Forex trading in Canada is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and provincial authorities. Canadian traders benefit from strict regulations ensuring safety and transparency, though the selection of fully licensed forex brokers is limited compared to other regions. Many international brokers accept Canadian clients while complying with Canadian regulations.

This article highlights the top 5 forex brokers in Canada, focusing on regulation, trading platforms, and key features for Canadian traders.

Top Forex Brokers in Canada (2025)

1. OANDA Canada

• Regulation: IIROC
• Minimum Deposit: None
• Platforms: Proprietary platform, MT4
• Features: Transparent pricing, solid research tools, and strong regulatory compliance

2. FOREX.com Canada

• Regulation: IIROC
• Minimum Deposit: $50
• Platforms: MT4, FOREX.com proprietary platform
• Features: Wide product offering, competitive spreads, advanced charting

3. Interactive Brokers Canada

• Regulation: IIROC
• Minimum Deposit: Varies
• Platforms: Trader Workstation (TWS)
• Features: Institutional liquidity, multi-asset trading, API access

4. CMC Markets Canada

• Regulation: IIROC
• Minimum Deposit: None
• Platforms: Next Generation, MT4
• Features: Advanced charting, no minimum deposit, tight spreads

5. Questrade

• Regulation: IIROC
• Minimum Deposit: $1,000 (varies)
• Platforms: Questrade Trading, MT4 integration
• Features: User-friendly platform, competitive fees, good customer support

Key Takeaways

• IIROC regulation ensures Canadian traders’ funds are protected
• Most brokers support MT4 and proprietary platforms
• Minimum deposits range from zero to around $1,000 depending on broker and account type
• Transparent fees and strong customer service are common across top brokers

Frequently Asked Questions

Which forex brokers are regulated in Canada?

OANDA Canada, FOREX.com Canada, Interactive Brokers, CMC Markets, and Questrade are regulated by IIROC.

Can I deposit Canadian dollars?

Yes, most brokers support CAD deposits and withdrawals.

Are offshore brokers allowed in Canada?

Many offshore brokers accept Canadian clients but may not be IIROC-regulated.

What is the minimum deposit for forex brokers in Canada?

Minimum deposits vary widely; some brokers have no minimum while others require higher capital.

Do Canadian brokers support MetaTrader platforms?

Yes, MT4 is widely supported, while MT5 support is growing.

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