forex brokers

For certain registered accounts , the annual account fee of $100 is charged if your account balance is $25,000 or less. No annual fee is charged for TFSAs or RESPs no matter your balance. Another feature that Questrade offers, besides its large selection of paid market data packages, is the ability to get unlimited snap quotes. This is free real-time data for certain Canadian and American markets, including TSX, NYSE, and NASDAQ level 1 data, that is available with just one click. Now i am getting a little tired of their ECN fees as my share trade volumes increase.


Lend the stock to IBKR and receive cash collateral for your service. You lend your shares to other traders that want to sell them short. Every day your stock remains out on loan, you’ll receive interest on the collateral posted to your IBKR account at market rates. Overall, this trading platform is a good choice for advanced traders.

Interactive Brokers Canada Trading Fees

On currencies, offers some of the lowest fees on exchange rates, and also gives you access to a wide range of currencies. Investors who trade under 300,000 shares a month on US markets will be charged $0.0035 per share, with a minimum of $1 and up to 1% as a maximum . Portfolio Margin Accounts – These accounts allow you to require an equivalent positions as regular margin accounts. However, they use an alternate method of calculating the margin requirements. Often times, these requirements make sure that users can enjoy greater leverage, but they are doing require a minimum balance of $ 100,000.

  • Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917).
  • Been using the IBKR for a year with a few issues but they resolved them quickly for me.
  • For any other type of account, you will need to turn to another provider.
  • So, I’m interested to know how Interactive Brokers stacks up against what is arguable Canada’s best all-around discount brokerage.

However, most retail traders will never even come close to 300,000 shares per month. Interactive Brokers Canada requires a minimum deposit of $100 when funding your account. However, you can avoid this fee if you have more than $100,000 in your account, or trade more than $30 in commissions during the month. In Canada, clients have the ability to choose from a variety of different options when choosing an online brokerage.

Service Cost

IBKR evaluates the risk in your account, including hedged positions that may mitigate potential downside risk. In order to make a withdrawal from your Interactive Brokers account, you will need to provide certain information, including your bank account number and the amount you wish to withdraw. The first cash withdrawal in any one month is free, but there will be a charge for each additional withdrawal. You can find more information on the Interactive Brokers website. Overall IBKR is one of the most versatile online brokerages available at the moment. According to their U.S. website, IBKR Lite clients can benefit from commission-free U.S. stock/ETF trades.

Active traders love the low trading fees and foreign exchange rates, access to many international markets, and the robust trading platform and market research tools. Their new simple mobile trading application for investors to trade stocks around the world. With a streamlined design, the app is easy for novice investors to use, and powerful enough for experienced stock traders. Investors can open an account in minutes and start trading stocks on over 90+ stock exchanges in North America, Europe, and Asia. Investors can easily scan and trade global stocks from their phone or tablet, and you can even test it for free with instant access to $10,000 in a simulated trading environment. It’s fast to get started, you can trade stocks worldwide, and you can even trade fractional shares.

TradeStation vs Interactive Brokers Review 2023: Forex Trading And … – Modest Money

TradeStation vs Interactive Brokers Review 2023: Forex Trading And ….

Posted: Wed, 15 Mar 2023 17:52:12 GMT [source]

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Mobile App

Packed full of features, navigating through either the web or mobile application requires time and patience. Accessing U.S. markets is extremely important for me as it is for many other traders. The ability to trade both U.S. and Canadian-based securities for equally low fees is unmatched in Canada. Our contributing writers are all Canadian or Canada based and actively using the Canadian financial system.


In addition to stocks and options, you can trade futures, futures options, forex, bonds, and funds. On top of all this, IB has some of the lowest margin rates in the industry. This means that you can borrow money to invest and trade at low interest rates.

Questrade Margin Rates

There are so many options to sort through, and understanding what each one does can require a great deal of effort. Generally, new users may find the platform overly complicated. One of the most common complaints about Interactive Brokers is the user experience. One of the biggest upsides to Interactive Brokers is the ability to open a wide range of account types.

The fixed rate comes inclusive of all exchange and regulatory fees. The transaction fees are passed through on stock sales for US stocks, exchange-traded funds , and warrants. Interactive Brokers Canada is the Canadian expansion of the US brokerage Interactive Brokers and was founded in 1978. Since the IBKR Lite package is not available in Canada, you’ll have to go with the Pro account.

Get unlimited free trades with one of Canada’s oldest online brokerage. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Interactive Brokers has margin rates that are up to 66% lower than the rest of the industry.

For equities, Scotia iTRADE only offers stocks listed in Canada or the U.S. The latest challenger is Wealthsimple Trade, which is a stock-trading mobile app that offers commission-free ETFs and stocks . Questrade is still, by far, the more robust trading platform.

national bank

I too have interactive brokers forex reviewed with WealthSimple, very recently, but am wondering if Questrade might be a better option for me. The TD Waterhouse call line is 24/7 and my on hold time is virtually nil. Because of this I advise my kids to go TDW its worth the slightly higher fees.

I scoured the internet for hours to find reviews of people who are or have actively been using Interactive Brokers Canada for their trading activities. I found mostly positive reviews, while some users were disappointed. Here’s what people have to say about this discount brokerage. Many customers have complained about the horrible customer support from the platform.

Some of the products and services listed on our website are from partners who compensate us. This may influence which products we compare and the pages they are listed on. At Finty we want to help you make informed financial decisions. We do this by providing a free comparison service as well as product reviews from our editorial staff.

Keep in mind that some online brokers update stock trading quotes in real-time, but others have a lag, which could be problematic for high-volume traders, like day traders. The platform supports a number of investment types, including trading stocks, bonds, GICs and mutual funds, and trades are $9.95 each. I’d like to see a more in depth review that is less like an advertisement that paints one platform as a fee pirate and the other like a cure-all . I do use a full service broker for their advanced trading platform, which is great for anyone that uses technical analysis or wants to view price action.