Forex brokers accepting Canadian clients may seem impossible to find.
Strict regulations and general confusion on regulations keep some brokers from dealing with Canadians.
There still are many Forex brokers that accept residents of Canada.
In an attempt to impose stringent regulatory requirements, the IIROC in Canada follows the NFA and CFTC in the USA. IIROC regulated forex brokers do offer low leverages of 1:1 and up to 50:1.
This has discouraged many brokerage firms from getting IIROC regulations. With lower leverages offered, not many Canadian traders are interested in Canadian forex brokers.
In Canada, Canadian citizens are required to choose a forex broker regulated by the IIROC.
However, it is not illegal to choose some other global forex broker because numerous regulatory bodies work in various provinces of Canada.
When you live in Canada and want to choose an overseas forex broker, you should understand the legal consequences and consult a legal advisor, before heavily investing with a foreign forex broker.
Below you will find a list of international FX brokers that accept Canadian citizens in 2021.