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Is IC Markets available in Canada?

IC Markets won't let you open an account if you live in Canada - but there are other investment services that will.

Choosing a way to invest your money can be tough, and the growing popularity of online investment companies gives you even more choices. Popular Australian investment provider, IC Markets, offers access to award-winning trading platforms (MetaTrader 4 & 5 and cTrader), a huge range of forex and CFD trading options and incredibly low spreads starting from 0.0 pips.

But can you take advantage of IC Markets if you live in Canada? Are there any competitive alternatives for Canadian investors?

Is IC Markets available in Canada?

IC Markets logoUnfortunately, no. IC Markets currently does not accept clients from Canada, the US, Israel or Iran. The company used to be open to Canadian investors until the Investment Industry Regulatory Organization of Canada (IIROC) introduced regulatory changes that made it more challenging for international investment providers to remain on the Canadian market.

So, if you live in Canada, you’re out of luck. As of the time of writing, IC Markets has not announced any plans to begin offering services to Canadian clients.

Are there alternatives to IC Markets in Canada?

Yes. There are a number of investment companies in Canada that offer low fees, valuable market research tools and access to a wide variety of financial instruments including forex, commodities, stocks, bonds, indices, ETFs, futures, cryptocurrency and more.

Check out our reviews on these IIROC-regulated alternatives to IC Markets in Canada:

Forex trading platforms

Forex (foreign exchange) trading is suitable for investors with some level of experience given the complexity of monitoring currency values. But, because the global forex market is open round-the-clock (unlike the stock market), there is plenty of opportunity to buy and sell, making this financial instrument particularly alluring to all different kinds of investors.

You may not be able to trade forex using IC Markets, but you can using other popular companies that provide access to the forex market in Canada. Compare some of your options below:

1 - 1 of 1
Name Product Minimum Opening Deposit Commission Available Markets Platforms
Forex.com
US$100
Minimum US$25
Forex
Metals
Commodities
Indices
Shares
Forex.com Desktop, Forex.com Web Trading, Forex.com Mobile Trading, MetaTrader 4
CFDs are leveraged products which involves greater risk than using cash resources only. You could lose all or more of your initial investment. Trade 80+ currency pairs and 220+ CFDs in equities, commodities and indices on Forex.com.
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1 - 5 of 5
Name Product Finder Rating Available Asset Types Stock Trading Fee Account Fee Signup Offer Table description
National Bank Direct Brokerage
Finder Rating:
★★★★★
4.2 / 5
Stocks, Bonds, Options, Mutual Funds, GICs
$0
$0 if conditions met, or $100
Get $0 commission on all transactions with promo code: finder
CIBC Investor's Edge
Finder Rating:
★★★★★
3.8 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs
$4.95–$6.95
$0 if conditions met, or $100
N/A
An easy-to-use platform with access to a variety of tools to help you trade with confidence.
Interactive Brokers
Finder Rating:
★★★★★
4.3 / 5
Stocks, Bonds, Options, ETFs, Currencies, Futures
min $1.00, max 0.5%
$0
N/A
Winner for Best Overall Broker in the Finder Stock Trading Platform Awards.
Questrade
Finder Rating:
★★★★★
4.3 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
$4.95 - $9.95
$0
Get $50 in free trades when you fund your account with a minimum of $1,000.
Opt for self-directed investing and save on fees or get a pre-built portfolio to take out some of the guesswork.
Qtrade Direct Investing
Finder Rating:
★★★★★
3.7 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
$6.95 - $8.75
$0 if conditions met, otherwise $25/quarter
Get up to $150 sign-up bonus. Use promo code BONUS150. Conditions apply. Ends June 30, 2023.
Low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options.
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Robo-advisors

Robo-advisors are a popular alternative to brokerage firms and self-directed investing platforms because of super low costs and the ability to “set and forget” your investments.

Robo-advisors use advanced algorithms to create and automatically rebalance portfolios customized to suit your individual financial preferences, risk tolerance and investment goals. Many robo-advisors also come with the option of connecting with real, human professional advisors for additional advice and guidance.

Check out the table below to compare some of Canada’s most popular robo-advisors and read our reviews of each to decide which one is right for you.

How to compare robo-advisors

1 - 3 of 3
Name Product Min. Deposit Funding methods Management fee Available Asset Types
Wealthsimple Invest
$1
Direct deposit, Bank transfer
0.40%–0.50%
Stocks
Get a $25 bonus when you open and deposit $500 in your account – Trade and Cash accounts are not eligible.
Questwealth Portfolios
$1
Direct deposit, Bank transfer
0.20% - 0.25%
Stocks, Bonds, ETFs, Commodities
A robo-advisor offering low fee portfolios that are actively managed and dynamically rebalanced when market conditions change.
Moka
$0
Automatic bank withdrawals
$3.99/month
ETFs
The Moka app rounds up every purchase you make to the nearest dollar and invests the spare change into low-cost exchange-traded funds (ETFs).
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Cryptocurrency exchanges

There are a ton of exchanges that let you buy and sell crypto in Canada. Popular Canadian-based companies include Coinberry, Bitbuy and NDAX, but you can also trade on well-known international platforms like Kraken, Coinbase and Binance. Use the table below to compare platforms, so you can find the right one for you.

1 - 5 of 15
Name Product Deposit methods Fiat Currencies Cryptocurrencies Offer Disclaimer
Kraken Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Apple Pay, Google Pay, SWIFT
USD, EUR, CAD, AUD, GBP, CHF, JPY, AED

188
cryptocurrencies

Certain trading features are limited or unavailable to residents of Ontario and Quebec.
OFFER
VirgoCX Cryptocurrency Exchange
Cryptocurrency, Debit card, Interac e-Transfer, Wire transfer
CAD, USD

71
cryptocurrencies

Get a $20 bonus when you open a new account and deposit $100+. T&Cs apply.
Bybit Cryptocurrency Exchange
Bybit Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, P2P
USD, AUD, CAD, EUR, GBP, NZD, HKD, JPY, SGD, PHP

376
cryptocurrencies

Highly volatile investment product. Your capital is at risk. Bybit is not available to residents of Ontario or Quebec.
OFFER
Bitbuy Digital Currency Exchange
Cryptocurrency, Interac e-Transfer, Wire transfer
CAD

23
cryptocurrencies

Limited time only: Free $40* when you sign up and fund your Bitbuy account. T&Cs apply.
OFFER
NDAX Cryptocurrency Trading Platform
Cryptocurrency, Interac e-Transfer, Wire transfer, Bank draft
CAD

32
cryptocurrencies

Get a $15 bonus when you open an account and deposit at least CAD$100. T&Cs apply.
Disclaimer: Star ratings are only displayed for products with 10 or more reviews.
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Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Compare cryptocurrency exchanges

What features should I look for in an investment company?

There’s no investment platform that’s right for everyone, and each comes with its own features, fees, pros and cons. Consider the following points when shopping around to find the right investment service for your needs:

  • Is there a minimum upfront investment?

If you’re just starting out, chances are you don’t have much to invest upfront. Or perhaps you have accumulated savings and are ready to make it grow faster. Newbies may find themselves drawn to investment companies with low barriers to entry including low (or even $0) upfront investments. Companies that require higher minimum investment amounts are often for investors with some level of experience or who have sizeable portfolios to manage.

  • Will your investments be managed for you, or do you have to monitor your own portfolio?

If you have some investing experience and enjoy getting your hands dirty tracking stock prices and following the latest business news, you might prefer a little more autonomy in managing your investments. However, if you’re still getting your feet wet and don’t understand all of your options, having securities selected for you based on your own risk-tolerance, financial goals and personality can be enormously helpful. That’s where robo-advisors shine.

  • What are the trading fees? For managed funds, what is the MER?

Most platforms charge a fee every time you buy and sell stocks. Over time and after many trades, this can add up. If you’re investing in mutual funds or other professionally-managed investment pools, you’ll be charged a fee that encompasses both trading costs and management expenses. This fee is known as a management expense ratio, or MER. The lower the MER, the faster your money will grow.

  • Are there any monthly or yearly account maintenance fees?

Some investment companies charge no account maintenance fees, drawing profits instead from trading fees, commissions and other forms of revenue. Other companies waive monthly fees if you keep up a certain level of trading activity or earn a certain amount on your investments within a given time period. Some companies prefer to keep things simple with a predictable monthly fee. Check out online reviews and read the fine print of your investment agreement to make sure you know what costs to expect.

  • What kind of professional help or customer support is available if you need it?

Customer service might sound like a less-interesting facet of an investment company. But don’t underrate its importance. When you want to take advantage of market trends and every passing second affects the value of an investment, having round-the-clock, on-demand service from company representatives can be crucial. Even if you aren’t independently managing your investments, it can be frustrating to be limited by short customer service hours or under-trained representatives when you need to ask a question or make a request.

Online stock trading

Compare online trading platforms

1 - 5 of 5
Name Product Finder Rating Available Asset Types Stock Trading Fee Account Fee Signup Offer Table description
National Bank Direct Brokerage
Finder Rating:
★★★★★
4.2 / 5
Stocks, Bonds, Options, Mutual Funds, GICs
$0
$0 if conditions met, or $100
Get $0 commission on all transactions with promo code: finder
CIBC Investor's Edge
Finder Rating:
★★★★★
3.8 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs
$4.95–$6.95
$0 if conditions met, or $100
N/A
An easy-to-use platform with access to a variety of tools to help you trade with confidence.
Interactive Brokers
Finder Rating:
★★★★★
4.3 / 5
Stocks, Bonds, Options, ETFs, Currencies, Futures
min $1.00, max 0.5%
$0
N/A
Winner for Best Overall Broker in the Finder Stock Trading Platform Awards.
Questrade
Finder Rating:
★★★★★
4.3 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs, International Equities, Precious Metals
$4.95 - $9.95
$0
Get $50 in free trades when you fund your account with a minimum of $1,000.
Opt for self-directed investing and save on fees or get a pre-built portfolio to take out some of the guesswork.
Qtrade Direct Investing
Finder Rating:
★★★★★
3.7 / 5
Stocks, Bonds, Options, Mutual Funds, ETFs, GICs
$6.95 - $8.75
$0 if conditions met, otherwise $25/quarter
Get up to $150 sign-up bonus. Use promo code BONUS150. Conditions apply. Ends June 30, 2023.
Low trading commissions and an easy-to-use platform with access to powerful tools and a wide selection of investment options.
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1 - 3 of 3
Name Product Min. Deposit Funding methods Management fee Available Asset Types
Wealthsimple Invest
$1
Direct deposit, Bank transfer
0.40%–0.50%
Stocks
Get a $25 bonus when you open and deposit $500 in your account – Trade and Cash accounts are not eligible.
Questwealth Portfolios
$1
Direct deposit, Bank transfer
0.20% - 0.25%
Stocks, Bonds, ETFs, Commodities
A robo-advisor offering low fee portfolios that are actively managed and dynamically rebalanced when market conditions change.
Moka
$0
Automatic bank withdrawals
$3.99/month
ETFs
The Moka app rounds up every purchase you make to the nearest dollar and invests the spare change into low-cost exchange-traded funds (ETFs).
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1 - 1 of 1
Name Product Minimum Opening Deposit Commission Available Markets Platforms
Forex.com
US$100
Minimum US$25
Forex
Metals
Commodities
Indices
Shares
Forex.com Desktop, Forex.com Web Trading, Forex.com Mobile Trading, MetaTrader 4
CFDs are leveraged products which involves greater risk than using cash resources only. You could lose all or more of your initial investment. Trade 80+ currency pairs and 220+ CFDs in equities, commodities and indices on Forex.com.
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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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