Forex, or foreign exchange, trading is the act of buying and selling currencies on the foreign exchange market. As the largest and most liquid financial market in the world, it offers traders many opportunities to invest, trade, and make money. However, trading forex can also be risky, as traders are exposed to a high degree of leverage and market volatility. To mitigate these risks, traders must choose a trusted broker that is regulated by a reputable body, has robust risk management tools, and offers competitive spreads and fees.

IG is our Best Forex Trading Platforms Canada because it combines the highest standards of trust and security with an industry-leading mix of products and services. The broker’s well-designed platforms, educational materials, and research tools make it an ideal choice for both beginner and advanced traders alike. Moreover, its low minimum deposit requirements, generous practice (demo) account, and community-based forums allow it to compete with full-service brokers for all types of investors.

Best Forex Trading Platforms in Canada: Pros & Cons

Saxo is a renowned global broker that focuses on providing an extensive range of financial assets to traders. Its robust offering includes a large number of CFDs, stocks, bonds, ETFs, and cryptocurrencies alongside a range of popular stock markets. Traders can access these markets via the broker’s proprietary IQ Web and IQ Edge platforms, which are complemented by an array of research and charting tools.

Traders can also use its Trader Workstation and IBKR Mobile platforms, which provide a highly customizable trading environment with advanced charting and Level II pricing for Direct Market Access. Despite these impressive features, Saxo’s complex fee structures may be off-putting to newer traders.