Some of the abbreviations on this page are expanded to the regulator's full name: a broker regulated by CIRO is regulated by the Canadian Investment Regulatory Organization.
The 9 brokers on this page, ranked
Ordered by score, highest first, both kinds together: seven scores come from our global testing; two were scored from each firm's published Canadian information through the same eight categories. Each line names the Canadian company that offers the brand; its place in the list comes from its score.
- OANDA - offered by OANDA (Canada) Corporation ULC
- FXCM - offered through Friedberg Mercantile Group Ltd.
- FOREX.com - offered by GAIN Capital - FOREX.com Canada Ltd.
- CMC Markets - offered by CMC Markets Canada Inc.
- AvaTrade - offered through Friedberg Mercantile Group Ltd.
- Interactive Brokers - offered by Interactive Brokers Canada Inc.
- Plus500 - offered by Plus500CA Ltd.
- Questrade - offered by Questrade Inc.
- Fortrade - offered by Fortrade Canada Limited
Which 9 brokers on our CIRO dealer list offer a demo account in Canada?
1. OANDA: offered by OANDA (Canada) Corporation ULC
Category-weighted score 88.3. Published rating 92, which includes an editorial adjustment of +3.7. Adjustments are disclosed on every page they apply to; see our methodology.
Minimum deposit for a live account, as stated: No minimum deposit (standard pricing)
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as stated | Available; the demo "does not expire" (MT4 demo sub-accounts close after 90 days of inactivity); you add the virtual funds, no default balance stated | Canadian site, September 27, 2026 |
| Advertised EUR/USD spread | 0.6 pips, advertised typical, Standard account | Canadian site, September 26, 2026 |
| CIRO dealer member | OANDA (Canada) Corporation ULC: CIRO directory, read September 26, 2026; CIPF member | CIRO dealer directory |
2. FXCM: offered through Friedberg Mercantile Group Ltd.
FXCM is offered in Canada through Friedberg Mercantile Group Ltd., the CIRO dealer member that also offers AvaTrade.
Minimum deposit for a live account, as stated: 'the account minimum for any new account is 5,000' (base currency)
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as stated | Free demo with "$50,000 of virtual money"; length not stated | Canadian site, September 27, 2026 |
| Advertised EUR/USD spread | Spread-only ('opening and closing fees are built into the spread') | Firm document, September 26, 2026 |
| CIRO dealer member | Friedberg Mercantile Group Ltd.: CIRO directory, read September 26, 2026; CIPF member | CIRO dealer directory |
3. FOREX.com: offered by GAIN Capital - FOREX.com Canada Ltd.
Minimum deposit for a live account, as stated: Minimum initial deposit $100
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as stated | "$50,000 in virtual funds"; demo accounts "last for 90 days after sign up" (MT4 demo accounts 30 days unless trades are open) and "cannot be renewed" | Canadian site, September 27, 2026 |
| Advertised EUR/USD spread | 1 pip, advertised minimum, Standard account | Canadian site, September 26, 2026 |
| CIRO dealer member | GAIN Capital - FOREX.com Canada Ltd.: CIRO directory, read September 26, 2026; CIPF member | CIRO dealer directory |
4. CMC Markets: offered by CMC Markets Canada Inc.
Minimum deposit for a live account, as stated: No minimum deposit
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as stated | Yes, with $10,000 virtual funds; length not stated | Canadian site, September 26, 2026 |
| Advertised EUR/USD spread | 0.5 pips, advertised minimum, Standard account | Canadian site, September 26, 2026 |
| CIRO dealer member | CMC Markets Canada Inc.: CIRO directory, read September 26, 2026; CIPF member | CIRO dealer directory |
5. AvaTrade: offered through Friedberg Mercantile Group Ltd.
AvaTrade is offered in Canada through Friedberg Mercantile Group Ltd., the CIRO dealer member that also offers FXCM.
Minimum deposit for a live account, as stated: CAD 300 (CAD account) or USD 250 (USD account)
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as stated | Available, covering MT4, MT5, WebTrader and the mobile app; "a standard Demo balance, set at $/€/£ 100,000" | Canadian site, September 27, 2026; Help centre, September 27, 2026 |
| Advertised EUR/USD spread | 0.6 pips, advertised typical, Standard account | Firm document, September 26, 2026 |
| CIRO dealer member | Friedberg Mercantile Group Ltd.: CIRO directory, read September 26, 2026; CIPF member | CIRO dealer directory |
6. Interactive Brokers: offered by Interactive Brokers Canada Inc.
Minimum deposit for a live account, as stated: USD 0
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as stated | Paper Trading: "All new accounts include a Paper Trading account" (simulated capital, real market data); balance and time limit not stated | Canadian site, September 27, 2026 |
| Advertised EUR/USD spread | Spreads 'as narrow as 1/10 PIP'; commission 0.20 basis point x trade value | Canadian site, September 26, 2026 |
| CIRO dealer member | Interactive Brokers Canada Inc.: CIRO directory, read September 26, 2026; CIPF member | CIRO dealer directory |
7. Plus500: offered by Plus500CA Ltd.
Minimum deposit for a live account, as stated: C$100
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as stated | Free demo "with unlimited virtual funds" and "no time limit"; demo funds can be reset | Canadian site, September 27, 2026 |
| Advertised EUR/USD spread | Spread only, no commission. Fees page gives an illustrative EUR/USD example of a 0.6 pip market spread | Canadian site, September 26, 2026 |
| CIRO dealer member | Plus500CA Ltd.: CIRO directory, read September 26, 2026; CIPF member | CIRO dealer directory |
8. Questrade: offered by Questrade Inc.
Scored on eight of eight categories.
Minimum deposit for a live account, as stated: It costs $0 to open
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as stated | Questrade Global practice account: "Practice for 30 days" with "$100,000 CAD virtual cash" | Canadian site, September 27, 2026 |
| Advertised EUR/USD spread | 1.9 pips, advertised typical, Forex and CFDs account | Canadian site, September 26, 2026 |
| CIRO dealer member | Questrade Inc.: CIRO directory, read September 26, 2026; CIPF member | CIRO dealer directory |
9. Fortrade: offered by Fortrade Canada Limited
Scored on eight of eight categories.
Minimum deposit for a live account, as stated: Recommended C$/US$/EUR 500; possible to start with as little as C$/US$/EUR 100
IIROC Temporary Order, November 9, 2022
Made under IIROC's rules; CIRO, IIROC's successor, keeps it in effect (2024 CIRO 36, Settlement Agreement para 51(f)).
- “Fortrade shall not open any new client accounts”
- “shall not make recommendations”
- “Fortrade shall not seek the deposit of additional funds into existing client accounts”
Source: Re Fortrade Canada Ltd., 2024 CIRO 36, Appendix A, printed pages 16-17 of 18; Settlement Agreement para 51(f). A search of ciro.ca on September 26, 2026 found no notice lifting the order.
Sources
| Fact | As stated | Source |
|---|---|---|
| Demo account, as stated | Free demo account with $10,000 in virtual funds; length not stated | Canadian site, September 26, 2026 |
| Advertised EUR/USD spread | 2 pips, advertised average, Real account | Canadian site, September 26, 2026 |
| CIRO dealer member | Fortrade Canada Limited: CIRO directory, read September 26, 2026; CIPF member | CIRO dealer directory |
Demo accounts at the 9 brokers, side by side
The demos differ most in two things: how long they last and how much virtual money they hand you. FXCM gives “$50,000 of virtual money” with the length not stated, and FOREX.com gives “$50,000” for 90 days after sign up on its own platforms, 30 days on MT4, with no renewal. Plus500 sets no time limit, funds are unlimited and resettable, and Questrade’s practice account runs 30 days with C$100,000 in virtual cash. Interactive Brokers includes Paper Trading with every new account, with the balance and time limit not stated. The EUR/USD column is each firm’s advertised figure, not one we tested. I would check the time limit first, because a demo like FOREX.com’s cannot be renewed once it expires.
The same nine brands also appear in our guide to forex brokers for beginners in Canada, which adds each firm’s minimum deposit for a live account and five steps to your first live trade.
| Broker | CIRO dealer member | Demo account, as stated | Advertised EUR/USD spread and basis | Sources |
|---|---|---|---|---|
| OANDA | OANDA (Canada) Corporation ULC | Available; the demo "does not expire" (MT4 demo sub-accounts close after 90 days of inactivity); you add the virtual funds, no default balance stated | 0.6 pips, advertised typical, Standard account | Demo account: Canadian site, September 27, 2026; EUR/USD spread: Canadian site, September 26, 2026 |
| FXCM | Friedberg Mercantile Group Ltd. | Free demo with "$50,000 of virtual money"; length not stated | Spread-only ('opening and closing fees are built into the spread') | Demo account: Canadian site, September 27, 2026; EUR/USD spread: Firm document, September 26, 2026 |
| FOREX.com | GAIN Capital - FOREX.com Canada Ltd. | "$50,000 in virtual funds"; demo accounts "last for 90 days after sign up" (MT4 demo accounts 30 days unless trades are open) and "cannot be renewed" | 1 pip, advertised minimum, Standard account | Demo account: Canadian site, September 27, 2026; EUR/USD spread: Canadian site, September 26, 2026 |
| CMC Markets | CMC Markets Canada Inc. | Yes, with $10,000 virtual funds; length not stated | 0.5 pips, advertised minimum, Standard account | Demo account: Canadian site, September 26, 2026; EUR/USD spread: Canadian site, September 26, 2026 |
| AvaTrade | Friedberg Mercantile Group Ltd. | Available, covering MT4, MT5, WebTrader and the mobile app; "a standard Demo balance, set at $/€/£ 100,000" | 0.6 pips, advertised typical, Standard account | Demo account: Canadian site, September 27, 2026; Help centre, September 27, 2026; EUR/USD spread: Firm document, September 26, 2026 |
| Interactive Brokers | Interactive Brokers Canada Inc. | Paper Trading: "All new accounts include a Paper Trading account" (simulated capital, real market data); balance and time limit not stated | Spreads 'as narrow as 1/10 PIP'; commission 0.20 basis point x trade value | Demo account: Canadian site, September 27, 2026; EUR/USD spread: Canadian site, September 26, 2026 |
| Plus500 | Plus500CA Ltd. | Free demo "with unlimited virtual funds" and "no time limit"; demo funds can be reset | Spread only, no commission. Fees page gives an illustrative EUR/USD example of a 0.6 pip market spread | Demo account: Canadian site, September 27, 2026; EUR/USD spread: Canadian site, September 26, 2026 |
| Questrade | Questrade Inc. | Questrade Global practice account: "Practice for 30 days" with "$100,000 CAD virtual cash" | 1.9 pips, advertised typical, Forex and CFDs account | Demo account: Canadian site, September 27, 2026; EUR/USD spread: Canadian site, September 26, 2026 |
| Fortrade | Fortrade Canada Limited | Free demo account with $10,000 in virtual funds; length not stated | 2 pips, advertised average, Real account | Demo account: Canadian site, September 26, 2026; EUR/USD spread: Canadian site, September 26, 2026 |
FAQs
Which forex demo account is the best in Canada?
How long does a forex demo account last in Canada?
How much virtual money does a Canadian forex demo account give?
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Related pages
About the author
Justin Grossbard is the CEO & Co-Founder of CompareForexBrokers established in 2014, along with Noam Korbl and works as Strategic Head Of Research.
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