Best Forex Brokers in Canada 2022 🔥 TOP 3 🔥 - YouTube

hello and welcome to my video on the top  three forex brokers for uh canadians and  

in this video i'll be taking a look at these  three brokers not in any particular order it  

should be noted that i am not ranking them one  two and three just giving you three of the best  

the first one of course is forex.com as you can  see it is an american broker but they obviously  

have uh offerings for canada as well highly  regulated in the united states and canada  

well-known one of the pioneers really of the  online trading revolution for retail traders  

so um that in and of itself helps you can contact  them now quite easily they have a live chat  

phone number for 24 5 if the markets  are open the again the regulation is  

u.s canada you know really throughout the  world uh one of the better uh regulated uh  

markets out there the platforms that are available  with metatrader4 um you know they have their

platform that they offer um it's a strong and it's  a nice platform really web trading don't know that  

any one of them is really any better than the  rest this is a platform that they built for  

uh in-house for quite some time it has a long  history of usage so it's certainly stable  

which is probably the biggest concerns that  you would have with all of that so when you  

go to the markets you can see that they offer  forex indices stocks commodities so let's go to 4x

you can see typical spreads they are  floating spreads but it can be as low for  

example the aussie can be as low as eight  tenths of a pip typical is one and a half  

there's a little over 80 currency pairs  

so i can spread that out and you can see there  are some rather exotic ones chinese remember

the ruble thai bot and then of course  you have metals priced in japanese yen

gold markets in aussie swiss euro pound  yen dollar um pound mexican uh peso  

euro hungarian foreign so quite  a bit of flexibility as far as  

what you can trade but you know you can  trade indices as well all the truly big ones

and then you can trade uh cfds  on stocks amazon tesla app  

barclays you know some of the bigger  ones here uh spread varies depending on  

the product of course so for like apple  it's as low as 90 cents low commissions um

so

you can also um so you can go to the support here  

you can look at the comparison of all  the platforms you can get the faqs

now how do i fund my account uh you can go into  my account and you can do credit card or wire  

transfer you can fund with a personal  business checks or you cannot excuse me

you are not allowed to do um third parties  so and and that's pretty straightforward and  

pretty common as well you  have a couple of different

opportunities here to open up a an account um  you can open up a standard account which is  

spread pricing uh this is high volume fx  trading direct marcus uh account so then  

you start to talk about commissions um you  know they recommend a a minimum of 25 000 as  

uh doubter as a opening balance so obviously  that's not going to be for everybody

but you know nonetheless it is what it is  when you look at some of the popular markets  

so let's just take a look at the euro you can  see that it'll show what's going on there um  

it shows the latest research it's pretty  straightforward it is um you know lists the  

pivot points and stuff like that so there's a lot  of information to be found here on the site itself  

so we can go to take a look at the margins and  you can see it does depend on the currency pair  

you know obviously you know like made it margins  less than to open up and you know depending on  

the pair if it's you know like here the aussie  polish lotta you're gonna need 13 margin um  

but then you start to talk about aussie cat is  three percent um you know the more common ones  

are going to be a lot less you can also base  your account in us dollars if you choose to

pretty straightforward um you know it's just  got a huge list you have to kind of go through  

as far as education is concerned they do  have various courses they are pretty decent  

um you know technical analysis it gives you an  idea of how to do some basic technical analysis  

again you know i've said um in multiple videos  that i've done you should not be looking for  

uh your broker as the be all  end-all of education but as  

brokers go these are you know forex.com is pretty  good uh when it comes to education so interactive  

brokers is interesting because it can handle  anything from a retail trader to a hedge fund so

that makes it a little bit of its own  animal so you can do stocks options  

futures currencies bonds and funds  from a single integrated account um so  

you could be talking about you know do you want  to you know what do you want to trade okay well um  

you know first thing is uh platforms so you go to  the platinum forums trader workstation is their  

um um proprietary platform it's uh pretty well  known uh you can do a lot of coding make your  

own indicators there's a whole subsect of traders  out there that do that so that's what you would  

be using um 99 of the time they do have the  mobile and the client portal they have apis  

um that you can use to do your own  stuff if you're really that into it um  

you know margin rates so let's take a look  at that and it's really going to depend on  

what you're doing but you can do interest rate  loans to borrow more and again this is going to  

be one of those situations where it really  depends on the markets you're trading they  

are extraordinarily heavily regulated uh they  have to be because quite frankly if interactive  

brokers were to go under it could probably cause  ripples throughout the global marketplace um in  

multiple markets not just forex or not just the  stock market i mean we're talking major problems  

so they are without a doubt uh one of the most  well capitalized firms 135 markets um like i said  

you can do uh just massive uh america's these  are all the stock exchanges um canada mexico  

etf canada mexico blah blah blah and that's just  the americas i mean you know you can go to europe  

just at a an amazing amount of futures and stock  exchanges so um when you look to their website  

they will uh consider forex kind of its  own thing it's like a global market um  

so if you click on currency trading you know  you can see real time currency quotes pop up um  

they don't mark up it's all um commission based  these are the currencies that you can trade  

you can trade them back and forth against each  other so it does offer quite a bit of um variety  

now the thing about interactive brokers is  they're not a high levered uh type of situation  

you do not uh come in here expecting to get  500 to one of leverage that's not how it works  

in the um real world you know it's not the retail  brokerage firms and interbank uh markets which  

is what this is going to be more like totally  different worlds you do not lever up like that  

um leverage typically is 20 uh or one  to 20 it just depends on what you're  

trading they will bring up and down the margin  requirements depending on the volatility so  

this is a much different scenario minimum trade is  25 000 this first 25 000 units so like a quarter  

lot anything less than that you're gonna have all  kinds of problems they do offer 20 order types um  

like limit if touch one cancels all scaling in  that type of thing so it's really um really good  

for a lot of flexibility you quite often can find  charting packages that go on top of fx trader or  

you know trader workstation there's a ton of them  out there well beyond the purview of this video  

education they do have what they call the  interactive brokers campus traders academy um

it's actually pretty it it's pretty good they  got webinars and such um traders inside market  

commentary from 70 industry person professionals i  mean this is more along the lines of professional

kind of analysis so you're going to have to  keep that in mind this is a completely different  

uh field than a retail brokerage it is  a retail brokerage but it also handles  

the institutional side as well  they are funded by check or bank  

transfer that's the only way they do it um so  that of course is something to keep in mind  

hinyapp markets hycm they have been around since  77 as you can see they offer 40 plus 4x pairs  

maximum leverage one to 500 now this is obviously  a lot different than what you saw over interactive  

brokers but then again you don't have the  ability to change uh to you know trade forex and  

the budapest exchange so it kind of really  comes down to what you're looking for  

uh so the thing about uh hinyam is their  spreads as you can see are a little higher  

you can do classic you can do fixed you can  do raw uh now raw is 0.6 like in the aussie  

plus four dollar per round um so they give you  the ability to trade a lot of different markets  

um but really at this point you are more or  less looking at a scenario um where you this  

has good leverage you know one to uh 133 120 and  etfs but the spreads really are a bit of a killer  

um compared to other ones strong brokerage lots  of offerings but if you are a short-term trader  

that could be a bit of an option or a an  obstacle that you need to pay attention to  

they do have a lot of online classroom seminar  live events they are pretty strong about that they  

are regulated in canada the uk and a handful  of other countries deposits and withdrawals

there you can see bank wire visa  web money neteller skrill there are  

minimums for each one 20 for everything  but the bank wire so it's really not an  

issue but it is something that you  need to pay attention to um again  

this is if you're more of a swing trader this  one's going to be fine for you if you're going  

to be more short-term it's probably all about  forex.com if you're in canada if you want the  

world and especially if you have a larger account  then it's going to be about interactive brokers