Oanda is the best option for us canucks. Great platform. Ive found the customer service good. Deposits and withdrawals fairly simple and quick Best stock trading platform Canada. Hi, Im currently with RBC Direct Investing but doing some comparison with other banks and trading platforms. What is your opinion on what the best I use Trading They are based in the UK and licensed by the ESMA, and their minimum is $ They have flexible leverage options (a bit like eToro) and have a vast amount of chart Pretty sure ibkr has the best fees if you trade regularly, wealthsimple for Canadian and quest trade for infrequent trading. The ibkr fee structure is pretty confusing but from what I’ve 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. ... read more
com has a competitive Standard Account compared to other brokers, with a 0. This is also the only account compatible with the MetaTrader platforms. However, the DMA trading is only available as the in-house developed trading platform from Market.
com offers TradingView, the full MetaTrader suite MT4 and MT5 , and NinjaTrader. Additional Forex. Chasing Returns consists of two features. GamePlan analyses your trading behavior to help you improve. It tries to identify patterns in your trading behavior such as where you trade emotionally.
Smart Signals find you trading ideas using statistics and has no room for subjectivity. The program will show how it has performed in the past so you can determine if will help you in the future. Trading Central is great for additional investment support with tools including fundamental, technical and economic analysis as well as news sentiment.
Trading View Charts is another useful charting program to assist with your trading strategies. View Forex. Interactive Brokers or IBKR is one of the largest forex brokers in the world with a high-quality, modern institutional-grade trading platform suite. As a multi-asset broker with an extensive offering of tradeable global markets, Interactive Brokers or IBKR delivers competitive fees, a robust proprietary trading platform and a great range of trading products.
IBKR also has high-quality research tools and educational materials, including a growing selection of forex-specific content. Trading condition with Interactive Brokers will differ where you are trading from. Canadian and US traders can only trade spot not CFD and cannot trade with margin. Other countries can trade with CFDs and can trade with leverage. Regardless, commission costs are the same and these include discounts when you trade higher volumes.
Interactive Brokers does not publish its average spreads for forex but you can see their real-time quotes on their website that are set by the market. Alternatively, IBKR also has a fairly extensive commissions page with tiered examples for different asset classes, further highlighting the more you trade, the lower the costs. IBKR has the biggest variety of financial instruments to trade on this list including Forex, options, commodities, Exchange-Traded Funds ETFs , Exchange for Physical EFP , mutual funds, hedge funds, bonds and futures.
Just note that if you are in Canada, Singapore or the US, you will not be trading CFDs, but instead using spot trading, this also means no margin trading. The web-based platform Client Portal is geared toward everyday retail investors, whereas the desktop platform Trader Workstation has more forex trading tools and algos, designed for advanced traders. The IBKR Mobile app for android and iOS devices features rich charting, and the ability to execute trades from within the charts themselves, with available indicators.
The benefit here is the ability to monitor and make foreign exchange trades while on the go. This includes a massive Forex currency pairs, the most of any online broker on this list, as well as stocks and ETFs with a healthy array of indices, commodities and treasuries.
You can still trade a number of markets with this account, including Forex. Additionally, The Next Generation platform stands out for its feature-rich charting, with 80 technical indicators and studies, 40 drawing tools, and 60 easily attachable candlestick patterns.
Fusion Markets is our lowest-cost Forex broker for MT4 and MT5 trading, offering the best commissions in the industry, in addition to tight spreads and low ancillary fees for Canadian traders.
As a discount broker, this means Fusion Markets has some of the lowest trading costs industry-wide, which will particularly suit long-term or frequent traders. While Fusion Markets is not regulated by IIROC, the broker does accept Canadian clients as it is regulated by an offshore broker, VFSC in Vanuatu, for traders outside Australia.
For either MT4 or MT5, Fusion offers two account types: Classic spread-based and Zero commission-based accounts. The Standard account, on the other hand, has no commission costs, with a minimum spread is 0. In terms of additional costs, there is no minimum deposit requirement, no funding costs and no inactivity fees for either account. Please note, that funding fees may apply if you deposit from an international bank to a Canadian bank, which you may want to check with your institution.
Given Fusion is a MetaTrader specialist, you will benefit from using the most popular Forex platform, MT4, and the best platform for CFD trading, MT5. Both platforms also offer desktop, webtrader and mobile options for iOS and Android devices. There is also Genesis, a suite of MetaTrader trading tools that enhance the power of the standard MetaTrader platform for Forex, Indices, and Commodities. Additional specialist platforms include MyFxBook for algorithmic trading with a social element and DupliTrade copy trading , which both integrate with MT4 and MT5.
Friedberg Direct Powered By AvaTrade is a subsidiary within the AvaTrade Group. Friedberg Direct holds IIROC regulatory license and provides brokerage services, AvaTrade provides the technology to connect you with liquidity providers. If you are trading outside Canada, your broker will only be AvaTrade. While we have already covered the MetaTrader platform on this page, Friedberg Direct Powered By AvaTrade is slightly different since they provide fixed rather than variable spreads.
To explain, fixed spreads remain constant except in extreme market volatility. This predictability can provide advantages over floating spreads which fluctuate when economic conditions turn unfavorable, thus leading to large losses. Friedberg Direct Powered By AvaTrade does not charge commission fees on top of their spreads for their Standard Account so your trading costs are factored into the fixed spread.
Minimum spreads start at 0. The minimum deposit requirement varies depending on your currency denomination. A specialist app called AvaOptions is available for options trading along with AvaSocial for social trading. Having a large choice of trading platforms gives you more choice and freedom when trading. MT4 and MT5 also allow trading automation as Expert Advisors or EAs. Bother MetaTrader trading platforms come with a wealth of trading tools.
MetaTrader 5 has superior tools however more people use MetaTrader 4 which means you will have a larger community of like-minded traders for support. It also means access to a greater range of Expert Advisors EAs. If you are an options trader, then you will appreciate the benefits of the AvaOptions app. With this app, you can trade options on 40 currency pairs plus gold and silver. Expirations can be set to any business day and overnight options can be from one night to one year and set to any strike price.
There are a lot of choices out there when it comes to the best forex trading platforms in Canada, and indeed, internationally. Forex trading is still the most popular way to trade globally, so choosing the best forex brokers with the best trading platforms, is essential. MT4 continues to be the most popular Forex trading platform worldwide and is designed for both beginners and traders with experience, but there are many others. Some brokers offer their own proprietary trading platforms with specific features for their customers.
Along with trading platforms, there are a number of other considerations we have made, including:. We made sure to look IIROC regulated brokers such as FXCM, Oanda , ForTrade and CMC Markets who are good choices for Canadian traders. But also considered brokers outside Canada such as eToro and HotForex, who are not IIROC regulated but accept most traders across the globe.
There is no single global body governing the forex market. Instead, several governmental and independent bodies FCA, ASIC, CySEC, etc. supervise forex trading globally. These supervisory bodies regulate forex by setting standards that all brokers under their jurisdictions must comply with.
In Canada, the top regulatory bodies are the Investment Industry Regulatory Organization of Canada IIROC and The Canadian Securities Administrators CSA. There may also be certain provinces, states or regions that have their own financial regulator, as some brokers may have different regulatory requirements for certain regions.
In Canada, two examples include Ontario and Alberta, which both have additional regulatory requirements from the broker before they can offer services in these regions. There are also certain NFP and other corporations that offer additional protection for retail investors against bankruptcy. In Canada, this is The Canadian Investor Protection Fund CIPF which safeguards client accounts held by IIROC-regulated investment intermediaries, within certain limits.
Lastly, the regulator IIROC or offshore also impacts high-risk trading factors such as maximum leverage available. We use cookies to ensure you get the best experience on our website.
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CFD Trading Platforms Best Forex Trading Apps Automated Crypto Platforms Best Copy Trading Platform Best MT4 Brokers Best MT5 Forex Brokers. OANDA Review TMGM Review AvaTrade Review Forex. com Review CMC Markets Review Interactive Brokers Review Eightcap Review Fusion Markets. Home » Best Canadian Forex Brokers » Best Forex Trading Platform. Best Forex Trading Platform List The best forex trading platforms offer traders an easy-to-use interface, various valuable indicators, automation and fast execution speed.
Written by Justin Grossbard Written by Justin Grossbard Co Founder. Edited by Sean A'Hearn Edited by Sean A'Hearn Senior Forex And Content Writer. Reviewed by Justin Hertzberg Reviewed by Justin Hertzberg Forest Park FX President. Fact Checked We double-check broker fee details each month which is made possible through partner paid advertising. Learn more this here.
Top 10 Forex Trading Platforms The best forex brokers list based on trading software is. Brokers Regulated By IIROC. Visit Site. Our Rating. Eightcap review. TMGM Review. Here are my top picks for the best Canadian trading platforms, and I hope it helps you make a decision. Before we dive into how to choose the right company, I want to be crystal clear on this point: Discount brokers are not allowed to give you advice on your investments!
You have to do your own research and construct your own investment portfolio. You will also have to learn how to handle the up-and-downs of the market on your own. Competition has heated up, and that means better features and lower prices for Canadians.
Fees: Commission-free ETF and stock trades Wealthawesome Score : 9. DO use Wealthsimple Trade if: You want to invest for the lowest trading fees possible. I want to explain why I changed Wealthsimple Trade to my number one choice, after having Questrade the number two pick below on top for several years.
If the above description matches you, then Wealthsimple is the perfect trading platform for you because it satisfies all of those criteria. All Canadian stock and ETFs are completely commission-free to trade on Wealthsimple Trade.
S dollar account, making it less than ideal to trade U. S stocks with. Read the full Wealthsimple Trade Review here. DO use Questrade If: You are a beginner to advanced trader, need a robust desktop app, and want to trade stocks in either Canada or the U. S, and ETFs. 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 trading platforms for beginners to pros.
The reports are easy to understand, and ETF purchases are free. The Questrade dividend reinvestment plan DRIP , which automatically reinvests all my dividends, is easy to set up and saves me a lot of time. Questrade is also great for trading U. S stocks because you only need to pay the foreign exchange conversion fees once, and there are no fees for opening a U. S dollar account. It also has a great selection of accounts available.
I currently hold my Locked-In Retirement Account LIRA with Questrade. If you trade more frequently, you can purchase more advanced trading packages that come with better research tools and a cheaper per-trade rate. For those who find Wealthsimple Trade is lacking some of the features or accounts you use, I would suggest using Questrade instead.
Or you can take an example from me, and use both! Read the full Questrade Review here. Qtrade Direct Investing TM is one of the oldest trading platforms in Canada and has been around since The platform is well thought out and intuitive for newer users.
It also provides advanced research tools for those who need them. One of my favourite features is that it has completely commission-free ETFs to buy and sell.
This includes very popular all-in-one ETFs such as iShares XGRO. Qtrade also offers a wide range of investments, including equity, option, ETFs, bonds, GICs, and OTC stocks. Fees: Tiered pricing Wealthawesome Score : 8. Interactive Brokers Canada is my advanced trader pick.
It has the cheapest trades for high-volume traders. Interactive Brokers also has the best forex trading platform in Canada, and the foreign currency exchange rates are very low for all you forex traders out there. There used to be a bunch of inactivity fees for smaller accounts, but IB has gotten rid of that to compete with other brokers better.
Read the full Interactive Brokers Canada Review here. It offers a wide range of products as well; it has your standard offerings such as stocks, ETFs, and mutual funds, but it also has GICs, IPOs, and precious metals you can purchase. The mobile app has decent reviews on both iOS and Android, which confirms that the platform is stable and easy to use for most people. Read the full CIBC Investor Edge review here.
TD Direct Investing is a great big bank pick for your trading platform. Some people need a recognizable brand name to feel a sense of security when investing. It pairs a robust trading platform with world-class research and customer support to back it up. However, like many big bank products, where TD Direct Investing falls flat is in its high fees. Read the full TD Direct Investing Review here.
Purchase multiple ETFs, which will usually be a mix of equity and bond funds. But the downside is you will have to rebalance this portfolio periodically, so it is slightly more time-consuming than the all-in-one solution. Go through this list before making your final choice for a trading platform. Make sure whatever platform you choose matches your needs:. After my extensive research, Wealthsimple gets the crown as the best discount broker and trading platform in Canada.
Although I had Questrade as my top pick for several years now, I finally pulled the trigger and have Wealthsimple Trade my trading platform of choice. If I were to one day start trading heavily again in stocks and options, I would probably switch over to Interactive Brokers. I still also have an active LIRA account with Questrade. Then check out these top robo-advisors in Canada. Not very transparent.
They offer a USD account. You only have to convert CAD to USD once initially. That comes as something of a surprise.
The best forex trading platforms offer traders an easy-to-use interface, various valuable indicators, automation and fast execution speed. We compare the best software trading and the recommended forex brokers for the most popular trading platforms. With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally.
Justin achieved Honours in Commerce and has a Master's degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees. He has a knack for words and making them fit in any context to educate, entertain and persuade. Professionally, Sean has an interesting and varied back story. He has an MBA in finance from the University of Miami Herbert Business School. Fact Checked.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. As a broker, TMGM has a number of things going for it, none more so than its MetaTrader 4 offering for Forex trading. This is because TMGM has their servers in two data centers that the major liquidity providers use, NY4 New York and TY3 Tokyo meaning a lower latency and less chance of slippage when trading.
Most brokers only use 1 location so by using 2 locations, TMGM helps you get superior trading conditions. Indeed, TMGM has a number of selling points including a wide range of markets, deep liquidity and an excellent range of trading platforms.
To use the MT4 platform, recommended for forex trading, you have the option of the Classic and Edge trading accounts. Please note that there is an inactivity fee of USD35 per month for IRESS premium and gold. As well as the popular MT4, you also have access to IRESS, HUBx and Trading Central. MetaTrader 4 is your classic trading platform because it has all the essential features you will need for successful trading. The platform is trusted and relied on by more than any other platform in the market.
You can also switch across to desktop or their web platform, with your trading details carried over. In the near future, MetaTrader 5 will also be an option.
Additionally, Trading Central can also integrate with MT4 for a better Forex trading experience with a range of fundamental, technical, sentiment and economic analysis tools to assist you when trading. If you wish to trade CFD shares then IRESS is a good choice but maybe not the best choice for other products. The first advantage of IRESS is that it uses Direct Market Execution DMA so you can see the order books at the exchanges.
The other advantage is that you can trade via a great range of exchanges across the globe compared to the MetaTrader Platforms.
As a broker, Eightcap is a MetaTrader specialist, meaning they not only offer MT4 and MT5 trading platforms but a range of useful plugins and trading tools to enhance your trading with these platforms. This will suit Forex traders that also like having a variety of markets to trade for automation, scalping and hedging. Eightcap is also the king of crypto, with over cryptocurrencies available, including 20 cross-currency products.
You can even cross-pair these 20 cryptos against Bitcoin. To take full advantage of the full crypto range with Eightcap, you need to use MetaTrader 5 which is why we recommend this platform for this broker. This module captures the average spreads that brokers publish on their website, which is updated each month. spreads are taken from each broker's website and updated monthly. Eightcap offers most of the standard trading products found with CFD brokers but where they stand out is their range of crypto pairs.
All your favorite coins are available including Bitcoin, Ripple, Litecoin, Ethereum and many coins you are likely to never have heard of. All are available for trade against the US dollar but you can also trade certain coins against other currencies including AUD, CAD, GBP, EUR, MXN and even bitcoin.
The range of crypto with MT4 is decent Around 70 coins but you can only trade vs USD. For this reason MT5 should be your platform if you plan to trade cryptos. Eightcap specialies in the MetaTrader platforms, offering both MT4 and MT5, MetaTrader 4 being the most popular Forex platform globally. MT5 has the added bonus of more tradeable markets, particularly CFDs, and also allows depth of market DoM trading.
This platform is available as WebTrader, unlike MT4 which is not. Both MT4 and MT5 can be used via desktop or mobile. In terms of MetaTrader plugins, FX Blue Labs is also available, which enhances the standard MetaTrader platform suite with widgets, trading apps and charting tools.
Eightcap also supports integration with the third-party algorithmic platform Capitalise. ai, which allows automated trading within your MT4 or MT5 account without any programming or coding experience.
Cryptocrusher and The Amazing Trader are two new trading tools Eightcap have only recently added to their arsenal. Cryptocrusher enhances your crypto trading experience with tools such as precise entry, target and stop levels, market trend analysis, exclusive indicators and a hour chat room to discuss your trades.
The Amazing Trader is an advanced charting algo platform for FX, indices, cryptos and metals that doubles as a risk management tool. The tool allows you to see the strategies of noted trader Jay Meisler in real time. In addition, the broker offers a wide range of markets to trade, especially on its flagship Advanced Trading desktop and Web Trading browser platforms. With FOREX. com has a competitive Standard Account compared to other brokers, with a 0.
This is also the only account compatible with the MetaTrader platforms. However, the DMA trading is only available as the in-house developed trading platform from Market.
com offers TradingView, the full MetaTrader suite MT4 and MT5 , and NinjaTrader. Additional Forex. Chasing Returns consists of two features. GamePlan analyses your trading behavior to help you improve. It tries to identify patterns in your trading behavior such as where you trade emotionally.
Smart Signals find you trading ideas using statistics and has no room for subjectivity. The program will show how it has performed in the past so you can determine if will help you in the future. Trading Central is great for additional investment support with tools including fundamental, technical and economic analysis as well as news sentiment.
Trading View Charts is another useful charting program to assist with your trading strategies. View Forex. Interactive Brokers or IBKR is one of the largest forex brokers in the world with a high-quality, modern institutional-grade trading platform suite. As a multi-asset broker with an extensive offering of tradeable global markets, Interactive Brokers or IBKR delivers competitive fees, a robust proprietary trading platform and a great range of trading products.
IBKR also has high-quality research tools and educational materials, including a growing selection of forex-specific content. Trading condition with Interactive Brokers will differ where you are trading from. Canadian and US traders can only trade spot not CFD and cannot trade with margin. Other countries can trade with CFDs and can trade with leverage. Regardless, commission costs are the same and these include discounts when you trade higher volumes.
Interactive Brokers does not publish its average spreads for forex but you can see their real-time quotes on their website that are set by the market. Alternatively, IBKR also has a fairly extensive commissions page with tiered examples for different asset classes, further highlighting the more you trade, the lower the costs.
IBKR has the biggest variety of financial instruments to trade on this list including Forex, options, commodities, Exchange-Traded Funds ETFs , Exchange for Physical EFP , mutual funds, hedge funds, bonds and futures.
Just note that if you are in Canada, Singapore or the US, you will not be trading CFDs, but instead using spot trading, this also means no margin trading. The web-based platform Client Portal is geared toward everyday retail investors, whereas the desktop platform Trader Workstation has more forex trading tools and algos, designed for advanced traders. The IBKR Mobile app for android and iOS devices features rich charting, and the ability to execute trades from within the charts themselves, with available indicators.
The benefit here is the ability to monitor and make foreign exchange trades while on the go. This includes a massive Forex currency pairs, the most of any online broker on this list, as well as stocks and ETFs with a healthy array of indices, commodities and treasuries. You can still trade a number of markets with this account, including Forex. Additionally, The Next Generation platform stands out for its feature-rich charting, with 80 technical indicators and studies, 40 drawing tools, and 60 easily attachable candlestick patterns.
Fusion Markets is our lowest-cost Forex broker for MT4 and MT5 trading, offering the best commissions in the industry, in addition to tight spreads and low ancillary fees for Canadian traders. As a discount broker, this means Fusion Markets has some of the lowest trading costs industry-wide, which will particularly suit long-term or frequent traders.
While Fusion Markets is not regulated by IIROC, the broker does accept Canadian clients as it is regulated by an offshore broker, VFSC in Vanuatu, for traders outside Australia. For either MT4 or MT5, Fusion offers two account types: Classic spread-based and Zero commission-based accounts. The Standard account, on the other hand, has no commission costs, with a minimum spread is 0.
In terms of additional costs, there is no minimum deposit requirement, no funding costs and no inactivity fees for either account. Please note, that funding fees may apply if you deposit from an international bank to a Canadian bank, which you may want to check with your institution. Given Fusion is a MetaTrader specialist, you will benefit from using the most popular Forex platform, MT4, and the best platform for CFD trading, MT5.
Both platforms also offer desktop, webtrader and mobile options for iOS and Android devices. There is also Genesis, a suite of MetaTrader trading tools that enhance the power of the standard MetaTrader platform for Forex, Indices, and Commodities.
Additional specialist platforms include MyFxBook for algorithmic trading with a social element and DupliTrade copy trading , which both integrate with MT4 and MT5. Friedberg Direct Powered By AvaTrade is a subsidiary within the AvaTrade Group.
Friedberg Direct holds IIROC regulatory license and provides brokerage services, AvaTrade provides the technology to connect you with liquidity providers. If you are trading outside Canada, your broker will only be AvaTrade. While we have already covered the MetaTrader platform on this page, Friedberg Direct Powered By AvaTrade is slightly different since they provide fixed rather than variable spreads.
To explain, fixed spreads remain constant except in extreme market volatility. This predictability can provide advantages over floating spreads which fluctuate when economic conditions turn unfavorable, thus leading to large losses. Friedberg Direct Powered By AvaTrade does not charge commission fees on top of their spreads for their Standard Account so your trading costs are factored into the fixed spread.
I use Trading They are based in the UK and licensed by the ESMA, and their minimum is $ They have flexible leverage options (a bit like eToro) and have a vast amount of chart 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 Pretty sure ibkr has the best fees if you trade regularly, wealthsimple for Canadian and quest trade for infrequent trading. The ibkr fee structure is pretty confusing but from what I’ve Best stock trading platform Canada. Hi, Im currently with RBC Direct Investing but doing some comparison with other banks and trading platforms. What is your opinion on what the best Oanda is the best option for us canucks. Great platform. Ive found the customer service good. Deposits and withdrawals fairly simple and quick 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
Eightcap also supports integration with the third-party algorithmic platform Capitalise. Questrade: A Well-Rounded Choice. Currency Pairs. Thank you! View Forex.
com Overall ranking. com Review. Before any fx broker in Canada can accept forex and CFD traders as clients, they must become authorised by the Investment Industry Regulatory Organization of Canada IIROCwhich is the financial regulatory body in Canada. Accept More information. Standard Stop Loss. While Fusion Markets is not regulated by IIROC, the broker does accept Canadian clients as it is regulated by an offshore broker, best forex trading platform canada reddit, VFSC in Vanuatu, for traders outside Australia.