Online brokerage
Interactive Brokers Canada Review: CIRO-Registered, Fees & Platforms
By ForexCanada Editorial Team · Updated
Canada check
CIRO dealer member headquartered in Montréal; offers French-language service.
- Canadian status
- CIRO-registered
- Canadian entity
- Interactive Brokers Canada Inc.
- CIPF coverage
- Yes (eligible accounts, within CIPF limits)
- OBSI complaints
- Yes — free, independent dispute resolution
- Accepts Canadians
- Accepts Canadian residents
- Founded
- 1978
- Headquarters
- Montréal, QC (Canadian entity); Greenwich, CT (group)
- Ownership
- Interactive Brokers Group, Inc. (NASDAQ: IBKR)
Our take on Interactive Brokers Canada
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.
Verdict
Unbeatable on cost and breadth for experienced traders, and also excellent for cheap CAD↔USD conversion. Beginners should expect a learning curve.
What we like
- +Lowest all-in FX costs we found among Canadian dealers
- +Forex, futures, options, stocks and bonds in one CIRO account
- +Cheap CAD/USD conversion for investors
- +TFSA, RRSP and other registered accounts
- +French-language service from Montréal
Watch out for
- −Complex platforms with a steep learning curve
- −No MT4/MT5
- −Leveraged FX requires meeting experience criteria
How Interactive Brokers Canada scores
Canadian protection carries 40% of the weight, so an unregistered firm can't outrank a registered one on price alone. See the full methodology.
Accounts, markets & platforms
- Platforms
- Proprietary desktop, Proprietary web, Mobile app, API, TradingView
- Markets
- Forex (100+ pairs) · Stocks · ETFs · Options · Futures · Bonds · Mutual funds
- Pricing
- Commission-based; spot FX quoted from interbank-style liquidity plus a small commission
- Minimum deposit
- $0
- Leverage
- Set by CIRO margin rates
- CAD / USD accounts
- ✓ CAD | ✓ USD
- Registered accounts
- TFSA, RRSP
- Demo account
- Available
- French service
- Yes
Figures are taken from the broker's own disclosures at our last review (2026-09) and change often — always confirm on the broker's website. Spot an error? Tell us.
Verify Interactive Brokers Canada yourself
- Look for the firm on CIRO's list of dealers it regulates.
- Search the legal entity name in the CSA National Registration Search and check it is registered in your province.
- Confirm CIPF membership in the CIPF member directory.
- Search the CSA investor alerts for the brand name and any look-alike websites.
- Make sure the account agreement you sign names the same legal entity — not an offshore affiliate.
Interactive Brokers Canada: frequently asked questions
Is Interactive Brokers Canada regulated in Canada?
Yes. Canadian clients are served by Interactive Brokers Canada Inc., a registered investment dealer and member of the Canadian Investment Regulatory Organization (CIRO). You can confirm this on CIRO's list of dealers it regulates and in the CSA National Registration Search.
Is my money protected with Interactive Brokers Canada?
Eligible accounts at CIRO dealer members are covered by the Canadian Investor Protection Fund (CIPF) if the firm becomes insolvent — generally up to $1 million per account category. CIPF does not cover trading losses.
What is the minimum deposit at Interactive Brokers Canada?
$0. Minimums change, so confirm on the broker's website before funding.
Can I open a TFSA or RRSP with Interactive Brokers Canada?
Yes. Interactive Brokers Canada offers TFSA, RRSP accounts. Note that leveraged forex and CFDs can't be held in registered accounts.
Canadian trader reviews
Reviews are submitted by readers and moderated by our editors for relevance and abuse. They are opinions, not verified facts, and never affect our score.
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