5 Best Day Trading Courses for Canadians

February 15, 2021 | Editorial Team

Although day trading can be lucrative and profitable, it is also known as being one of the most high-risk forms of trading. Beginner, and even experienced, day traders can easily incur losses and find that they are losing money quickly. Becoming a profitable day trader takes a lot of work, time and commitment.

Day traders need to have a thorough understanding of the different trading strategies and risk management. They also need to understand the technical analysis involved in day trading. Additionally, the need to be able to make good trading decisions quickly and efficiently.

Whether you are a beginner or an experienced day trader, a day trading course can still benefit you. It could give you the trading education to help you succeed.

Choosing a day trading course or a day trading academy can very difficult. Unlike other educational courses, day trading courses are not strictly regulated. Finding courses that are taught by professional traders is an important factor to consider.

The best online trading courses in Canada can vary depending on what type of day trading you are interested in.

To help you make your decision, we have compiled a list of some of Canada’s best day trading courses and the advantages and disadvantages of each. Let’s take a look.

Profit.ly

Profit.ly is a trading website that offers access to trading gurus and allows you to track live trading. They provide advanced technical analysis tools. These help traders track and measure their own and others’ trading performances. Profit.ly has over 150,000 registered traders and investors. Users can interact with the trading community via the chat rooms and share trade ideas and trading experience.

Profit.ly gives you an insight into losses and gains. This allows you to learn from other traders’ mistakes and minimize your own losses and improve your trading streak. You can follow the performance of gurus and other traders by accessing the leaderboard.

Pros

  • Profit.ly offers a transparent leaderboard. You can use the leaderboard to track the trading performances of gurus and other members.
  • If you are interested in penny stocks, Tim Sykes (who is the founder of profit.ly) has made more than $6 million in this area. He uses profit.ly to emphasize the importance of technical chart patterns. He also emphasizes the use of stock catalysts and other trading strategies.
  • Paying for the guru services gives you access to the chat room, trading alerts and training services. This could be beneficial to those who want to learn how to trade.
  • You can choose to trial a free demo account. This enables you to learn about day trading in real-time without risking any money.
  • You can choose the trading platform that best suits you, including desktop and mobile.
  • The analytical tools allow you to track your own trading performance. You can then find the trading style that works best for you.

Cons

  • To access guru services, you will need to pay a subscription cost. Subscription costs begin at $29.95 per month and go up to $74.95 per month.
  • Penny stocks can be a risky trading option. Usually, only experienced traders will succeed at trading penny stocks.

Summary

The aim of Profit.ly is to help users to maximize their winning streaks. They provide members with market intelligence, predicted trends and trading advice. The basic and mid-level guru subscriptions are generally good value. Members can make use of webinars, a library of video lessons, the leaderboard and the chatroom to help improve their day trading skills.

The gurus and advanced traders are usually talented traders, as can be seen by their performances on the trading leaderboards. However, the Pro membership is very expensive and does not offer many more perks than the cheaper subscriptions. If you are looking for trading chat rooms, information and advice to help you learn to trade, Profit.ly could be a good option for you.

Humbled Trader

The Humbled Trader is a Canadian/ Taiwanese Youtube personality and trading expert named Shay. She creates videos and content on Youtube and the Humbled Trader website to teach people about day trading stocks. She offers her expert advice and unbiased opinion about trading options and trading strategies. She aims to provide education for both beginner and more experienced traders.

The Humbled Trader profits from buying stocks. She doesn’t follow trading patterns and instead focuses on price action.

Pros

  • She focuses on trading psychology, discipline and risk management strategies to help you become a proficient day trader.
  • You can access a variety of videos offering day trading advice. The topics include ‘What is Day Trading?’, ‘How to Start Day Trading’ and ‘Where is the Best Place to Put Your Stop Loss’.
  • With more than four million views on Youtube, The Humbled Trader is a popular trading advisor. Her video lessons have helped millions of Canadians.
  • You can access trading articles, trading blogs and trading chatrooms.
  • You can find recommendations of the best trading tools, trading brokerages and platforms.
  • Signing up for the newsletter gives you free access to the weekly watchlist. This will give you a detailed analysis of stocks and the trading market, and the expected price levels for the stocks.
  • The videos are both educational and entertaining.

Cons

  • This is not a comprehensive day trading course. Shay only offers advice on trades that she is interested in. Those looking for more comprehensive training in day trading may be better suited to signing up for a course offered by a trading academy.
  • No recommendations are made about forex trading or swing trading.

Summary

For those looking for a day trading course that offers them a comprehensive, detailed and extensive day trade education, The Humbled Trader may not be the best option for you. However, the videos she makes are free of charge. They also offer unbiased and informative advice about trading stocks on the day market.

The Humbled Trader could be the best online tutor for you, especially for beginner day traders. She can give you advice on entering the day trade market and choosing your trading strategy and investments.

Admiral Markets

Admiral Markets offers Forex Trading 101 – a forex and CFD trading course. Their three-step program aims to teach you everything you need to know about forex and CFD trading. There are nine lessons in total, and they are all available online. This means you can educate yourself on forex trading anytime, anywhere.

Designed as an update to Admiral Market’s previous trading course ‘Zero to Hero’. Forex Trading 101 is a forex trading course designed to help anyone become proficient at trading forex. Each lesson has a video, notes and a follow-up quiz.

Pros

  • The CFD and forex trading courses are completely free of charge.
  • The trading course is available in nine different languages.
  • You can unlock the first three lessons instantly. To unlock the rest of the lessons, all you must do is open a free demo trading account. The demo trading account will also allow you to practice trading strategies and technical analysis. It will also allow you to practice using the trading platform.
  • The lessons are designed by two leading trading experts. Learning from professional and successful traders will give you the best trading knowledge to start your new investment journey.
  • The course is separated into three different sections – beginner, intermediate and advanced.
  • For those with limited experiences, the beginner course will teach you the basics of forex trading. This includes learning about key terms and jargon and helping you to understand the forex market.

Cons

  • This trading course focuses mainly on trading forex. It does not help you with other forms of day trading, such as swing trading, options trading and stock trading.
  • With no chat rooms available, you do not have the opportunity to learn trade ideas or trading strategies from other members.

Summary

This is one of the best trading courses for those who want to learn about trading forex and CFDs without paying a high price. The online trading advice, videos and quizzes add up to a great user experience. However, those interested in day trading courses that educate you on other forms of day trading may be disappointed. You also will not get the same level of information and support compared to a paid-for trading academy or trading course.

Overall, this is one of the best online trading courses at no cost. Whether it is the right one for you depends on what you are looking for.

ATFX Partners

ATFX is an online brokerage and trading platform that also provides forex and CFD training. Their day trading courses are offered to all account holders. They give you access to webinars, seminars, videos and educational tools. ATFX is regularly voted as one of the best day trading platforms available in Canada. Combining the educational online trading academy with the trading platform could simplify your trading experience.

The educational materials are prepared by advanced traders and trading experts. If you are interested in trading forex, ATFX could be a great place to begin your trading education.

Pros

  • They offer a demo account, which is similar to a trading simulator. It allows you to practice day trading in real-time.
  • You will have access to trading webinars and seminars. Experienced and successful traders host these events. You will learn new trading strategies, learn how to avoid trading mistakes and have the opportunity to ask questions.
  • ATFX offers a variety of educational videos. These include platform tutorials, trade ideas and general trading information.
  • ATFX has partnered with Trading Central – one of the best technical analysis resources in the world. Students will be able to access award-winning research and 24-hour global coverage. You will also receive information on exit and entry signals, forecasts and price indicators.
  • You can receive up to date information and live trading advice.
  • You can access free educational resources. These resources include e-books, videos, trading strategies and detailed trading courses.

Cons

  • To access the trading courses, your first need to open a trading account with ATFX. The company does not allow students to access their courses unless they are account holders.
  • The day trading courses are limited to forex and CFDs. There is also less information on day trading strategies, such as futures trading.
  • Their customer services do not rate as highly as some other courses.

Summary

These trading courses are not available to all prospective students. However, those with a trading account with ATFX may find their free educational resources beneficial. The wide array of educational services, including webinars and videos, can help you to become a more successful day trader.

Those looking for a comprehensive program that also offers options such as stock trading courses and options trading courses may not find this as useful. However, this is one of the best day trading courses available for those interested in forex and CFDs.

Responsible Day Trading

Responsible Day Trading (RDT) is an online day trading academy that doesn’t teach you how to trade a specific asset or trade a specific strategy. Instead, RDT focuses on helping you to gain the understanding, experience and confidence to become a successful trader. RDT teaches you all of the relevant terminologies and helps you gain a thorough understanding of the futures market.

They will also teach you how to understand and read trading charts and how to react to the market. RDT chose their name because they are massive advocates for responsible day trading. As day trading is one of the riskiest forms of trading, RDT aims to teach you how to trade responsibly and sensibly.

Pros

  • You can access the intro course free of charge. These are the first ten lessons from the trading course.
  • The course has eight different chapters with a variety of topics. The topics include how to use NinjaTrader8 trading software. Other topics help you with understanding the charts and understanding direction and momentum.
  • There are more than 38 educational videos for students to watch.
  • There are three different coaching packages to choose from – The Start-Up Package, The Total Package and The VIP Package. All three packages offer students lifetime access to the RDT curriculum.
  • There are additional advantages to the more expensive packages. These include lifetime access to The Vault and the Live Group Classes and a 1:1 Zoom call with a trading expert.
  • If you are interested in any of the packages, all you need to do is schedule a call, and a trading expert from RDT will contact you directly. This gives you the opportunity to ask any questions or voice any concerns. They can also help you with any personal finance queries.
  • The education you will receive from RDT’s online trading academy can be applied to any type of day trading. This includes stock trading, swing trading, options trading, trading forex or any other assets trading,

Cons

  • None of the course prices are listed on the website.
  • Unlike other courses, there is no money-back guarantee option with this company.
  • There is no demo account option for you to practice live trading.

Summary

This is one of the best courses available for those looking for an all-around day trading education. The ten free lessons give you an opportunity to see whether RDT is the best educational course for you. RDT is an attractive option for many prospective traders. The variation of the lessons, the number of videos available and the personalized help and support are some of the reasons why.

However, those looking for specific advice about stock trading or the stock market may be better suited to stock trading courses. Popular stock trading courses are those offered by The Stock Whisperer or Tradepro Academy.

The Bottom Line

There are many day trading courses available in Canada. Some courses will focus on day trading stocks; others will be more beneficial to option traders or those interested in swing trading. To help you choose the best day trading course for you, first decide what aspect of day trading you are interested in. For example, if you are interested in the stock market, look at courses that focus on day trading stocks.

Before committing to a course, especially one that you need to pay or subscribe to, first make sure you have read reviews. Also, ensure you check the credentials of those involved. Day trading can be extremely risky. However, if done correctly, day traders can make big financial gains. A day trading course can help you to maximize your profits, reduce your losses and become a successful day trader.