Best USD/CAD Forex Brokers

Written by Miro Nikolov

Miro Nikolov

Miro Nikolov is the co-founder of TradingPedia.com and BestBrokers.com. His mission is to help people make profitable investments by giving them access to educational resources and analytics tools.

, | Updated: March 14, 2025

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• Jump to:
• Curated List of The 10 Best Forex Brokers for USD/CAD Trading
• How Trading USD/CAD Works
• FAQ
›

Our team of expert traders tested several regulated and trustworthy forex brokers and compiled a toplist with the best brokers for trading USD/CAD. Each broker received a quality score based on several factors, including Trustpilot rating, regulation, fees and commissions, available trading platforms, customer service and more.

1. 

   Fusion Markets

   Rating: 4.5

   74-89% of retail's CFD accounts lose money

2. 

   FP Markets

   Rating: 4.8

   73.85% of retail investor accounts lose money

3. 

   Global Prime

   Rating: 4.5

   74-89% of retail CFD accounts lose money

4. 

   Pepperstone

   Rating: 4.5

   75.5% of retail investor accounts lose money

5. 

   Axi

   Rating: 4.4

   The vast majority of retail client accounts lose money

6. 

   XM Group

   Rating: 3.2

   72.82% of retail investor accounts lose money

Our team has thoroughly evaluated all brokers listed below using TradingPedia’s exclusive methodology.

Curated List of The 10 Best Forex Brokers for USD/CAD Trading

The foreign exchange market has been getting more and more accessible in recent years thanks to the sheer variety of forex brokers that offer their services on the web. Differentiating between the good ones and the brokers that are untrustworthy in some way is crucial, which is why regulation plays an important role in choosing a website to trade on.

The way the broker treats its customers is also important, as are the types of platforms on offer, the customer service, the fees, and so on. This is far from a small amount of information to keep track of as you research potential options, so we offer our assistance by introducing you to the following ten brokers.

The USD/CAD is one of the so-called major currency pairs. It expresses the exchange rate relationship between the US dollar and CA dollar, that is, how many Canadian dollars it takes to buy one American dollar.

The United States Federal Reserve and the Bank of Canada play a key role in how this pair is traded. Additionally, the Canadian dollar is known as a commodity currency due to the number of natural resources it exports. Knowing how to use this information will aid you in trading successfully. Apart from this, the broker a trader picks also has a great impact on one’s results because of the differences in the spreads and leverage across different brokers.

How Trading USD/CAD Works

The foreign exchange market is the largest of its kind, as its trading value is in the trillions. It is characterised by its high liquidity and volatility. If you wish to trade the USD/CAD, you can do so at any time of the day since the forex market as a whole does not close on a daily basis.

Trading is based on knowing how many Canadian dollars you need to purchase one USD, and the fluctuations of this value. Given its major status, pretty much all brokers on the web allow you to trade this pair on their platforms.

A peculiar aspect of the CAD and, in turn, the USD/CAD, is that it is very strongly affected by the global oil prices. As touched upon earlier, the Canadian dollar is a commodity currency. A large portion of its exports consists of oil, which means that the price fluctuations of oil strongly affect the value of the CAD and the country’s economy in general. In other words, when oil prices increase, so does the value of the Canadian dollar, which impacts the USD/CAD negatively. This is known as a commodity correlation.

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