Best Brokers for Trading in Canada in 2025

A trading broker is a financial intermediary that allows you to place orders on the markets and trade various assets such as CFDs, Forex, cryptocurrencies, or commodities as an individual.

But what is trading and how does it work? How to choose the right broker to practice online trading?

Discover the top-rated brokers for this year, those who stand out for their quality of service, reliability, and ability to adapt to different market trends. On this page, we have compared brokers for you with a user-friendly platform, tight spreads, access to MetaTrader 4 or 5, or those who offer a unique social experience with copy trading.

What is a Trading Broker? Trading Definition

In English, the term "trading" refers to the buying and selling operations that are carried out on the financial markets.

Individuals or professionals who carry out these operations are called "traders."

Trading can be carried out by professional traders who speculate from the trading floor or on behalf of a financial or stock market institution, but also by individual and independent traders who use online trading platforms for this purpose.

Good to know

Trading differs from traditional investment in that it aims for shorter-term gains and uses specific tools such as leverage to increase market exposure.

Trading Broker: Definition and Role

A broker is a financial intermediary that allows investors to buy and sell assets on financial markets. These assets can be diverse: stocks, currencies, commodities, indices, and more. The main role of a broker is to facilitate access to markets for individual and institutional traders, by providing the platform, tools, and services necessary to carry out transactions.

Brokers play an essential role in the trading ecosystem. They provide trading platforms that allow users to view real-time prices, place orders, and analyze markets using technical indicators. Additionally, they serve as a link between investors and stock exchanges, transmitting traders' orders to the markets, often in near real-time.

In addition to these core functions, brokers may offer additional services, such as investment advice, market analysis, or training for beginners. They also play an essential role in ensuring the security of transactions and offering leverage that allows traders to increase the value of their positions, although this can increase the risks.

What are the best trading brokers in Canada in 2025?

Choosing the best broker depends on your trading strategy and the assets that interest you. Whether you are interested in Forex, copy trading, cryptocurrencies, or prefer to use a specific platform like MetaTrader, some brokers stand out for the quality of their services. Here is a selection of the best brokers in Canada in 2025, according to the types of trading practiced.

Best Broker for Forex Trading

The foreign exchange (Forex) market attracts many traders due to its high liquidity and extended hours. To get the most out of Forex trading, several criteria must be considered before choosing a Forex broker:

• Competitive spreads on major currency pairs (such as EUR/USD) help reduce transaction costs, especially for short-term strategies.
• Fast order execution is essential in such a volatile market to limit slippage and ensure precise entry and exit points.
• High leverage, although risky, can be a strategic lever for experienced traders looking to maximize their exposure with limited capital.
• Reliable regulation (Canadian Securities Administrators (CSA)...) guarantees the protection of funds and compliance with industry best practices.
• Recognized platforms such as MetaTrader 4 or 5 (MT4/MT5), or cTrader, offer powerful technical analysis tools and an interface adapted to all trader profiles.

Certain Forex brokers combine these advantages to offer an optimal experience for both beginners and more advanced traders.

Best Broker for Copy Trading

Copy trading is an ideal solution for investors who want to benefit from the experience of professional traders without actively managing their portfolio. It allows you to automatically replicate the strategies of more experienced traders, while maintaining complete control over the amounts invested.

Here are the main criteria to consider when choosing a broker suitable for copy trading:

• Integrated copy trading platforms: Some brokers offer their own social platforms, while others rely on recognized external solutions like ZuluTrade or Myfxbook.
• Fee structure: Fees can vary between simple spreads, commissions on profits made, or copy fees charged on each copied transaction.
• Variety of assets offered: A versatile broker allows you to copy strategies across different markets such as Forex, stocks, cryptocurrencies or indices.
• Regulation: As with any financial service, it is essential to ensure that the broker is properly regulated by a recognized authority (such as the IIROC).

Best Broker for Cryptocurrency Trading

Cryptocurrency trading is increasingly attracting investors, drawn by price volatility and opportunities for quick gains. To choose the right crypto broker, several criteria must be taken into account:

• Number of cryptos available: A diverse offering allows you to diversify your portfolio beyond classic Bitcoin or Ethereum, with high-potential altcoins.
• Competitive trading fees: Brokers generally apply spreads or commissions. Comparing fees is essential to optimize profitability.
• Trading platform: An intuitive, fluid interface with technical analysis tools is a real asset, especially for active traders.
• Regulation and security: Even in the crypto universe, it is preferable to go through a regulated intermediary in Canada, which guarantees the protection of funds and compliance with compliance standards.

Best Trading Broker with MT4 or MT5

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are essential platforms in the world of online trading. Recognized for their stability, compatibility with Expert Advisors (EAs), and advanced technical analysis tools, they are used by both beginners and experienced traders.

To take full advantage of these platforms, it is recommended to choose a broker that:

• Offers unrestricted MT4 and/or MT5, with all functionalities available (customizable indicators, automated trading, advanced order management, etc.);
• Provides competitive spreads, especially on major markets like Forex, indices, or commodities;
• Has leverage adapted to the user's profile (with options up to 1:50 in some cases for retail clients, in accordance with Canadian regulations);
• Is regulated by a recognized authority in Canada, guaranteeing the security of funds and the reliability of the platform.

How to Find the Best Broker for Trading?

Choosing the best broker for trading is important if you want to succeed in your investments. A good broker will allow you to maximize your chances of gains while minimizing risks, thanks to powerful tools, competitive fees, and quality customer support. Here are the main criteria to consider to find the broker that best suits your needs and your investor profile.

• Regulation and Security: The first criterion to verify is the broker's regulation. It must be regulated by a recognized financial authority, such as the Canadian Investment Regulatory Organization (CIRO) in Canada. Strong regulation ensures that the broker adheres to strict standards regarding transparency, fund security, and fair treatment of clients. The security of your funds and personal data should always be the priority.
• Fees and Commissions: Fees represent a significant part of your trading costs. They include commissions per transaction, spreads (the difference between the buying and selling price), and possibly account management fees. Opt for a broker whose fees are clear and competitive, in order to minimize the impact of these costs on your potential gains. Beware of brokers who offer very tight spreads but impose high commissions, and vice versa.
• Trading Platform: The quality of the trading platform is another fundamental element. A good platform should be intuitive, reliable, and offer quick access to market information. It should offer technical analysis tools (indicators, advanced charts), an ergonomic interface, and the ability to use advanced orders such as stop or limit orders. Some brokers offer popular platforms like MetaTrader 4 or 5, while others have developed their own tools.
• Available Assets: Depending on your investment strategy, you will want to choose a broker that offers a wide range of assets: stocks, Forex, indices, commodities, cryptocurrencies... Check if the assets you are interested in are available, and if the broker offers advantageous trading conditions on these assets (leverage, spreads, etc.). The diversity of financial products allows you to vary strategies and spread risks.
• Leverage and Margins: Leverage allows you to amplify your exposure to the market, which can increase your gains but also your losses. Some brokers offer higher leverage than others, which can be attractive to experienced traders but risky for beginners. Check that the broker offers leverage levels that are in line with your risk tolerance, and that it provides clear explanations of the necessary margins. The maximum leverage allowed for retail traders in Canada is 50:1 on major currency pairs.
• Customer Service and Educational Resources: Good customer service is essential, especially in the event of a technical problem or urgent question. Check that the support is easily reachable, ideally in several languages, and that the response times are reasonable. In addition to support, some brokers offer educational resources: tutorials, webinars, articles, to help you develop your trading skills. For beginners, these resources are a valuable asset.
• User Reviews: User reviews and online tests are also a good source of information. They allow you to understand the strengths and weaknesses of each broker based on the experience of real customers. Keep in mind, however, that each experience is subjective: you must cross-reference several sources of opinions to obtain a global and balanced picture.

How to Trade with an Online Broker?

Getting started with online trading involves several key steps: from opening an account to using the trading platform, including managing funds and risks. Here's an overview of the standard process offered by most online brokers.

1. Open a Trading Account

The first step is to open an account with a regulated broker. This process generally includes:

• Online registration: You need to fill out a form with your personal information (name, email address, phone number), then choose your country of residence.
• Identity verification (KYC): To comply with international regulations, it is mandatory to provide a valid identity document and proof of address. This verification ensures account security and prevents fraud.
• Choosing the account type: Brokers offer different types of accounts (standard, commission-free, with reduced spreads, etc.) adapted to various trader profiles.

2. Deposit Funds

Once the account is activated, the next step is to fund it:

• Deposit Methods: Most brokers accept payments via credit card, bank transfer, or e-wallets like Skrill, Neteller, or PayPal.
• Minimum Required Amount: The minimum initial deposit varies by broker, but often ranges from $100 to $250. It is advisable to start with sufficient capital to properly manage risk, especially when using leverage.

3. Using the Trading Platform (e.g., MT4/MT5)

Once funds are deposited, you can access the chosen trading platform. The most common are MetaTrader 4 (MT4) and MetaTrader 5 (MT5):

• Installation and Login: The platforms are available for desktop download or as a web version. Once installed, simply log in with the credentials provided by the broker.
• Interface Discovery: MT4/MT5 offer advanced features: real-time chart display, technical indicators, analysis tools, window customization, fast order execution, and automated management via trading robots (EAs).
• Demo Accounts: It is highly recommended to start with a demo account to familiarize yourself with the interface, test strategies, and understand market mechanisms without risking your capital.

4. Practical Example: Forex Trading on EUR/USD

Let's take the example of a typical transaction on the Forex market, trading the EUR/USD pair:

• Market Analysis: Before opening a position, it is strongly advised to carry out a technical analysis. With MT5, you can use technical indicators (such as moving averages or Bollinger bands) to identify a trend. Suppose you identify a bullish signal indicating that the Canadian dollar could strengthen against the US dollar.
• Placing a Buy Order: On Eightcap's MT5 platform, click on "New Order". Select CAD/USD and choose the trading volume (for example, 0.1 lot). Then click on "Buy" to open a long position.
• Risk Management: To protect your capital, we recommend placing a stop loss. Imagine that you place a stop loss 50 pips below your entry point to limit your potential losses. You can also set a take profit 100 pips above your entry point, to lock in your gains if the market moves in your favour.

5. Monitor and Close the Position

• Surveillance : thanks to MT5, you can monitor your position's evolution in real time. The charts allow you to see if the trend is evolving as expected. You can also adjust your stop loss or your take profit based on market movements.
• Closing the position : when the EUR/USD pair reaches your target or you deem the moment opportune, you can manually close the position by clicking "Close Position". If the take profit or stop loss are reached, the position will close automatically.

6. Analysis of Results and Adjustments

Once the position is closed, analyze the result:

• Gains ou pertes : supposez que l’EUR/USD a atteint votre objectif de 100 pips de gain, cela signifie que, selon le volume de votre position, vous avez réalisé un bénéfice proportionnel. Par exemple, avec un volume de 0,1 lot, 100 pips pourraient équivaloir à environ 100 CAD de profit.
• Journal de trading : utilisez le journal intégré à MT5 pour revoir l’ensemble des décisions prises lors de cette transaction. Comprendre ce qui a bien fonctionné et ce qui peut être amélioré est indispensable pour développer vos compétences en trading.

Good to know

If you're a beginner, we advise you to choose an online broker that will also allow you to follow a href="https://hellosafe.ca/investissement/broker/formation-trading">diligent trading course and offer you a demo account.

Are trading brokers safe in Canada?

Security is a top priority for Canadian investors when choosing a trading platform. In Canada, brokers are governed by a robust regulatory system, distributed among the provinces and territories, to ensure the protection of client funds and the integrity of financial markets. Here is an overview of the main rules that guarantee the security of online brokers in Canada.

• Regulation and supervisory authorities: Brokers offering their services in Canada must be registered with provincial regulatory bodies, such as the Autorité des marchés financiers (AMF) in Quebec or the Ontario Securities Commission (OSC) in Ontario. At the national level, the new Canadian Investment Regulatory Organization (CIRO) (formerly IIROC) oversees securities dealers. These institutions ensure compliance with standards of transparency, compliance, solvency and investor protection.
• Segregation of client funds: Brokers regulated in Canada must keep client funds in segregated accounts from their own operating funds. This means that client money is protected from misuse, even in the event of broker bankruptcy.
• Canadian Investor Protection Fund (CIPF): Clients of brokers who are members of CIRO benefit from protection through the Canadian Investor Protection Fund (CIPF). In the event of broker failure, accounts are covered up to CAD 1 million per client, providing significant financial security.
• Negative balance protection: Some Canadian brokers offer negative balance protection, although this is not systematically required by regulation. This measure prevents traders from losing more than the capital they have invested, which is crucial when using leveraged products.
• Transparency of information: Registered brokers must provide clear and complete information on their fees, trading conditions, leverage levels, margin requirements and risks associated with the products. This allows Canadian investors to make informed decisions and compare platforms transparently.
• Technological security and data protection: Brokers are required to use state-of-the-art security technologies such as SSL encryption, two-factor authentication (2FA), and prevention systems against unauthorized access. The Personal Information Protection and Electronic Documents Act (PIPEDA) also governs how brokers handle clients' personal data.
• Regulators' warning lists: Canadian regulators regularly publish lists of unauthorized platforms. Investors are advised to consult these lists, such as the AMF (Quebec) or OSC (Ontario), before choosing a broker. A broker's inclusion on these lists is a warning sign to be taken very seriously.

What are the fees charged by brokers for trading?

Here is a table summarizing the different types of fees charged by online brokers, with average rates or amounts as well as an example for each type of fee. This table is designed to give you an idea of the costs you might encounter when using a trading broker.

• Spreads: Spreads are fees charged by brokers automatically on each position taken by the trader. They represent a slight difference between the buying price and the selling price of a financial product. Depending on the broker, and the asset chosen, the spread can be fixed or variable. In the case of a variable spread, the cost of this spread will vary depending on market volatility. Spreads represent the broker's main compensation.
• Swap fees: The swap is a fee charged on a position between two market sessions. They mainly concern traders practicing swing trading. Thus, and each time you keep a position open from one day to the next, fees are charged to your account as a charge. The amount of these fees varies depending on the broker's internal policy as well as volatility.
• Withdrawal fees: Although not applied by all brokers and for all types of withdrawals, these fees may be charged when the trader withdraws money from their trading account. However, depending on the withdrawal method chosen, it is possible to obtain free withdrawals from most brokers.
• Conversion fees: As the name suggests, these fees are applied to currency exchanges. A conversion may be applied by a broker if you invest in an asset denominated in U.S. dollars with Canadian dollars. 
• Account maintenance fees: While these fees have become increasingly rare over time, some brokers still charge them, and they are general fees. They can be charged monthly, quarterly, or annually.
• Inactivity fees: Some brokers also charge inactivity fees, which are applied when the trader does not use their trading account for a certain period. Most often, these fees are only charged after 12 months or 24 months of inactivity. However, some brokers apply them after 6 months. The amount of inactivity fees will also vary depending on the broker's policy, and we advise you to check these before registering.
• Specific fees for stocks: Stock trading will also involve certain specific fees at some brokers. These may include subscription fees or commissions in addition to the spread. Most often, these are fees charged to access real-time foreign market data.
• Guaranteed stop-loss order fees: Finally, some brokers also charge for the use of guaranteed stop-loss orders, although this practice is also becoming increasingly rare.

Which Broker is Best for Trading with a Demo Account?

One of the most effective ways to learn online trading is to use a demo account with a free demo account. These accounts are indeed offered by many brokers and allow you to both test the proposed platform and practice using different strategies before betting your own money. 

The demo account is equipped with virtual capital that can be unlimited or limited. This is virtual money that you will use to make your investments under real market conditions. Similarly, the duration of use of a demo account will vary from broker to broker.

The trading demo account allows you to enjoy various benefits, including:

• The possibility to learn without taking risks: A demo account will allow you to speculate in real market conditions without risking your own capital and therefore losing it.
• The possibility to learn how to use the platform: Also from a demo account, you will also be able to test most of the features offered by your broker's trading platform. This will allow you to practice using its features and tools safely.
• The ability to test trading strategies: Finally, the demo account also has the advantage of allowing you to test different trading strategies in parallel in order to detect the best solution and the best method.

How Much Can You Earn With a Trading Broker?

It is, of course, difficult to say precisely how much you can earn from trading, as your earnings depend primarily on your experience, your level of knowledge, and your initial investment.

If you take the time to train and practice using a demo account, your potential earnings will also depend on the type of strategy you implement.

• With a swing trading strategy, you can expect an optimal return of around 10% per month.
• With a day trading strategy, you can expect an approximate return of 30% or more per month by spending 5 to 6 hours a day trading.

Of course, the amount you can earn as a retail trader will also depend on the amount you invest on the trading platform. Indeed, a 10% return on an account with a deposit of $1,000 represents only $100, while if you deposit $10,000, you can earn up to $1,000 per month with an effective strategy.

Are Trading Profits Taxable in Canada?

Yes, in Canada, income from trading is taxable. However, the tax treatment depends on the type of activity and how the authorities view your investor profile.

If you are an individual investor and your trading activities fall under passive management (occasional buying and selling, without significant leverage), your gains may be treated as capital gains. In this case, only 50% of the capital gain is taxable, at the marginal tax rate applicable to your income. This treatment applies to stocks, ETFs, cryptocurrencies and other conventional financial instruments.

However, if the Canada Revenue Agency (CRA) considers your trading activity to be a business, your profits will be reclassified as business income. In this case, 100% of the gains are taxable, and this income is added to your other income to determine your total tax rate. This reclassification depends on several criteria: volume of transactions, use of leverage, holding period, speculation intentions, etc.

To calculate taxable income, you must find the difference between gains (capital gains) and losses (capital losses). If you are taxed as an investor, you can offset your capital losses with capital gains from the current year or the three preceding years, or carry them forward to future years.

All our guides on trading in Canada

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.