Investment has become a part of everyone’s lives nowadays. This is one of the major reasons why traders are taking a vital interest in forex trading. According to statistics, hundreds of thousands of people in Canada are investing in forex trading.
If you want to make ample profit through forex trading, it’s high time you start it. However, before starting, you need to check out the best forex broker for Canadian residents in 2022.
The best forex brokers in Canada
There are numerous forex brokers available for the people of Canada who want to learn and gain through forex trading. Thus, instead of naming just one, below is a list of brokers you can choose for forex trading. Hence, the brokers include:
- CMC Markets
- Interactive Brokers
- Tradeview Forex
- Ava Trade
Have a look at these brokers in detail!
1. CMC Markets
The first name on this list is CMC Markets because it is one of the best online brokers Canadian people can opt for. They are highly successful in this field and are regulated by several tier-1 and tier-2 jurisdictions. Since it is highly regulated, CMC Markets’ platform is considered trustworthy and safe by traders.
Moreover, this organization offers a demo account for people, and in Canada, there is a head office. In addition, most users have stated that their customer service is simply exceptional. Therefore, if you consider investing in Forex, you should check out this broker.
When talking about Forex trading, the first name which comes to experts’ minds is FOREX.com. This brokerage company offers features that are hard to come by anywhere else. It was first launched in 2006 and is highly regulated by IIROC and other jurisdictions of tier 1.
Canadian residents highly prefer this firm due to many reasons. These include IIROC regulation that makes it low-risk and safe, no fee is required for withdrawal, etc. Moreover, this company also offers its clients technical tools and more for a good trading experience.
Back in 1996, Oanda was founded, and since then, it has been regulated by IIROC and several other tier-1 authorities. It is a great firm that offers several tools for educational and research purposes and trading for ideal gain. It is a great brokerage for people looking to learn the basics and become pro traders.
Two features make people opt for this broker. One is no charges from customers who deposit or withdraw money, and the second is their easy and quick account opening process. These two features are why most people opt for this broker in Forex trading.
4. Interactive brokers
The best in this list of brokers is Interactive Brokers. It is one of the oldest platforms that is involved in Forex trading. This organization is an IIROC member and was first founded in 1977. Apart from its regulations checked by IIROC, 5 other tier 1 authorities also regulate it. If you are looking for a low-risk and trustworthy brokerage firm, this is excellent.
This agency supports 22 different currencies. Also, there is a physical agency present in Canada, an excellent collection of educational and research tools, etc. However, one of the most enticing features of this firm is that its trading fee is very low. Thus, this would be an amazing choice for Canadian residents looking for Forex brokers.
5. Tradeview Forex
Next on this list is Tradeview Forex brokers. This agency was launched in 2004. It is regulated by the Chartered Institute of Management Accountants (CIMA). People living in Canada can trade using this firm easily as they accept traders from this country.
Some of its outstanding features include 30 performance indicators are inbuilt into the system; execute orders instantly, over 2000 tailored/custom indicators, etc. If you are looking for more insights about this company, go through the market review and more.
6. Ava Trade
Last but not least is Ava Trade. This is another Forex trading broker that allows Canadian residents to trade using their platform. Ava Trade is IIROC’s member and was first founded in 2006. This platform is regulated by various tier 1 and tier 2 authorities that ensure safety and trustworthiness. This firm doesn’t charge an inactivity fee, which is quite a great feature.
There are numerous brokers in this field. However, each of the ones mentioned in this list is your best option. Hence, choose one accordingly and start trading to gain ample profit!