Best forex brokers in Canada

Ranked by Coinish Score: half the Editor Rating for the entity that serves residents of Canada, half Market Signal. Brokers without enough verified data for a rating are placed by Market Signal and labelled; brokers with neither are listed last. How we rate

Forex in Canada at a glance

6 forex brokers with a verified licence serve residents of Canada: 6 hold a local licence (CIRO).
Top pick by Coinish Score: OANDA (72/100, Editor Rating 3.5/5).
Lowest advertised EUR/USD all-in cost: 0.5 pips (CMC Markets), across 5 brokers that publish one.
No minimum deposit: Questrade.

Forex in Canada

Local licence required

Firms trading with Canadians must be registered with the securities regulator of each province or territory where they do business. CIRO oversees the investment dealers.

Regulator sources (2)

“anyone in the business of trading securities or advising clients on securities must be registered with the securities regulator in each province or territory where they do business”
securities-administrators.ca · Jan 14, 2026
“CIRO oversees investment and mutual fund Dealers and their representatives across Canada”
ciro.ca · May 28, 2026

Sort by

1
Top pick
OANDA
OANDA (Canada) Corporation ULC · CIRO (Tier 1)
Locally licensed
EUR/USD all-in
0.6 pips
Instruments
1,700+
Min. deposit
–
72
Coinish Score
3.5/5 rating74 signal
Visit site Review
2
CMC Markets
CMC Markets Canada Inc. · CIRO (Tier 1)
Locally licensed
EUR/USD all-in
0.5 pips
Instruments
12,000+
Min. deposit
–
70
Coinish Score
4.1/5 rating59 signal
Visit site Review
3
FOREX.com
GAIN Capital - FOREX.com Canada Limited · CIRO (Tier 1)
Locally licensed
EUR/USD all-in
0.7 pips
Instruments
2,000+
Min. deposit
–
70
Coinish Score
4.1/5 rating60 signal
Visit site Review
4
Interactive Brokers
Interactive Brokers Canada Inc. · CIRO (Tier 1)
Locally licensed
EUR/USD all-in
0.6 pips
Instruments
–
Min. deposit
–
67
Coinish Score
3.7/5 rating61 signal
Visit site Review
5
AvaTrade
Friedberg Mercantile Group Ltd. (Friedberg Direct) · CIRO (Tier 1)
Locally licensed
EUR/USD all-in
–
Instruments
1,250+
Min. deposit
–
60
Coinish Score
3.4/5 rating52 signal
Visit site Review
6
Questrade
Questrade, Inc. · CIRO (Tier 1)
Locally licensed
EUR/USD all-in
1.9 pips
Instruments
–
Min. deposit
$0
58
Coinish Score
3.3/5 rating49 signal
Visit site Review

Other lists for Canada: CFD brokers · Stock brokers & investing apps · Crypto exchanges