ECN, STP & Commission-Based Forex Brokers in Canada

Interactive Brokers Canada

Best for: Experienced, cost-sensitive traders who want forex, futures, options and global stocks in one account

Interactive Brokers Canada, based in Montréal, gives Canadians access to IBKR's global market network: spot currencies, futures, options, stocks and bonds across dozens of exchanges, all in a CIRO-regulated, CIPF-eligible account. For currency traders it is the lowest-cost route in Canada — IBKR quotes very tight FX prices and charges a small commission instead of marking up the spread, and it is also one of the cheapest places for Canadians to convert CAD to USD. The trade-off is complexity. Trader Workstation is a professional tool, and leveraged FX requires meeting IBKR's experience requirements. There is no MetaTrader support.

Platforms

TradingView

FX pairs

100+

Min. deposit

$0

CIPF

Yes

Questrade

Best for: Canadians who want TFSA/RRSP investing and forex/CFD trading with one Canadian firm

Questrade is Canada's best-known independent discount brokerage and, since dropping stock and ETF commissions, one of the cheapest places to invest in a TFSA, RRSP or FHSA. It is also one of the few Canadian firms that offers both long-term investing and leveraged trading: forex and CFDs run on the separate Questrade Global platform. Having everything under a Canadian-owned CIRO member is convenient — funding is straightforward from any Canadian bank, and support works on Canadian hours. FX/CFD spreads are not the tightest in the market, and Questrade Global doesn't support MetaTrader or TradingView trading.

Platforms

Proprietary

FX pairs

100+

Min. deposit

$0

CIPF

Yes

FOREX.com Canada

Best for: Active forex traders who want MT5, TradingView and commission-based pricing

FOREX.com is owned by StoneX Group, a NASDAQ-listed financial services firm, and serves Canadians through GAIN Capital - FOREX.com Canada Ltd., a CIRO dealer member. It is one of the most complete Canadian forex offers: a large pair list, MT4 and MT5, its own web and mobile platforms, and TradingView connectivity. Active traders can choose commission-based pricing instead of wider spread-only quotes, which is rare among Canadian dealers. The low minimum deposit makes it accessible, but Albertans should expect extra eligibility steps for CFDs because of provincial rules.

Platforms

MT4, MT5, TradingView

FX pairs

80+

Min. deposit

$100

CIPF

Yes

⚠ Alberta residents generally must qualify under a prospectus exemption (e.g. accredited investor) to trade CFDs.

OANDA Canada

Best for: Canadians who want a pure-play forex specialist with TradingView and MT4

OANDA has deep Canadian roots — its Canadian dealer is based in Toronto and has served retail currency traders here for more than two decades. It is one of the few CIRO members that is primarily a forex specialist rather than a bank or multi-asset brokerage, which shows in the product: dozens of currency pairs, a clean web platform, MT4 and direct TradingView trading. Pricing is transparent, with no minimum deposit, and the firm publishes historical spread data so you can see what you actually paid. The main limitation is geography: OANDA does not open accounts for Alberta residents, and like every Canadian dealer its leverage is capped by CIRO margin rates rather than the 500:1 offshore brokers advertise.

Platforms

MT4, TradingView

FX pairs

60+

Min. deposit

$0

CIPF

Yes

⚠ Does not currently accept residents of Alberta.