Best Forex Broker in Canada 2024

How many times have you heard: you should be an experienced trader who can handle financial losses, forex trading is not suitable for all investors. This rule is no longer valid today because it is possible to minimize the risk thanks to the minimum accounts.

First, you need to choose the best Forex Broker that will allow us to eliminate the risks and above all not run into scams. However, the number of Forex and CFD online trading brokers has increased in recent years, and the choice could also be complex.

For both novice and advanced traders, the most important parameters to consider when choosing a broker are:

  • Products offered: which financial instruments is it possible to trade online with your preferred broker
  • Regulations: how reliable this broker is and why you should choose it as your broker to invest in the financial markets.
  • Costs: such as commissions and spreads on transactions; swap rates etc.
  • Customer support: this is essential to receive information on the services offered by the broker, but also to remedy any technical problems of the platform that prevent its operation temporarily.

In this article, we make it easier for you to choose the best Forex broker in Canada. With absolute certainty and after having tested the platforms, the best Forex brokers in Canada are:

Before going into research, try to always keep in mind these fundamental rules for trading on Forex:

  1.  Find the broker most in line with your personal needs and characteristics.
  2. Always start in DEMO mode, practicing with virtual money.
  3. When you feel ready to move to real money, start with small amounts and very low leverage. Never, ever trade with money you cannot afford to lose.
  4. Start outlining your personal trading strategy, based on your personal characteristics.
  5. Never execute any Forex trade without a protective stop-loss on the open position.
  6. Keep track of the operations carried out; analyze your gains and losses and whether you have been able to handle your emotional side.

Remember that online Forex trading is not a hobby and you don't get rich overnight: keep studying and improving in what is actually a real business.

What is the best Forex broker in Canada in 2024?

The platforms below are regulated and tested by our staff with which it is possible to trade forex.



XTB is a trading broker and we can place it among the best online trading platforms. The broker was founded in 2002, the head office is located in London, UK, plus offices in over 13 countries around the world such as Poland, Germany, France, Turkey, etc.

XTB, a leading broker in the sector and specialized in the Forex, CFD, and equity market with over 16 years of presence in the market and chosen to date over 352,000 clients in various countries, has just announced the launch of a new offering of Real Shares, available to all Canadian customers.

Canadian investors can decide to invest in about 3000 real shares, as well as of course trading on other instruments including forex, commodities, indices, ETFs, and CFDs on Cryptocurrencies. XTB is widely used because it allows you to trade completely free of charge without making any deposit to use a demo account.

Great for those who have never traded who can learn to invest without losing their money, so XTB opinions are very positive. The XTB platform offers the possibility to access a wide range of quotes in real time.

XTB also boasts of being an award-winning platform thanks to the exclusive features that make XTB a unique and inimitable Broker from an operational point of view.

Products offered

XTB offers its clients a wide range of financial instruments, which include commodities, stock indices, cryptocurrencies, ETFs, currency pairs, ETFs, and much more.

Read More: Best CFD Brokers in Canada 2024


XTB is regulated by the FCA of the United Kingdom, Cysec of Cyprus, the Comision Nacional del Mercado de Valores, the International Financial Services Commission of Belize, the Polish Securities and Exchange Commission and controlled by the Polish Financial Supervisory Authority KNF.


The cost of trading with XTB is low, in many cases there's no withdrawal fee, and some clients are eligible for free stock and ETF trading. However, XTB does charge a fee for inactive accounts.


Customer support is available 24 hours a day, 5 days a week, you can contact them in different ways, telephone, e-mail, live chat, Twitter and Facebook through direct messages.

Pros and Cons


- International presence and fund protection

- Advanced trading platform

- Proven transparency and reputation

- Comprehensive trading tools

- Competitive trading conditions

- Good quality of training


- Limited deposit and withdrawal methods

- No MetaTrader platform

Read our XTB broker review.

If you are interested in this Canadian broker, you can create an account using the link below.


Established in 2006, Avatrade is among the safest Forex trading companies that currently perform this service in Canada. This broker is professional, and regulated, and is in possession of all the mandatory authorizations that make it a completely safe, reliable, and the best Canadian Forex broker in 2024.

Formerly known as AvaFX, AvaTrade manages trading volumes of over $60 billion per month. If you are looking for a company with experience and reputation in Forex, according to the opinions of users AvaTrade can be the broker through which to invest.

AvaTrade assures Canadian clients that the broker's accounts are completely separate from the client's accounts. This means that AvaTrade cannot have direct access to traders' money.

Products offered

Avatrade allows you to trade over 50 Forex pairs and CFDs on commodities (commodities), indices, stocks, ETFs, bonds, cryptocurrencies, and classic options.

Want to trade CFD as well? We recommend the following 3 CFD Brokers.
5.0/5 Review
Visit Site
IronFX Review
Visit Site
FXTM Review
Visit Site


Avatrade is a serious broker regulated by 6 entities from 5 different continents: Central Bank of Ireland, BVI, FSA, FFAJ, FSB, and ASIC.


AvaTrade does not charge any deposit fees. Also, this broker does not charge any commission fees, which means that AvaTrade will not charge you for executing your buy or sell orders. However, AvaTrade does apply an inactivity fee of $50 after 3 months of inactivity. AvaTrade makes its money off the cost of opening and closing a trade reflected in the spread.


During our AvaTrade review, we reached out to the broker on different occasions and with different requests, and we have found total transparency and good speed in the response of the requests. Customer support is available Monday through Friday, at main languages, via chat, e-mail and by phone.

Pros and Cons

- Regulated

- Suitable for beginners and advanced;

- Free Demo Account *

- Very affordable spreads;

- Trading and training course;

- Minimum Deposit is $250

- Mobile platforms for iOS and Android ;

- Excellent customer support

- Trading signals ;

- Suitable for beginners and advanced.


- Chat and email only assistance.

- Single trading platform.

- 21-day Demo Account.

Read full Avatrade review.

If you are interested in this Canadian broker, you can create an account using the link below.

FP Markets

FP Markets Logo

First Prudential Markets Ltd is the holding company that owns the FP Markets brand and was founded in 2005 in Sydney, Australia.

Currently, the Broker has many other offices spread over various continents. This diversification has allowed the intermediary to develop a whole range of services to meet the needs of traders all over the world.

Products offered

FP Markets offers its customers the possibility of trading online on CFDs, forex, cryptocurrencies, commodities, metals, equity, indices, and stocks for a total of approx 10 thousand financial products.


FP Markets is ASIC and CySEC regulated.


  • By trading CFDs with the Standard account you will not pay commissions but only a variable spread depending on the traded assets.
  • With the RAW account the commissions are $3 per trade but the spreads drop to almost zero.
  • Using the Iress platform with direct access to the stock market, you will pay small commissions, which vary according to the stocks chosen.

Overall, the system provided by this Broker is among the cheapest on the market.


In our review, FP Markets' customer service was proved quick and of a good standard, able to respond with transparency to the questions we ask. The assistance service is 24/7 via live chat, email, and telephone in different languages.  Each trader is also assigned a dedicated account manager by contact if necessary and to provide information, advice, and operational support. From our experience and during our FP Markets review, the quality of the support service offered was superior to the average of reviewed brokers.

Pros and Cons


- Low spreads

- High financial leverage

- Good reputation

- Over 15 years of experience

- 24/5 support


- Limited product portfolio

Read our FP Markets review.

If you are interested in this Canadian broker, you can create an account using the link below.

Interactive Brokers

Interactive brokers

image credit: Interactive Brokers

Interactive Brokers is an internet broker that offers many investment options including stocks, bonds and mutual funds as well as ETFs, options and futures in Canada. You can also trade forex with them. Interactive Brokers will be reviewed in detail to determine if they are a good fit for you investment needs.

Interactive Brokers offers online trading in a variety of financial instruments including options, stocks, bonds, futures and forex. The company was established in 1993. It is headquartered in Greenwich in Connecticut. Interactive Brokers operates in 14 countries, and has more than 100 customers.

Pros & Cons

- International trading opportunities with low commissions and fees

- Tools and platforms for competitive trading

- There are many account types

- Mutual funds with no transaction fees in thousands

- You can invest in cryptocurrency for bitcoin cash, ethereum and litecoin


- Less active traders pay more for IBKR Pro

- Site navigation can be complicated.


easyMarkets is an international leader in online trading, serving over 200,000 clients across 160 countries. easyMarkets trademark is owned by EF Worldwide Ltd. easyMarkets partners with Real Madrid C.F.

CySEC, FCA, and ASIC license and regulate easyMarkets.

EasyMarkets owns its web trading platform, the easyMarkets Platform. They also offer industry-standard MT4 or MT5. Integration with TradingView is also available through easyMarkets

A mobile app is also available for iOS and Android.

easyMarkets Products

EasyMarkets provides a variety of products, including Forex, CFDs, and metals.

EasyMarkets allows Forex trading with more than 60 currency pairs.

EasyMarkets offers stock CFDs for the US, EU, AU and Japan shares.

EasyMarkets offers 17 Crypto-to-USD pairs. Trades are also possible in gold, silver and palladium as well as crude oil, natural gases, agricultural commodities, Indices, and platinum.

Pros and cons of easyMarkets


- It is fully licensed and regulated.

- They offer competitive spreads with no commissions

- There are many levels of leverage available, from 1:1 to 1:500

- There are many deposit and withdrawal options, including bank transfers, credit/debit cards and e-wallets.


- Spreads Comparatively High

- Hedging is not allowed by easyMarkets

Click this link to trade with easyMarkets


Best Forex Brokers in Canada 2024

Next Read: Best Social Trading Platforms in Canada 2024