The most important factor for us to consider when choosing the best Canadian forex brokers was that they are regulated by the Investment Industry Regulatory Organization of Canada IIROC to provide online forex trading services in Canada. From there, we look at other important things when it comes to trading forex online such as the platforms, apps, payment options, fees, spreads, execution policies, education, market analysis, tools, accounts and customer support.

We believe that it is of upmost importance that a forex broker in Canada is regulated and authorised to provide such services.

Using a regulated broker helps to give traders peace of mind that they are using a broker which is subject to strict rules and regulations put in place to help protect investors. It is worth mentioning that there are some offshore forex brokers that still solicit clients located within Canada.

There are also Canadian forex brokers who offer online trading services to clients located in some countries outside of the Canada. In this instance, it would be a considered a wise idea to ensure that the broker in question has the relevant regulation within the jurisdiction that they operate from.

If a broker is licensed and regulated, they should be provided with a registration number as proof that they are registered. This number is usually located on the brokers website, near the footer where they state who they are regulated by. You should check on the relevant regulators website to validate the current status of the broker registration to ensure that it is valid and up to date.

It has been known for some scam brokers to fake regulation, some even going as far to clone another brokers website. When you are looking up the registration number, you should find details of the broker including their website, contact details and if they have any cases brought against them.

The Investment Industry Regulatory Organization of Canada is the national self-regulatory organisation which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. IIROC was established as a non-profit corporation on June 1st, as part of the consolidation of the Investment Dealers Association of Canada IDA and the Market Regulation Services Inc.

IIROC is subject to CSA oversight and regular operational reviews. The organisation sets regulatory and investment industry standards and has quasi-judicial powers in that it holds enforcement hearings and has the power to suspend, fine and expel members and registered representatives. The best Canadian forex brokers should have a variety of different forex trading platforms for multiple devices including desktop, web and mobile forex trading apps.

The brokers trading platforms should be user friendly, with plenty of trading tools and advanced functionality for all types of forex trading strategies. The Canadian forex broker should provide traders with a wide range of currency pairs and trading instruments across multiple asset classes including Forex, Commodities , Cryptocurrency , Stocks , Indices , Options , ETFs , CFDs and Futures. The more choice that the broker has, the easier it would be to expand your portfolio in the future, should you wish to do so.

When you place a trade position with a forex broker, you will usually need to pay the spread which is the difference between the bid and ask prices at the time of executing your order. In general, the lower the spreads, the cheaper the trading costs can be and the better the prices you may have your trade executed at.

Although, this can also be dependent on other factors such as the brokers liquidity, slippage and execution model. Many brokers will charge a small commission fee for each trade that you place with them.

The lower the commission fee per trade, the lower your overall trading costs can be in the long term. Some forex strategies actually depend on low commissions. Thus, the best Canadian forex brokers should have the most competitive commissions. In addition to the spreads and commissions that forex brokers may charge, there can be additional fees. These include overnight swap fees, funding fees, platform fees, trading tool fees, educational resource fees, etc.

Any other fees charged by the broker should be competitive and transparent to the trader. If you are looking to save as much as possible on your trading costs, you can take a look at our best discount brokers. The execution speed can determine the price your order will be executed at. Instant execution should mean that the order is placed as close to your desired price as possible.

The best forex brokers in Canada should have rapid execution speeds with minimal slippage so that traders get the best available prices more often than not. Some trading strategies such as scalping are dependent on reliable execution speeds. Compare Broker tool. Compare selected brokers by their fees, minimum deposit, withdrawal, account opening and other areas. Filter according to broker or product type, including stocks, futures, CFDs or crypto. COMPARE BROKERS. Compare highest-rated brokers.

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About us. Best Forex Brokers Canada Post author By George Rossi Post date July 6, No Comments on Best Forex Brokers Canada IIROC Regulations Canada Best FX Brokers Canada Brokers List Verified IIROC Brokers How to Verify IIROC Brokers Canada Forex Options Brokers Canada MT4 Brokers Canada High Leverage Brokers Tax Forex Trading Canada. Canadian IIROC Regulated Forex Brokers Forex brokers must be registered and authorized with the Investment Industry Regulatory Organization of Canada IIROC to operate in Canada.

Some of the key highlights of trading with IIROC regulated brokers: 🏦Regulator Investment Industry Regulatory Organization of Canada IIROC 📊Max. Leverage 🛡️Is It safe to trade Yes 🔒Negative Balance Protection No 💰Compensation Scheme None Best Canada Forex Brokers To select the best IIROC-regulated forex brokers, we have tested and reviewed several forex brokers.

CMC Markets — Best Overall Forex Broker in Canada Interactive Brokers — Best Forex Broker for Beginners in Canada Fortrade — Best MT4 Broker in Canada Forex. Best Overall Forex Broker in Canada We picked CMC Markets as the overall best forex broker in Canada. Best Forex Broker for Beginners in Canada We picked Interactive Brokers as the best forex broker for beginners in Canada.

Best MT4 Broker Forex Canada We picked Fortrade as the best MT4 broker in Canada. Apart from MT4, Fortrade also offers its proprietary trading platform on the web and mobile. Best Canadian Trading Platform We picked Forex.

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Avatrade 2. Exness 3. JustMarkets 4. Oanda 5. BDSwiss 6. Tickmill 7. Pepperstone 8. FBS 9. OctaFX FP Markets. Exness 2. Avatrade 3. HFM 4. Forextime 6. CM Trading 7. Go Markets 8. Alpari Easy Markets. OctaFX 2. Bdswiss 3. Axiory 4. Pepperstone 5. Plus 6. Exness 8. Go Markets 9. com Oanda 2.

com 4. TD Ameritrade 5. ATC Brokers 6. Nadex 7. com 8. ACY 9. NinjaTrader Best CFD Trading Strategies What is CFD Trading? Top CFD Forex Brokers. What is Bitcoin? Bitcoin Trading Bitcoin Trading Tips and Strategies Bitcoin Mining Bitcoin Forex Brokers Quotes from Bitcoin Believers Bitcoin Halving Bitcoin Brokers Best Bitcoin Trading Apps Bitcoin Trading Bots Cloud Mining.

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Before a Forex broker can accept Forex and CFD traders in Canada they must be authorized by the regulatory body: Investment Industry Regulatory Organization of Canada IIROC. com Swissquote Interactive Brokers Vantage FX Octa FX HYCM ThinkMarkets InstaForex. This list is not on a basis of the ranking of brokers but a comprehensive list of the top brokers to choose from when trading from Canada. Rated of Recommended FX Brokers. IFC Markets. The company was founded in and since then, IFC Markets has expanded the range of services provided and has been focused on the development and implementation of innovative approaches to trading.

IFC Markets operates under the IFCM Group, which has been in operation for 14 years. The IFCM Group consists of IFCM Cyprus Limited, IFC Markets, and NetTradeX Limited. IFC Markets provides its trading to over clients through unlimited trading instruments and numerous opportunities.

Added to this, the IFCM group of companies are involved in the development of projects in the field of financial technologies with the requirements set by international legislation to provide financial services. Rated 32 of Recommended FX Brokers. Started up in , with a staff complement of and more than 2,, clients , FXTM has set up itself as a serious contender in the money trade space.

You will definitely be able to make a speedy transition into the universe that is Forex, because this trader has spent a lot of energy and time into making your experience an amicable one.

As a beginner trader, you should quickly get up to speed from the variety of instructional material that is given by FXTM. The mobile platform is excellent and FXTM offers an easy-to-use web platform too. Client assistance is ground-breaking , however hour support is the standard portion missing from their support offering. Rated 70 of Recommended FX Brokers. Minimum Deposit. Islamic Account. Trading Fees. Working in eight cities across the globe, Alpari International Alpari have made their mark on the Forex market, resulting in many prosperous clients.

Alpari has various product offerings for both the expert and novice trader. A demo account is made open for beginners and, later on, you can proceed to social exchanging. The role of Strategy Manager is the thing that in all likelihood will be the most attractive feature to experienced traders.

As a Strategy Manager, you can score extra earnings by having other traders duplicate your exchanges and take a piece of their profits. With a wide degree of products on offer and near-perfect internal controls, Alpari would be an extremely attractive choice for any trader. Rated 34 of Recommended FX Brokers. Whether you are an expert or a learner, GO Markets is a very strong counterpart for you. They offer staggering features which include a bucketload of training resources. They also offer really low Forex costs which make this trader very attractive to all types of traders.

Social media, telephone, email, and the web are the channels that are accessible for unprecedented customer support. Rated 18 of Recommended FX Brokers. Easy Markets was created just under two decades ago and is a trusted broker with a wealth of experience under its belt. Their proprietary trading platform has some superior features which will help to protect your funds, these include excellent risk management tools, and applications such as deal cancellation, free guaranteed Stop Loss, and Freeze rate.

Easy Markets has a limitation on the number of products on offer and the educational and research tools could be improved. But overall, they are a first-rate broker that you can trust as you venture into Forex trading. Clients will value their extraordinary customer support service, yet may need to stand by now and then. Traders will be content with the vast number of tools and platforms available at CMC Markets , which have been engaging with customers since The account creation is a little tedious in its confirmation process, but the good news is that it does not need a minimum deposit.

You will have a good experience with either the web or mobile platforms. CMS is known for appealing to beginners or low-skilled traders. Customer service is a great experience but limited to working hours. Read the 18 Best Australian Forex Brokers Reviewed here. Oanda has gained notoriety for being a solid and trustworthy broker with a long track record in the Forex market.

Fortunately, most Canadian provinces and territories will accept brokers with only IIROC regulation. At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. Questrade global is a proprietary web-based trading platform that allows Canadian forex traders to access FX and CFD products from over 15 global exchanges. TD Direct is the top Canadian broker for trading and investing in stocks. A forex broker is a professional that provides a platform for trading Forex.

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