Trading Platforms For Canadian Traders Updated for 2025

In addition, AvaTrade offers full support for MT4 and MT5 (including EAs, indicators, scalping and hedging) and provides free access to the integrated Trading Central dashboard for both platforms. Traders can also use AvaTrades’ in-house platform, AvaOptions, to trade Vanilla options. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review.

Here comes our top 5 selection of the best Forex broker platforms in Canada:

To make that even more appealing, the brokerage focuses on spread-only pricing – all traders, regardless of account types, will pay $0 in commission fees. The brokerage offers clients access to 73 currency pairs – however, CFDs and cryptocurrency are unfortunately not available. The average spread for the EUR/USD currency pair is a competitive 1.065 pips.

Not canadian forex review everyone will find this helpful, but if you scalp the markets or day trade, this can certainly give you an edge with your analysis. To join the program, we had to meet the minimum requirements, which is to trade $10,000,000 in volume per month, and then we’d save 10% on our trading costs. As a bonus, we also received high-priority support and a dedicated relationship manager to liaise with if we had an issue, which is a nice touch. Nikolay is an experienced specialist in financial markets and co-founder of IamForexTrader.

Features

Our analyst, Ross Collins, found the broker’s EUR/USD spreads averaging 0.80 pips, one of the lowest among the CIRO-regulated brokers tested. Compared to other brokers, the selection is lacking across the board, with most brokers like Forex.com and FXCM offering 2,000+ markets and 70+ forex pairs. Plus, if you use the MT4 platform on AvaTrade, you won’t have the option to trade shares as the platform doesn’t have the infrastructure for it. From our testing, we think FOREX.com offers a nice balance of services, a decent choice of markets and platforms, and low trading costs. It is unique compared to other countries, as IIROC membership is a requirement, but each of the ten provinces regulates Forex traders residing within their jurisdiction.

Our recommended brokers are all properly regulated, offer CAD accounts and fair-trading fees.
However, the absence of direct stock ownership slightly narrows its appeal for investors who prioritize long-term traditional investments.
Filippo specializes in the best Forex brokers for beginners and professionals to help traders find the best trading solutions for their needs.
Canada offers forex traders a number of benefits, one in particular that will have you seriously considering a Canadian Forex Broker.
Our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.
The Canadian Forex market is regulated by CIRO, which works in coordination with provincial and territorial securities commissions across the country.

What types of accounts are available with AvaTrade in Canada?

The Standard Account comes with all the features you would need from a forex broker. However, OANDA does have a service that is available to high-volume traders, which is called the Elite Trader Program. You can join the Elite Trader Program if your monthly trading volume is $10M+.

Thankfully, the web-based platform is much lighter and places a greater emphasis on usability.
We developed our review process after years of professional forex trading.
MetaTrader 4 is excellent if you want to program custom indicators or Expert Advisors to automate your trading.
Client-focused reforms (CFRs) introduced by Canadian regulators play a critical role for Forex traders in Canada.
Afterward, I broke down the chosen Canadian brokers into dedicated categories to make them suitable for different traders’ needs.
Our analyst, Ross Collins, found the broker’s EUR/USD spreads averaging 0.80 pips, one of the lowest among the CIRO-regulated brokers tested.

Related Broker Guides

He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017. Gains or losses from capital transactions of foreign currencies are classed as capital gains or losses. However, it is best to seek the services of a professional accountant to ensure you don’t have any unpleasant surprises. We have put every one of these forex brokers through our rigorous assessment and testing process. Once the forex broker has received all your documentation and verified its validity, you will be provided with a live trading account.

Canadian forex brokers vs other forex brokers

However, the 3-5 business days required for bank transfers may feel slow compared to brokers offering same-day bank processing. The table below shows our test results for average spreads from a range of brokers. For platform variety, you can’t go past BlackBull Markets, which offers both MetaTrader platforms, cTrader and TradingView.

Is day trading illegal in Canada?

With its strict regulation, various account types, and a competent set of educational and analytical materials, this broker provides high-quality services for novice and experienced traders. CMC Markets Canada has been a reliable CFD and Forex broker in the business for a long time. Top-tier financial authorities regulate the company, offers an excellent trading platform, and has low commission fees. Unlike the US, MetaTrader 4 is available from Canadian brokers, and it’s one of the most popular trading platforms in the world. Choosing the right trading platform is a matter of figuring out what you’re comfortable using, as long as it has all the charting and analytical tools you need. Opening a demo account in Canada is the same as with any other forex broker.