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Best Day Trading Platforms and Brokers in Canada 2024

Written By

Jemma Grist

Written By

Jemma Grist

Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.

» Jemma Grist Profile Page

Fact Checked By

James Barra

Fact Checked By

James Barra

James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.

» James Barra Profile Page

Updated

Mar 21, 2024

The best day trading brokers in Canada offer high-quality charting platforms, competitive pricing, margin trading and fast execution.

Many firms are regulated by the Canadian Investment Regulatory Organization (CIRO) and offer tailored conditions for Canadian day traders, including live accounts denominated in the Canadian Dollar (CAD). They also provide access to popular markets such as the Toronto Stock Exchange (TSX) and currency pairs like the USD/CAD.

Here you will find the best brokers for day trading in Canada. Each platform accepts Canadian investors and has been tested rigorously by our experts using demo or real-money accounts.

Best 5 Platforms For Day Trading In Canada

After evaluating hundreds of online platforms, these are the top 5 brokers for day trading in Canada:

1. AvaTrade - AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit.
2. Eightcap - Eightcap delivers in every area for day traders with a growing selection of charting platforms and AI-powered tools. Now sporting 250+ crypto CFDs and the Crypto Crusher market scanner, it's also become a stand-out choice for crypto trading, winning our 'Best Crypto Broker' award two years in a row.
3. FOREX.com - FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools.
4. FXCC - FXCC continues to prove itself an excellent option for forex day traders with an extensive range of 70+ currency pairs, ultra-tight spreads from 0.0 pips during testing, and high leverage up to 1:500 in the ECN XL account.
5. Fusion Markets - Fusion Markets is a standout option for forex traders looking for excellent pricing with spreads near zero, industry-low commissions and recently TradingView integration. It’s a particularly good broker for Australian traders where the company is headquartered and regulated by the ASIC.

Best Day Trading Platforms and Brokers in Canada 2024 Comparison

Best Day Trading Platforms and Brokers in Canada 2024 Comparison

Broker	CAD Account	CIRO Regulated	Minimum Deposit	Markets	Platforms	Leverage	Visit
	✔	-	$300	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting	WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade	1:30 (Retail) 1:400 (Pro)	Visit
	✔	-	$100	CFDs, Forex, Stocks, Indices, Commodities, Crypto	MT4, MT5, TradingView	1:500	Visit
	✔	✔	$100	Forex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto	MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral	1:200 (Retail), 1:500 (Pro)	Visit
	-	-	$0	CFDs, Forex, Indices, Commodities, Crypto	MT4	1:500	Visit
	✔	-	$0	CFDs, Forex, Stocks, Indices, Commodities, Crypto	MT4, MT5, cTrader, TradingView, DupliTrade	1:500	Visit
	✔	-	$100	CFDs, Forex, Indices, Commodities, Stocks, Crypto	MT4, MT5	1:500	Visit
	-	-	$1	Currencies, Cryptocurrencies, Stocks, Indices, Metals, Oil and Gas, Commodity Futures and InstaFutures	MT4, MT5	1:1000	Visit
	✔	-	$0	Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos	MT4, MT5, cTrader, TradingView, AutoChartist	1:500	Visit
	-	-	$10	CFDs, Forex, Stocks, Indices, Commodities, Crypto	BDSwiss Webtrader, MT4, MT5	1:30	Visit
	✔	✔	$0	CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting	Web, MT4	1:30 (Retail), 1:500 (Pro)	Visit
	-	-	$50	Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos	Web, MT4, MT5	-	Visit
	-	-	$250	Binary Options, CFDs, Forex, Indices, Commodities, Crypto	Online Platform, TradingView	1:500	Visit
	-	-	$0.01	Crypto	BitMEX Web Platform, AlgoTrader, TradingView	-	Visit
	✔	-	$0	Forex, CFDs, indices, shares, commodities, cryptocurrencies	MT4, AutoChartist, DupliTrade	1:400	Visit
	-	-	$10	Forex, CFDs, Indices, Stocks, Commodities, Cryptocurrencies	MT4	1:500	Visit

#1 - AvaTrade

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Review

Why We Chose AvaTrade

AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.

• Instruments: CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
• Regulator: ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
• Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
• Minimum Deposit: $300
• Minimum Trade: 0.01 Lots
• Leverage: 1:30 (Retail) 1:400 (Pro)

Pros

• WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders
• The broker offers reliable 24/5 multilingual customer support with fast response times during testing
• AvaTrade is a heavily regulated and trustworthy broker with licenses from the ASIC, CySEC and more

Cons

• There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
• Traders from the US are not accepted
• A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners

Visit AvaTrade

#2 - Eightcap

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Review

Why We Chose Eightcap

Eightcap is a multi-regulated forex and CFD broker established in Australia in 2009. The broker has proven popular with active day traders, providing 1,000+ instruments with tight spreads and notable improvements in recent years, integrating the leading TradingView platform, alongside AI-powered financial calendars and algo trading tools with zero coding experience required.

• Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
• Regulator: ASIC, FCA, xCySEC, SCB
• Platforms: MT4, MT5, TradingView
• Minimum Deposit: $100
• Minimum Trade: 0.01 Lots
• Leverage: 1:500

Pros

• Having excelled across all key areas for day traders, Eightcap outperformed more than 490 competitors to win our 'Best Overall Broker' award for 2024, also securing our 'Best Crypto Broker' title.
• After bolstering its roster in 2021, Eightcap offers one of the most extensive selections of cryptocurrency CFDs in the market, with crypto/fiat pairs, crypto/crypto pairs, plus crypto indices for broader exposure to the market.
• With tight spreads from 0 pips, low commission fees, and high leverage up to 1:500 for certain clients, Eightcap provides cost-effective and flexible trading conditions that can accommodate an array of strategies, including day trading and scalping.

Cons

• Eightcap needs to continue bolstering its suite of instruments to match category leaders like Blackbull Markets with its 26,000+ assets, featuring a particularly weak selection of commodities.
• Despite a useful library of educational guides and e-books, Eightcap still trails IG’s comprehensive toolkit for aspiring traders with its dedicated IG Academy app and 18 course categories.
• In spite of an increasing variety of tools, Eightcap doesn't offer industry favorites like Autochartist or Trading Central, which offer cutting-edge charting analytics, live news, and market insights for short-term traders.

Visit Eightcap

#3 - FOREX.com

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Review

Why We Chose FOREX.com

Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

• Instruments: Forex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto
• Regulator: NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA
• Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
• Minimum Deposit: $100
• Minimum Trade: 0.01 Lots
• Leverage: 1:200 (Retail), 1:500 (Pro)

Pros

• FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
• There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
• Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.

Cons

• There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
• FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
• Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.

Visit FOREX.com

#4 - FXCC

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Review

Why We Chose FXCC

FXCC is an established broker that’s been offering low-cost online trading since 2010. Registered in Nevis and regulated by the CySEC, it stands out for its ECN trading conditions, no minimum deposit and smooth account opening that takes less than 5 minutes.

• Instruments: CFDs, Forex, Indices, Commodities, Crypto
• Regulator: CySEC
• Platforms: MT4
• Minimum Deposit: $0
• Minimum Trade: 0.01 Lots
• Leverage: 1:500

Pros

• Competitive and transparent ECN spreads from 0.0 pips with zero commissions, making FXCC one of the cheapest forex brokers
• As an MT4 broker, FXCC offers advanced charting tools and excellent support for algo traders, especially when combined with the free VPS
• The free education section, including the 'Traders Corner' blog, offers a large selection of materials that will serve all experience levels

Cons

• Although MetaTrader 4 continues to shine for technical analysis, the subpar design dampens the trading experience, especially compared to modern alternatives like TradingView
• There is a threadbare selection of research tools like Trading Central and Autochartist, value-add features available at category leaders like IG
• While the range of currency pairs exceeds most alternatives, the selection of additional assets is narrow, and notably, there are no stocks

Visit FXCC

#5 - Fusion Markets

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Review

Why We Chose Fusion Markets

Fusion Markets is an online broker established in 2017 and regulated by the ASIC, VFSC and FSA. It is best known for its low-cost forex and CFD trading, although its multiple account types and copy trading solutions cater to a range of traders. New clients can sign up and start trading in 3 easy steps.

• Instruments: CFDs, Forex, Stocks, Indices, Commodities, Crypto
• Regulator: ASIC, VFSC, FSA
• Platforms: MT4, MT5, cTrader, TradingView, DupliTrade
• Minimum Deposit: $0
• Minimum Trade: 0.01 Lots
• Leverage: 1:500

Pros

• Fusion Markets continues to impress with its pricing that provides tight spreads with below-average commissions that will appeal to active day traders.
• The range of charting platforms and social trading features is excellent, with MT4, MT5, cTrader and more recently TradingView, catering to a wide range of trader preferences.
• Fusion Markets is set up to support algo traders with a sponsored VPS solution and a 25% discount if you opt for the NYC Servers VPS for MT4 or cTrader.

Cons

• Fusion Market trails alternatives, notably eToro and IG, in the education department with limited guides and live video sessions to upskill new traders.
• The demo account expires after 30 days, limiting its potential as a useful trading tool alongside a real-money account.
• There is no proprietary trading platform or app built with beginners in mind, a notable drawback compared to AvaTrade.

Visit Fusion Markets

How To Choose A Day Trading Broker In Canada

Based on our extensive experience in the industry, there are several factors to consider before registering with a day trading broker:

Choose A Regulated And Trusted Platform

Choosing a trusted brokerage will ensure you are protected from unfair trading practices and scams, some of which have been prevalent in Canada.

One example is the Alberta couple who operated a fake investment company and defrauded victims out of $1.3 million. Fernando Honorate de Silva Fagundes and his wife, Emilia Alas-As Elansin, used a phoney investment course to lure victims based in Alberta and British Columbia.

We therefore always check whether brokers are regulated by trusted authorities, such as the Canadian Investment Regulatory Organization (CIRO), which subject firms to strict monitoring and audit procedures.

We also look out for a long track record, a strong reputation and positive client reviews, especially in cases where a CIRO license isn’t present.

Choose A Broker With Competitive Day Trading Fees

It’s important to choose a broker with low trading and non-trading fees. Active day traders, in particular, are likely to accrue more transaction costs which can eat into profits.

We ensure that brokers offer competitive pricing for traders, including low spreads on popular assets like USD/CAD as well as non-trading fees like deposit and withdrawal charges.

In cases where higher costs are incurred, we consider the overall quality of the broker’s services along with the day trading tools provided to justify such expenses.

Choose A Broker With High-Quality Charting Platforms

Trading on a stable and reliable charting platform is key for day traders who typically require a range of technical tools for uncovering short-term market opportunities.

During our hands-on tests, we look out for high-quality and varied analysis tools suitable for all trading styles and experience levels. A selection of basic technical indicators such as moving averages, as well as more sophisticated solutions such as Ichimoku Cloud, will serve both beginners and seasoned analysts.

Choose A Broker With Diverse Market Coverage

The best online brokers in Canada offer access to a generous range of markets, including popular assets like USD/CAD, EUR/CAD or the Toronto Stock Exchange (TSX).

Most day traders aim to build a diversified trading portfolio, so we look for traditional short-term assets, alongside emerging investments that are popular in Canada, such as Cannabis stocks.

We also assess the availability of specific short-term trading vehicles, including contracts for difference (CFDs) which allow you to speculate on rising and falling prices without owning the underlying security.

Choose A Broker With High-Quality Order Execution

Registering with a broker that delivers fast execution is vital for day trading strategies. Intraday traders require optimum conditions to secure the best chances of success, which means no latency or slippage.

The best brokers in Canada will ideally meet our execution speed benchmark of <100 milliseconds and deliver a high rate of order fulfilment.

Bear in mind that other factors can also affect execution quality, including the order size and the type of asset being traded.

For example, a large order may take more time to fill. Conversely, more liquid assets are typically easier to execute at favorable prices.

Jemma Grist

Author

Choose A Broker That Supports Leverage And Margin Trading

Leverage trading allows you to boost your earnings with only a small initial outlay. Choosing a broker that offers sensible and flexible leverage is important for experienced day traders looking to increase their purchasing power.

For example, a broker may offer you 1:50 leverage (or 2% margin requirement) on the USD/CAD forex pair, which means if you deposit an initial sum of $1000, you have $50,000 to trade with.

However, it’s important to remember that your risk of losses also increases, so a solid risk management strategy is key. It’s also worth checking your broker’s individual margin rules.

Choose A Broker With An Accessible Minimum Deposit

Choosing a broker with an accessible minimum deposit will ensure that you can start trading in line with your budget and financial situation. This is particularly vital for beginners with limited trading capital.

Most Canadian brokers require an initial deposit of <$500, though many of the brokers that we’ve personally tested go even lower.

Methodology

To find the best day trading platforms in Canada, we used both quantitative data and qualitative insights from our rigorous broker reviews, focusing on several factors:

FAQ

Which Day Trading Brokers Accept Clients From Canada?

You can refer to our list of the best day trading brokers in Canada, many of which hold several top-tier licenses, including from the CIRO, and offer a range of assets popular in Canada.

How Much Capital Do I Need To Start Day Trading In Canada?

Most platforms that accept Canadian clients require a first deposit between $0 and $500.

We recommend that beginners opt for a low minimum deposit broker and trade only in small amounts to start with.

Who Regulates Day Trading Brokers In Canada?

The Canadian Investment Regulatory Organization (CIRO) is the authority responsible for licensing investment firms in Canada.

The CIRO works closely with Canada’s provincial umbrella organization, the Canadian Securities Administrators (CSA), which oversees the regulation of capital markets in the 10 provinces and 3 territories of Canada.

You can check your broker’s details on both the CSA and the CIRO registers.

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