Top Forex Trading Platforms in Canada
Top Forex Trading Platforms in Canada offer a range of account types and pricing structures to suit all traders. Traders can select from commission-based accounts, which charge both a spread and an overnight fee, or commission-free trading accounts that only charge the spread. Most brokers also offer a mix of fixed and variable spreads. Traders should consider the type of strategies they will implement and their preferred liquidity providers when choosing an account type.
AvaTrade caters to traders from all over the world and is regulated by multiple reputable authorities. It offers a diverse range of trading instruments and an extensive education center to help traders master the art of forex trading. However, some users have reported problems with withdrawals and poor customer support.
Top Forex Trading Platforms in Canada: Comparing the Best Options
CMC Markets is a reputable, global broker that offers a wide variety of trading instruments to Canadian residents. The brokerage is publicly traded (LON: CMCX) and adheres to strict regulatory standards. It offers a range of trading tools, including a standout mobile app and a comprehensive Next Generation web trading platform. The broker quotes its 158 forex pairs both ways and also offers a CAD index, which is a unique offering among top Canadian brokers.
Leverage is a crucial tool that can help traders boost their potential profits. However, it’s important to choose a broker that offers high leverage responsibly and discloses the required margin in its trading conditions. Brokers regulated by IIROC typically limit their leverage ratio to 50:1 for major currency pairs and 20:1 for non-major pairs.