Best MT4 Brokers in Canada in 2025

Brokers we recommend

4.8 / 5

• Min. deposit: $100
• Platforms: MT4, MT5, TradingView, cTrader, Copy trading
• Regulators: Australia, Cyprus (EU), Kenya, Mauritius, South Africa, St. Vincent & the Grenadines

FP Markets is an ASIC- and CySEC-regulated ECN broker that welcomes Canadian clients except residents of British Columbia and Ontario. Open your account in Canadian dollars, and trade 1,000+ instruments on raws spreads plus a low $3 side-commission. Leverage runs as high as 1:500 on its NY4-hosted MT4 servers. Deposit over US$ 1,000 for a free VPS.

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4.1 / 5

• Min. deposit: $50
• Platforms: MT4, MT5, Copy trading
• Regulators: Cook Islands

Cook-Islands-regulated 4XC accepts Canadians from all provinces and focuses on high flexible leverage up to 1:500 on FX and gold. Standard accounts use floating spreads (EUR/USD typically 1.1–1.3 pips), while Pro accounts provide raw pricing plus a US$5 round-lot commission. For lower commissions, deposit over US$ 10,000.

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Trading Forex/CFDs on margin carries a high level of risk.

4.7 / 5

• Min. deposit: $100
• Platforms: MT4, MT5, Copy trading
• Regulators: Australia, BVI, Cyprus (EU), Ireland, Israel, Japan, South Africa, UAE

AvaTrade.com is an award-winning online broker in business since 2006. Trade CFDs on all asset classes, from Forex to ETFs and bonds. Its service appeals to novice and experienced traders alike.

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76% of retail CFD accounts lose money

4.0 / 5

• Min. deposit: $0
• Platforms: MT4
• Regulators: Cyprus (EU), Union of Comoros

FXCC offers pure-ECN execution on MT4 with leverage up to 1:500 and spreads from 0 pips (XL Account). Enjoy a 100% bonus on your first deposit (capped at US$ 2,000). FXCC is regulated in the EU, but accepts Canadian traders through its offshore entity accessible through the links on this page.

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4.1 / 5

• Min. deposit: $10
• Platforms: MT4, MT5, Copy trading
• Regulators: Belize

RoboForex.com is an offshore broker based in and regulated in Belize. Access over 12,000 instruments, including real equities and CFDs on Forex, crypto and oil, from a single platform. We were able to start trading in minutes, without ID verification.

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58.42% of retail CFD accounts lose money

Comparison table

We rate brokers across 5 categories and 18 criteria, following a standardised methodology. Here are our overall and category-specific ratings:

• Score / 5
• Markets
• Platforms
• Funding
• Regulators

Canadian investor protections

As a Canadian resident you can trade through a dealer regulated by the Canadian Investment Regulatory Organisation (CIRO) (formerly IIROC) or through an offshore broker that accepts Canadians.

CIRO-member firms must:

• Hold client funds in segregated accounts;
• Cap leverage at 1:50 on major FX pairs (lower on minors and CFDs);
• Participate in the Canadian Investor Protection Fund (CIPF), which insures each client up to C$ 1 million should the dealer fails⁽¹⁾.

Offshore brokers can legally offer up to 1:500 leverage, and almost all place client funds in segregated accounts. However, they aren't backed by statutory compensation schemes, which could make it harder for you to recover your funds in the event of bankruptcy.

Compare pricing models

If you're new to Forex trading, you might find the range of pricing options confusing. Fee structures generally fall into one of the following categories:

• Fixed spreads + no commission: The spread is the difference between the price at which you can buy and sell an instrument at a given point in time. Some brokers offer fixed spreads at all times, but this often means you'll pay wider spreads most of the time.
• Variable spreads + commission: Brokers like FP Markets and FXCC offer accounts with low variables spreads from 0 pips and a low commission.
• Raw spreads + commission: Some even allow you to trade on raw spreads and commission, with no spread mark-up.

If you scalp or use automated trading strategies, every fraction of a pip matters. Accounts with variable or raw spreads plus commission are usually more cost effective than ones with fixed spreads. Conversely, longer-term traders can live with slightly wider spreads if their broker offers tight slippage controls.

Account funding & base currencies

If possible, open a trading account in CAD to avoid currency conversion fees on deposits and withdrawals. FP Markets is the only broker in our panel to support the Canadian dollar as an account base currency.

Tip: if your preferred broker lacks CAD accounts, deposit through a multi-currency card such as Wise or Revolut to minimise hidden FX mark-ups.

Execution speeds & servers

Latency turns tight spreads into slippage. FP Markets hosts its MT4 infrastructure in New York (NY4) and rebates VPS fees once you deposit US$ 1,000 and meet low monthly trading volume requirements. 4XC runs primary servers in Equinix LD4, giving sub-40 ms pings from Eastern Canada. FXCC discloses aggregated ECN liquidity but not specific datacentre locations; you'll find average effective spreads on its website for transparency.

Conclusion

If statutory protection is your priority, open an MT4-compatible account with a CIRO dealer and accept the 1:50 leverage cap. Need higher leverage or raw pricing? FPMarkets.com is the only offshore broker in this shortlist with CAD accounts and 1:500 leverage, provided you don't live in BC or Ontario. Otherwise, 4xc.com are FXCC.com are solid alternatives for high-leverage traders happy to fund in USD.

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About the author

I'm Stefan, a trader and an entrepreneur. My mission with TrustedBrokers is to help you find the right broker for you, whether you're a beginner or a pro. I've personally used and tested the brokers mentioned in this article. I started my career in investment banking in London as an FCA-approved person.