Brokers for Canadians


Staff member
Canadians have a few options with trade-offs:

"On shore" brokers
with offices local to Canada that are well regulated, offer insurance against the broker going bust, and often come with cheap and fast bank transfers for deposits and withdrawals.

Offshore brokers who can service Canadian residents, can be well regulated with access to much higher leverage and tighter spreads, but lack deposit insurance and will likely have limited fee based funding methods.

As always, sticking with a well regulated broker is highly encouraged.

On shore, IIROC regulated (variable leverage per pair maxing out ~33:1 on CAD crosses,) with CIPF protection:
Oanda Canada
  • Fast, easy, and free bank transfers to local Canadian banks
  • Canadian company with local headquarters
Gain Capital / forex . com
  • Canadian branch of US company.
Interactive Brokers Canada
  • Based in Montreal locally but part of a larger US firm
  • Minimum $2.5 USD commission per side of each trade, so not cost effective unless you're trading a minimum of $50k+ ticket size

Offshore, FCA and/or ASIC regulated:
  • FCA / ESMA set leverages around 30:1 for retail and 100:1 for professional
  • Investors Exchange - letting you invest in other traders alongside your own trading
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