If you are a futures trader in Canada, you may have run into a few problems finding a good futures trading brokerage in Canada. The reality is the options are far more limited than our friends to the south.
I’ll say up front this information is just what I’m aware of as options currently. In the future there may be other brokers, or I’m just not aware of an option.
Lastly, futures trading is risky. You can read my full disclosure here.
First – An Alternate To A Canadian Broker
If you are familiar with my site or YouTube at all, you know I’m funded through several online prop firms. Honestly this isn’t just for leverage, it is also in some ways a far easier and more affordable way to access futures trading from Canada.
I won’t go into the full explanation of this avenue here since you want to know about Canadian futures brokerages, but if you’d like to learn more about the world of online futures prop firms, you can read my Recommended Futures Trader Evaluations here. Basically pay a fee to try out, if you meet the criteria they will fund you, and you circumvent having to open your own brokerage account. As well you’ll get access to far more capital than you most likely were going to open an account with.
Short List – My Brokerages Page
Before I get to some details on a few Canadian specific brokerages, you can find a full list of brokerages I am familiar with here: Futures Brokerages – I keep it updated with any information, and address both Canada, USA and USA brokerages that accept Canadians.
Interactive Brokers https://www.interactivebrokers.com/ seems to be the most popular brokerage amongst Canadians. They have it all (not just futures).
The margin rates are pretty high on futures, but I will say I do like that they do it all. Stocks, options, futures, retirement accounts RRSP, TFSA, etc. I started using Interactive Brokers in 2022 and I do have to admit I like them.
RJ Obrien https://www.rjobrien.ca/ is another option. I am even less familiar with their operation, but I’ve been told their commission rates are pretty high. As well they don’t really have much information about the margins available so I have no idea honestly. If you are a customer feel free to reach out to me and give me the information about commissions, account minimums and margin rates and I can include it here.
Other Canadian Futures Broker Options – Not The Most Reputable
I’ve researched other options in the past, but they looked pretty sketchy honestly and I don’t even want to list them and send someone down that road. Just know there are others but really research who you trust with your money.
US Brokerages That Accept Canadians
Honestly, this is the avenue I would be looking at. I have the full list that I know of and some I can recommend on my Brokerages Page but for a quick summary:
AMP Futures https://www.ampfutures.com/ very reputable, low commissions and margins. They accept all provinces except BC and Alberta (as of July 2021). I would definitely go this route if you don’t live in those 2 provinces.
Optimus Futures https://optimusfutures.com/ – Optimus is basically a middle man who will match your needs with the best brokerage. They are very reputable as well, and will work with you to help you find the best option.
Cannon Trading https://www.cannontrading.com – I’ve been told they accept Canadians and will match AMP commission rates if you show them a statement. As well they allow you to trade multiple accounts and have the trades mirrored Sierra Charts (possibly other software also, unsure).
Global Futures (GFF Brokers) https://www.gffbrokers.com/ – As well a great option for those who use NinjaTrader
I have a few others on my Brokerages Page as well that effectively do the same as Optimus.
The caveat I have with the USA Brokerages is for people concerned about financial and regulatory laws. I’ve been told that some people just would much rather work with a brokerage that is based in their country (ie. Canadians want a Canada based futures broker). I perfectly understand this. Myself I don’t have any qualms against working with USA brokerages, but I just wanted to put that out there.
Canadians have it tough when it comes to trading futures with a broker. Limited choices, high margins and high initial balance requirements. Personally I recommend Interactive Brokers if you live in Canada. While yes the margin rates are high, they really are a one stop shop for anything investing.
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Additional Articles I’ve Written Related To Futures Trading and Canada
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure:
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
You can read more here: Risk Disclosure
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