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Ontario · ON

Forex and trading in Ontario

Ontario is home to Canada's largest capital market and to most of the country's investment dealers, and the Ontario Securities Commission is the busiest securities regulator in the country. Every CIRO dealer offering forex and CFDs serves Ontario residents, so Ontarians have the widest choice of registered brokers.

By ForexCanada Editorial Team · Updated

Your securities regulator

Ontario Securities Commission (OSC)

What's specific to Ontario

  • The OSC has been particularly active against unregistered crypto platforms — its 2022 actions against KuCoin and Bybit were among the first in Canada.
  • Ontario's Capital Markets Tribunal hears enforcement cases brought by the OSC; decisions are public.
  • Forex opens Sunday at 5 p.m. and closes Friday at 5 p.m. local time — Toronto is the reference time zone for the global FX week.

Registered forex brokers for Ontario residents

CIRO dealer members offering forex or CFDs that didn't exclude Ontario at our last check, ranked by our score.

  1. #1

    Interactive Brokers Canada

    CIRO-registered

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

    Platforms
    TradingView
    FX pairs
    100+
    Min. deposit
    $0
    CIPF
    Yes
    9.5/ 10
    Visit siteFull review
  2. #2

    Questrade

    CIRO-registered

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

    Platforms
    Proprietary
    FX pairs
    100+
    Min. deposit
    $0
    CIPF
    Yes
    9.4/ 10
    Visit siteFull review
  3. #3

    CMC Markets Canada

    CIRO-registered

    Best for: Traders who want the widest CFD and currency-pair range from a Canadian dealer

    Platforms
    MT4, TradingView
    FX pairs
    150+
    Min. deposit
    $0
    CIPF
    Yes

    ⚠ Alberta residents generally must qualify as accredited investors to trade CFDs.

    8.9/ 10
    Visit siteFull review
  4. #4

    FOREX.com Canada

    CIRO-registered

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

    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.

    8.7/ 10
    Visit siteFull review
  5. #5

    OANDA Canada

    CIRO-registered

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

    Platforms
    MT4, TradingView
    FX pairs
    60+
    Min. deposit
    $0
    CIPF
    Yes

    ⚠ Does not currently accept residents of Alberta.

    8.5/ 10
    Visit siteFull review
  6. #6

    AvaTrade Canada (Friedberg Direct)

    CIRO-registered

    Best for: Beginners who want MetaTrader 4/5 with a Canadian-regulated dealer

    Platforms
    MT4, MT5
    FX pairs
    50+
    Min. deposit
    About C$300 / US$250 (check current terms)
    CIPF
    Yes
    8.4/ 10
    Visit siteFull review
  7. #7

    FXCM Canada (Friedberg Direct)

    CIRO-registered

    Best for: Algorithmic and API traders who want a Canadian-regulated account

    Platforms
    MT4, TradingView
    FX pairs
    40+
    Min. deposit
    See site
    CIPF
    Yes
    8.3/ 10
    Visit siteFull review
  8. #8

    Plus500 Canada

    CIRO-registered

    Best for: Casual CFD traders who want a very simple app from a listed company

    Platforms
    Proprietary
    FX pairs
    60+
    Min. deposit
    C$100
    CIPF
    Yes

    ⚠ Not available in Québec. Alberta residents may face additional eligibility requirements.

    8.2/ 10
    Visit siteFull review

Looking for stocks, ETFs or a TFSA? See the best online brokerages. For crypto, see registered crypto platforms.

Forex market hours in Eastern Time

Ontario: common questions

Is forex trading legal in Ontario?

Yes. Residents of Ontario can trade forex through investment dealers that are CIRO members and registered in Ontario. The Ontario Securities Commission (OSC) enforces securities law in the province.

Which forex brokers accept Ontario residents?

At our last check, CIRO dealers offering forex to Ontario residents included Interactive Brokers Canada, Questrade, CMC Markets Canada, FOREX.com Canada, OANDA Canada, AvaTrade Canada (Friedberg Direct).

How do I report an investment scam in Ontario?

Contact the Ontario Securities Commission (OSC) and the Canadian Anti-Fraud Centre (1-888-495-8501). If you sent money, contact your bank immediately.

When does the forex market open in Ontario?

The global forex week runs from Sunday 5 p.m. to Friday 5 p.m. Eastern Time. See the live clock on this page for Eastern Time.