canadian trading platform:
Low Commissions And Other Fees
Low commission charges are integral for investors, and more so for traders. Whenever a trader’s trading activities increase, they have to pay commission fees more often. It is rare to come across a stock broker offering commission free trades in Canada. In this case, even 1 CAD per transaction can eventually amount to a lot. Hence, it is crucial to focus on commission fees.
Charting Tools
Investors are usually fixated on fundamental analyses to make investment decisions. Traders, on the other hand, use charts to figure out their next moves. Hence, a trading platform with numerous options for creating charts should be considered mandatory, most particularly tools targeting the indicators you may need.
Access To Data
Short-term trading is normally dependent on access to fast and accurate data. For example, price quotes that lag would be considered no-goes for a majority of traders as they will normally seek access to a vast range of real-time indicators.
Trading Product Access
While it is viable to trade ETFs and stocks, a lot of trading products are geared towards traders and may not be available on all sorts of platforms. Such products usually include precious metals like silver and gold, currencies and cryptocurrencies, options, naturally derived resources, and futures products.
Mobile Application
Since time is of the essence for all successful traders, it helps to have access to a trading platform you can access when you are away from your computer. Most broker platforms today offer applications. However, not all of them offer a full-fledged platform or offer the type of interface a trader may need for trading stocks on the go.
Trading Platforms to Start in Canada
Financial institutions in Canada are numerous for investors to start trading at. Youthful clients can take advantage of the trading tools and accounts offered by the institutions.
Some common names that Canadian investors can start at including the following
CI DIrect investing
CI direct trading makes self-directed trading convenient and easy. Investors can trade in commission free ETFs or invest in other projects as well. They also provide services at low fees and provide smart tools.
CIBC Investor Services inc
CIBC investor services inc provides a combination of investment services. They also provide estate and tax planning assistance as well and provide guidance on finances. The institution has a subsidiary CIBC investor's edge which features an upgraded trading platform and refined website interface as well as financial services. <./p>
RBC direct investing
RBC direct investing provides management services, treasury, and investment services along with tools to provide self-directed investing. RBC's account maintenance fee is adequate for Canadian investors.
Interactive brokers
One of the best Canadian brokers is Interactive. The establishment features satisfactory stock brokers offer, ETF trading, and a separate line of services for non registered accounts. Ultimately it is their trust and professionalism that make them one of the best online brokerage firms in Canada.
Canadian Brokers Verdict
Although the Canadian trade market is mainly dependent on overseas trade, traders have benefited from it the most. Canadian brokerage firms are thoroughly regulated and provide top-tier trading platforms and conditions.
We have conducted extensive research and analysis on over multiple data points on Canada Brokers to present you with a comprehensive guide that can help you find the most suitable Canada Brokers. Below we shortlist what we think are the best canadian brokers after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Canada Brokers.
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 (availability subject to regulation) 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 and their availability are subject to local financial regulation. 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
Selecting a reliable and reputable online Canadian trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Canadian more confidently.
Selecting the right online Canadian trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
- Ensure your chosen Canadian broker has a solid track record of at least two years in the industry.
- Verify that the Canadian broker has a customer support team of at least 15 members responsive to queries and concerns.
- Check if the Canadian broker operates under the regulatory framework of a jurisdiction that can hold it accountable for any misconduct or resolve disputes fairly and impartially.
- Ensure that the Canadian broker can process deposits and withdrawals within two to three days, which is crucial when you need to access your funds quickly.
- Look for Canadian brokers with an international presence in multiple countries, offering its clients local seminars and training programs.
- Ensure the Canadian broker can hire staff from diverse locations worldwide who can communicate fluently in your local language.
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.
- British Columbia Securities Commission (BCSC)
- Canadian Investor Protection Fund (CIPF)
- Financial Transactions and Reports Analysis Center of Canada (FINTRAC)
- Investment Industry Regulatory Organization of Canada (IIROC)
- Ontario Securities Commission (OSC)
- Ombudsman of Banking Services and Investments (OBSI)
- The Cayman Islands Monetary Authority (CIMA)
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
Compare Key Features of Canadian Brokers in Our Brokerage Comparison Table
When choosing a broker for canadian trading, it's essential to compare the different options available to you. Our canadian brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
- Minimum deposit requirement for opening an account with each canadian broker.
- The funding methods available for canadian with each broker.
- The types of instruments you can trade with each canadian broker, such as forex, stocks, commodities, and indices.
- The trading platforms each canadian broker provides, including their features, ease of use, and compatibility with your devices.
- The spread type (if applicable) for each canadian broker affects the cost of trading.
- The level of customer support each canadian broker offers, including their availability, responsiveness, and quality of service.
- Whether each canadian broker offers Micro, Standard, VIP, or Islamic accounts to suit your trading style and preferences.
By comparing these essential features, you can choose a canadian broker that best suits your needs and preferences for canadian. Our canadian broker comparison table simplifies the process, allowing you to make a more informed decision.
Top 15 Canadian Brokers of 2024 compared
Here are the top Canadian Brokers (CA).
Compare canadian brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a canadian broker, it's crucial to compare several factors to choose the right one for your canadian needs. Our comparison tool allows you to compare the essential features 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 |
XTB
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FP Markets
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EasyMarkets
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SpreadEx
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FXPrimus
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forexmart
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Eightcap
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ForTrade
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IB
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Forex.com
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IG
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| locality | XTB accept Canadian clients | FP Markets accept Canadian clients | easyMarkets accept Canadian clients | SpreadEx accept Canadian clients | FXPrimus accept Canadian clients | ForexMart accept Canadian clients | Eightcap accept Canadian clients | ForTrade accept Canadian clients | Interactive Brokers accept Canadian clients | Forex.com accept Canadian clients | IG accept Canadian clients |
| Regulation | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) | Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Investment Industry Regulatory Organization of Canada (IIROC), National Bank of the Republic of Belarus (NBRB) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), The Australian Securities and Investments Commission (ASIC), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA), Commodities Futures Trading Commission (CFTC), The Monetary Authority of Singapore (MAS), Financial Services Agency (FSA), The Securities and Futures Commission (SFC), Cyprus Securities & Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) |
| Min Deposit | No minimum deposit | 100 | 100 | 1 | 100 | 1 | 100 | 100 | 10000 | 100 | No minimum deposit |
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| Used By | 847,000+ | 10,000+ | 142,500+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ | 1,000,000+ | 10,000+ | 200,000+ | 239,000+ |
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| Platforms | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4,WEB,desktop | MT4, Tablet & Mobile apps | MT4, Binary, Tablet & Mobile apps | Web Trader, NinjaTrader, Tablet & Mobile apps | MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps | MT4, Mac, Web Trader, L2 Dealer, Tablet & Mobile apps |
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| Learn More |
Sign
Up with xtb |
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Up with fpmarkets |
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Up with easymarkets |
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Up with spreadex |
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Up with fxprimus |
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Up with forexmart |
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Up with fortrade |
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Up with interactivebrokers |
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Up with forexcom |
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| Risk Warning | 77% 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 | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% 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. | Spread bets and 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 spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. |
| Demo |
XTB Demo |
FP Markets Demo |
easyMarkets Demo |
SpreadEx Demo |
FXPrimus Demo |
ForexMart Demo |
Eightcap Demo |
ForTrade Demo |
Interactive Brokers Demo |
Forex.com Demo |
IG Demo |
| Excluded Countries | US, IN, PK, BD, NG , ID, BE, AU | US, JP, NZ | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US, TR | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. | RU | US | US | US | BE | US, BE, FR, IN, IL, PL, ZW |
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 2024 article further below. You can see it now by clicking here
We have listed top Canadian brokers below.
Canadian Brokers Table of Contents
- Financial Markets in Canada
- Online Trading in Canada
- Forex Trading in Canada
- Is Forex Trading Legal in Canada
- Do Forex Traders Pay Tax in Canada
- Cryptocurrencies in Canada
- Commodity Trading in Canada
- Islamic Accounts in Canada
- Benefits of Trading in Canada
- Concerns of Trading in Canada
- Canadian Brokers Explained
- 6 Factors to Consider when Choosing Canadian Brokers
- Are Your Canadian Brokers Trusted And Established?
- Are The Canadian Brokers World Leading?
- What are the Canadian Brokers Commissions and Fees?
- What are the Canadian Brokers Funding and Withdrawl Methods?
- Find Canadian Brokers with Round-the-clock support?
- Make sure the Canadian Brokers Offer Comprehensive Trader resources?
- Why Canadian Brokers needs to be regulated?
- Canadian Brokers FAQ
- What are the best Canadian brokers?
- What is the best Canadian broker?
- Is Forex Trading Legal in Canada?
- Do Forex Traders Pay Tax in Canada?
- How do you trade Forex or CFDs in Canada?
- Related Canadian Brokers Reviews
- Related Canadian Brokers Alternatives
- Related Canadian Brokers Comparisons
Canadian Brokers Explained
Trading volatile financial markets with Canadian Brokers can be challenging, even for experienced traders. In addition to the online educational resources available, traders should consider the platform offered by Canadian Brokers to ensure a successful trading experience.
Selecting Canadian Brokers at the forefront of innovation and considered an industry leader is crucial. Doing so will ensure you are equipped with the tools and features to navigate volatile Canadian markets effectively.
Reliability is key to gaining access to financial markets. Look for Canadian Brokers that you can rely on to provide a stable and secure trading environment, allowing you to execute trades with Canadian Brokers confidently.
6 Factors to Consider when Choosing Canadian Brokers
Follow these five rules for selecting Canadian Brokers that are right for you:
Are Your Canadian Brokers Trusted And Established?
Search for a reputable Canadian Brokers with a extensive proven track record for Canadian, enabling you to focus solely on implementing your trading strategy and navigating the markets with confidence. The top rated Canadian broker is XTB. Established in 2002, and in operation for 16 years XTB have a head office in Poland.
XTB is regulated. This means XTB are supervised by and is checked for conduct by FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) regulatory bodies.
Another top rated broker is FP Markets.
FP Markets was established 2005, and in operation for 15 years FP Markets have a head office in Australia.
FP Markets is regulated. This means FP Markets are supervised by and is checked for conduct by FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) regulatory bodies.
| Broker |
XTB
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FP Markets
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EasyMarkets
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SpreadEx
|
FXPrimus
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forexmart
|
Eightcap
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ForTrade
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|---|---|---|---|---|---|---|---|---|
| Year Established | 2002 | 2005 | 2001 | 1999 | 2009 | 2015 | 2015 | 2014 |
| Head Office | Poland | Australia | Cyprus, Australia | UK | Cyprus | Cyprus | Australia | UK |
| Regulation | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) | Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Investment Industry Regulatory Organization of Canada (IIROC), National Bank of the Republic of Belarus (NBRB) |
| Used By | 847,000+ | 10,000+ | 142,500+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ | 1,000,000+ |
| Negative balance protection | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Guaranteed Stop Loss | No | No | Yes | Yes | No | Yes but 10% | No | No |
| Learn More | Visit XTB | Visit FP Markets | Visit easyMarkets | Visit SpreadEx | Visit FXPrimus | Visit ForexMart | Visit Eightcap | Visit ForTrade |
| Risk Warning | 77% 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 | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | Your capital is at risk |
Are The Canadian Brokers World Leading?
Opt for Canadian Brokers that set themselves apart as an industry leader by actively embracing innovation. Take XTB as an example, which is renowned for Segregates clients funds and boasts an extensive array of 5600 tradable instruments. Moreover, XTB caters to the needs of its clients with both an online trading platform and a mobile application, making it incredibly convenient to access the markets from anywhere, at any time.
In addition, the XTB platform enables access to a variety of financial markets worldwide. XTB is a world-leader when it comes to innovation and they are always looking at ways to improve and to maintain their competitive advantage.
Another good choice when looking for Canadian Brokers is FP Markets. FP Markets Segregates clients funds and offers over 290 instruments.
| Broker |
XTB
|
FP Markets
|
EasyMarkets
|
SpreadEx
|
FXPrimus
|
forexmart
|
Eightcap
|
ForTrade
|
|---|---|---|---|---|---|---|---|---|
| Instruments Available | 5600 | 290 | 200 | 15000 | 130 | 111 | 100 | 100 |
| Platforms | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4,WEB,desktop | MT4, Tablet & Mobile apps | MT4, Binary, Tablet & Mobile apps |
| Excluded Countries | US, AU, CA, JP, KR, KP, SG, MU, IL, TR, IN, PK, BA, ET, UG, CU, SY, BD, NG, ID, BE, LY, MO, KE, YE, VU, GY, CD, CG, AF, LA, MZ, IQ, IR | US, JP, NZ | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR,US, AU, SY, DZ, JP, EC. | RU | US | US |
| Forex pairs offered | 57 | 70 | 150 | 55 | 45 | 100 | 45 | 70 |
| Forex pairs offered | 57 | 70 | 150 | 55 | 45 | 100 | 45 | 70 |
| Major forex pairs | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes |
| Cryptocurrencies (availability subject to regulation) | Yes | Yes | Yes | Yes | No | Yes | No | Yes |
| Commodities Offered | 21 | 18 | 12 | 16 | 0 | 0 | 0 | 0 |
| Metals | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
| Energies | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
| Agricultural | Yes | Yes | Yes | Yes | No | Yes | No | |
| Stocks Offered | 1696 | 10000 | 52 | 1000 | 60 | 53 | 0 | 190 |
| UK Shares | Yes | Yes | Yes | Yes | Yes | Yes | No | |
| US Shares | Yes | Yes | Yes | Yes | Yes | No | No | |
| German Shares | Yes | Yes | Yes | Yes | No | No | Yes | |
| Japanese Shares | Yes | Yes | Yes | Yes | No | No | Yes |
What are the Canadian Brokers Commissions and Fees?
Ensure that your broker is transparent with fees and those dues are competitive.
The best rated Canadian broker XTB offers competitive offers for Forex, CFDs, Cryptocurrency. XTB minimum deposit is 0.
Another top rated Canadian broker FP Markets offers Forex, CFDs. FP Markets minimum deposit is 100. Please note that any cryptocurrency availability with any broker is subject to regulation.
| Broker |
XTB
|
FP Markets
|
EasyMarkets
|
SpreadEx
|
FXPrimus
|
forexmart
|
Eightcap
|
ForTrade
|
|---|---|---|---|---|---|---|---|---|
| Min Deposit | 0 | 100 | 100 | 1 | 100 | 1 | 100 | 100 |
| Withdrawl Fees | varies | No | No | 0, minimum £50 | Varies | 5 | Yes | No |
| Inactivity Fees | Yes | No | No | No | No | No | No | |
| Deposit Fees | No | Yes | No | No | Varies | Yes | Yes | |
| CFD Commission Fees | Yes | Yes | No | No | No | Yes | Yes |
What are the Canadian Brokers Funding and Withdrawal Methods?
Efficient and hassle-free funding and withdrawal facilities can significantly improve your overall trading experience when dealing with Canadian Brokers. It streamlines the trading process and helps you focus on making informed decisions rather than worrying about deposit and withdrawal matters with Canadian Brokers.
| Broker |
XTB
|
FP Markets
|
EasyMarkets
|
SpreadEx
|
FXPrimus
|
forexmart
|
Eightcap
|
ForTrade
|
|---|---|---|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Credit Cards | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Paypal | Yes | Yes | No | No | No | No | No | Yes |
| Skrill | Yes | Yes | Yes | Yes | No | Yes | No | No |
| Payoneer | Yes | No | No | Yes | Yes | No | Yes | Yes |
| Neteller | Yes | Yes | Yes | No | Yes | Yes | No | Yes |
Find Canadian Brokers with Round-the-clock support?
Effective customer service is an essential factor to consider when dealing with Canadian Brokers.
Canadian Brokers customer service entails various support services to aid customers in making the most cost-effective and appropriate use of the brokers' services.
The customer support options offered by Canadian Brokers can include phone answering services, live chat support, and email customer service support.
XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
FP Markets support a wide range of languages including English, Arabic, Indonesian, Italian, Spanish, French, Russian, Chinese, Japanese, German, Portuguese, Thai, French, Malay, Greek, Vietnamese, Romanian, Turkish, Slovenian, Dutch, Polish, Finnish, Norwegian, Swedish, Serbian, Lithuanian, Hungarian, Galician, Estonian, Danish, Czech, Croatian, Bulgarian, Basque
XTB and FP Markets offer support where clients are able to call or contact the helpdesk via email or a chat service.
| Broker |
XTB
|
FP Markets
|
EasyMarkets
|
SpreadEx
|
FXPrimus
|
forexmart
|
Eightcap
|
ForTrade
|
|---|---|---|---|---|---|---|---|---|
| Support |
|
|
|
|
|
|
|
|
| Languages | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish | English, Arabic, Indonesian, Italian, Spanish, French, Russian, Chinese, Japanese, German, Portuguese, Thai, French, Malay, Greek, Vietnamese, Romanian, Turkish, Slovenian, Dutch, Polish, Finnish, Norwegian, Swedish, Serbian, Lithuanian, Hungarian, Galician, Estonian, Danish, Czech, Croatian, Bulgarian, Basque | English, German, Arabic, Chinese, Spanish and Polish | English | English, Spanish, Indonesian, Chinese, Thai, Vietnamese, Hungarian, and Malaysian | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian | English, and Chinese | English, German, Spanish, French, Croatian, Italian, Dutch, Polish, Portuguese, Slovene, Swedish, Russian, Arabic, Albanian, Macedonian |
| Learn More | Visit XTB | Visit FP Markets | Visit easyMarkets | Visit SpreadEx | Visit FXPrimus | Visit ForexMart | Visit Eightcap | Visit ForTrade |
| Risk Warning | 77% 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 | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | Your capital is at risk |
Make sure the Canadian Brokers Offer Comprehensive Trader resources?
It's important to ensure your Canadian Brokers provide complimentary resources such as analysis, education, and risk management tools. XTB and FP Markets collaborate with top analysts to bring the most up-to-date news and insights to traders.
Sound risk and money management are vital to financial market navigation with Canadian Brokers. However, selecting the best broker to access the markets is a critical step that traders should not overlook as they embark on trading live financial markets with Canadian Brokers.
Why Canadian Brokers needs to be regulated?
Regulated Canadian Brokers lowers your risk of loss of deposited trading funds.
Lowering your risk is one of the benefits of working with a properly regulated Canadian Brokers.
Consumers are protected by Canadian Brokers regulation, critical to preventing inadequate services and potential financial harm.
Regulation of Canadian Brokers is necessary to prevent fraud. The Canadian Brokers working capital and client-funded accounts must be kept separate to avoid conducting business with client funds. Any fraudulent behaviour with Canadian Brokers is monitored by financial regulators in the jurisdictions brokers are allowed to operate.
Canadian Brokers List
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mirror Trader, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4,WEB,desktopCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Binary, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, NinjaTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mac, Web Trader, L2 Dealer, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Learn more
77% 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.
77% 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.