Best Day Trading Platform in Canada in 2021
Which is the best trading platform in Canada? Is the best trading platform also best for beginners and day trading?
We have reviewed a great number of online trading platforms and found the answer in the list below. A few of the best platforms that didn’t make the list were trading platforms from Tradefred, BDSwiss, Nord FX, HotForex, CMC Markets and Saxo Bank. The winner from these reviews: easyMarkets trading platform is the best trading platform in Canada.
The wonderful news for you as a trader is that all the 6 trading platforms in the list below are completely free. The 6 best trading platforms in Canada are:
- FXCM Trading Platform
- Forex.com Trading Platform
- VT Markets Trading Platform
- BlackBull Markets Trading Platform
- TickMill Trading Platform
- easyMarkets Trading Platform, great for skilled traders with a nice freeze the price feature.
1. FXCM Trading Platform
The trading platform selection of the broker is superb. It does not feature countless choices. Its two platform options cover all possible needs.
Trading Station is the proprietary web-based platform of the broker that anyone can launch in seconds. The broker offers a superb Demo account, with 50,000 units of virtual money. FXCM considers Trading Station to be its ‘main platform’. Unlike other proprietary trading platforms you might encounter, Trading Station is surprisingly powerful. If features scores of technical indicators, superb charting, and outstanding trading tools, such as Trader Sentiment, Market Depth, and Real Trading Volume indicators.
The platform is fully customizable. Users can add an impressive array of widgets and they can optimize the layout of their trading interface. Trading Station features support for automated trading strategies. In addition to strategy optimization, the platform also offers back-testing for various strategies. Through the Trading Station interface, users can trade directly off the charts. They also have access to technical- as well as fundamental data concerning the asset of their choice.
MT4 is the well-known and liked workhorse of the online FX/CFD trading industry. Charting- and features-wise, MT4 is certainly unbeatable. Those who download FXCM’s version are free to use any trading strategy, like scalping. The broker supports EAs as well as the VPS needed for the proper functioning of the Expert Advisors.
MT4 is also a fully customizable trading environment. Users can download and install it in a few seconds. The broker offers a Demo option for this platform as well.
As far as trading tools go, FXCM is probably one of the top destinations. In addition to access to Trading Central, the broker also offers trading tools such as:
- Social Trading
2. Forex.com Trading Platform
Forex.com features no fewer than 3 trading platforms: an Advanced Platform, a Web Trader and a couple of mobile trading apps for Android and iOS.
The Advanced platform is a very fine trading environment indeed. It is aimed at serious traders, but beginners/recreational traders can use it as well. It offers more than 80 built-in technical indicators, as well as fully customizable dashboards, not to mention trading preferences.
The platform also comes equipped with hundreds of templates one can use to create trading strategies.
The Web Trader is almost as advanced as the above described Advanced platform. It features more than 70 technical indicators and some 50 drawing tools traders can use to make heads and tails of various chart/candlestick patterns. Market analysis is also part of the this package, as is a selection of integrated trading tools.
The mobile trading apps may not be visually as appealing as the above discussed two desktop platforms, but they are powerful in their own right too. They support multiple order types and access to the full range of tradable assets allowed by one’s account type.
Market news are delivered in real time through these platforms too and real time alerts are provided as well.
3. VT Markets Trading Platform
This broker has kept its platform options simple but solid. As mentioned, VTMarkets’ offer is based on the tried-and-proven MT4 platform. The platform is available in WebTrader, full desktop, and mobile versions.
The desktop version is the one that guarantees a full trading experience. MT4, as popular and complex as it is, only takes a few seconds to download on any reasonably fast connection.
VTMarkets’ MT4 is a fully customizable trading environment, which allows traders to adopt any strategy that they wish and automate it through Expert Advisors.
MT4’s charting capabilities are second to none. The platform supports three chart types and up to nine time-frames for proper technical analysis. In VTMarkets’ case, the platform features 70 tradable assets, covering FX pairs, as well as various commodities and indices.
In what other ways does VTMarkets’ MT4 platform stand out?
- It offers superb order execution. The broker uses a proprietary MT4 bridge and high-performance data centers all over the world to facilitate execution speed.
- Through this platform, traders get superb trading conditions. The spreads on the ECN accounts start from 0.0 pips.
- VTMarkets’ MT4 does not impose any restrictions on your trading style.
Perhaps the most appreciated feature of the platform is that it offers free expert advisors and a VPS service to match the generosity of that offer. When using EAs, the speed of execution depends on the network/servers. According to the VTMarkets website, the broker has built a fiber-optic network that connects its servers, to offer optimal execution speeds. While the connection from the client to the server remains a legacy one, the server-to-server fiber-optic network can still hasten execution.
The WebTrader mimics the functionalities of the full desktop MT4, in a browser-based package. The compatibility of the platform is great. It allows users to access it from more than 5 different browsers. And it copes well with the expectations of the modern trader.
It offers great charting, a decent package of technical indicators for analysis, off-the-chart trading, etc.
In addition to the WebTrader, VTMarkets’ MT4 is also available in mobile versions for iOS and Android devices.
As far as trading tools go, in addition to its Expert Advisors, the broker also lists a Forex signal service. Through this service, experts of the broker deliver actionable trading recommendations in an easy-to-read format. The service uses the expertise of signal services such as MetaQuotes, Acceage, and Trading Central.
The broker’s Economic Calendar is a great tool for fundamental analysis. It lists all major upcoming economic events, as well as the impact these events are likely to have on the markets.
4. BlackBull Markets Trading Platform
BlackBull Markets offers three trading platforms.
- MT4 is a fully customizable online trading environment most traders know and love. The broker has made it available in a range of versions for Windows, Mac, iOS, and Android.
BlackBull’s version of the platform offers an institutional-grade experience. It supports EAs (Expert Advisors), and together with the VPS service the broker also offers, this sets the stage for profitable algorithmic trading.
Like most of its other features, MT4’s EAs are fully customizable. You do have to be handy with MetaScript, however, if you intend to program your custom EAs.
In addition to EAs and superb charting/technical analysis tools, BlackBull’s MT4 supports multiple order types and analysis tools. Other noteworthy features/functionalities of the platform are enhanced order execution capabilities and a market watch window.
- MT5 is another popular MetaQuotes trading platform, covering slightly different needs than MT4.
MT5’s main strengths are fast order processing, support for advanced pending orders and hedging, as well as a bevy of trading tools and technical indicators.
The version available for download at the BlackBull Markets website comes equipped with more than 30 preinstalled technical indicators, covering more than 20 time frames. The platform also features an integrated economic calendar to help with fundamental analysis.
Traders looking to access MT5 need to talk with the BlackBull Markets support first and obtain permission.
- The BlackBull Markets Web Trader is a simplified version of the MT4 platform. Its trading interface is intuitive, and it offers a great selection of drawing tools and technical indicators.
According to the broker, its Web Trader delivers all the benefits of MT4, in a highly compatible no-download package.
5. TickMill Trading Platform
Some reviewers have derided Tickmill for featuring a single trading platform: MT4.
MT4 is, however, the best and most complete trading platform in existence. It covers all possible needs, and in Tickmill’s case, it offers superb EA support.
The broker has made the platform available in two versions.
A web-based, no-download version.
The full, downloadable version.
Both platforms require the same username/password combination for access. The main advantage of the WebTrader is that it offers quick access, and it is not device-dependent.
Although simpler and more streamlined than the full version, the WebTrader supports the same charting capabilities. It is MT4 through-and-through.
The full MT4 platform features superb compatibility as well. In addition to Windows platforms, it also works well on macOS, Android, and iOS-powered devices. This is the same version you get when you grab Tickmill’s mobile trading app.
MT4 offers a fully customizable trading environment. It supports MQL, the programming language you can use to code your own EAs and technical indicators. You do not have to be an expert to use a wide range of such trading tools. You can also pick them up from third parties and install them on your MT4.
- The broker has synchronized the two platforms both ways. What this means is that if you launch a trade on one, you will see it reflected on the other. This synchronization is instantaneous.
- The mentioned synchronization also translates to your trading history. You can now visualize all of your past trades through both platform versions.
- The WebTrader supports real-time quotes through Market Watch.
- The price charts it features are fully customizable.
- The WebTrader supports a total of nine time frames.
- In regards to technical analysis, the capabilities of the browser-based platform are impressive. It features more than 30 technical indicators.
- The compatibility of the WebTrader platform is superb. It works with all modern browsers.
- The platform securely encrypts all data transmission to and from the server.
Be default, the Tickmill MT4 platform offers more than 50 technical indicators.
- MT4 offers CFDs on a wide range of tradable assets, such as FX pairs, indices, bonds, commodities, and stocks.
- Tickmill’s liquidity pool is outstanding. Thus, you can execute your orders without any partial fills.
- EA support would not be complete without a VPS setup to match it.
- Through MT4’s advanced notification system, Tickmill delivers actionable trading signals.
In addition to what the two trading platform versions jointly deliver, Tickmill also offers its traders an impressive selection of trading tools.
- Preinstalled with the MT4 terminal, Tickmill offers a one-click trading EA. With the help of this expert advisor, you can perform intricate trading maneuvers, with the click of a mouse. Such operations include the placing of Stop Losses and Take Profits, closing positions, and creating new ones.
- AutoChartist is an advanced technical analysis tool, creating trader alerts, and working perfectly with MT4.
- The broker also offers a handful of Forex calculators, such as a currency converter, a margin calculator, and a pip calculator.
- The economic calendar is live on the official Tickmill website. It offers traders the opportunity to perform fundamental analysis and to trade the news.
- Tickmill’s VPS service offers low latencies, uptime guarantee, and quick setup.
6. easyMarkets Trading Platform
EasyMarkets offers a web based trading platform that allows traders to execute deals from just about any online computer in the world with a browser. In addition, the company offers an MT4 trading platform that has its usual extensive support for technical traders.
This platform gives traders access to quote for more than 200+ instruments, including forex, commodities, metals and indexes, all with online access 24/7 and without the need to download and install any software. One click trading is available from the platform’s Market Explorer, which includes advance charting options, news, technical analysis and market sentiment, all on one screen.
The screenshot below illustrates easyMarket’s trading platform that allows traders to execute deals in forex pairs, vanilla currency options, CFDs, commodities, precious metals and indices, as well as perform technical and fundamental analysis functions.
EasyMarkets’ trading platform runs on Internet Explorer’s Version 10 and above, FireFox, version 31 and above, Google Chrome version 31 and higher, Opera version 24 and above, Android version 4.1 and above, Google Chrome for Android version 37, and Safari version 7 and above. Non-supported browsers remain fully functional despite displaying some stylistic elements differently.
EasyMarkets users can unlock a third trading platform: easyTrade. easyTrade can be accessed from the EasyMarkets platform. In the top right corner, there is a Menu button. Hit that and a number of options will roll out, with easyTrade being at the bottom.
In addition to dealCancellation, the broker also offers a unique trading tool called Freeze Rate. This feature lets traders freeze the price they see, thus gaining a few seconds to place their trade. To those skilled enough, such a feature offers a great advantage.
Please share all the comments you might have on these online trading platforms in the comment field below. Which is the best trading platform in Canada according to you? And would you say that the same platform is also best for beginners?