11/1/ · TMGM Is The Best Forex Broker For Canadian Traders. As a broker, TMGM has a number of things going for it, none more so than its MetaTrader 4 offering for Forex trading. 5/10/ · To find the best forex brokers in Canada, we created a list of all IIROC authorised firms, then ranked brokers by their Overall ranking. Here is our list of the top Canadian forex FxPro. At FxPro we pride ourselves on offering fully transparent quality execution, alongside some of the best trading conditions in the industry. With 15+ years of excellence and innovation, we Traderbizz reviews and compares stock, forex and cryptocurrency trading services to identify the best trading products online. Best Forex Trading Platforms Canada TraderBizz 14/11/ · Trading Station is a proprietary forex and CFD trading platform offered by Friedberg Direct, with FXCM, which features powerful analytical tools for chart traders, ... read more
The web version is designed with simplicity, speed and reliability regardless of which browser type you prefer. The key benefits of this trading platform are over 70 technical indicators and 50 drawing tools.
To trade using Forex. Typical of a Standard Account, there are no commission fees with spreads as low as 0. To help you get started, Forex. com has Market Strategists who provide you with one-on-one personalised market guidance including: demonstrations of their advanced charting and trading tools, technical and fundamental analysis and ongoing support to help ensure your trading strategy meets your trading goals.
A rebate program is available for high-volume traders. When you sign up with Forex. The broker also offers a Direct Market Access DMA Trading Account for those seeking maximum transparency, control and market depth. This gives you the benefit of accessing multiple levels of liquidity from top-tier providers.
While the DMA account is available for Canadian clients, it is tied to FOREX. View Forex. Another benefit is that the mobile and tablet apps share the same functionality as the browser-based trading platform. Some nifty features the app comes with are technical overlays and indicators, vertical pinch-to-zoom functionality and additional chart types.
The features have also been designed to allow traders to analyse technical data on currencies, derivative instruments and other variables anywhere they roam. Another highly beneficial feature the app has is the option of a guaranteed stop loss, meaning you can set an exact price when you will get out of a trade if the market goes too far against you.
This will protect you from slippage and any further potential losses due to unforeseen market volatility. In addition to the technical tools, the app can also be used to receive up-to-date mobile alerts on market sentiment, news and price signal notifications.
The two account types Canadian investors have available are either a Standard Account or a Premium Account. You will still need to meet margin requirements by having sufficient funds in your trading account as a Canadian trader. This means you can enter the exact amount you want to trade. Like OANDA, CMC Markets offers its own in-house trading platform, called CMC Next Generation.
This platform won the best mobile trading app for While the powerful charting is a massive plus, with mobile optimised charts, 35 technical analysis indicators and customisable dashboards, the research tools are where the Next Generation mobile app really stands out. These include in-house staff research updates, CMC TV, useful webinars and 23 trading strategy videos that are all invaluable to any trader. There are also risk management tools such as real-time alerts, advanced orders including guaranteed stop losses and a real-time market calendar.
Like OANDA, the mobile app has a similar feel to that of its web counterpart, while also being cleanly designed and easy to use. This is best showcased by the ability to create and customise your own layout, to add a nice, personal touch.
There are no commissions when trading CFDs with the exception of shares with CMC Markets. Minimum spreads published in Feb include: Forex Trading spreads from 0. Please bear in mind, you may incur additional trading costs with CMC Markets such as holding costs, market data fees, guaranteed stop-loss charges and an inactivity fee monthly fee. Eightcap is a renowned Australian multi-asset broker, combining tight spreads, quick execution and a suite of useful third-party plugins.
Where Eightcap stands out, however, is in its cryptocurrency offering, making it our top crypto broker for mobile traders. This is due to Eightcap using an offshore regulator, SCB in the Bahamas, for Canadian clients, rather than IIROC, which places restrictions on crypto trading. As a result, Eightcap can offer a comprehensive crypto products, more than any broker on this list.
These platforms are versatile apps that can be used for algorithmic and copy trading and are available via the Apple or Play store for Android. The MetaTrader apps are still the most popular trading platforms globally, particularly for the Forex market. While MT5 offers more as a platform, both mobile apps have similar features, as highlighted below. Eightcap offers two main account types for Forex trading: Standard spread-based and Raw commission-based.
You can use both MT4 and MT5 apps with either account, while TradingView is only available with the Standard account. Lastly, you can fund your account using Tether USDT or BitCoin BTC cryptocurrency, a unique benefit for an online broker. Eightcap has competitive spreads compared with other brokers in the forex space for commission-based accounts, as highlighted in the module below. spreads are taken from each broker's website and updated monthly. You can even cross-pair these 20 cryptos against Bitcoin.
To access to the entire range of cryptos Eightcap offers, you will need to use MetaTrader 5 E. AUD and CAD. In addition to their mobile apps, Eightcap offers both MetaTrader platforms for desktop and web trading. The broker also offers TradingView, a charting package, as well as a range of additional copy and algorithmic platforms to enhance your overall trading experience.
MT5 also has additional trading tools, better suited to CFD trading. For better technical analysis and additional charting tools, TradingView is a useful platform that has over technical and 50 analytical indicators to assist with your trading strategies.
Crypto-enhancement platform, CryptoCrusher has unique crypto tools including order customisation, market trend analysis, exclusive indicators and a hour chat room to discuss your trades.
The Amazing Trader, on the other hand, is a charting algorithmic platform for FX, indices, cryptos and metals. The platform also comes with an in-built risk management tool, that you can toggle on and off at your discretion. Country regulations are important to consider for any broker reviews. In Canada, there are 15 organizations that oversee the Foreign Exchange market. The most important regulatory body is the Investment Industry Regulatory Organization of Canada IIROC , which all Canadian brokers are regulated by.
Another top authority is The Canadian Securities Administrators CSA , which covers all of the 10 provinces and 3 territories of Canada, specifically covering the capital markets.
The other 13 regulatory bodies are territorial, such as the Ontario Securities Commission and British Columbia Securities Commission. Client protection is of utmost importance when it comes to Forex market regulation and all major regulatory bodies, including FCA in the UK, ASIC in Australia and CySEC in Cyprus, adhere to this principle. IIROC is no different, with a system aimed to protect clients against broker insolvency.
There are also provinces where some brokers will not accept clients from, because of specific financial regulations in those regions, including Ontario and Alberta. As part of this page, we have included brokers that accept clients that are accept canadian clients but are not regulated by IIROC. This is because clients that live in Canada but are not residents and there are many unlike canadian residents are not bound by the requirement to trade with an IIROC regulator.
As always we only recommend regulated brokers and encourage you to choose an IIROC broker if you are a Canadian resident. The Canadian Investor Protection Fund CIPF is another body that protects retail investors against bankruptcy and is a NFP corporation. It does this by safeguarding client accounts held by IIROC-regulated investment intermediaries, within certain limits. Lastly, who the broker is regulated by can also impact trading factors that are considered high risk, the best example of which is maximum leverage available.
Additionally, it's worth exploring whether or not your chosen trading platform offers ready-made investment portfolios or robo advisor services - especially if you have little to no experience in this marketplace. Understanding what fees your chosen trading platform charges can be challenging.
As we discussed earlier, fees can vary wildly depending on your chosen asset class and account type. As fees are super important when choosing a trading platform in Canada, below we elaborate on what to look out for before taking the plunge. When you buy, sell, or trade an asset - there is every likelihood that you will need to pay a fee. In the vast majority of cases, buying traditional assets like stocks, ETFs, or mutual funds come with a flat fee.
On the other hand, if you plan to trade CFDs or forex via a short-term strategy, you will likely be charged a variable commission. For example, one of the trading platforms in Canada that we came across charges 0. Be careful to keep an eye on minimum commissions , though. We found that the best trading platform in Canada for low fees is AvaTrade.
This popular provider charges no commission at all, and spreads are very competitive. Spreads are often overlooked by newbie traders in Canada, as it's not a 'direct fee' per-say. On the contrary, the spread is the difference between the buy and sell price of each asset available on the trading platform. In the case of forex, this is expressed in terms of 'pips'. For example, AvaTrade offers spreads of less than pips on most of its major forex pairs.
In other cases, the trading platform will express the spread in percentage terms. For example, if the spread on a stock CFD is 0. We find that the best trading online brokers Canada are transparent on what spreads they charge. If not, you'd need to calculate this yourself every time you trade - which is nothing short of cumbersome.
There are several other trading fees that you might be exposed to at your chosen investment platform. The best online trading platforms Canada that we came across during the review process offer a number of notable trading tools and features. If you have limited access to trading capital, it might be worth using a trading platform that offers leverage.
In-line with domestic regulations, the likes of AvaTrade and Oanda allow you to trade forex with leverage of up to If trading other asset classes, your leverage limits will be lowered.
For example, Oanda offers a maximum of on silver and on the Hong Kong index. With that said, if you're classed as a professional client, you'll likely be able to get much higher leverage limits at your chosen trading platform. Some of the best trading platforms in Canada offer support for third-party platform MT4.
This comes with several benefits - such as having access to advanced charting tools and technical indicators. Perhaps even more notable is the fact that MT4 allows you to install an automated trading robot.
Once installed, the robot will trade on your behalf in a fully automated manner. If you're looking to invest in stocks but you don't want to risk large amounts of capital, stick with a trading platform that offers fractional shares. In simple terms, this means that your chosen platform will allow you to buy a 'fraction' of one share. The best thing about trading platforms in Canada that offer fractional shares is that you will be still be entitled to dividends. Research tools are crucial in making solid and rational trading decisions.
This usually comes in two forms - technical analysis and fundamental research. Regarding the former, if you're planning to day trade or swing trade, then you'll want to choose a provider that gives you access to real-time pricing charts. The best brokers in Canada that we came across offer dozens of technical indicators, drawing tools, and customizable time-frames. In the case of fundamental research, we like trading platforms that offer market insights and real-time news.
If you're planning to invest in stocks, then opt for a trading platform that provides company reports and screeners. If you're a complete newbie and you're looking to invest for the first time - stick with a provider that offers educational tools. One of the best trading platforms Canada that we came across for this purpose is Oanda. The provider offers an extensive educational department that walks you through the basics of price charts, pips, and order types.
Oanda also offers guidance and tips on learning technical and fundamental analysis, as well as assistance on capital management and preservation. Demo accounts are a crucial tool to have your disposal - irrespective of your skillset. For example, seasoned traders swear by demo accounts as they allow them to try out new strategies without needing to risk any capital.
After all, the financial markets are ever-evolving, so experienced traders are always looking at new ways to stay ahead of the curve. With that said, demo accounts offered by the best onlline trading platforms Canada are especially useful for newbies. This will not only allow you to test out the user experience of the platform but to get to grips with how online trading works.
AvaTrade, for example, offers a demo account that mirrors live market conditions. It's important that you choose an investment provider that is easy on the eye. By this, we mean that the end-to-end user experience should be suitable for your respective skill set.
For example, if you're a newbie, the process of opening an account, depositing funds, and finding your preferred market should be simple. At the other end of the spectrum, we found that platforms like Interactive Brokers are best suited for those with more experience in the trading scene.
In other words, if you're a beginner, you might find the platform a bit overwhelming - purely because it packed with advanced tools and features. The overall user experience is not only applicable to the main platform website. On the contrary, if you're planning to trade via the platform's mobile app - you need to ensure that offers good functionality.
By this, we mean that the app should be fully optimized for your operating system and the trading experience should not be hindered by a smaller screen. In your search for the best trading platform Canada, it's important that you consider how you plan on depositing funds. After all, in order to trade with real money, you will first need to fund your account.
The best brokers Canada allow you to deposit funds instantly with a debit or credit card. When you get around to cashing out, the funds can be withdrawn to the same payment card. A lot of trading platforms in Canada only supported domestic bank transfers, which can be cumbersome. This is because you will need to manually transfer the funds from your online banking platform and then wait several days for the cash to arrive. In a time not so long ago, customer service in the online trading space was limited to a support form or email.
This is still the case with some providers. However, the best online trading platforms Canada will offer a live chat facility. This allows you to speak with an advisor in real-time - directly through the provider's website or mobile app. If your chosen trading platform is physically based in Canada, then you will likely have access to a local toll number.
You should now have all of the information required to find the best trading platform in Canada for your needs. If so, it's now time to get the ball rolling by opening an account with the provider in question. If this is your first time trading online, we are going to walk you through the process with our top-rated platform - AvaTrade. Head over to the AvaTrade website and click on the 'Register' button. You will then be redirected to the Friedberg Direct website to complete the account opening process.
As you will see after being redirected, there are a few requirements to be able to open an account with AvaTrade via Friedberg Direct. An additional part of the rigorous account opening process is to upload some verification documents. Once again, this is a requirement of the IIROC and it keeps you and your fellow investors safe from financial crime.
The former is optimal, as it should be processed and credited to your account instantly. At this stage of the walkthrough, you should now have a registered account that is funded. If so, you are ready to start trading! But first, you need to decide which trading platform you wish to use on AvaTrade. If you want to keep things simple, you can trade directly from the AvaTrade website.
This means that there is no requirement to download any software. You can also trade via the AvaTrade app. Alternatively, if you want to trade via MT4, proceed to download the software to your desktop device. Then, it's just a case of logging into MT4 with your AvaTrade account details.
This is simple to complete and means heading over to the IIROC official website , and checking the IIROC Register there using the company name. You will have to pay capital gains tax on any profits in this respect. Your email address will not be published. Check our help guide for more info. Broker Search Comparison eToro vs Plus eToro vs Trading IC Markets vs Pepperstone Plus vs Trading IG vs Plus eToro vs XTB AvaTrade vs IG IG vs XTB eToro vs IG FBS vs OctaFx IG vs Pepperstone HotForex vs XM.
Admirals AvaTrade Axi Degiro easyMarkets eToro FBS FP Markets FXCM FxPro HotForex HYCM IC Markets IG OctaFx Pepperstone Vantage XM XTB ZuluTrade. ASIC CYSEC FCA IIROC MAS Australia Canada Malaysia USA UK cTrader MT4 MT5 Copy Trading Social Trading ECN Fixed Spread High Leverage Low Spread Market Maker Algo Trading Carry Trading Hedging Scalping Spread Betting.
MT4 MT5 eToro Plus IC Markets OctaFx FxPro AvaTrade eToro XM eToro ZuluTrade Darwinex Trading Plus eToro Pepperstone XM AvaTrade OctaFx eToro Pepperstone XM ZuluTrade Degiro. Broker Search Comparison Reviews Best Guides Compare List. Compare List. MINIMUM DEPOSIT. Best Forex Brokers in Canada for Filippo Ucchino Last Updated: September 20 Min Read.
Return To Top. About The Author Filippo Ucchino Co-Founder - CEO - Broker Expert. Filippo is the co-founder and CEO of InvestinGoal. He has 15 years of experience in the financial sector and forex in particular.
He started his career as a forex trader in and then became interested in the whole fintech and crypto sector. Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
Best Forex Brokers in Canada for Related Top October 11 Min Read. October 6 Min Read. November 10 Min Read. Leave a Reply Your email address will not be published. Better Informed Find and Compare The Best Online Broker For You Help Me Chooose Use Advanced Search. Trading CFDs, FX, and cryptocurrencies involves a high degree of risk.
All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only.
It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
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See our selection of the best forex trading platforms in Canada and choose the one that is right for you. Ultra-competitive pricing, Raw spreads, high liquidity, flexible leverage. Free education to sharpen your skills. Forex, Share CFD, Indices, Commodities, Oil, Precious Metals, Cryptocurrency CFDs, CFDs. It is important to consider whether an online broker is appropriate for your investment profile and caters to your needs.
Make sure you understand their commissions and fees, particularly for investing products you wish to purchase Carefully consider the platform and technology offered by the broker.
Ensure that the broker provides a quality platform and technology. If you just want to invest a few dollars over a long period of time, does a simple, easy-to-use platform suffice, or are you looking for a more sophisticated one? Can you have the tools you need to succeed in the fast-paced world of active trading?
Trade execution is merely one aspect of what a good broker provides. Choose a broker who can assist you in your decision-making Research and education materials to assist in your development as an investor. Take into account how much customer support the company offers as well Having access to them feels comfortable to you. A live agent is available by chat and phone 24 hours a day, 7 days a week at some brokers, while others do not. Support is only available by email. Furthermore, many leading brokers offer bonuses based on your account size.
Initially depositing money. Deposits of hundreds to thousands of dollars can be made for large deposits. Check out our knowledge section to learn more. Best Forex Trading Platforms Canada See our selection of the best forex trading platforms in Canada and choose the one that is right for you.
21/9/ · BitBuy – Best Platform to Buy Bitcoin in Canada. Oanda – Best Trading Platform Canada for Leverage and Low Spreads. Qtrade – Best Broker Canada for Long-Term Traderbizz reviews and compares stock, forex and cryptocurrency trading services to identify the best trading products online. Best Forex Trading Platforms Canada TraderBizz blogger.com: best for the overall trading experience. Vantage: best for day traders. FXCM: best service quality. Oanda: best for beginners. EasyMarkets: great trading flexibility. OctaFX: best 14/11/ · Questrade global is a multifunctional and easy-to-use dedicated forex trading platform. Questrade global is a proprietary web-based trading platform that allows Canadian 11/1/ · TMGM Is The Best Forex Broker For Canadian Traders. As a broker, TMGM has a number of things going for it, none more so than its MetaTrader 4 offering for Forex trading. 19/10/ · Questrade is a solid second pick for the best trading platform in Canada. The company has competitive fees, fantastic customer support, research tools, and a variety of ... read more