Skip to content

Canada’s Top 10 Online Brokers for 2022

  • by

Trading accounts – The XTB Standard account is a popular choice with traders looking to save on trading costs, with a lower spread and zero trading commissions . Registration is both quick and easy, and the broker also offers educational tools and training. This makes it a nice option for beginner investors who want to take their first steps in online trading. It is regulated by several European authorities organizations including the UK’s Financial Conduct Authority. It offers a wide variety of assets including forex, cryptocurrencies, commodities, ETFs and stocks.

Compare these brokers at the top of this page and start investing today. Qtrade Direct Investing for AndroidAbout QtradeReady to start investing? Moreover, XTB provides clients with free insurance, maintained with the Lloyd’s of London, one of the world’s leading providers of specialist insurance, giving coverage of up to 1 million EURO, GBP, or AUD . The insurance is given automatically Indeks dolara ma potencjał do wzrostu to all XTB clients — there is no need to register. Recently, XTB engaged José Mourinho, a Portuguese professional football manager, and considered to be one of the greatest and most decorated managers ever, as the XTB brand ambassador. Surely, traders that are also football fans will recognise this familiar face, and surely, José Mourinho can boost XTB popularity to a global dimension.

Registered online brokerage account

Minimum deposit – Opening a trading account with XTB couldn’t be easier and it can all be done online, via the website. Of course, with a zero balance, XTB customers will not be able to open any trades. But investors can have a real feel for the XTB’s trading platforms, how the spreads widen on high impact news and for the overall trading conditions. Spread fees is a term used by some online stock brokers that don’t charge a specific trading commission. The spread fee is instead built into the buy and sell prices of the financial instrument you are trading. All Canadian online brokerages offer something different in order to entice you into opening an account with them.

The broker’s ambition is to make xStation one of the most reliable and functional trading apps on the market. With more than 15 years of experience, the XTB brand is one of the largest stock exchange-listed FX and CFDs brokers in the world. The company has offices in over 13 countries including the UK, Poland, Germany, Italy, France, Turkey and Chile.

What is an online brokerage?

An online brokerage is a type of financial firm or company that allows you to open an online stock account. You can think of the online brokerage firm, or online stockbroker, as the virtual middleman that gives you access to all sorts of investment markets. The actual definition varies, but in its essence, an online stockbroker is an intermediary between a buyer and a seller of a financial instrument.In the past investing was expensive, difficult and cumbersome because purchases and sales of financial instruments needed a physical financial advisor, who worked at a major bank or investment firm, to execute trades on buyers’ and sellers’ behalf. Enter online stock brokerages.Similar to how Amazon is replacing many brick-and-mortar stores, so too have online stock brokerages revolutionized investing. By giving you direct online access to markets using technology, the expensive financial advisor was removed from the process. Now anyone can invest with ease for a fraction of the cost.

The content contained on thehelloSafe.cawebsite is for information purposes and does not replace that of professional advisors. Although continually updated, the information here may differ from what appears on the providers’ sites. The nature of leverage means that they are high-risk investments with the potential to lose money quickly.


Some brokerages like Qtrade Direct Investing and Wealthsimple Trade offer minimum deposits of $0 while Interactive Brokers Canada requires $1,000 to get started. On the other hand, others offer free transaction fees while another brokerage might charge $7.99 or more per trade. You can compare the estimated annual fees for top brokerages at the top of this page.

xtb konto demo

Independently-minded investors can build their own portfolios with a self-managed account to save on fees. For everyone else, pre-designed QuestWealth portfolios are curated and managed by experts to help you meet your financial goals faster. XTB is one of the largest stock exchange-listed CFDs brokers in the world, providing retail investors instant access to thousands of global markets, via its proprietary platform, the xStation. For accounts opened via any entity of the XTB Group, there is a default Negative Balance Protection mechanism in place. With the NBP mechanism, customers of these regulated entities are protected from any losses bigger than their original investments, in cases of extreme market volatility. Either way, you want to know that your online broker will provide you with the best research and analytical tools that can help you make the right investment decisions.

What are the advantages of using an online brokerage?

XTB strives to provide the best possible trading experience to clients, and the group’s core values are tightly aligned with that vision. Inactivity fee – XTB does charge an inactivity fee to cover account maintenance costs. Through Canadian stockbrokers, you will have the option of opening either government-registered accounts which come with financial incentives, or non-registered accounts which are more flexible. XTB offers an excellent selection of more than 4,000 assets to trade and over 1,500 instruments with the xStation mobile, including CFDs in forex, indices, stocks, ETFs, commodities and cryptocurrencies. Comparatively, SOFI online broker provides few analytical tools for users as they place more focus on customer experience. For these reasons, XTB clients’ funds are kept in top-tier international banks, fully segregated from the company’s funds, and XTB does not use these funds for any company operational expenses or purposes.

What is an online brokerage account?

An online brokerage account, or online stock account, is a virtual account that you can open from afar through an online brokerage. It is like opening a bank account with a bank without having to visit the bank in person. The online stock brokerage account itself is a do-it-yourself, hands-on investment account where you personally invest towards your financial future. Through the account, you can buy and sell shares in specific companies, commodities like gold, silver and wheat, bonds, ETFs, mutual funds and much more. Good to knowIt is important to note that by simply opening an account with an online broker and depositing cash, you are not investing. Once your account is open, you have to actively allocate your money to buy shares in funds, commodities, bonds, etc. in order to invest.

XTB does not charge any fees for deposits (please note that banks or/and e-wallet providers may charge a transfer fee). Opening an investment account with an online brokerage doesn’t suit everybody. It can take time, a fair amount of financial awareness and requires the investor to have an active interest in their financial future. Many who find that it doesn’t Czy można zarabiać na handlu suit them may want to turn elsewhere to get the help they need. As online trading continues to grow in popularity people have started asking specifically why they should use an online brokerage as opposed to enlisting the help of a traditional brokerage firm. As with any service, there will always be cost and this is no different when using an online brokerage.

What are trading commissions and spread fees?

It is usually a set fee and varies between the type of financial instrument you trade, but can also be a percentage cost. The most common costs that you will face are account maintenance fees, trading commissions or spread fees, and, sometimes, inactivity fees. The online stock brokerage account itself is a do-it-yourself, hands-on investment account where you personally invest towards your financial future. Through the account, you can buy and sell shares in specific companies, commodities like gold, silver and wheat, bonds, ETFs, mutual funds and much more.

xtb konto demo

XTB International Limited has implemented an Excess of Loss Insurance Policy, maintained with the Lloyd’s of London. It is also possible that the maintenance fee will be a percentage of your overall account value, but in those instances, it may have a maximum and minimum amount which keeps costs steady. Customer support – XTB’s multi-language customer support service is available 24 hours, 5 days a week, in 16 languages. XTB’s support is available via local phone number , email and through the live chat widget directly on the broker’s website. Fxverify is the first of it’s kind and only publishes user reviews by verified customers with a real XTB trading account. ETFs ETFs CFDs of several sectors including mining, energy, technology, bond markets and retail, tracking the overall performance of the equity markets in 35 countries and across 6 continents.

Online brokers by their nature have low maintenance fees because they have removed the physical financial advisor and you take care of your account and investments yourself. The maintenance fee varies depending on the stock brokerage and can range from $0 to $100 per account per year. XTB offers investors industry-leading pricing, and competitive trading spreads across several asset classes, with a note on forex instruments. Robo-advisors and tranditional financial advisors are compelling alternatives to online brokerages. This guide explains what online stock brokerages are, how to pick the best online broker for you, a few pros and cons, as well as a rundown of online stock broker accounts. After you have decided on the best online brokerage for you, you need to decide which specific type of online brokerage account will best suit your needs.

  • Commodities – 22 commodities CFDs available for trading with several metals , energies and soft .
  • The spread fee is instead built into the buy and sell prices of the financial instrument you are trading.
  • For these reasons, XTB clients’ funds are kept in top-tier international banks, fully segregated from the company’s funds, and XTB does not use these funds for any company operational expenses or purposes.
  • If you want and need immediate access to your investment account you may prefer a platform that offers a mobile application like Desjardins Online Brokerage and CIBC Investor’s Edge.

With all these tools at your disposal, you can select your investments with confidence. And of course, it is also a great choice for investors looking to save on trading costs, thanks to XTB competitive spreads , merged with zero fees for deposits. In order for online brokerages in Canada to offer their services to Canadian residents, they have to be licensed and registered with the Investment Industry Regulatory Organisation of Canada . This authority sets and Dlaczego należy zwolnić swojego maklera lub doradcę finansowego enforces rules for the financial conduct of investment firms. For example, Questrade online brokerage provides users with insights, market data and research to help them make informed investment decisions based on fundamental and technical analysis. Specifically, their trading platforms Questrade Edge Web and Questrade Edge Desktop provide information on trending stocks, analyst ratings and Smart scores which are helpful to beginner and expert traders alike.

The platform’s intuitive planning tools and calculators empower you to assess your net worth and develop an investment plan. Find the right investments for your portfolio and reach your financial goals. Get analysts’ evaluations as well as fundamental analyses of company performance.

You, therefore, need to look past the marketing and branding to discover the real differences that will affect your investing experience. A non-registered online stock brokerage account is simply an account that is not registered with the Canadian government and does not come with the same tax-free advantages. However, they are much more flexible as they don’t come with the same restrictions and are commonly used by active investors. In 2020, Canadians opened more than 2.3 million DIY online brokerage accounts compared to only 846,000 new stockbroker accounts in 2019. This influx of new online traders has been attributed to pandemic boredom and younger generations increasingly taking control of their financial future in a study from Sun Life Financial.

Leave a Reply

Your email address will not be published. Required fields are marked *