Best MT5 Brokers in Canada for 2025

TOP 5 Comparison

In order to choose the Best MT5 Brokers in Canada in 2025, TU analysts chose 5 best brokers in this country. In the table below, you can see a basic comparison of these companies. Experts selected only the most reliable brokers that are popular among traders in Canada.

How to choose МТ5 broker in Canada

Choosing a MetaTrader 5 (MT5) broker in Canada involves considering several important factors to ensure you have a reliable and effective trading experience. MT5 is a popular platform for trading forex, CFDs, and other financial instruments, and it's crucial to select a broker that offers stability, good service, and fair trading conditions. Here are some tips for beginners:

1. Regulatory compliance

Ensure that the broker is registered with and regulated by a reputable Canadian authority, such as the Investment Industry Regulatory Organization of Canada (IIROC). Regulation helps to ensure the broker follows certain standards for fair trading and client protection. Check if the broker is a member of the Canadian Investor Protection Fund (CIPF), which can provide insurance on your trading account in the event of the broker's insolvency.

2. Account features

Examine the types of accounts the broker offers and ensure they align with your investment goals and trading style. For instance, some might offer accounts with higher leverage, while others may have accounts with better spreads. Look at the minimum deposit requirements, commission structure, spread types (fixed or variable), and the leverage they offer.

3. Trading costs

Compare the fee structures of different MT5 brokers. Be aware of not only the spreads but also any commissions per trade, overnight financing charges (swap rates), and any other hidden fees. Consider if the broker offers a no-dealing-desk (NDD) model to avoid additional costs and potential conflicts of interest.

4. Platform stability and execution speed

Check reviews and possibly test with a demo account to see if the broker's MT5 platform is stable and reliable. Execution speed is particularly important if you plan to engage in scalping or high-frequency trading. Find out what kind of infrastructure they use. Do they have servers located near major financial hubs? This can decrease latency and improve order execution.

5. Customer service and support

Good customer support is essential, especially for beginners. Ensure that the broker has a reputation for responsive customer service. Verify if they offer support in the official languages of Canada (English and French), and check if they provide 24/5 or 24/7 support to cover the trading week.

6. Educational resources and tools

For beginners, having access to educational materials (like webinars, articles, and tutorials) can be very helpful. Look for brokers that offer additional tools such as economic calendars, analysis tools, and news feeds which can enhance your trading on the MT5 platform.

7. Trial with a demo account

Most brokers offer a demo account. Make use of this to familiarize yourself with the MT5 platform through the specific broker. It also allows you to test the broker’s execution speed, spread stability, and other trading conditions without any risk.

Are MT5 brokers legal in Canada?

MT5 brokers are legal and operational in Canada, supervised by the Investment Industry Regulatory Organization of Canada (IIROC), which enforces strict regulatory standards to protect traders and maintain a fair trading environment. Canadian traders have the freedom to use these platforms for trading a range of instruments.

With the robust regulatory framework in place, including IIROC oversight and CIPF membership for brokers, traders can confidently engage with MT5 platforms, selecting from various IIROC-licensed brokers. These brokers are often reviewed for their features and services, providing traders with information to choose a reliable broker for their trading needs in Canada.

Can Canadians use international MT5 brokers

Yes, Canadians can use international MT5 brokers; however, they must ensure these brokers accept Canadian clients and adhere to the local regulations that apply to Canadian citizens. While the Investment Industry Regulatory Organization of Canada (IIROC) regulates domestic brokers, international brokers are governed by their respective jurisdictions.

Canadian traders opting for offshore brokers should be cautious, as they might not be protected by Canadian laws or the Canadian Investor Protection Fund (CIPF). It's crucial to verify the credibility of these international brokers, understand the risk, and recognize that recourse in the event of a dispute may be limited.

When considering an international MT5 broker, Canadians should look for those regulated by reputable bodies such as the UK's Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), or the Cyprus Securities and Exchange Commission (CySEC). These entities enforce strict regulatory standards, providing a level of investor protection.

It's also important to consider factors such as leverage, spreads, customer service, and the availability of support in French or English. Researching broker reviews, checking their regulatory status, and testing their services with a demo account are advisable steps before committing to an international MT5 broker.

How do I get started with MT5 in Canada?

To get started with MT5 in Canada, follow these step-by-step instructions:

Step 1: Research and choose a broker

Start with researching brokers that offer MT5 and are regulated by the IIROC in Canada. Look into their reputation, fee structure, and the level of customer support they offer. Ensure they accept Canadian clients and provide sufficient protection for your investments.

Step 2: Open and fund Your account

After selecting your broker, go to their website and initiate the account opening process. This will typically require you to complete an application and submit identification documents. Once your account is set up, choose a funding method that is convenient for you, such as a bank transfer or credit card, and deposit your initial trading capital.

Step 3: Download and set up MT5

Download the MT5 platform either directly from the MetaQuotes website or through the broker's site if they offer a customized version. Install it on your preferred device, log in with your broker-provided credentials, and spend some time customizing your trading environment.

Step 4: Practice with a demo account

Before you begin trading with real money, it is advisable to practice on a demo account. This will help you get comfortable with the MT5 interface and its features without any financial risk. Once you feel confident, you can start live trading with your actual funds.

TU Expert Review for the best MT5 Brokers in Canada

Anton joined Traders Union as a financial expert and analyst in 2013. He performs comprehensive internal testing of brokers as a trader. Essentially, Anton “test drives” brokers: he checks the operation of the website and user account, the speed and effectiveness of customer support team, stability of the software, deposit and withdrawal processing times, legal documents of companies and also all additional services (VPS, affiliate programs, contests, bonuses, educational programs, etc.). Based on the results of his “inspections”, he prepares expert conclusions about the operation of brokerage companies in the Forex, stock and binary option markets and also of the cryptocurrency exchanges.

His opinion as for the best MT5 Brokers in Canada is posted below.

VT Markets - TU Expert Review

The VT Markets brokerage is part of the Vantage Group with its main office based in Australia. In 2016 it opened a representative office in the Cayman Islands, which is currently regulated by the local Cayman Islands Monetary Authority. VT Markets serves over 10,000 clients, providing them with access to trading currency pairs and different types of CFDs. The broker offers ECN and STP accounts, so traders with different trading experiences will feel comfortable here. Muslim clients can trade from swap-free accounts. VT Markets strives to provide favorable terms both for active market participants and for investors who prefer passive strategies. There is an affiliate program with high remuneration based on the CPA model. The VT Markets firm provides standard leverage, retains average trading fees, and provides twenty-four/seven support on trading days. The broker offers a lot of analytics, trading tips, and market overviews, but most of them are available to clients who have deposited $1,000 or more. Another disadvantage of VT Markets is the lack of opportunity to make transactions with cryptocurrencies. Also, remember the regional restrictions. They concern residents of the USA and many other countries.

LiteFinance - TU Expert Review

The LiteForex (LiteFinance) broker has been operating for over 14 years and that characterizes the company as a reliable and responsible partner. The broker is focused mostly on professional traders, as evidenced by a relatively high initial deposit and the absence of cent accounts. I would like to point out the transparency of the broker's trading conditions as there are no pitfalls or hidden commissions. There are no restrictions on scalping, hedging, or the use of trading advisors. Recently, the company updated its personal account from a classic account into a full-fledged trading tool. And now you can start profit directly from your account in one click. Analytics have been added to the cabinet platform for novice traders: fundamental and technical forecasts for each pair, market sentiment, etc. You can also manage the affiliate program from the cabinet and create an investment portfolio using the SocialTrading service. LiteFinance is a professional trading company. The broker fully fulfills its obligations; therefore, it is one of the regular partners of the Traders Union.

AMarkets - TU Expert Review

AMarkets is one of those brokers that make earning convenient and comfortable. First of all, I’d like to highlight its high order execution speed and narrow spread on STP accounts: up to 0.1 second and from 1.3 pips respectively. These are very competitive indicators for orders that are directly transferred to liquidity providers. The company is positioned as a platform for algorithmic trading and PAMM investing, which is why the narrow spread and nearly instant order execution are the broker’s key advantages. AMarkets will be more suitable for those, who already have trading experience or are serious about getting the result. The minimum deposit is USD 100, which rules out those who came to Forex by accident, expecting quick and easy returns. The company is primarily interested in those who want to learn to make money, and AMarkets is prepared to give such traders everything for a successful start. The website features a very strong analytical base, signal providing services, and robots with descriptions of settings. There is a free VPS service for a separate category of clients. AMarkets has been a partner of Traders Union for several years, ranked among the top brokers in the TU rating thanks to its reliability, attractive trading conditions and positive reviews of traders.

IC Markets - TU Expert Review

IC Markets has many years of experience in financial markets. It was incorporated in 2007 and provides its services in strict accordance with regulatory requirements so as not to lose its licenses and client trust. The broker constantly improves its services, ensuring software technical stability, a high level of data protection, and favorable trading conditions. IC Markets has been in Traders Union's top 20 Forex brokers for many years and is a constant partner. TU can recommend IC Markets to traders with different backgrounds, who use both short- and mid-term strategies, as well as expert advisors and custom indicators. The important advantage of IC Markets over other brokers is diversity. The company offers plenty of trading instruments: 60+ currency pairs, CFDs on futures, indices, commodities, metals, 2,100+ stocks (Nvidia stock, Apple stock, Google stock, Tesla stock etc.), bonds, cryptocurrencies. A wide range of account types, and a good choice of platforms for active and social trading. Other IC Markets advantages are three regulatory licenses, membership in the Financial Commission, and participation in several compensation schemes.

FBS - TU Expert Review

The FBS broker fulfills its obligations as a partner to Traders Union and is recognized by the members of the Union as a company that offers clients optimal trading conditions under a single trading account with Demo account and Swap-free features available. This allows its clients to choose the best option based on the trading strategy and financial instrument, as well as individual requirements. The broker provides all traders with negative balance protection. Considering all this, we can say that the FBS broker is suitable for both novice traders and professionals of foreign exchange trading. It should be noted that the company's support service works around the clock, 7 days a week, and you don't have to wait long for an answer. The broker's website is simple, you can understand it intuitively.