Top Canada Brokers for 2024
We found 11 online brokers that are appropriate for Trading Canadian.
Best Canadian Brokers Guide
Analysis by Andrew Blumer, Updated and fact checked by Senad Karaahmetovic, Last updated - April 23, 2024
Canada Financial Markets
Canadian Brokers
In Canada, brokers, also known as brokerage firms, serve as intermediaries that facilitate the buying and selling of financial instruments such as stocks, bonds, Forex, mutual funds, ETFs (Exchange Traded Funds), and derivatives like options and futures. These entities operate within a regulated framework, primarily overseen by national and provincial regulatory bodies to ensure investor protection, market integrity, and financial system stability.
Canada boasts prominent financial markets with a long and lucrative history. The TMX is the most prominent Canadian exchange, but traders can also access the CSE, NASDAQ Canada, MX (the Montreal Exchange), and ICE Futures Canada.
TThe Canadian dollar (CAD) is one of the top six most popular reserve currencies in the world and it amounts to about 2 percent of global reserves. This is due to economic soundness and political stability in the country. Canada has a stable legal procedure too.
The Canadian brokers come under the regulation of IIROC (or the Investment Industry Regulatory Organization of Canada) while the financial institutions are monitored by the Financial Institutions Supervisory Committee (FISC).
Best Canadian Brokers
IC Markets
As an experienced trader in Canada, IC Markets stands out for its high-performance trading platforms like MT4, MT5, cTrader, and TradingView, ensuring swift trade execution with an average latency of just 40ms. Its tight spreads across various instruments, including Forex and cryptocurrencies, make it an ideal choice for those of us looking to maximize returns. With features tailored for sophisticated trading strategies, such as free low latency VPS and advanced automation options, IC Markets aligns well with the demanding needs of seasoned traders.
RoboForex
RoboForex caters to the Canadian market with its competitive spreads and high leverage, which are crucial for maximizing our investment returns. The platform's compatibility with MT4 and MT5 ensures a seamless trading experience, which is vital for executing trades efficiently. With a focus on providing flexible trading conditions and a user-friendly interface, RoboForex is a compelling option for traders looking to exploit rapid market movements, though it's important to be cautious of the increased risk that comes with high leverage.
eToro
For Canadian traders interested in a community-driven approach, eToro offers an innovative social trading platform where you can copy trades of successful investors. With a user-friendly interface and a vast user base, eToro is perfect for those who value collective wisdom and easy-to-navigate platforms. It provides a secure trading environment, regulated by top financial authorities, ensuring a reliable space for trading a variety of instruments.
XTB
XTB offers an unparalleled suite of research tools and educational materials, catering to Canadian traders looking for deep market analysis and learning resources. With robust regulatory backing from FCA and CySEC, XTB provides a secure and trustworthy environment, making it an excellent choice for those of us seeking a platform that supports both our trading and educational needs.
XM
XM stands out for Canadian traders with its strong emphasis on customer support and a broad selection of trading instruments. Whether you're looking to trade Forex, stocks, or commodities, XM provides a versatile platform backed by regulatory authorities such as ASIC and CySEC, ensuring a high standard of trading practice.
Pepperstone
For Canadian traders prioritizing diversity in trading options and exceptional client service, Pepperstone offers a wide range of instruments, including Forex, CFDs, and cryptocurrencies. With regulatory oversight from FCA and ASIC, it's a platform that balances broad trading capabilities with the reassurance of strict regulatory standards.
AvaTrade
AvaTrade is particularly appealing for Canadian traders looking for flexibility and a community-oriented trading experience. The platform provides a range of funding and withdrawal options, catering to various CFD trading preferences. Its mobile application, AvaTradeGo, and the social trading feature, AvaSocial, offer an engaging and convenient trading environment. The commission-free structure allows for more profitable trading, making AvaTrade a top pick for those valuing a mix of community engagement and cost efficiency.
FP Markets
FP Markets integrates cutting-edge technology with trading, offering Canadian traders an enhanced experience on MetaTrader platforms. The focus on optimizing trading performance through competitive spreads and a wide array of trading options positions FP Markets as an excellent choice for traders seeking technological sophistication coupled with cost efficiency. It's designed for those who demand precision and flexibility in their trading endeavors.
Financial Markets in Canada
Canada's financial market is a sophisticated and well-regulated system that plays a crucial role in the country's economy. It consists of various segments, including capital markets, banking sector, insurance, and other financial services, which facilitate the flow of funds between investors and those in need of capital. Here's an overview of the key components of Canada's financial market:
Capital Markets In Canada
Stock Markets: The Toronto Stock Exchange (TSX) and the TSX Venture Exchange (TSXV) are the primary stock exchanges in Canada. The TSX is the larger of the two and ranks among the largest stock exchanges in the world, hosting a wide range of companies from Canada and abroad. The TSXV is geared towards smaller-cap companies.
Bond Market: Canada has a substantial bond market, offering government and corporate bonds. The government bond market is particularly significant, with securities issued by the federal government, as well as provincial and municipal governments.
Derivatives Market: The Montreal Exchange (MX) is Canada's derivatives exchange, facilitating trading in futures and options on stocks, indices, currencies, and interest rates.
Canada's Banking Sector
Canada's banking system is highly concentrated. The largest banks in the country provide a wide range of services, including retail banking, commercial banking, and investment banking.
The country is known for its strong regulatory framework, which helped it weather the 2008 financial crisis better than many other nations.
Investment Industry
The investment industry includes a variety of entities such as mutual funds, pension funds, and insurance companies that manage investments on behalf of individuals and institutions.
Canada also has a growing segment of alternative investments, including private equity, hedge funds, and real estate investment trusts (REITs).
Financial Services In Canada
In addition to banking and investment services, Canada has a robust insurance sector, offering life and health insurance, property and casualty insurance, and reinsurance.
The country is also a hub for financial technology (fintech) innovation, with numerous startups and established companies working on digital payments, blockchain, and financial management solutions. Some well-known examples include wealth management platform Wealthsimple and payment processing company Nuvei.
Canada has a well-regulated financial system, which helps to ensure stability and consumer protection. Key regulatory bodies include the Office of the Superintendent of Financial Institutions (OSFI) for banks, insurance, and pensions, and the Canadian Securities Administrators (CSA) for capital markets and investments. You could mention the role of the Canadian Imperial Bank of Commerce (CIBC) and other prominent financial institutions in the future.
Canada's financial institutions are major players on the world stage. Briefly mentioning Toronto Stock Exchange (TSX) as a global financial center could be a good addition.
Canada's financial markets are integral to supporting economic growth by facilitating capital formation, providing liquidity, and enabling risk management. The system's strength lies in its comprehensive regulatory framework, diverse market participants, and a reputation for stability and innovation.
Regulatory Bodies in Canada
The two key regulatory bodies in Canada are:
Investment Industry Regulatory Organization of Canada (IIROC): A Canadian regulatory body. IIROC sets and enforces standards of conduct on companies offer financial services to Canadians and protects investors from unfair, improper, or fraudulent practices.
Provincial Securities Commissions: Each of Canada’s ten provinces and three territories has its own securities commission or regulator that oversees the securities industry within its jurisdiction. The largest and most notable is the Ontario Securities Commission (OSC), which regulates securities in Ontario, Canada's most populous province and home to Toronto, the country's financial hub.
Online Brokerages In Canada
Online brokerages allow you to buy and sell investments like stocks and forex (foreign exchange) entirely online. Compared to traditional brick-and-mortar brokerages, online brokers offer lower fees due to their reduced overhead.
These platforms cater to both beginners and active traders. They provide educational resources to help new investors learn the ropes and offer self-directed investing options for experienced traders.
Online brokers execute trades on your behalf and manage your investment account. They typically charge commissions for each trade executed. Some online brokers even offer commission-free trading, though they may have other fees associated with accounts or specific investments.
Here are some additional factors to consider when choosing an online brokerage in Canada:
- Account types: Many online brokers offer different account types, such as Registered Retirement Savings Plans (RRSPs) and Tax-Free Savings Accounts (TFSAs). Choose an account type that aligns with your investment goals.
- Regulation: Ensure the online brokerage you choose is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) for investor protection.
Types of Canadian Online Brokers
There are two main types of online brokers to consider: discount brokers and robo-advisors.Discount Brokers: These brokers offer a platform for self-directed investing, with lower fees compared to full-service brokers. Investors have access to trading tools and research to make their own investment decisions. Discount brokers may require a minimum deposit to open an account.
Robo-Advisors: These automated investment platforms use algorithms to manage your portfolio based on your risk tolerance and investment goals. After you answer an online questionnaire, the robo-advisor invests your money in a diversified portfolio, typically using a mix of ETFs, stocks, and mutual funds. Robo-advisors typically have lower fees than full-service brokers but higher fees than self-directed discount trading.
Choosing an Online Broker in Canada:
- Consider your investment goals, experience level, and desired trading tools. Discount brokers are suitable for self-directed investors who want to make their own decisions using various tools. Robo-advisors are better for those who prefer a hands-off approach with automated portfolio management.
- Compare fees associated with different brokers, including commissions, account maintenance fees, and any inactivity fees.
- Evaluate the base currencies offered for live trading accounts. While CAD or USD might be convenient, some brokers may offer other options.
- Check the available Canadian funding and withdrawal methods. Ensure the broker offers methods that suit your needs.
- Look for educational resources. Most established brokers offer some form of educational resources like online tutorials, blogs, or video guides.
Ensure the online broker you choose is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) for investor protection.
Why Choose an Online Broker in Canada?
Online brokers offer several advantages for Canadian investors:
- Convenience and Accessibility: You can manage your investments from anywhere with an internet connection, 24/7.
- Lower Fees: Online brokers typically have lower fees compared to traditional full-service brokers. This can be especially beneficial for active traders.
- Self-Directed Investing: Online platforms empower you to make your own investment decisions with access to research and trading tools.
- Technology and Innovation: Many online brokers offer user-friendly platforms with advanced features and next-generation technology.
By choosing an online broker, you gain greater control and flexibility over your investments, while potentially saving on fees.
Trading With Canadian Brokers
Understanding the Canadian Market:
Before you start trading in Canada, it's important to understand some key aspects:
- Canadian Demo Accounts: Many Canadian brokers offer demo accounts, which allow you to practice trading with simulated funds. This is a great way to learn the platform, test strategies, and gain experience before risking real capital.
- Trading Opportunities: Canada is a stable and well-regulated financial market, ranking [World Bank ranking] in ease of doing business according to the World Bank. This fosters a secure environment for investors, particularly small investors who benefit from strong investor protection measures.
Benefits of Trading with Canadian Brokers:
- Convenience and Accessibility: Online platforms allow you to trade from anywhere with an internet connection.
- Lower Fees: Online brokers typically have lower fees compared to traditional brokers.
- Advanced Platforms: Many online brokers offer user-friendly platforms with a variety of research tools and features.
Challenges of Trading in the Canadian Market:
- External Market Dependence: The Canadian market can be influenced by external factors, such as the ongoing trade war between the US and China.
- Exchange System Outages: While rare, technical issues can occur, as evidenced by the TMX exchange outage last year.
Things To Know About Trading In Canada
Before you start trading in Canada, here are some key factors to consider:
Currency
Prices in CAD: Stock quotes on Canadian exchanges are listed in Canadian dollars (CAD) by default. While some platforms offer currency conversion, it's helpful to be comfortable with CAD or use a currency converter.
Market Liquidity
Less Liquid Compared to US: The Canadian stock market (TSE) has a smaller market capitalization compared to the US (NYSE). This means stocks are traded less frequently in Canada. Consider this when developing your trading strategies, especially if you prefer frequent trading.
Investment Options
Variety by Broker: Canadian brokers offer varying investment options. Some specialize in stocks, while others might offer futures, options, ETFs, and even cryptocurrencies. Research your chosen broker to ensure they offer the assets you want to trade before opening an account.
Account Maintenance Fees
More Common: Unlike the US, many Canadian brokers charge annual or maintenance fees unless you meet specific trading activity requirements or have a high-value account. Consider these fees when choosing a broker.
Tax-Advantaged Accounts
RRSPs: Canadian brokers offer Registered Retirement Savings Plans (RRSPs) similar to US IRAs, allowing for tax-advantaged investing. If you're not a Canadian resident, you'll likely be limited to a regular taxable account.
What To Look For In A Trading Platform In Canada
Choosing the right trading platform in Canada is crucial for your investment success. Here are some key factors to consider:
Low Commissions and Fees
Commissions and fees can significantly impact your returns, especially for active traders. While commission-free trades are rare in Canada, compare brokerages and prioritize those with low commission structures. Even a small difference per trade can add up over time.
Advanced Charting Tools
Technical traders rely heavily on charts to make informed decisions. Look for a platform with a variety of charting tools that cater to your specific needs. This includes the ability to create custom charts, apply technical indicators, and conduct in-depth analysis.
Real-Time Market Data
Fast and accurate real-time market data is essential for short-term trading strategies. Look for a Canadian trading platform that provides up-to-date quotes, news, and economic data to stay ahead of the curve.
Diverse Trading Products
While stock and ETF trading are popular, some platforms offer a wider range of trading products suited for active traders. This may include options, futures contracts, commodities like gold and silver, and even cryptocurrencies (depending on regulations).
Mobile Trading App
Modern trading platforms often offer a mobile app, allowing you to trade on the go. However, not all apps offer the same functionality as the desktop platform. Ensure the mobile app provides a user-friendly interface with the features you need to execute trades effectively.
Canadian Brokers Verdict
When evaluating Canadian brokers, consider several crucial aspects: investor needs, regulatory compliance, range of services, and technological infrastructure. Canada's brokerage landscape offers a wide spectrum of options catering to diverse investor profiles, from beginners to seasoned traders.
The best Canadian broker for you depends on your investment style, experience level, and specific needs. Regulatory compliance and investor protection are given, thanks to Canada's stringent financial oversight. However, the decision often comes down to the trade-off between costs and the breadth of services.
Active traders might prioritize low transaction costs and advanced trading platforms, while long-term investors may value comprehensive research, advisory services, and a broader investment selection.
Ultimately, investors are advised to conduct thorough research, compare multiple brokers based on the criteria most important to them, and consider starting with a demo account to test the trading platform and services offered.
Choosing the right broker is crucial for successful investing in Canada's diverse markets. Whether you're interested in Exchange-Traded Funds (ETFs), individual stocks, currency trading between CAD and USD, or the burgeoning sector of artificial intelligence (AI), it's important to research and compare brokers that best suit your investment goals. Useful resources like Canadian ETF, Canadian stock brokers, Canadian vs USD currency, and Canadian AI stocks can provide insightful comparisons and analyses, helping you make an informed decision.
We have conducted extensive research and analysis on over multiple data points on Canada Brokers to present you with a comprehensive guide that can help you find the most suitable Canada Brokers. Below we shortlist what we think are the best canadian brokers after careful consideration and evaluation. We hope this list will assist you in making an informed decision when researching Canada Brokers.
Trading in Canada
When trading in Canada you will need to chec what your options with your Canada trading broker are.
We list below the various regulated trading account types available to traders in Canada. If you are looking for a trading platform or broker in Canada that are suitable for trading in Forex, CFD's, indices, stocks, and ETFs, Cryptocurrencies (availability subject to regulation) or commodity markets; this Canada broker guide will explain the things you should check and be aware of before you invest.
Forex Trading in Canada
You've probably noticed how Forex trading is really taking off in Canada, right? Over the past half-dozen years or so, the trading volume in Canada has been on a steady climb. It's like everyone in Canada is getting in on the action. But traders in Canada must understand the risks.
Across the world $7.5 trillion USD in volume is traded every single day. Commodities global trading volume is around $380 million USD a day. Global stock markets trading volume is around 460 million USD a day.
Modern software, more affordable mobile devices in Canada and higher internet uptake in Canada has increased competition for new trading clients among brokerages in Canada, which has opened Forex trading to a new audience.
Is Forex Trading Legal in Canada?
There's this common myth floating around that diving into Forex trading in Canada is illegal, this is not the case, but Forex trading in Canada is risky. Forex trading in Canada is not a get rich quick scheme, you will be competing with people not just in Canada, but all over the world. The key, though, is to be smart about it. You have to choose a broker in Canada that's not just reputable but also strictly regulated and allowed to offer services to traders in Canada.
Trading in Forex is allowed in Canada as businesses dealing internationally must exchange currency. Forex is an integral part of import and export in Canada and investing internationally. Canada Forex trading is not banned, their are many top-notch international online brokers available to traders in Canada offering regulated trading environments.
Do Forex Traders Pay Tax in Canada?
Once a traders profits reach a level where the income on the Forex trading can be taxed in Canada the trader should make sure all taxes owed for a financial year are paid. Just a heads up about the tax situation here in Canada. You've must file taxes in Canada even if the markets chewed you up and you spat out losses this year. Also in Canada you can't claim any trading losses against your personal income taxes, unfortunately. Don't just wing it - get yourself some solid advice from a qualified tax pro in Canada who knows the ins and outs of the tax labyrinth in Canada. In Canada, Islamic accounts are not restricted.
Cryptocurrencies in Canada
Here in Canada, the crypto scene is still pretty new, and cryptocurrency in Canada is getting more and more tangled up in the local financial regulatory rule in Canada. The thing about cryptos is, they operate on this decentralized model, right? So, unlike our traditional currency markets in Canada, they're not as rattled by interest rate shifts or the political drama in Canada that's always on the news. Crypto in Canada is a different beast altogether.
You know, with the surge of younger traders in Canada, who are not only tech-savvy but also starting to speculate with decent money in Canada, there's a noticeable shift happening in Canada towards the crypto market (which is highly volitle and high risk in Canada). Cryptocurrency traders in Canada contribute to the $20 billion USD worth of Bitcoin is traded daily around the world.
Commodity Trading in Canada
In Canada commodity trading includes the trade in precious metals, energies and agricultural commodities.
Some commodities like metals are seeing exponential growth in Canada since 2002.
Fast growing countries like China and India have been growing rapidly over the last 3 decades. This has meant that countries like China and India have a vast requirement for many basic commodities and raw materials for their populations. Crops to feed people and metal to build infrastructure for example. This means countries like Canada are able to take advantage of this demand.
We list brokers that allow you to trade commodities in Canada here.
Islamic Accounts in Canada
Canada brokers support Islamic accounts or swap-free accounts. Canada Islamic accounts have no rollover interest on overnight positions to comply the Muslim faith. Traders of Islamic faith are forbidden to pay interest. Brokers in Canada offer accounts that are suitable for Islamic traders. These Canada brokers complies with Sharia law.
Benefits of Trading in Canada
Canada economy and population is growing. The middle class population in Canada is increasing which means a growing consumer base. Many business and financial opportunities exist in Canada. Canada has a young population educated in technology and the internet.
Concerns of Trading in Canada
Canada digitisation of financial trading has made it easier to defraud unsuspecting investors across the internet. Make sure the broker you trade with is regulated and passes the checklist in this Canada guide. Educate yourself as much as possible open a demo account if necessary be you open a live trading account.
Learn about leverage when trading. Canada Brokers offering high leverage trades in Canada can mean high profit margins. But this goes both was it can also mean huge losses. There are things like negative balance protection and stop loss accounts which some Canada brokers offer as a level of protection. you can learn more about further below on this guide.
Reputable Canadian Brokers Checklist
Selecting a reliable and reputable online Canadian trading brokerage involves assessing their track record, regulatory status, customer support, processing times, international presence, and language capabilities. Considering these factors, you can make an informed decision and trade Canadian more confidently.
Selecting the right online Canadian trading brokerage requires careful consideration of several critical factors. Here are some essential points to keep in mind:
- Ensure your chosen Canadian broker has a solid track record of at least two years in the industry.
- Verify that the Canadian broker has a customer support team of at least 15 members responsive to queries and concerns.
- Check if the Canadian broker operates under the regulatory framework of a jurisdiction that can hold it accountable for any misconduct or resolve disputes fairly and impartially.
- Ensure that the Canadian broker can process deposits and withdrawals within two to three days, which is crucial when you need to access your funds quickly.
- Look for Canadian brokers with an international presence in multiple countries, offering its clients local seminars and training programs.
- Ensure the Canadian broker can hire staff from diverse locations worldwide who can communicate fluently in your local language.
It is not essential that your brokerage is local but they must have regulation from a Tier 1 reputable country. In fact the brokers international regulation could be more reputable than your local region.
When deciding to trade and find a suitable Canadian broker if you wish your broker to be 100% local check they are governed and regulated by the below.
- British Columbia Securities Commission (BCSC)
- Canadian Investor Protection Fund (CIPF)
- Financial Transactions and Reports Analysis Center of Canada (FINTRAC)
- Investment Industry Regulatory Organization of Canada (IIROC)
- Ontario Securities Commission (OSC)
- Ombudsman of Banking Services and Investments (OBSI)
- The Cayman Islands Monetary Authority (CIMA)
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
Compare Key Features of Canadian Brokers in Our Brokerage Comparison Table
When choosing a broker for canadian trading, it's essential to compare the different options available to you. Our canadian brokerage comparison table below allows you to compare several important features side by side, making it easier to make an informed choice.
- Minimum deposit requirement for opening an account with each canadian broker.
- The funding methods available for canadian with each broker.
- The types of instruments you can trade with each canadian broker, such as forex, stocks, commodities, and indices.
- The trading platforms each canadian broker provides, including their features, ease of use, and compatibility with your devices.
- The spread type (if applicable) for each canadian broker affects the cost of trading.
- The level of customer support each canadian broker offers, including their availability, responsiveness, and quality of service.
- Whether each canadian broker offers Micro, Standard, VIP, or Islamic accounts to suit your trading style and preferences.
By comparing these essential features, you can choose a canadian broker that best suits your needs and preferences for canadian. Our canadian broker comparison table simplifies the process, allowing you to make a more informed decision.
Top 15 Canadian Brokers of 2024 compared
Here are the top Canadian Brokers (CA).
Compare canadian brokers for min deposits, funding, used by, benefits, account types, platforms, and support levels. When searching for a canadian broker, it's crucial to compare several factors to choose the right one for your canadian needs. Our comparison tool allows you to compare the essential features side by side.
All brokers below are canadian brokers. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more canadian brokers that accept canadian clients.
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XTB
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FP Markets
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EasyMarkets
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SpreadEx
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FXPrimus
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forexmart
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Eightcap
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ForTrade
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IB
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Forex.com
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IG
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| locality | XTB accept Canadian clients | FP Markets accept Canadian clients | easyMarkets accept Canadian clients | SpreadEx accept Canadian clients | FXPrimus accept Canadian clients | ForexMart accept Canadian clients | Eightcap accept Canadian clients | ForTrade accept Canadian clients | Interactive Brokers accept Canadian clients | Forex.com accept Canadian clients | IG accept Canadian clients |
| Regulation | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) | Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Investment Industry Regulatory Organization of Canada (IIROC), National Bank of the Republic of Belarus (NBRB) | Financial Conduct Authority (FCA) | Financial Conduct Authority (FCA), The Australian Securities and Investments Commission (ASIC), Cayman Islands Monetary Authority (CIMA), Investment Industry Regulatory Organization of Canada (IIROC), National Futures Association (NFA), Commodities Futures Trading Commission (CFTC), The Monetary Authority of Singapore (MAS), Financial Services Agency (FSA), The Securities and Futures Commission (SFC), Cyprus Securities & Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) |
| Min Deposit | No minimum deposit | 100 | 100 | 1 | 100 | 1 | 100 | 100 | 10000 | 100 | No minimum deposit |
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| Used By | 1,000,000+ | 10,000+ | 142,500+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ | 1,000,000+ | 10,000+ | 200,000+ | 239,000+ |
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| Platforms | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4,WEB,desktop | MT4, Tablet & Mobile apps | MT4, Binary, Tablet & Mobile apps | Web Trader, NinjaTrader, Tablet & Mobile apps | MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile apps | MT4, Mac, Web Trader, L2 Dealer, Tablet & Mobile apps |
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| Learn More |
Sign
Up with xtb |
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Up with fpmarkets |
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Up with easymarkets |
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Up with spreadex |
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Up with fxprimus |
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Up with forexmart |
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Up with eightcap |
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Up with fortrade |
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Up with interactivebrokers |
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Up with forexcom |
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Up with ig |
| Risk Warning | 76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. |
| Demo |
XTB Demo |
FP Markets Demo |
easyMarkets Demo |
SpreadEx Demo |
FXPrimus Demo |
ForexMart Demo |
Eightcap Demo |
ForTrade Demo |
Interactive Brokers Demo |
Forex.com Demo |
IG Demo |
| Excluded Countries | US, IN, PK, BD, NG , ID, BE, AU | US, JP, NZ | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US, TR | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. | RU | US | US | US | BE | US, BE, FR, IN, IL, PL, ZW |
All Canadian brokers in more detail
You can compare Canadian Brokers ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
We also have an indepth Top Canadian Brokers for 2024 article further below. You can see it now by clicking here
We have listed top Canadian brokers below.
Canadian Brokers Table of Contents
- Financial Markets in Canada
- Online Trading in Canada
- Forex Trading in Canada
- Is Forex Trading Legal in Canada
- Do Forex Traders Pay Tax in Canada
- Cryptocurrencies in Canada
- Commodity Trading in Canada
- Islamic Accounts in Canada
- Benefits of Trading in Canada
- Concerns of Trading in Canada
- Canadian Brokers Explained
- 6 Factors to Consider when Choosing Canadian Brokers
- Are Your Canadian Brokers Trusted And Established?
- Are The Canadian Brokers World Leading?
- What are the Canadian Brokers Commissions and Fees?
- What are the Canadian Brokers Funding and Withdrawl Methods?
- Find Canadian Brokers with Round-the-clock support?
- Make sure the Canadian Brokers Offer Comprehensive Trader resources?
- Why Canadian Brokers needs to be regulated?
- Canadian Brokers FAQ
- What are the best Canadian brokers?
- What is the best Canadian broker?
- Is Forex Trading Legal in Canada?
- Do Forex Traders Pay Tax in Canada?
- How do you trade Forex or CFDs in Canada?
- Related Canadian Brokers Reviews
- Related Canadian Brokers Alternatives
- Related Canadian Brokers Comparisons
Canadian Brokers Explained
Trading volatile financial markets with Canadian Brokers can be challenging, even for experienced traders. In addition to the online educational resources available, traders should consider the platform offered by Canadian Brokers to ensure a successful trading experience.
Selecting Canadian Brokers at the forefront of innovation and considered an industry leader is crucial. Doing so will ensure you are equipped with the tools and features to navigate volatile Canadian markets effectively.
Reliability is key to gaining access to financial markets. Look for Canadian Brokers that you can rely on to provide a stable and secure trading environment, allowing you to execute trades with Canadian Brokers confidently.
6 Factors to Consider when Choosing Canadian Brokers
Follow these five rules for selecting Canadian Brokers that are right for you:
Are Your Canadian Brokers Trusted And Established?
Search for a reputable Canadian Brokers with a extensive proven track record for Canadian, enabling you to focus solely on implementing your trading strategy and navigating the markets with confidence. The top rated Canadian broker is XTB. Established in 2002, and in operation for 16 years XTB have a head office in Poland.
XTB is regulated. This means XTB are supervised by and is checked for conduct by FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) regulatory bodies.
Another top rated broker is FP Markets.
FP Markets was established 2005, and in operation for 15 years FP Markets have a head office in Australia.
FP Markets is regulated. This means FP Markets are supervised by and is checked for conduct by FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) regulatory bodies.
| Broker |
XTB
|
FP Markets
|
EasyMarkets
|
SpreadEx
|
FXPrimus
|
forexmart
|
Eightcap
|
ForTrade
|
|---|---|---|---|---|---|---|---|---|
| Year Established | 2002 | 2005 | 2001 | 1999 | 2009 | 2015 | 2015 | 2014 |
| Head Office | Poland | Australia | Cyprus, Australia | UK | Cyprus | Cyprus | Australia | UK |
| Regulation | FCA (Financial Conduct Authority reference 522157), CySEC (Cyprus Securities and Exchange Commission reference 169/12), FSCA (Financial Sector Conduct Authority), XTB AFRICA (PTY) LTD licensed to operate in South Africa, KPWiG (Polish Securities and Exchange Commission), DFSA (Dubai Financial Services Authority), DIFC (Dubai International Financial Center), CNMV (Comisión Nacional del Mercado de Valores), KNF (Komisja Nadzoru Finansowego), IFSC (Belize International Financial Services Commission license number IFSC/60/413/TS/19) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), FSCA (FSP Number 50926), Capital Markets Authority (CMA), Securities Commission of the Bahamas (SCB) | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) | Financial Conduct Authority (FCA) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) | Cyprus Securities and Exchange Commission (CySEC) | Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Investment Industry Regulatory Organization of Canada (IIROC), National Bank of the Republic of Belarus (NBRB) |
| Used By | 1,000,000+ | 10,000+ | 142,500+ | 10,000+ | 10,000+ | 10,000+ | 10,000+ | 1,000,000+ |
| Negative balance protection | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Guaranteed Stop Loss | No | No | Yes | Yes | No | Yes but 10% | No | No |
| Learn More | Visit XTB | Visit FP Markets | Visit easyMarkets | Visit SpreadEx | Visit FXPrimus | Visit ForexMart | Visit Eightcap | Visit ForTrade |
| Risk Warning | 76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | Your capital is at risk |
Are The Canadian Brokers World Leading?
Opt for Canadian Brokers that set themselves apart as an industry leader by actively embracing innovation. Take XTB as an example, which is renowned for Segregates clients funds and boasts an extensive array of 5600 tradable instruments. Moreover, XTB caters to the needs of its clients with both an online trading platform and a mobile application, making it incredibly convenient to access the markets from anywhere, at any time.
In addition, the XTB platform enables access to a variety of financial markets worldwide. XTB is a world-leader when it comes to innovation and they are always looking at ways to improve and to maintain their competitive advantage.
Another good choice when looking for Canadian Brokers is FP Markets. FP Markets Segregates clients funds and offers over 290 instruments.
| Broker |
XTB
|
FP Markets
|
EasyMarkets
|
SpreadEx
|
FXPrimus
|
forexmart
|
Eightcap
|
ForTrade
|
|---|---|---|---|---|---|---|---|---|
| Instruments Available | 5600 | 290 | 200 | 15000 | 130 | 111 | 100 | 100 |
| Platforms | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, TradingView, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4,WEB,desktop | MT4, Tablet & Mobile apps | MT4, Binary, Tablet & Mobile apps |
| Excluded Countries | US, AU, CA, JP, KR, KP, SG, MU, IL, TR, IN, PK, BA, ET, UG, CU, SY, BD, NG, ID, BE, LY, MO, KE, YE, VU, GY, CD, CG, AF, LA, MZ, IQ, IR | US, JP, NZ | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE | US | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR,US, AU, SY, DZ, JP, EC. | RU | US | US |
| Forex pairs offered | 57 | 70 | 150 | 55 | 45 | 100 | 45 | 70 |
| Forex pairs offered | 57 | 70 | 150 | 55 | 45 | 100 | 45 | 70 |
| Major forex pairs | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes |
| Cryptocurrencies (availability subject to regulation) | No | Yes | Yes | Yes | No | Yes | No | Yes |
| Commodities Offered | 21 | 18 | 12 | 16 | 0 | 0 | 0 | 0 |
| Metals | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
| Energies | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
| Agricultural | Yes | Yes | Yes | Yes | No | Yes | No | |
| Stocks Offered | 1696 | 10000 | 52 | 1000 | 60 | 53 | 0 | 190 |
| UK Shares | Yes | Yes | Yes | Yes | Yes | Yes | No | |
| US Shares | Yes | Yes | Yes | Yes | Yes | No | No | |
| German Shares | Yes | Yes | Yes | Yes | No | No | Yes | |
| Japanese Shares | Yes | Yes | Yes | Yes | No | No | Yes |
What are the Canadian Brokers Commissions and Fees?
Ensure that your broker is transparent with fees and those dues are competitive.
The best rated Canadian broker XTB offers competitive offers for Forex, CFDs, Cryptocurrency. XTB minimum deposit is 0.
Another top rated Canadian broker FP Markets offers Forex, CFDs. FP Markets minimum deposit is 100. Please note that any cryptocurrency availability with any broker is subject to regulation.
| Broker |
XTB
|
FP Markets
|
EasyMarkets
|
SpreadEx
|
FXPrimus
|
forexmart
|
Eightcap
|
ForTrade
|
|---|---|---|---|---|---|---|---|---|
| Min Deposit | 0 | 100 | 100 | 1 | 100 | 1 | 100 | 100 |
| Withdrawl Fees | varies | No | No | 0, minimum £50 | Varies | 5 | Yes | No |
| Inactivity Fees | Yes | No | No | No | No | No | No | |
| Deposit Fees | No | Yes | No | No | Varies | Yes | Yes | |
| CFD Commission Fees | Yes | Yes | No | No | No | Yes | Yes |
What are the Canadian Brokers Funding and Withdrawal Methods?
Efficient and hassle-free funding and withdrawal facilities can significantly improve your overall trading experience when dealing with Canadian Brokers. It streamlines the trading process and helps you focus on making informed decisions rather than worrying about deposit and withdrawal matters with Canadian Brokers.
| Broker |
XTB
|
FP Markets
|
EasyMarkets
|
SpreadEx
|
FXPrimus
|
forexmart
|
Eightcap
|
ForTrade
|
|---|---|---|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Credit Cards | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Paypal | Yes | Yes | No | No | No | No | No | Yes |
| Skrill | Yes | Yes | Yes | Yes | No | Yes | No | No |
| Payoneer | Yes | No | No | Yes | Yes | No | Yes | Yes |
| Neteller | Yes | Yes | Yes | No | Yes | Yes | No | Yes |
Find Canadian Brokers with Round-the-clock support?
Effective customer service is an essential factor to consider when dealing with Canadian Brokers.
Canadian Brokers customer service entails various support services to aid customers in making the most cost-effective and appropriate use of the brokers' services.
The customer support options offered by Canadian Brokers can include phone answering services, live chat support, and email customer service support.
XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
FP Markets support a wide range of languages including English, Arabic, Indonesian, Italian, Spanish, French, Russian, Chinese, Japanese, German, Portuguese, Thai, French, Malay, Greek, Vietnamese, Romanian, Turkish, Slovenian, Dutch, Polish, Finnish, Norwegian, Swedish, Serbian, Lithuanian, Hungarian, Galician, Estonian, Danish, Czech, Croatian, Bulgarian, Basque
XTB and FP Markets offer support where clients are able to call or contact the helpdesk via email or a chat service.
| Broker |
XTB
|
FP Markets
|
EasyMarkets
|
SpreadEx
|
FXPrimus
|
forexmart
|
Eightcap
|
ForTrade
|
|---|---|---|---|---|---|---|---|---|
| Support |
|
|
|
|
|
|
|
|
| Languages | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish | English, Arabic, Indonesian, Italian, Spanish, French, Russian, Chinese, Japanese, German, Portuguese, Thai, French, Malay, Greek, Vietnamese, Romanian, Turkish, Slovenian, Dutch, Polish, Finnish, Norwegian, Swedish, Serbian, Lithuanian, Hungarian, Galician, Estonian, Danish, Czech, Croatian, Bulgarian, Basque | English, German, Arabic, Chinese, Spanish and Polish | English | English, Spanish, Indonesian, Chinese, Thai, Vietnamese, Hungarian, and Malaysian | English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian | English, and Chinese | English, German, Spanish, French, Croatian, Italian, Dutch, Polish, Portuguese, Slovene, Swedish, Russian, Arabic, Albanian, Macedonian |
| Learn More | Visit XTB | Visit FP Markets | Visit easyMarkets | Visit SpreadEx | Visit FXPrimus | Visit ForexMart | Visit Eightcap | Visit ForTrade |
| Risk Warning | 76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | Losses can exceed deposits | Your capital is at risk | Losses can exceed deposits | Your capital is at risk |
Make sure the Canadian Brokers Offer Comprehensive Trader resources?
It's important to ensure your Canadian Brokers provide complimentary resources such as analysis, education, and risk management tools. XTB and FP Markets collaborate with top analysts to bring the most up-to-date news and insights to traders.
Sound risk and money management are vital to financial market navigation with Canadian Brokers. However, selecting the best broker to access the markets is a critical step that traders should not overlook as they embark on trading live financial markets with Canadian Brokers.
Why Canadian Brokers needs to be regulated?
Regulated Canadian Brokers lowers your risk of loss of deposited trading funds.
Lowering your risk is one of the benefits of working with a properly regulated Canadian Brokers.
Consumers are protected by Canadian Brokers regulation, critical to preventing inadequate services and potential financial harm.
Regulation of Canadian Brokers is necessary to prevent fraud. The Canadian Brokers working capital and client-funded accounts must be kept separate to avoid conducting business with client funds. Any fraudulent behaviour with Canadian Brokers is monitored by financial regulators in the jurisdictions brokers are allowed to operate.
Canadian Brokers List
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mirror Trader, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, cTrader, IRESS, Mac, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, Web Trader, TradingView, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4,WEB,desktopCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Binary, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
Web Trader, NinjaTrader, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, MT5, WebTrader, Advantage Trader Pro, TradingView, Tablet and mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Funding methods
Bank transfer Credit Card PaypalPlatforms
MT4, Mac, Web Trader, L2 Dealer, Tablet & Mobile appsCustomer support
Live chat Phone support Email supportAccount Types
Micro account Standard account ECN accountIslamic account VIP account
Learn more
76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
76-85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.