Best Forex Brokers In Canada

I picked OANDA as the best forex broker for Canada after scoring 92/100 in my tests for low trading costs and security (making them the most regulated broker). You don’t pay commission on the Standard account, plus the broker averages 0.92 pips (in my testing), making them an ideal account for beginners.

Having three options for trading platforms (OANDA Trade, TradingView, MT4) lets you tailor OANDA’s trading conditions to your style. Of these, I recommend the OANDA Trade platform as it uniquely allows complete control of trade sizes and contains templates for faster order execution across 200+ markets.

Tight Standard Account Spreads While testing OANDA, I was impressed with its Standard account that provided competitive spreads averaging 1.50 pips on EUR/USD and zero commissions. I found you can lower your trading costs further with the Elite Trader Program by earning rebates from your trading volume.

You can receive a rebate from CAD$ 0.5 to 1.70 per lot traded, saving you up to 34% on your trading costs, which is huge if you’re a high-volume trader.

Excellent Trading Platforms

OANDA performed well in my trading platform tests, scoring 8/10 for offering TradingView, MT4, and OANDA Trade, which uses TradingView’s charts, giving you a top platform for technical analysis.

With OANDA Trade, you can set up a default trade template, an excellent tool for scalpers and beginners. The template automatically populates your order ticket with the lot size, stop-loss, and take-profit orders (in pips), meaning your trades include risk management protection.

Most Trusted Forex Broker During my tests, I scored OANDA 100/100 for its Trust category after I found they are the best regulated forex broker in Canada with licenses from 9 authorities globally. More importantly, I found they are authorized by 6 Tier-1 regulators.

As a Canadian trader, OANDA is regulated directly by CIRO giving you full protection under its licence to provide transparent trading services and protect your capital.

All the other regulators don’t matter as far as your trading experience. However, I view them as strong signals that OANDA is trusted as 6 tier-1 regulators have approved them after meeting their strict standards.

Fintrix Markets ReviewVisit Fintrix Markets

FOREX.com scored a solid 67.6/100 in my tests with access to a solid range of 350+ markets, including 91 currency pairs, the largest in Canada. These spreads on the Standard account are competitive, averaging 1.20 pips on EUR/USD with zero commissions, simplifying your trading costs.

You get access to top trading platforms for technical analysis and automated trading with TradingView, MT4, and MT5, while its own Web Trading Platform has advanced features for performance management.

91 Forex Pairs To Trade

FOREX.com proved to have the best range of trading products for a CIRO-regulated broker in my tests, especially for its forex range with 91 currency pairs available.

In my tests, I found the range of currency pairs includes six major pairs, 15 minors, and 57 exotic pairs, giving you a decent opportunity to trade more volatile products. Impressively, I found the exotic pair spreads on the Standard account to be cheap, with USD/THB averaging spreads of 3.2 pips and CAD/NOK averaging 32 pips.

Offers Standard and Raw Trading Accounts

For its major pairs costs, I found them competitive too on both its Standard non-commission account and Raw account with tighter spreads and commissions. The Standard account averaged 1.20 pips on EUR/USD during the New York trading session, which is what I’d expect from Canadian forex brokers based on my experience.

The Raw account offers the EUR/USD spread 83% less, averaging 0.20 pips, which is a considerable saving. However, you do pay USD $7.00 for each lot traded ($14.00 round trade), which is a large commission in my opinion and erodes the discount saved on the spreads. I’d stick with the Standard account with FOREX.com or use FP Markets for a significant saving.

Solid Range of Markets

Outside of forex pairs, FOREX.com offers a decent range of 350+ markets, letting you trade multiple markets with one trading account. These include:

• 220 stock CFDs
• 8 cryptocurrencies
• 10 commodities
• 17 indices

*Your capital is at risk up to ‘76% of retail CFD accounts lose money with FOREX.com’

I picked CMC Markets as the best broker for beginners because its trading platform offers excellent features like automated pattern recognition tools and guaranteed stop-loss orders. CMC Markets also supplies a decent range of educational resources with over 90+ lessons, webinars, and the Artful Trader podcast, which hosts industry professionals you can learn from.

From our testing, you can learn to trade across its 283+ forex pairs, or 12,000+ financial instruments, with low Standard account spreads (1.10 pips EUR/USD). For me, the low spreads and Next Generation platform make CMC Markets an excellent pick if you’re a beginner trader.

NGEN Platform Is Best For Beginners

I’ve tested over 30+ trading platforms and found CMC Markets’ Next Generation (NGEN) platform to be one of the best for beginners in my opinion. It’s web-based, so there is no need to download anything and it works on every device while still offering 80+ technical indicators from MACD to Pivot Points.

The standout feature for me was its automated pattern recognition tool that you can use to receive technical analysis alerts based on upcoming chart patterns. If you’re new, it provides an overlay of the technical analysis on your chart so you can see the price patterns in real-time.

Decent Educational Resources

I found CMC Markets to provide a solid library of educational resources consisting of weekly webinars, podcasts, eBooks, and online articles. While testing, I discovered that CMC Markets provides 92 educational articles covering forex trading basics to trading strategies.

Despite the extensive content range with comprehensive and detailed videos, the education suite lacked videos.

Low Standard Account Spreads In Our Testing

I also chose CMC Markets for low spreads on its Standard account with no commissions after my analyst colleague confirmed that CMC Markets was a top performer.

During the New York trading session I was averaging 1.10 pip spreads with EUR/USD, which is below the industry average for Canadian brokers.

AvaTrade is my top recommendation for stable spreads because it offers fixed spreads to Canadian traders. It would be great if you day trade as volatility won’t increase your trading costs. The fixed spreads are low with EUR/USD at 0.80 pips, cheaper than most brokers (who widen their spreads).

Trade with fixed spreads across its 150+ markets ranging from forex to cryptocurrencies, keeping your trading costs stable regardless of the markets. You can trade vanilla options with AvaOptions, giving you a solid alternative to CFD trading that can benefit from market volatility.

Fixed Spreads For Stable Pricing

AvaTrade stands out from CIRO-regulated brokers I’ve tested because it offers fixed spreads with no commissions, which are surprisingly competitive. Fixed spreads are a great option if you day trade because your trading costs will remain the same, regardless of whether the market becomes volatile during macroeconomic news announcements like GDP.

On the Standard account I was using, I could get EUR/USD spreads for 0.80 pips, making it almost 50% cheaper than the industry average. Looking deeper across the major pairs, AvaTrade performs well across the board, which is a good sign if you focus on forex markets.

However, USD/CAD is fixed at 2 pips, which is on the expensive side for this pair compared with variable spreads that averaged 1.8 pips from my testing.

AvaTrade Has Decent Trading Platforms

Thanks to the integration with Friedberg Direct, you can trade AvaTrade’s 150+ markets covering cryptocurrencies to Canadian stock CFDs. AvaTrade offers its WebTrader platform as the default option to access its markets, providing 90+ indicators and a built-in Trading Central integration for technical insights and chart pattern recognition alerts.

The WebTrader platform also has market sentiment tools to see how many clients are long or short on a market, something I find helpful while day trading. If you prefer traditional trading platforms, you can access fixed spreads through MetaTrader 4 and MetaTrader 5.

AvaOption Offers American Style Options

Unique to AvaTrade, I found the broker offers vanilla-style options trading through its AvaOptions platform. Options trading provides flexibility, better risk management features, and potentially higher returns thanks to volatility compared to CFDs, making it an attractive option for trading highly volatile events or markets.

We recommend Fintrix Markets for Canadian traders looking for low-cost forex trading. In our testing, the broker’s Zero account averaged 0.0 pip spreads on EUR/USD with a $3.50 commission per side, producing which rivals established Raw account brokers.

We also like the choice of MetaTrader 4, MetaTrader 5 and the broker’s own WebTrader (which utilises MT4 and MT5), giving traders flexibility across desktop, web and mobile.

Finally, Fintrix stands out by offering negative balance protection and US$1 million of client funds insurance underwritten by Lloyd’s of London for eligible clients, providing an additional layer of protection that is uncommon among offshore-regulated brokers.

Low trading costs with 0 pip spreads

Fintrix Markets stands out for its competitive trading costs, particularly on its Zero account. During our testing, we recorded an average EUR/USD spread of 0.0 pips with a $3.50 commission per side, producing an all-in trading cost of around 0.7 pips.

That places Fintrix alongside established Raw account brokers such as Pepperstone and IC Markets, making it a strong option for active forex traders looking to minimise trading costs.

The following table highlights the low average spreads Fintrix Markets offer across the major currency pairs:

Over 1000 Markets to Trade

The broker also offers an impressive 1,291 CFD instruments across six asset classes. This includes 98 forex pairs, 1,031 share CFDs, 90 ETFs, 37 cryptocurrencies, 18 commodities and 17 global indices, giving traders plenty of opportunities to diversify from a single account.

Platform support is centred around the MetaTrader suite, with MT4, MT5 and WebTrader available on desktop, web and mobile. MT4 remains an excellent choice for forex trading and automated strategies using Expert Advisors, while MT5 expands your market coverage with support for the broker’s extensive share CFD offering. MT5 also offers enhanced charting tools of +71 technical indicators and 21 timeframes.

Client Protection of US$1 Million

Although Fintrix is regulated solely by the Financial Services Commission (FSC) of Mauritius (which you’ll be onboarded through as a Canadian trader), I was pleased to see additional client protections that offshore-regulated brokers usually don’t offer.

If you’re an eligible client, you’ll receive negative balance protection together with US$1 million of Client Funds Insurance underwritten by Lloyd’s of London, helping safeguard your client funds should the broker become insolvent.

Combined with $0 broker fees on deposits and withdrawals, these features make Fintrix a good choice if you’re seeking low costs without sacrificing market access or platform quality.

I chose Eightcap as the best broker for crypto trading in Canada because they offer 141+ markets, covering Bitcoin and altcoins, which is the largest selection in the forex industry. The broker also posted solid spreads on its Standard account, averaging 1.16 pips for EUR/USD and 0 pips on its Raw account for low-cost trading.

Because of the large range of crypto markets and low trading costs, Eightcap is among my best forex brokers, scoring 91.8/100 on my tests. It has extra tools like FlashTrader for improved trade management.

141+ Cryptocurrencies for Canadian Traders

As CIRO restricts crypto trading in Canada for retail traders, I found Eightcap the best regulated broker for crypto trading as it has 141+ crypto markets to trade. The reason Eightcap can offer Canadian traders crypto is because CIRO does not regulate them, instead, they are regulated by the Securities Commission of the Bahamas (SCB).

The advantage of trading with Eightcap is that you are trading with a regulated broker, meaning the conditions are transparent and your money is protected unlike cryptocurrency exchanges.

Using TradingView, I checked out what crypto markets are available on Eightcap and found you can trade Bitcoin, Solana, and Ripple as well as altcoins like PEPE and SHIB. If you want to take on higher-risk markets like crypto, Eightcap is the top choice in my opinion as they offer almost 10 times more than the other Canadian brokers:

Tight Spreads For Crypto and Forex on the Standard Account

While trading Bitcoin, I found that Eightcap’s spreads were decent, averaging 17 pips during the New York session, which is cheap based on my experience. If you trade forex, EUR/USD averages 1.16 pips on my tests, which is also competitive.

Fusion Markets earned 85/100 in my broker reviews after providing the lowest trading costs for Canadian traders with its Zero account. Tests show that the account averages 0.16 pips and CAD 3.00 in commissions, saving you a fortune compared to other Canadian brokers.

The broker supports the tight spreads with fast execution speeds (sub-80 ms), with multiple top-tier trading platforms like MT4, MT5, cTrader, and TradingView providing solid trading conditions for scalping.

Lowest Raw Account Spreads

Although not regulated with CIRO, I found Fusion Markets accepts Canadian traders, which means you can tap into the broker’s excellent Zero account for lower trading costs.

My analyst, Ross Collins, tested the top 15 ECN brokers to get the average raw spreads during a typical trading session.

One of the top performers in his test was Fusion Markets, who achieved an average spread of 0.16 pips on EUR/USD, beating the industry average (0.27 pips). USD/CAD was also 62% lower than its industry average (0.62 pips), recording an average spread of 0.23 pips.

Low Commission on the Zero account

With all Raw spread accounts tested, you have to pay a commission, and because I could set my base currency to CAD on my Zero account, you get better commissions. The commissions you pay are CAD 3.00 per lot traded, which is one of the lowest commissions you can receive.

Sub-80ms Execution Speeds

Ross also tested the broker’s execution speeds along with 19 other brokers using his MetaTrader 4 platform and recording the speeds using ExTest_ForExpat and Broker Latency Tester EAs. This gave him the average limit order and market order execution speeds to rank each broker accordingly.

Fusion Markets placed first in Canada (second globally) in his tests with a limit order speed of 79ms and a market order speed of 77ms. I always pick brokers with fast execution because slow execution costs you twice: on stop-loss slippage and on whether you actually get filled at the price you saw.

Based on this and the tight spreads, I think Fusion Markets is a great option for scalpers if you don’t mind choosing an offshore broker.

TabTrade posted the lowest average raw spread in our August 2026 test, at 0.145 pips across six major pairs. The Edge RAW account used in the test opens with a $250 minimum and carries a commission of $3.50 per side, per lot. That spread result is raw spread only. Commission is charged on top of it, so the tightest spread in this table is not automatically the lowest total cost. Fusion Markets charges the lowest commission of any broker we test. According to TabTrade, the broker offers MetaTrader 5 on desktop, web and mobile, 24/7 customer support, free VPS hosting, copy trading through TabTrade Social and DupliTrade, and a swap-free account. Live platforms are MT5 on desktop, web, iOS and Android, and the WebTrader is the MT5 web platform. cTrader and TradingView integration have been announced but are not yet available. Canadian clients contract with an unlicensed Saint Lucia entity. Weigh that structure against the spread result before opening an account.

The Financial Services Commission Mauritius licensed TabTrade (Mauritius) Ltd on 2 July 2026, class SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting). Retail clients do not contract with the Mauritian company. The client relationship is with TabTrade Ltd, a Saint Lucia International Business Company registered under number 2025-00919. TabTrade describes its execution model as hybrid and confirms it acts as counterparty on some client flow. Maximum leverage is 1:1000. The broker lists over 1,100 instruments across forex, indices, crypto and commodities. Support is available 24/7.

PU Prime is amazing for scalping as they offer an ECN account with very tight spreads, averaging 0.0 pips on EUR/USD. You also get top tier regulation and a balanced range of markets and CFD offerings.

Beyond standard trading, PU Prime excels with its dedicated PU Copy Trading platform and PU Social platforms. With PU Copy you can copy experienced traders with just $50, get real-time updates and adjust multiple risk management options.

You also get access to a transparent performance dashboard as well as flexible profit-sharing for signal providers. Furthermore, the broker supports leverage up to 1:1000 for copy trading accounts.

Tight Spreads and Low Commissions

As a high-volume trader, you can benefit from ultra-competitive costs. The Prime Account offers you raw spreads averaging 0.0 pips on the EUR/USD with $3.5 per side/lot, while the ECN Account (for larger deposits) offers a round-turn commission of just $2.00 per lot. This $2.00 per lot is seriously impressive, even more so when compared to CIRO-regulate brokers who charge $14 per lot.

Other accounts available include Standard with spreads from 1.3 pips and a Cent account.

Regardless which account you choose, you can trade with leverage up to 1:1000 and far higher than the 1:50 leverage permitted by Canadian brokers.

Award-Winning Copy Trading

One of the broker’s greatest strengths is its proprietary PU CopyTrading app and PU Social app. PU Copy allows you to mirror the strategies of professional signal providers instantly. You get a performance dashboard that clearly breaks down each signal provider’s drawdown, win rate, average holding time, and historical equity curve.

I liked that I can also cap maximum drawdown, adjust lot multipliers, and pause copying instantly without closing the original trade position.

PU Prime also has copy trading ability, but unlike PU Copy, which integrates with the PU Prime app and is strictly mirrors other traders, PU Prime allows you to follow news feeds of others in the community.

The Key Differences at a Glance

Great Range of Markets

With over 1,000 tradable instruments, PU Prime lets you trade multiple asset types. This includes a massive range of 55 Forex pairs. 59 cryptocurrencies, hundreds of Stock CFDs, and niche assets like Bonds and ETFs.

The availability of cryptocurrency trading is particularly interesting as CIRO-regulated brokers do not offer crypto.

Interactive Brokers is a decent ECN broker with some of the lowest commissions in Canada at $2.00 per lot traded and tight spreads from 0.1 pips. The catch is that if you trade less than 1 lot, it becomes an expensive broker. So, if you frequently trade 1 lot or more, I think Interactive Brokers will be a solid fit, especially as the commission gets cheaper the more you trade.

The broker scored 88/100 in my tests because I felt they favoured experienced traders with advanced trading platforms and over 65,000 markets to trade from.

My preferred style of forex brokers are ECN brokers, which provide the best trading conditions and fees compared to market makers. Interactive Brokers is able to offer low spreads because it receives multiple offers through the ECN; therefore, the best price is taken, which is typically the cheapest.

Lowest Trading Commissions in Canada

During my time with Interactive Brokers, I found they averaged spreads as low as 0.1 pips, which is about standard for ECN accounts. However, they charge a tiered commission, which gets better the more volume you trade.

These commissions start at $2.00 per lot, which already places Interactive Brokers as one of Canada’s lowest commissions. However, I found this is their minimum charge regardless of whether you trade a micro or mini lot, making the broker expensive if you trade smaller lot sizes.

If you are a high-volume trader, you can get commissions as low as $1 per lot, the cheapest I’ve seen a broker offer.

Solid Trading Tools for Experienced Traders

I felt that Interactive Brokers provided a better trading environment for professional traders as the IBKR platform has advanced charting and Level II pricing for Direct Market Access. If you’re a new trader, you may get overwhelmed by the platform as it’s not very user-friendly due to the modulated approach of the platform.

Largest Selection of Financial Markets

Interactive Brokers is one of the largest CIRO-regulated forex brokers with access to 65,000 markets from 117 forex pairs to over 17,000 share CFDs, the largest in Canada.