Yes, TradeZero platform is available for the Canadian investors. It entered into the Canadian market from February 2022.
TradeZero: An overview
TradeZero is one of the many online trading platforms that was founded in 2015. It was mainly commenced for the non-residents of the United States to have access to the American markets. The platform has some attracting features that lure investors across the globe. Let us explore its distinct features.
Features of TradeZero
- Prime focus on short selling
- Commission free trades on shares and Exchange Traded Funds (ETFs)
- Real time data and information available on the web and mobile apps
- Trading between 4am and 8pm
- Round the clock customer service
- Free limit orders
- High day trading leverage upto 6:1
- Availability of ZeroPro, ZeroWeb, ZeroFree and ZeroMobile trading platforms.
- Smooth trading experience
Is the TradeZero trading platform available in Canada?
The platform was first christened in the Bahamas in 2015. In the year 2019, it expanded its wings to the United States. From February 2022 TradeZero becomes available to Canadian investors. It received its approval from the Investment Industry Regulatory Organisation of Canada (IIROC). IIROC is a non-profit organisation that supervises all the investment dealers and brokers in Canada. It also has an eye on the trading activities.
TradeZero Platform for the Canadians
It is to be noted that one of the drawbacks to the platform is that there are many alternatives, such as Wealthsimple, Questrade, RBC, Scotia iTrade etc., in the Canadian markets. Most of the Canadian investors would already have an account with one of the alternatives. The team has to work hard to lure new customers to open an account with TradeZero and to attract the existing investors to transfer funds to their platform, in order to become profitable. The recent introduction of the platform in the Canadian markets is thus a challenge to the platform.