This page will compare the 15 best trading platforms in Canada for stock trading, day trading, options, CFDs, crypto, and forex. BMO’s 5 Star Program gives discounted pricing for active traders or for those with large account balances. You can qualify for the first 5 Star membership level by making between 15 to 74 trades in a quarter, or if you invest at least $250,000. 5 Star membership gives you the ability to receive free real time quotes with BMO Market Pro, dedicated support lines, and a professional investing platform.
One feature that Questrade offers is the ability to purchase ETFs with no commission. This is a great way for investors looking to buy commission-free ETFs regularly, such as investing a portion of their paycheck, or those who want to automatically invest frequently. This would mean that the services and conditions offered are not the same.
As previous reports…customer service…
Thank you for leaving the feedback, I hope you give us the chance to improve your opinion of FXCM. One unique feature is that Oanda allows PayPal deposits via e-cheque. Other deposit methods include debit cards and bank wire transfer. Withdrawals can also be made back to your PayPal account, debit card, or bank account via wire transfer.
If you’re an active trader, you may also be eligible to receive free Level 2 quotes for the Canadian Securities Exchange and NASDAQ stocks and ETFs. While Interactive Brokers (IB) isn’t a commission-free broker, you can trade Canadian stocks for as little as $0.008 per share with a minimum commission of $1 per order. U.S. stocks have a commission of $0.0035 per share, with a minimum of $0.35 commission per order, up to 1% of the total trade value. Volume discounts can reduce your commission to as low as $0.0005 per share! That’s a fraction of the commission that the big banks charge in Canada for stock trades, which can be a minimum of $9.95 per trade.
- Friedberg Direct charges a mark-up on the foreign currency spread as well as a small commission for each trade.
- The company is a licensed dealer and a member of the Investment Industry Regulatory Organization of Canada (IIROC).
- This platform has a clean and modern look with an intuitive interface.
- With this in mind, FXCM’s mission is to provide increasing levels of quality pricing, transparency and execution services to its traders.
Each platform is available in most mobile stores and is compatible with a majority of android and iOS mobile and tablet devices for on-the-go traders. Friedberg Direct is as safe to use as any other online forex trading platform. The company is a licensed dealer and a member of the Investment Industry Regulatory Organization of Canada (IIROC). It’s also a member of the Canadian Investor Protection Fund (CIPF). This means your investments are regulated in Canada and protected up to a million dollars. As mentioned at the start, the broker FXCM Canada has a low minimum deposit.
Min Deposit $10
You can deposit using a credit card, debit card, or with a bank wire transfer. Withdrawals can also be made back to your credit or debit card, up to the amount initially deposited. Any excess amounts will need to be withdrawn via wire transfer. While BMO has no minimum balance requirement, they do charge a $25 quarterly fee for non-registered accounts if your balance is less than $15,000.
Although any other mails sent to the same e-mail address got in within a heartbeat (card deposit/withdrawal, modifications on my profile info (e.g. contact info, employment,..). Since I got kicked out I had to clean out the account which lead to a withdrawal in the begin of the week. So far only 12% of the total got re-credited to my credit card (within 24 hours).
The Trustpilot Experience
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Client since 2008 I rarely had any complaints about the trading platform nor the pricing. Meanwhile I got moved to the UK firm after being exited from the US entity. Brexit shaking the tree for another time made them kick me out for a second time and this time definitely. In regards they claimed to have sent multiple prenotice messages.
BMO InvestorLine Margin Rates
For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Capterra is free for users because vendors pay us when they receive web traffic and sales opportunities. Capterra directories list all vendors—not just those that pay us—so that you can make the best-informed purchase decision possible. As for regulation, it’s done by the United Kingdom Financial Regulator. The reason is that the broker has its headquarters in the English capital London. Although, there are additional locations, for instance in Berlin.
In the end, FXCM does what most brokers have, and it’s really up to you as a trader to know and be responsible for the risks you are willing to take. The customer service of FXCM is in English and French to provide the Canadians the chance to contact the broker in several ways. Traders can contact the staff by phone, email or live chat if they have any questions https://forex-review.net/fxcm-review/ or problems. Various toll-free international telephone numbers also are available. Experience has shown that customer service is quick, so traders do not have to wait long for an answer. There is namely the non-dealing desk order execution and, alternatively, the customer can also choose the dealing desk model, which usually includes comparatively low spreads.
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In addition, it allows to place different types of
orders and to read out account information. The overall goal is to allow
the implementation automated, algortithmic trading programs. While we are independent, we may receive compensation from our partners for featured placement of their products or services. This platform also offers a wealth of different research tools to help you make the best trades possible.
There are no deposit fees, however, some credit cards may charge a cash advance fee. Withdrawals can be made back to the same credit card or debit card, or as a wire transfer to your bank account. National Bank is the only major bank to offer completely commission-free stock and ETF trades through their online stock brokerage. National Bank Direct Brokerage lets you trade Canadian and U.S. stocks and ETFs with no commission. Options come with a commission of just $1.25 per contract. Assignment and automatic exercise of options come with a flat commission of $28.95.
is ideal because it has hundreds of financial instruments to negotiate online
Finder.com compares a wide range of products, providers and services but we don’t provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. This may be used indefinitely and enables the trader to get to understand all the functions of the trading platform. FXCM is a well-known forex broker that has already received several awards. This includes, for instance , taking 1st place in the so-called “Readership Award 2010”. Really poor customer service and one representative was really quite rude when I called to ask why their spread betting account wasn’t in £ per point like all other brokers.
National Bank’s InvestCube is similar to a robo-advisor that automatically rebalances your portfolio into various ETFs. InvestCube requires a $10,000 minimum balance, and charges an annual rebalancing fee of 0.3% to 0.5%. If you’re between the ages of 18 and 30, you can qualify for Qtrade’s young investor pricing if you set up an automatic pre-authorized deposit of at least $50 per month to Qtrade.