Skip to main content

The Best Forex Brokers in Canada

A forex brokers Canada may be a website that connects clients with forex trading service providers. a web broker applies to varied areas of business, like financial stocks, insurance or land .

In the case of a Forex broker, the trade between these two parties is said to foreign currencies. Indeed, the currency exchange activity is mentioned as Forex (Foreign Exchange Market) in English. Forex is therefore a worldwide market, it’s also the most important financial market that exists so far .

Forex brokers accepting Canadian clients

Forex Brokers Minimum Deposit Support Rating Visit Site
1
Fortrade Canada
C$ 300
Claim 30% Deposit Bonus
99.11%
GET STARTED
Best Forex Broker in Canada
2
Blackbull Markets Canada
C$ 200
98.11%
VISIT
Most Popular Forex Brokers in Canada
3
questrade Canada
$ 1000
99.11%
GET STARTED
Questrade is the Forex Broker in Canada
4
Avatrade Canada
C$ 400
Claim $30 Deposit Bonus
99.11%
GET STARTED
Top rated Broker in Canada
5
fx choice Canada
C$ 200
Claim 15% Deposit Bonus
98.11%
GET STARTED
Top Forex Broker in Canada

What is Forex Trading and Forex Brokers Canada?

Forex Brokers Canada

The Forex market is a highly exciting place and also a place where you can make a lot of free money for yourself. The Forex market is open for 24 hours of the day and 5 days of the week. This means that you can trade Forex at any time of the day or night during these 5 days. The five days from Monday to Friday. Forex stands for Foreign exchange. You can also call it X, Forex, or simply Forex. All these names mean the same thing. It is the largest of all the markets in the world today its size is measured by its daily turnover. As of the last check, the daily turnover of the Forex market was US$5 trillion. The combination of the turnovers from the bond market and the stock market does not even measure up to this.

The huge turnover in the Forex market is one of the more reasons it becomes attractive to so many investors. Anybody from any part of the world can also trade Forex. So long as you know about trading, you can go into it to make money. The Forex market offers so many advantages that you can rarely find in many other markets across the globe.

What is Forex and Forex Brokers Canada?

As we stated earlier, Forex is an acronym for Foreign Exchange. You can also call it currency trading or FX. The Forex market is decentralized. As a result of this, you can trade different types of currencies in Forex trading. It equally wins the award for the most liquid of all the markets in the world today. The liquidity of the Forex market means that there are so many buyers and sellers doing business in the Forex market. The pricing is also highly competitive. You can rarely find any other market that can be as liquid as the Forex market. The regulation is improving by the day. The management and monitoring of investment are also improving. These are some of the factors that make the Forex market to be more attractive than many other markets globally.

Why trade Forex with Forex Brokers Canada?

People trade Forex for so many reasons. The answers you can get to this question from different people will surely be diverse. Whatever the case may be, money is involved in most instances. One primary reason why many people trade Forex is that they want to make money. What are the features that make the Forex market highly attractive? You can check for answers below:

Forex market is always available (Forex Brokers Canada)

Except for weekends, the Forex market is always open for business. As we mentioned earlier, the market is open 5 days in a week and 24 hours of those 5 days. Currency trading is available all over the world. This is because those who need currency exchange services are all over the world. Some of these entities are:

  • Private individuals
  • Corporate organizations
  • Government agencies

The activities of these entities are the forces behind the high liquidity of the Forex market. The activities that take place in the Forex market go in the direction of the sun. The Forex market opens in Australia in the morning and will close in New York in the afternoon. There is no time during these periods that you will not be able to trade any currency pair.

Trade-in any direction from Forex Brokers Canada

The beautiful thing about Forex trading is that you can make money both when the Forex market is rising and falling. You can also make money from Forex trading irrespective of any condition that leads to a particular direction of movement.

Transaction cost is low

One other feature that makes Forex trading interesting is the low cost of transactions. Many of the Forex Brokers Canada charge very low commission. Some even charge no commission at all. You will equally not need to pay data license fees or exchange fee before you can trade Forex. In most instances, the retail transaction fee is usually not up to 0.1%. This is usually the case irrespective of the market condition. When you deal with larger dealers, this spread can even go as low as 0.05%. The leverage you adopt for trading also helps to reduce the transaction cost

100 percent Canadian Brokers

Viability of Leverage

The availability of leverage is yet another factor that makes the Forex market attractive to traders. Leverage helps the Forex trader to enter a market position with an amount that is larger than his trading balance. In the stock market, you can only get maximum leverage of 1:2. This is is not the case with the Forex market. In the Forex market, there are times that leverage can be as high as 1:500. However, the highest leverage provided by Forex Brokers in Canada differs one from another. This is one of the reasons why many people venture into Forex trading.

When you use high leverage, you can make a huge profit with small capital. This is because leverage makes it possible for you to trade higher volumes with your small capital. It is possible to make a lot of money from Forex trading by using leverage. Be that as it may, you must also understand the dangers involved. Leverage is a two-edged sword. It can help you to make a lot of profit and can also cause you losses. If the market goes in your favor, you can make a lot of money if you use high leverage. If the market goes against you, on the other hand, high leverage will lead to a huge loss. So, you must use leverage with care.

High liquidity

As we mentioned earlier, the Forex market is the most liquid in the world today. The market is very huge and its daily turnover is up to US$5 trillion. The high liquidity translates to the fact that you can trade any currency of your liking. There is no constraint at all. The Forex market is open 24/5 and this reduces time limitation. This fact adds a lot to the high liquidity in the Forex market. Both buyers and sellers in the Forex trading world accept different currency types and this is a factor at the root of its high liquidity. The high liquidity means that there is a huge chance of making a profit from Forex trading.

Accessibility

Forex trading is not expensive at all. This is one of the many reasons why it is accessible to a lot of people. Futures trading, options trading, or stock trading can require a lot of money to start. This is never the case with Forex trading. You can find online Forex Brokers Canada that offer different types of accounts that allow people with a small amount of money to trade Forex. Mini and micro accounts will not require a lot of money to start trading. With micro or mini trading account, you can start trading Forex with as little as $25. As a result of this, an average person can start trading Forex with very small capital.

Who trades Forex with Forex Brokers Canada

The Forex market is very big. It is the largest market in the world today. The number of participants in the Forex market is in the millions. Some of the participants in the Forex market are:

  • Hedge fund managers
  • Banks
  • Money exchangers

The activities of these individuals help to keep the Forex market moving forward

When is it possible to trade Forex?

The Forex market is open 24 hours of the day and 5 days of the week. However, this does not mean that the Forex market is perpetually active. We can divide the Forex market into 4 major trading sessions. These sessions are:

  • Sydney session: It opens from 6 PM EDT and closes at 3 PM EDT
  • Tokyo session: It opens 7 AM EDT and closes 4 PM EDT
  • London sessions: It opens 3 PM EDT and closes noon EDT
  • New York session: It opens at 8 AM EDT and closes at 5 PM EDT.

Bear in mind that the actual opening or closing time of the Forex market depends a great deal on the local business hours in Canada.

Market participants and Forex Brokers Canada

Toronto Forex Brokers

The major banks are the major participants in the Forex market. The interbank is composed of the medium or smaller banks. The participants in the Forex market can trade with one another. They can also trade electronically. The electronic trading can take place via Reuters Dealing 3000-Spot Matching or Electronic Brokering Services. The two electronic methods compete with each other. The FX rate is determined via the operation of big banks. Some of these big banks are:

  • Barclays Bank
  • BNP Paribas
  • Deutsche Bank
  • RBS
  • Citigroup
  • And so on

The banks above are the big players in the Forex market. These banks have the correct scenario of any particular currency. They also have the overall picture of the demand and supply in the Forex market.

The retail traders and speculators make the lowest cadre of traders. They are also the ones that pay the largest spread. This is because the execution of their trades occurs via two layers. These traders seek to make money from currency price fluctuations. Advancement in technology now makes it possible for these traders to trade Forex with very little money.

Currency pair and Forex Brokers Canada

Are you new to Forex trading? Then you may be confused about the issue of currency pairs. There are so many currency pairs in Forex trading. The common terminal is the MetaTrader 4 terminal. If you are a newbie in Forex trading, you may find yourself asking questions about the best currency pair to trade. The answer to this question is not straightforward. This is because different traders have different preferences. The terminal window and the OTC market also determine the currency pair available for trading.

Before you choose any particular currency pair to trade, the trader needs to carry out adequate research. Some Forex trading strategies work better with some currency pairs than others. Forex trading occurs between two currencies. When you buy a currency pair, it means you are buying one part of the pair and selling the other. The currency pair is made up of the base and quote currencies. In EUR/USD, for example, the EUR is the base currency and the USD is the quote currency. When you buy the EUR/USD, it means you are buying the euro and selling the USD. If you sell the EUR/USD, on the other hand, it means you are selling the Euro and buying the USD.

The common currency pairs

There are so many currency pairs available in the Forex market. The currency pairs you can access depend on what your broker offers. This is to say that different Forex Brokers Canada offer different numbers of currency pairs. The US dollar is the most commonly traded currency in the world today. The reason for this is the huge economy of the United States. The economy of the United States is the largest in the world. The US dollars is the base currency preferred by many in the Forex market. . It is also used for all manners of exchange transactions all over the world.

Check below for the most common currency pairs in the Forex market. The number of trades carried out using the currency pairs below is more than what you can find in other currency pairs. The currency pairs have the highest level of liquidity also.

They are:

  • EUR/USD
  • GBP/USD
  • USD/JPY
  • USD/CHF
  • EUR/JPY
  • USD/CAD
  • AUD/USD

There is a regular change in the values of the currency pairs and this creates opportunities to make a profit. The currencies above are currencies from those countries that are financially powerful across the globe. The high trading volumes of each of the currencies make them highly volatile and also help to reduce the spread. Spread reduction increases profit margin also. Currency trading happens all over the world. The number of traders that are trading a particular currency pair at a particular time can determine the behavior of the currency pair.

Pip spread

Some also call it just spread. It is the difference between the bid and ask prices. The bid refers to the price or rate at which the trader can sell the asset or a currency pair. The ask price, on the other hand, represents the rate at which the trader buys that asset. You will see two prices against each currency pair and the two of them represent the bid and ask process. The bid price is the price that the broker wants to pay to buy the base currency. This is against the counter currency. The reverse is the case with the ask price.

Bullish and bearish markets

A bull market is one that is appreciating. A bear price, on the other hand, is one that is depreciating. The price of an asset is rising in a bull market, while its price is falling in a bear market. Bear in mind that you do not determine the trend of a market by using the data of just one day. You need to check the data for some weeks of months to help you determine if the market is bearish or bullish.

Happenings in a bullish market

In a bullish market, the investors have confidence that the value of the asset will appreciate or rise. This is usually the case if the economy of a particular country or currency is doing very well. A bullish market can occur in any of the instances below:

  • The unemployment rate is low
  • The GDP of the country is high
  • There is a rise in stock market shares.

There is a strong relationship between a bullish market and the stock market. This can also be applied to virtually all other markets aside from the stock market. Everything in a particular country will be looking great in a bullish market. This will result in a rise in the stock market and even the Forex market. When the economy of a county is bullish, its currency will be performing very well. In such a situation, investors will not look to save havens like before. Examples of safe-haven currencies are:

  • US Dollar
  • Japanese yen
  • Swiss franc

Why is the bullish market important?

Forex trading occurs in pairs. The pairs contain the base and quote currencies. When you trade Forex, it means you are buying and selling the base and quote currencies at the same time. When you buy a currency pair, it means you are buying the base currency band selling the quote currency. The reverse is the case when you sell that currency pair. When the base currency is strong, the quote currency is weak and vice versa. This makes it possible for the trader to make money both when the price of an asset is rising or falling.

In the Forex market, both the bear and the bull trends can tell the one that is stronger between two currencies. The trader needs to first understand the trend before making a trade. A proper understanding of the trend will help the trader to make the right choice when trading. It will also help the trader to manage his risks better. He will be able to make up his mind about when it is the best time to enter or exit a trade.

Happenings in a bearish market

A bearish market indicates that the trend is negative. This means the trend is falling and it can be called a downward trend. In this situation, investors are selling off those assets that they consider to be riskier. Examples of such assets are less-liquid currencies and stock. There is a great chance that the trader will record losses. This is because the price of the asset is losing value. The investors and traders decide that they are better off moving to another investment and selling off the poor-performing assets. Good examples of safer investments in this situation are fixed—income securities and gold. Some of the safe-haven currencies that many investors consider in the Forex market are the USD and JPY, which stand for United States Dollars and Japanese Yen respectively.

How important Bearish Markets and Forex trading?

A trader can make a lot of profit in both bullish and bearish markets. The trader is trading with the trend in both cases. As we mentioned earlier, Forex trading occurs in pairs. Be that as it may, the trader should focus on buying the strong and selling the weak currency.

Lot size

What is lot size in Forex trading? It can be defined as a unit for measuring the amount of any particular deal. The value of a trade is similar to the integer number of lots. An integer number of lots equals to lot size multiplied by the number of lots. A trader needs to choose the lot size he uses carefully. This is one of the ways via which you can become a successful Forex trader. The position size refers to the number of lots the trader takes on any given trade. There are three different types of lots in Forex trading:

  • Nano lot
  • Micro lot
  • Mini lot
  • Standard lot

Nano lot is the 1000th unit of a lot. The micro lot is the 100th of a lot. A mini lot is the 10th of a lot, while a standard lot is 1 or 100,000 units of the base currency. The particular lot size you choose will determine how much profit you can make per trade.

Long trade in the Forex trading market

When you go long in the Forex market, it means that you are buying an asset. Since we are talking about currency trading, a long trade means that you are buying the base currency in that currency pair. This also means that you are selling the quote currency in the pair. So, you are buying and selling at the same time when you place a trade in the Forex market. If you buy EUR/USD for example, it means you are going long on EUR/USD. This also means that you are buying the euro and selling the United States Dollars.

The short trade in the Forex market

A sell trade is called a short trade in Forex trading. When you go short, it means you are selling the asset in question. If you are selling a currency pair, it means that you are selling the base currency and buying the quote currency. When trading Forex, the trader is always going long on one currency and going short on the other.

Best Canadian Forex Brokers

Pending order in Forex trading

Pending order means that you are suspending a particular trade until the asset reaches a particular price level. The order is not executed yet in a pending order. The execution will only happen when the asset reaches a particular price level. To place such an order, you will have to place it with limits. When you use a limit in placing an order, you are telling the broker to wait until a particular price point before executing the trade.

Many Forex traders use technical analysis for trading Forex. If you want to trade an asset from a particular level but the asset has not reached that level, a pending order is a right thing to go for. The alternative to placing a pending order is waiting for the price to reach that level before you enter into the trade. This is time-consuming. If you are unable to wait for this to happen, simply place a pending order. The trade will automatically activate when the price reaches that level even if you are not there.

Types of pending orders in Forex trading

Pending orders are of four types. Check below for the four of them

  • Buy limit: This is a type of pending order you place when you want to buy a currency at a price lowest than its current price.
  • Buy Stop: This is a pending order you place to buy a currency. You can use it if you want to buy a currency at a higher price than the current one.
  • Sell limit: It is a pending order to sell a currency. You can use it if you want to sell the currency at a higher price than the current one.
  • Sell stop: It is a pending order to sell a currency pair. You can use it when you want to sell the currency pair at a price lower than the current one.

Leverage and margin

Two other important things you need to know as a Forex trading beginners are leverage and margin. You will learn about the two of them in this section.

What is the leverage in Forex trading for beginners?

Leverage allows a Forex trader to open a trade bigger than what his trading account can bear. A trader that has just $100 in his trading account can control a position as big as $1000. This is possible if the trader uses leverage. Leverage allows the trader to control a huge amount of money. He can do this with a very little amount of money in his trading account. Virtually all markets offer leverages. Be that as it may, none of them offers leverages as big as what obtains in the Forex market.

The broker is to provide the money according to the leverage chosen by the trader. Bear in mind that the leverage is more like borrowed money from the broker. If you want to use a leverage of 100:1, for example, it means that you can control 100 times the amount you have in your trading account. If you have $100 in your trading account, leverage of 100:1 will enable you to control up to $10,000. This means you are controlling $10,000 using just $100. The amount you can control will increase as the leverage increase.

Leverage enables the trader to make a huge amount of money in profit. If the trade goes in your favor, then it means, you will be able to make a lot of money. The reverse is the case if the trade goes against your preferred direction, however. You need to bear in mind that leverage is a two-edged sword. It can help you make money and it can also cause you a huge loss. So, you must use it carefully. This is why you must have a good risk management plan in place when you use leverage.

What is an margin in Forex trading?

Margin can also be called a “good faith deposit”. It is the minimum amount you must have in your trading account before you can open a trade. If you have $100 in your trading account and you want to use a leverage of 100:1, then the $100 is called the “good faith deposit” or the margin.

Forex trading Hedging

Hedging is a popular Forex trading strategy used by many Forex traders in Canada today. The strategy looks to reduce the risks in trading an asset in case the price movement goes against the trader. Some like to call the hedging strategy an “insurance policy”. It helps to protect the trader from risks. The trader opens an offsetting trading position in a related security. Those who use the strategy are those who are not sure about the particular direction that the market will head. Hedging will help to reduce the risk to almost nothing. The only thing the trader will lose is the money he pays to the broker as a fee. You can use hedging in any of the two ways below:

  • To open trade in an offsetting instrument
  • To buy or sell derivative

Stop loss in Forex trading Canada

This is an order you place to reduce risk. When you place a stop loss in Forex trading, you are telling the broker to close your trade when the price hits that losing position. The purpose is to help mitigate your loss in that asset. Experts suggest that the Forex trader should always use a stop loss on every trade. A take profit is the direct opposite of a stop loss. When you use both the take profit and stop loss, you can set the trade and go away. There is an assurance that your capital will be protected in case the trade fails to go in your desired direction.

With this in mind it’s worth considering whether you want to choose a Canadian Forex broker based in your country (or in your state), or whether you want to expand your horizons and consider a broker that serves Canadian Forex traders while being based elsewhere.

The classification of the Canadian dollar (CAD) as one of the world’s major currencies has made Canadian Forex trading both accessible and understandable to traders at all skill levels and in all geographic locations. Still, it’s not enough to merely understand the market – it’s just as critical to have a Forex broker that offers the best trading conditions for Forex trading in Canadian dollars (and all currency pairs). Start by determining which pairs you’ll be trading. USD/CAD, also known as the “Loonie” is Canada’s most popular Forex pair, but our traders also watch others including CAD/JPY, CAD/CHF, EUR/CAD and AUD/CAD. Start by checking each broker to make sure it offers the pairs you want. Next, check the spreads of each of the top Canadian Forex Brokers Canada to compare their offerings and determine where you’ll pay the least commission.

A Forex broker may be a virtual platform that acts as an intermediary, selling one or more currencies against a remuneration commission. The arrival on the web of this type of web sites has allowed a true democratization of FX trading.

Indeed, foreign currencies were originally traded by powerful players like prestigious clients, import and export companies, banks or multinational firms. Today, this foreign currency trading is accessible to all or any individuals through FX broker sites.

How to choose an honest Forex broker?

There are variety of things that you simply should search for when choosing a forex broker. Below we highlight what makes an honest forex broker.

Forex Brokers Canada Regulations

One of the foremost important steps before investing your money is to form sure that a Forex broker is legal.

As the financial markets have grown significantly in recent years, Forex platforms have appeared in droves. stepping into foreign currency trading involves making (sometimes large) movements of cash on the online . it’s therefore essential to settle on from among the masses a site that’s accredited by a regulatory body and where the info passing through it’s protected.

Since the Forex market is decentralized, it are often far more susceptible to scams and fraudulent sites than other actions. it’s therefore essential to choose a legal forex broker which is regulated by a minimum of one financial authority. this may make sure that the broker is legitimate which your funds are in good hands. the foremost common regulations given to forex brokers Canada include CySEC, FCA, and ASIC.

The Financiers ensures that the brokerage company, French or foreign, provides its investors with access to a sufficient amount of data so as to be ready to make informed decisions.

Forex Brokers Canada Security

The security criterion is an unconditional applicable not only to Forex transactions, but also to any activity administered on the web . All trading platforms, without exception, require encryption of knowledge passing through the domain. The encryption of transactions meets the Secure Socket Layer (SSL) convention . To verify that the location is functioning consistent with SSL criteria, the URL must start with https: // and be preceded by a padlock icon.

The encryption of your data starts from the instant you log into your customer area, once you enter your personal password. From this moment, the knowledge is protected by SSL. Note that the encoding level is measured in bits, the minimum being 56 bits, the foremost reliable security level being 128 bits.

Forex Brokers Canada Trading platforms

It is crucial to settle on a forex broker with an intuitive platform that provides you access to all or any the trading tools you’ll got to place your trades.

Choose a user-friendly platform like eToro if you’re a beginner, or Avatrade if you’ve got more experience. Avatrade provides access to MT4 and MT5 forex platforms, ideal for advanced traders.

Easy payment methods and transactions when Forex trading in Canada

When choosing a forex platform, you want to take under consideration the means of payment offered by the broker. Here, several conditions are essential, the primary being access to legal and secure payment solutions so as to form your deposits and withdrawals of funds confidently .

In addition, confirm that transactions are administered easily and quickly. Below we’ve listed the foremost common payment methods on Forex trading sites:

  • Debit / credit cards: Visa, MasterCard or Maestro, for instance .
  • Electronic wallets (e-wallet): PayPal, Skrill, Neteller.
  • Bank transfers.
  • Note: Bank transfers are only offered by a couple of brokers. The fastest solution being electronic wallets, with immediate deposits and withdrawals within 24 hours.

You should also confirm that you simply are on the lookout for deposit or withdrawal fees. eToro, for instance , doesn’t charge a deposit fee, but withdrawals are subject to a  $ 5 fee.

Commissions and spreads in Forex trading

Each time you enter a trade, you’ll got to pay either the spread or a commission. confirm you select a broker with affordable spreads, in order that you’ll get the foremost out of your profits.

Also be bound to check out the spreads on the currency pairs you would like to trade. Typically, spreads start at 0.5 pips on major currency pairs like EURUSD.

Forex trading and Client service

The support offered to members of a forex platform is extremely important. this is often proof of the broker’s legitimacy.

How to judge customer service from a stock broker?

First of all, the platform must have knowledgeable English-speaking team, available through various means of contact (email, telephone, live chat, even Whatsapp or Skype)

Software and interface

The intuitiveness of the interface is an important criterion, especially for beginner traders. you want to be ready to perform your actions quickly and hassle-free, while having access to all or any information in real time.

Make sure the location offers marketing research curves, the power to ascertain live odds and costs .

Mobile trading

Being able to trade anywhere, anytime, this is often the simplest Forex brokers Canada 2020. There are two solutions for trading in portable version:

  • From an online browser via a transportable device.
  • Through a mobile application.
  • The broker of your choice should ideally be available on devices running Android, iOS and Windows. so as to make sure that the standard of navigation won’t be reduced on mobile, please make sure the platform’s website is running under HTML5 coding.

The reputation of the Forex broker

This element could also be obvious to some, or maybe pass the wayside when trying to find the simplest Forex Brokers Canada, yet it’s a key criterion. Indeed, the reputation of the Forex brokers Canada doesn’t lie on these services. study these strengths, read broker reviews, consult guides to seek out the simplest trading site, like ours, to urge professional reviews.

Forex Brokers Currency diversity

How to profit if the broker offers only a couple of foreign currencies? Your trading site must absolutely offer a good selection of:

Major currency pairs for Forex trading.

The major currency pairs constitute the most international currencies, that’s to mention the foremost developed at the international level. This category includes European, Japanese, Canadian and Australian currencies. a serious pair is effective when one among these currencies trades against a US dollar.

The pair of minor currencies , conversely, represent an exchange of secondary currency (outlined above) against another currency isn’t the US dollar. for instance , a JPY / CHF exchange may be a minor currency pair.

Leverage Forex Brokers Canada

If you’re looking to try to to leveraged forex trading, you’ll need a broker that gives the leverage that you simply are trying to find . Usually the utmost leverage on European Forex Brokers Canada is 1:30, but some platforms may offer more if you’ve got knowledgeable account.

Conclusion: the simplest FX broker for 2020

Our advice: don’t rush once you want to open a forex account . Take some time ! Compare brokerage firms! Open demo accounts! You can also come and ask your questions on this or that broker in our forum dedicated to forex . you’ll even be ready to see reviews posted by people that have already got a forex account or demo account.

What is the best forex trading platform?

It depends on your trader profile. There are many who appreciate the MT4 platform, but this one is particularly austere for beginners. As we haven’t seen in this guide, on the other hand, Avatrade offers an intuitive and easy-to-learn trading platform, while also offering the features that experienced investors need.

Why should you choose a regulated forex brokers?

Choosing a regulated broker assures you that they are legally bound to follow rules regarding business practices and financial management. It is therefore essential to choose a regulated broker, to ensure that it is reliable and will remain so.

What is the minimum amount to deposit to open a forex broker account?

The amount needed to deposit to open an account varies depending on the broker, but is generally quite low. At Avatradefor example, this amount is 200 dollars. However, even if this amount is enough to start and practice, you will have to consider a deposit of around 1000 dollars to start hoping for interesting gains.

Does a forex broker provide training and advisory services?

It is not strictly speaking the job of the broker, but most online brokers do offer training content and analysis to help their clients navigate the forex. Avatrade goes even further, offering its clients to copy the positions of the best traders, for trading without unnecessary complications.

What are the costs of a Forex Brokers Canada?

Most brokers, including Avatrade, do not charge any commission. The broker’s remuneration comes from the spread, the difference between the buying price and the selling price of a currency pair at an instant T. The spread applied to your favorite currency pairs is therefore a key element in the choice of an online broker.

Can we trade anything other than currencies with a Forex Brokers Canada?

These days it is rare for an online broker to limit himself to forex. Most forex brokers Canada also offer trading in indices, commodities and even stocks. Some, including Avatrade, even offer you to buy cryptocurrency.

Are there any risks associated with forex trading?

Forex trading can be deemed a risky activity if one uses a high leverage. However, with appropriate risk management, the currency market is ultimately no more risky than any other, especially if you take the time to train.

Can we trade forex in the evening?

This is indeed one of the most interesting features of forex: The possibility of trading continuously, 24 hours a day and 5 days a week. The trading platform of your online broker will therefore be active at night, which allows you to practice forex trading in his spare time, while waiting to be able to make a full time job!