What should I look for when choosing a forex broker?

Focus on regulation (FCA, ASIC, CySEC), spreads and commissions, execution speed, leverage offered, and platform choice (MT4/MT5). Our ranking weights these factors algorithmically.

What is a good spread for forex trading?

Competitive EUR/USD spreads are below 1 pip on standard accounts and 0.1–0.3 pips on raw/ECN accounts. Brokers with tight spreads but commission charges often work out cheaper for active traders.

Is forex trading safe?

Forex is legal and safe when traded through a regulated broker. Look for brokers regulated by Tier-1 regulators such as the FCA (UK), ASIC (Australia), or CySEC (EU). Avoid unregulated offshore brokers.

What is the minimum deposit to trade forex in Canada?

23 brokers on this list accept traders from Canada with no minimum deposit ($0). The lowest non-zero minimum deposit among brokers available in Canada is $1. For better risk management and position sizing, most experts recommend starting with at least $100–$200 regardless of the broker's minimum.

Which is the top-rated broker in this list for 2026?

Based on our scoring algorithm, Interactive Brokers currently ranks #1 with a score of 4.4/5. Scores are recalculated every 24 hours as broker data changes.

Best Forex Brokers in Canada 2026 — Expert Rankings

What to Look For in Forex Brokers in Canada

When selecting a forex broker in Canada, regulation should be at the forefront of your decision-making process. The Investment Industry Regulatory Organization of Canada (IIROC) is the primary regulatory body ensuring that brokers maintain high standards in financial stability and client protection. Choosing a broker regulated by IIROC not only provides peace of mind but also ensures that the broker complies with stringent financial requirements and ethical practices.

Another critical factor is the fee structure. Traders should look for brokers offering competitive spreads and low commission rates to maximise their profitability. Some brokers may also offer zero-commission trading, which, while attractive, should be carefully evaluated alongside the spread costs. It is essential to consider all costs, including withdrawal and inactivity fees, to ensure you are getting the best value for your trading activities.

Lastly, the quality of the trading platform can significantly impact your trading experience. A robust platform with advanced charting tools, real-time data feeds, and user-friendly interfaces is indispensable for both novice and experienced traders. Additionally, mobile trading capabilities are increasingly important, allowing traders to manage their portfolios effectively on the go.

How We Rank Forex Brokers in Canada

Our ranking methodology for forex brokers in Canada is comprehensive and systematic, ensuring each broker is evaluated on several crucial criteria. We allocate 25% of the score to regulation, as it is fundamental to ensuring a broker's legitimacy and safety. Fees are weighted at 20%, reflecting the importance of cost-efficiency in trading. The quality of trading platforms is given a 15% weighting, acknowledging the necessity of a user-friendly and technologically advanced trading environment.

The breadth of markets available accounts for 10% of the ranking, as it provides traders with diverse opportunities. Trustworthiness is critically assessed at 15%, considering factors such as the broker's reputation and customer reviews. Finally, user experience (UX) is also weighted at 15%, emphasizing the importance of seamless navigation and customer support in enhancing the trading experience.

Top Picks at a Glance

Interactive Brokers: Known for its extensive range of markets and low trading costs, Interactive Brokers provides a robust platform for professional traders.
Forex.com: Forex.com stands out with its comprehensive educational resources, making it an excellent choice for beginners and experienced traders alike.
IG Group: IG Group excels with its advanced trading platform and extensive research tools, catering to traders looking for in-depth market analysis.
Vantage: Vantage offers a strong combination of competitive spreads and fast execution speeds, ideal for those looking to capitalise on market movements.
Pepperstone: Pepperstone is renowned for its exceptional customer service and user-friendly platform, making it a popular choice among retail traders.

Best Forex Brokers in Canada 2026

Interactive Brokers

Forex.com

IG Group

FxPro

Pepperstone

OANDA

City Index

CMC Markets

XM

eToro

Saxo Bank

Plus500

AvaTrade

Capital.com

BlackBull Markets

ThinkMarkets

FBS

IC Markets

Vantage Markets

FP Markets

XTB

ForTrade

Swissquote

HFM

Admiral Markets

Exness

Deriv

Markets.com

Phillip Capital

IronFX

Dukascopy

Libertex

FXCM

FxOpen

Exante

Axi

Eightcap

EasyMarkets

MultiBank Group

InstaForex

FXTM

Webull

Trading 212

Fusion Markets

ActivTrades

Octa

NAGA

Moneta Markets

Purple Trading

Skilling

Fineco Bank

TMGM

HYCM

Aetos Capital

LiteFinance

Phillip Nova

LYNX Broker

Binance

Spreadex

Just2Trade

VT Markets

Freedom Finance

Tickmill

GO Markets

OCBC Securities

UOB Kay Hian

KGI Securities

CIMB Securities

Blueberry Markets

Equiti

ACY Securities

Capital Index

Amana Capital

Windsor Brokers

BDSwiss

FXGT

Valutrades

JustMarkets

Orbex