10 Best Forex Brokers For Canadian Traders
Are you a Canadian Forex Trader and looking for the best Forex Brokers? Are you new to the Canadian Forex market? Are you getting confused with the number of Forex brokers operating in Canada? Check out the list of the top 10 brokers for traders from Canada. These Forex Brokers are my favorites and have proven to be great for Canadian Traders over the past year.
The tumultuous nature of the global foreign exchange market has led to exponential growth and interest in Forex trading. If you’re a Canadian investor and are wondering where to start, keep reading. This guide is designed to recommend some of Canada’s best online Forex brokers.
Due to the popularity of forex trading, more and more brokers are popping up all over the web. With so many choices and varying services, selecting the right broker may not be an easy job. However, we’re here to help with this list of the best forex brokers canada for Canadian traders. These brokers have been thoroughly researched and vetted to ensure they are the highest quality, most trustworthy brokers available.
Top 10 Forex Brokers For Canadian Brokers
- Interactive Brokers
- Oanda
- AvaTrade
- Questrade
- TraderviewForex
- IG Markest
- Forex.com
- CMC Markets
- FXTM
- FXCM
The above forex brokers are the best for Canadians who want to start trading in forex markets. This list was created by the Traders Union’s expert by doing research on these brokers.
Why Forex Trading Is Becoming Popular In Canada
Forex trading is becoming extremely popular in Canada. In fact, the country has over 100 registered forex brokers, which is more than almost every other country in the world. Canadians are also enjoying a lot of investor protection due to the tight regulation carried out by IIROC (Investment Industry Regulatory Organization of Canada). This organization is responsible for regulating all types of financial services, including forex brokers and dealers, as well as stock exchanges located within the country.
The main reason why forex trading is becoming popular in Canada is that there is no legal framework for the regulation of online forex brokers, so at this moment citizens have free access to the whole global market of currencies.
In other words, Canadian laws do not restrict traders in Canada from working with any broker on the planet. The absence of a legal framework also means Canadians do not have a local regulator to turn to if they face any problems with their broker.
What Is The Best Forex Bonus In Canada?
There are so many forex bonuses out there it’s hard to pick just one! While we can’t pick one best bonus, as it would depend on which broker you prefer, we can make a few suggestions on bonus offers that offer great value.
If you’re looking for the best forex bonus for Canadians we recommend either the $50 bonus from FXTM or the $10 bonus from FBS. FXTM offers many different account types including an Islamic account and FBS allows deposits as low as $1 which makes it the perfect broker for beginners.
3 Best Forex Brokers For Canadian Investors
- Interactive Brokers
- IG Markets
- Forex.com
Top 5 Brokers For Beginners In Canda
- AvaTrade
- TradeviewForex
- Interactive Brokers
- FXTM
- Oanda
AvaTrade
Account Type: Retail Account with only 100 US Deposit.
TradeviewForex
Account Type:Â X Leverage with 100 US deposit is needed.
Interactive Brokers
Account Type: IBKR Lite account No need to deposit any money.
FXTM
Account Type: Standard Trading Account only 10 US needed to start with this broker.
Oanda
Account Type: Standard 0 US Dollars
Conclusion
Choosing the best forex broker for your trading needs can be a difficult decision. Factors like regulation, cost, and security must all be taken into account. I hope these lists of the best forex brokers for Canadian traders have been helpful. Since only a limited number of brokers are available in Canada, it’s hard to make comparisons between them but the above ten should help. Hopefully, these suggestions will help you find a reliable forex broker for your needs.
