🇨🇦 Broker coverage in Canada

Regulatory overview

Canada national self-regulatory organisation for investment dealers is CIRO (Canadian Investment Regulatory Organization), formed in 2023 from the merger of IIROC and the MFDA. Retail over-the-counter forex and CFD products are offered through CIRO-registered investment dealers; securities regulation is administered provincially by members of the Canadian Securities Administrators (CSA). [S1][S3] Client assets at an insolvent CIRO member firm are protected by the Canadian Investor Protection Fund (CIPF) up to CAD 1,000,000 per customer per account category; CIPF covers cash and securities, excludes crypto assets, and does not cover market or trading losses. [S2] Per-broker CIRO registration and the relevant provincial registration must be confirmed individually. [S3]

Considerations

Confirm the dealer is CIRO-registered and registered in your province (registration differs by province). [S3] CIPF protects against firm insolvency, not trading losses, and excludes crypto assets. [S2] Offshore forex/CFD brands not registered with CIRO are operating outside Canadian retail protections. [S1]

Frequently asked questions

Is retail forex/CFD trading legal in Canada?

Yes, through CIRO-registered investment dealers; securities oversight is provincial (CSA). [S1][S3]

Is my money protected if the dealer fails?

CIPF covers eligible client property up to CAD 1,000,000 per account category; it excludes crypto assets and does not cover trading losses. [S2]

Sources

1. [S1] CIRO - Canadian Investment Regulatory Organization — https://www.ciro.ca/
2. [S2] CIPF - Canadian Investor Protection Fund coverage (CAD 1,000,000 per category; excludes crypto; not market loss) — https://www.cipf.ca/cipf-coverage/about-cipf-coverage
3. [S3] CSA national registration search (per-broker / per-province check) — https://www.aretheyregistered.ca/