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TradersBest.com / Online Broker Reviews

Online Broker Reviews for Canada 2024

Alexander Foster
Alexander Foster
Last Updated on 11/05/2024

There are hundreds of online brokers to choose from these days, with new brokerages always trying to establish themselves.

This can make it quite difficult to find a reliable broker that caters to your trading needs.

So how do you sort the bad apples from the good ones?

That’s where TradersBest.com comes in. We put both new and established providers through their paces with our online broker reviews and help you find a safe and reliable place to trade.

Read More
Top Brands
WBroker
4.8/5
Questrade
4.5/5
Fortrade
4.5/5

Compare the best brokers and CFDs providers for Canada

Stocks
Forex
Crypto
Futures
Funds
ETF
Bonds
WBroker
Recommended
Favicon
4.7/5
  • Major stocks featured
  • Top exchanges covered
  • Minimal trading fees
Account Fee
Order Fee National
Order Fee International
Deposit Protection
Visit Site
T&Cs apply, 19+
Payment Methods
Mastercard
Visa
Tether
License
SFC - Securities & Futures Commission of Hong Kong
Show less
Questrade
Hot Offer
Favicon
4.6/5
  • Some of the lowest trading fees across all of Canada
  • Trading opportunities for everyone – not just Canadian residents
  • World-class educational resources to inform your trading in stocks
Account Fee
Order Fee National
Order Fee International
Deposit Protection
Visit Site
T&Cs apply, 19+
Payment Methods
Visa
Mastercard
License
IIROC - Investment Industry Regulatory Organization of Canada
Show less
Fortrade
Hot Offer
Favicon
4.4/5
  • Over 250 major companies available
  • No commissions on stock purchases
  • 1:5 leverage
Account Fee
Order Fee National
Order Fee International
Deposit Protection
Visit Site
T&Cs apply, 19+
Payment Methods
Skrill
PayPal
Neteller
+
License
FCA - Financial Conduct Authority
Show less
Questrade
Recommended
Favicon
4.6/5
  • A choice of trading platforms, including Questrade Edge
  • Over 100 currency pairs covering majors, minors and exotics
  • Useful resources and tools
Minimum Deposit
Deposit Protection
Maximum Leverage
Visit Site
T&Cs apply, 19+
Payment Methods
Visa
Mastercard
License
IIROC - Investment Industry Regulatory Organization of Canada
Show less
Fortrade
Hot Offer
Favicon
4.6/5
  • Over 60 different forex currency pairs
  • Major, minor and exotic pairs all available
  • Forex operating times between Sunday and Friday
Minimum Deposit
Deposit Protection
Maximum Leverage
Visit Site
T&Cs apply, 19+
Payment Methods
Skrill
PayPal
Neteller
+
License
FCA - Financial Conduct Authority
Show less
WBroker
Recommended
Favicon
4.8/5
  • Stablecoins featured here
  • Low trading costs
  • Safe crypto platform
Minimum Deposit
Deposit Protection
Amount of Currencies
BTC/USD Spread
Visit Site
T&Cs apply, 19+
Payment Methods
Mastercard
Visa
Tether
License
SFC - Securities & Futures Commission of Hong Kong
Show less
Questrade
Hot Offer
Favicon
4.5/5
  • A choice of award-winning trading platforms
  • A choice of crypto ETFs available
  • Onsite learning resources and helpful tools
Minimum Deposit
Deposit Protection
Amount of Currencies
BTC/USD Spread
Visit Site
T&Cs apply, 19+
Payment Methods
Visa
Mastercard
License
IIROC - Investment Industry Regulatory Organization of Canada
Show less
Fortrade
Hot Offer
Favicon
4.5/5
  • Offers Bitcoin and Ethereum
  • Bitocin spreads from $100
  • Leverage available from 1:2
Minimum Deposit
Deposit Protection
Amount of Currencies
BTC/USD Spread
Visit Site
T&Cs apply, 19+
Payment Methods
Skrill
PayPal
Neteller
+
License
FCA - Financial Conduct Authority
Show less
Fortrade
Recommended
Favicon
4.4/5
  • Many futures options available
  • Easy sign up process
  • Transparent costing of trades
Minimum Deposit
Contract Fee
Deposit Protection
Demo Account Available
No
Visit Site
T&Cs apply, 19+
Payment Methods
Skrill
PayPal
Neteller
+
License
FCA - Financial Conduct Authority
Show less
Questrade
Hot Offer
Favicon
4.0/5
  • Trading in futures is not currently supported at Questrade
  • A choice of award-winning trading platforms
  • Helpful resources to encourage a better understanding of online trading
Minimum Deposit
Contract Fee
Deposit Protection
Demo Account Available
No
Visit Site
T&Cs apply, 19+
Payment Methods
Visa
Mastercard
License
IIROC - Investment Industry Regulatory Organization of Canada
Show less
WBroker
Recommended
Favicon
4.8/5
  • Plenty of ETFs
  • Low trading costs
  • Major exchanges featured
Minimum Deposit
Order Fee National
Licence
SFC - Securities & Futures Commission of Hong Kong
Saving Plans Available
No
Visit Site
T&Cs apply, 19+
Payment Methods
Mastercard
Visa
Tether
License
SFC - Securities & Futures Commission of Hong Kong
Show less
Fortrade
Hot Offer
Favicon
4.6/5
  • Trade long or short with 3 major funds
  • Leverage available up to 1:5
  • Live updating info on ETF market changes
Minimum Deposit
Order Fee National
Licence
FCA - Financial Conduct Authority
Saving Plans Available
No
Visit Site
T&Cs apply, 19+
Payment Methods
Skrill
PayPal
Neteller
+
License
FCA - Financial Conduct Authority
Show less
Questrade
Hot Offer
Favicon
4.0/5
  • ETFs can give you exposure to multiple companies or resources at once
  • You’ll receive dividends from the companies within your portfolio
  • Low fees with no additional charges
Minimum Deposit
Order Fee National
Licence
IIROC - Investment Industry Regulatory Organization of Canada
Saving Plans Available
No
Visit Site
T&Cs apply, 19+
Payment Methods
Visa
Mastercard
License
IIROC - Investment Industry Regulatory Organization of Canada
Show less
Interactive Brokers
4.
Favicon
  • Great trading tools and resources available
  • Great customer service
  • Low margin rates
Minimum Deposit
$0.00
Order Fee National
1.00€ + 0.05%
Licence
SEC - U.S. Securities and Exchange Commission
Saving Plans Available
Yes
T&Cs apply, 19+
Payment Methods
Bank Transfer
Visa
Mastercard
License
SEC - U.S. Securities and Exchange Commission
Show More
Fortrade
Recommended
Favicon
4.4/5
  • Numerous bond options available
  • Easy to use platform
  • Access to a range of leverage
Visit Site
T&Cs apply, 19+
Payment Methods
Skrill
PayPal
Neteller
+
License
FCA - Financial Conduct Authority
Show less
Questrade
Hot Offer
Favicon
4.0/5
  • Bond ETFs include corporate, federal and provincial options
  • Minimum bond purchase of $5.000 required
  • No commission fees
Visit Site
T&Cs apply, 19+
Payment Methods
Visa
Mastercard
License
IIROC - Investment Industry Regulatory Organization of Canada
Show less
Interactive Brokers
Hot Offer
Favicon
  • Access to a wide range of bonds options
  • Great trading tools and resources available
  • Great customer service
T&Cs apply, 19+
Payment Methods
Bank Transfer
Visa
Mastercard
License
SEC - U.S. Securities and Exchange Commission
Show less

Online Broker Reviews – How We Test

We aim to provide you with insightful and thorough broker reviews. That way you have all the necessary information at your disposal to make an informed decision about what’s right for you. You’ll rest easy knowing you did so by using a comparative, objective point of view.

In our reviews, you’ll find a range of facets we take into account. We provide overall ratings to each broker based on their performance in these categories. The following sections refer to some of the categories we use for our objective testing and it’s what you can expect to find when reading our online broker tests.

Usability

We take great pride in offering you a user-friendly and hopefully, enlightening, experience on our website. We expect the same from the online brokers offering their services to you. By visiting the official websites and creating demo accounts, we’re able to identify which brokers offer customers the best user experience. Ease of navigation and low-latency is important, especially when you’re trading on a daily basis. You’ll want to know that your chosen broker is able to provide a consistent interface that is innovative and intuitive.

Trading Platforms 

One of the most important aspects of an online broker is the trading platforms employed. Nowadays, you can expect a range of different platforms, each serving a certain trader or trading product. However, the standardized platforms one can expect include a web, desktop, and mobile platform. These three provide users with sufficient access wherever they may find themselves. We’ll assess the strengths and weaknesses of each platform and rate them accordingly.

Payments and Deposit Protection 

Funding your account shouldn’t be a hassle and you’ll definitely want to know that your money is safely secured. We’ll do a deep dive into the security measures and protocols put in place by each online broker. Sensitive information must be encrypted and stored securely. We’ll identify which type of security certificates are in the possession of the brokers, and list all possible payment methods. Nowadays, it’s relatively easy funding an online account. We’ll outline the steps you need to take in order to link your broker account with your chosen payment method.

Customer Service 

We value our readers, and put special emphasis on the ability of providers to look after their own clients. A strong customer service department is a fundamental building block to the success of any online company. Staying engaged with clients and addressing any queries or problems is vital. We’ll outline all the available contact information and communication avenues at your disposal. For traders, this is especially important. Trading can be an around-the-clock endeavor and we’ll ensure you know exactly how to get hold of your provider, no matter the time of day.

Trading Products 

A large slice of our broker reviews analyze the trading products on offer by each respective broker. Whether you’re looking for the best online futures brokers or the best online broker for gold, we will outline the available trading products that you can expect to trade with if you sign up with a broker. We’ll provide you with clarity on the pricing of each trading product and to what degree, you have access to various exchanges. We’ll link this to the available platforms you have at your fingertips and which go hand in hand.

Conclusion – Broker Reviews Round Up

We hope that you find our online broker reviews helpful and that they act as a guide in your decision-making process. The broker reviews will be updated to reflect accurate, current information and you’ll always have up-to-date online broker deals and promotions available at the click of a button. We’re set on providing our readers with expert tips and knowledgeable reviews that make your life easier.

To end off, we’d like to mention that choosing an online broker should be an exciting experience. The world of online trading might be volatile and unexpected at times, but it’s stimulating and empowering too. Having the ability to manage your own finances and make accurate, informed choices is a fantastic thing. In order to do so, you’ll need a broker that you can trust. Our broker reviews will provide you with just that – an online broker with the right capabilities.

Top Crypto Sites
WBroker
WBroker
WBroker Review
4.8/5
Questrade
Questrade
Questrade Review
4.5/5
Fortrade
Fortrade
Fortrade Review
4.5/5
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Receive the latest trading news by email + our free eBook
Nobody is born a trading expert. Register now to receive the Ultimate Guide to Trading Cryptocurrencies in 2022 (and beyond), and receive the TradersBest.com newsletter with the latest market news and broker reviews!.

By registering, I agree that TradersBest.com may send me newsletters via email at regular intervals. This consent can be revoked at any time.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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