# Interactive Brokers review (2026)

> Interactive Brokers is the best place to trade prediction markets in Canada if you're 21 or older and trade more than pocket change: it has the most markets, charges the least per contract on ForecastEx, converts currency for 0.2 basis points, and pays a 3.38% APY coupon on ForecastEx positions. The trade-offs are a US$2 minimum per currency conversion, thin trading in ForecastEx's Canadian markets, and platforms built for investors rather than beginners.

- URL: https://safebet.ai/ca/prediction-markets/interactive-brokers-review/
- Markdown version: https://safebet.ai/ca/prediction-markets/interactive-brokers-review/index.html.md
- Last updated: 2026-10-22 (re-checked when an operator changes its terms or a regulator or court acts)
- Author: SafeBet.ai Research Team (SafeBet.ai)
- SafeBet.ai score: 8.1/10
- Ranking: #1 of 2 in [Best prediction markets in Canada](https://safebet.ai/ca/prediction-markets/) — Best overall for fees and market choice
- Official website: https://www.interactivebrokers.ca/predictionmarkets/en/home.php
- Notice: General information, not investment advice. SafeBet.ai isn’t registered with any Canadian securities regulator, and we only link to the two CIRO dealers allowed to offer event contracts in Canada.
- Editorial policy and advertiser disclosure: https://safebet.ai/editorial-policy/

## Key facts

| | |
|---|---|
| Dealer | Interactive Brokers Canada Inc., a CIRO-regulated investment dealer and CIPF member, registered in all provinces |
| Approved for event contracts | The first CIRO dealer to offer them; launched April 1, 2025 |
| Exchanges | ForecastEx LLC (a CFTC-regulated exchange and clearinghouse owned by Interactive Brokers) and Kalshi |
| Markets | 482 on IBKR's Canadian site on October 22, 2026: 223 economic, 157 financial and 102 environmental; 334 on ForecastEx, 148 on Kalshi (11 on both) |
| What you can't trade | Sports, entertainment, elections and political events, and contracts with less than 30 days to maturity when listed (CIRO's conditions) |
| Trading fees | ForecastEx: no commission plus a US$0.01 exchange fee per contract. Kalshi markets: US$0.02 per contract. |
| Interest | 3.38% APY incentive coupon on the market value of ForecastEx positions, accrued daily and paid monthly; the rate can change |
| Currency | Contracts in US dollars (US$0.01–0.99, paying US$1). Conversion: 0.20 basis points of the amount, at least US$2.00 per conversion. |
| Deposits | EFT (free; a first deposit is tradable after 5 business days), bank wire, online bill payment. No account minimum. |
| Minimum age | 21+ for event contracts |
| Apps | IBKR Prediction Markets on the web, IBKR Mobile (4.5/5 from 4,709 ratings in Canada's App Store, October 22, 2026), IBKR Desktop and Trader Workstation |

## Scores

- Regulation & safety (25%): 9.0/10
- Markets & features (20%): 8.0/10
- Fees & pricing (20%): 8.5/10
- Liquidity (15%): 7.0/10
- Deposits & withdrawals (10%): 7.0/10
- App & experience (10%): 7.5/10

## Pros

- The lowest trading fee in Canada: no commission and US$0.01 per contract on ForecastEx
- A 3.38% APY coupon on ForecastEx positions, paid monthly
- The widest choice: 482 markets on two exchanges, ForecastEx and Kalshi
- Currency conversion at 0.2 basis points, far cheaper than a percentage fee on larger amounts
- Web, mobile and desktop platforms; IBKR Mobile is rated 4.5/5
- The first dealer approved, in April 2025, backed by a listed broker with 5.58 million accounts worldwide

## Cons

- You must be 21 or older to trade event contracts
- ForecastEx's Canadian markets trade thinly: 477 matched pairs in its Bank of Canada market in 30 days
- A US$2 minimum per currency conversion makes small conversions expensive
- Kalshi markets cost US$0.02 per contract, the same as Wealthsimple
- Built for investors: you request a trading permission and learn a complex platform

## What is Interactive Brokers' prediction market in Canada?

Interactive Brokers Canada was the first investment dealer allowed to offer event contracts to Canadians. It launched them on April 1, 2025, through ForecastTrader, the prediction-market platform of its US parent, now branded IBKR Prediction Markets. An event contract is a yes/no contract on a measurable outcome, such as whether the Bank of Canada cuts its rate or whether US inflation tops a threshold. It costs between US$0.01 and US$0.99 and pays US$1 if you're right.

Most of the markets trade on ForecastEx, the exchange and clearinghouse Interactive Brokers owns, which the US Commodity Futures Trading Commission (CFTC) regulates. Its Canadian site now also lists markets on Kalshi, the largest US prediction exchange. You trade through your Interactive Brokers Canada account, after asking for the forecast and event contracts trading permission.

## Is it legal in Canada?

Yes. Interactive Brokers Canada is an investment dealer regulated by the Canadian Investment Regulatory Organization (CIRO), and CIRO's dealer directory lists it as authorized to offer event contracts. It deals under conditions CIRO set with the Canadian Securities Administrators and published in Bulletin 26-0076 on March 26, 2026, then tightened in Bulletin 26-0215 on October 16, 2026:

- only economic, environmental and financial indicator contracts, settled on objective, independently verifiable data;
- at least 30 days to maturity when a contract is listed;
- no contracts on sports, entertainment, elections, political events or unlawful activities;
- no leverage or margin.

The October bulletin also bars dealers from displaying contracts Canadians can't trade, including through links to other sites. When we looked on October 22, 2026, the public market list on IBKR's Canadian site still showed a few markets that seem to fall outside those categories, such as one on when Anthropic will announce an IPO. We couldn't check whether a Canadian account can trade them. Our guide to [whether prediction markets are legal in Canada](https://safebet.ai/ca/prediction-markets/are-prediction-markets-legal/) explains the rules in full.

## What can you trade?

On October 22, 2026, IBKR's Canadian site listed 482 markets: 223 on economic indicators, 157 on financial markets and 102 on the environment. 334 trade only on ForecastEx, 137 only on Kalshi and 11 on both. A market can hold many contracts at different thresholds; the site counted 12,038 in total.

Canadian examples include ForecastEx markets on the Bank of Canada's rate decision, Canadian CPI and the unemployment rate. US data dominate, though: the Federal Reserve's decisions, US inflation, gas prices, stock indexes, Bitcoin's price and global temperature records. Elections, sports and entertainment aren't available, and neither are CME's contracts, which IBKR offers in other countries.

### The interest coupon

ForecastEx pays an incentive coupon on the market value of your positions, accrued daily and paid monthly, whether you hold Yes or No. IBKR's Canadian page listed it at 3.38% APY on October 22, 2026, and says the rate can change. Kalshi positions don't earn it.

## Fees and currency conversion

| Cost | Interactive Brokers |
|---|---|
| ForecastEx contracts | No commission, plus a US$0.01 exchange fee per contract on every purchase |
| Kalshi contracts | US$0.02 per contract |
| Closing a ForecastEx position | Buy the opposite side: another US$0.01 per contract |
| Currency conversion | 0.20 basis points of the amount, at least US$2.00 per conversion |
| Account minimum, inactivity fee | None |

On ForecastEx, US$0.01 per contract is the lowest fee available in Canada, half of Wealthsimple Predict's US$0.02. You don't sell a ForecastEx contract; you buy the opposite side, which costs another cent and locks in the US$1 payout at settlement.

The currency conversion is where the size of your trade matters. IBKR's rate is tiny in percentage terms, but the US$2 minimum applies to each conversion. Convert $1,000 at a time and the conversion costs about $2.80, or 0.28%; convert the price of a $70 order and the same $2.80 is 4%. Wealthsimple's 1.5% is cheaper for any conversion under about US$133. Our [fee calculator](https://safebet.ai/ca/prediction-markets/fee-calculator/) works through both cases in Canadian dollars.

## Deposits and withdrawals

There's no minimum deposit. From a Canadian bank you can fund the account by EFT, which is free but makes a first deposit tradable only after 5 business days, by bank wire, which can arrive in a business day but usually costs your bank's fee, or by online bill payment, which takes 1 to 6 business days. The account holds Canadian and US dollars side by side, so you can convert once and trade many times. Event contracts are held in a regular taxable account; we found no sign you can hold them in a TFSA or RRSP.

## App and experience

You trade on the web at IBKR Prediction Markets, in IBKR Mobile, in IBKR Desktop or in Trader Workstation, with markets open around the clock apart from maintenance windows. IBKR Mobile was rated 4.5 out of 5 from 4,709 ratings in Canada's App Store on October 22, 2026, though that rating covers the whole investing app, not just prediction markets.

The platforms are powerful but built for investors. You have to request the forecast and event contracts permission in your account settings and acknowledge the risk disclosures before you can trade, and approval usually takes a day or two. If you've never used an IBKR platform, expect a learning curve.

## Liquidity

Liquidity depends on which exchange a market trades on. Kalshi's markets are deep: on October 22, 2026, IBKR's own market data showed open interest of 205,284 in Kalshi's Bank of Canada rate market, against 399 in ForecastEx's. By our tally of ForecastEx's daily data, only 477 matched Yes/No pairs traded in its Bank of Canada decision market and 1,010 in Canadian CPI between September 22 and October 21, 2026, while most of ForecastEx's volume came from daily weather and price contracts that Canadians can't trade under the 30-day rule. In a thin market, the gap between the buy and sell price can cost more than the fee.

## Safety and support

Interactive Brokers Canada is a CIRO-regulated dealer and a member of the Canadian Investor Protection Fund (CIPF), which covers eligible client property up to $1 million if a member firm becomes insolvent. We couldn't confirm how CIPF treats forecast-contract positions, which clear in the US. The parent company, Interactive Brokers Group, is listed on Nasdaq and reported 5.58 million client accounts at the end of September 2026. IBKR Canada is order-execution only: it gives no advice on what to trade.

## Who is it best for?

Interactive Brokers suits Canadians who are 21 or older, trade economic and market data seriously, and convert a few hundred dollars or more at a time. It's also the natural choice if you already invest at IBKR. If you're 18 to 20, trade small amounts or want an app that holds your hand, [Wealthsimple Predict](https://safebet.ai/ca/prediction-markets/wealthsimple-predict-review/) is the other legal option; our [head-to-head comparison](https://safebet.ai/ca/prediction-markets/interactive-brokers-vs-wealthsimple-predict/) goes through the differences.

## Our verdict

Interactive Brokers is the best prediction market in Canada for experienced traders: the most markets, the lowest per-contract fee on ForecastEx, cheap conversions on larger amounts, and a coupon on your positions, from the first dealer regulators approved. It loses points for the 21+ age limit, thin ForecastEx order books in Canadian markets, the US$2 conversion minimum and platforms that take time to learn.

## How Interactive Brokers compares

| # | Prediction market | Score | Regulation | Exchange | Markets | Trading fee | Currency conversion | Deposits | Apps | Min. age |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | [Interactive Brokers](https://safebet.ai/ca/prediction-markets/interactive-brokers-review/) | 8.1/10 | CIRO dealer · CIPF member | ForecastEx and Kalshi | 482 markets: economics, finance, climate | 1¢/contract on ForecastEx; 2¢ on Kalshi | 0.2 basis points, min. US$2 per conversion | EFT, wire, online bill payment | Web, IBKR Mobile, Desktop, TWS | 21+ |
| 2 | [Wealthsimple Predict](https://safebet.ai/ca/prediction-markets/wealthsimple-predict-review/) | 7.6/10 | CIRO dealer · CIPF member | Kalshi | Thousands of contracts: economics, finance, climate | 2¢/contract on every buy and sell | 1.5% under $10,000 (less on larger amounts) | Interac e-Transfer, linked bank, Wealthsimple transfers | iOS and Android only | Age of majority (18 or 19) |

See the [best Interactive Brokers alternatives](https://safebet.ai/ca/prediction-markets/interactive-brokers-alternatives/).

## Frequently asked questions

### Can Canadians trade prediction markets on Interactive Brokers?

Yes. Interactive Brokers Canada was the first CIRO dealer allowed to offer event contracts, in April 2025. You need an IBKR Canada account, the forecast and event contracts trading permission, and to be 21 or older. You can trade economic, financial and climate contracts on ForecastEx and Kalshi, but not sports, entertainment or elections.

### What does Interactive Brokers charge for prediction markets in Canada?

On ForecastEx, no commission and a US$0.01 exchange fee per contract, charged on every purchase. Kalshi markets cost US$0.02 per contract. Converting Canadian dollars costs 0.20 basis points of the amount, at least US$2.00 per conversion. Our [fee calculator](https://safebet.ai/ca/prediction-markets/fee-calculator/) works out an order in Canadian dollars.

### Does Interactive Brokers pay interest on prediction market positions in Canada?

On ForecastEx positions, yes: an incentive coupon of 3.38% APY on their market value, accrued daily and paid monthly, which IBKR advertises on its Canadian site. The rate can change, and Kalshi positions don't earn it.

### Why do I have to be 21 to trade event contracts at IBKR?

It's Interactive Brokers' own requirement for event contracts, stated on its Canadian prediction markets page. Wealthsimple Predict only requires the age of majority in your province, 18 or 19, so it's the legal option for 18- to 20-year-olds.

### How do I close a ForecastEx position early?

You buy the opposite side: if you hold Yes, you buy No. That costs another US$0.01 per contract, and holding both sides locks in the US$1 payout at settlement.

### Can I hold IBKR prediction markets in a TFSA or RRSP?

We found no sign that you can. Event and forecast contracts aren't on IBKR Canada's lists of investments allowed in registered accounts, so plan on a regular taxable account.

## Sources

1. [Interactive Brokers launches Forecast Contracts in Canada (press release)](https://www.interactivebrokers.com/en/general/about/mediaRelations/4-1-25.php) — Interactive Brokers, 2025-04-01
2. [Interactive Brokers Canada is the first CIRO dealer to offer forecast contracts by ForecastEx LLC](https://www.blg.com/en/insights/2025/04/interactive-brokers-canada-is-the-first-ciro-dealer-to-offer-forecast-contracts-by-forecastex-llc) — Borden Ladner Gervais, 2025-04-02
3. [Administrative Bulletin 26-0076: Application of CIRO Requirements to Event Contracts](https://www.ciro.ca/newsroom/publications/application-ciro-requirements-event-contracts) — Canadian Investment Regulatory Organization, 2026-03-26
4. [Administrative Bulletin 26-0215: Update to CIRO Requirements Regarding Event Contracts](https://www.ciro.ca/newsroom/publications/update-ciro-requirements-regarding-event-contracts) — Canadian Investment Regulatory Organization, 2026-10-16
5. [Interactive Brokers Canada Inc. (dealers we regulate)](https://www.ciro.ca/investors/choosing-investment-advisor/dealers-we-regulate/interactive-brokers-canada-inc) — Canadian Investment Regulatory Organization, accessed 2026-10-22
6. [IBKR Prediction Markets (Canada)](https://www.interactivebrokers.ca/predictionmarkets/en/home.php) — Interactive Brokers Canada, accessed 2026-10-22
7. [Commissions: event contracts](https://www.interactivebrokers.ca/en/pricing/commissions-events.php) — Interactive Brokers Canada, accessed 2026-10-22
8. [ForecastEx fee schedule](https://forecastex-public-data.s3.amazonaws.com/regulatory/ForecastEx_Fee_Schedule.pdf) — ForecastEx, 2026-05-07
9. [Commissions: spot currencies](https://www.interactivebrokers.ca/en/pricing/commissions-spot-currencies.php) — Interactive Brokers Canada, accessed 2026-10-22
10. [Fund my account](https://www.interactivebrokers.ca/en/support/fund-my-account.php) — Interactive Brokers Canada, accessed 2026-10-22
11. [Required minimums](https://www.interactivebrokers.ca/en/accounts/required-minimums.php) — Interactive Brokers Canada, accessed 2026-10-22
12. [Prediction Markets at Interactive Brokers](https://www.interactivebrokers.com/campus/trading-lessons/prediction-markets-at-interactive-brokers/) — IBKR Campus, accessed 2026-10-22
13. [Canadian regulators are opening the doors to prediction markets](https://www.investmentexecutive.com/news/product/canadian-regulators-are-opening-the-doors-to-prediction-markets/) — Investment Executive, 2026-04-08
14. [Trading on prediction markets from Canada? Mind the fees](https://www.theglobeandmail.com/investing/personal-finance/article-trading-on-prediction-markets-from-canada-mind-the-fees/) — The Globe and Mail, 2026-10-19
15. [ForecastEx market data (daily summaries)](https://forecastex.com/data) — ForecastEx, 2026-09-22 to 2026-10-21
16. [Third quarter 2026 results](https://www.interactivebrokers.com/mkt/getFileNew.php?file=latestEarningsPR) — Interactive Brokers Group, 2026-10-15