Some of the abbreviations on this page are expanded to the regulator's full name: a broker regulated by ASIC is regulated by the Australian Securities and Investments Commission; by CIRO, the Canadian Investment Regulatory Organization.
What trading AvaTrade costs
One standard lot of EUR/USD on AvaTrade's Standard account costs US$6.00 for the round turn: 0.6 pips of spread (US$6.00), with no commission, on the spread the Canadian site advertises "standard spread, under normal market conditions" rather than a figure we measured.
| Account | A month of trading | One round turn, 1 lot |
|---|---|---|
| Standard0.6 pips, advertised, standard spread, under normal market conditions (Canadian site, September 26, 2026) | US$120.00 | US$6.00 |
On AvaTrade's Standard account, one pip on EUR/USD equals US$10.00 per standard lot, so a round turn costs the spread in pips times US$10.00 plus any commission.
Our verdict on AvaTrade
I recommend AvaTrade, offered in Canada by Friedberg Direct, to Canadian traders who want a wide range of markets from a CIRO dealer, since the product guide lists 37 currency pairs, 583 share CFDs, and vanilla options on 42 underlyings. The published score is 64.5 out of 100, from our global broker test, not a Canadian test. The firm's range of markets category score is 8.5 out of 10, and I weigh that range heavily when I place a dealer for a trader who wants depth of instruments.
The limit that shapes my view is education, where the category score is 4.5 out of 10. The inactivity fee of $50 after 3 consecutive months of non-use, and the annual administration fee of $100 after 12 consecutive months of non-use, also matter to anyone who trades rarely. Friedberg Direct is an order-execution-only broker and is generally the counterparty to your trades, which you should weigh before you deposit.
Pros
- The Canadian product guide lists 583 share CFDs and 18 index CFDs including CANADA_60.
- The standard EUR/USD spread is 0.6 pips with no commission (the firm states).
- The rate card lists $0 for bank wire transfers, domestic and international, and $0 for credit and debit cards.
- The minimum deposit is $300 for a CAD account or US$250 for a USD account.
- The Customer Agreement provides an Islamic account designation with no overnight interest.
Cons
- An inactivity fee of $50 after 3 consecutive months of non-use, and $100 annually after 12 months.
- Margin funds are transferred with full ownership to Friedberg Direct and are not registered in the client's name.
- No crypto CFDs appear in the Canadian product guide.
- The education category score is 4.5 out of 10, the lowest of the eight categories.
AvaTrade score breakdown
3/5 · Good
Our global rating
AvaTrade's overall CFB Score of 64.5 comes from the full methodology, which weighs more than 100 data points per broker. The category ratings summarize each area, and they do not average out to the overall figure.
How is our rating calculated?
How popular is AvaTrade in Canada?
Canadians made 880 branded searches for AvaTrade in August 2026, placing it 6th of the 7 CIRO dealers we rate. Search interest measures how much attention AvaTrade draws, and it says nothing about quality; the score above is the review verdict.
- 880
- Brand searches, August 2026
- n/a below 1,000
- vs July 2026
- 0
- Login searches
- 1.0%
- Share of these 7 dealers' searches
Source: Google search volume, Canada, August 2026.
How this is measured
Google Ads reports each month how many times people in Canada searched the brand terms of AvaTrade and the other dealers, and the card ranks them on that figure alone.
AvaTrade earns a term only when its own website holds the first organic Google result for that term in Canada, and bare brand words any company could own stay out of the count.
A month-on-month change for AvaTrade prints only where the previous month reached 1,000 searches, because Google rounds smaller volumes.
AvaTrade's figures refresh on the 15th of each month with the newest month Google has published, and the first-result check repeats every quarter.
Is AvaTrade safe? CIRO membership, Friedberg Mercantile Group Ltd.
Yes, I can answer this from the documents I read: AvaTrade is available in Canada through Friedberg Mercantile Group Ltd., a registered investment dealer listed in the CIRO dealer directory as an Investment Dealer, and a current member of the Canadian Investor Protection Fund. We checked the directory and the CIPF member list before writing this section, and both list the firm.
CIRO registration and global licences
The CIRO dealer directory lists Friedberg Mercantile Group Ltd. as an Investment Dealer (CIRO dealer directory, read September 26, 2026). The firm states it is a registered investment dealer in all of the provinces and territories of Canada and a derivatives dealer in Quebec, with derivatives offered to Quebec residents authorized by the Quebec AMF (Friedberg Direct site). The Canadian site’s regulation page lists AvaTrade group licences abroad, including the Central Bank of Ireland, ASIC, the Japan Financial Services Agency and the Abu Dhabi Global Market’s financial regulator; none of these entities holds a Canadian client’s account.
CIRO enforcement history
Re Friedberg Mercantile Group, 2022 IIROC 09, a settlement decision dated March 29, 2022, with reasons April 13, 2022, concerned failures to review and approve client accounts migrated from AVA Trade Ltd. on time, to keep an adequate compliance system and written procedures to supervise those accounts, and to supervise AVA Trade agents, over October 2018 to December 2020. The settlement carried a fine of $223,000 and costs of $25,000 (CIRO proceeding and decision, pages 1 to 2).
Where a Canadian client’s money is held
Under the margin ownership clause of the Customer Agreement, you transfer full ownership of the funds needed for required margin to Friedberg Direct, which deposits that margin as collateral with its liquidity providers; these funds are not registered in your name (Customer Agreement, pages 12 to 13). Funds above the required margin are treated as client funds, and no interest is paid on client funds (the client funds interest clause).
Who a Canadian client contracts with
The Customer Agreement is a contract between Friedberg Mercantile Group Ltd. (Friedberg Direct) and you, and Friedberg Direct is the counterparty to every trade, over the counter, under Ontario law and the courts in Toronto (Customer Agreement, page 1; the arbitration clause). Ava Trade EU Limited (Ireland) may provide technical support services but is not registered with any Canadian securities regulator as an investment dealer, so Canadian investor protections may not be available against it (Customer Agreement, page 3). The site states the AvaTrade Group does not own or control any part of Friedberg Direct. Friedberg Direct, a division of Friedberg Mercantile Group Ltd., offers Canadian residents access to FXCM and AvaTrade, and accounts on both are opened with Friedberg Direct as dealer (Friedberg Direct offering comparison, introduction).
How to complain, and who hears it
Complaints go to the Complaints Officer at [email protected] or the Friedberg head office on 1-800-461-2700 (Relationship Disclosure and Statement of Policies, the complaints clauses). The firm replies in writing within 5 business days if the matter is not resolved, and a final response is normally given within 90 days.
This page covers the Canadian dealer, Friedberg Mercantile Group Ltd.; the brand worldwide is covered in our global AvaTrade review.
AvaTrade client money protection and dispute scheme
I read CIPF’s own coverage pages before writing this, and CIPF states that for an individual the limits are generally $1 million for all general accounts combined, such as cash accounts, margin accounts, TFSAs and FHSAs, plus $1 million for all registered retirement accounts combined, plus $1 million for all RESPs combined where the client is the subscriber (About CIPF Coverage). CIPF covers property a member firm holds for a client that is not returned after the firm’s insolvency. It does not cover a drop in the value of your investments, and your claim is filed within 180 days of the insolvency. Friedberg Mercantile Group Ltd. is on CIPF’s current members list as an Investment Dealer member (CIPF member directory).
The firm’s documents route a complaint to its Complaints Officer, then to CIRO’s complaint process and arbitration under the program CIRO outlines (Customer Agreement, the complaints clauses). They do not name OBSI. CIRO states that all CIRO dealer members must be members of OBSI, and you can file with OBSI at no cost if you are not satisfied with the firm’s response, or with none within the period CIRO names (CIRO, How to make a complaint, Step 5).
AvaTrade at a glance: 17 key facts
The table below gathers the key facts about this dealer, each with the document and page it comes from. The sources include the CIRO dealer directory and the CIRO decision, the CIPF member list, CIRO’s complaint guide, and the firm’s own Canadian documents.
| Fact | Value | Source |
|---|---|---|
| Canadian dealer | Friedberg Direct, a division of Friedberg Mercantile Group Ltd. | Customer Agreement, p. 1, Customer Agreement preamble |
| Registration | Investment dealer in all provinces and territories; derivatives dealer in Quebec | Friedberg Direct site, Friedberg Mercantile Group paragraph; https://www.friedbergdirect.ca/copy-of-offering-comparison footer |
| Service type | Order-execution only | Relationship Disclosure and Statement of Policies, Section 4 and 4.4, printed pp. 25-26 |
| CIRO enforcement | 2022 IIROC 09: $223,000 fine (AVA Trade account supervision) | CIRO proceeding and decision, decision https://www.ciro.ca/media/3538/download?inline p. 1 (sanctions) and p. 2 paras 12-17 |
| Where client money is held | Required margin passes to the dealer and its liquidity providers | Customer Agreement, s. 11.11 and s. 11.1, pp. 12-13 |
| Contracting entity | Friedberg Mercantile Group Ltd. is the counterparty to every trade | Customer Agreement, p. 1; p. 3 Support Services; s. 42.2 p. 39; s. 46 p. 40; https://www.avatrade.ca/about-friedberg/withdrawals-and-deposits footer |
| CIPF coverage | $1 million for all general accounts combined (CIPF) | About CIPF Coverage; CIPF member directory, Limits for Individuals; https://www.cipf.ca/member-directory/current-cipf-members/friedberg-mercantile-group-ltd |
| Dispute service | CIRO complaint process and arbitration; OBSI through CIRO membership | Customer Agreement; CIRO, How to make a complaint, s. 46-47, pp. 40-41; https://www.ciro.ca/office-investor/how-make-complaint Step 5 |
| EUR/USD spread | 0.6 pips standard, spread only (the firm states) | Canadian Product Guide, FX table, EUR/USD row, p. 1; pp. 34-35 (the guide prints no page numbers) |
| Inactivity and administration fees | $50 per 3 months unused; $100 a year after 12 months | Customer Agreement, s. 37.1-37.2, pp. 35-36 |
| Funding methods | Credit card, debit card, bank wire, Google Pay | Withdrawals and deposits, Deposits section; Customer Agreement s. 39.1(v), p. 37 |
| Minimum deposit | C$300 (CAD account), US$250 (USD account) | What is the minimum amount I need to deposit, article body |
| Account currencies | CAD, USD | Rate card, fee tables by account currency; Customer Agreement s. 37 |
| Platforms | WebTrader, MT4, MT5, AvaOptions, mobile app | Trading platforms, Types of Trading Platforms in Canada; Product Guide equities table p. 4 |
| Markets | 37 pairs, 583 share CFDs, 18 indices, options on 42 underlyings | Canadian Product Guide, FX, Commodities, Indices, Equities and Options tables, pp. 1-33 |
| Crypto CFDs | None | Canadian Product Guide, whole guide; https://www.avatrade.ca/cryptocurrencies |
| EUR/USD margin | 5.00% (CAD account), 3.00% (USD account) | Trading conditions, Forex pairs table, EUR/USD row; margin-call document https://origin.avatrades.net/legal-docs/canada/margin-call-warning-system/en.pdf p. 1; position-size condition, Product Guide p. 47 |
AvaTrade spreads and commission
AvaTrade states that it does not charge commissions on any trade and is compensated through the bid-ask spread (Canadian Product Guide, pages 34 to 35). Spreads can widen with market conditions, and the firm states its standard figures as what applies under normal market conditions. When I compare dealers for Canadian traders, this spread-only pricing is the figure I put first, because it is what you pay on every trade you place.
Standard pricing account The firm states a EUR/USD standard spread of 0.6 pips under normal market conditions (Canadian Product Guide, FX table, EUR/USD row, page 1). Standard spreads on other pairs are GBP/USD 0.9, USD/JPY 1.1, AUD/USD 0.8, USD/CAD 1.5, and EUR/JPY 1.4 pips (the firm states).
What it costs to trade with AvaTrade
At that standard spread, 10,000 units of EUR/USD cost US$0.60 in spread (Canadian Product Guide, FX table, page 1; formulas, derived). One night’s long financing on the same position at the product guide’s -0.0070% daily rate is a EUR 0.70 debit; overnight interest rates are indicative (Canadian Product Guide). There is no commission: the firm states it does not charge commissions on any trade and is compensated through the bid-ask spread.
Other fees a Canadian trader should check
An inactivity fee of $50 (CAD account) or US$50 (USD account) applies after 3 consecutive months of non-use, and again for each further 3-month period (Customer Agreement, the inactivity fee clause). An annual administration fee of $100 on a CAD account, or the same amount in US dollars on a USD account, applies after 12 consecutive months of non-use. The rate card lists $0 for bank wire transfers, domestic and international in USD and CAD, and $0 for credit and debit cards, with a currency conversion mark-up of N/A in every band (Rate card, page 1). The Customer Agreement says the firm may also charge incidental banking-related fees such as wire charges for deposits and withdrawals (Customer Agreement, s. 15.6).
AvaTrade funding methods and withdrawal times
You fund a Canadian account by credit card, debit card, bank wire transfer, or Google Pay (Withdrawals and deposits, Deposits section). Third-party deposits are not accepted, and a bank transfer must come from an account in your name in your country of residence (Customer Agreement, the third-party deposit clause).
Deposit methods
A first credit card deposit takes up to 1 business day, and a wire deposit takes up to 7 business days (How long does it take to deposit, support article).
Withdrawals
Withdrawals return by the method used to fund, card first up to 100% of the deposit (Withdrawals and deposits). They are typically processed and sent within 24 business hours, then take up to 5 business days to a card and 5 to 10 business days by wire (withdrawal FAQ).
AvaTrade account types and minimum deposit
The Friedberg Direct comparison lists for AvaTrade a free demo, Micro, Standard, Active Trader, and Islamic accounts, denominated in CAD and USD (Friedberg Direct offering comparison, Accounts table). The Customer Agreement provides an Islamic account designation with no overnight interest, where positions may not stay open more than 5 days (the Islamic account clause). The demo runs 21 days, which I find enough time for you to try the platforms before you commit your money.
Minimum deposit
The minimum deposit is $300 for a CAD account or US$250 for a USD account (What is the minimum amount I need to deposit, article body).
Account currencies
You can hold your account in CAD or USD (Rate card, fee tables by account currency; Customer Agreement, the fee section).
AvaTrade trading platforms
You can trade on WebTrader in the browser, MetaTrader 4, MetaTrader 5, AvaOptions on desktop, iOS and Android, and the mobile app (Trading platforms, Types of Trading Platforms in Canada). Some instruments are exclusive to MetaTrader 5, which also offers fractional shares on some equities (Product Guide, equities table, page 4).
AvaTrade execution speed and slippage
Our global panel of 35 brokers measured AvaTrade at 235 ms for limit orders and 145 ms for market orders, on MetaTrader 4 demo accounts, updated September 16, 2026 (execution speeds page, combined test results table). This is not a test of the Canadian dealer.
Demo accounts show no slippage, so slippage was not measured (execution speeds page, demo testing limitation).
AvaTrade markets
The Canadian product guide lists 37 currency pairs, 17 commodity CFDs, 18 index CFDs including CANADA_60, 583 share CFDs, bond CFDs, and vanilla options on 42 underlyings, being 40 currency pairs plus spot gold and spot silver (Canadian Product Guide, pages 1 to 33). No crypto CFDs appear in the Canadian product guide, and the Canadian site’s cryptocurrencies page returns a 404.
AvaTrade leverage and margin for Canadian clients
The firm states EUR/USD margin of 5.00% in a CAD account and 3.00% in a USD account on its live Trading Conditions page, which its margin-call document names as the place for current margin (Trading conditions, Forex pairs table, EUR/USD row). Those equal 20:1 and 33.3:1. The firm states margin as percentages, not as a leverage ratio, and margin can increase with position size (Product Guide).
A margin warning follows an end-of-day balance below maintenance margin, with 5 calendar days to cure, and positions are liquidated at 10% of maintenance margin (margin call warning system, page 2). CIRO’s Investment Dealer and Partially Consolidated Rules, section 5460(1), set client margin for a foreign exchange position as spot risk margin plus term risk margin, with sections 5461 to 5463, 5468 and 5469, and CIRO Bulletin 25-0232, effective August 13, 2025, lists the spot risk margin rate the bulletin lists for the euro in CAD-base and USD-base accounts. The Customer Agreement says margin is set as required by the rules and regulations of CIRO (the margin clause).
How AvaTrade compares to FXCM and FOREX.com
FXCM states spread-only pricing on its default account, with no EUR/USD spread figure published on the pages read, and its commission model for designated accounts is US$5.00 per 100k per side in a USD base or $7.00 in a CAD base (the firm states). AvaTrade states a standard EUR/USD spread with no commission. FOREX.com states EUR/USD variable spreads as low as 1.0 with no commission on its Standard account, and from 0.0 plus US$7 commission per US$100k traded per side on its RAW Pricing account (the firm states). FXCM scores 68.6 out of 100 and FOREX.com scores 67.6 out of 100, both from our global broker test.
Each is a CIRO dealer serving Canadian residents. The details for each are in our FXCM review for Canadian traders and our FOREX.com review for Canadian traders.
What other review sites say about AvaTrade
These are ratings of AvaTrade from other platforms, read on the date shown and expressed on each platform's scale, so you can weigh them against our own score.
| Platform | Rating | Volume | Read on |
|---|---|---|---|
| Trustpilot | 4.8 / 5 | 13,330 | September 10, 2026 |
| Google Play | 4.3 / 5 | 11.7K | September 10, 2026 |
AvaTrade holds a Trustpilot rating of 4.8 out of 5 from 13,330 reviews, checked September 10, 2026.
AvaTrade: Trading App is rated 4.3 out of 5 on Google Play (United States store) from 11.7K reviews shown worldwide, checked September 10, 2026.
Our AvaTrade score follows published criteria, and the third-party ratings above carry no influence over it.
Should you open an AvaTrade account?
Yes, I recommend AvaTrade, through Friedberg Direct, for Canadian traders who want a wide range of markets and vanilla options from a CIRO dealer. The trade-off is the education material and the inactivity fees, which matter to anyone who trades rarely. In my opinion the range of markets is the reason to choose this dealer, and the reason to look elsewhere is thin education.
Before you deposit, check the CIRO dealer directory entry for Friedberg Mercantile Group Ltd. and read the firm’s Trading Conditions page for the current margin rates on the pairs you trade. I would also read the margin ownership clause in the Customer Agreement so you know where your funds sit.
FAQs
Is AvaTrade allowed in Canada?
Can I trust AvaTrade?
Which country is AvaTrade from?
Why can't I withdraw money from AvaTrade?
Testing log
| Record | Detail |
|---|---|
| CIRO dealer directory read | September 26, 2026 |
| CIPF member list read | September 26, 2026 |
| Firm’s Canadian documents read | September 26, 2026 |