We found 11 online brokers that are appropriate for Trading Canadian Forex Platforms.
Forex traders based in Canada generate profits from the foreign exchange markets' price fluctuations. Online brokers offer access to the market via trading platforms and accounts, where users can take positions and carry out their trading analysis.
Foreign exchange traders in Canada normally register with brokerages that provide the Canadian dollar (CAD) as a currency. CAD can decrease conversion charges and trading costs. In fact, the CAD takes up two percent of the world currency reserves held by banks, and is the sixth most traded currency. The largest factor affecting Canadian dollars is the domestic economy, which is generally affected by the mining, oil, and gas export transactions. Therefore, Forex investors should pay extra attention to the rate of gold and crude oil, which directly influences the Canadian dollar's worth.
Trading in the Forex in Canada is legal. However, the regulations and laws for trading the Forex may seem complicated. It might be helpful to note that the national regulator agency in Canada is the Investment Industry Regulatory Organization of Canada (IIROC). Also, every region has its local regulator agency. For example, the three provincial agencies that control Forex in Canada are:
The first thing you need to know about Forex brokers in Canada is that they are regulated by the IIROC. The IIROC enforces one of the best laws globally, making Forex brokers in Canada one of the safest brokers to work with globally.
Canada is made of many provinces where each province possesses its own governing system that can override the system of the IIROC. For instance, people based in Alberta's province need to meet different conditions, such as their level of trading expertise and net worth, before they can be allowed to register a Forex trading account. Fortunately, several of the local regulatory bodies have been unified, making it easier for Canadian traders. Also, Canada is part of few advanced nations that allow its citizens to deal with international Forex brokers that are not licensed in Canada.
The best Forex brokers in Canada will offer several securities and tools that can help you conduct trading effectively. Also, Forex traders in Canada can pick between offshore companies or companies based in Canada. The benefit of offshore companies is that they are normally licensed in several regions, making these companies more trustworthy. However, you should still ensure that the broker you choose is authorized by the IIROC.
The IIROC dictates that brokers need to verify the following information from their clients:
In picking the best Forex trading platform, you should ensure that any other add-on or associated softwares are compatible with the type of account you use for trading. There are generally several essential factors to consider when choosing a broker. For instance, you may not like a specific broker's software and platforms offered. However, if the broker offers the cheapest fees and offers trading services that you are interested in, it is still advisable to utilise the broker's platform. Of course, the shortfalls of the trading platform should not have too big of an influence on your trading.
In conclusion, Canada offers a very favourable landscape for Forex traders. This can be largely attributed to the stringent regulations of the IIROC, as well as the openness of the Canadian government to Forex trading.
However, traders looking for the best Forex brokers in Canada should note that different brokers offer different features that will not be suitable for everyone. For instance, most brokers tend to offer very different trading platforms that will appeal to different traders. Therefore, traders looking to deal with a Forex broker based in Canada should conduct sufficient research to ensure that the features offered by the broker is the most suitable.
We have conducted extensive research and analysis on over multiple data points on Forex Canada to present you with a comprehensive guide that can help you find the most suitable Forex Canada. Below we shortlist what we think are the best Canadian Forex Platforms after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Forex Canada.
Selecting a reliable and reputable online Canadian Forex Platforms 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 Forex Platforms more confidently.
Selecting the right online Canadian Forex Platforms trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
When choosing a broker for Canadian Forex Platforms trading, it's essential to compare the different options available to you. Our Canadian Forex Platforms brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
By comparing these essential features, you can choose a Canadian Forex Platforms broker that best suits your needs and preferences for Canadian Forex Platforms. Our Canadian Forex Platforms broker comparison table simplifies the process, allowing you to make a more informed decision.
Here are the top Canadian Forex Platforms.
Compare Canadian Forex Platforms brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a Canadian Forex Platforms broker, it's crucial to compare several factors to choose the right one for your Canadian Forex Platforms needs. Our comparison tool allows you to compare the essential features side by side.
All brokers below are Canadian Forex Platforms. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Canadian Forex Platforms that accept Canadian Forex Platforms clients.
Broker | IC Markets | Roboforex | eToro | XTB | XM | Pepperstone | AvaTrade | FP Markets | NordFX | EasyMarkets | SpreadEx |
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 | 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) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049), Central Bank of Ireland | 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), License No: 209/13, VFSC registration number 15008 | 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) |
Min Deposit | 200 | 10 | 100 | No minimum deposit | 5 | 200 | 100 | 100 | 1 | 100 | 1 |
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Used By | 180,000+ | 1,000,000+ | 30,000,000+ | 1,000,000+ | 10,000,000+ | 400,000+ | 300,000+ | 10,000+ | 10,000+ | 142,500+ | 10,000+ |
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Platforms | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
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Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. | 76-85% 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. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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. | 75-95 % of retail investor accounts lose money when trading CFDs | 71% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits |
Demo |
IC Markets Demo |
Roboforex Demo |
eToro Demo |
XTB Demo |
XM Demo |
Pepperstone Demo |
AvaTrade Demo |
FP Markets Demo |
NordFX Demo |
easyMarkets Demo |
SpreadEx Demo |
Excluded Countries | US, IR, CA, NZ, JP | AU, BE, BQ, BR, CA, CW, CZ, DE, ES, EE, EU, FM, FR, FI, GW, ID, IR, JP, LR, MP, NL, PF, PL, RU, SE, SJ, SS, SL, SI, TL, TR, DO, US, IT, AT, PT, BG, HR, CY, DK, FL, GR, IE, LV, LT, MT, RO, SK, CH | ZA, ID, IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, SA, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, MG, MK, KZ, GD, FJ, PT, BB, BM, BS, AG, AI, AW, AX, LB, SV, PY, HN, GT, PR, NI, VG, AN, CN, BZ, DZ, MY, KH, PH, VN, EG, MN, MO, UA, JO, KR, | US, IN, PK, BD, NG , ID, BE, AU | US, CA, IL, IR | AF, AS, AQ, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, VU, VG, EH, ES, YE, ZW, ET | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US, CA, EU, RU, SY, KP, CU | 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 |
You can compare Canadian Forex Platforms 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 Forex Platforms for 2024 article further below. You can see it now by clicking here
We have listed top Canadian Forex Platforms below.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that 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.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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