FOREX.com Canada Review: Global CAD Forex Trading
Name: FOREX.com Canada
Description: Forex.com provides its Canadian clients with more than 80 Currency pairs, indices, commodities and almost 3000 equity CFDs, with raw spreads from as low as zero pips and commissions of US$7.00 per US$100k traded.
Is FOREX.com good for trading in Canada?
Yes, FOREX.com is fully regulated in Canada and owned by StoneXm, listed on the NASDAQ exchange, and as such, we rate them as a safe brokers to trade with.
Tools available to Forex.com’s Canadian clients
Trader tools available to clients include Playmaker, a performance analysis app, that allows traders to set up and monitor a personalised trading plan in real time.
Playmaker, which is one of three trading analysis tools on offer, is designed to highlight the good and bad traits, within a client’s trading behaviour, it aims to encourage them to screen out the bad habits, whilst retaining and repeating the good.
Playmaker does this by offering traders real-time feedback in running on their trading decisions.
Forex.com clients can also use the popular charting tool TradingView and trade directly from those charts.
There are also news feeds and frequent articles on market analysis, with regular features such as Technical Tuesday and Forex Friday.
As well as discussion pieces on topics of interest, such as bank and technology earnings, alongside an economic calendar and regular updates on the stock market.
Forex.com’s Canadian trading platforms
When it comes to trading platforms, Forex.com’s Canadian clients can choose from the firm’s mobile trading app, a desktop web-based trader, or MetaTrader 5.
High-volume or premium trading clients can also access Active Trader, a service that provides them with a dedicated relationship manager, reduced trading costs and cash rebates.
I’ve used FOREX.com a lot over the years. If you want to know what the platform is like, you can watch our 24-hour test as we trade live and even bank some profits.
Trader education
There are plenty of educational resources on the website including tutorials on using the forex.com trading platforms, and courses that range from the basics of trading and an introduction to financial markets, to mastering Forex and advanced technical analysis techniques.
There are also guides on popular candlestick patterns and simple strategies that newbies can employ, added to which there are regular webinars from Forex.com’s team of analysts and experts.
Pros
- Tight spreads
- Good market access
- Owned by StoneX
Cons
- Limited stocks
- No DMA trading
- Limited options trading
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Pricing
(5)
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Market Access
(4.5)
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App & Online Platform
(5)
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Customer Service
(5)
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Research & Analysis
(4.5)
Overall
4.8
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
You can contact Richard at richard@goodmoneyguide.com
