Compare 4 best CFD brokers in Canada 2025

This detailed guide is the result of our extensive research. We’ve picked out the top places to invest that offer the best service to help you start CFD trading in Canada.

To identify the best services, we created a checklist of key criteria that a Canada CFD broker must meet in order to earn a high ranking. The features it must offer include:

• Regulatory approval from the Canadian Investment Regulatory Organization (CIRO), the financial regulator in Canada
• A low-cost way to trade CFDs in Canada
• A free demo account for beginners
• A significant number of available trading instruments, including stocks, forex, commodities, and crypto CFDs where available

The results are clear: Our panel recommends IG Markets as the best CFD broker in Canada for 2025.

Best CFD brokers Canada

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Alongside IG Markets , a number of other Canada CFD brokers impressed the experts. We rank these platforms highly, as CFD trading platforms in Canada that offer a secure, simple, and low cost trading experience.

Our top 4 best CFD trading platforms in Canada, reviewed & compared

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Is CFD trading legal in Canada?

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Yes, you can legally trade CFDs in Canada. However, certain aspects of CFD trading are regulated by the CIRO. The restrictions generally work in your favour, as they are designed to protect traders from large, unexpected losses.

Primarily this means there are limitations on the amount of leverage that CFD brokers in Canada can offer, along with a limit on the maximum losses any retail customer account can experience. In addition, they must clearly warn traders of the risks involved so you can make informed trading decisions.

How to find a reliable CFD broker in Canada

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The key features that separate the best CFD broker in Canada from the rest are security, cost, the range of markets available. Keep those in mind and you won’t run into too many problems. 

If you need more help making up your mind, use this short Q&A to find the best CFD trading platform in Canada.

Are CFD brokers in Canada regulated?

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Yes, online CFD brokers in Canada are licenced and regulated by CIRO, the Canadian Investment Regulatory Organization. CIRO sets the rules on Canada CFD trading, such as by restricting the amount of leverage on offer to 30:1 when you trade a contract for difference (CFD), along with which assets and markets are available.

The Canadian market is unique, in the sense that CIRO is just one of a few regulatory bodies you may see when you’re researching which platform to use. Different states in Canada are regulated by different bodies. So if you see any of these organizations, know that their rules and licences have the same legal force as those laid down by CIRO:

• The Ontario Securities Commission (OSC)
• The British Columbia Securities Commission (BCSC)
• The Autorité Des Marchés Financiers (AMF)

To further muddy the waters, CIRO used to be known as IIROC (the Industry Regulatory Organization of Canada). So if you see that name floating around, know that it’s exactly the same regulator as CIRO.

How else do CFD trading platforms in Canada protect me?

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The top CFD brokers in Canada offer negative balance protection, which is a form of insurance that protects you from losing more money than you have in your account. This is particularly useful if you use leverage or short CFDs, as it’s possible to lose significantly more than the initial value of your trade.

In Canada, you are also protected by the Canadian Investor Protection Fund (CIPF). This serves as a backstop to insure your cash or securities holdings in the event that your CFD firm becomes insolvent. The maximum amount that’s insured is $1 million, though this varies depending on your circumstances and the assets you hold. You can search the CIPF website to check if the firm you want to use is covered.

A Canadian CFD broker should also protect you by providing Two Factor Authentication (2FA) to secure your account and with a customer service line that’s always open and available to help. 

What types of Canadian CFD brokers are there?

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Most of the time, you’re going to be dealing with market makers. A market maker is a CFD broker in Canada that effectively creates a market for any asset at all times, so you can always buy or sell.

Other forms of Canada CFD brokers include direct market access (DMA) brokers or STP/ECN brokers. These offer faster trade execution or allow you to buy and sell from other traders directly, rather than through an intermediary. Though the truth is that these services are geared towards professional or high volume traders, rather than casual users.

How much do CFD brokers in Canada cost?

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Most CFD brokers in Canada offer no-commission trading, so you don’t have to pay each time you make a trade. However, the costs come elsewhere, usually in the form of the spread.

The spread is the difference between the buy and sell price of a contract for difference (CFD). The best Canada CFD trading platforms make money by taking a cut of that difference, so you can compare the costs of using different platforms by comparing the spreads. The lower the difference between the buy and sell price, the more cost-effective a platform is.

Which assets can I trade through a Canada CFD broker?

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Any CFD broker in Canada will offer currency and commodity markets. CFDs are the most common way to trade forex and commodities like gold and oil.

Then the rules can change depending on the whims of the Financial Consumer Agency of Canada (FCAC). Generally, you can trade stock CFDs, though the available companies may vary. In addition, you may be able to trade:

• Crypto CFDs
• ETF CFDs
• Indices CFDs

Though the regulation for crypto CFDs, in particular, can change rapidly.

To buy and sell the underlying assets, rather than using CFDs, consider using the best trading platforms in Canada, the best forex brokers in Canada, or the best crypto exchange in Canada.

Can I use leverage to trade CFDs in Canada?

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Yes, it’s common and legal to trade CFDs with leverage in Canada. The maximum permitted leverage is set at 30:1 by CIRO, and all CFD brokers in Canada must abide by those rules.

In reality, each CFD broker in Canada also offers differing leverage on different assets. Currency pairs offer the most leverage, as it’s a vital part of successful forex trading, while stock and crypto CFDs generally offer the lowest.

Do I have to pay tax on CFDs in Canada?

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Yes, you will be liable for either a capital gains tax, or business income tax, depending on how often you trade. The tax rules on CFDs in Canada are set out by the Canadian Revenue Agency (CRA).

Most CFD traders are charged business income tax, because their main goal is to generate profit (as opposed to as a hobby). As CFD trading relies on a lot of fast, intraday trading and a large number of trades, it generally qualifies as a business operation according to the CRA.

The basic corporation tax rate in Canada is 9% for small businesses, while there may be additional provincial taxes on top of this. It’s best to contact an accountant to ensure you calculate your tax burden accurately, and remember to keep a detailed record of each trade you make.

Are there any other ways to trade?

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Yes, one of the most appealing aspects of CFD trading for beginners is the fact you can use CFDs to trade for and against the market. Shorting is when you place a trade on an asset or market to fall in value, and is a very popular way to trade.

Because of that, you can also use CFDs to hedge other trades that you have open. This is where you place a trade on the opposite position to one you made previously. It’s used as a risk management strategy to minimise losses or lock in profit in case something changes.

Do CFD platforms in Canada offer professional trading accounts?

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Yes, generally they do, although the qualifications can be steep. Most of the best trading platforms in Canada offer a retail account to all users, then provide faster execution speeds or lower spreads to high volume users who must meet certain capital requirements.

These accounts are only accessible to a small number of people, who have both significant starting funds and a high annual turnover. Unless you can supply the equivalent of at least $500,000 as a qualifying deposit, it’s unlikely you’ll be able to sign up to a professional account with any Canadian CFD provider.

How to start trading CFDs in Canada

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Follow this guide to learn how to use a CFD trading platform in Canada and to place your first CFD trade.

Step 1. Create an account

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Choose the best CFD broker in Canada and sign up with your email and contact details. You may be asked to supply some photo ID to meet Financial Consumer Agency of Canada (FCAC) regulations.

Step 2. Deposit some money

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Fund your account with your favoured payment method. Most CFD brokers in Canada accept bank transfers, card payments, and some e-wallets like PayPal.

Step 3. Choose what to trade

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Search for the asset you want to trade. Stock CFDs can be found by searching for the correct ticker symbol, and the same is true for currency pairs, commodities, and crypto CFDs as well.

Step 4. Decide whether to go long or short, and set your position size

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Choose whether to buy (go long) or sell (short) the asset. Then enter how much you want to trade (this is known as the ‘margin’) and how much leverage you want to use.

Step 5. Finalise the trade

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Check the details and execute the trade once you’re happy with it. After that, keep monitoring the position regularly until you’re ready to close it out. Consider setting stop-loss limits to protect you from unexpected swings in the market.

To summarise

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CFD trading is a popular and accessible way to trade for all Canada users, but there are a few risks as well. Canadian CFD providers give you access to global markets and a greater range of trading options, so you can back markets to go both up and down.

However, using leverage can lead to significant losses and, with CFDs, you don’t own the underlying assets themselves, so you have less investor protection than – for example – company shareholders.

This guide picks out the 4 best CFD brokers in Canada, based on their cost, accessibility, and the range of products available. Once you fully understand the pros and cons, choose any of the top CFD trading platforms above to get started with. It only takes a few minutes to start trading CFDs in Canada. 

FAQs

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