Best trading app Canada
Which is the best trading app in Canada? Do the best sites for trading also have the best apps? Do you want to trade stock, forex or CFDs?
We reviewed a number of apps, among others, apps from Saxo Bank, Alpari International, FXPro and HotForex that didn’t make the list below. Based on these reviews we found that AvaTrade’s app is the best trading app in Canada. And then easyMarkets and OctaFX also got their apps in the top three trading apps in the Canadian market, whereas AvaTrade also has the best trading app for beginners.
The wonderful news for you as a trader is that all the four trading apps in the list below are completely free. The 4 best trading apps in Canada are:
- AvaTradeGo Trading App
- easyMarkets Trading App
- OctaFX Trading App
- Forex.com Trading App
These four mobile trading apps for Canada are furthermore run by brokers that are correctly regulated and thus you can feel safe about your money. AvaTrade and Forex.com are furthermore regulated by the Investment Industry Regulatory Organization of Canada (IIROC). But as always with trading, never invest more than you can afford to lose. Below you can read our reviews of these top four trading apps.
1. AvaTradeGO Trading App.
The app AvaTradeGO is very well liked by traders because of the quick download, the offering of a direct chat option with AVA support and it also offers access to more than 250 tradable assets. The brokerage AvaTrade also offers a tremendous welcome bonus of 20%! Visit AvaTrade
2. easyMarkets Trading App.
The easyMarkets mobile trading app has accrued mostly positive reviews from its users. The charts come with a wealth of technical indicators, such as Bollinger Bands, various MAs and oscillators. Reliability comes to mind as a very strong advantage of this trading app. Visit easyMarkets
3. OctaFX Trading App
The OctaFX cTrader mobile app puts an astounding amount of relevant information at your fingertips, when and where you need it. Still, it is a very simple and straightforward solution for trading on the go, with a few additions of extra features. Visit OctaFX
4. Forex.com Trading App
Forex.com’s mobile trading app is stable and does not freeze during the action and the TradingView-based charting is one of its absolute strengths. However, some users have found the app unstable and its charts slow to load, likely when their connection is not the best.
What to look for in the best trading app
The most important feature of your mobile trading app would be the possibility of cross-platform trading, i.e. you should be able to enter a trade on your desktop and close the same trade in the app. Another important aspect is how simple the app is to use. The easier the better. Furthermore, the app needs to make a wide variety of assets available for trading, to fulfill all of your trading-related needs. All the reviewed trading apps on this page offers trading in both stocks, forex and CFDs, however, the number of assets provided for trading in each asset class will vary.
Of course, you also want the app to provide both live and demo accounts. This way, you’ll be able to test the app and to practice in it before you start using it for real money trading. In-app copy trading is also a feature you will likely appreciate. And lastly, on your part, you will need a highly reliable connection to avoid potentially very costly mistakes.
AvaTradeGO Trading App
Like most online FX/CFD brokers, AVATrade has made available mobile apps for Android and iOS devices.
The apps, which essentially look the same and work the same way, are fairly run-of-the-mill. They offer access to more than 250 tradable assets and feature leverage of 1:30 on some of these assets.
New revolutionary risk management tool. With AvaProtect, clients can now have their trades protected from market risk. For a small initial fee clients can now protect their trades during a specified time and AvaTrade will reimburse the loss on their protected trade. This feature is available for all FX pairs as well as Gold and Silver.
The Android version is obviously the more popular. More than 100,000 people have thus far downloaded it. While there are some complaints regarding overall usability, technical analysis features and some practices on the part of the broker, the majority of the user feedback is positive.
Downloadable for free, AvaTradeGO is only 16Mb big. It can be installed in under a minute and it comes with a great practice mode option, which can be activated just as quickly.
It makes after all perfect sense for traders to put the app to the test in virtual money mode before they use it to invest real money.
Opening a position through the app is as simple and straightforward as possible. All one has to do is to navigate to the market section and select a currency pair/tradable asset.
The dashboard of the app features a horizontally scrollable watchlist as well, so tracked assets and currency pairs can be traded directly from there.
A relatively standard Menu button in the top left corner provides access to the Trade History, one’s open positions, the Market section, as well as to the My AVA Account section.
The app also offers a direct chat option with AVA support, as well as a number of technical tools, such as Pivot Points, MACD, RSI, and a handful of other indicators. Charts can be viewed in landscape mode.
The latest version of the AvatradeGO Android app introduced a few improvements concerning the design of the homepage and a few other features.
- The homepage of the app now lets users choose from two display options.
- App navigation has been improved and a new instruments summary page has been added.
- The “hot” trading instruments are now displayed in a separate list.
With the improvements, the size of the app has increased a bit.
As mentioned, the iOS version of the app is a lot like the Android one. Interestingly, size-wise, it is much heftier. iPhone and iPad users will have to download 76.7MB – rather surprising given the relatively simplistic nature of the app.
The iOS app is available in an impressive number of languages. Besides English, French, German, Italian, Chinese, Spanish, Russian and Arabic are all supported.
Upon its launch, the iOS app used to feature a $12,500 bonus. Traders can access the Education Centre through the app, to brush up on their trading skills on the move.
The latest version of the AvaTradeGO mobile app introduced a few tweaks as well. It improved app usability and security by adding an app lock with fingerprint/pass-code. It has made the Market Buzz, Economic Calendar and Featured Ideas available directly through the menu.
Both mobile apps support real money deposits and withdrawals, as well as account registration. The Market Trends feature is claimed to be a technology unique to the AvaTradeGO platforms.
Start trading with the AvaTradeGO Trading App now.
easyMarkets Mobile App Review
The easyMarkets mobile trading app looks good and it works as intended. The application has accrued mostly positive reviews from its users. Its Google Play score is currently 4.1 out of 5.
That said, there are some user complaints that do not seem to make a lot of sense.
- Several people have complained that the app is slow to load. We have not noticed such problems. From what we saw, the mobile platform launches just as quickly as any of its competitors.
- Others have complained about lag when opening positions. We have not experienced any lag in this regard either.
- Some do not like the visual appearance of the trading interface. While the graphics of the app are not particularly outstanding, it looks just as good as any other modern mobile trading app.
The dashboard does not include charts by default. You can, however, open the chart of an asset by clicking on it. We should also add that the chart looks great. Users can add a wide range of technical indicators to it in landscape- as well as portrait mode.
Upon its first launch, the app jumps into tutorial mode. It explains its functions and shows the user how to make the most of its capabilities.
The platform does not go into disarray after a period of inactivity. Its functions, including its charts, continue to work as intended.
What Does the EasyMarkets Mobile App Aim to Deliver?
- Decent tradable asset selection.
- A slew of interesting special features.
- Live Price notifications.
- Fixed spreads.
- Top-notch account management and support.
Asset selection takes center stage on the dashboard. All supported asset categories are displayed top center. In this regard, the app offers Forex, indices, shares, cryptos, commodities, and metals. A handy search tool makes it easy for traders to find their preferred assets.
Most trading through the app happens via CFDs.
How to Open a Position Through the EasyMarkets Mobile App?
Opening a position with easyMarkets starts with asset selection. Once you have located the asset that you want to trade, click on it. The app will give you details on the trade you are making. It lets you choose the expiry time and it shows you the potential payout in both directions.
The broker has recently added Japanese, Australian and Hong Kong-listed shares to its tradable asset selection.
As soon as you click the Buy or Sell button on this screen, your trade goes live. You can open the chart belonging to the selected asset, at the bottom of your trading screen. You can perform your technical analysis right there. Other shortcuts next to your chart button let you analyze the fundamentals as well.
You can monitor the status of your open positions through the Positions button at the bottom of your easyMarkets dashboard.
The My Account feature will give you a detailed picture of your account. It covers your balances, margins, and your current Profit/Loss situation.
Special Features of the easyMarkets Mobile App
The Demo version of the app is fully-featured. It offers all the functions of the real money version. The only difference is that you will not risk any real money through it.
As mentioned, once you click on the tradable asset of your choice, the app opens a trading screen. At the bottom of this screen, there are features that should fulfill all of your technical- and fundamental analysis needs.
- The chart comes with a wealth of technical indicators. You will find everything here from the Bollinger Bands to various MAs and oscillators. You can also change the chart type and the time frame. The chart supports 11 time frames, from one minute to one month.
- Next to the chart, there is a Trading Signals button. This section provides you with trading signals that are detailed and easy to apply.
- The News button gives you a peek into the fundamentals that drive the price.
- The Financial Calendar highlights future events likely to impact price evolution.
- You can re-launch the tutorial feature at any time if you need extra information.
- Sensitive to user feedback, the easymarkets team has recently implemented a feature which is truly exceptional, albeit not unique. This feature is called dealCancellation and it allows traders to undo their trades in exchange for a small fee. If you do not like a losing trade you just had, you can undo it in 1,3 or 6 hours. Through cancellation you can recover your lost funds, minus the mentioned dealCancellation fee. Be aware that you have to activate the dealCancellation feature and pick the timeframe before you launch your trade.
- The iOS version of the app supports dealCancellation as well. This version is now also available in German and Japanese.
As mentioned, most users are happy with what the easyMarkets mobile app offers them.
Some of the user complaints are related to withdrawal issues and the alleged mishandling of funds. Such issues have little to do with the app itself. Start trading with the easyMarkets Trading App now.
OctaFX Trading App
OctaFX’s mobile cTrader app looks like a very simple and straightforward solution for trading on the go. The app adopts a no-nonsense approach to trading. It features watch lists, powerful charting, and a few additions which would qualify as extra features. That is about it.
The Android version of the app boasts more than 1 million downloads and installs. This is probably the result of cTrader’s clout and popularity in the industry. The overwhelming majority of those who installed the software found it worthy of a rating of five stars out of five.
What is it that traders like about the app?
- The app executes trades extremely quickly. On this account, several users have called it “better than any other app out there”.
- Other users say they love the app because they have been able to rack up profits through it.
- Still others appreciate the fact that the app gives the profit/loss in USD.
- The app is simple and very easy to work. Many people have pointed this out in their reviews.
- OctaFX support is quick to react. This feature is not the merit of the app, however.
Interestingly, most traders who have dropped 5/5 ratings on the app decry some sort of minor shortcoming in their reviews.
- Connection problems are an issue. Some users have complained that such problems have ruined their trades now and then.
- Sometimes the app goes down and it fails to load for several minutes.
- Some users have alleged withdrawal problems.
- Some feel that the app lacks a “close all positions” option. From what we have seen, the app does support such an option. It even allows you to use various filters to fine-tune your mass position-closing.
- The app sometimes freezes up. We have not personally experienced such problems during our time with it.
- Some feel that charting is lacking in certain areas.
- Some traders mentioned that they needed to log in every time. This issue must have been remedied since. We have certainly not encountered it.
The Android version of the OctaFX mobile app has earned a rating of 4.1 out of 5 stars. The app is just 23 MB big. You can download and install it within a few seconds.
The iOS version is 197 MB big. It is also less popular with users than the Android one. Its App Store rating is just 3.4 out of 5.
The Strengths of the OctaFX Mobile App
The cTrader mobile app allows for the full management of your trading accounts. It lets you set up new trading accounts, tweak your leverage, manage and modify passwords, enable swap-free options, etc.
The app supports an impressive number of languages, from English and Chinese to Bengali, Hindi, and Malay.
- The mobile app supports many of the popular payment options.
- It gives you an excellent overview of your trading history. It even allows you to apply filters that eliminate your previous deposits, etc.
- The Demo account is superb. Not only does it work just like a real money one, it even allows you to top it up.
- Bonus management through the app is superb. The app lets you view your bonuses, as well as detailed statistics on your active and completed rewards.
How to Open a Position through the OctaFX Mobile App
Assuming that you start at the dashboard displaying one of your watch lists, there are two ways to launch a trade.
- You can tap one of the assets in your watch list, opening up the chart page of the said asset. From there, you are free to perform your technical and fundamental analysis. Once done, all you need to do is to tap the Buy or Sell button. As soon as you do, the app fills your order and posts your ticket at the bottom of your screen.
- The other way is to tap the Buy or Sell button directly on your watch list. In this case, the app opens a “create order” page, where you can choose your order type, set your take profit and stop loss, the quantity, and you can even attach a comment to your order. When done, just tap the “Place Order” button at the bottom of your screen.
You can keep an eye on your open positions in the Positions section. And yes, you can close them all at the tap of a button if you elect to do so.
When you tap an asset from one of you watch lists, the app opens a page that contains a wealth of information on this asset, in addition to the detailed chart.
- The market sentiment indicator.
- The market depth indicator.
- Relevant entries from the economic calendar.
- Technical analysis by Autochartist.
- Market hours.
- Trade statistics.
It is handy to have all this relevant information at your disposal before you commit.
Though simple at first glance, the OctaFX cTrader mobile app puts an astounding amount of relevant information at your fingertips, when and where you need it.
It does a great job at what it is supposed to accomplish. It may misfire with bad internet connections, but we have found that with a proper connection, it never misses a beat.
Forex.com Trading App
Available in Android and iOS versions, the Forex.com mobile app is a basic mobile trading platform. Some of its features are great, others less so. At any rate, it is not really above or below what other brokers offer in terms of mobile trading.
Having been around for some time, the app has accrued quite a bit of relevant user feedback. On its Google Play page, more than 1,200 traders left comments. The majority of reviewers thought the app worthy of a five-star rating. Interestingly, almost as many reviewers gave it one star out of five only.
The rating of the app is currently 3.1 out of 5, which is not impressive. The rating of the iOS app is 3.5 out of 5.
What do users like about the Forex.com mobile trading platform?
- Its TradingView-based charting is one of its strengths.
- The app is very stable and does not freeze during the action. Some people gave it high ratings because they made money with it. Strictly speaking, this is hardly the merit of the app, however.
- The app allows for quick and easy withdrawals.
- Some users have pointed out the accurate buy/sell tracking.
- The design and color scheme of the app is easy on the eyes.
- The app supports profit target trade entry for limits and it is very easy to use overall.
As mentioned, there are almost as many user complaints as reviews praising the app.
- Some users have found the app very unstable and its charts slow to load.
- On an iPhone, the layout of the charts and indicators leaves a lot of room for improvement.
- Some people have experienced issues trying to log in.
- For some users, the app stopped working as soon as they moved from a demo account to a real money one.
- Most disturbingly, some users say they were not able to log in after they had made a deposit
- Some allege that the app is buggy. They say it works well for a few days, but then it just crashes.
The iOS version of the Forex.com mobile app is 51+ MB big. The Android version, on the other hand, is just 16 MB.
The Strengths of the Forex.com Mobile App
The strengths of the app are many. But charting stands out among them. Forex.com’s mobile charting bears TradingView’s touch. It offers 14 chart types, more than 60 technical indicators, and over 50 drawing tools traders can use for their technical analysis.
Users can overlay several markets on the same chart for comparison purposes.
In addition to that, the app also covers:
- News, to help with the analysis of the fundamentals.
- An impressive range of order types, simple as well as advanced.
- High execution speeds.
- Trading tickets that provide a wealth of information on essential variables, such as projected profit/loss, pip value, required margin, etc.
- Fully customizable dashboards and watch-lists.
- Various reporting tools and full account management covering deposits and withdrawals.
How to Open a Position through the Forex.com Mobile App
To place a trade or an order through the app, tap the asset of your choice. The app then opens up the chart page, with the Buy and Sell options highly visible at the top, together with the spread. You can maximize the chart and turn your phone into landscape mode for better visibility. Even in enhanced charting mode, the Buy and Sell buttons remain available in a smaller format at the bottom of the screen.
Simply tap Buy or Sell, set the quantity of your trade, add associated trades if you want to and confirm through the Place Trade button at the bottom. Your trading ticket pops up, containing all the information about the trade you just placed. You can also place a trade directly from your watch-list, tapping on the buy/sell option there.
The procedure is the same for placing orders. In that instance, you have to provide the price as well as the quantity when filling out your order form.
Charting, with its multiple features, indicators, and attractive visuals has to be the top unique feature of the Forex.com mobile platform. If you have ever used TradingView, you will love it.
In addition to user-performed technical analysis, the platform also offers useful market analysis by the broker’s in-house team of experts.
The broker covers all the education and support one might need to become a professional trader.
Forex.com support is available 24/5 for mobile users.
The Active trader program provides users a dedicated Forex market strategist.
Forex.com’s mobile trading app is no worse than what other similar solutions offer you. It may be the inferior of MT4 –powered mobile platforms, but nothing else can convincingly trump it, thanks to its advanced charting capabilities.
That said, the performance of the app seems to hinge on the quality of your internet connection. With slower connections, charts can take a long time to load.
For further reading, you can see our reviews of the overall best trading platforms for the Canadian traders here.
Please share all the comments you might have on these trading apps in the comment field below. Which is the best trading app in Canada according to you? And do you feel that the best trading app for beginners would be the same app?