Who supervises brokers in Canada?

Supervision sits with CIRO and CSA. 6 of the providers available here hold a licence from a local authority; the rest operate under a foreign authorisation. Investor protection: CIPF — up to CAD 1,000,000 per account category.

Does the broker withhold tax in Canada for me?

Among the providers we review, Questrade, Qtrade Direct Investing and Wealthsimple Trade settle the tax directly in Canada. With every other provider you declare the income yourself.

🇨🇦 CA · Country profile

Best brokers in Canada

Canadian investors should choose the wrapper first and the broker second. TFSA and RRSP change after-tax returns more than any fee difference. Also watch the FX markup on US securities — at Canadian brokers it is frequently 1.5% or more.

Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.

Brokers available: 17of 72
With a local licence: 6
Tier-1 regulated: 17
Avg. score: 4.1

Country profile

Market profile

Supervision, investor protection and tax — the three points that decide the account.

Canada

CA · Country profile

Local currency: CAD
Local regulator: CIROCSA
Reviewed providers: 17 of 72

Investor protection

CIPF — up to CAD 1,000,000 per account category

The part that decides

Tax notes

Only half of capital gains is taxable. TFSA accounts deliver fully tax-free returns; RRSP accounts provide tax-deferred retirement saving.

Brokers that withhold tax locally

These providers settle the tax in-country for you, which removes the need to declare the income yourself.

Orientation based on the general legal position — not tax advice. Your personal situation and the legislation in force at the time govern.

Available here

The ranking

Ranked by our overall score across ten weighted criteria. Only providers that accept clients resident here.

All brokers in this category

Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.

Interactive Brokers

The cheapest serious route to almost every market on earth — if you can live with the learning curve.

4,5

Active and professional tradersMulti-currency investorsOptions and futures traders

Up to USD 1,000 in stock — Referral programme with share credit

Stocks (per order): 0.05 %
Minimum deposit: None
EUR/USD spread: 0.1 pips

US stocks from USD 0.0035 per share on the Tiered plan, minimum USD 0.35 per order and capped at 1% of trade value
Currency conversion at 0.20 basis points (minimum USD 2) — an order of magnitude cheaper than most European brokers' 0.25%–1.5%
Customer support is the standout weakness — ticket-first, slow, and frequently answered with generic templates

Group index 90/100Protection depends on your legal entity

SECFCA+3

StocksETFsOptionsFuturesForex+7

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CMC Markets

The best charting package in retail CFD trading, wrapped around a narrower product range than the market count suggests.

4,4

Technical and chart-driven tradersUK and Irish spread bettingActive FX traders on FX Active

Stocks (per order): Free
Minimum deposit: None
EUR/USD spread: 0.7 pips

Next Generation is the strongest charting suite bundled with a retail CFD account — 115+ indicators, 70 chart patterns, 12 chart types and pattern-recognition scanners, at no extra cost
0% commission on UK and European share CFDs (Greece the sole exception at 0.45%), against IG's spread-plus-conversion model
None of CMC's derivatives is exchange-traded: the options it quotes are OTC and cash-settled, and there are no cleared futures at all, so CMC is the counterparty on every derivative contract and no clearing house stands behind it

Group index 94/100Protection depends on your legal entity

FCAFCA+4

StocksETFsOptionsForexCFDs+5

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moomoo

The most data-rich free trading platform on the market — if you happen to live in one of the seven countries it serves.

4,3

Data-driven active tradersUS options tradersAsia-Pacific investors

Stocks (per order): Free
Minimum deposit: None
5,000 order: €0

Free Nasdaq TotalView Level 2 depth on the US platform — Webull charges USD 3.99 per month for comparable data
USD 0 commission and USD 0 contract fee on US stocks, ETFs and equity options for US residents
Available to residents of only seven countries — the United States, Canada, Singapore, Australia, Japan, Malaysia and New Zealand — with no EU, UK or DACH entity

Group index 86/100Protection depends on your legal entity

FINRAMAS+3

StocksETFsOptionsFuturesCrypto+2

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XTB

The best trading platform in the commission-free bracket - xStation 5 is a professional workspace attached to a zero-commission share account.

4,3

Serious charting on a budgetCommission-free European stocksForex and index CFDs

0% — 0% commission on stocks and ETFs up to the monthly volume cap

Stocks (per order): Free
Minimum deposit: None
EUR/USD spread: 0.9 pips

xStation 5 is the best platform in the commission-free bracket - a real screener, market heat map, sentiment data, economic calendar and news in one workspace, on web, desktop and mobile with near-identical features.
Commission-free real stocks and ETFs up to EUR 100,000 of turnover per calendar month; above that only the excess is charged at 0.2% with a EUR 10 minimum.
The 0.5% currency conversion charge (0.8% at weekends and on public holidays) applies whenever the instrument currency differs from your account currency. For a EUR investor buying US stocks it is charged on the way in and again on the way out, and it dwarfs the commission it replaces.

Group index 72/100Protection depends on your legal entity

FCAKNF+5

StocksETFsOptionsForexCFDs+3

Visit broker Read review

CapTrader

Interactive Brokers' market access wrapped in German regulation, German support and a German phone number.

4,2

German-speaking options and futures tradersActive traders who want IBKR pricing with German supportMulti-currency and global stock investors

Stocks (per order): 0.1 %
Minimum deposit: €2,000
FX conversion: 0 %

BaFin-supervised German investment firm (institution number 10156708) with a Düsseldorf address, German contract law and a free German hotline until 20:00
Eurex options and futures at EUR 2.00 per contract, Mini-DAX futures at EUR 1.00 and CME Micro E-minis at USD 1.25 — competitive with anything available to German retail traders
No Abgeltungsteuer is withheld. German investors gain a compounding advantage but must declare everything themselves via Anlage KAP, and a Freistellungsauftrag is not possible — for many people that alone rules CapTrader out

Group index 81/100Protection depends on your legal entity

BaFinCBI+1

StocksETFsOptionsFuturesForex+6

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Questrade

Canada's biggest independent broker, now genuinely commission-free — with a 1.5% currency spread as the sting in the tail.

4,2

Canadian self-directed investorsRegistered account investing (TFSA, RRSP, FHSA, RESP)US options traders

Stocks (per order): Free
Minimum deposit: None
EUR/USD spread: 1.9 pips

CAD 0 commission on every Canadian and US stock and ETF trade, on both the buy and the sell side, with no ECN fees at all on Canadian orders
CAD 0 contract fee on US-listed equity options and free assignment — one of only two Canadian brokers offering this
The 1.5% CAD/USD conversion charge is high and unavoidable unless you deliberately manage currency; on a CAD 20,000 US-stock purchase it costs CAD 300, dwarfing any commission saving

Group index 76/100Protection depends on your legal entity

CIROOSC

StocksETFsOptionsForexCFDs+5

Visit broker Read review

Kraken

The most heavily licensed venue in crypto — and the only one that is also a chartered US bank.

4,1

Traders who prioritise regulatory qualityCrypto derivatives and margin tradersAPI and algorithmic traders

Stocks (per order): Free
Minimum deposit: €1
5,000 order: €0

Wyoming SPDI bank charter through Kraken Financial — a full-reserve institution required to hold 100% unencumbered liquid assets against customer fiat, with a Federal Reserve limited-purpose master account
Two MiCA Crypto-Asset Service Provider authorisations plus an EMI licence from the Central Bank of Ireland, passported across all 30 EEA countries
Entry-tier spot pricing of 0.40% maker and 0.80% taker is the most expensive base rate among major regulated venues, and you need USD 10,000 of 30-day volume before it drops below 0.40% taker

Group index 78/100Protection depends on your legal entity

CBICBI+10

StocksETFsOptionsFuturesForex+2

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OANDA

Thirty years, six top-tier licences and the best mobile app in FX - attached to spreads you have to work around.

4,1

BeginnersMobile-first tradersUS and Canadian residents

Stocks (per order): 0.06 %
Minimum deposit: None
EUR/USD spread: 1.7 pips

Regulated by six tier-1 authorities - CFTC/NFA, FCA (542574), CIRO, ASIC (AFSL 412981), MAS and the JFSA - a licence footprint almost nobody in retail FX matches
Trading since 1996, with client money segregated and FSCS cover up to GBP 85,000 for UK clients and CIPF cover up to CAD 1,000,000 in Canada
The default spread-only account is expensive: EUR/USD has been measured at 1.4 to 1.7 pips against roughly 0.8 pips all-in at raw-spread competitors

Group index 89/100Protection depends on your legal entity

CFTC/NFAFCA+6

StocksETFsForexCFDsCrypto+5

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Qtrade Direct Investing

Canada's best-researched discount broker — now commission-free, still let down by its mobile app.

4,1

Research-driven stock and ETF investorsMutual fund investorsRegistered account investing (TFSA, RRSP, FHSA, RESP)

Stocks (per order): Free
Minimum deposit: None
5,000 order: €0

CAD 0 commission on equities, ETFs and mutual funds alike — the only Canadian broker of the three to make mutual funds free as well
Morningstar analyst recommendations, target prices and fundamental research bundled free on every company page, with no data subscription
Cash pays 0.00% on every balance up to CAD 2,000,000 — on a CAD 25,000 cash buffer that is roughly CAD 1,100 a year of foregone interest against a Wealthsimple chequing balance

Group index 76/100Protection depends on your legal entity

CIROBCSC

StocksETFsOptionsBondsFunds+1

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Wealthsimple Trade

The best consumer app in Canadian finance, and the first broker in the country to make equity options genuinely free.

4,1

App-first Canadian investorsOptions sellers and covered-call writersConsolidating banking, investing and crypto

Stocks (per order): Free
Minimum deposit: None
FX conversion: 1.5 %

CAD 0 commission on Canadian and US stocks and ETFs, plus USD 0 per equity and ETF options contract on every tier, including free assignment
Futures at USD 1 per contract with free real-time futures market data — no Canadian competitor matches that combination
The 1.5% CAD/USD conversion is the same as Questrade's. A USD account (CAD 10 a month on Core, free on Premium from CAD 100,000) removes it on the US trades themselves but not on the CAD you convert into it, which still costs 1.5% per transaction under CAD 10,000 and falls to 0% only from CAD 100,000; journalling at CAD 9.95 is the other way round it

Group index 69/100Protection depends on your legal entity

CIRO

StocksETFsOptionsFuturesCrypto+2

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Webull

A desktop-grade trading terminal wrapped in a zero-commission app — with a support desk that lags badly behind the software.

4,1

US options tradersChart-driven active tradersMobile-first investors

Stocks (per order): Free
Minimum deposit: None
5,000 order: €0

USD 0 commission on US-listed stocks, ETFs and equity options, with no per-contract fee — index options are the only equity-derivative exception at USD 0.50 per contract
A real desktop terminal for Windows, macOS and Linux, with multi-monitor layouts, depth-of-market and a script editor — rare at this price point
Customer support is the standing complaint: Trustpilot sits at roughly 1.3–1.4 out of 5, with transfers and account access the most common themes

Group index 86/100Protection depends on your legal entity

FINRACFTC/NFA+4

StocksETFsOptionsFuturesCrypto+4

Visit broker Read review

Dukascopy Bank

A real Swiss bank running a real ECN — with a tariff sheet that punishes anyone who moves money often.

4,0

Experienced ECN and algorithmic FX tradersClients who want a bank, not a brokerSwiss and cross-border investors

Stocks (per order): 0.06 %
Minimum deposit: US$100
EUR/USD spread: 0.1 pips

Licensed by FINMA as both a bank and a securities firm — full Swiss banking supervision, capital requirements and audit obligations, not a CFD-broker permission
esisuisse depositor protection up to CHF 100,000 per client on cash balances, which is five times the EUR 20,000 investor compensation most EU brokers offer
Bank transfer withdrawals are priced per currency and rail — EUR 2.3 over SEPA up to EUR 20, USD 19 up to USD 35, and nominally much more in minor currencies such as HUF 5,500 or JPY 2,500 — and card withdrawals add EUR 1.5 plus 2.5%; cash movement is the single worst part of the tariff

Group index 82/100Protection depends on your legal entity

FINMAJFSA+1

StocksETFsForexCFDsCrypto+3

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By trading style

Best broker per category

Every category weights the rating criteria differently — which is why the same provider rarely wins everywhere.

Forex

Weighted on: Fees · Trading platform

Stocks

Weighted on: Fees · Product range

Options

Weighted on: Fees · Trading platform

Futures

Weighted on: Fees · Trading platform

Crypto

Weighted on: Fees · Safety & regulation

CFDs

Weighted on: Fees · Safety & regulation

ETFs

Weighted on: Fees · Safety & regulation

Beginners

Weighted on: Education · Trading platform

Lowest cost

Weighted on: Fees · Safety & regulation

Transparency

Not available here

Transparency means showing the gaps too. These reviewed providers do not accept clients resident here.

Charles SchwabExplicitly excluded
Fidelity InvestmentsExplicitly excluded
IGExplicitly excluded
PepperstoneExplicitly excluded
SaxoExplicitly excluded
Capital.comExplicitly excluded
IC MarketsExplicitly excluded
NordnetNot offered
tastytradeExplicitly excluded
Admirals (Admiral Markets)Explicitly excluded
AJ BellNot offered
interactive investorNot offered
LYNXNot offered
ThinkMarketsExplicitly excluded
Trading 212Explicitly excluded
ActivTradesExplicitly excluded
BybitExplicitly excluded
DEGIRONot offered
eToroExplicitly excluded
flatexNot offered
FP MarketsExplicitly excluded
SwissquoteExplicitly excluded
TradeStationExplicitly excluded
AvaTradeExplicitly excluded
BinanceExplicitly excluded
comdirectNot offered
ConsorsbankNot offered
EstablyExplicitly excluded
Freedom24Explicitly excluded
FxProExplicitly excluded
Public.comNot offered
RobinhoodExplicitly excluded
Scalable CapitalNot offered
TickmillExplicitly excluded
Vantage MarketsExplicitly excluded
BitpandaNot offered
CornèrtraderNot offered
ExnessExplicitly excluded
Hargreaves LansdownNot offered
LightyearExplicitly excluded
Smartbroker+Not offered
Trade RepublicExplicitly excluded
BlackBull MarketsExplicitly excluded
finanzen.net ZERONot offered
FreetradeNot offered
Markets.comExplicitly excluded
XMExplicitly excluded
BitstampExplicitly excluded
YuhNot offered
LibertexExplicitly excluded
SkillingExplicitly excluded
BUXNot offered
justTRADENot offered
PostFinance E-TradingNot offered
Revolut InvestNot offered

Head to head

The top 8, row by row

Fees apply to retail accounts under normal market conditions. Each provider's data date is on its review.

The top 8, row by row — Canada
Rank#	Broker	Overall score	Stocks (per order)	Minimum deposit	FX conversion	Local licence	Tax withheld	Asset classes	Action
1	Interactive BrokersSEC · FCA · CBI	4,5	0.05 %	None	0 %	Local licence	Tax withheld	12	Visit broker
2	CMC MarketsFCA · ASIC · BaFin	4,4	Free	None	0.7 %	Local licence	Tax withheld	10	Visit broker
3	moomooFINRA · MAS · ASIC	4,3	Free	None	n/a	Local licence	Tax withheld	7	Visit broker
4	XTBKNF · FCA · CySEC	4,3	Free	None	0.5 %	Local licence	Tax withheld	8	Visit broker
5	CapTraderBaFin · CBI · FCA	4,2	0.1 %	€2,000	0 %	Local licence	Tax withheld	11	Visit broker
6	QuestradeCIRO · OSC	4,2	Free	None	1.5 %	Local licence	Tax withheld	10	Visit broker
7	KrakenCBI · FCA · SEC	4,1	Free	€1	n/a	Local licence	Tax withheld	7	Visit broker
8	OANDACFTC/NFA · FCA · ASIC	4,1	0.06 %	None	1 %	Local licence	Tax withheld	10	Visit broker

Provider holds a licence from a supervisory authority of this country. Provider withholds capital gains tax in this country automatically.

Countries

Frequently asked questions

17 of the 72 providers we review accept clients resident in Canada. The highest rated right now are Interactive Brokers, CMC Markets and moomoo. The full ranking with fees and regulation is at the top of this page.

Content on Brokaro is for information purposes only and is not investment, legal or tax advice.

Keep comparing

Other countries

Neighbouring countries

Regulation and tax rules stop at the border — the comparison is worth it.

Other countries

Germany54 Austria51 Switzerland46 Netherlands49 France46 Australia36 Italy46 Spain46 Poland43 Sweden44 Norway44 Denmark44 Belgium30 Portugal44 Ireland46 New Zealand29 Singapore31 Hong Kong34

See all countries

Best brokers in Canada

Brokers available: 17of 72
With a local licence: 6
Tier-1 regulated: 17
Avg. score: 4.1

Broker

Overall score

Stocks (per order)

Minimum deposit

FX conversion

Local licence

Tax withheld

Asset classes

Interactive BrokersSEC · FCA · CBI

4,5

0.05 %

None

0 %

Visit broker

CMC MarketsFCA · ASIC · BaFin

4,4

Free

None

0.7 %

Visit broker

moomooFINRA · MAS · ASIC

4,3

Free

None

n/a

Visit broker

XTBKNF · FCA · CySEC

4,3

Free

None

0.5 %

Visit broker

CapTraderBaFin · CBI · FCA

4,2

0.1 %

€2,000

0 %

Visit broker

QuestradeCIRO · OSC

4,2

Free

None

1.5 %

Visit broker

KrakenCBI · FCA · SEC

4,1

Free

€1

n/a

Visit broker

OANDACFTC/NFA · FCA · ASIC

4,1

0.06 %

None

1 %

Visit broker

Market profile

Canada

Tax notes

The ranking

Best broker per category

Not available here

The top 8, row by row

Frequently asked questions

Which brokers accept clients from Canada?

Who supervises brokers in Canada?

How is investment income taxed in Canada?

Does the broker withhold tax in Canada for me?

Other countries

Neighbouring countries

Other countries

Market profile

Canada

Tax notes

The ranking

Best broker per category

Not available here

The top 8, row by row

Frequently asked questions

Which brokers accept clients from Canada?

Who supervises brokers in Canada?

How is investment income taxed in Canada?

Does the broker withhold tax in Canada for me?

Other countries

Neighbouring countries

Other countries