Best Forex Brokers in Canada for 2026
Top CIRO-regulated (formerly IIROC) forex brokers offering competitive spreads and trusted trading conditions for Canadian traders.
Written by
Lisa Martinez
Fact Checked by
James Wilson
Top 10 Forex Brokers for Canadian Traders in 2026
The Canadian forex landscape is now overseen by the Canadian Investment Regulatory Organization (CIRO), formed from the merger of IIROC and the MFDA. This unified regulator ensures strict oversight and investor protection. Our 2026 rankings prioritize brokers fully compliant with CIRO standards, offering CIPF protection and CAD accounts. OANDA and Interactive Brokers lead the market with superior execution and regulatory standing.
Is forex trading regulated in Canada?
Yes, forex trading is regulated by the Canadian Investment Regulatory Organization (CIRO), formerly IIROC. CIRO ensures brokers meet strict capital requirements and maintain client fund segregation.
Key Features for Canadian Traders
Compare essential features of IIROC-regulated forex brokers available to Canadian residents.
| Broker | ||
|---|---|---|
| OANDA | None | $0 |
| Interactive Brokers | $2/lot | $0 |
| CMC Markets | None | $0 |
| Forex.com | None | $100 |
| Questrade | None | C$1000 |
| TD Direct Investing | None | $0 |
| IC Markets | $3.50/lot | $200 |
| Pepperstone | $3.50/lot | $0 |
| Wealthsimple | None | $0 |
| CIBC Investors Edge | None | $0 |
Detailed Broker Analysis
Best overall CIRO-regulated broker.
OANDA is fully CIRO-regulated with a Canadian head office in Toronto. They offer competitive spreads and the choice between spread-only or commission-based pricing. Popular among Canadian traders for their transparent pricing and local support.
Lowest costs for active traders.
Interactive Brokers Canada offers the tightest spreads and multi-asset access. Ideal for professional traders with access to global markets, advanced trading tools, and institutional-grade execution.
IIROC with vast instrument choice.
CMC Markets Canada offers their proprietary Next Generation platform with full CIRO regulation. Over 330 forex pairs and advanced charting tools make them a top choice for serious traders.
Regulated with platform choice.
Forex.com combines CIRO regulation with flexible account options. Choose between spread-only pricing or commissions, with access to TradingView platform and MT4/MT5 for strategy development.
Full-service brokerage with forex.
Questrade is a full-service brokerage offering forex alongside stocks and ETFs. While spreads are wider, the ability to hold multiple asset classes in one account appeals to diversified investors.
Major bank with trading access.
TD Direct Investing provides forex trading through a major Canadian bank. Ideal for existing TD customers who want integrated banking and investment services, though spreads tend to be higher.
Raw spreads for global access.
IC Markets offers True ECN pricing with raw spreads from 0.0 pips. While not CIRO-regulated, they serve Canadian traders internationally with ultra-tight spreads and fast execution.
Fast execution with low costs.
Pepperstone provides institutional-grade execution with spreads from 0.0 pips. Non-IIROC but offers excellent trading conditions for Canadian traders seeking low costs and fast execution.
Modern robo-advisor with forex.
Wealthsimple focuses on passive investing but offers basic forex trading. Best suited for investors who want to combine long-term investments with occasional forex exposure.
Big bank with basic forex.
CIBC Investors Edge offers basic forex trading through Canada's fifth-largest bank. Suitable for existing CIBC clients who want simple forex access integrated with their banking services.
Frequently Asked Questions
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January 2026