Uncategorized

Top 10 Canadian Forex Brokers

In this post, we will explore the top 10 Canadian forex brokers, you should give a try.

Forex Trading has become a popular venture in Canada today.  Forex trading is regulated by regulatory bodies in every province of Canada and license is given to authorised Forex brokers. Before choosing a broker, they should be regulated and are suited to certain trade options. Working with authorised forex brokers will use a positive impact on your trade.

Top 10 Canadian Forex Brokers

This is a list of the top 10 Canadian forex brokers that are regulated and also offer demo accounts for practice.

Canadian Forex Brokers – Top 10 List.

FOREX.com

FOREX.com is under GAIN Capital Group, LLC is registered under the  US Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). They offer two types of accounts: Standard and Active Trader. The minimum deposit is $50 for the standard account that offers spread of 1.8 pips. The active trader is available with a minimum deposit of $10,000 to $20,000 to offer spread at an average of 1.5 pips. Also swap free account is available for those traders with is Islamic belief. FOREX.com offers favourable conditions for trading in Forex,  Contracts For Difference- CFDs and stock. Deposit and withdrawal options are credit and debit cards, check and e-check(for US banks only), and Sofort.

Related: How To Get An Instant Payday Loans in Canada

LCG

London Capital Group- LCG is one of the Canadian forex brokers that was established in 1996. LCG is regulated by the Financial Conduct Authority, Cyprus Securities and Exchange Commission- CYSEC and CIMA. Their trading platforms are MT4, Webtrader and Mobile app. LCG’s deposit and withdrawal options are credit cards,  Bank transfer. They offer educational videos for beginners and also for experienced traders. LCG also offer webinars that cover a range of trading topics prepared to help clients plan their trading schedule. LCG offer trading in Forex,  Indices, Commodities, stocks and Exchange Traded Funds- ETFs. They offer accessible customer service.

Etoro

Etoro is among the Forex brokers in Canada which was established in 2006 and is regulated by the Financial Conduct Authority,  Australian Securities and Investment Commission and Cyprus Securities and Exchange Commission. They offer trading in forex,  commodity, stocks, cryptocurrency, indices and Exchange Traded Funds- ETFs. Etoro trading platforms are WebTrader and Mobile app. Withdrawal and deposit options are credit and debit cards, PayPal and Bank transfer. They offer a platform to interact with other traders and copy their trading portfolio performance. They offer personalized and reliable customer service.

PepperStone

PepperStone was established in 2010 and is regulated by the Financial Conduct Authority and Australian Securities and Investment Commission. Their trading platforms are MT4, MT5, WebTrader and Mobile app. They trade in Forex,  commodities, cryptocurrencies, stocks and indices. Withdrawal and deposit options are credit cards, PayPal, Skrill, Neteller, and Bank Wire transfer. Minimum deposit is $200. They offer leverage up to 500:1. They offer accessible and reliable customer service.

FBS

Financial Brokage Service- FBS was established in 2009. They operate with four types of accounts: Cent, Micro, ECN and Unlimited.  The Cent account starts up at a minimum deposit of $1 with a tight spread starting at 1 pip and maximum leverage of 1:1000. The Micro account starts up at a minimum deposit of $5 with a tight spread starting at 3 pips and maximum leverage of 1:3000.

The ECN account offers a zero spread with a minimum deposit of $500 and maximum leverage of 1:3000. The Unlimited account often reserved for institutional and professional traders offers maximum leverage of 1:500 with a floating spread that starts at 0.2 pips and a minimum deposit of $500. They make use of the MT4 and MT5 trading platforms. They offer reliable customer service and bonuses.

IG

IG was established in 1974 and is regulated by the Financial Conduct Authority and Australian Securities and Investment Commission. They offer tradings in forex,  commodities, cryptocurrencies, stocks, indices and Exchange Traded Funds- ETFs. The trading platforms are MT4,  WrbTrader and Mobile app. To open a live account,  a minimum deposit of $200 is required. Withdrawal and deposit methods are credit cards,  PayPal and Bank Wire Transfer. IG offers personalised and reliable customer service.

RelatedOnline Payday Loans Same Day in Canada

SaxoBank

SaxoBank was established in 1992 and is regulated by the Cyprus Securities and Exchange Commission, Australian Securities and Investment Commission and Financial Conduct Authority. They offer to trade in forex, Non-deliverable Forwards- NDFs, Contracts For Difference- CFDs, stocks, Exchange Traded Notes- ETNs, Exchange Traded Funds- ETFs, Cryptocurrencies and bonds.

Minimum deposit is $2000 with a spread of 0.4 pips. They offer educational videos and webinars for beginners and advanced traders. SaxoBank offers a reliable and accessible customer service to clients. Withdrawal and deposit options are credit cards and bank transfers.

SpreadEX

SpreadEX was established in 1999 and regulated by the Financial Conduct Authority. They trade in forex,  commodities,  cryptocurrencies, stocks,  indices and Exchange Traded Funds- ETFs. The minimum deposit for a live standard account is $1 with a spread of 0.6 pips and a minimum trade of 0.01 lot. They make use of the WebTrader and Mobile app trading platforms. Withdrawal and deposit methods are credit cards, bank transfer,  Payoneer and Skrill. That also offers reliable and personalised customer service.

GKFX

GKFX was established in 2010 and is regulated by the Financial Conduct Authority. They trade in forex, cryptocurrencies, stocks, shares, indices and Commodities. They use the MT4,  WebTrader and Mobile app trading platforms. Deposit and withdrawal options are credit cards, bank transfer and Payoneer. Minimum deposit of $20 with a spread of 1.5 pips. The commission fee is not charged in Contract For Differences trading. They offer four types of accounts: Micro,  Mini,  Macro and Islamic( a swap free account). Educational videos and tutorials are offered to beginners and advanced traders. They offer accessible and reliable customer service.

Ameritrade

Ameritrade was founded in 1955 and is regulated by the Financial Conduct Authority and Investment Industry Regulation Organization of Canada. They have reliable customer service and a wide range of educational videos and webinars to educate clients on trading strategies. The trading platforms include WebTrader and Mobile app. They trade in Cryptocurrencies, forex, stocks, Contract For Differences- CDFs, commodities, Exchange Traded Funds- ETFs and indices. They have no minimum initial deposit for their account. Withdrawal and deposit options are bank transfers and credit cards.

Forex trading is a legal business in Canada and quite popular among residents. However, not all brokers are licensed and authorised.

With this list of the best Forex brokers in Canada, we believe you have areas to put and trust that your money would work for you. All brokers must be authorised by the Investment Industry Regulatory Organization of Canada (IIROC), which is the financial regulatory body in Canada.

Do you know any other authorised brokers? please share them with us by placing a comment below.

Chidera

Chidera is an experienced freelance blogger and social media enthusiast. Click here to see all my posts

Related Articles

Back to top button
error: Content is protected !!
Close