Brokers With CAD Accounts

Written By

James Barra

Edited By

Jemma Grist

Fact Checked By

William Berg

Updated

Jun 13, 2024

There is an increasing number of brokers with CAD accounts. These online trading accounts offer the Canadian Dollar as the base currency, cutting conversion fees and offering hassle-free access to the financial markets, especially for investors from Canada. Here, we explain how to check whether a platform offers a CAD account. We also list the best brokers with CAD accounts.

Brokers With CAD Accounts

These are the 10 best brokers that offer accounts with CAD as the base currency:

Click a broker for details

1

FOREX.com

Go To FOREX.com
FOREX.com Review

New Customer Bonus Offer Active Trader Program With A 15% Reduction In Costs

Ratings

Regulation & Trust 4.9 / 5

Accounts & Banking 4 / 5

Assets & Markets 4.3 / 5

Fees & Costs 4.6 / 5

Platforms & Tools 4.6 / 5

Customer Support 4.3 / 5

Research 4.8 / 5

Education 4.5 / 5

iOS App 3.6 / 5

Android App 3.8 / 5

Minimum Deposit $100

Minimum Trade 0.01 Lots

Leverage 1:50

Regulator NFA, CFTC

Instruments Forex, Stocks, Futures, Futures Options

Platforms MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral

Payment Methods Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Go To FOREX.com
2

OANDA US

Go To OANDA US
OANDA US Review

CFDs are not available to residents in the United States.

Ratings

Regulation & Trust 4.5 / 5

Accounts & Banking 3.5 / 5

Assets & Markets 2.8 / 5

Fees & Costs 4 / 5

Platforms & Tools 4.5 / 5

Customer Support 3.5 / 5

Research 4.3 / 5

Education 3.8 / 5

iOS App 4.7 / 5

Android App 3.7 / 5

Minimum Deposit $0

Minimum Trade 0.01 Lots

Leverage 1:50

Regulator NFA, CFTC

Instruments Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)

Platforms OANDA Trade, MT4, TradingView, AutoChartist

Payment Methods Wire Transfer, Visa, Mastercard, Debit Card, ACH Transfer

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Go To OANDA US
3

DNA Markets

Go To DNA Markets
DNA Markets Review

Ratings

Regulation & Trust 3 / 5

Accounts & Banking 4 / 5

Assets & Markets 4 / 5

Fees & Costs 3.9 / 5

Platforms & Tools 3.5 / 5

Customer Support 3.6 / 5

Research 1.8 / 5

Education 1.6 / 5

iOS App 4.8 / 5

Android App 4.4 / 5

Minimum Deposit $100

Minimum Trade 0.01 Lots

Leverage 1:500

Regulator ASIC

Instruments CFDs, Forex, Indices, Commodities, Stocks, Crypto

Platforms MT4, MT5

Payment Methods Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, Mastercard

Account Currencies USD, EUR, GBP, CAD, AUD, NZD, SGD

Go To DNA Markets
4

IG

Go To IG
IG Review

Forex trading involves risk. Losses can exceed deposits.

Ratings

Regulation & Trust 4.9 / 5

Accounts & Banking 4 / 5

Assets & Markets 4.5 / 5

Fees & Costs 3.5 / 5

Platforms & Tools 4.8 / 5

Customer Support 4.5 / 5

Research 4.9 / 5

Education 5 / 5

iOS App 4.6 / 5

Android App 4 / 5

Minimum Deposit $0

Minimum Trade 0.01 Lots

Leverage 1:30 (Retail), 1:250 (Pro)

Regulator FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB

Instruments CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting

Platforms Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral

Payment Methods PayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit Card

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Go To IG
5

Interactive Brokers

Go To Interactive Brokers
Interactive Brokers Review

Ratings

Regulation & Trust 4.5 / 5

Accounts & Banking 3.5 / 5

Assets & Markets 4.5 / 5

Fees & Costs 4.3 / 5

Platforms & Tools 3.3 / 5

Customer Support 3 / 5

Research 4.4 / 5

Education 4.3 / 5

iOS App 4.3 / 5

Android App 4.5 / 5

Minimum Deposit $0

Minimum Trade $100

Leverage 1:50

Regulator FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA

Instruments Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies

Platforms Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral

Payment Methods Cheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit Card

Account Currencies USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Go To Interactive Brokers
6

Sage FX

Go To Sage FX
Sage FX Review

New Customer Bonus Offer $1,500 trading competition

Minimum Deposit $10

Minimum Trade 0.01 Lots

Leverage 1:500

Regulator Pending

Instruments Forex, indices, cryptos

Platforms TradeLocker

Payment Methods Credit Card, Visa, Mastercard, Bitcoin Payments, Ethereum Payments

Account Currencies USD, EUR, GBP, CAD, AUD

Go To Sage FX
7

Revolut

Go To Revolut
Revolut Review

Revolut is a financial technology company. Banking services provided by Metropolitan Commercial Bank, Member FDIC. Securities products and services provided by Revolut Securities Inc, member FINRA/SIPC. Securities products are not insured by the FDIC or any federal government agency, are not bank deposits, are not obligations of or guaranteed by Metropolitan Commercial Bank and are subject to investment risks, including possible loss of the principal amount invested.

Minimum Deposit $0

Minimum Trade $1

Leverage

Regulator FINRA, SEC

Instruments Stocks, Cryptos

Platforms Own

Payment Methods Wire Transfer, Debit Card, Credit Card, Apple Pay, Google Wallet, Visa, Mastercard

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, NOK, DKK, CHF, HKD, PLN, CZK, HUF

Go To Revolut
8

Kraken

Go To Kraken
Kraken Review

New Customer Bonus Offer Lower fees when trading volume exceeds $50,000 in 30 days

Minimum Deposit $10

Minimum Trade Variable

Leverage

Regulator FCA, FinCEN, FINTRAC, AUSTRAC, FSA

Instruments Cryptos

Platforms AlgoTrader

Payment Methods Bitcoin Payments, Wire Transfer, PayID, Silvergate Bank Transfer, Etana, Ethereum Payments

Account Currencies USD, EUR, GBP, CAD, AUD, JPY, CHF

Go To Kraken
9

Gemini

Go To Gemini
Gemini Review

Ratings

Regulation & Trust 2 / 5

Accounts & Banking 3 / 5

Assets & Markets 2 / 5

Fees & Costs 2.5 / 5

Platforms & Tools 3 / 5

Customer Support 2 / 5

Research 2.5 / 5

Education 3 / 5

iOS App 0 / 5

Android App 0 / 5

Minimum Deposit $0

Minimum Trade 0.00001 BTC

Leverage

Regulator NYDFS, MAS, FCA

Instruments Cryptos

Platforms ActiveTrader, AlgoTrader, TradingView

Payment Methods Bitcoin Payments, Credit Card, Wire Transfer, Visa, Mastercard, Silvergate Bank Transfer, Ethereum Payments, ACH Transfer, PayPal, Etana

Account Currencies USD, EUR, GBP, CAD, AUD, HKD, SGD

Go To Gemini
10

Zacks Trade

Go To Zacks Trade
Zacks Trade Review

Minimum Deposit $2500

Minimum Trade $3

Leverage

Regulator FINRA

Instruments Stocks, ETFs, Cryptos, Options, Bonds

Platforms Own

Payment Methods Wire Transfer, ACH Transfer, Cheque

Account Currencies USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Go To Zacks Trade

Here is a short overview of each broker's pros and cons

FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
OANDA US - OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.
DNA Markets - DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 800+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
Sage FX - SageFX is an offshore, unregulated CFD broker that offers highly leveraged trading on forex, stocks, commodities, indices and crypto via the TradeLocker platform. Traders can access commission-free trading or an ECN account with tight spreads. While the broker's regulatory status is weak, it does provide segregated accounts and two-factor authentication.
Revolut - Revolut is a popular financial app that also offers trading on stocks, metals and digital currencies. The brand has over 25 million users worldwide with a choice of accounts, tools and services to suit different needs and budgets, including online investing and currency exchange.
Kraken - Kraken is a leading cryptocurrency exchange with a proprietary trading terminal and a list of 220+ tradeable crypto tokens. Up to 1:5 leverage is available with stable rollover fees on spot crypto trading and up to 1:50 on futures. The exchange also supports crypto staking and has an interactive NFT marketplace.
Gemini - Gemini is a cryptocurrency exchange set up in 2014 by the Winklevoss brothers, known for their early involvement in Facebook. The exchange is among the world’s 20 largest and most popular. Gemini clients can trade and stake 110+ cryptocurrencies, with derivatives trading available in some jurisdictions, an advanced proprietary platform and additional features including an NFT marketplace.
Zacks Trade - Zacks Trade is a FINRA-regulated US broker offering trading on stocks, ETFs, cryptocurrencies, bonds and more through a proprietary terminal. The broker is geared toward active traders and offers very affordable fees on most assets as well as an app and a vast amount of market data.

Brokers With CAD Accounts Comparison

Brokers With CAD Accounts Comparison
Minimum Deposit	Instruments	Platforms
$100	Forex, Stocks, Futures, Futures Options	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
$0	Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)	OANDA Trade, MT4, TradingView, AutoChartist
$100	CFDs, Forex, Indices, Commodities, Stocks, Crypto	MT4, MT5
$0	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting	Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
$0	Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies	Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
$10	Forex, indices, cryptos	TradeLocker
$0	Stocks, Cryptos	Own
$10	Cryptos	AlgoTrader
$0	Cryptos	ActiveTrader, AlgoTrader, TradingView
$2500	Stocks, ETFs, Cryptos, Options, Bonds	Own

FOREX.com

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus Offer	Active Trader Program With A 15% Reduction In Costs
Demo Account	Yes
Instruments	Forex, Stocks, Futures, Futures Options
Regulator	NFA, CFTC
Platforms	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Minimum Deposit	$100
Minimum Trade	0.01 Lots
Leverage	1:50
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.

Cons

Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.

Visit FOREX.com

FOREX.com Review

OANDA US

"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
Jemma Grist, Reviewer

OANDA US Quick Facts

Demo Account	Yes
Instruments	Forex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)
Regulator	NFA, CFTC
Platforms	OANDA Trade, MT4, TradingView, AutoChartist
Minimum Deposit	$0
Minimum Trade	0.01 Lots
Leverage	1:50
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD

Pros

Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
The broker offers a transparent pricing structure with no hidden charges
There's a strong selection of 68 currency pairs for dedicated short-term forex traders

Cons

There's only a small range of payment methods available, with no e-wallets supported
It's a shame that customer support is not available on weekends
The range of day trading markets is limited to forex and cryptos only

Visit OANDA US

OANDA US Review

DNA Markets

"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "
Jemma Grist, Reviewer

DNA Markets Quick Facts

Demo Account	Yes
Instruments	CFDs, Forex, Indices, Commodities, Stocks, Crypto
Regulator	ASIC
Platforms	MT4, MT5
Minimum Deposit	$100
Minimum Trade	0.01 Lots
Leverage	1:500
Account Currencies	USD, EUR, GBP, CAD, AUD, NZD, SGD

Pros

You can access low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees
Short-term trading strategies are permitted including scalping and automated trading using Expert Advisors (EAs)
Convenient account funding is available with 7 base currencies, a $100 deposit and a wide range of payment methods

Cons

Although it continues to strengthen its client base and reputation, DNA Markets lacks the track record of top brokers like Vantage
Unlike many alternatives, there are limited educational and research tools for traders seeking an all-in-one solution
Despite access to MT4 and MT5, there is no proprietary trading app for seamless account management whilst on the go

Visit DNA Markets

DNA Markets Review

IG

"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
Christian Harris, Reviewer

IG Quick Facts

Demo Account	Yes
Instruments	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
Regulator	FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB
Platforms	Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
Minimum Deposit	$0
Minimum Trade	0.01 Lots
Leverage	1:30 (Retail), 1:250 (Pro)
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Pros

The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading

Cons

Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests
IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges

Visit IG

IG Review

Interactive Brokers

"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer

Interactive Brokers Quick Facts

Demo Account	Yes
Instruments	Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
Regulator	FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
Platforms	Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral
Minimum Deposit	$0
Minimum Trade	$100
Leverage	1:50
Account Currencies	USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

Pros

There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.

Cons

You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.

Visit Interactive Brokers

Interactive Brokers Review

Sage FX

"Sage FX will suit forex traders looking for high leverage and ECN spreads. The broker's prop trading service will also appeal to users looking for funded accounts with up to $200K available."
Tobias Robinson, Reviewer

Sage FX Quick Facts

Bonus Offer	$1,500 trading competition
Demo Account	Yes
Instruments	Forex, indices, cryptos
Regulator	Pending
Platforms	TradeLocker
Minimum Deposit	$10
Minimum Trade	0.01 Lots
Leverage	1:500
Account Currencies	USD, EUR, GBP, CAD, AUD

Pros

High leverage up to 1:500
Low starting deposit from $10
Prop trading accounts with multiple funding tiers

Cons

Relatively narrow range of asset classes
Lacks educational resources and other extra features
Not regulated by any reputable body

Visit Sage FX

Sage FX Review

Revolut

"Revolut is suitable for casual stock traders looking for an easy-to-use app with transparent fees and a low minimum investment."
William Berg, Reviewer

Revolut Quick Facts

Demo Account	No
Instruments	Stocks, Cryptos
Regulator	FINRA, SEC
Platforms	Own
Minimum Deposit	$0
Minimum Trade	$1
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, NOK, DKK, CHF, HKD, PLN, CZK, HUF

Pros

No commissions or custody fees on stocks
Straightforward joining process
Good range of account types with different perks and fees

Cons

Relatively narrow product range
No margin trading
No advanced trading platform

Visit Revolut

Revolut Review

Kraken

"Kraken will suit traders looking for a diverse list of cryptos including Bitcoin and a good security track record."
William Berg, Reviewer

Kraken Quick Facts

Bonus Offer	Lower fees when trading volume exceeds $50,000 in 30 days
Demo Account	Yes
Instruments	Cryptos
Regulator	FCA, FinCEN, FINTRAC, AUSTRAC, FSA
Platforms	AlgoTrader
Minimum Deposit	$10
Minimum Trade	Variable
Account Currencies	USD, EUR, GBP, CAD, AUD, JPY, CHF

Pros

NFT marketplace and crypto staking available
Very good security track record with no hacks in a decade since launch
3D secure required

Cons

Slow verification times
Does not support many newer altcoins
Low leverage on spot trading

Visit Kraken

Kraken Review

Gemini

"Gemini’s ActiveTrader platform and TradingView integration make it a good choice for serious crypto traders seeking a reliable charting environment, though we were disappointed by some unnecessary fees and previous security breaches."
Michael MacKenzie, Reviewer

Gemini Quick Facts

Demo Account	No
Instruments	Cryptos
Regulator	NYDFS, MAS, FCA
Platforms	ActiveTrader, AlgoTrader, TradingView
Minimum Deposit	$0
Minimum Trade	0.00001 BTC
Account Currencies	USD, EUR, GBP, CAD, AUD, HKD, SGD

Pros

Crypto perpetual futures are available in many jurisdictions with up to 1:100 leverage
The exchange ensures high security standards with 2FA a requirement for all crypto investors
There is a decent range of educational guides and tutorials suitable for beginners

Cons

The exchange has a history of concerning incidents including the collapse of its Earn program and a phishing breach
There is no practice profile or demo account for prospective traders
There are high fees for some funding methods including a 3.49% fee for card transactions

Visit Gemini

Gemini Review

Zacks Trade

"Zacks Trade will suit active day traders with experience using powerful platforms. Fees and margin rates are low while the market research is excellent."
Tobias Robinson, Reviewer

Zacks Trade Quick Facts

Demo Account	Yes
Instruments	Stocks, ETFs, Cryptos, Options, Bonds
Regulator	FINRA
Platforms	Own
Minimum Deposit	$2500
Minimum Trade	$3
Account Currencies	USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, RUB, PLN, CZK, HUF

Pros

20+ account denominations
Comprehensive research and data
Regulated by FINRA with access to the Securities Investor Protection Corporation

Cons

No MT4 or MT5 platform integration
Withdrawal fees apply if removing funds more than once per month
No forex, commodities or futures trading

Visit Zacks Trade

Zacks Trade Review

What Is A CAD Account?

A CAD account is simply a trading account where the balance is held in the Canadian Dollar. So any deposits, withdrawals or trading activity will be processed in CAD. If you deposit funds in Euros, capital will be converted into the Canadian Dollar at the current rate.

Brokers with CAD accounts are popular with investors from Canada, offering straightforward market access, local payment solutions and zero currency conversion fees. Some platforms also offer CAD sub accounts. This means you can trade in USD, for example, while making deposits and withdrawals in CAD, offering additional flexibility.

The Canadian Dollar is the sixth-most held currency reserve and is part of the eight currencies that account for over 80% of the forex market.

Pros Of Brokers With CAD Accounts

For investors in Canada, being able to fund your trading account and withdraw profits in the same currency you use on a day-to-day basis is an obvious advantage. Brokers offering CAD accounts will also probably have deposit and withdrawal options that are fee-free and reliable.

Brokers with CAD accounts are normally regulated by reputable agencies like the CIRO and by removing currency conversion fees, investors benefit from improved profit margins. And in an environment where margins are slim, this can be a serious advantage, especially for active traders.

How To Check A Broker Offers A CAD Account

Many of the big players in the retail trading space offer accounts with the Canadian Dollar as the base currency. However, they’re not as popular as USD, EUR or GBP accounts, so you’ll need to check on the company website before you sign up. There is usually a section at the registration stage where you can view the base currencies offered. Alternatively, you can reach out to the broker’s customer support team or head to their FAQ section.

How To Compare Brokers With CAD Accounts

Whilst finding a platform that accepts your local currency is important, it’s also worth taking into account other considerations. Firstly, do they offer access to the assets you’re interested in, such as the USD/CAD, gold, Canadian stocks, or cryptocurrencies like Bitcoin? Also, do they offer a user-friendly mobile application, competitive spreads and any additional educational tools?

Leverage is another important factor. Margin trading can seriously bolster profits, but it also has the potential to magnify losses. Most regulated brokers cap leverage rates at 1:30. It’s worth checking that platforms offering levels beyond this are regulated by a trusted agency.

Our final top tip is to consider reviews. With so many online brokers out there today, it’s worth seeing what other traders and trusted websites have to say to help narrow your search.

Final Word On Brokers With CAD Accounts

Whilst signing up with a broker that offers CAD accounts may limit your options, for Canadian traders, it can cut trading times and complications. With fewer currency conversion fees or payment charges to factor in, there is less pressure on profits. Also, many of the best brokers with CAD accounts offer competitive trading conditions, broad market access, and low fees. See our list of top CAD platforms to get started.

FAQ

What Is A CAD Account?

A CAD account is an online trading account with the Canadian Dollar as the base currency. Any deposits, withdrawals or trading activity will be processed in CAD. This also extends to fees such as commissions and account management charges.

Can I Open A Trading Account In CAD?

Yes, many brokers offer CAD accounts. Once signed up and funded, clients can trade forex, stocks, commodities, cryptos and more. CAD accounts are popular with traders from Canada, in particular, but they may also suit active forex investors who want to manage their accounts in the same currencies that they trade.

How Do You Check A Broker Offers A CAD Account?

Brokers with CAD accounts usually list the Canadian Dollar as an option at the sign-up stage. If it’s not clear, check with the customer support team. Many of the best platforms offer live chat with minimal wait times. The FAQ section may also be able to help.

Who Is The Best Broker With A CAD Account?

There is no universal best online broker as it will depend on individual requirements, for example, what markets you want to trade, what strategies you intend to employ, and how much educational support you require. See our list of the top brokers with CAD accounts to get started.

How Do I Open A CAD Trading Account?

You can open an online trading account with the Canadian Dollar as the base currency in a few simple steps. Firstly, choose a broker that offers CAD accounts. Then sign-up on their website and follow the registration requirements. Once live, fund your account in Canadian Dollars and then take a position on your chosen market.