Best Forex Broker in Canada 2022

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 This rule is no longer valid today because it is possible to minimize the risk thanks to the minimum accounts.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 2022?

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.


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 2022.

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.


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.


Vantage logo

image credit: Vantage

Vantage is a famous Australian broker born in 2009 and specialized in offering trading on the Forex and CFD markets. It has its headquarters in Sydney and Cyprus with branches in the Cayman Islands and the Republic of Vanuatu in the Pacific.

More than a decade after its foundation, today Vantage is one of the most used brokers in Canada.

Vantage allows you to trade with levers up to 1: 500. Obviously, if you are not an experienced trader, it is better to trade with lower leverage!

There are 40 currency pairs available to trade Forex. The spreads applied are among the lowest in circulation.

The types of accounts offered are many and the choice may vary depending on your operations and capitalization.

The platforms available for trading are the WebTrader, the ProTrader MT4, and MT5; for mobile, there is an app that works on both iOS and Android.

There are also 3 Social Trading platforms available.

Products offered

Vantage makes over 300 tradable financial products available to clients. Here is the list of assets available for trading via CFDs:

  • 40 currency pairs
  • 13 Indices
  • CFD on 100 US, European and Australian stocks
  • CFD on "Sotf Commodities"
  • Commodities related to the energy sector, such as oil, fuel, fuel oil, etc.
  • Precious metals
  • Cryptocurrencies


Vantage FX maintains regulation from some top-tier authorities, including ASIC of Australia, CIMA of Cayman Islands) and the UK FCA.


Vantage can boast the application of very low spreads, set according to the type of account chosen by the customer. As for the commissions, they depend on the volume of lots (here we consider the range from 0.01 to 1 lot), as well as on the currency chosen for the transactions.


Vantage offers customers three lines of contact, namely:

  • Live chat online 24/7
  • Support via email via [email protected]
  • Assistance by phone: +44 2080 363 883

Our opinion on customer service is positive, as Vantage operators guarantee a response within 24 hours of sending the request, with timely feedback consistent with the issue highlighted.

Pros and Cons

  • Well regulated
  • Tight spreads
  • Fast and free withdrawals
  • Great platform choice
  • High minimum deposit
  • High withdrawal fees

Read our Vantage review.

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

CMC Markets

CMC markets

image credit: CMC Markets

Founded in 1989, CMC Markets is one of the older brokers on the market. By being able to offer the services online, the broker has significantly expanded its target group and now has customers in more than 100 different countries. Active as a market maker, CMC Markets primarily focuses on trading CFDs.  Here traders can trade very classic underlyings, but also decide to bet on the cryptocurrencies.

This CMC Markets review shows that the broker is good through a variety of opportunities for profitable trading, an innovative service, a proprietary terminal, fast transactions and other advantages.

The broker, despite the extensive and successful experience of cooperation with market players, continues its development and does everything to increase the number of clients of the platform.

Products offered

CMC Markets provides about 10,000 global financial products including stocks, indices, Forex, bonds, cryptocurrencies, and other major asset classes.


CMC Markets is regulated in Canada by the IIROC. This broker is also licensed by the UK FCA, Australian ASIC, as well as the New Zealand FMA.

These regulators show that this broker is reputable and a CMC Markets scam is impossible. The authorization of CMC Markets offers certain security for the trader. If a broker is regulated, a check is carried out with regard to compliance with the requirements.


CMC Markets money through the spread and commissions on share CFDs. There are no additional fees (except for $10 inactivity fees after one year). There are also no fees for deposits and withdrawals. However, there may be a fee for an "express transfer" (not absolutely necessary).


The customer desk is available 24 hours a day from 9 p.m. Sunday to 10 p.m. Friday. The communication channels available are telephone, email, and instant web chat.

The support page has a glossary of approximately 220 financial market terms and detailed definitions. It also has top Frequently Asked Questions (FAQs) grouped accordingly.

The broker is also available on social media; Facebook, Twitter, LinkedIn, and YouTube.

Notably, CMC Markets supports a wide range of languages ​​including English, German, French, Polish, Spanish, Swedish, Italian, and Norwegian.

Pros and Cons

  • Well regulated
  • Good variety of trading platforms.
  • Interesting range of tools available.
  • No deposit is required to get the bonus.
  • A program for active traders with special benefits.
  • Guaranteed stop loss tool for risk management.
  • No copy trading.
  • No social trading options.

Read our CMC Markets review.