Best Trading Platforms, Brokers & Apps in Canada

Traders looking to trade forex and invest in stocks, commodities, and more using CFDs and derivatives in Canada have plenty of options to choose from.

There is a range of great trading platforms, brokers, and apps available on the Canadian market, and you can read more about them below. However, traders also need to be aware of Canada’s rather confusing trading regulations as well as what to look out for when picking an online broker.

Therefore, we’ve outlined all of the most important things to remember when starting to trade in Canada.

Best Stock Trading Brokers & Platforms in Canada

1. CMC MARKETS

#
Award-winning ONline stockbroker

2. forex.com

#
trade stocks on a cfd/forex platform
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

Compare the Best Stock Trading Platforms & Brokers in Canada

1. Cmc Markets
2. forex.com
Fees
Spread on Amazon0,08%0.4 points
Commission
Withdrawal Fee$150%
Deposit & Withdraw
Minimum Deposit N/A$250
Bank Transfer
Credit/Debit Card
Electronic wallets
Time to Withdraw1-2 Days1-3 Days
Assets & Platforms
How Many Stocks9,400220
PlatformMetaTrader 4MetaTrader 4 + 5
Mobile App
Support & Safety
24/7 Availability
Free Account Manager
RegulationIIROCIIROC
Based inThe UKNew Jersey
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

What Makes a good Stock Trading platform & broker in Canada?

Stocks are one of the most exciting and popular instruments to invest in and trade within Canada and elsewhere in the world.

Because of this, traders have become increasingly more picky when it comes to the stock trading platforms they use.

In turn, this has resulted in an upswing of great platforms to choose between.

When testing all the top online stock brokers in Canada, we follow very strict guidelines that we’ve been optimizing for several years.

The first thing we look at when testing a new broker in Canada is regulation. As mentioned, online trading regulations in Canada can be rather confusing.

In some provinces, you are allowed to trade, while in others all types of trading with online brokers are banned.

However, on a national level, trading is legal, and it’s the Investment Industry Regulatory Organization of Canada (IIROC) that oversees the industry. It’s their job to issue trading licenses and make sure that brokers and traders alike abide by the law.

Therefore, before we even start testing the best stockbrokers in Canada, we have to ensure that the broker is licensed and regulated by the IIROC. As soon as we’ve confirmed that, we move on to the reviewing process.

Another crucial aspect of a good Canadian stockbroker is the selection of tradable stocks they offer.

At a very minimum, the best stock trading platforms should support some of the biggest US and UK shares, but we prefer brokers with an even bigger selection.

Lastly, before deciding whether to recommend a broker or not, we put the brokers’ platforms through rigorous testing.

This is the most time-consuming part of the test but also one of the most important. The purpose of an online trading platform is to make trading easier and anyone that fails to do that, won’t get our recommendation. At this point, we also make sure all of the fees, spread, and additional costs are fair.

At last, after many hours of testing and reviewing, the broker either makes it to our top list or not.

Best Forex Brokers & Platforms in Canada

1. forex.com

#
trade forex like the professionals

2. cmc markets

#
great all-round platform for forex

3. oanda

#
leading forex broker in north america
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

Compare the Best Forex Trading Platforms & Brokers in canada

1. forex.com
2. cmc markets
3. oanda
Fees
Spread for EUR/USD1.2 pips0.7 pips1.3 pips
Commission
Withdrawal Fee$0$15N/A
Deposit & Withdraw
Minimum Deposit $50$0$0
Bank Transfer
Credit/Debit Card
Electronic wallets
Time to Withdraw1-2 Days1-2 Days1+ Day
Assets & Platforms
How Many Currency Pairs80+33070
PlatformsMetaTrader 4MT4 + CMC MarketsOanda + MT4
Mobile App
Support & Safety
24/7 Availability
Free Account Manager
RegulationIIROCIIROCIIROC
Based inNew Jerseythe UKNYC
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.

What Makes a Good Forex Trading Platform & Broker in Canada?

Forex trading is exciting and fast-paced which means you have to find a broker that you can rely on.

But what exactly should you expect from the best forex brokers in Canada?

Thanks to our many years of experience from the industry, we have the answer you’re looking for, and it might be more simple than you think.

We normally evaluate brokers by looking at three distinct aspects: legality (regulation), number of assets (selection), and the platform (including commission, fees).

Making sure that a forex broker in Canada is operating legally is the easiest part. All online brokers in Canada must receive a license from the Investment Industry Regulatory Organization of Canada (IIROC).

This information is usually found at the bottom of a broker’s website in case you want to double-check it yourself, and there is also a database on the IIROC.

After confirming that a broker is safe to use, we check the number of assets.

The forex market is the biggest financial market in the world, and there is no reason for brokers to hold back.

Therefore, any broker that doesn’t have at least all the majors and minors as well as a couple of exotic pairs will likely not be recommended.

Lastly, we open an account with the broker and put their Canadian forex platform through detailed testing. We use both a regular trading account as well as a demo account to ensure that the execution is smooth, all the necessary tools are available, and that fees are reasonable.

As you probably understand, a regulated forex broker with a good selection of currency pairs but a poor trading platform isn’t worth much.

That is why we spend so much time testing each and every broker in detail.

In the end, we make an assessment based on all of the above when deciding if we want to recommend a broker or not.

Best Commodities Trading Platforms & Brokers in Canada

1. oanda

#
commodities trading with top broker

2. cmc markets

#
globally recognized commodities broker

3. forex.com

#
amazing cfd trading platform and app
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.

Compare the Best Commodities Trading Platforms & Brokers in Canada

1. Oanda
2. cmc markets
3. forex.com
Fees
Spread for Spot Gold250.3 pointsN/A
Commission
Withdrawal FeeN/A$15$0
Deposits & Withdrawals
Minimum Deposit $0N/A$250
Bank Transfer
Credit/Debit Card
Electronic wallets
Time to Withdraw1-2 Days1-2 Days1-2 Days
Assets & Platforms
How Many Commodities122911
PlatformsOanda + MT4MT4 + CMC MarketsMetaTrader 4
Mobile App
Support & Safety
24/7 Availability
Free Account Manager
RegulationIIROCIIROCIIROC
Based inNYCthe UKNew Jersey
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

What makes a good Commodity Trading Platform & Broker in Canada?

Similar to all kinds of brokers, there are certain specific aspects that separate the best commodity brokers in Canada from the rest.

First and foremost, all online brokers in Canada have to be regulated and licensed by the Investment Industry Regulatory Organization of Canada (IIROC).

So before you do anything else, you have to confirm that the broker is licensed. This information is normally available at the bottom of each broker’s website, but it’s also listed on the IIROC’s site.

With that out of the way, you want to check the selection of commodities on offer.

Keep in mind that many Canadian commodities brokers split their commodities up into different classes such as Precious Metals, Energy, and Food while others list them all together.

As per usual, the more the merrier, but with commodities, the most important aspect is to make sure that the commodities you want to trade are available.

Lastly, for a broker to be considered one of the best commodities brokers in Canada, the platform they offer must be state of the art.

To ensure this, we have spent well over 150 hours testing, reviewing, and trading with all the brokers recommended on this page.

When testing a broker, we use both a demo account and a regular account, and we test all the available tools, different markets, check spreads and fees, etc.

If we’re happy with the results after all this, we consider the broker to be a top choice and it ends up on this page.

Best Indices Trading Platforms & Brokers in Canada

1. cmc markets

#
world-RENOWNED cfd trading tools

2. oanda

#
first-hand broker pick for many canadians

3. forex.com

#
world’s largest stock indices on offer
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

Compare the Best Indices Trading Platforms & Brokers in Canada

1. cmc markets
2. oanda
3. forex.com
Fees
Spread for Germany 301 – 4 points2.5 points1 point
Commission
Withdrawal Fee$15N/A$0
Deposits & Withdrawals
Minimum Deposit N/A$0$250
Bank Transfer
Credit/Debit Card
Electronic wallets
Time to Withdraw1 Day1-2 Days1 Day
Assets & Platforms
How Many Indices901418
PlatformMT4 + CMC MarketsOanda + MT4MetaTrader 4
Mobile App
Support & Safety
24/7 Availability
Free Account Manager
RegulationIIROCIIROCIIROC
Based inThe UKNYCNew Jersey
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

What Makes a Good Indices Trading Platform & Broker in Canada?

Many traders think the index market is one of the most exciting in the world. The reason for this being that there are indices based on pretty much any and all instruments in the world.

The most common indices are stock and stock exchange indices, but there are indices made up of cryptocurrencies, commodities, and much more.

If you’re thinking about trading and are looking for a great indices broker in Canada, there are a few things you need to consider. The most important is to check that the broker is safe to use and operating legally.

This is done by checking whether the broker is licensed by the IIROC or not. Any broker without an IIROC license, should not be used in Canada.

You can find information about brokers’ licenses on their site or by visiting IIROC’s database.

The next step is to make sure that the broker is offering the index or the indices you’re looking for.

But don’t limit yourself to that, and see what other indices are on offer and spend a few minutes browsing through the other assets as well.

With that done, you need to test the broker and their platform out.

Today, most brokers have demo accounts and that’s a great way to trade without the risk of losing money.

When putting these recommendations together, we spent hours and hours running tests and trading with all the Canadian trading platforms online.

We do this to ensure that everything is working properly and that it’s actually one of the best platforms out there.

That means testing all the tools that are on offer, trading on different markets, double-checking all the fees and spread.

If we’re satisfied with our test results, the broker ends up being recommended here, otherwise, we move on to the next broker.

Best Trading Apps for Stocks, Forex & Crypto in Canada

1. forex.com

#
the future of mobile trading in canada

2. cmc markets

#
european broker with top mobile apps

3. oanda

#
great apps for any and all markets and assets
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

Compare the best trading apps in Canada

1. forex
2. cmc markets
3. oanda
Fees
Spread for Amazon0.4 points0.08%1 pips
Commission
Withdrawal Fee$015%$0
Deposit & Withdrawal
Minimum Deposit $100$250$100
Bank Transfer
Credit/Debit Card
Electronic wallets
Time to Withdraw1 Day1-3 Days1 Day
Assets & Platforms
How Many Stocks2209,400N/A
How Many Currency Pairs80+33070
How Many CryptocurrenciesN/AN/AN/A
How Many Commodities112912
How Many Indices199014
PlatformsMetaTraderMetaTraderMetaTrader
iOS
Android
Support & Safety
24/7 Availability
Free Account Manager
RegulationIIROCIIROCIIROC
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs

What Makes a Good Trading App in Canada?

Mobile trading has never been bigger, and all of the top brokers in Canada and the rest of the world are working around the clock to optimize their trading apps.

But what should you expect from the best trading apps in Canada? And how do you know if you can trust the broker behind the app or not?

The easiest way is to stick with the trading apps that we recommend because they have all gone through countless hours of rigorous review.

Your other option is to test the app yourself following our strict guidelines.

We always begin with ensuring that the Canadian broker that is responsible for the app is trustworthy.

You see, all trading apps in Canada have to be licensed and regulated by the IIROC, all other apps should be avoided.

You can find this information through the broker or on IIROC’s website.

Then we move on to reviewing the markets available on the app.

All the top trading apps in Canada provides access to several markets such as stocks, forex, indices, and more. If your preferred market isn’t available, you move on to the next.

The last and most time-consuming part of the test is the actual testing. We perform detailed tests on all apps, both iOS and Android to make sure it’s up to our standards.

Mobile trading apps in Canada have gone through intense updates and changes lately, and we expect a lot from the top ones. In fact, the best apps are getting closer and closer to the regular trading platforms in terms of functionality.

We expect execution to be smooth and the tools, graphs, alarms, states, news, etc. to be mobile-friendly.

Also, since the development is so rapid in the industry, we continue to review all the trading apps on a monthly to weekly basis.

After confirming all of the above, the trading apps either make it to the list or not.

How We Did This Research

We have been reviewing and trading with international brokers for many, many years and know exactly what a good Canadian trading platform should be like.

Despite that, we spend an average of 150+ hours on each of these articles to provide you with the best trading apps and brokers in Canada and nothing less.

Our team has both Apple, Windows, Android and iOS devices at their disposal so we can cross-check every feature, tool, and fee.

Most of the tests, as you might assume, are done by trading on the platform, using all of the available tools and testing all of the different markets.

After we’ve created a shortlist of the best trading brokers in Canada, we put the brokers through even more tests with the goal of picking the top two to three best brokers out there.

The result of all this work can be found on the page above, as well as in similar pages about trading in other regions in the world.

The Legal Status of Trading in canada

As mentioned, Canadian trading laws can be very confusing. On a national level, forex trading is legal and so is most derivatives trading such as CFDs.

However, it’s up to every providence to decide for themselves, resulting in an array of different trading laws within the country.

This has resulted in an online trading market that is flourishing in certain provinces while being completely banned in others.

Based on this, our first recommendation before you start trading is to make sure that you are allowed to trade in the providence where you reside.

  • eToro
  • Markets.com
  • 24Option
  • IQ Option
  • BDSwiss
  • HotForex
  • Trade.com
  • Libertex 
  • Plus500
  • XTB
  • InstaForex
  • IG Markets
  • GKFX
  • LionsFX
  • Valutrades
  • XM
  • IronFX
  • Blackwellglobal
  • FPmarkets
  • Amana Capital
  • Admiral Markets
  • Alvexo
  • Bizintra
  • Pepperstone
  • Windsorbrokers
  • FXPro
  • ForexTime
  • HYCM
  • FXGrow
  • Teletrade
  • Trader.online
  • Marketscube
  • Finmaxbo
  • FXCC
  • Oanda
  • Forex.com
  • LCG
  • CMC Markets
  • FXCM
  • iForex
  • IFC Markets
  • AAAtrade
AdamJarfjord1
Adam Jarfjord
Senior Editor

With several years of experience writing financial copy combined with an avid interest in forex trading, Adam possesses a superb understanding of the industry.

FAQ – Everything About Trading Platforms & Brokers in canada

As mentioned, picking the right broker for the market and the instruments you’re interested in is not an easy job. There are many things to consider and there are often many questions that arises during the process.

That’s why we’ve listed the most common question about trading platforms, brokers, and apps in Canada. You can read the questions with our answers below, and don’t hesitate to contact us if you’re wondering something we haven’t talked about.

Which Discount Brokerage is Best in Canada?

It really depends on what you’re looking to trade. But if we had to pick just one for all markets, we would have to say CMC Markets.

Their platforms, tools, and service is just a little bit higher than the rest.

Which Stock Trading Site is Best for Beginners in Canada?

CMC Markets has a superior CFD stock trading product that the other broker’s can’t keep up with. More than that, they also have a great educational system for beginners.

Which Is the Best Forex Trading Account in Canada?

Once again it depends on what you’re looking for. The brokers mentioned-above all offer currencies and forex trading so it’s up to you to pick the one the suits you better.

It could be a good idea to start with Forex.com

Can I Trade Forex in Canada?

Yes, forex trading is legal and regulated in Canada as long as you use a licensed forex broker (see above). However, the trading laws can be confusing so double-check what’s allowed where you reside.

Is Forex Trading Taxable in Canada?

Yes, you have to declare all your profits and pay taxes when trading forex in Canada.

How Do You Trade Stocks in Canada?

You actually have a few options. It’s common to trade and invest in stocks using a bank or through a traditional brokerage like Fidelity, but there is more.

You can also pick a discounted stockbroker (also called online stockbroker) and trade stocks like derivatives in Canada. The most popular stock derivatives are CFDs.

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