ECN Forex Broker Canada

These are the best brokers with no dealing desk

IIROC Regulated Brokers
  • Friendberg Direct powered by FXCM FXCM – Best Forex Broker in Canada
  • interactive brokers logo Interactive Brokers – Best Forex Broker For Long Range of Markets
  • forex.com logo new Forex.com – Best Forex Broker For Top High Leverage
Other Brokers Accepting Canadian Traders
  • TMGM TMGM – Top MT4 Forex Broker
  • FP Markets Logo FP Markets – Best Forex Broker For Lowest Spreads

TMGM
FXCM
Interactive Brokers
FP Markets
BlackBull Markets
Our Rating
8.33
7.93
8.17
8
8.17
TMGM don't provide % of clients who lose money
66% of retail investor accounts lose money when trading CFDs with this provider
63.70% of retail investor accounts lose money when trading CFDs
The vast majority of retail investor accounts lose money when trading CFDs.
Auckland Based NZ Broker

Regulations and Licenses

Feature
TMGM
FXCM
Interactive Brokers
FP Markets
BlackBull Markets
IIROC (Canada)
Other Regulators

Brokerage

Feature
TMGM
FXCM
Interactive Brokers
FP Markets
BlackBull Markets
EUR/USD Avg. Raw Spread
0.10
0.22
-
0.20
0.23
GBP/USD Avg. Raw Spread
0.42
0.80
-
0.40
0.72
AUD/USD Avg. Raw Spread
0.21
0.40
-
0.30
0.65
EUR/USD Standard Spread
1
-
-
1.30
1.20
EUR/USD Fixed Spreads
-
-
-
-
-
Commissions (USD Base)
$3.50
$3.00
0.08%-0.2%
$3.00
$3.00
Minimum Deposit
$100
$300
$0
$100
$200
Swap Free Account
No Inactivity Fees
Funding Methods
5+
8+
4+
10+
4+
No Funding Fees

Markets and Instruments

Feature
TMGM
FXCM
Interactive Brokers
FP Markets
BlackBull Markets
Currency Pairs
60+
42+
100+
63+
27+
Cryptocurrency CFDs*
12+
7+
-
4+
11+
Index CFDs
15+
13+
26+
14+
9+
Share CFDs
12,000+
15+
1000+
12,986+
350+
Commodities CFD
5+
12+
4+
7+
19+
Stockbroking
-
-
50,000+
-
24,000+
Retail Max. Leverage (Canada)
-
Major Pairs: 50:1
Minor Pairs: 33:1
Major Pairs 62.5:1
Minor Pairs 33:1
-
-
Retail Max. Leverage (With offshore regulators)
500:1
Balance:
0-50k 400:1
50k+ 200:1
-
500:1
500:1

*Cryptocurrency CFDs are not available to retail traders in the UK due to FCA regulations

Trading Platforms + Tools

Feature
TMGM
FXCM
Interactive Brokers
FP Markets
BlackBull Markets
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
TradingView
Proprietary Platform
Automated Trading
Social + Copy Trading
Standard Stop Loss
Guaranteed Stop Loss
Demo Account
Unique Feature
Servers in Tokyo TY3
Large range of trading platforms
125 Markets, 31 Countries, 22 Currencies
Fastest Limit Order Execution Speed
NZ Based Forex Broker

Overall

TMGM
FXCM
Interactive Brokers
FP Markets
BlackBull Markets