Best Canadian Investment Regulatory Organization (CIRO) Regulated Brokers 2026

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Showing 2 of 2 matching brokers

Filters Order By ... Overall Rating Latest Trust & Regulation Banking & Accounts Assets & Markets Fees & Costs Platforms & Tools Research Education Customer Support iOS App Android App Most Clients

1. 1
   

   Interactive Brokers

   
   Interactive Brokers (IBKR) is a leading brokerage offering access to over 170 markets in 40 countries and a range of investment services. With 40+ years in the industry, this Nasdaq-listed company follows strict regulations by the SEC, FCA, CIRO, and SFC, making it a trusted global trading broker.

   Interactive Brokers Details

   Demo Account

   Yes

   Minimum Deposit

   $0

   Minimum Trade

   $100

   Leverage

   1:50 (major forex pairs), 1:2-1:4 (equities)

   Copy Trading

   No

   Regulator

   SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS

   Instruments

   Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies, CFDs Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies

   Platforms

   Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower

   Account Currencies

   USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF

   Automated Trading

   Capitalise.ai, TWS API

   AI

   Yes

   Guaranteed Stop Loss

   No
   Go to Interactive Brokers
2. 2
   

   Moomoo

   
   Moomoo is a regulated trading platform which is controlled by SEC. It provides a simple, cost-effective method to trade in stocks, ETFs, and various assets from China, Hong Kong, Singapore, the US, and Australia. They provide the option for margin trading, along with no deposit account and several bonus options.

   Moomoo Details

   Demo Account

   Yes

   Minimum Deposit

   $0

   Minimum Trade

   $0

   Leverage

   1:2

   Copy Trading

   No

   Regulator

   SEC, FINRA, SIPC, MAS, SFC, ASIC, FMA, CIRO, CIPF, JFSA, SC

   Instruments

   Stocks, Options, ETFs, ADRs, OTCs ,Futures

   Platforms

   Desktop Platform, Mobile App

   Account Currencies

   USD, HKD, SGD

   Automated Trading

   No

   AI

   No

   Guaranteed Stop Loss

   No
   Go to Moomoo

Compare the Best CIRO-Regulated Brokers

Broker		USD Account	Demo Account	Minimum Deposit	Minimum Trade	Leverage	Copy Trading	Regulator	Instruments	Platforms	Account Currencies	Automated Trading	AI	Guaranteed Stop Loss
		✓	✓	$0	$100	1:50 (major forex pairs), 1:2-1:4 (equities)	✗	SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS	Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies, CFDs Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies	Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower	USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF	Capitalise.ai, TWS API	✓	✗
		✓	✓	$0	$0	1:2	✗	SEC, FINRA, SIPC, MAS, SFC, ASIC, FMA, CIRO, CIPF, JFSA, SC	Stocks, Options, ETFs, ADRs, OTCs ,Futures	Desktop Platform, Mobile App	USD, HKD, SGD	✗	✗	✗
Broker		USD Account	Demo Account	Minimum Deposit	Minimum Trade	Leverage	Copy Trading	Regulator	Instruments	Platforms	Account Currencies	Automated Trading	AI	Guaranteed Stop Loss

Safety Comparison

Compare how safe the Best Canadian Investment Regulatory Organization (CIRO) Regulated Brokers 2026 are.

Broker	Trust Rating	Guaranteed Stop Loss	Negative Balance Protection	Segregated Accounts
	4.5	✗	✓	✓
	4.7	✗	✗	✓
Broker	Trust Rating	Guaranteed Stop Loss	Negative Balance Protection	Segregated Accounts

Mobile Trading Comparison

Compare the mobile trading features of the Best Canadian Investment Regulatory Organization (CIRO) Regulated Brokers 2026.

Broker	Mobile Apps	iOS Rating	Android Rating	Smart Watch App
	iOS & Android	4.3	4.5	✓
	Yes (iOS & Android)	4.6	3.3	✗
Broker	Mobile Apps	iOS Rating	Android Rating	Smart Watch App

Comparison for Beginners

Compare how suitable the Best Canadian Investment Regulatory Organization (CIRO) Regulated Brokers 2026 are for beginners.

Broker	Demo Account	Minimum Deposit	Minimum Trade	Education Rating	Support Rating	Fractional Shares	Demo Competitions
	✓	$0	$100	4.3	3.0	✓	✗
	✓	$0	$0	4.4	2.8	✗	✗
Broker	Demo Account	Minimum Deposit	Minimum Trade	Education Rating	Support Rating	Fractional Shares	Demo Competitions

Comparison for Advanced Traders

Compare how suitable the Best Canadian Investment Regulatory Organization (CIRO) Regulated Brokers 2026 are for advanced or professional traders.

Broker	Automated Trading	VPS	API	AI	Pro Account	Leverage	Low Latency	Extended Hours
	Capitalise.ai, TWS API	✗	✗	✓	✗	1:50 (major forex pairs), 1:2-1:4 (equities)	✓	✓
	✗	✗	✗	✗	✗	1:2	✗	✓
Broker	Automated Trading	VPS	API	AI	Pro Account	Leverage	Low Latency	Extended Hours

Accounts Comparison

Compare the trading accounts offered by Best Canadian Investment Regulatory Organization (CIRO) Regulated Brokers 2026.

Broker	Demo Account	Interest on Cash	Islamic Account	Joint Account	Managed Account	PAMM	MAM	LAMM	Pro Account
	✓	USD: 3.14%, GBP: 3.24%	✗	✓	✓	✗	✓	✗	✗
	✓	USD: 3.35%	✗	✗	✗	✗	✗	✗	✗
Broker	Demo Account	Interest on Cash	Islamic Account	Joint Account	Managed Account	PAMM	MAM	LAMM	Pro Account

Detailed Rating Comparison

Compare how we rated the Best Canadian Investment Regulatory Organization (CIRO) Regulated Brokers 2026 in key areas.

Broker	Trust	Platforms	Assets	Mobile	Fees	Accounts	Research	Education	Support
	4.5	3.3	4.7	4.4	4.3	3.5	4.4	4.3	3.0
	4.7	3.0	3.3	4.0	3.8	3.3	3.8	4.4	2.8
Broker	Trust	Platforms	Assets	Mobile	Fees	Accounts	Research	Education	Support

Fee and Cost Comparison

Compare the cost of trading with the Best Canadian Investment Regulatory Organization (CIRO) Regulated Brokers 2026.

Broker	Cost Rating	Fixed Spreads	Inactivity Fee	EUR/USD Spread	Crypto Spread
	4.3	✗	$0	0.08-0.20 bps x trade value	0.12%-0.18%
	3.8	✗	$0	✗	✗
Broker	Cost Rating	Fixed Spreads	Inactivity Fee	EUR/USD Spread	Crypto Spread

Broker Popularity

See how popular the Best Canadian Investment Regulatory Organization (CIRO) Regulated Brokers 2026 are in terms of number of clients.

Broker	Popularity
Moomoo	24,000,000
Interactive Brokers	4,300,000

Why Trade With Interactive Brokers?

Interactive Brokers is ideal for seasoned traders due to its robust charting platforms, updated data, and adaptability, especially with the IBKR Desktop application. Its exceptional pricing and advanced order features appeal to traders, and its variety of stocks remains unmatched in the market.

Christian Harris
Review Author

Pros

• IBKR offers exceptional access to global stocks, with thousands of equities available from over 100 market centers in 24 countries, including the recent addition of the Saudi Stock Exchange.
• Interactive Brokers was awarded 'Best US Broker' for 2025 by DayTrading.com for its dedication to US traders, ultra-low margin rates, and affordable global market access.
• IBKR is a highly regarded brokerage, regulated by prime authorities. This ensures the safety and reliability of your trading account.

Cons

• In 2025, IBKR was fined $11.8 million by the US OFAC for offering services in restricted areas. It also faced a $125,000 fine from FINRA in 2025 for failing to disclose municipal bond information.
• Only one active session per account is allowed, which means you can't run the desktop version and mobile app at the same time. This can sometimes lead to a frustrating trading experience.
• Customer service may take time to respond, and there may be delays in fixing problems based on tests. It could be difficult to reach the customer service promptly.

Go to Interactive Brokers

Why Trade With Moomoo?

Moomoo is a great option for beginner and intermediate traders aiming to diversify their investment portfolio. The brokerage's app is easily navigable and the trading fees are significantly low.

James Barra
Review Author

Pros

• The broker provides early access to trading hours before the market opens.
• Moomoo's insights and analytics are more comprehensive and detailed than other brands.
• Moomoo is a FINRA and SIPC member, providing additional security for potential clients interested in trading.

Cons

• The demo account is limited compared to live trading, lacking a desktop terminal, technical analysis tools, and after-hours trading, which may hinder traders from backtesting certain strategies.
• The protection against negative balance, a standard security measure at highly regulated brokers, is not available here.
• The account options are limited compared to similar brokerages, with no managed portfolios or robo-advisor solutions.

Go to Moomoo

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How We Chose The Top CIRO-Regulated Brokers

Our evaluation process involves these three things:

1. Checking the regulatory status of each brokerage in our expanding database. For CIRO-approved brokers, this involves confirming that each company claiming to have regulatory approval is included on the watchdog’s online database.
2. Regularly re-checking each broker’s inclusion on the database. This is because CIRO can and does revoke or suspend licenses in the event of misconduct. Furthermore, we also research to see if the firm has been subject to any investigations or sanctions.
3. Grading other non-regulatory factors such as the fees they charge, the range of tradeable securities on offer, and the quality of their trading platform. This mixes real-world testing with the hundreds of data points we collect per brokerage.

What Is CIRO?

The Canadian Investment Regulatory Organization (CIRO) is responsible for setting rules governing Canada’s financial markets and the conduct of investment firms and mutual fund providers.

CIRO also oversees the conduct of registered firms and investigates service providers when required, applying sanctions when misconduct has been proven. Under its three-year strategic plan launched in 2024, it described its role as “to promote healthy capital markets, so investors feel protected and confident investing for their futures.”

CIRO was established in 2023 through the merger of the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA).

Under BrokerListings.com’s Regulator Rating System, CIRO is considered a ‘Category A’ watchdog. This means traders and investors using a licensed brokerage can expect robust protections against fraud and bad business practices. They can also have confidence that Canada’s equity and debt markets operate in a fair, transparent and efficient way.

What Powers Does CIRO Have?

CIRO has wide-ranging powers to investigate individuals and firms when it suspects misconduct has occurred. It has a range of sanctions it can impose “to protect the public interest by deterring future conduct that may harm the capital markets.”

These include:

• Imposing financial penalties up to a maximum of CAD$5 million for each contravention, and an amount equal to three times the profit made or loss avoided by the respondent.
• Ordering the disgorgement of any illegally obtained gains to affected parties.
• Suspending member firms and individuals for any period of time.
• Permanently barring individuals from operating in the securities industry.

CIRO Actions Against Brokers

In May 2025, Canaccord admitted that it had “failed to act as a gatekeeper to the capital markets in relation to the trading activity in low-priced securities listed or traded over-the-counter in the US.”

For failing to prevent its platform being used for potentially unlawful practices, Canaccord agreed to pay:

• A CAD$600,000 financial penalty to CIRO.
• CAD$2.2 million in disgorgement.
• Costs of CAD$50,000.

In March 2026, PFSL Investments Canada admitted that:

• Its “internal supervisory controls did not detect that the email address used to collect electronic signatures was different from the email address held on file.”
• It had “failed to adequately query redemptions processed in the accounts of a client and investments made by two Approved Persons.”
• It had “failed to have policies and procedures that would prohibit Approved Persons from accepting appointments as powers of attorney and executors by clients that ensured compliance with the Mutual Fund Dealer Rules.”

PFSL agreed to pay a financial penalty of CAD$250,000 to CIRO and costs of $15,000. It also agreed to comply with Mutual Fund Dealer Rules as stated in the settlement agreement.

What Rules Must A CIRO Broker Follow?

Financial services providers in Canada must operate in accordance with a sweeping set of rules and regulations to first obtain – and then maintain – approval from CIRO.

These include requirements to:

• “Deal fairly, honestly and in good faith” with clients.
• “Collect adequate information to ensure they have a sufficient understanding of their clients to enable them to discharge their suitability determination obligations.”
• Obtain “the most advantageous execution terms reasonably available” for the client.
• “Disclose to the client any transaction charges” and any other fees or costs.
• Ensure that advertisements and business-related communications do not contain “any untrue statement or omission of a material fact or is otherwise false or misleading.”
• “Develop and maintain written policies and procedures relating to confidentiality and the protection of information held by it in respect of clients.”
• Ensure that “all securities of clients… are segregated.”
• “Take reasonable steps to identify existing material conflicts of interest” between the firm, individuals acting on its behalf and the client, and “must avoid any material conflict of interest.”
• Establish “policies and procedures [that] specifically address dealing effectively, fairly and expeditiously with complaints.”

Under CIRO rules, member firms must also be members of – and contribute to – the Canadian Investor Protection Fund (CIPF). Though the scheme doesn’t protect against market losses, it protects client funds if the broker becomes insolvent up to a maximum of CAD$1 million for all trading accounts combined.

How Can I Check That The Brokerage Is CIRO Approved?

Finding out a service provider’s regulatory status can be done quickly and simply using CIRO’s online directory.

Let’s say I wish to check the legal status of Interactive Brokers, which has been in operation since 1977. First I type the company’s name into the text box and hit ‘Apply.’

Source: CIRO

My search brings up one result: “Interactive Brokers Canada Inc.” The entry provides key information about the company, including its registered address, website, and the type of activity it’s approved to carry out.

Source: CIRO

CIRO also maintains a list of disciplinary actions it’s taken against individuals and companies, under its current guise as well as under its predecessor organization, the IIROC.

Source: CIRO

Pro tip for Canadians:

• You may also want a broker with a CAD account for a seamless trading experience.
• Check out our list of best brokers for Canadian traders, catered specifically to Canadian residents.

Bottom Line

Strict supervision and the threat of tough sanctions mean traders and investors can expect excellent levels of service from CIRO-approved brokers. Individuals can also be confident in the fairness, integrity and efficiency of Canada’s financial markets under the organization’s oversight.

The explosion of online fraud means it’s critical to be on guard against bad actors trying to steal your sensitive personal information and/or capital. Only use a broker that’s listed on CIRO’s online database of member firms.