Quick checker
The 6 brokers we have reviewed
All are authorized by CIRO and members of the CIPF. Click to read our detailed analysis.
Warning signs of a fraudulent broker
- Promises of guaranteed or very high returns, with no mention of the risk of loss.
- No verifiable CIRO registration for a broker soliciting Canadian residents.
- Pressure to deposit quickly, or to deposit more in order to “unlock” gains.
- Withdrawals systematically blocked or delayed, unexpected fees demanded before any withdrawal.
- A website that imitates the identity of a real regulated broker (name, logo or address close to the original).
- Unsolicited calls, social media messages or aggressive solicitation.
What to do if you suspect fraud
- 1.Immediately stop any transfer of money to the platform.
- 2.Gather evidence: emails, bank statements, screenshots, names and phone numbers of the people you dealt with.
- 3.Report the situation to CIRO, which oversees investment dealers in Canada (ciro.ca, 1-877-442-4322).
- 4.Also report it to your provincial regulator: the securities commission of your province or territory (for example the Ontario Securities Commission or the British Columbia Securities Commission), or the Autorité des marchés financiers (AMF) in Quebec.
- 5.Report the fraud to the Canadian Anti-Fraud Centre at 1-888-495-8501 or online, as well as to your local police.
Official resources
Compare the brokers authorized in Canada
Fees, platforms, regulation and instruments, side by side.