To find the best international online brokers in Canada, we went ahead and did the research for you. After testing, analyzing and comparing 51 brokers, 5 made it to the top. We highly recommend all 5 to you. And now, without further ado...
The top 5 picks for the best international online brokers of 2019 for citizens in Canada:
- Interactive Brokers is the number one international online broker in 2019. Broad product portfolio. Low fees. Great and diverse research tools.
- Tradestation, place two. Great mobile trading platform. Wide range of reserach tools. High-quality educational tools.
- FXCM. Low trading fees and financing rates. Good technical research tools. Fast and straightforward account opening. Third place.
- Oanda, numero quatro. Easy-to-use web trading platform. Easy and digital account opening. Powerful research tools.
- Internaxx. Great research by Morningstar. Outstanding investment fund offering. Banking license and high investment protection. Just made it to the list with being number five.
| Broker | Info | Score | Best in | |
|---|---|---|---|---|
| #1 | Interactive Brokers | US discount broker | 4.8 | Best online broker |
| #2 | Tradestation | US stockbroker | 4.4 | |
| #3 | FXCM | UK-based forex broker | 4.3 | Best technical tools |
| #4 | Oanda | American FX broker | 4.2 | Best API |
| #5 | Internaxx | Luxembourgish online broker | 3.6 |
All 5 brokers are considered safe. They are regulated by top-tier financial regulators.
What makes a good online broker? They need to offer fair fees. It must also be easy to open an account and deposit. They should offer access to a lot of markets and need to have a great platform. Easy to list, but hard to figure it out. We are testing brokers along ~100 criteria with real accounts and real money. We know what's up.
Not sure which broker? For a tailored recommendation, check out the broker finder tool. You can enter your country and it will show only the relevant brokers. Want more details? Compare brokers with this detailed comparison table.
Boring, but important stuff: Some of the brokers portfolio might contain CFD products. CFDs are complex and very risky, thus not suitable for everyone. You can easily lose all of your invested money. If you don't have clue what a CFD is, start with these CFD trading tips
And now, let's see the best international online brokers for Canada in 2019 one by one. Starting with the winner, Interactive Brokers.
#1 Best international online brokers for citizens in Canada
Interactive Brokers
4.8
5 stars
Best online broker
Interactive Brokers was founded in 1978 and it is one of the biggest US-based discount brokers. It is regulated by several regulators globally, including top-tier authorities like FCA and SEC. Interactive Brokers Group is listed on the New York Stock Exchange.
Interactive Brokers is considered safe because it has a long track record, is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.
Recommended for traders who prefer low fees and a professional trading environment
- Broad product portfolio
- Low fees
- Great and diverse research tools
- Funding and withdrawal only through bank transfer
- Complicated account opening process
- Not user-friendly and complicated desktop trading platform
#1 Interactive Brokers
Fees
4 stars
Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.
- Low trading fees
- Transparent fee structure
- Inactivity fee
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $2.2 | - | - | $38.3 |
| Vodafone benchmark fee | $17.9 | - | - | - | $38.6 |
| EURUSD benchmark fee | $23.0 | - | $13.8 | $19.4 | $57.9 |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#1 Interactive Brokers
Account opening
3 stars
The account opening process is fully digital, but slow and complicated.
- Fully digital account opening
- No minimum deposit for most accounts
- Slow account opening
- Not user-friendly
- Confusing messages throughout the process
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $500 | $0 | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1-3 days | 1-3 days | >3 days |
#1 Interactive Brokers
Deposit and withdrawal
2 stars
Interactive Brokers offers a lot of base currencies and one withdrawal per month is free. On the negative side, only bank transfer is available.
- Several account base currencies
- No charge for the first withdrawal each month
- Credit/Debit card deposit and withdrawal not available
- Slow funding and withdrawal - over 3 days
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | Yes | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $35 | $0 | $35 | $0 |
#1 Interactive Brokers
Markets and products
5 stars
Interactive Brokers allows you access to a very wide range of markets and you can trade with all product types. IB's product range is the widest available.
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | No | No | Yes |
| ETF | Yes | Yes | No | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Fund | Yes | Yes | No | No | Yes |
| Bond | Yes | No | No | No | No |
| Options | Yes | Yes | No | No | Yes |
| Futures | Yes | Yes | No | No | Yes |
| CFD | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | No | Yes |
#1 Interactive Brokers
Web trading platform
4 stars
The Interactive Brokers web platform is simple and easy to use, even for beginners. On the negative side, it is a bit complicated to customize.
- User-friendly
- Clear fee report
- Two-step (safe) login
- Limited customizability (for charts, workspace)
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#1 Interactive Brokers
Verdict
IB is one of the biggest discount US brokers regulated by top-tier regulators. If you like low-cost trading and easily navigate on a really complicated platform, Interactive Brokers is for you. We mainly recommend IB for traders.
It has low trading fees, a wide range of product portfolio, and diverse research tools.
On the flip side, only bank transfer is available for deposit and withdrawal. The account opening and the desktop platform are not user-friendly and complicated.
Interactive Brokers is definitely recommended if you want low fees, a lot of products and you are experienced to cope with a complicated platform.
| Interactive Brokers | |
|---|---|
| Summary | Interactive Brokers is a US discount broker. IB is listed on stock exchange and regulated by several authorities, like the top-tier FCA and SEC. |
| Fees score | |
| Recommended for | Traders who prefer low fees and a professional trading environment |
#2 Best international online brokers for citizens in Canada
Tradestation
4.4
4 stars
TradeStation is a US broker with a long history dating back to 1982. Its parent company, the Monex Group is listed on the Tokyo stock exchange.
TradeStation is considered safe as it is regulated by a top-tier regulator, the US FINRA. Clients are eligible for the SIPC investor protection scheme which offers up to $500,000 (cash up to $250,000) per account.
Recommended for traders wanting great research tools and preferring the us markets
- Great mobile trading platform
- Wide range of reserach tools
- High-quality educational tools
- Not user-friendly deposit and withdrawal
- No forex
- Bad customer service
#2 Tradestation
Fees
4 stars
TradeStation has low trading fees and there are multiple fee structures to choose from. Non-trading fees, like inactivity fees are high.
- Low trading fees
- More fee structures you can choose from
- High non-trading fees
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $2.2 | - | - | $38.3 |
| Vodafone benchmark fee | $17.9 | - | - | - | $38.6 |
| EURUSD benchmark fee | $23.0 | - | $13.8 | $19.4 | $57.9 |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#2 Tradestation
Account opening
4 stars
TradeStation account opening is fully digital and user-friendly. On the other hand, it takes more days until your account is approved.
- Fully digital account opening
- User-friendly
- Slow account opening
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $500 | $0 | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1-3 days | 1-3 days | >3 days |
#2 Tradestation
Deposit and withdrawal
2 stars
TradeStation deposit and withdrawal can be improved. As a plus, the deposit is free. However, you can use only bank transfer and there is a high, $35 withdrawal fee.
- No deposit fee
- Credit/Debit card deposit and withdrawal not available
- Not user-friendly
- High withdrawal fee (for non-US clients $35 /tansaction)
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | Yes | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $35 | $0 | $35 | $0 |
#2 Tradestation
Markets and products
2 stars
TradeStation gives you access to a wide variety of US products. However, its non-US offer is not competitive. The forex, CFDs and cryptos are missing.
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | No | No | Yes |
| ETF | Yes | Yes | No | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Fund | Yes | Yes | No | No | Yes |
| Bond | Yes | No | No | No | No |
| Options | Yes | Yes | No | No | Yes |
| Futures | Yes | Yes | No | No | Yes |
| CFD | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | No | Yes |
#2 Tradestation
Web trading platform
4 stars
TradeStation has a good web trading platform. It is user-friendly with and looks nice. It also offers a great order management. On the flip side, it lacks the alerts and the clear fee reports.
- User-friendly
- Good customizability (for charts, workspace)
- Good variety of order types
- No clear fee report available
- No price alerts
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#2 Tradestation
Verdict
TradeStation is a great US broker.
The mobile platform is very user-friendly with many functions. It also offers great research tools, including a wide range of analytical tools. Lastly, education is well-structured and high-quality.
On the other hand, the deposit and withdrawal are not user-friendly and you can use only bank transfer. It lacks many asset classes, e.g. forex or CFDs. The customer service can be improved as the response time at email and chat support are very slow.
Feel free to try TradeStation if you prefer Recommended for buy and hold investors with any experience level.
| Tradestation | |
|---|---|
| Summary | TradeStation is a US stockbroker regulated by FINRA, the top-tier US regulator. |
| Fees score | |
| Recommended for | Traders wanting great research tools and preferring the US markets |
#3 Best international online brokers for citizens in Canada
FXCM
4.3
4 stars
Best technical tools
FXCM, or Forex Capital Market, is a London-based forex broker that also offers some CFDs. FXCM was established in 1999 and has two main shareholders: Jefferies Financial Group and Global Brokerage. Both parent companies are listed on stock exchanges.
FXCM is considered safe, as it is regulated by top-tier financial authorities, like the UK FCA and the Australian ASIC.
FXCM is a forex and CFD broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex traders looking for easy account opening, funding, and withdrawal processes
- Low trading fees and financing rates
- Good technical research tools
- Fast and straightforward account opening
- Limited product portfolio
- Poor mobile platform
- Poor desktop trading platform
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73.62% of retail CFD accounts lose money
#3 FXCM
Fees
4 stars
FXCM offers low trading fees and average non-trading fees.
- Low trading fees
- No withdrawal fee
- Low financing rate
- Transparent fee structure
- Inactivity fee
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $2.2 | - | - | $38.3 |
| Vodafone benchmark fee | $17.9 | - | - | - | $38.6 |
| EURUSD benchmark fee | $23.0 | - | $13.8 | $19.4 | $57.9 |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
More
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73.62% of retail CFD accounts lose money
#3 FXCM
Account opening
4 stars
The account opening process at FXCM is hassle-free and straightforward. Furthermore, there is no minimum balance requirement.
- Fully digital account opening
- No minimum account balance
- User-friendly
- Account opening takes several days
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $500 | $0 | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1-3 days | 1-3 days | >3 days |
More
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73.62% of retail CFD accounts lose money
#3 FXCM
Deposit and withdrawal
4 stars
There are several options both for deposit and withdrawal. Also, the deposit is free of charge. On the negative side, withdrawal can be slow.
- Credit/Debit card deposit and withdrawal
- No deposit fee
- User-friendly
- Slow funding and withdrawal - over 3 days
- Withdrawal fee for bank transfer can be high
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | Yes | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $35 | $0 | $35 | $0 |
More
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73.62% of retail CFD accounts lose money
#3 FXCM
Markets and products
1 stars
At FXCM you will only have access to some forex, some CFDs, and Bitcoin trading.
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | No | No | Yes |
| ETF | Yes | Yes | No | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Fund | Yes | Yes | No | No | Yes |
| Bond | Yes | No | No | No | No |
| Options | Yes | Yes | No | No | Yes |
| Futures | Yes | Yes | No | No | Yes |
| CFD | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | No | Yes |
More
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73.62% of retail CFD accounts lose money
#3 FXCM
Web trading platform
3 stars
FXCM's trading platform is extremely customizable. It also offers a lot of order types. On the other hand, there is no two-step login and setting alerts is a pain.
- Clear fee report
- Good customizability (for charts, workspace)
- Available in several languages
- No two-step (safe) login
- Setting alerts is complicated
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
More
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73.62% of retail CFD accounts lose money
#3 FXCM
Verdict
FXCM has low trading fees and financing rates. Its technical research tools are high quality and well organized. It also offers fast and straightforward account opening.
However, FXCM only offers forex, some CFDs and cryptos. Their mobile and desktop trading platforms need an update, as they are outdated and not user-friendly.
Feel free to try FXCM. There is no minimum deposit, and the inactivity fee only kicks in after a year.
| FXCM | |
|---|---|
| Summary | FXCM is a UK-based forex broker offering forex and CFD trading. FXCM is regulated by the UK FCA and the Australian ASIC. |
| Fees score | |
| Recommended for | Forex traders looking for easy account opening, funding, and withdrawal processes |
More
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73.62% of retail CFD accounts lose money
#4 Best international online brokers for citizens in Canada
Oanda
4.2
4 stars
Best API
Oanda is an American FX broker established in 1996. It is considered safe, as it is regulated by top-tier financial authorities, like the UK FCA and the Australian ASIC.
Oanda is a forex and CFD broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex traders that prefer a user-friendly platform and great research tools
- Easy-to-use web trading platform
- Easy and digital account opening
- Powerful research tools
- Only FX, and some CFDs
- Poor customer service
- Pricey withdrawal
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77% of retail CFD accounts lose money
#4 Oanda
Fees
3 stars
Oanda offers low trading fees and high non-trading fees. The withdrawal fee can be really high.
- Low trading fees
- Withdrawal fee
- High financing rate
- Financing rate calculation is non-transparent
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $2.2 | - | - | $38.3 |
| Vodafone benchmark fee | $17.9 | - | - | - | $38.6 |
| EURUSD benchmark fee | $23.0 | - | $13.8 | $19.4 | $57.9 |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
More
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77% of retail CFD accounts lose money
#4 Oanda
Account opening
4 stars
Oanda account opening is hassle-free and straightforward. There is no minimum balance required. On the other hand, the sales team is pushy.
- Fast account opening
- Fully digital account opening
- No minimum account balance
- Sales team pushy
- It can take up to 3 business days
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $500 | $0 | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1-3 days | 1-3 days | >3 days |
More
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77% of retail CFD accounts lose money
#4 Oanda
Deposit and withdrawal
4 stars
You can use many options for both deposit and withdrawal, and the first withdrawal is free for cards. However, the withdrawal can take long and the withdrawal fee can be high.
- Several account base currencies
- User-friendly
- First withdrawal is free for credit/debit cards and electronic wallets
- High withdrawal fee
- Slow funding and withdrawal - over 3 days
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | Yes | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $35 | $0 | $35 | $0 |
More
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77% of retail CFD accounts lose money
#4 Oanda
Markets and products
1 stars
At Oanda, you can trade only forex and some CFDs.
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | No | No | Yes |
| ETF | Yes | Yes | No | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Fund | Yes | Yes | No | No | Yes |
| Bond | Yes | No | No | No | No |
| Options | Yes | Yes | No | No | Yes |
| Futures | Yes | Yes | No | No | Yes |
| CFD | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | No | Yes |
More
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77% of retail CFD accounts lose money
#4 Oanda
Web trading platform
5 stars
The Oanda trading platform is great. It is very user-friendly with great customizability and good search functions. On the other hand, you cannot set price alerts.
- User-friendly
- Good search function
- Good customizability (for charts, workspace)
- No price alerts
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
More
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77% of retail CFD accounts lose money
#4 Oanda
Verdict
Oanda is a good FX broker.
It has a great web trading platform, you will feel comfortable in a very short time. It provides user-friendly and fully digital account opening. Its research tools are powerful, especially its API.
On the other hand, Oanda has a limited product portfolio, only FX and CFDs. The customer support is slow and usually provides irrelevant answers. The money withdrawal fee can be high.
Feel free to try Oanda. There is no minimum deposit, and the inactivity fee only kicks in after two years.
| Oanda | |
|---|---|
| Summary | Oanda is a US forex broker. It is regulated by top-tier regulators, like the UK FCA and the Australian ASIC. |
| Fees score | |
| Recommended for | Forex traders that prefer a user-friendly platform and great research tools |
More
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77% of retail CFD accounts lose money
#5 Best international online brokers for citizens in Canada
Internaxx
3.6
4 stars
Internaxx is a Luxembourg-based online broker specialized in international investors and expats. It was established in 2000. It is regulated by CSSF, the Luxembourg financial regulator.
Internaxx is considered safe because it is regulated by the top-tier Luxembourg regulator, it has a banking license, and the investor protection amount is high.
Recommended for buy and hold investors with bigger amounts to invest
- Great research by Morningstar
- Outstanding investment fund offering
- Banking license and high investment protection
- High fees
- Slow and not fully digital account opening
- Limited education materials
#5 Internaxx
Fees
1 stars
Internaxx offers high trading fees and average non-trading fees. It has an easy to understand fee structure.
- Transparent fee structure
- High trading fees
- Inactivity fee
- High financing rate
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Apple benchmark fee | $2.2 | $2.2 | - | - | $38.3 |
| Vodafone benchmark fee | $17.9 | - | - | - | $38.6 |
| EURUSD benchmark fee | $23.0 | - | $13.8 | $19.4 | $57.9 |
All spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks, and $20k for FX
#5 Internaxx
Account opening
1 stars
You can open an account without a required minimum amount. However, the process is not fully digital, you need to submit the docs by post.
- No minimum account balance
- Slow account opening
- Not fully digital
- Not user-friendly
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $500 | $0 | $0 | $0 |
| Time to open account | 1-3 days | 1-3 days | 1-3 days | 1-3 days | >3 days |
#5 Internaxx
Deposit and withdrawal
3 stars
At Internaxx you can have your account in 9 different currencies. This is convenient. On the other side, you can deposit and withdraw only via a bank transfer.
- Free withdrawal
- No deposit fee
- Several account base currencies
- Credit/Debit card deposit and withdrawal not available
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | Yes | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $35 | $0 | $35 | $0 |
#5 Internaxx
Markets and products
2 stars
At Internaxx you can trade with almost all asset classes except for bonds. You will have access to a great investment fund list while other asset classes are mid-range.
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | No | No | Yes |
| ETF | Yes | Yes | No | No | Yes |
| Forex | Yes | No | Yes | Yes | Yes |
| Fund | Yes | Yes | No | No | Yes |
| Bond | Yes | No | No | No | No |
| Options | Yes | Yes | No | No | Yes |
| Futures | Yes | Yes | No | No | Yes |
| CFD | Yes | No | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | No | Yes |
#5 Internaxx
Web trading platform
3 stars
Internaxx has a well-designed and user-friendly web trading platform. However, it lacks the customizability, the two-step login and order types are limited.
- User-friendly
- Innovative functions (i.e. Chatbot)
- Looks nice
- No two-step (safe) login
- Limited order types
- No order confirmation
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Web platform score | |||||
| Mobile platform score | |||||
| Desktop platform score | - |
#5 Internaxx
Verdict
Internaxx is a safe broker from Luxembourg. It concentrates on funds and stocks, but you can trade with almost all derivative asset classes on a separate platform operated by Saxo Bank. You will also like their research tools provided by Morningstar, a professional research company. Internaxx's banking license ensures a tougher regulation and a higher than average investor protection amounts.
On the other hand, Internaxx’s trading fees are expensive and have a high inactivity fee. Account opening is not fully digital and therefore sluggish. You should expect only a couple of written educational materials and you can deposit your account only via a bank transfer.
Choose Internaxx if you are an investor with higher amounts to invest and you want a broker from a top-tier financial jurisdiction.
| Internaxx | |
|---|---|
| Summary | Internaxx is a Luxembourgish broker. It has a banking background and is regulated by CSSF, the Luxembourg financial regulator. |
| Fees score | |
| Recommended for | Buy and hold investors with bigger amounts to invest |
Best international online brokers for citizens in Canada
What makes a good online broker
Now you know the top 5. You are probably curious about how we came up with this list. Let's go through a few points quickly. What is an online broker? Why do we think these brokers are safe? What are the most important factors when selecting the best online brokers?
What is an online broker?
Thirty years ago if you wanted to buy a stock, you had to pick up the phone and call your broker, who executed the transaction in return for a commission. Brokers were like in the Wolf of Wall Street movie. They were checking the stocks' prices while holding a telephone and shouting. Everything changed after the internet appeared. Nowadays if you want to buy Apple shares, you open online an account, deposit money, and make the order through the brokers' online platform. These brokers are the online brokers. Online brokers help you buying and selling securities, like stocks. After making your order, the online broker executes it immediately. Everything is online.
Are these brokers safe?
Yes, they are considered safe. You can be sure none of them is a scam. They are regulated by top-tier regulators. Some of them are also listed on an exchange, and some have a banking background.
However, also brokerage companies can go down. Remember Lehman Brothers? In these cases, it is important to know what happens with your securities and cash. These are usually held in segregated accounts, so even in case of a broker bankruptcy, you are safe.
If everything goes very bad and for example, the broker steals your assets, then you have a last resort, the compensation fund of the country where the broker is regulated.
How did Brokerchooser pick the best international online brokers for a citizen in Canada?
At Brokerchooser we test online brokers along ~100 criteria, with a real account and real money. Not to overwhelm you we list the five most important criteria.
The 5 most important criteria for online brokers are:
| 1. Fees | The trading fee of a typical US equity trade can be 50 times higher at one online broker compared to another. Worth to check the fees. |
| 2. Account opening | Some online brokers require a minimum to invest, others don't set a minimal first-time deposit. Check out what the best online brokers require. |
| 3. Deposit and withdrawal | Transferring money to your account can be 5 times longer and more expensive at one online broker compared to another. |
| 4. Products and markets | You want to invest in Amazon and Bitcoin? They might not be available. Check the product coverage before opening an account. |
| 5. Trading platform | A user-friendlyAand well-equipped trading platform can significantly increase your trading comfort. |
Best international online brokers for citizens in Canada
Bottom line
You saw the details, now let's zoom out. Here are the best international online brokers of 2019 for citizens in Canada:
| Interactive Brokers | Tradestation | FXCM | Oanda | Internaxx | |
|---|---|---|---|---|---|
| Overall score | 4.8 | 4.4 | 4.3 | 4.2 | 3.6 |
| Award | Best online broker | Best technical tools | Best API | ||
| Fees score | |||||
| Account opening score | |||||
| Deposit and withdrawal score | |||||
| Markets and products score | |||||
| Web platform score | |||||
| Visit broker | Visit broker |
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73.62% of retail CFD accounts lose money |
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77% of retail CFD accounts lose money |
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Interactive Brokers is our winner, the best in 2019. Broad product portfolio. Low fees. Great and diverse research tools.
All brokers are considered safe, and a great choice. Pick the winner, or any runner-up and take the next step in your investment journey. Let us know what you think in the comment section.
Still unsure? Use the broker finder and find the best broker for you.
