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Best Platforms & Brokers for Online Trading in Canada

There are lots of brokers and platforms out there for you to choose from. I try to list the best ones to use in Canada right here on this website.

We are compensated for referring clients to some of the listed trading providers.

Capital.com screenshot

Capital.com is the trusted partner of TradingView and Investing.com. They've got an amazing review score at Trustpilot, which you can see below.

You can trade a huge selection of instruments with this broker. This includes CFDs for over 2,400 shares, a range of indices, over 120 cryptocurrencies, and 40 commodities.

Capital.com Reviews

4.2 / 5.0 ~3,300 TrustPilot reviews
4.4 / 5.0 ~19,300 Google Play reviews
4.7 / 5.0 ~1,300 App Store reviews

Platforms

  • Capital.com CFD trading app: This is claimed to be the most beautiful CFD trading platform ever designed for a mobile device. It is available for both iOS and Android.
  • Capital.com web trading platform: This web platform won an award for "The Best Online Trading Platform 2020".
  • TradingView: You can connect Capital.com to TradingView which is an amazing charting tool.

Demo: Try trading with a demo account free of risk.

Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Visit Capital.com
AVATrade screenshot

AVATrade offers trading of cryptocurrencies, ETFs, commodities, and stocks as CFDs. You can also trade forex here.

There are 11 different cryptos to trade here, including the most popular ones like Bitcoin and Ethereum. They offer up to 2x leverage on Bitcoin, 10x on commodities, and 5x on stocks.

AVATrade Reviews

4.7 / 5.0 ~5,700 TrustPilot reviews
4.6 / 5.0 ~5,500 Google Play reviews
4.5 / 5.0 ~420 App Store reviews

Platforms

  • WebTrading: Trade in your web browser without the need to download anything.
  • AvaTradeGo: Trade on your smartphone.
  • MetaTrader 4: One of the most popular trading platforms.
  • MetaTrader 5: Next-genetration trading platform.
  • AvaOptions: For FX and options trading with advanced strategies like "straddles", "strangles", and more.
  • Automated Trading: For auto-trading.
  • Mac Trading: Mac users can trade with MetaTrader 4 for Mac or WebTrading.

Demo: Try trading with a demo account free of risk.

Risk warning: 72% of retail investor accounts lose money when trading CFDs with this provider.

Visit AVATrade
CMC Markets screenshot

CMC Markets offers a trading platform with access to 10,000 financial instruments you can trade with up to 30x leverage.

This includes over 300 currency pairs, popular cryptocurrencies like Bitcoin and Ethereum, over 9,000 shares (including 1,000 ETFs), a selection of commodities, and more.

CMC Markets Reviews

4.2 / 5.0 ~1,200 TrustPilot reviews
3.2 / 5.0 ~2,100 Google Play reviews
4 / 5.0 ~110 App Store reviews

Platforms

  • Next Generation: Choose between the advanced and the standard version.
  • Apps: Trade with the iPhone, iPad, or Android app.
  • MetaTrader 4: One of the most popular trading platforms.

Demo: Try trading with a demo account free of risk.

Risk warning: 76% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

Visit CMC Markets
IG screenshot

IG claims to be the world's leading CFD provider. They very well might be. I can at least let you know that they are one of the most popular ones according to website traffic statistics by Alexa.

With IG you can trade over 17,000 markets. This includes forex, indices, cryptocurrencies, shares, and commodities.

As I write this, they offer trading of 6 different cryptos: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar, and NEO.

IG Reviews

3.7 / 5.0 ~4,600 TrustPilot reviews
4.3 / 5.0 ~12,200 Google Play reviews
4.6 / 5.0 ~20,900 App Store reviews

Platforms

  • IG's own: This has won several awards. The latest one in 2020.
  • Apps: They offer a feature-rich Android app and a specially designed mobile web platform for iOS.
  • MetaTrader 4: One of the most popular trading platforms.
  • ProRealTime: For easy algorithm building.

Demo: Try trading with a demo account free of risk.

Risk warning: 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider.

Visit IG
Saxo Bank screenshot

Saxo Bank offers CFD trading for over 9,000 instruments. You can trade stocks, indices, forex, commodities, options, and bonds.

You can also trade cryptocurrency with Saxo Bank. They offer two different products. One is called Crypto FX which allows traders to take advantage of short-term volatility. And then there is an unleveraged instrument called Crypto ETPs for long-term investing.

Saxo Bank Reviews

2 / 5.0 ~1,400 TrustPilot reviews
4.2 / 5.0 ~3,100 Google Play reviews
4.3 / 5.0 ~3,700 App Store reviews

Platforms

  • SaxoTraderGO: Award-winning trading platform.
  • SaxoTraderPRO: Platform with advanced customization features.

Demo: Try trading with a demo account free of risk.

Risk warning: 70% of retail investor accounts lose money when trading CFDs with this provider.

Visit Saxo Bank

What is a CFD?

CFDs are financial instruments that can be used for short-term trading. It is not suitable for long-term investing. There are fees for holding on to a position with CFDs over time. For instance overnight. Make sure you learn how it all works before trading substantial funds. CFDs often come with high leverage enabling bigger results from smaller investments. Both to the downside and to the upside.

CFD trading advantages

There are advantages to CFD trading compared with buying stocks and other financial instruments directly. You can, for instance, trade with leverage and you can also often trade a wide range of all sorts of underlying instruments with the same CFD broker. This includes shares, cryptocurrencies, and commodities in most cases. You can also go short just as easily as you can go long with CFDs which can be a big advantage.

CFD trading risks

As you can see from the risk warning all CFD brokers are required to put on their websites, there are risks involved with online trading, and maybe CFD trading in particular. The main reason for this might be that there is built in a lot of leverage into CFDs. This can be a benefit if you know what you are doing. However, it can be terrifying to see a position move against you really heavily just because of a small drop in price on the underlying asset. CFDs also are subject to other rules as set by the brokers.