Best CFD Brokers in Canada: the 8 Brands on Our CIRO Dealer List That Offer CFDs

OANDA is position 1 of 8 on this page, and it is where I would send you first if you trade CFDs in Canada. OANDA (Canada) Corporation ULC is the CIRO dealer behind the brand, registered as an investment dealer in every province and territory and a derivatives dealer in Quebec. I recommend it for traders who want spread-only standard pricing with no minimum deposit, and a core plan that drops the advertised EUR/USD minimum spread to 0.0 pips for a commission. Traders starting with a small balance will find, in my view, that the no-minimum standard account makes entry easy.

OANDA (Canada) Corporation ULC offers forex, indices, commodities, metals, and bonds as CFDs. Its advertised EUR/USD spread is 0.6 pips for typical order sizes on standard spread-only pricing. On the core plan the advertised minimum spread is 0.0 pips plus a commission of C$1 per 10,000 units, and the plan needs a C$10,000 balance or deposit. The minimum trade size is 1 unit, so you can size positions from the smallest possible step. In my opinion that 1-unit step gives you finer control over position size than the 1,000-unit minimums some other brands on this page publish.

EUR/USD margin is 5% (20:1) in a CAD base account and 3% (33.3:1) in a USD base account, per the firm's legal margin-rates page. There is no minimum deposit for standard pricing, so you can open with whatever balance suits your budget. Accounts are open to residents of Canada with a valid social insurance number or Canadian visa entry document, and the firm does not accept Alberta residents. It is a derivatives dealer in Quebec. Gold margin runs 22% in a CAD base account and 20% in a USD base account, so metals tie up more of your capital than forex.

FXCM sits at position 2 of 8 through Friedberg Direct, a division of Friedberg Mercantile Group Ltd., the CIRO dealer that also offers AvaTrade in Canada. I recommend it for Canadians who want a broad CFD menu, since the product guide lists cash index CFDs, energy, soft commodities, metals, treasury CFDs, and single-share CFDs. Default pricing builds opening and closing fees into the spread with no additional charge, and the free demo comes with "$50,000 of virtual money".

Friedberg Direct, a division of Friedberg Mercantile Group Ltd., offers cash index CFDs such as SPX500 and NAS100, energy, soft commodities, metals, treasury CFDs, and single-share CFDs across US, UK, HK, and EU markets. Default pricing builds fees into the spread with no additional charge, and no EUR/USD spread figure is published in the rate card, the spread-costs page, or the EUR/USD page. Where the firm designates a commission model in writing, EUR/USD costs US$5.00 per 100k per side in a USD account or C$7.00 per 100k per side in a CAD account, so check which model your account carries before you fund it.

The firm states EUR/USD margin per 10K lot as US$370 in a USD account and C$840 in a CAD account, with a liquidation level of 10% of that. The firm states "the account minimum for any new account is 5,000" in base currency, and the card deposit minimum is 50. No province is excluded on the site, and derivatives offered to Quebec residents are authorized by the Quebec AMF. Active Trader Tier 1 needs US$25,000 equity and 50M to 150M monthly volume, so my view is that this tier only suits you if you trade serious size.

FOREX.com holds position 3 of 8 through GAIN Capital - FOREX.com Canada Ltd., a CIRO dealer registered as an investment dealer in every province and territory and a derivatives dealer in Quebec. I recommend it for Canadians who want a large CFD catalogue plus a choice of pricing, since the RAW account page lists "2,700+ Canadian and global CFDs". Alberta residents can open an account only as accredited investors. Traders who want raw pricing will find, in my view, that the RAW account's advertised 0.0 pips plus commission is worth their attention.

GAIN Capital - FOREX.com Canada Ltd. offers forex, stock CFDs, indices, ETFs, commodities, and metals as CFDs. The advertised Standard EUR/USD spread is as low as 1.0 pips with no commission. The RAW Pricing account advertises EUR/USD from 0.0 pips plus a commission of US$7 per US$100,000 traded per side, on FOREX.com platforms and MT5 only. The minimum trade size is 1,000 units for currencies, so your first FX position starts at that step.

EUR/USD margin is 5% for CAD based accounts and 3% for USD based accounts, and the firm warns that MMR on MetaTrader could be higher. The minimum initial deposit is "$100", with "$2,500" recommended and a card minimum of "$100" per transaction, so you can open with a small amount and decide later how much to commit. No province is excluded, and Alberta residents must be accredited investors. Gold margin runs 22% for XAU/USD in a CAD base account and 20% in a USD base account, so metals tie up more of your capital than FX pairs. In my opinion the two account types give you a clean choice between simple and raw pricing.

CMC Markets takes position 4 of 8 through CMC Markets Canada Inc., a CIRO dealer registered as an investment dealer in all provinces and territories and a derivatives dealer in Quebec. I recommend it for Canadians who want one multi-asset CFD account with no minimum deposit. Its advertised Standard EUR/USD minimum spread is 0.5 pips, and an FX Active account drops the advertised spread to 0.0 pips for a commission. Alberta residents must qualify as accredited investors. Traders who value a broad market list will find, in my view, that this menu covers them well.

CMC Markets Canada Inc. offers currencies, commodities, shares, ETFs, indices, and treasuries as CFDs, plus OTC options on select indices. The advertised Standard EUR/USD minimum spread is 0.5 pips with no separate FX commission. The FX Active CFD account advertises EUR/USD from 0.0 pips plus a commission of 0.0025% of transaction value on each of opening and closing trades, US$2.50 per US$100,000 per side in the firm's example, so you pay for tightness only when you choose the active account.

The listed EUR/USD margin rate is 5%, and the site says margin rates follow CIRO minimums. There is no minimum deposit, and account base currencies are CAD and USD. All provinces and territories are served, including Quebec, where the firm is a derivatives dealer. Gold carries a 6.03% margin rate.

AvaTrade holds position 5 of 8 through Friedberg Mercantile Group Ltd., the same CIRO dealer that also offers FXCM in Canada. I recommend it for Canadians who want simple pricing: the firm states "AvaTrade does not charge commissions on any trade", and the advertised EUR/USD standard spread is 0.6 pips. The CFD menu covers forex, commodities, indices, share CFDs, bonds, and vanilla options. Traders who prefer one predictable cost will find, in my view, that spread-only pricing like this suits them.

Friedberg Direct, a division of Friedberg Mercantile Group Ltd., offers forex across 36 pairs, commodities including gold, silver, and platinum, stock indices, share CFDs, bonds, and vanilla FX and metal options. The advertised EUR/USD standard spread is 0.6 pips, and the firm states "AvaTrade does not charge commissions on any trade" and that it is compensated through the bid-ask spread. The minimum trade size on EUR/USD is 1,000 units, so your first position on that pair starts there.

EUR/USD margin is 3.00% in a USD account, per the product guide. Gold margin is 4.80%, silver 8.40%, and crude oil 7.80%. The minimum deposit is C$300 in a CAD account or US$250 in a USD account, so your entry cost is a stated figure with no separate commission to add on top. The Customer Agreement is governed by Ontario law, and no province exclusion is stated on the pages we read. In my opinion the stated deposit makes your start-up cost easy to plan.

Plus500 takes position 6 of 8 through Plus500CA Ltd., a CIRO dealer registered as an investment dealer in all provinces and territories of Canada except Quebec. I recommend it for Canadians who want one proprietary platform with spread-only pricing and a low entry point: the minimum deposit is C$100 and there are no dealing commissions. Quebec residents are not served, and Alberta services are available to accredited investors only. Traders who want a simple single-platform setup will find, in my view, that this fits them.

Plus500CA Ltd. offers shares, ETFs, forex, options, indices, and commodities as CFDs. Pricing is spread only: the firm shows a 0.6 pip market spread in an illustrative EUR/USD example, with live spreads shown in the platform, and it charges no dealing commissions. EUR/USD initial margin is 5.00% with maintenance at 2.50%, which is 20:1. Gold initial margin is 6.46% (15:1), so metals tie up more of your capital than the FX pair.

The minimum deposit is C$100, and each deposit method has its own minimum shown on the Deposit screen. Plus500CA Ltd. is registered in all jurisdictions except Quebec, so Quebec residents cannot use it. Alberta clients must be accredited investors under NI 45-106 and trade as principal. The demo is "completely free with no time limit" and funds can be reset "as many times as you like", so your practice time is not rationed.

Questrade suits a trader who wants a long multi-market CFD list through the "Individual Forex & CFDs" account and accepts a wider spread as the trade-off. Questrade, Inc. is the CIRO dealer, and it is position 7 of 8 on this page. My view is that this brand fits you only if cost is not your priority: the advertised EUR/USD target spread is 1.9 pips, wider than OANDA's 0.6 pips typical, CMC Markets' 0.5 pips minimum, and FOREX.com's as low as 1.0 pips.

Questrade, Inc. offers forex, commodity CFDs covering metals, energy, agriculture, softs, and live cattle, index CFDs across North America, EMEA, and Asia/Pacific, and stock CFDs from Canadian, US, UK, European, Australian, and Hong Kong markets. Gold and silver are also quoted as FX pairs. The advertised EUR/USD target spread is 1.9 pips, under a headline of "as low as 0.8 pips", with no FX commission, so your cost on that pair is the spread you see.

EUR/USD margin is 5% in a CAD-denominated account and 3% in a USD-denominated account. A risk capital limit approved at opening specifies the maximum you can deposit to the trading account cumulatively, and it can be revised with a financial update form. Gold CFD margin is 7.50%. Trading runs on Questrade Global for web, desktop, and mobile, and the 30-day practice account with "$100,000 CAD virtual cash" lets you try that platform first. My advice is to check your risk capital limit before you plan deposits.

A CIRO Temporary Order of November 9, 2022 bars Fortrade Canada Limited from opening any new client accounts and from seeking additional deposits into existing accounts, so this card is written for existing clients and for readers checking the firm's status. Fortrade is position 8 of 8. It suits an existing client who wants spread-based "Zero Commission" pricing across equities, FX, indices, commodities, and treasuries. My view is that you should read the order box before you weigh anything else here.

Fortrade Canada Limited offers equities, FX, indices, commodities including precious metals, energy, and agriculture, and treasuries as CFDs. Pricing is spread based, with an advertised EUR/USD average spread of 2 pips and the home page stating "Zero Commission. Other fees apply." EUR/USD initial margin is 5.2% in a CAD account and 3.0% in a USD account, which the firm's own leverage figures state as 20:1 CAD and 33:1 USD. Gold CFD margin is 5.10%, so metals tie up more of your capital than the FX pair.

Fortrade Canada Limited is registered as an investment dealer in all provinces and territories of Canada except Quebec, and Alberta residents must qualify as accredited investors to trade CFDs. The firm offers order-execution-only account services and gives no advice or recommendations. The demo account carries "$10,000 in virtual funds" on the proprietary web, iOS, and Android platform. Existing clients, in my view, should confirm the order's status with the firm directly.