Can't say 100 % for sure since I haven't looked it up for FTMs, but MTF SRS is entirely covered by the public insurance for any diagnosed citizen, I'm pretty sure, and if an MTF has no or little breasts (they have a number of cm³ below which they cover it) after a certain period of proper HRT, they even cover breast augmentation, even though the waiting time is relatively long. And I promise such a thing is far, far from covered over here, even though Québec was once -the- North American model for having a public health system.
In light of this, I think I can say it's highly likely that they cover FTM top surgery, and at the very least the sterilizing surgery (forgot the name) for the bottom, and probably more advanced options too.
British Columbia is even the only province I know that publishes complete treatment guidelines for transsexuals, with doses and everything. Which tends to tell me it's probably the most "advanced" province in the matter. Financially, at least. In practice, I think they don't have much expertise, and I'm not sure they even have a surgeon, in trans oriented surgeries. I think, for example, they'll cover SRS, but send people to Montréal for it.
Generally speaking, for any health system question at all, the chances that you're better off in the US than in Canada are always pretty slim (even though it does happen; for example the state of New York(?) has basic public coverage for some limited dentist treatments for every citizen, but here in Québec, Canada, only super mega poor people on welfare get anything at all).
I can't find it (but to be honest with you I'm too tired/lazy to seriously look), but if you look around, you can probably find a document (PDF I believe) that details precisely what is and what is not covered by the public health systems of every Canadian province. Not sure how recent it is, but I think it's at least decently reliable information.
If you find it, please give me a link to it; I forgot its contents and I'm curious. Maybe it even got updated.