Comparing Best Trading Platforms in Canada

While stock trades are commission-free, Wealthsimple charges a 1.5% fee for converting CAD to USD, and vice-versa. This means that buying and selling U.S. stocks will come with a 3% round trip fee. While Interactive Brokers 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!

• However, we generally recommend not only looking at the overall rating, but also reading through the ratings in detail.
• Velocity only carries on securities transactions and activities in those countries it is authorised to do so.
• This gives you access to $7.75 commissions, a discount from the regular $8.75 commissions, plus no account minimums and admin fees.
• Friedberg customer accounts are protected by the Canadian Investor Protection Fund within specified limits.

You can open a Mini account with FXCM for just $50, and you can start trading right away. Spreads vary depending on whether you choose a Mini, Standard or Active Trader account. The minimum average AUD/USD spread with FXCM is 1.9 for a Mini account, 0.5 for a Standard account and https://forexbroker-listing.com/ 0.5 for an Active Trader account. You can test each platform with a free practice account. Glassdoor gives you an inside look at what it’s like to work at FXCM, including salaries, reviews, office photos, and more. All content is posted anonymously by employees working at FXCM.

Is FXCM down right now?

She is passionate about helping people find the best deal for their needs. You can use MetaTrader 4 in conjunction with FXCM’s other programmes and platforms. 52% of employees think that FXCM has a positive business outlook. This is based on anonymous employee reviews submitted on Glassdoor. Employees rate FXCM 3.5 out of 5 stars based on 384 anonymous reviews on Glassdoor.

You will need to use another brokerage to access foreign markets. RBC Direct Investing is an online investing service offered by Royal Bank of Canada . RBC does not offer other foreign stocks listed in other countries outside of Canada and the U.S. RBC Direct Investing covers up to $200 in transfer fees if you transfer $15,000 or more to RBC. FXCM worked its way back to the safe zone and followed the regulations set by the regulatory bodies across the globe and gave itself a shot for redemption. Since then, FXCM operated with a clean slate and offered the public safe and reliable forex services aimed at harnessing the best interests of its traders.

Min Deposit $100

Every now and then my FXCM client “forgets” my password. But every single time all problems are solved with your chat assistants. They’re 10/10 and your top notch customer service is probably the biggest reason why I’m your customer. Every time you’ve exchanged Canadian dollars before you go on vacation, you’ve done a little currency trading. Forex trading is speculation on the price movements of currency.

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. This gives you access to $7.75 commissions, a discount from the regular $8.75 commissions, plus no account minimums and admin fees. Wealthsimple Trade does not support margin trading or options trading. This means that you cannot short stocks with Wealthsimple Trade.

World class customer service

All accounts are opened by and held with Friedberg Direct, a division of Friedberg Mercantile Group Ltd., a member of the Investment Industry Regulatory Organization of Canada . Friedberg customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request or at People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. We’re really happy you loved your experience all the way and cannot wait to service you again anytime soon.

It is particularly important for him to pass on his experience and tips to both beginners and advanced investors and to make the investment market for Forex, stocks and CFDs more transparent. I have been trading the Forex market for years & also have been teaching Forex trading for years! I am now a consistently profitable trader year after year, & my trading account has been verified by myfxbook. I agree with this article that Forex trading is risky.

Proof of Active Status for Corporations that were registered at least 2 years prior to the date of account application . For more information about the needed documentation for Corporate Entities and Partnerships, please click here. A proof of residence dated within six months for the address indicated on the application . Please note the information on this website is primarily intended for retail customers. Powerful, preloaded tools like Real Volume, Market Depth, and Trader Sentiment. Free EAs and free Virtual Private Server access1 with your MT4 account.

Oanda charges a currency conversion fee of 0.5% if you make a trade for an instrument that is different from your account currency. CIBC offers one of the lowest fees for assignments and exercises of option positions, with the fee for auto assignments being just $6.95 plus $1.25 per contract. Manual exercise requests will be charged at $6.95 per request. RBC’s foreign currency conversion spread starts from 200 basis points (1.60%) and can go down to 0.10% for transactions over $2 million. A spread of 1.60% makes RBC’s currency conversion fee similar to Wealthsimple, but higher than Interactive Brokers’ spread of just 0.2 basis points.

Account Management Forms

FXCM’s patented trading account type is the Active Trader account. This particular account has low commission rates, and average spreads are available to moderate high volume traders. Unlike its offered Standard account, the Active Trader account charges its users a commission per trade along with a reduced spread. This company is licensed by the British regulator FCA. It offers trading CFDs and currency pairs through the MetaTrader 4 terminal after you deposit a minimum of $450.

Diversity & Inclusion at FXCM

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. Martin Jekic has been dealing with the stock exchange and active investments for over 10 years. After completing his studies and spending some time in banking, he turned his hobby into a profession.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Award-Winning BrokerSince 1999, FXCM Group has been on the leading-edge of the forex market. From technological proficiency to the creation of common sense solutions, FXCM has garnered many acknowledgements and accolades while promoting the advancement of the forex and CFD. I usually speak to the German customer support but as I am English speaker they also speak very good English. Your trust and strong support have made our day, Cec Collins! We are greatly thankful for your kind words and support, Jani Hassinen!

The Traders Union website, a rebate service and information portal has published its rating of the Best Brokers in Canada 2021. It was compiled by independent experts at the Traders fxcm canada review Union who analyzed several dozen companies that provide brokerage services to Canadian traders. Each brokerage company was tested according to 107 objective criteria.

Despite being available through live chat, telephone, and email, FXCM needs to up its customer care offering by being available 24/7. FXCM is also stepping up in providing educational resources and research for the market traders. FXCM outsources updates from Trading Central as well as important developments and economic news from Investing.com. FXCM also integrated special instructional materials into its research facility, which contains webinars, how-to videos, etc. Let’s get to know more about this old institution and what it has to offer to forex brokers this year.

FXCM also offers a range of specialty platforms designed for specific trading needs. Trade 39 currency pairs with zero commissions and spreads from 1.0 pips. I saw that there are a bunch of customer service positions open and I don’t know if it’s somewhere that would fairly easy for someone with just 1 year of experience. I need to change where I’m at, but not sure how big of a company is really gonna hire me when I’m so new to things. Friedberg Mercantile Group Ltd. (“Friedberg Direct”) is an independent legal entity and does not own, control or operate this third-party website.