CFD Brokers In Canada

CFD brokers in Canada are a popular option with local traders. Investors can access thousands of financial instruments through CFD platforms within one of the safest regulatory environments in the world. This page will list the best CFD brokers in Canada, as well as explaining what to look for in Canadian CFD platforms, including fees, regulatory status, market access and more.

CFD Brokers In Canada

Leading forex and CFD broker regulated in Ireland, Australia, Canada and South Africa. Avatrade are particularly strong in integration, including MT4
Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
Eightcap is a multi-regulated FX & CFD broker offering the MT4 & MT5 platforms. Award winning platform, zero commission, free education and low spreads.
FXCC is a highly regulated and trustworthy MT4 trading broker.
Fusion Markets are delivering low cost forex and CFD trading via low spreads and trading costs. Their message is - Stop paying too much to trade
BDSwiss offer 250+ Shares, Indices, Forex, Commodities and Cryptocurrencies markets via CFDs. With spreads from 1 pip and an award winning app, they offer a great package.
Axi is a global online FX and CFD trading company, trusted by 60,000+ ambitious customers in 100+ countries around the world.
72.6% of retail investor accounts lose money when trading CFDs with this provider
LegacyFX is a multi-asset broker offering an MT5 download & free signals.
Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
Global brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features.
CMC Markets is headquartered in London and listed on the LSE (FCA Regulated). They offer competitive spreads on a global range of assets via a next generation platform.
FXChoice is an offshore retail broker offering MT4 and MT5 platform downloads.
Pocket Option is a global binary options broker with sleek proprietary trading platform and competitive range of assets.
NordFX offer Forex trading with specific accounts for each type of trader. Zero accounts offer spread from 0 pips, while the Crypto offers optimal cryptocurrency trading. Open account from just $10.
Bit Mex Offer the largest market liquidity of any Crypto exchange. Ultra low trading costs and minimum deposit requirements. Join in 30 seconds.
EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
Coinbase is the easiest place to buy, sell, and manage your cryptocurrency portfolio.
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Quotex offers a proprietary web platform that offers digital options and copy trading.
A regulated bank, Saxobank offer Equities and Forex trading on 40,000+ markets via the SaxoTrader Pro and SaxoTrader Go platforms
Binary.com are the established pioneers of binary options. The choice of the advanced trader, Binary.com offer the greatest flexibility of any binary broker. They also offer Forex and CFD via the MT5 platform.
Spectre.ai is a blockchain-based binary options broker
FP Markets is a multi-asset broker offering a choice of trading platforms.
LiteForex Investments Limited is a regulated Forex & CFD broker offering the MT4 & MT5 trading platforms.
FXOpen is a highly regulated FX & CFD broker offering multiple trading platforms.
Hantec Markets is a multi-regulated online FX broker offering MT4 and a tailored service providing huge flexibility to suit any trader.
Infinox is a UK-based broker offering MT4 trading with tight spreads.
Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.
Fortrade is a multi-asset broker offering a simple live account with advanced tools.
StormGain provides an online crypto trading platform & cloud mining tool.
AdroFX is a regulated, global broker offering forex, CFD and crypto trading with MT4 access and attractive welcome bonuses.
OKEx is a digital exchange offering trading on hundreds of cryptos across desktop and mobile applications with low fees.
Core Spreads offers CFD trading and spread betting across several asset classes on two top-tier platforms.
Bitfinex is among the best crypto exchanges for experienced traders with a free mobile trading app and low fees.
Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up.
Kraken is a top crypto trading exchange offering the largest altcoins by market cap.
Gemini is a leading crypto trading exchange with low fees and a long list of altcoins.
LMFX offers online forex and stock trading with low fees and high leverage.
TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips. With a focus on innovation and transparency, they are a growing brand.
Global Prime is a multi-regulated trading broker offering 100+ markets.
Binance is one of the leading online crypto exchanges offering Bitcoin.
Trade on the financial markets with low cost, leveraged products at HYCM.
OctaFX offers multi-asset trading on a range of platforms and mobile solutions.
BlackBull Markets offers forex and CFD trading on the MT4 & MT5 platforms.
LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
Pacific Union is a multi-asset broker offering trading via the MT4 and MT5 platforms.
Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
Coinmama aim to make entering the crypto market as easy as possible, offering BTC,ETH,LTC,ADA,BCH and XTZ
IB Boast a huge market share of global trading. With a minimum deposit of $10,000 however, they remain an option for larger traders only.
AGEA is a regulated forex & CFD broker offering multiple trading platforms and account types.
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What Is A CFD?

A Contract For Difference (CFD) is a type of derivative investment that allows traders to benefit from market fluctuations without owning the underlying asset. They are an agreement between an investor and a CFD broker to pay the difference between the initial and closing price of a position.

CFDs have been available to Canadian retail investors since October 2009, though there has been a recent rise in the number of CFD brokers operating in the country. This popularity has been driven by the straightforward, low-cost access to markets provided by CFD brokers in Canada. Traders are given exposure to the full value of an asset without having to put up the whole amount or own the underlying asset.

How CFD Brokers In Canada Work

Most Canadian CFD brokers offer a free, user-friendly platform that provides clients with a long list of assets, plus the ability to carry out market analysis and execute orders. Some of the most useful functions, which are generally offered by the best CFD brokers in Canada and the top offshore platforms, are a range of order types and a good selection of charts, indicators and automated trading tools.

The leading CFD brokers in Canada offer access to thousands of financial instruments. These might include forex pairs with the CAD, cryptocurrencies like Bitcoin, stock indices, commodities, individual shares and treasury bonds.CFD Brokers in Canada Chart Tools

How To Compare CFD Brokers In Canada

Finding the best Canadian CFD broker is a subjective journey, as everyone has different requirements and goals. Some important things to look for when choosing a CFD platform based in Canada or offshore include:

Fees

Most CFD brokers in Canada make money through spreads, so for you to break even, your chosen security will need to rise by at least the spread amount. It then follows that lower spreads will provide you with more earning potential. CFD brokers in Canada can offer spreads as low as 0.2 pips on major currency pairs like EUR/USD.

There may also be other charges, such as trading fees, minimum deposits, withdrawal fees or commissions. Users should aim to consider all costs from initial deposit through to withdrawal when comparing the fee structures of different brokers.

Leverage

CFD brokers in Canada are popular because traders can access high exposure levels through leveraged trading. The Investment Industry Regulatory Organization of Canada (IIROC) has defined margin limits which are outlined in its Rule 100 document. Although Canadian leverage rates may not be as high as those in countries like the UK and Australia, their CFD brokerages are among the safest in the world, in no small part thanks to these limitations. A sample list of current IIROC CFD margin rates is available on OANDA Canada’s website.

Market Access

CFD brokers in Canada offer a wide range of CFD instruments. Be sure to opt for a broker that gives access to the markets you are interested in. The best CFD brokers in Canada will allow CFD trading on forex pairs such as EUR/USD and GBP/USD, cryptocurrencies, stock indices, commodities, shares, treasury bonds and more.

Canadian Regulation

The top CFD brokers in Canada operate under strict local regulation by the Investment Industry Regulatory Organization of Canada (IIROC). Opening an account with an IIROC regulated broker automatically provides membership to the Canadian Investor Protection Fund (CIPF), which offers traders impressive levels of protection. This includes cover against broker insolvency with reimbursements up to 1 million CAD.

IIROC Canadian CFD Broker Regulatory Agency

If you open an account with a broker based elsewhere, check that they’re licensed by a reputable international agency, such as the Cyprus Securities and Exchange Commission (CySEC). This will help you avoid any online scams.

Bonuses

It is common for CFD brokers to offer referral scheme rewards, through which users can typically earn around $250 by referring customers who open CFD accounts. The tight regulation in Canada does limit promotions and bonuses that CFD brokers can offer, so be wary of those with deals that seem too good to be true. If in doubt, the IIROC website has clear information regarding what can be offered.

Accounts

The best CFD brokers in Canada offer a variety of account types that cater to traders of differing needs. When choosing a platform, be sure to make a thorough comparison to pick the account type best suited to your requirements. Common characteristics that vary are minimum deposits and lot sizes, spreads and available instruments.

Platforms

MetaTrader 4 (MT4), MetaTrader 5 (MT5), and NinjaTrader are the most popular platforms offered by Canadian CFD brokers. Mobile apps and web trader options are also widely available. Different platforms may also be better suited to your needs, depending on your trading style and frequency. Compare features like technical analysis tools and automated trading options when deciding which is the best broker for you.

Mobile Apps

CFD positions are often held over short timeframes, sometimes only a few hours. A mobile app will allow you to take advantage of short-term market fluctuations as you will always have your platform to hand.

The best CFD brokers in Canada have developed their own applications that replicate the functionality of traditional desktop platforms, and most will offer MT4 and MT5 mobile apps that can be downloaded alongside proprietary software.

Tools

Traders should keep an eye out for Canadian CFD brokers that offer a range of advanced tools, such as customizable indicators and algorithmic trading features. These tools will help you improve your investing techniques and understanding of the markets. The top platforms also offer extensive tutorials and educational materials, which are a great way for beginners to improve their strategies.

Top CFD brokers in Canada

Customer Support

Should you run into any problems or have an important question, you’ll want to be with a Canadian CFD broker that has active customer support. The best CFD brokers in Canada offer 24/5 live chat as well as email, telephone and fax contact options. User reviews on sites like Trustpilot are a great way to gauge the reputation of a broker’s customer service.

Deposits & Withdrawals

The top CFD brokers in Canada allow users to make payments and deposits through a variety of means. These will typically include credit/debit cards, bank transfers, PayPal and e-wallets like Skrill or Neteller.

Find a platform that allows straightforward withdrawal options, ideally with low fees. The ease with which you can deposit and withdraw will improve your overall experience and lower transfer charges will maximize your profit margins.

Taxes

If you are using a CFD broker in Canada, you may be subject to Canadian tax rules. Depending on how you complete your tax return and other factors, your profits will either come under capital gain tax or business income tax. If you are reporting your profits as business income tax, you will be able to deduct any losses.

Consult a local tax advisor to get tailored information about reporting your profits.

Final Word On CFD Brokers In Canada

As well as offering access to a wide variety of markets and securities, CFD brokers in Canada are highly regulated, which means they are among the safest in the world. The strict regulation affords users impressive protection of up to 1 million CAD. However, you may still be opening yourself up to risks if you intend to use high leverage rates for your strategies. Each provider will offer different fees, market access, platforms and more, so make a thorough comparison of our list of the best CFD brokers in Canada to find the platform that’s right for you.

FAQs

What Is The Best CFD Broker In Canada?

When choosing the top CFD broker in Canada it is important to consider factors such as fees, market access, customer support and available platforms. We have compiled a list of the best CFD brokers in Canada here.

Yes, CFD brokers are legal in Canada but they must be registered with the Investment Industry Regulatory Organization of Canada (IIROC). IIROC has a list of the registered brokers on its website. Alternatively, you can open a CFD account with an offshore platform.

What Are The Advantages Of Having A CFD Broker In Canada?

The regulatory environment in Canada is relatively secure. Clients of CFD brokers in Canada are protected up to 1 million CAD under the Investment Industry Regulatory Organization of Canada (IIROC). However, strict leverage limitations are in place that may cause difficulties for margin trading strategies.

Do I Pay Tax If I Have A CFD Broker In Canada?

If you make a profit with a CFD broker in Canada, you may have to pay capital gains or business income tax. This must be paid before the end of the tax year on December 31st. You should speak to a local tax advisor for more information.

What Assets Can You Trade With A CFD Broker In Canada?

CFD brokers in Canada offer traders a wide variety of assets to speculate on. These will typically include forex pairs such as EUR/USD and GBP/USD, cryptocurrencies like Bitcoin, stock indices, commodities, shares and bonds.