Best Day Trading Platforms and Brokers in Canada 2024

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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.
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Fact Checked By
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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.
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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
AvaTrade logo
- $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
Eightcap logo
- $100 CFDs, Forex, Stocks, Indices, Commodities, Crypto MT4, MT5, TradingView 1:500 Visit
FOREX.com logo
$100 Forex, CFDs, Stocks, Indices, Commodities, Futures, Options, Crypto MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral 1:200 (Retail), 1:500 (Pro) Visit
FXCC logo
- - $0 CFDs, Forex, Indices, Commodities, Crypto MT4 1:500 Visit
Fusion Markets logo
- $0 CFDs, Forex, Stocks, Indices, Commodities, Crypto MT4, MT5, cTrader, TradingView, DupliTrade 1:500 Visit
DNA Markets logo
- $100 CFDs, Forex, Indices, Commodities, Stocks, Crypto MT4, MT5 1:500 Visit
InstaForex logo
- - $1 Currencies, Cryptocurrencies, Stocks, Indices, Metals, Oil and Gas, Commodity Futures and InstaFutures MT4, MT5 1:1000 Visit
BlackBull Markets logo
- $0 Forex, CFDs, stocks, indices, energies, metals, commodities, cryptos MT4, MT5, cTrader, TradingView, AutoChartist 1:500 Visit
BDSwiss logo
- - $10 CFDs, Forex, Stocks, Indices, Commodities, Crypto BDSwiss Webtrader, MT4, MT5 1:30 Visit
CMC Markets logo
$0 CFDs, Forex, Stocks, Indices, Commodities, ETFs, Treasuries, Custom Indices, Spread Betting Web, MT4 1:30 (Retail), 1:500 (Pro) Visit
Pocket Option logo
- - $50 Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos Web, MT4, MT5 - Visit
IQCent logo
- - $250 Binary Options, CFDs, Forex, Indices, Commodities, Crypto Online Platform, TradingView 1:500 Visit
BitMEX logo
- - $0.01 Crypto BitMEX Web Platform, AlgoTrader, TradingView - Visit
Axi logo
- $0 Forex, CFDs, indices, shares, commodities, cryptocurrencies MT4, AutoChartist, DupliTrade 1:400 Visit
EagleFX logo
- - $10 Forex, CFDs, Indices, Stocks, Commodities, Cryptocurrencies MT4 1:500 Visit

#1 - AvaTrade

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

  • The broker offers reliable 24/5 multilingual customer support with fast response times during testing
  • WebTrader is well-suited to beginners and features a strong suite of technical analysis tools and market research for day traders
  • Day traders can access stable spreads and zero commissions with no hidden fees

Cons

  • There is no ECN account with raw spreads
  • A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
  • It’s a shame that there are no rebate schemes for serious traders looking for additional perks - CMC Markets would be a better choice here

#2 - Eightcap

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

  • 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.
  • Eightcap stands out with a selection of powerful trading tools, including MT4 and MT5, the innovative algorithmic trading platform Capitalise.ai, and more recently the 50-million strong social trading network TradingView.
  • 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.

Cons

  • 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.
  • The demo account expires after 30 days and can only be extended upon request - a notable inconvenience compared to the likes of XM with its unlimited demo mode.
  • 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.

#3 - FOREX.com

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

  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
  • There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
  • Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.

#4 - FXCC

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

  • The free education section, including the 'Traders Corner' blog, offers a large selection of materials that will serve all experience levels
  • Competitive and transparent ECN spreads from 0.0 pips with zero commissions, making FXCC one of the cheapest forex brokers
  • FXCC is trusted and licensed by the CySEC, a top-tier European regulator offering high standards of safeguarding

Cons

  • Although MetaTrader 4 continues to shine for technical analysis, the subpar design dampens the trading experience, especially compared to modern alternatives like TradingView
  • While the range of currency pairs exceeds most alternatives, the selection of additional assets is narrow, and notably, there are no stocks
  • FXCC’s single platform offering is a major drawback compared to many alternatives, notably AvaTrade which provides 5 platforms to suit different trader preferences

#5 - Fusion Markets

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

  • 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 offers best-in-class support with very fast, friendly and helpful responses during tests and no frustrating automated chatbot to navigate.
  • Average execution speeds of around 37 milliseconds are noticeably faster than many rivals and can help day traders secure optimal prices in fast-moving markets.

Cons

  • The demo account expires after 30 days, limiting its potential as a useful trading tool alongside a real-money account.
  • While the selection of currency pairs trumps most rivals, the broker's alternative investment offering is average with no stock CFDs beyond the US.
  • Traders outside of Australia must sign up with weakly regulated global entities with limited safeguards and no negative balance protection.

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.

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Tip: Check that the broker is authorized using the relevant regulator’s directory. For example, you can search for registered companies in all of Canada’s provinces and territories using the Canadian Securities Administrators (CSA) national database. The CIRO website also lists regulated entities, alongside a full list of active enforcement proceedings.
The Canadian Securities Administrators (CSA) national register showing Forex.com authorization
Forex.com – CSA Registration
  • Interactive Brokers continues to lead as one of the most heavily regulated firms that accept Canadian day traders. The broker has a long 40+ year history and is licensed by the CIRO, among other Green Tier authorities.

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.

  • Forex.com is one of the lowest-cost brokers based on our extensive testing, with forex spreads as low as 2.2 pips on USD/CAD, plus zero commissions and no deposit or withdrawal fees.

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.

Forex.com webtrader showing Ickimoku Cloud indicator on USD/CAD
Forex.com – Webtrader
  • Forex.com maintains its position as a top day trading broker, thanks to the availability of feature-rich charting platforms, MT4 and TradingView, plus additional tools for varied requirements, including Trading Central and SMART Signals.

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.

Inforgraphic showing popular Canadian day trading markets
Day Trading Markets

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.

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Jemma Grist
Author
  • Forex.com is one of the fastest brokers, boasting average execution speeds of 20 milliseconds, with 99.83% of trades executed in under 1 second. Reliable conditions like this make it an ideal broker for short-term trading strategies like scalping.

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.

USD/CAD trading conditions at AvaTrade showing margin requirements
AvaTrade – Margin Requirements

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.

  • AvaTrade is a leading day trading platform offering transparent margin requirements. For example, the USD/CAD pair is offered with a 1.5% margin.

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.

  • AvaTrade is a great option for Canadians since it offers a CAD account with an accessible starting deposit of 300 CAD.

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:

  • We confirmed that the broker accepts Canadian day traders.
  • We checked whether the brokerage is regulated by a trusted authority, such as the CIRO.
  • We prioritized brokers with competitive day trading fees.
  • We favored brokers that deliver high-quality charting tools for short-term strategies.
  • We checked for a wide range of assets and prioritized those with access to Canadian markets.
  • We paid attention to the broker’s execution quality, including speeds and pricing.
  • We focused on brokers with transparent margin and leverage requirements.
  • We ensured all day trading platforms offer an accessible minimum deposit.

DayTrading.com broker testing methodology overview

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.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com