At a wedding reception, usually the best man and the fathers of the bride and groom give the toasts. Sometimes, the maid or matron of honor and the bride and groom also give a toast.
Regardless of how formal or informal a wedding reception is, a longstanding tradition is a toast to the bride and groom. While etiquette dictates the best man gives the first toast, it is acceptable for any member of the wedding party to do so. After all members of the wedding party have spoken, sometimes the floor is opened up to guests so they can share their thoughts and best wishes for the happy couple.
At the wedding reception, the formal order for wedding toasts is best man, fathers of the bride and groom, maid or matron of honor and bride and groom. There are other wedding celebrations at which toasts are also made, and the order is different than at the reception. For example, at the engagement party, the father of the bride normally gives the first toast of the evening. After that, the groom's father or mother may choose to make a toast, as well as other family or friends of the couple. Since the rehearsal dinner is usually hosted by the groom's parents, his father gives the first toast. Usually, the father of the bride replies with a return toast.