Best CFD Trading Platforms Canada

The best CFD trading platforms based on critical trading considerations:

Broker Our Rating Regulation Standard
EUR/USD Spread
Standard
GBP/USD Spread
Standard
AUD/USD Spread
Raw
EUR/USD Spread
Raw
GBP/USD Spread
Raw
AUD/USD Spread
Commissions
(USD Base)
MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage
70 FMA, VFSC
ASIC
1.0 1.32 1.11 0.10 0.42 0.21 $3.50 94ms $100 60+ 12+ 30:1 200:1 Visit Site
61 CIRO, FCA, NFA, CFTC, MAS, JFSA, CIMA 1.2 1.5 1.4 - - - $7.00 30 ms (May 2023) $100 80+ - 33:1 33:1 Visit Site
70 ASIC, FCA
FSCA, CIRO
1.3 1.4 1.7 0.22 0.80 0.40 $3.00 150ms $300 39+ - 30:1 Visit Site
69 ASIC, FCA
MAS, CIRO
1.12 1.30 1.64 0.5 0.9 0.6 $2.50 138ms $0 339+ - 30:1 500:1 Visit Site
64 CIRO, FSCA
ADGM, CBI
0.90 1.5 1.1 - - - - 160ms $100 37+ - 33:1 33:1 Visit Site
75 FCA,ASIC,
CySEC,SCB
1.0 1.0 1.2 0.06 0.73 0.27 $3.50 143ms $100 40+ 250+ 30:1 500:1 Visit Site
82 ASIC, VFSA, FSA-S 0.93 1.08 0.92 0.13 0.21 0.12 $2.25 79ms $0 90+ 10+ 500:1 500:1 Visit Site
 

What Are The Best CFD Trading Platforms For Canadian Traders?

In this comparison of the best CFD Trading Platforms for Canadian traders, we look at the best forex brokers and the trading platforms they offer. There are many other factors to consider too, such as the accounts each broker offers, along with the CFD products available. These are all listed at the bottom of the page.

Here are our top brokers offering the best CFD trading platforms for Canadian traders:

1. OANDA Best CFD Trading Platforms Canada Overall

OANDA

Forex Panel Score

81

Average Spread

EUR/USD = 1.4 GBP/USD = 2 AUD/USD = 1.4

Trading Platforms

MT4, TradingView, OANDA Trade (fx Trade)

Minimum Deposit

$0

Why We Recommend OANDA

We recommend OANDA and its OANDA Trade platform as the best CFD trading platform overall, with good charting tools and a simple interface that is easy to use.

One top feature we liked is that the platform allows you to trade smaller lot sizes than other brokers (below micro-lots), giving you complete control of your position sizes.

We gave OANDA, our highest CRIO-regulated broker, a score of 71/100 for its low trading costs and beginner-friendly services.

Pros & Cons

  • Tight spreads with no commission
  • Solid choice of CFD trading platforms
  • Good position management tools
  • Educational resources are basic
  • No share CFDs
  • It does not offer a RAW trading accoun

Broker Details

OANDA Has A Great Range of CFD Trading Platforms

You have a choice of three trading platforms to trade with using OANDA. Choose OANDA Trade if you want access to third-party tools like AutoChartist and a simplified trading platform so you can execute your trades easily. If you are a scalper, then the MetaTrader 4 is a good choice, with its Expert advisors for automation, one-click trading and Open Order Indicator to help you make quicker trades. Lastly, TradingView is an ideal choice if you like to use technical indicators and trading tools to find chart patterns faster.

We tested OANDA and found that they provided a great trading experience overall with their low spreads and range of trading platforms. We scored OANDA 71/100 in our broker tests using our strict methodology. This ranked OANDA as the best broker in Canada overall and placed in the top 10 worldwide in our tests.

Key Strengths

  • Wide range of CFD trading products
  • Trade gold and silver with different fiat crosses
  • One-click trading for faster execution
  • Low spreads from 0.6 pips with low commission
Pros
  • Extensive range of markets to trade in
  • Can profit from falling markets by going long or short
  • Access to the underlying asset without buying the asset outright
  • Access to the underlying asset without buying the asset outright
Cons
  • Weak industry regulation
  • Potential lack of liquidity
  • Riskier than traditional trading
  • Using leverage can lead to exponential losses if the trade doesn’t go your way

View OANDA ReviewVisit OANDA

OANDA has the Best Range of CFD Trading Platforms in Canada

OANDA’s main trading terminal is the OANDA Trade web platform and mobile app.

The platform has 80 indicators if you are using the web version and 32 the mobile app. It also has 50 drawing tools (11 on mobile) and 11 chart types (9 on mobile) and comes with AutoChartist. Autochartist generates trading signals for you to read and copy).

Beyond the technical analysis features, many users appreciate its clean interface and ability to customise the charts such as with background colours and preferred timeframes.

One unique feature that we have never seen offered on other platforms is the ability to trade with partial lot sizes. This means you can not only trade standard, mini and micro lots but everything in between.

oanda Trade platform-overview

OANDA also offers the popular platform MetaTrader 4, which we recommend for more experienced traders and scalpers. It has 50+ trading indicators, and you can overlay as many indicators on a chart as you want. Some platforms only allow 3 to 5 max. What we like about the MT4 platform is that you can enable one-click trading, which is useful for scalpers to react quickly to the markets.

But OANDA’s premium plugins enhance the entire platform with new trading tools and indicators, such as the OANDA Open Order Book Indicator. This indicator shows you where every open and pending order is based on OANDA’s clients.

This is useful because you can see where most of the orders are placed, helping you gain a short-term market bias. It can also help you place your trades and use them as supply and demand areas.

The last platform OANDA offer is TradingView. This platform is best if you like technical analysis tools and indicators. With TradingView, you get access to over 100+ trading indicators (you can create your own and use them for free) and over 50 drawing tools on the charts too. This includes many tools like the Fibonacci Retracement and Harmonic Pattern tools, and these make drawing the chart patterns out easy.

OANDA has a Standard Account for Simplified Trading Costs

The Standard Account is the only trading account available with OANDA. So you are limited to the choice of spread-only-based pricing, but you do not pay any additional commission when you trade. The spreads from OANDA are competitive, with spreads from 0.6 pips (but typically 1.20 pips), making them one of the lowest CFD brokers in Canada.

OANDA account types Canada

A Strong Selection of Trading Products with OANDA

If you specialize in trading forex or commodities, then OANDA is an excellent choice for you. They have over 120+ products which are heavily focused on 70 currency markets and over 20 precious metal markets. With OANDA, you can access the majors, minors, and exotics in addition to the standard gold and silver offerings.

What sets OANDA apart from other brokers is that they also offer gold and silver with different currency pairs that are not XAU/USD. They have products that offer exposure to XAU/JPY and XAU/EUR, giving you a greater choice when trading gold and silver.

oanda trading products canada

Our Verdict on OANDA

Overall, we like OANDA for its CFD Trading Platforms. They appeal to a wide range of traders and offer a strong selection of trading products. OANDA is an ideal choice if you are a beginner, thanks to its helpful trading tools like AutoChartist and simplified pricing with the standard account.

View OANDA ReviewVisit OANDA

2. TMGM Top Broker with High Leverage on MetaTrader 4

TMGM

Forex Panel Score

70

Average Spread

EUR/USD = 0.1 GBP/USD = 0.42 AUD/USD = 0.21

Trading Platforms

MT4, MT5

Minimum Deposit

$100

Why We Recommend TMGM

TMGM is our top pick if you want access to higher leverage with up to 1:500 leverage on majors.

We think TMGM pairs nicely with MetaTrader 4. In our tests, the broker had one of the lowest average RAW spreads, 0.32 pips, placing it in the top three.

You’ll also find that TMGM has an impressive selection of 12,000+ markets you can take advantage of with higher leverage.

Pros & Cons

  • High leverage available
  • Fast execution times
  • Tight spreads
  • Limited range of forex pairs
  • Not CIRO regulated
  • Limited educational resources

Broker Details

TMGM Offers 1:500 Leverage to Canadian Traders

With TMGM, you place your trades through the MetaTrader 4 platform, which is an excellent platform that is ideal for a range of traders. Where TMGM shines on our list is that they can offer you leverage up to 1:500. This makes TMGM a solid choice if you prefer to trade with lower margins and appreciate the added risk of using higher leverage, especially when you cannot trade higher than 1:50 from a CIRO-regulated broker.

Key Strengths:

  • Fast execution through its ECN
  • Low trading costs
  • Free technical analysis tools
  • High leverage available to Canadian traders

TMGM uses MetaTrader 4 Platform

We like that TMGM uses the MetaTrader 4 platform, which is one of the best CFD trading platforms available. It’s a top platform because it has over 30 technical indicators and drawing tools that you can use to plot your charts. What we like about MT4 is that you can have unlimited indicators on one chart, unlike other platforms like TradingView, which is capped at 25 per chart.

In addition, thanks to MetaTrader 4’s customizability through their MQL programming language, you can code your own technical indicators (and even automate them with an EA). If you don’t know how to code, then you can access the MT4 market place which has thousands of unique indicators created by other programmers. This allows you to find an indicator that works for you because not all forex traders will benefit from the standard technical indicators that come with MT4.

So if you have 5+ indicators on your charts or have personalized trading indicators, then the MetaTrader 4 is the best CFD trading platform available for you.

TMGM Trading Platforms

Trade with leverage up to 1:500 with TMGM

TMGM offers Canadian traders to bypass the CIRO capped leverage of 1:50 and instead trade with leverage up to 1:500 on forex. TMGM can do this through their Vanuatu Financial Services Commission (VFSC) entity, which allows them to accept Canadian traders. This offers you an excellent opportunity to trade with higher leverage which is impossible with CIRO-regulated brokers.

Get Low Spread Trading Accounts with TMGM

You can choose between two trading accounts with TMGM, which are the Classic and the EDGE accounts. The Classic account is a no-frills spread-only trading account, and their spreads start from one pip, which is competitive for Canadian brokers.

The Edge account is a top choice if you are an active trader. The spreads on this account start from 0.0 pips on EUR/USD. However, you must pay a commission to get these lower spreads, which is only CAD$9 round-turn per lot traded. Although, with typical spreads at 0.0 pips, this works out cheaper than the classic account.

Alternatively, if you only want to focus on share CFDs, then you can open a IRESS account which provides direct market access to share markets. However, you cannot trade forex or any other assets on this account. With that said, you do get access to IRESS Viewpoint, which is one of the best CFD trading platforms when it comes to trading shares. It has direct market access to six exchanges, low commissions (starting from $1.8 per share), and advanced trading charts that come bundled with 50+ technical indicators and drawings to help with your analysis.

tmgm account types and products canada

Our Verdict on TMGM

With capped leverage of 1:50 by CIRO-regulated brokers, it’s nice that there is an option for Canadian traders to use TMGM as a broker with higher leverage. TMGM also provides an excellent trading service with their low spreads and ECN executions that improve execution speeds on the MetaTrader 4 platform. Making TMGM is a solid choice if you want to trade with higher leverage on the forex markets.

3. FOREX.com Top Analysis Tools Like TradingView Charts

FOREX.com

Forex Panel Score

61

Average Spread

EUR/USD = 0.8 GBP/USD = 0.8 AUD/USD = 1.7

Trading Platforms

MT4, MT5, FOREX.com Trading Platform

Minimum Deposit

$100

Why We Recommend FOREX.com

We recommend Forex.com for its excellent trading tools and platform choices, which include top technical chart platforms like TradingView.

Also, we think the TradingView platform works nicely with Forex.com’s 80+ currency pairs, as you’ll benefit from advanced charting tools to monitor each market automatically with its built-in scanner.

What we like most is its low spreads that averaged 0.1 pips on EUR/USD for its RAW account, which means you save money on each trade.

Pros & Cons

  • Works with TradingView
  • Low RAW spreads
  • Solid range of currency markets
  • Client support isn’t 24/7
  • Not all tools available to Canadian traders
  • Requires a minimum deposit

Broker Details

FOREX.com trading platform has a wealth of charts and indicators

FOREX.com is a wholly owned subsidiary of StoneX Group Inc. (NASDAQ: SNEX), which also owns CityIndex, another well-known global broker. Notable features of Forex.com include an extensive range of markets, the Forex.com Trading Platform.

Key advantages:

  • Feature-rich Trading Platform
  • Low commission trading
  • Dedicated support
  • Access to multiple Financial Instruments

Trading Accounts And Products

There are two account options when trading with FOREX.com, the Standard and the RAW Pricing Account.

Like all standard accounts, FOREX.com offers no commission on trades. Spreads start at 1.0 pips which may seem high compared to the RAW Trading account, but this is because the brokers’ trading fees are included in the spread. With a minimum deposit amount of $100, this account works well for beginner traders.

The RAW Pricing account has a low minimum spread of 0.0 pips and a commission of $7.00 sideways and $14.00 round-turn for each standard lot.

forex-com account types and products for canadian traders 1.2

FOREX.com offers the most extensive range of products if you trade using a standard account. Over 80 forex pairs are available and CFD 1000+ stocks along with indices and hard and soft commodities.

Trading Platforms

FOREX.com allows you to choose from their in-house developed Trading platform.

The FOREX.com Trading Platform provides 80+ technical indicators, over 10 time intervals and 50 drawing tools to help you analyse the information at hand. Additional tools are also provided to help you make decisions such as technical insights to find support levels and Market Buzz for market sentiment.

The popular MetaTrader 4 trading platform is also available for traders looking for a mainstream trading platform. This account is only available with a Standard account.

MetaTrader 5 is also available, this is a superior choice to MetaTrader 4 since not only does it have more trading tools for analysis, you can trade all the CFD stocks FOREX.com offers. You can use this platform with either the MetaTrader or RAW Pricing account.

If you’re still wondering what platform you should use, then FOREX.com offer a demo account where you can test out platforms without exposing yourself to the financial markets. These accounts allow you to trade in real-time using $10,000 of virtual money.

forex.com trading platforms canada

Our Verdict on FOREX.com

FOREX.com could be perfect for your needs if you’re an advanced CFD trader who needs to access multiple trading products. The RAW Pricing account has the broker’s tightest spreads and has competitive commissions. Traders using the Forex.com trading platform will appreciate the analysis tools available for market analysis.

4. Friedberg Powered By FXCM Good Automation With Trading Station

Friedberg Powered By FXCM

Forex Panel Score

72

Average Spread

EUR/USD = 0.3 GBP/USD = 0.9 AUD/USD = 0.4

Trading Platforms

MT4, TradingView, Trading Station, Capitalise.ai

Minimum Deposit

$50

Why We Recommend FXCM

FXCM is a top choice if you want to automate your trades, offering a range of platforms that can get the job done for you. We’re impressed with its TradingStation platform, which includes a built-in optimization tool that lets you test and refine your strategies using historical data.

We like that FXCM offers competitive spreads averaging 0.2 pips for EUR/USD, so you won’t have wide spreads while automating your trades.

Pros & Cons

  • Top platform for automating trades
  • Competitive RAW average spreads
  • Good variety of trading tools
  • Lacks TradingView/MT5 support
  • Has a minimum deposit requirement
  • It has a large minimum deposit
  • Limited customer support hours
  • No MetaTrader 5/TradingView platforms

Broker Details

friedberg direct fxcm canada cfd

Trading Station with FXCM has apps to automate trading

Friedberg Direct has teamed with global broker FXCM to bring FXCM’s unique CFD products to traders in Canada. With competitive commission costs, Friedberg Direct Powered by FXCM Technology provides good trading conditions to take advantage of the automation features with the broker’s proprietary trading platform, ‘Trading Station’.

Key Features with Friedberg Direct, powered by FXCM:

  • Low Commissions on Active Trader accounts
  • FXCM proprietary platform ‘Trading Station’
  • Automation with Trading Station, MetaTrader 4
  • Forex, Commodities and Indices Trading
  • Extensive online support

Trading Accounts and Products

Friedberg Direct with FXCM offers two trading accounts, CFD account and Active Trader account. Both provide similar spreads, however, users with Active Trader accounts will benefit from lower commissions if prepared to start with significantly higher minimum deposits.

Spreads with the CFD account start at 0.2 pips and come with commission costs of $14 for major forex pairs and $18 for minor pairs (round turn) for each standard lot you trade. Major pairs include USD/CAD, EUR/USD, GBP/USD, USD/JPY and USD/CHF. To open a CFD account, a minimum deposit of $5,000 is required and can be paid in either CAD or USD currency.

The Active Trader account will appeal to high-volume traders due to their commission costs which can be up to 67% lower than the CFD account. Commissions costs are $8.00 (round-turn) for each lot but can be as low as $6.00 if you trade over $150m the previous month. To use this account, a minimum deposit of $25,000 will be required.

friedberg direct fxcm account types products brief canada

Friedberg Direct with FXCM offers 41 Forex pairs for trade, which can be considered low given forex brokers commonly have 60-90 pairs. Despite this, the most popular pairs for trade are available so the lack of pairs to trade is fine unless you are specifically looking to trade niche pairs. Leverage when trading forex is typically 20:1 to 33:1 but can be up to 50:1.

Other trading options with FXCM include hard commodities such as gold, silver, oil, and gas, as well soft commodities like wheat, corn and soy. Up to 12 stock indices and 1 treasury are also available.

Trading Platforms

Friedberg Direct with FXCM offers two trading platforms with each suited for different trading needs. The first is FXCM’s very own Forex and CFD platform called Trading Station. The second option is the mainstream MetaTrader 4 platform. Regardless of your choice, you can download the platforms to Windows or macOS desktops and use them as a mobile app on iOS and Android or via a WebTrader on your browser.

The desktop version of ‘Trading Station’ strengths lay in its charting and automation. With this platform, you can trade directly from charts, which can be customised to your liking. You can also expand charts to fill your screen and detach them for use on a second monitor. In addition to an extensive range of pre-loaded indicators, you also get access to technical analysis and fundamental data.

Trading Station is also unique because it allows automation, which is quite unusual for a broker’s in-house developed trading platform. With just a few clicks, automated strategies can be added using Strategy Optimizer, which consists of sortable fields so you can define your preferred strategy conditions.

The WebTrader version – Trading Station Web 2.0 is built using HTML5. This not only gives the platform a more modern and cleaner but comes with a wealth of features such as education and, research, trading analytics.

MetaTrader 4 is a good alternative if you are looking for a more familiar trading platform.

friedberg-direct-powered by fxcm technology canada trading platform

Our Verdict on Friedberg With FXCM Technology

Friedberg Direct, powered by FXCM technology, is another popular broker offering feature-rich CFD platforms for traders. Product offerings aren’t as robust as other CFD brokers, but with lower commission costs, especially with the Active Trader account, this broker is a good option for high-volume traders.

5. CMC Markets NGEN Platform Is Great For Risk Management

CMC Markets

Forex Panel Score

69

Average Spread

EUR/USD = 0.5 GBP/USD = 0.9 AUD/USD = 0.6

Trading Platforms

MT4, CMC NGEN

Minimum Deposit

$0

Why We Recommend CMC Markets

CMC Markets trading platform is one of the best broker platforms we’ve tested, making it an easy recommendation. As a bonus, the broker has tight spreads from 0.5 pips with no commission.

The NGEN platform has a range of tools to help you get more out of your trading day, but in particular, the platform has guaranteed stop-loss orders. We like seeing brokers offer these as they can help you limit your losses during volatile times.

Pros & Cons

  • Decent spreads with Standard and RAW accounts
  • No minimum deposit
  • NGEN is an excellent trading platform
  • No automated trading with the NGEN platform
  • Only offers support during trading hours
  • Lacks social trading tools

Broker Details

CMC Markets NGEN has a solid range of indicators and backtesting

Founded in 1989 in the UK and with hubs also in Australia, Singapore and Toronto, CMC Markets is one of the first brokers to offer online CD trading services. In addition to over 300 currency pairs (the largest selection of all brokers), shares, indices, treasuries and commodities are also available. You can access these financial products via their in-house Next Generation platform which has an excellent range of indicators and charts and the MetaTrader 4 Platform.

This broker has the following stand-out features:

  • Huge variety of FX pairs & CDs
  • Next-Generation Platform with a wealth of indicators and charts
  • In-depth Trading Guides and education material
  • 24/7 Customer Support

Trading Accounts and Products

The CFD Standard account has no commission costs meaning spreads are wider to cover the brokers’ trading fees. Spreads with this account start from 0.7 pips for major pairs such as EUR/USD, while minor pairs are from 1.0 pips. As this account has no commission costs, it is popular with less experienced traders since the cost structure is more simple to implement.

The FX Active account is more popular with experienced traders as spreads are tighter despite having commission costs. Spreads start from 0.0 pips for the most traded pairs, while other forex pairs are 25% less than what you would pay for with the Standard account. Commission costs are 0.0025% per transaction which equates to $5.00 (round-turn) for each 100,000 lot.

CMC Markets uses an automated dealing desk model, which means the broker acts as a market maker but applies the same prices offered by liquidity providers. The brokers’ pricing engine looks at the spreads quoted by providers such as JP Morgan, Barclays and USB and provides the ‘best’ or most representative price. At no stage does CMC Market change the spreads from their end.

cmc markets account type canada

CMC Markets’ range of contracts for difference products is more diverse than most other CIRO-regulated brokers. 330 forex pairs are available with CMC Markets Next Generation trading platform, while175 pairs are available with MetaTrader 4. Regardless of which platform one uses, CMC Markets’ range of pairs for trade is comfortably larger than any other broker in the market.

The brokers’ range of products isn’t just limited to Forex, stocks (and ETFs), indices and even bonds/treasuries are also available. Traders wanting to trade commodities can choose between hard commodities such as precious metals and energies or soft commodities such as corn, coffee, cocoa and wheat. All CFD products are commission free except stocks – US and Canadian stocks are 1 cent a share with the other 21 markets being between 0.08 to 0.18% per share.

Trading Platforms

CMC Next Generation is the in-house platform created by CMC Markets and has a range of features valuable for experienced and new traders alike. The range of charting tools is a strong point of the package. They help you perform good technical analysis so you can make trading decisions while trading financial instruments.

The charting package has multiple tools, including:

  • 115+ Technical Indicators
  • 70 Chart Patterns
  • 12 Built-In Chart Types
  • 35 Drawing tools

One interesting product with this platform is the pattern recognition scanner. This tool does the technical analysis of charts so patterns in price action can be identified. This will assist you with making decisions on entry and exit points for your trades.

CMC Next Generation has compatibility with multiple devices and platforms, making it easy to keep track of your trades at home or while travelling. This platform is available on Windows desktops, web browsers, and mobile apps (iOS and Android).

cmc markets next generation platform

MetaTrader 4 is the most popular platform for Forex traders, so it would make sense for CMC Markets to include this in their offerings. The platform gives users a range of features for most trading strategies, including advanced order types, technical analysis and a user-friendly interface. While the range of products is not as extensive as Next Generation, it does offer Expert Advisors, so you can automate your trading and create custom indicators, a feature not available with Next Generation.

Brief Conclusion

CMC Markets Next Generation trading platform stands out for its range of charting and technical indicators along. Choosing this platform also gives you access to the broker’s full range of trading products. Of particular note is 330 forex pairs; this is comfortably more pairs than any other broker offers. Better yet, you can choose between the commission and no-commission accounts. MetaTrader 4 is also available for traders wanting a more familiar trading platform or to automate their trading.

Brokers Accepting Canadian Traders (not regulated by CIRO)

As a Canadian resident, you should be choosing a CIRO-regulated broker, however, non-residents based in Canada may wish to consider an offshore broker. With a broader pool of brokers to choose from, you will be able to trade with more trading products, such as cryptocurrencies and trading platforms, such as MetaTrader 5. You will also be able to trade with greater leverage – up to 500:1.

The following are brokers we recommend that traders based in most parts of Canada can access and have regulation (albeit not CIRO regulation).

6. Fusion Markets Low Commission And Spreads With MT4 And MT5

Fusion Markets

Forex Panel Score

82

Average Spread

EUR/USD = 0.13 GBP/USD = 0.21 AUD/USD = 0.12

Trading Platforms

MT4, MT5, cTrader

Minimum Deposit

$0

Why We Recommend Fusion Markets

Fusion Markets is a broker we highly rated (giving it 71/100) for its tight average RAW spreads, lowest commissions, and fastest execution speed tested – an excellent combination.

In our testing, Fusion Markets charged the lowest commission of $2.25 per lot traded, which is $4.75 lower than FXCM’s ($7.00). We think Fusion Markets is a top choice if you are a scalper, as the lower fees will boost your bottom line.

Pros & Cons

  • Cheapest commissions available
  • Fast execution times
  • Good range of trading tools for free
  • Limited range of markets
  • A minimum deposit is needed
  • Has an inactivity fee

Broker Details

MT4 and MT5 with Fusion Markets have lows costs

Australian-based forex broker Fusion Markets was founded in 2017. The brokerage has been able to attract users thanks to its extra low commissions – an extra 36% lower on average than other brokers. Fusion Markets provide over 90 forex pairs, stock indices and even cryptocurrency.

Fusion Markets is a no-dealing desk STP broker which means the broker uses top-tier liquidity providers to bring you the best available bid and ask prices with no human intervention. Furthermore, Fusion Markets is 50% owned by an institutional Forex Broker which also contributes to the broker’s ability to bring lower prices.

Key Features with Fusion Markets:

  • Lowest Forex trading commissions and tight spreads
  • No minimum deposit to open accounts
  • $0 commission for shares (CFD)
  • No deposit and withdrawal fees

Traders with Fusion Markets can choose between their Seychelles entity which is regulated by the Financial Services Authority of Seychelles (FSA) or the Vanuatu subsidiary. This entity is regulated by the Vanuatu Financial Services Commission (VFSC). Trading conditions are the same for each division.

Trading Accounts And Products

Fusion Markets have two offerings that may appeal depending on your trading style: the Classic Account and Zero Account.

The Classic Account is popular for traders after simplicity as it has no commission costs. The broker features competitive fees for its Classic account with variable spreads from 0.8 pips.

Unlike the Classic Account, The Zero Account has lower spreads but has commission costs. Spreads start from 0.0 pips but have a commission of CAD $6.00 and USD $4.50 for each lot you trade (round-turn). These commission costs compare very well to their competitors, while some brokers on this list do have lower commission costs, you will have needed to trade in significant volumes (over 150m) to receive such discounts the following month.

Regardless of which account you use, there are no minimum deposit costs to open an account. There are also no fees when depositing into or from your trading account.

Fusion Markets Products Canada

Fusion Markets offers over Forex 90 pairs for trade which is quite extensive in this industry. These pairs can be traded using leverage as high as 1:500 and permit scalping. Traders can choose between micro, mini and standard lot sizes.

Gold can be traded against USA, AUD and EUR and Silver again USD and EUR. These unique cross-pairs may appeal if you like metals. Other metals include Palladium, Platinum, Aluminium, Copper, Lead, Nickel and Zinc.

Contract for difference share trading on the US Stock Markets (NASDAQ and NYSE) is also available. With this broker, you will not need to pay any commissions when trading stocks. Even better, you can hedge your positions by going long or short meaning you can profit from rising and falling prices. To trade stocks with Fusion you will need to use MetaTrader 5 trading platforms.

Trading Platforms

Fusion Markets have integration with some of the most popular trading platforms. You will have access to MetaTrader 4 and MetaTrader 5 which are made by MetaQuotes through this online broker. You can also engage in social or copy trading using Myfxbook Autotrade and DupliTrade.

MetaTrader 4 is the most popular trading platform for both brokers and traders. So you can be sure you are getting value should you go with this platform. With 30 built-in technical indicators, 31 graphical objects and 9 timeframes and unlimited charts, MT4 provide the essential technical analysis tools to help you make reading decisions. If this is not enough, over 2,000 customer indicators are available from Code Base and 700 paid from the MT4 marketplace, you can even create your own using MQL4.

MQL4 also allows you to create custom Expert Advisors so you can automate your trades, Code Base and MT4 Marketplace also contain a wealth of pre-scripted algorithms you can use. Strategy Tester is provided so you can test run these EAs before using your funds.

MetaTrader 5 is a recent addition to Fusion Markets’ offerings. With 38 technical indicators, 44 graphical objects and 21 timeframes MT5 is not only an upgrade on MT4 but brings retail traders closer to professional trading conditions.

MT5 is also a better choice when it comes to the range of markets available as it is built to offer centralised and decentralised products. For this reason, MT5 is best for share trading. The platform also has Depth of Market (Level II trading) so you can see all the best prices in the market so can ensure you get the best possible prices.

fusion markets trading platform

Users may also be interested in Myfxbook or DupliTrade.. They are popular for users wanting to use social trading so they can copy trades of professional traders.

Brief Conclusion

The lower commissions and spreads are a stand-out factor for Fusion Markets. With 90 forex pairs, this broker is worthy of top consideration if forex is the derivative you wish to trade. MetaTrader 4 and MetaTrader 5 trading platforms along with Myfxbook and DupliTrader for social trading, ensure your platform needs are comfortably satisfied.

7. Eightcap Great Platform Options for Crypto Trading

Eightcap

Forex Panel Score

75

Average Spread

EUR/USD = 0.06 GBP/USD = 0.73 AUD/USD = 0.27

Trading Platforms

MT4, MT5, TradingView, Capitalise.ai

Minimum Deposit

$100

Why We Recommend Eightcap

We recommend Eightcap as our top pick for crypto trading because it offers a wide range of 95 cryptocurrencies to trade, from Bitcoin to XRP.

Alongside crypto markets, Eightcap offers commodities, indices, shares, and forex CFDs with low spreads, averaging 0.06 pips on EUR/USD.

Pros & Cons

  • Top choice of crypto markets
  • Decent RAW spreads on FX
  • Solid choice of trading platforms
  • The choice of markets is low
  • Customer support isn’t available over weekends
  • Need a minimum deposit to open an account

Broker Details

Eightcap is our recommendation for crypto trading

Founded in 2009, Eightcap is an Australian Forex broker that distinguishes itself from its competitors by offering an exceptionally large cryptocurrency range. The broker also has a unique range of trading platforms and tools.

This broker brings you ECN-like pricing by connecting you with top-tier liquidity providers using STP execution and no dealing desk. Or this reason, you can expect spreads that compete well with the best online brokers in the market.

Key Features:

  • Largest range of CD cryptos in the industry
  • Unique choice of trading platforms including Capitalise.ai
  • Good choice of funding methods
  • Personalised customer service

Trading Accounts And Products

Eightcap offers two retail investor accounts, a Raw and a Standard account. As with most online brokers, the difference in account types is in the commission, with both accounts offering different fee structures that may appeal to different experience levels.

For those that start trading, the standard account keeps your Forex trading costs simple since there are no commission costs. As there are no commission costs, the spreads are wider than the raw account but still competitive, typically around 0.5-1.5 pips.

The Raw account differs from the Standard account as you will have commission costs. You will pay 7 CAD or 7 USD (round-turn) for each 100,000 lot you trade plus the spread which is often as low as 0.0 pips. While costs with this account are only slightly lower than with the Standard account, it can result in significant savings for high-volume traders.

eightcap account types canada

As well as 46 Forex pairs, you can trade over 86 cryptocurrency derivatives which is one of the most extensive CFD crypto offerings of all CFD brokers. Leverage is up to 500:1.

eigthcap Cryptocyrrencies

As for leverage, forex leverage can be up to 500:1 for all currency pairs however there may be limits depending on how much equity you have in your online trading account. Leverage for crypto trading is 20:1.

Trading Platforms

With a wide array of trading platforms available, Eightcap caters to a variety of traders looking to have greater access to the market. Along with MT4 and MT5, you’ll find some helpful trading tools and platforms to use.

Eightcap offers Metatrader 4, which is one of the most popular platforms for trading Forex CFDs. In addition to the usual range of charts, indicators and pending orders, this platform gives you the ability to automate trades or create custom indicators using EAs (Expert Advisors). EAs can be purchased or created yourself using MQL4.

MetaTrader 5 in many ways is an upgraded version of MetaTrader 4. It will feel very familiar to MT4 in terms of interface and functionality (but with even more charts, indicators and timeframes). There are however some differences – MT5 for example allows you to trade more markets than MT4. This is because MT5 (unlike MT4) has native gateways that allow connectivity with global (central) exchanges thus allowing for trading with more stocks and many cryptos than with MT4.

You can also use TradingView, which is a popular platform for charting and technical analysis. Users have access to over 100,000 community-built indicators and the ability to add their own scripts giving multiple options for individual traders. Keep in mind the platform is only available to those who use the Standard Account, so any traders using the Raw Account may have to wait until Eightcap release TradingView functionality.

Capitalise.ai is the last platform available with Eightcap. The platform gives you the ability to automate trading effortlessly as no coding experience is necessary to create algorithms.

eightcap trading platform

Apart from the featured platforms, Eightcap provides additional tools to help you trade better. The Amazing Trader provides advanced trading algorithms to help you with identifying trading levels for you to act on when trading. Another tool is Cryptocrusher which is useful for creating custom trading strategies, indicators and charts for deeper data analysis when crypto trading.

Brief Conclusion

Eightcap has a good variety of products and competitive fees but what makes them shine is their crypto offerings. The broker is still a good choice for forex trading thanks to their ECN like no dealing trading execution which means tight spreads. The broker also has an excellent range of trading platforms to choose from, especially if you wish to automate your trading.

8. Friedberg Powered By Avatrade Fixed Spreads With Metatrader

Friedberg Powered By Avatrade

Forex Panel Score

64

Average Spread

EUR/USD = 0.9 GBP/USD = 1.5 AUD/USD = 1.1

Trading Platforms

MT4, MT5, AvaTradeGo, AvaOptions

Minimum Deposit

$100

Why We Recommend AvaTrade

We recommend AvaTrade because it really stands out with its fixed spreads starting from just 0.6 pips on EUR/USD. These spreads are surprisingly low compared to other brokers, which often have variable spreads averaging around one pip or more.

AvaTrade earned a respectable score of 64/100 in our review, impressing us with its range of markets and trading platforms, like the popular MetaTrader 4.

Pros & Cons

  • Competitive low-fixed spreads
  • Good variety of market
  • Has MT4 and MT5 platforms
  • Charges inactivity fees
  • AvaTradeGO is unavailable in Canada
  • Customer support could be available for more hours

Broker Details

Friedberg Direct Powered by AvaTrade spreads that are (mostly) fixed With MetaTrader

Friedberg Direct offers access to CFD trading in partnership with AvaTrade. This broker provides 37 forex pairs with fixed spreads or as options. Clients with Friedberg Direct powered by Avatrade Technology can choose from 4 trading platforms, including MetaTrader4 and AvaOptions.

Friedberg Direct Powered by AvaTrade offers key features:

  • Competitive fixed spreads
  • AvaOptions, MT4 and MT5 trading platforms
  • Over 700 CFD trading products
  • Trading of CFD Forex options

Trading Accounts And Products

Friedberg Direct with AvaTrade only offers a no-commission trading account. The Standard Account has spreads that start from 0.6 pips.

To open a Standard Account using Friedberg Direct with AvaTrade, you will need to deposit $300 CAD or $250 USD, depending on your current account currency. Deposits can be made using Visa or MasterCard credit cards or bank transfers.

Friedberg Direct with AvaTrade has 37 Forex currency pairs available to trade using. While this is lower than other brokers, Avatrade also offers forex (along with gold and silver) as vanilla options, something uncommon with CFD brokers. Options trading allows traders to buy or sell contracts at an agreed price and date in the future which can be useful with hedging. To trade options, AvaTrade provides AvaOptions which is built specifically for this type of derivates trading.

Traders also can trade other financial products, including up to 22 commodities. Products include hard commodities such as 4 precious metals and 5 energies along and 10 soft commodities including sugar, cocoa, and soybeans.

Trading Platforms

Most traders with AvaTrade will use either MetaTrader 4 or MetaTrader 5 to execute orders. MetaTrader 4 is the most popular trading platform due to its range of charts and indicators helping you make your trading decisions. The updated version, MetaTrader 5, has many of the same features but with even more trading charts and powerful tools to help you with your trading.

Regardless of which MetaTrader platform you prefer, both have the feature of accessing Expert Advisors (EAs) to help create your custom indicators or automate your trading using algorithms.

mt4 vs mt5

You are also able to access AvaTrades’ custom platform ‘WebTrader, ’ which is available for use on web browsers. While not as feature-rich as MetaTrader, it does include AvaProtect, which allows you to protect your trades for a period of time of your choosing after opening your position. If price movements don’t go in your favour, your trades can be reversed and your costs recovered.

Another common way to protect your trades is through the use of options, luckily AvaTrade offers AvaOptions for this. This platform gives you the ability to trade 40 currency pairs plus gold and silver along with any combination of call and put options to hedge your risk.

avatrade trading platfroms canada

Our Verdict on Friedberg With Avatrade Technology

Friedberg Direct Powered by AvaTrade stands out based on their low fixed spread on their standard account as well as the ability to trade options and commodities. Traders can use both MetaTrader 4 and MetaTrader 5 platforms as well as AvaTrade web platform and AvaOptions.