Category: Forex Trading

These improvements further enhance Bitbuy’s position as a reliable, feature-rich cryptocurrency exchange for Canadian users. A Centralized Exchange, also known as CEX, are crypto exchange platforms that act as a brokerage service between the trader and the coins. These platforms are typically regulated and provide services similar to standard stock trading platforms.

• Although continually updated, the information here may differ from what appears on the providers’ sites.
• In terms of trading fees, CEX.IO uses a maker-and-taker model to determine the appropriate fee to charge users on the exchange.
• Crypto.com  provides a very good selection of cryptocurrencies, with more than 250 available.
• However, it can often be riskier compared to other types of platforms, plus more expensive.

I use NDAX for cashing out crypto to my Canadian bank account because of their low fees and excellent, fast service. These alternatives may appeal to traders who seek more advanced features, access to spot markets, or a more visually oriented trading interface. Below is a rundown of top crypto trading platforms in Canada that you can use to execute your day trading cryptocurrency strategy. VirgoCX is one of the top cryptocurrency trading platforms in Ontario.

Top 3 Canadian Crypto Exchanges Fees

This spread, which is the difference between the buying and selling prices, can significantly impact the cost of transactions, making trading fees on the higher side. It is a public company, fully regulated in the US, ensuring transparency with its shareholders. Being registered as a Money Services Business with FinCEN adds to its credibility. Moreover, Coinbase ensures the safety of assets by holding 98% of bitcoin and other cryptocurrencies in cold storage, with wallets and private keys securely encrypted. However, Coinbase has historically struggled with customer support.

Bitbuy

OTC services are available to Canadians through a number of exchanges and OTC brokers. In this article we’ve outlined some of the best OTC crypto brokers in Canada. You should be careful about which exchanges you use in Ontario as some are not authorized to provide trading services in the province or Canada, and you could lose your crypto assets or funds.

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• Plus you’ll earn 3.83% APY3 on your investment with an interest-like incentive coupon.
• The payment methods available include wire transfers, cash at a local Canada Post, or SWIFT for internationals.
• They offer competitive prices, especially for those who trade in large volumes.
• If you are a newcomer to crypto, you will want a user-friendly interface that is simple to use, while more experienced traders usually prefer a platform that offers more advanced tools and features.

It’s perfect for people who only want to buy Bitcoin because that’s all they offer. Compare to Bitbuy, it offers over 800+ cryptocurrency coins, so it’s the perfect choice for people who like to invest in altcoins. Security is a significant focus for Bitbuy and this why they rated as a #1 crypto exchange in Canada on our list. It was voted as the most important factor for Canadian users when selecting crypto exchange. Binance has the most versatile crypto app with features that allow you to buy crypto, join pools, stake for interest, and trade derivatives.

With the latest updates, NDAX now supports USD deposits, broadening its accessibility to include both Canadian and U.S. dollars. While it has discontinued accepting bank drafts, it has introduced more versatile withdrawal options, including Interac withdrawals for just $1.50. This improvement ensures that fiat withdrawals are not confined to the previous $4.99 Bank EFT fee.

How much money do you need to buy crypto?

Kraken also offers crypto staking of 12+ crypto assets and the Kraken Pro mobile app with advanced trading tools to trade on the go. Wealthsimple is the made in Canada self-directed trading platform that has branched out into banking and, since 2020, crypto. It’s here because it’s perfect for the day-trading stock investor who wants to try crypto for the first time and it caters to Canadians exclusively. There are no account or trading minimums; your cryptocurrency is held by a third-party custodian and is insured against theft.

Exchanging crypto for goods and services, therefore, is considered a gain or loss and is taxed accordingly. Earlier, we covered how platforms that intend to service Canadians must register with the regulators of Canadian provinces and territories. It is best to ask yourself what your goals with crypto are, and then you can figure out what type of services you require. To view all the data in the table, slide the columns right or left using your fingers or mouse. You can filter or rearrange the rankings by using the search tool or clicking on column headings. You can also download the data to your device in Excel, CSV, and PDF formats.

List of Top Crypto Trading Platforms in Canada

Others include VirgoCX, Crypto.com, Wealthsimple Crypto, Kraken, Coinbase, etc. The aforementioned exchanges were chosen based on a number of different factors. These include their dominance in Canadian markets and popularity amongst users, alongside their supported payment methods, fees, and supported cryptocurrencies. These factors comprise the trading platforms’ abilities to support Canadian users. For any Canadian crypto investor, a large coin selection is impressive, but it’s not necessary if you plan to trade just the most established cryptocurrencies, such as bitcoin and ethereum. Here are some important parameters to consider when comparing different crypto exchanges, platforms or apps.

It offers free fiat deposits, and crypto trading fees range from 0.00% to 2%. Canada is a mature crypto market with a strong licensing and regulatory framework in place. To help you trade with the best brokers, we reviewed hundreds of brokers and compared them in areas like regulation, available cryptocurrency broker canada crypto assets, customer support, and trading platforms. However, the benefit of incorporating trading fees within the spread (including certain crypto withdrawal network fees) is that it keeps it simple for users.

Invest globally in stocks, options, futures, currencies and bonds from a single unified platform. Fund your account in multiple currencies and trade assets denominated in multiple currencies. There is little to no regulation of this trading field, and cryptocurrency is not backed by the government. It doesn’t go through a bank, nor will the SEC reimburse you if you lose all your money. Crypto-related cybercrime ranges from mishandling private information to hackers raiding and depleting users’ cryptocurrency accounts.

Client funds are ring-fenced from the broker’s operational capital and kept in segregated accounts at tier-one banks like Barclays, Lloyd’s, Citibank, and RBS. Customers with professional accounts can additionally participate in the broker’s cashback program and earn referral bonuses for every new client they introduce to ActivTrades. The broker does not exclude them from negative balance protection and investor compensation, a rarity in the industry. Customers can apply for pro accounts by downloading and filling out the PDF application form on the website. Below, we outline the criteria for upgrading to a professional account below.

He has been successfully trading Forex since 2014 and has been actively involved in the cryptocurrency market since 2017. The broker’s clients highly appreciate the qualifications of the support service staff. The team of professionals is ready to provide quality assistance and promptly solve clients’ questions. In their feedback, users also emphasize the staff’s friendliness and sociability, which contributes to effective and pleasant interaction.

Trading Instruments

It supports trading platforms like MetaTrader 4 and MetaTrader 5, which are compatible with various automated trading systems and Expert Advisors (EAs). It should be noted that the availability of certain analytical services may depend on the type of your trading account and region of residence. To clarify your account’s available analytical tools and services, check the official ActivTrades website or contact customer support. The table below shows the maximum leverage values for each asset category.

It is important to remember that the analytics provided by the broker are an additional tool for traders and do not guarantee success in trading. Using the provided analytical materials and tools in conjunction with your market analysis and trading strategies is strongly recommended. The Islamic Account is designed for traders who adhere to Islamic banking and finance principles.

Mobile trading

This makes it possible for clients to implement third-party EAs for automated trading, which is not entirely dissimilar activtrades review to how copy trading works. ActivTrader is the browser-based proprietary platform of the broker that requires no additional software downloads on desktop. The absence of a strategy tester is among the very few shortcomings of ActivTrader.

Table of Contents

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. As previously explained, ActivTrades is the sole execution venue for customer trades, acting as a counterparty and dealing on its own account. The broker sources and compares prices across multiple liquidity providers to deliver the best quotes possible to customers. The company’s order execution statement additionally reveals that ActivTrades relies on its liquidity providers for hedging as a means of reducing its risk exposure. The broker provides its contract specifications in standard lots, but traders on a budget can place orders in micro lots as well.

An experienced media professional, John has a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry.

Servicio de Atención al Cliente galardonado

ActivTrades’ customer support scores well in the diversity of communication channels, responsiveness, professionalism, and efficiency of solutions. ActivTrades offers a variety of methods for account funding and withdrawal, most of which are commission-free. After completing all the registration and identity verification stages, your account will be activated, and you can start trading with the broker ActivTrades. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com.

• For example, customers onboarding through the FCA-regulated entity have no access to cryptocurrency CFDs.
• All websites and web-based platforms are tested using the latest version of the Google Chrome browser.
• Technical analysis can pinpoint areas of support and resistance, along with price patterns and trends.
• The selection of cryptocurrencies is modest, covering a dozen or so of the most popular digital coins.

Company Information

Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets. He is the Global Director of Online Broker Research for Reink Media Group, leading research efforts for ForexBrokers.com since 2016. Steven is an expert writer and researcher who has published over 1,000 articles covering the foreign exchange markets and cryptocurrency industries. He has served as a registered commodity futures representative for domestic and internationally-regulated brokerages. Steven holds a Series III license in the US as a Commodity Trading Advisor (CTA).

There are many reasons why ActivTrades is the best forex broker for beginners. First and foremost, it’s well-regulated around the world, including the UK, Italy, Brazil, Bulgaria and Mauritius. It’s also hugely respected in the forex trading industry, having landed multiple awards for its services in recent years. The best way to build your forex trading strategies is to test them using a demo account first. Treat your virtual money balance as if it was real money and make sure your strategies have the right risk-reward balance and a sufficient strike rate to grow your trading capital.

• Though the broker’s Trust Score of 81 (Trusted) is respectable, it holds fewer regulatory licenses than the most trusted brokers in our database.
• ActivTrades offers various trading markets and instruments to meet different traders’ needs.
• Weekly market outlooks from ActivTrader’s research team, focusing on timely topics.
• If you want to compare ActivTrades with other forex brokers in more detail, go to the Forex Brokers Comparison page.
• In late 2024, Matteo Paganini landed the role of chief executive officer of the company’s Mauritius-regulated division.

Deposit Methods

ActivTrades delivers plenty of options for portfolio diversification, with over 1,000 CFDs across popular asset classes like foreign exchange, stocks, commodities, indices, and cryptocurrencies. For example, customers onboarding through the FCA-regulated entity have no access to cryptocurrency CFDs. Brazilians can trade non-deliverable forwards that are otherwise unavailable at the EU, UK, and offshore entities. Trusted by millions of users worldwide, MT4 facilitates trading forex, indices, precious metals, and other commodities in a user-friendly environment. Trading stock CFDs with MT4 is currently unavailable at ActivTrades, however. Renowned for its richness of features, the platform offers a set of unique trading tools for advanced technical analysis, allowing users to create custom technical indicators.

The service is offered in 8 languages, and we can confirm the availability of English, French, Spanish, Portuguese, German, Italian, Chinese, and Arabic. Traders can speculate on the price fluctuations of 33 indices measuring the performance of the largest companies in Australia, Brazil, China, Japan, Europe, and the United States. The most prominent examples are DAX 40, China A50, S&P ASX 200, EuroStoxx 50, Nikkei 225, and S&P 500. Customers can gain exposure to the index market through cash indices and futures. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and as such is to be considered to be a marketing communication.

Customers can integrate the proprietary ActivTrader into TradingView to harness the capabilities of both platforms. The outstanding feature of this platform is chart trading, with support for 12 chart types and the option to view up to 8 charts in a single tab. Below, we outline the main benefits of connecting your account to TradingView. The broker is a counterparty in all transactions and profits solely from the spreads. Customers can calculate their trading expenses by multiplying their position size by the current spread while considering the pip value. Respectively, their trading expenses increase proportionally to their position size.

ActivTrades is a good choice for beginners due to its easy-to-use ActivTrader platform, well-laid-out website, and decent balance of educational content and research tools. The ActivTrader platform is easy to use, thanks to its minimalist design and layout, making it suitable for beginners who might be intimidated by more complex trading software. I’d also mention that ActivTrades hasn’t yet developed a full educational video offering, which you typically find with the best brokers for beginners.