Here you will find our best Canadian brokers list according to many hours of broker research, testing, analysis and comparison across hundreds of Canadian brokers. By having all of the best brokers in Canada listed in one place, we aim to make it simple for you to quickly identify the best Canadian brokers according to your own individual trading needs.

Top 5 Brokers Canada

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.

ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA

Min $100 Deposit

2006

1:400

71% of retail investor accounts lose money when trading CFDs with this provider.
2.

ASIC, CySEC, SVGFSA

Min $100 Deposit

2005

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
3.

ASIC, CFTC, FCA, FSA, IIROC, JFSA, NFA, CIMA, SFC

Min $100 Deposit

2001

1:50

79% of retail investor accounts lose money when trading CFDs with this provider.
4.

FCA, ASIC, IIROC, NBRB

Min $100 Deposit

2013

1:200

81% of retail investor accounts lose money when trading CFDs with this provider.
5.

FCA, ASIC, MAS, FMA, IIROC

Min $1 Deposit

1989

1:500

75% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

We have chosen these as our best brokers in Canada as they are regulated and have passed our strict broker reviews with flying colours. We have awarded them a top broker rating for the online trading services that they provide to traders located in Canada.

How did we choose our best brokers in Canada?

First and foremost, the Trading Brokers review team ensured that the Canadian broker was regulated and authorised to provide online trading services to traders in Canada. We then conducted many hours of thorough research and analysis into the brokers services.

From there, we were able to collate what we consider to be amongst the most important factors to consider when choosing the best Canadian brokers and allocated them an unbiased broker rating based on our findings.

In order for an online broker to make it into our best brokers Canada list, they should be regulated and offer top trading conditions, including tight spreads, low commissions and reliable trade execution speeds.

The broker should also have easy to use trading platforms that are compatible with multiple devices along with trading tools and educational resources to assist traders with their daily trading activities.

Other factors that we consider to be important for a broker to make it on to the best brokers Canada list include the variety of funding options provided, account types, minimum deposit, customer support and range of trading instruments available to trade online.

Regulation

Any trading broker that is offering services to traders in Canada should be authorised and regulated. Using a regulated broker can give investors some protection that unregulated brokers cannot.

Trading Platforms

The best Canadian brokers should have a variety of different trading platforms for multiple devices including desktop, web and mobile trading apps. The brokers trading platforms should be user friendly, with plenty of trading tools and advanced functionality for all types of trading strategies.

Trading Instruments

The brokers should provide Canadian traders with a wide range of trading instruments across multiple asset classes including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, ETFs, CFDs. The more choice that the broker has, the easier it would be to expand your portfolio in the future, should you wish to do so.

Spreads

When you place a trade position with a broker, you will usually need to pay the spread which is the difference between the bid and ask prices at the time of executing your order. In general, the lower the spreads, the cheaper the trading costs can be and the better the prices you may have your trade executed at. Although, this can also be dependent on other factors such as the brokers liquidity, slippage and execution model.

Commission

Many Canadian brokers will charge a small commission fee for each trade that you place with them. The lower the commission fee per trade, the lower your overall trading costs can be in the long term. Some trading strategies actually depend on low commissions. Thus, the best Canadian brokers should have the most competitive commissions.

Fees

In addition to the spreads and commissions that brokers may charge, there can be additional fees. These include overnight swap fees, funding fees, platform fees, trading tool fees, educational resource fees, etc. Any other fees charged by the broker should be competitive and transparent to the trader.

Execution Speeds

The execution speed can determine the price your order will be executed at. Instant execution should mean that the order is placed as close to your desired price as possible. The best Canadian brokers should have rapid execution speeds with minimal slippage so that traders get the best available prices more often than not. Some trading strategies such as scalping are dependent on reliable execution speeds.

Liquidity Providers

The best brokers in Canada should have top liquidity providers (LPs) with deep liquidity pools so that they can offer competitive bid/ask prices along with reliable trade execution speeds.

Trading Tools

Whilst the trading platforms offered by brokers will usually have more than enough trading tools for the average trader, there are some brokers who offer additional trading tools such as economic calendars, trading calculators, market analysis, trading signals and more. The best brokers in Canada will usually offer some additional trading tools to support traders with their daily trading activities.

Educational Resources

Educational resources can help traders to improve their trading skills and knowledge. They also encourage informed trading. The best brokers will usually offer clients a range of free educational materials such as tutorial videos, trading guides, eBooks, trading glossary, FAQs, webinars and seminars.

Account Types

Trading brokers can have a variety of different account types that are designed to cater to the differing needs of clients. The accounts can vary according to the minimum deposit required, leverage offered, execution type, spreads, commissions, instruments, additional services and more.

The best Canadian brokers should have a selection of account types for different experience levels and trading strategies. Demo accounts can be useful to practice trading online with virtual funds whilst Islamic accounts that comply with Sharia law support Muslim traders.

Account Funding Options

In order to trade online, you will need to be able to deposit and withdraw funds to and from your trading broker account. Brokers can offer a range of different account deposit and withdrawal methods. This will often include bank transfers, credit/debit card and online payment processors such as Skrill, Neteller and PayPal. The best brokers in Canada should have a variety of convenient funding options. It is worth considering the time taken and any fees involved for processing funds.

Customer Support

Most Canadian brokers can be reached via telephone, email and live chat. It is worth ensuring that the broker can be reached in a way that is convenient for your needs. The brokers customer support team should be prompt, polite and efficient in their responses to all clients general and technical questions. You may wish to consider if there is any different between your time zone and the brokers support hours, as this could have an impact on response times.

Best Forex Brokers Canada

On this page you will find what we consider to be the best Canadian forex brokers according to our thousands of hours of detailed research and analysis across hundreds of forex brokers that offer online trading services to clients in Canada and worldwide.

To make it into our list of the best forex brokers Canada, each broker needs to be regulated and authorised to offer forex trading in Canada. The broker should also have a good selection of currency pairs for trading, sophisticated trading platforms for multiple devices, competitive fees/spreads, good execution speeds, selection of trading tools, educational resources, flexible account types, convenient funding options and excellent customer support.

With so many forex brokers to choose from, we have compiled a list of our best forex brokers in Canada below.

Top 5 Forex Brokers Canada

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.

ASIC, CySEC, SVGFSA

Min $100 Deposit

2005

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
2.

ASIC, CFTC, FCA, FSA, IIROC, JFSA, NFA, CIMA, SFC

Min $100 Deposit

2001

1:50

79% of retail investor accounts lose money when trading CFDs with this provider.
3.

FCA, ASIC, IIROC, NBRB

Min $100 Deposit

2013

1:200

81% of retail investor accounts lose money when trading CFDs with this provider.
4.

FCA, ASIC, MAS, FMA, IIROC

Min $1 Deposit

1989

1:500

75% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
5.

CFTC, NFA, IIROC, FCA, MAS, ASIC, FFAJ, BVI

Min $1 Deposit

1996

1:200

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

We chose these brokerage firms as our best forex brokers in Canada due to the fact that they are regulated by IIROC and have received a top broker rating for providing online forex trading to Canadian traders after being subject to our detailed forex broker reviews.

How did we choose our best forex brokers in Canada?

The most important factor for the Trading Brokers team to consider when choosing the best Canadian forex brokers was that the brokers are regulated and authorised to provide forex trading services in Canada. Once the brokers regulation had been confirmed, we then researched and analysed the brokers forex trading service in great detail and assigned them with an unbiased broker rating based on our own findings. During this research, we gave great consideration to what we deem to be amongst the most important factors to consider when choosing the best forex trading brokers, including:

  • Regulation: A forex broker in Canada should be regulated to offer brokerage services in Canada.
  • Trading Platforms: The forex broker should offer traders a range of the best trading platforms that are user friendly, intuitive and compatible across multiple desktop, web and mobile devices.
  • Trading Instruments: They should have a large selection of minor, major and exotic currency pairs for trading.
  • Spreads: The forex brokers spreads on currency pairs should be competitive and as low as possible.
  • Commission: The commission charged for trading forex currencies should be competitive, the lower the better.
  • Fees: Any additional fees such as accounting, inactivity, etc, should be made clear to traders from the get go.
  • Execution Speeds: The forex broker should have reliable trade execution speeds with minimal slippage.
  • Liquidity Providers: Ideally, the forex broker will have a vast pool of liquidity providers (LPs) in order to deliver consistent execution speeds and tight spreads.
  • Trading Tools: The forex broker should provide a vast array of trading tools for analysing charts, planning and managing trades, trading signals, social trading, etc.
  • Educational Resources: Most new traders will need a selection of educational materials on different trading topics to help them improve their trading skills and knowledge. Training tools can include video tutorials, trading guides, webinars, etc.
  • Account Types: There should be flexible account options to suit different trading styles and budgets.
  • Account Funding Options: The forex broker should offer a choice of convenient account deposit and withdrawal methods.
  • Customer Support: The forex brokerage should have a prompt, polite and knowledgeable customer support team on hand to answer traders general and technical questions.

Canadian forex broker regulation

Forex trading is the speculating on the price of one currency against another currency, commonly known within the trading community as a currency pair. Online forex trading has increased in popularity over the years with many online brokers opening which has given traders a vast choice of brokers who are all competing for their business. This can make it difficult to choose the best forex brokers in Canada.

We believe that it is of upmost importance that a forex broker providing services to traders in Canada is regulated and authorisd to provide forex trading services. Using a regulated broker helps to give traders peace of mind that they are using a forex broker which is subject to strict rules and regulations put in place to help protect investors. It is worth mentioning that there are some non-Canadian forex brokers that still solicit clients located within Canada. There are also Canadian forex brokers who offer online forex trading services to clients located in some countries outside of the Canada. In this instance, it would be a considered a wise idea to ensure that the forex broker in question has the relevant regulation within the jurisdiction that they operate from.

Investment Industry Regulatory Organization of Canada (IIROC)

The Investment Industry Regulatory Organization of Canada is the national self-regulatory organisation which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. IIROC was established as a non-profit corporation on June 1st, 2008 as part of the consolidation of the Investment Dealers Association of Canada (IDA) and the Market Regulation Services Inc. (RS).

IIROC operates under Recognition Orders from the Canadian Securities Administrators (CSA), which is the umbrella for Canada’s provincial and territorial securities regulators. IIROC is subject to CSA oversight and regular operational reviews. The organisation sets regulatory and investment industry standards and has quasi-judicial powers in that it holds enforcement hearings and has the power to suspend, fine and expel members and registered representatives.

Verifying the regulation of forex brokers in Canada

If a forex broker is licensed and regulated, they should be provided with a registration number as proof that they are registered. This number is usually located on the brokers website, near the footer where they state who they are regulated by. You should check on the relevant regulators website to validate the current status of the broker registration to ensure that it is valid and up to date. It has been known for some scam brokers to fake regulation, some even going as far to clone another brokers website. When you are looking up the registration number, you should find details of the forex broker including their website, contact details and if they have any cases brought against them.

Best Stock Brokers Canada

Here you will find our best Canadian stock brokers list based on our unbiased stock broker reviews and ratings. The Trading Brokers expert research team have researched and analysed hundreds of online stock brokers to save you time when choosing from the best stock brokers in Canada.

In order to make it into our best stock brokers Canada list, the brokerage should provide traders with a large selection of global stocks for trading on the best trading platforms with competitive fees. They should have a selection of trading tools for analysing the stock markets and educational materials to help traders to increase their stock market knowledge and trading skills.

In addition to this, the broker should have a choice of flexible account types to suit different investment sizes and experience levels. Most importantly, a Canadian stock broker should be regulated and authorised to offer stock trading in Canada.

With there being so many Canadian stock brokerages for traders to choose from, we have compiled a list of our best stock brokers in Canada below.

Top 5 Stock Brokers Canada

Broker
Rating
Regulated
Min. Deposit
Founded
Max. Leverage
1.

ASIC, CySEC, SVGFSA

Min $100 Deposit

2005

1:500

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.
2.

ASIC, CFTC, FCA, FSA, IIROC, JFSA, NFA, CIMA, SFC

Min $100 Deposit

2001

1:50

79% of retail investor accounts lose money when trading CFDs with this provider.
3.

FCA, ASIC, IIROC, NBRB

Min $100 Deposit

2013

1:200

81% of retail investor accounts lose money when trading CFDs with this provider.
4.

FCA, ASIC, MAS, FMA, IIROC

Min $1 Deposit

1989

1:500

75% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
5.

CFTC, NFA, IIROC, FCA, MAS, ASIC, FFAJ, BVI

Min $1 Deposit

1996

1:200

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

We chose these online trading brokerage firms as our best stock brokers in Canada primarily due to the fact that they are regulated and have received a top stock broker rating for providing online stock trading to Canadian traders after being subject to our detailed stock broker reviews.

How did we choose our best stock brokers in Canada?

The first thing we did was to make sure that any broker under consideration for the best stock brokers in Canada was regulated and authorised to offer stock brokerage services in Canada. Upon confirmation that the broker was regulated, we conducted in-depth research and detailed analysis on the services provided. Based on our findings of what we consider to be some of the most important factors worth considering when choosing an online stock broker, we were then able to assign them with a stock broker rating. Some of the key things we considered include:

  • Regulation: A stock broker should be regulated and authorised to offer stock trading in Canada.
  • Trading Platforms: The stock broker should have a range of the best stock trading platforms with user friendly interfaces and trading tools for analysing the stock markets. The platforms should be compatible on desktop, web and mobile devices for trading stocks whilst on the move.
  • Trading Instruments: The stock broker should offer a large selection of global stocks in different markets for trading online.
  • Spreads: The stock brokers spreads should be competitive, the tighter the better.
  • Commission: The commission charged for trading stocks should be priced low.
  • Fees: Other fees such as those charged for deposits, withdrawals, account inactivity, holding positions overnight, etc, should all be made clear.
  • Execution Speeds: Traders buy or sell stock positions should be entered with minimal delays.
  • Liquidity Providers: The stock broker should utilise top tier liquidity providers (LPs) in order to offer a deep liquidity pool to traders.
  • Trading Tools: There should be a good selection of trading tools for analysing the stock markets, planning and managing positions, receiving trading signals, social trading, etc.
  • Educational Materials: The stock broker should consider new traders by offering them a variety of educational resources on different stock trading topics to help them improve their trading skills and knowledge. Training tools can include video tutorials, stock trading guides, webinars, etc.
  • Trading Accounts: The stock broker should offer a choice of flexible trading accounts to cater for different levels of investment and experience levels.
  • Account Deposit & Withdrawal Methods: There should be a choice of convenient account funding options, ideally including online payment processors for fast and easy account funding.
  • Client Support: The stock brokerage should offer efficient and well-educated client support in order to respond in a polite and prompt manner to all general and technical questions that stock traders may have.

Canadian stock brokers regulation

Online stock trading is a popular form of online trading that enables the trader to speculate on the rising or falling prices of a particular company or basket of selected stocks known as Indices. An online stock brokerage acts as the intermediary between you the trader and the exchange where the stocks are traded. Anyone can open a trading account with an online brokerage and use their online stock trading platform to buy and sell stocks. In recent years, online stock trading has continued to increase in popularity and with so many Canadian stock brokerages to choose from, it can make it difficult for traders to choose the best stock broker in the Canada according to their own needs.

For the team here at Trading Brokers, we believe that one of the most important things to consider when choosing from the best Canadian stock brokers, is that the brokerage firm is regulated. Using a regulated stock broker can give online traders the peace of mind that they are using a brokerage that must abide by strict rules and regulations put in place to protect investors.

It is worth mentioning that there are some non-Canadian stock brokers that still solicit clients located within Canada. There are also Canadian stock brokers who offer online stock trading services to clients located in some countries outside of the Canada. In this instance, it would be a considered a wise idea to ensure that the stock broker in question has the relevant regulation within the jurisdiction that they are operating from.

Investment Industry Regulatory Organization of Canada (IIROC)

The Investment Industry Regulatory Organization of Canada is the national self-regulatory organisation which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. IIROC was established as a non-profit corporation on June 1st, 2008 as part of the consolidation of the Investment Dealers Association of Canada (IDA) and the Market Regulation Services Inc. (RS).

IIROC operates under Recognition Orders from the Canadian Securities Administrators (CSA), which is the umbrella for Canada’s provincial and territorial securities regulators. IIROC is subject to CSA oversight and regular operational reviews. The organisation sets regulatory and investment industry standards and has quasi-judicial powers in that it holds enforcement hearings and has the power to suspend, fine and expel members and registered representatives.

Verifying a Canada stock brokers regulation

If a stock broker claims to be licensed and regulated to operate in Canada, they should have a registration number to evidence this. This registration number will usually be located near the footer of the brokers official website. It would be a sensible idea to check that the brokers registration is valid and up to date on the relavant regulators website. There are unfortunately scam brokers to be wary of. These scam brokers have been known to fake regulation with some even going as far to clone another brokers website. When you are checking a broker’s registration number, you should verify that the details of the brokerage firm including their website and contact details are provided and if they have any cases brought against them.

Best Canadian Brokers Summary

Whilst these are what we consider to be amongst the most important things to consider when choosing a Canadian broker, it can differ depending on individual needs. Thus, it is important that you choose a broker that meets your needs and use the above information only for educational purposes and not as advice.