A CFD and Forex broker based in Australia offering over 250 products, no spreads on most currency pairs, no minimum deposit and a demo account to test their platforms and tools. Please note that Fusion Markets is not available in the Ontario region. Trading platforms grant access to the foreign exchange market and allow you to analyze market conditions, manage positions, and execute trades. Check out a side-by-side comparison of the trading platforms available at the best Canada forex brokers, based on our independent product testing. FOREX.com, part of the StoneX Group, is a highly trusted brand with a long history of offering forex in the U.S. and across the globe.
Ross tested 15 forex brokers with his MT4 platform using the IceFX SpreadMonitor indicator to record the average spreads for the six major forex pairs. Wide Range of Trading PlatformsConsidering the low costs, FP Markets offers an extensive range of forex trading platforms so you can choose which platform is best for your needs. AvaTrade is one of the only CIRO-regulated brokers that offer fixed spreads.
Crypto Trading
- USD/CAD was also 62% lower than its industry average (0.62 pips), recording an average spread of 0.23 pips.
- One of the things we like about FBS is its educational focus through the FBS Academy, which offers resources to help you improve your forex trading skills.
- I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades.
- MetaTrader 5 is a multi-asset institutional platform available in Canada with a large number of features for traders.
- While traders have different needs, certain core requirements will always ensure a secure and competitive trading environment.
Forex.com offers traders a wide range of options when it comes to trading platforms. Vantage is a global multi-asset broker founded in 2009, offering trading on forex, CFDs, commodities, indices, shares, and cryptocurrencies. Vantage provides MetaTrader 4, MetaTrader 5, and proprietary platforms. Vantage is regulated by multiple authorities including ASIC, FCA, and CIMA.
Canada Forex Brokers
Opinions, market data, and recommendations are subject to change at any time. Managing funds is important for traders, so we evaluated the deposit and withdrawal options available. We looked at the variety of methods offered, the speed of processing transactions, and any fees involved.
Who Are The Best CIRO Regulated Forex Brokers?
In addition, Fp Markets register Canadian traders under an offshore regulator which makes trading with them more risky. The minimum forex broker listing amount required to start Forex trading in Canada varies depending on the broker. Some brokers offer accounts with no minimum deposit, while others require a certain minimum balance to start trading.
An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. Pepperstone offers a rich platform experience for MetaTrader enthusiasts. It also offers nearly every third-party platform available on the market, including cTrader and TradingView. Pepperstone won Best in Class honors for our MetaTrader in the ForexBrokers.com 2025 Annual Awards (extending a streak the broker has held onto for a stunning 8 years).
- Download the MT5 platform either directly from the MetaQuotes website or through the broker’s site if they offer a customized version.
- You can verify that a broker is CIRO-regulated by checking the broker’s website.
- Vantage is known for fast execution, competitive spreads, and extensive educational resources.
- You can do that by scrolling down to the bottom of the homepage of the Forex broker to see their regulatory information.
Can Canadians use international MT5 brokers
We like that you can use Capitalise.ai to test and automate your strategies by simply writing the rules for your strategy. The AI will develop the automation, which can be used for free on the MetaTrader 4 and Trading Station platforms. If you want to automate your trades, you can do so without coding knowledge through FXCM’s partnership with Capitalise.ai, which is a big plus in our books. For example, we downloaded and installed the Daily Extremes indicator to test, which was easy to install and set up. This indicator allows us to see the previous days’ highs and lows through a dynamic support and resistance level, which is helpful for day trading as these are considered major levels.
Make sure to check the CIRO regulation of the Forex broker of your choice before creating a demo account. MT5 or metatrader 5 is a free program for traders to trade forex and CFD’s using technical analysis tools and other trading features. Metatrader is a popular forex trading platform and it is why many traders prefer its platform over others. Metatrade 5 is the newest version of metatrader and is the successor to Metatrader 4. I trade the major Forex pairs, some Futures contracts, and I rely entirely on Technical Analysis to place my trades. I began trading the markets in the early 1990s, at the age of sixteen.
MT5 has more order types, timeframes, 44 graphical objects, and a better strategy tester. This why it is to crucial to not only choose MT5, but also the right account with a low fee structure. However, you won’t be able to open an account with FP Markets for regulatory reasons if you live in Ontario or British Colombia, in which case we’d recommend either LiteFinance or 4XC. Traders Union (TradersUnion.com) shall not be liable for the consequences of trading decisions made by the Client and for the possible loss of his capital resulting from the use of this website and information published on it. MT5’s complexity might be daunting for beginners who may find its advanced features overwhelming compared to the more straightforward MT4.
Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk. According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit. Trading in futures and options carries substantial risk of loss and is not suitable for every investor. Both MetaTrader 4 and MetaTrader 5 platforms are widely used and accepted in Canada.
Best MT5 Brokers In Canada
It’s worth noting though that the scope of its research and educational offering are limited compared to the best brokers. MetaTrader users at IC Markets will gain access to the Advanced Trading Tools package, which is a suite of platform add-ons developed by FX Blue. IC Markets also provides installable third-party plugins from Trading Central and Autochartist. Some of the attributes that make IC Markets a popular choice for MetaTrader also make it a great broker for other third-party trading platforms, like cTrader and TradingView. IC Markets is my top choice for forex traders who are looking for the best MetaTrader 5 experience on the market.
If Forex trading is conducted as a business, 100% of the profits are taxable as business income. The tax rate varies depending on the trader’s total income and province of residence. For example, the federal basic tax rate starts at 15% on the first $55,233 of taxable income, with higher tax rates applying progressively as income increases.