FXCM Pro Pricing, Reviews & Features

Stock trading commission is a flat $8.75, while options cost $8.75 plus $1.25 per contract. FXCM can be considered by most traders as the “grandfather” of Forex brokers, along with the others who were later listed on the New York Stock Exchange in 2001. If you’re a student 25 years of age or older, you can get discounted stock and ETF trades of $5.95, all with no annual fees and no minimum balance requirement. While commissions are higher than discount brokerages, you may be eligible for discounted commissions if you make 150 or more trades per quarter. RBC Direct Investing also offers free Level 2 quotes for stocks and ETFs listed on the TSX.

• The spreads are either fixed or variable and begin at 1.5 pips for major currency pairs.
• Pip costs may vary depending on the account denomination and the notional value of a currency pair which fluctuates on a daily basis.
• FXCM also features a Demo account for traders to enter and trade in a simulated market environment risk-free.
• Since CMC Markets is a member of the Canadian Investment Protection Fund (CIPF), your deposit is protected up to $1,000,000.
• From stocks and options to even crypto, forex, and futures, there are many different platforms that you can invest and trade with in Canada.

Only Canadian and U.S. stock exchanges are supported, with a commission of $9.95 per stock and ETF trade. When converting foreign currency, BMO InvestorLine charges a spread that can be as high as 1.75%. RBC Direct Investing is an online investing service offered by Royal Bank of Canada (RBC). Easy transfers to and from RBC bank accounts make this a convenient way for RBC clients to invest in a wide range of Canadian and U.S. securities, including stocks, bonds, GICs, mutual funds and ETFs. RBC does not offer other foreign stocks listed in other countries outside of Canada and the U.S. RBC Direct Investing covers up to $200 in transfer fees if you transfer $15,000 or more to RBC.

V.I.P. Account

One feature that Canadian forex brokers offer that bank brokerages do not is the ability to make credit card deposits and withdrawals. Using a credit card to deposit gives you instant access to your funds to trade with, compared to having to wait days with a bank transfer, online bill payment, or wire transfer. However, some credit cards may charge a cash advance fee for such deposits. TD charges a flat $9.99 commission on all Canadian and U.S. stock trades. This is reduced to $7 for active traders that make more than 150 trades in a quarter. For options, the commission is $9.99 plus $1.25 per contract.

Friedberg Direct is a well-established investment firm that has been around since 1971. The company manages over $2 billion in assets for both retail and institutional investors. It’s a member of the Investment Industry Regulatory Organization of Canada (IIROC) as well as the Canadian Investor Protection Fund (CIPF). Find out how you can start trading with Friedberg Direct, and open your account today with a simple online registration. The trading system is very easy to navigate around, and is simple enough for beginners. This implies that British FCA has the most responsibility for regulation.

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• National Bank is the only major bank to offer completely commission-free stock and ETF trades through their online stock brokerage.
• Friedberg Direct offers a number of different trading options, depending on what you’re interested in.
• Withdrawals can be made back to the same credit card or debit card, or as a wire transfer to your bank account.
• FXCM’s Standard account is an Electronic Communication Network affair that allows your spreads to start at 0 pips flat.

The messages never arrived on my end (or the client representative lied through his teeth). BTW I archived EVERY e-mail message since the start being a client. Calling or chatting these days needs to be confirmed with a confirmation code sent by the FXCM rep by e-mail.

Enjoy competitive spreads and a low mark-up on a number of forex products with this trusted online forex trading platform.

It’s interesting that there’s also a decent selection for traders with regard to order execution. Thank you for taking the time to leave a review and rating. I’m sorry to hear you have had a poor experience with FXCM recently.

This gives you access to $7.75 commissions, a discount from the regular $8.75 commissions, plus no account minimums and admin fees. To avoid this, you can pay a $10 monthly subscription to get access to Wealthsimple’s Plus plan, which allows you to open an U.S. You’ll only be charged the 1.5% conversion fee once to convert CAD to USD, and once to convert USD back to CAD. Once you have a balance in USD, you can use it to purchase USD-denominated stocks commission-free.

Canada’s Top Online Trading Platforms

You can also avoid paying this $25 quarterly account fee by making at least two trades in six months. The account fee for registered accounts (RRSP, LIRA, LRSP, RIF, LRIF, RLSP, LIF, and RLIFs) is $100 per year if the account balance is less than $25,000. Friedberg Direct and FXCM are partnered to bring you forex trading platforms designed to meet your needs as an investor. You can buy and sell currencies quickly and easily for low commissions and a low mark-up on foreign exchange spreads. Learn more about how this platform works and sign up for your free account today to start investing. Stock trades cost $0.01 per share, with a minimum commission of $8.

Intend on using FXCM however as inactivity will lead to a fee down the road. A broker-neutral service, executing strategies while minimizing market impact, reducing transactions costs, and monitoring risk. In the bonus area, the broker FXCM isn’t necessarily convincing because, unlike many other brokers, there’s no regular bonus on the first deposit. The actual fact that the broker doesn’t actively advertise a bonus doesn’t necessarily mean that no customer has the chance to receive a bonus on the primary deposit. There are 100 ETFs that can be traded commission-free, and this includes many iShares, Vanguard, Horizons, and Desjardins ETFs. In order to qualify for commission-free ETF trades, you’ll need to hold the eligible ETF for at least one business day.