Canadian Forex Brokers – 2020 – Securities.io
We have reviewed numerous forex brokers, there are 3 brokers which have met our quality guidelines and accept residents of Canada. We recommend the following:
Forex.com is one of the most longstanding brokers in the industry. They are a member of the Investment Industry Regulatory Organization of Canada (IIROC)
They have been providing access to the forex market for traders since 2001. They now operate on a worldwide scale providing service to traders in more than 150 countries. They are also one of the few major forex brokers to offer services to US-based traders.
To match their worldwide service availability, the broker is also regulated by numerous top-tier regulatory bodies including some of the most respected in the industry. There is trusted regulation in place in both the US and Canada too which helps protect traders based there. The brokers reputation for transparency and trust, combined with a strong product offering and excellent trading costs, put it in prime position at the head of a very competitive sector.
BD Swiss founded in 2012. Since that time they have grown to become a major forex broker who now offer trading services in more than 180 countries worldwide. They are also have regulatory oversight in place from a number of trusted bodies in the industry. BDSwiss LLC is authorised and registered with the U.S. National Futures Association NFA ID: 0486419, other regulatory bodies they abide by include CySEC.
BDSwiss is also a very well-decorated broker having collected a number of awards particularly in recent years as they have expanded their industry presence. Being recognized as providing one of the best trading platform applications, as well as for their positive trading conditions and environment has helped them greatly in continuing to improve their profile among traders.
AvaTrade is able to offer trading opportunities to Canadian residents due their Collaboration with Friedberg Direct in Canada. The well known dealer Friedberg Mercantile Group Ltd. Friedberg Direct has licensed the AvaTrade Technology in order to offer AvaTrade platforms to Canadian residents.
While they were founded in 2006 in Ireland, they have since grown to become one of the top forex brokers in the sector offering services around the world.
A low minimum deposit requirement of just $100 across most of the available account types, coupled with respected regulation from a number of bodies worldwide, make AvaTrade a popular choice for new and experienced Canadian traders.
The broker offers an extensive range of assets to trade in which includes more than 60 currency pairs, and other markets for trading stocks, ETFs, crypto, and more. AvaTrade users can also avail of a very strong range of educational content with insightful material to fit all level of traders.
What is the IIROC?
This stands for: Investment Industry Regulatory Organization of Canada
The Investment Industry Regulatory Organization of Canada is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
This is a Federal regulatory body, this regulations oversees deals in all Canadian provinces.
Do these brokers accept clients from Canada?
While we feature many forex brokers on this website, only the brokers featured on this page currently accept clients from Canada. There are no national restrictions in place for individual Canadian provinces (Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec, and Saskatchewan.)
Where are there only 3 Canadian Brokers?
In an effort to protect Canadians, the Canadian Federal Government has enacted one of the strictest regulatory bodies in the world when it comes to offering investment platforms that target Canadian residents. The standards for international firms to offer forex type services are very strict. Due to the small population size of the country, most opt to simply avoid doing business in Canada.
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