Best Canadian Forex Brokers

Friedberg Direct [Powered by AvaTrade] Has The Best Fixed Spreads

Canadian traders looking to use fixed spreads for their trading should turn to Friedberg Direct, powered by AvaTrade. AvaTrade is a reputable forex and CFD broker running the Friedberg Direct trading platform technology. Friedberg Direct was founded in 1971 and forms one of the largest independent brokers in Canada.

Friedberg Direct’s Fixed Spreads Analysis

Friedberg Direct offers you the ability to trade forex using fixed spreads. Fixed spreads remain constant except in extreme market conditions. This predictability can provide advantages over floating spreads which fluctuate when economic conditions become unfavorable, thus leading to large losses.

Friedberg Direct does not charge commission fees (on top of their spreads) meaning your trading costs are part of the fixed spread. Fixed spreads are usually wider than standard spreads (which also have no commissions) to cover the brokers’ risk for spread fluctuations, AvaTrade’s spreads, however, are competitive with standard spreads from brokers.

Low Funding Requirements

Friedberg Direct has a CAD $50 minimum requirement for deposits or withdrawals. Depositing and withdrawing with a Friedberg Direct account can be done using credit cards, debit cards, or wire transfers.

Friedberg Direct Offers Trading Platform Features

Friedberg Direct offers excellent liquidity on a wide range of financial products. Over 100 financial instruments are available for you to trade including forex, stocks, commodities, indices, forex options, and bonds.

If you are looking to trade options, then AvaTrade might be the best broker around. AvaTrade offers AvaOptions trading app/platform, which will help you make the most of your options trading. Few CFD brokers offer tools specially designed for options trading. This broker offers 42 forex pairs plus gold and silver for options trading.

Forex trading platforms available through Friedberg Direct include:

• MetaTrader 4
• MetaTrader 5
• Mac Trading
• Web Trading
• AvaOptions
• AvaTradeGo

A large choice of trading platforms makes it easy to benefit from more ways to trade. Trading automation is available as Expert Advisors or EAs through MetaTrader 4 and 5 platforms. Traders can also achieve automation through social and copy trading tools such as  ZuluTrade, DupliTrade and AvaSocial.

Advanced Protection With AvaProtect

If you desire a higher level of risk management beyond the standard stops, AvaTrade offers AvaProtect™. If you are using AvaTradeGo, for a small premium, you can buy time to reverse your trade. This means that if your trade moves in an unfavorable direction during this set period of time, you can pull out of the trade.

AvaTrade allows hedging your position to offset the risk associated with complex instruments such as CFDs.

Last Notes On Friedberg Direct

As a reputable independent broker since 1971, Friedberg Direct is regulated by IIROC, meaning they offer a relatively safe environment for traders of all levels. AvaTrade also offers various educational materials through Friedberg Direct such as economic calendars, eBooks, training videos, beginner guides, and of course the option to open a demo account along with professional customer support ready to answer all your questions.

Visit Friedman Direct powered by AvaTrade

Fusion Markets Has The Lowest Fees For Canadian Traders

Canadian traders looking for the lowest cost broker should choose Fusion Markets. The broker achieves low costs through industry-low commission costs, tight spreads, and low ancillary fees.

Fusion Markets Has Low Commission

Fusion Markets offers the following low commission for its ‘Zero’ Trading account. If you are a high-volume trader, then commission costs can add up as you will pay to open and close your position for each lot you buy and sell.

• $3.00 CAD commission per side ($6.00 CAD round-turn) per standard lot

Fusion Markets Has Tight Spreads

Spreads represent your largest costs when trading. With this in mind, it makes sense to choose a broker that offers ECN pricing tight spreads.

When trading each pip you trade will cost you CAD$10 so with an average spread of 01.2 for EURUSD. You will pay $1.20 on the spread each way. We recommend trading with the Fusion Markets Zero Account rather than Standard Account, as this will save you on costs. While the Standard account has no commission costs, 0.8 pip is added to the spread. Using EURUSD as an example, if the round trip cost is $2.40 spread cost is ($1.20 each way) + commission of $6.00 = $8.40. Standard account average spread is 0.12 + 0.8 = 0.92 so you will pay $9.20 to in trading costs.

Fusion Markets Does Not Have Inactivity Or Funding Fees

Fusion Markets do not have inactivity costs. This means you don’t have any obligation to meet any minimum trading requirements each month. A lot of retail investor accounts, especially occasional traders, get caught out with such costs.

Besides no inactivity costs, Fusion Markets do not charge any Funding fees for deposits or withdrawals. The one exception may be when funding from an international bank to a Canadian bank.

Fusion Markets Saves You On Costs

Overall, Fusion Markets is 36% cheaper than other regulated forex brokers based on their low spread and lowest commission rates.
Use the forex brokerage calculator below to compare Fusion Markets to other global forex brokers (some don’t accept Canadian forex traders) to see how much you will save on a trade. We base this on published average spreads, commissions, and live forex pair crosses.

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Fusion Markets Offers The High Leverage

Fusion Markets accepts Canadian traders but is not IIROC regulated. The broker’s offshore, Vanuatu (VFSC) regulated branch offers leverage of 500:1 on currency trading, while the Australian (ASIC) branch is limited to 30:1. Leverage involves a high level of risk, so it is important to select the right level that is right for you. There is no minimum deposit requirement and no minimum account size.

Fusion Markets Offers CAD as Base Currency

When signing up with Fusion Markets, if you are outside Ontario, you can choose to sign up with either Fusion Markets or Fusion Markets. Ontario residents can only choose Fusion Markets. Both entities offer exactly the same product, but choosing Fusion Markets means you can choose CAD as your account base currency.  Having CAD as your account base currency will save you on costs, as you can prevent currency conversion charges when trading.

The reason Ontario residents cannot choose Fusion Markets is that Ontario is not a signatory of the Canadian Securities Administrators (CSA) which is the umbrella financial regulator across all provinces and territories across Canada except Ontario.

Fusion Markets Offer The MetaTrader 4 Forex Trading Platform

Fusion Markets offers MetaTrader 4 (MT4). This is the most popular forex trading platform worldwide, allowing desktop, Webtrader for browsers and mobile trading experiences. It is also the most used platform by forex traders adopting automation (Expert Advisors) and also offer offers MetaTrader Signals for social trading (copy trading).

Final Points On Fusion Markets

We recommend Fusion Markets for Canadian forex traders based on their low fees, forex trading platform, and high leverage. The broker is regulated by the Vanuatu Financial Services Commission (No. 40256) and their parent company is ASIC regulated. The broker segregates all client monies with Westpac (in Australia) for peace of mind.

View Fusion Markets Review >>Visit Fusion Markets >>

FP Markets Is The Best IIORC Regulated Forex Broker

FP Markets LLC, trading as FP Markets, is an Australian forex broker established in 2005. Canadian traders can access a wide range of contracts for difference (CFDs) such as forex, shares, indices, commodities, and cryptocurrencies, all with tight spreads and fast execution on a variety of advanced trading platforms. As a globally regulated and multi-award-winning forex broker, there are several reasons we consider FP Markets the best forex broker overall for Canadian traders.

FP Markets Raw Account Offers Extremely Competitive Spreads

FP Markets have two forex account types:

• Standard Account (MT4 – MT5)
• Raw Account (MT4 – MT5)

The Standard Account is commission-free with spreads starting from 1.0 pips EUR/USD while the Raw Account offers spreads starting from 0.0 pips EURUSD. The RAW Spread account, however, has a commission fee of USD $3 per lot. FP Markets RAW account offers lower trading costs than the standard account however beginner traders may prefer the standard account more simple cost structure.

FP Markets promises ECN pricing with no price manipulation, no re-quotes, and no dealing desk. The broker achieves this through the electronic communication network (ECN) pricing by streaming price feeds directly from their pool of liquidity providers. FP Market’s pool of liquidity providers allows FP Markets to offer some of the lowest spreads of all brokers to Canadian clients for the RAW account.

FP Markets Account Spreads	EUR/USD AUD/USD EUR/JPY GBP/USD USD/JPY AUD/JPY EUR/GBP USD/CAD USD/SGD	EUR/USD AUD/USD EUR/JPY GBP/USD USD/JPY AUD/JPY EUR/GBP USD/CAD USD/SGD	EUR/USD AUD/USD EUR/JPY GBP/USD USD/JPY AUD/JPY EUR/GBP USD/CAD USD/SGD	EUR/USD AUD/USD EUR/JPY GBP/USD USD/JPY AUD/JPY EUR/GBP USD/CAD USD/SGD	EUR/USD AUD/USD EUR/JPY GBP/USD USD/JPY AUD/JPY EUR/GBP USD/CAD USD/SGD
	0.20	0.40	0.90	0.70	0.70
	0.02	0.05	0.23	0.09	0.03
	0.17	0.24	0.43	0.59	0.26
	0.20	0.20	n/a	0.50	0.20
	0.30	0.50	0.50	0.60	0.50
	n/a	0.50	0.40	0.20	n/a
	0.20	0.30	0.50	0.60	0.30
	0.50	0.70	0.80	0.50	0.50
	0.43	1.22	1.16	1.00	0.76

Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/10/2022

Compare Low Spread Brokers

Spreads for 60 currency pairs are available including CAD/USD, GBP/USD, AUD/USD, and EUR/USD.

*FP Markets spreads are 0.0 pips EUR/USD on average 55.84% of the time with the RAW Spread trading accounts.

Features Of The Raw Account

Labelled as the experts’ choice, the Raw Account has some impressive features:

• Low commission fees starting from USD $3 per lot
• Low starting balance required
• Fast execution speeds
• Extremely tight spreads starting from 0.0 pips
• Flexible leverage up to 500:1 offshore, 30:1 in Australia (ASIC) and Europe (CySEC)
• Over 70 trading products including forex, commodities, and indices

FP Markets Has The Fastest Trade Execution Speeds

As a no-dealing desk (NDD) broker, FP Markets uses straight-through processing (STP) of limit orders, allowing for faster trade execution speeds than many similar brokers. Limit orders can include setting a buy limit, buy stop, sell limit or sell stop to maximise profits and minimise losses. The graph below shows FP Markets achieving an average execution speed of 80ms based on data from 25 trades – the quickest of all the competition.

FP Markets Has A Wide Range Of Financial Instruments

Along with trading forex, FP Markets offers a range of CFD trading products that allows access to over 10,000 financial instruments, including:

Share CFDs

FP Markets offers thousands of the most commonly traded stocks on the world’s biggest exchanges, such as NASDAQ, NYSE, and LSE. The broker establishes pricing through transparent direct market access (DMA). You can trade shares CFDs on the MetaTrader 5 trading platform using desktop software or mobile apps.

Commodities

To hedge investment risk, FP Markets also offers precious metal assets such as gold and silver and a wide range of other commodities like energy, metals, and agricultural products. The commodities market is open 24 hours a day, 5 days a week.

Indices

FP Markets provides access to 19 major global indices and allows you to trade CFD on stock indices such as NASDAQ100, S&P500, and EUREX.

Cryptocurrencies

The high volatility of the cryptocurrency (crypto) market is becoming a favourable way to diversify portfolios. You can trade coins such as Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin with no cryptocurrency wallet. The volatile nature of these currencies stems from non-correlation to central banks or other financial instruments. Similar to the forex market, you can trade cryptocurrencies 24 hours a day, 5 days a week, on MetaTrader 4 and MetaTrader 5 platforms across desktop and mobile.

The graph above shows the range of markets offered by FP Markets against other brokers, many of which only offer access to forex markets. FP Markets is a national leader in providing a diverse range of financial instruments to clients.

OANDA Has The Best High Leverage Canadian Forex Broker

Established in 1995, OANDA Corp is a registered Futures Commission Merchant and Retail Foreign Exchange Dealer with the US Commodity Futures Trading Commission and is also a member of the National Futures Association. The company provides financial services such as:

• Currency conversion
• Online retail Forex trading
• Currency data and analytics.

OANDA is licensed and overseen by five major financial regulators, including Canadian authorities:

• Canada – the Investment Industry Regulatory Organization of Canada (IIROC)
• United States – US Commodity Futures Trading Commission (CTFC)
• Europe – the Financial Conduct Authority (FCA)
• Asia Pacific – the Monetary Authority of Singapore (MAS)
• Australia – the Australian Securities and Investments Commission (ASIC)

Among the top 20 regulated Canadian Forex brokers we reviewed, OANDA (Canada) Corp offers the best maximum leverage conditions. Canada-based retail investors can take advantage of maximum leverage of up to 1:50 when trading high-risk derivative instruments (CFDs) on currency pairs.

Margin requirements will be different depending on the base account currency and the forex pair being traded. Canada-based traders using CAD as their base account currency can use maximum leverage of 1:50.

Oanda Account Types

Canada-based investors can open two types of accounts with OANDA (Canada) Corp:

• Standard Account
• Premium Account

Unlike other regulated Forex brokers in Canada we reviewed, OANDA has no minimum deposit requirement for clients to open an account with the company. Important disclaimer: this is only valid for the broker’s Standard Account. However, we should note that Canadian traders will have to ensure sufficient funds in their trading accounts to meet OANDA’s margin requirements.

If Canadian clients choose to open a Premium Account with the broker, they will have to ensure an initial deposit of USD 20,000 (or the equivalent in local currency).

A comparison between the two Oanda account types can be observed in the table below:

As for base account currencies, OANDA allows deposits made in 9 different base currencies:

• Canadian Dollars (CAD)
• Australian Dollars (AUD)
• Swiss Francs (CHF)
• Euros (EUR)
• British Pounds (GBP)
• Hong Kong Dollars (HKD)
• Japanese Yen (JPY)
• Singapore Dollars (SGD)
• US Dollars (USD)

Note* OANDA also offers a FREE demo account for Canadian customers.

Deposits and Withdrawals

We should note that, at present, Canada-based retail clients cannot deposit funds into their OANDA accounts by using debit or credit cards.

In case Canadian Forex traders prefer to fund their OANDA accounts by using PayPal, this is possible only if their account currency is CAD. Processing time is up to 1 business day. There is no minimum deposit requirement and no limit for maximum deposits for verified PayPal accounts. For unverified accounts, however, the maximum deposit cannot exceed CAD $1,000.

In case Canada-based retail investors choose to deposit funds via bank wire transfer, again, there will be no limit for maximum deposits. Processing time is between 1 and 3 business days for wire transfers within Canada. As for additional charges, clients may have to pay their bank a fee.

Withdrawals need to be carried out by using the same method, which Canadian retail clients used for their deposits. Withdrawals via PayPal are processed only in CAD and only to personal PayPal accounts (business accounts are excluded). PayPal withdrawals are processed between 1 and 5 business days and are not associated with any fees.

Withdrawals via bank wire transfer require between 2 and 5 business days to be processed. With this method and depending on the account currency, Canadian traders will be charged fees as follows:

View Oanda ReviewVisit Oanda

Forex.com Has The Most Currency Pairs

Established in 1999 and based in New Jersey, GAIN Capital Holdings Inc offers trade execution services in Foreign Exchange for retail investors. The company owns global CFD and Forex brands Forex.com and City Index and, along with its subsidiaries, it is regulated in several jurisdictions across the globe.

Key regulators include:

• USA – National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)
• Canada – (IIROC)
• United Kingdom – Financial Conduct Authority (FCA)
• Europe – Cyprus Securities and Exchange Commission (CySEC)
• Australia – Australian Securities and Investments Commission (ASIC)
• Japan – Financial Services Agency (FSA)
• Singapore – Monetary Authority of Singapore (MAS)
• Cayman Islands – Cayman Islands Monetary Authority (CIMA)

GAIN Capital Holdings Inc is a publicly-traded company, listed on the New York Stock Exchange (NYSE: GCAP). Among the top 20 regulated Forex brokers in Canada, which our team reviewed, Forex.com offers the most extensive range of currency pairs.

Forex.com FX offering

With Forex.com, Canadian forex traders are granted access to 84 major, minor and exotic currency pairs and can take advantage of competitive spreads, starting from 0.8 pips on majors such as EUR/USD, USD/JPY and AUD/USD. The minimum and typical spreads offered on other popular pairs are presented as follows:

• GBP/USD – minimum 1.0 pips, typical 1.8 pips,
• USD/CHF – minimum 1.3 pips, typical 2.0 pips,
• NZD/USD – minimum 2.3 pips, typical 3.1 pips,
• USD/CAD – minimum 1.5 pips, typical 2.2 pips,
• GBP/CAD – minimum 3.7 pips, typical 5.4 pips,
• EUR/CAD – minimum 2.6 pips, typical 3.6 pips,

Traders can gain access to +200 CFD instruments on popular equities, commodities, and indices. View the best CFD trading platform Canada page to compare the best CFD brokers including forex.com.

Forex.com Order Execution

Because of the innovative technology and deep network of liquidity providers, Forex.com delivers accurate pricing and outstanding execution of trade orders, with an average execution speed being 0.05 seconds. The broker discloses more details on its Execution Scorecard:

• 73% of all trades are executed in less than 1 second,
• 37% of limit orders are executed at a better price than the requested one,
• 100% of limit orders are filled at the requested price or better,
• 99% of trades are successfully executed
• The average difference between the requested and executed price on Forex limit orders with price improvement is 1.04 pips

Forex.com DMA Account

Canadian Forex traders who demand exposure to deep Forex liquidity pools will probably find Forex.com’s Direct Market Access (DMA) Trading Account as suiting their preferences. This account enables them to:

• Trade on quotes that come directly from global banks and top-tier liquidity providers
• View multiple levels of real-time pricing on the broker’s order book
• Split the spread and place orders within the top of the book spreads

Clients who trade on a DMA account will pay low market spreads and benefit from better trading conditions. They can benefit from commission discounts depending on their trade volume. Or, the more they trade, the greater the discount they will receive during the next month.

Let’s consider a simple example:

• If a Canada-based institutional investor trades $355 million volume in a month, its commission for trades for that month will be $35 per million traded, or 42% less compared to the standard commission.
• If the investor trades $555 million volume in a calendar month, its commission for trades 2 months later will still be $35 per million traded because it is based on its 3-month rolling average of volume traded.
• And if the investor trades $610 million volume in a calendar month, its commission for trades 2 months later will become $30 per million traded (as its 3-month rolling average of volume traded is considered).

We have a more in-depth ECN forex broker comparison for Canadian traders.

CMC Markets Is The Best Forex Broker For Beginner Canadian Traders

CMC Markets is the best Canadian forex broker for beginner traders that want access to great educational resources. CMC Markets provides a full range of trading services from forex trading and CFD trading to unique educational resources tailored to the needs of retail traders.

IIROC regulated and CIPF member, CMC Markets serves Canadian traders since 2005 and traders worldwide since 1989.

CMC Markets Customer Services

CMC Markets offers Canadian traders outstanding educational resources and an excellent trading experience thanks to its learning center. CMC Markets’ education offerings include:

• Extensive written content
• Trading guides
• Webinars and events
• Video Lessons

The only drawback is a lack of quality market research material and fundamental analysis of current market events.

eBooks

CMC Markets offer a list of 8 different well-structured eBooks that are available for anyone to download in PDF format. The trading eBooks are designed to help novice traders build their trading skills, as well as guides on how to trade using trendlines and how to recognize patterns or essential guides to day trading.

Trading Guides

CMC Markets offers easy-to-use trading guides that cover topics ranging from basic concepts like what is forex, support and resistance trading, how to trade on news and so much more. Some lessons will be provided in video format which makes the learning experience more powerful.

Webinars

The engaging webinars offered by CMC Markets are hosted by an experienced team of market analysts led by Michael Hewson. Anyone can register and join the webinars for free. The webinars cover a wide range of topics like trading strategies, trading tips and tricks, news breakdowns and live coverage of the most important economic data.

CMC Markets Overview

CMC Markets offers access to over 9,500 financial markets and +330 FX pairs with spreads that start from 0.7 pips through a proprietary trading platform – Next Generation.

Forex traders can access +331 currency pairs with CMC Markets – one of the most diverse lists of FX offerings by a Canadian forex broker and other 9,500 CFDs across commodities, indices, shares, treasuries, metals and energies.

At the same time, CMC Markets offers access to the well-known MetaTrader 4 trading platform. There is a desktop, mobile and web-based version of these platforms that lets traders access their trading accounts from multiple devices.

Interactive Brokers Is The Top ECN-Style Broker

Established in 1978 by its Chairman Thomas Peterffy, Interactive Brokers Group has an office in Montreal, Quebec and functions as an “all-in-one” brokerage providing:

• Direct market access (DMA)
• Trade execution
• Clearing services

IB caters to both professional and institutional traders for a range of asset classes and derivatives such as stocks, bonds, foreign exchange, metals, commodity futures, options, ETFs and Mutual Funds internationally.

Among the many entities operating under the parent company, Interactive Brokers LLC is regulated by the US Securities and Exchange Commission (SEC) and by the Commodity Futures Trading Commission (CFTC), while Interactive Brokers Canada Inc is a member of the Investment Industry Regulatory Organization of Canada and of the Canadian Investor Protection Fund.

Low-cost Stock Trading

Interactive Brokers (IB) allow Canadian citizens access to a range of small-cap, mid-cap and large-cap domestic and international stocks from a single account at low brokerage fees.

The company offers three types of pricing plans to suit its client’s needs:

• Transparent Volume-Tiered Pricing
• Fixed-Rate Pricing
• Zero Commission US Stock Trading (IBKR Lite)

IB’s Tiered Pricing plan features low commissions, which diminishes based on trade volume. The plan also includes exchange, regulatory, and clearing fees.

The following table shows commissions charged on trading US stocks:

 As for trading in Canadian stocks and ETFs, IB will charge commissions as follows:

Note * IB’s Fixed Rate Pricing plan features a fixed fee charged per share or a particular per cent of the trade value. The plan also includes exchange and regulatory fees.

Stock trading comes with different fees:

• When trading US stocks, IB will charge clients a fixed fee of USD 0.005 per share. The minimum fee per order is USD 1.00, while the maximum fee is 1.0% of the trade value.
• When trading Canadian stocks, the brokerage will charge clients a fixed fee of CAD 0.01 per share. The minimum fee per order is CAD 1.00, while the maximum fee is 0.5% of the trade value.

IBKR Lite pricing plan allows for unlimited trading of US-listed stocks and ETFs with no commissions charged.

Trading Platforms

IB allows for direct market access to financial markets through a range of platforms:

• Client Portal – suitable for new clients and traders who prefer to access all the resources they need to monitor and manage their accounts with a single login to one website,
• Desktop Trader Workstation (TWS) – the broker’s flagship platform suitable for traders who operate with a range of trading instruments and for those who require in-depth news, technical research and advanced algos and trading tools,
• IBKR Mobile for iOS or Android devices,
• IBKR WebTrader – suitable for traders who prefer a less sophisticated interface. The platform offers similar functions and tools as Desktop TWS,
• IBKR TWS Application Programming Interface (API) – suitable for clients who prefer to create trading software or automated trading programs of their own.

Best Order Execution Engine

Canada-based traders can have their orders executed at the best possible price via IB’s SmartRouting engine. The latter explores the best stock, option and combination prices available at the moment clients place their orders and looks to immediately fill those orders electronically.

Last year, the brokerage insured average savings of $6.70 per trade for its clients, and after considering average commissions charged, the average net benefit for clients amounted to $4.42 per trade.

TD Direct Has The Best Share Trading Account

TD Direct Investing is a top Canadian broker with competitive pricing when share trading and innovating trading tools, investing advice and education content to help make your trading experience successful.

TD Direct Investing Offers A Variety Of Trading Instruments

TD Direct offers a variety of products trading including Canadian and US stocks, options, ETFs, mutual funds, GICs, bonds, IPOs and Precious metals. CFD products such as forex, commodities and cryptocurrencies are not available.  Pricing for TD Direct instruments includes:

• Stocks – $9.99 or $7 for active traders
• Options – $9.99 or $7 for active traders, plus $1.25 per contract
• Mutual funds – No commission
• Fixed income – Commission is included in the quoted price
• IPOs and new issues – No commission

TD Direct Investing Has Multiple Account Types

TD Direct give clients many account types to choose from, this allows you to select an account that suits your long- and short-term goals. The range of accounts is listed below:

• Margin account
• Cash account
• A self-directed tax-free savings account
• A self-directed registered retirement savings plan
• A registered education savings plan
• Self-directed retirement income fund
• Self-directed locked-in retirement accounts
• Life income funds
• A self-directed registered disability savings plan

TD Direct Investing Level Of Resources

Trading Platforms

TD Direct offers a variety of trading platforms for all levels of experience. Platforms available include:

• WebBroker online – Best for investors and traders who trade north American stocks and options
• TD app (Android and iOS devices) – Best for investors and traders who trade north American stocks and options who wish to be mobile
• Advanced Dashboard – Best for active traders as it contains live news streaming and full customization.
• Thinkorswim – This platform is owned by TD Ameritrade. It is best for options trading and US stocks. You will need a minimum 25k USD account balance to use this platform. Forexbrokers.com has awarded this platform as the #1 trading platform for 5 years running.

Trading Tools And Education

A range of online resources is available to help improve your knowledge and confidence in trading. Features include:

• TD Invest Learning Center: houses a collection of tools and analytics such as training videos, explanation guides, live online classes, platform tours, and webinars.
• TD Market Research Center: displays a range of market insight data and research tools including real-time news, economic events, screen scanning, interactive charting, and email alerts.

Last Notes On TD Direct Investing

TD Invest offers online and in-store investing. There is 24/7 support available if you are investing online, and this is available in English and French.  TD Direct is a highly regarded broker, but if you are looking to trade forex of CFDs, they are not the ideal choice. TD Direct is the top Canadian broker for trading and investing in stocks.

Visit TD Invest

Questrade Is An All-in-one Trading Platform

Questrade, Inc. is a Canadian-based multi-asset brokerage trading firm that is best for its all-in-one trading platform solution. This forex broker is a registered investment dealer of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF).

The Questrade trading platform offers access to +110 currency pairs, leverage up to 50:1, spreads starting from as low as 0.8 pips and several CFD markets on indices, metals, stocks, energy and commodities.

Questrade Trading Platform

Questrate operates its own in-house built trading platform that can be accessed directly from your web browser or trading on the go with the Questrade Global app.

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 forex traders to access FX and CFD products from over 15 global exchanges.

Key features of the Questrade Global FX platform include:

• Real-time charting package with annotations.
• Economic calendar with the latest key economic data releases.
• Trade signals
• Instant alerts when a price of interest is reached. The notifications can be sent via email or pop-up alerts.
• Built-in research powered by third-party provider AutoChartist and NewsEdge
• Personalized Watchlists and free real-time market data

Questrade flagship FX & CFD platform is equipped with additional trading tools that allow traders to trade in any trading environment type with confidence.

Questrade Forex Fees

The total trading cost with Questrade is included in an all-inclusive spread. This means traders will not have to pay any additional trading commission. The minimum spread on the most popular currency pair EURUSD starts at 0.8 pips.

However, the typical EUR/USD spread is 1.9 pips. The targeted spread across the major currency pairs can be viewed in the table below.

More, the minimum spread on CFD indices starts from 0.5 points, 0.05 points for CFD commodities and 0.75 points for gold trading.

Questrade is a no-dealing desk forex broker (NDD), which means there is no conflict of interest. This broker doesn’t trade against its clients as orders are matched on the interbank market.

Eightcap Is The Best CFD Broker For Crypto Trading

Established in Australia, Eightcap is an online Forex and CFD broker and is unique in offering the best range of cryptocurrency markets for Canadian clients. This is because a lot of brokers regulated by IIROC don’t offer crypto products. Eightcap, on the other hand, is not regulated by the Canadian regulator, instead, by an offshore regulator, SCB in the Bahamas.

The broker also offers competitive FX spreads due to working with top-tier liquidity providers. It does this by having its servers located in the Equinix data centers, where the institutions themselves are hosted. In addition to deep liquidity, you will also obtain low latency in trade execution which means less chance of slippage and fast execution speeds.

Competitive Spreads with Raw Account

Out of Eightcap’s two account types, you will obtain the most competitive pricing with their Raw account.

The Raw account has the lowest Forex spreads, starting at 0 pips for EUR/USD, with commissions of CAD $7 per round trip. Alternatively, you can open a Standard account, which is commission-free with spreads starting from 1 pip.

Both accounts offer ECN pricing and execution, the main consideration is trading costs. We recommend Raw for more experienced traders (scalpers, hedgers and day traders) while the Standard account is for beginners just starting out.

You can also fund your account using Tether (USDT) or BitCoin (BTC) cryptocurrency, giving Eightcap a point of difference as the top crypto broker.

Eightcap’s spreads are competitive when looking at ECN-type accounts as highlighted below. This module captures the average spreads that brokers publish on their websites, which we update monthly.

Wide Range of Stocks and Cryptos

Eightcap offers a smaller range of 40 Forex pairs, but where the Australian broker stands out is in its crypto and stock offering, with over 250 Cryptocurrencies and 400 stocks available, to trade.

For an added benefit, the broker’s Forex and commodities products are available with leverage of up to 500:1. Given there is more risk in taking on higher leverage, Eightcap uses a tiered system that restricts higher leverage for larger accounts, ensuring an element of protection should movements not go in your favour.

Top Crypto Broker

Eightcap is our top crypto broker, offering 250 cryptocurrencies to trade, including 20 cross-currency products against USD, AUD, CAD, EUR, GBP and MXN, easily the biggest range for Canadian traders. You can even cross-pair these 20 cryptos against Bitcoin, as seen below.

To trade Eightcap’s full range of cryptos, however, you need to use MetaTrader 5 if you want (E.g. AUD and CAD).

Diverse Range of Trading Platforms

As a MetaTrader specialist, Eightcap offers the two most popular Forex trading platforms, MT4 and MT5.

MT4 is still the most widely used platform for Forex trading, while MT5 is suited for CFD trading, as it is designed for trading on centralized and decentralized exchanges. MT5 also has more flexibility and advanced charting tools, as well as more markets available to trade, particularly cryptos and share CFDs.

Another useful platform is TradingView, an advanced charting program that has over 100 technical and 50 analytical indicators to assist your technical analysis while trading.

The three main trading platforms (MT4, MT5 and TradingView) are available on desktop and mobile (for both iOS and Android devices) while only MT5 and TradingView are also available as a WebTrader. You can’t use robots or automation with TradingView either.

Cryptocrusher and The Amazing Trader are two recent additions to Eightcap’s suite of platforms.

As the name indicates, Cryptocrusher is a crypto enhancement tool that is equipped with order customisation tools, market trend analysis, exclusive indicators and a 24-hour chat room to discuss your trades.

On the other hand, the Amazing Trader is a charting algorithmic platform for FX, indices, cryptos and metals, adding to the diversity of platforms Eightcap offers. In addition to built-in risk management, you can also try the platform for free using their 28-day success program. You must hold an account balance of $500 or more, though.

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