National Bank Direct Brokerage
- $0 commission on ETFs and stocks
- Wide range of assets, accounts and tools
- Newly designed mobile app
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Individuals in Canada have several options when it comes to stock trading platforms. But which are the best?
That’s where we come in.
Finder compiled the six best stock trading platforms in Canada to simplify your research as you look for the trading platform that best suits your needs and investing goals.
The picks below are based on the results of the Finder Awards, which were launched to honour the best and most innovative finance products in Canada. Awards are completely unpaid and based on a data-driven methodology that seeks to fairly compare brands and products in categories like credit cards, stock trading and cryptocurrency.
The Finder Stock Trading Platform Awards recognizes top brokers in Canada for self-directed investors. In 2022, 18 brokers were scrutinized across 630 data points, and winners were awarded across 10 categories.
Interactive Brokers is the winner for Best Overall Broker in the 2022 Finder Stock Trading Platform Awards, and for good reason. This low-cost, all-inclusive broker offers global market access and numerous trading platforms for traders of different experience levels — from the simple, beginner-friendly IBKR GlobalTrader to its professional-grade desktop platform, Trader Workstation. This, along with its extensive range of tradable securities and its robust research, tools and educational resources, allows users to learn, grow and evolve as traders.
|Google Play app reviews||4.6/5 stars based on over 10,600 reviews|
|Apple App Store app reviews||4/5 stars based on over 3,200 reviews|
CIBC Investor’s Edge is both easy to use and packed full of useful research tools and features. Aside from stocks and ETFs, its extensive range of tradable assets also includes bonds, options, GICs, mutual funds and precious metals. If you’re an active trader, young investor or student, you’ll benefit from discounted trades.
|Google Play app reviews||3.4/5 stars based on over 4,500 reviews|
|Apple App Store app reviews||3.6/5 stars based on over 5,100 reviews|
CI Direct Trading is a great all-around share trading platform because it offers low fees and a long list of tradable securities. In addition to Canadian and US stocks and ETFs, get access to options, bonds, GICs, mutual funds and futures. Plus CI Direct Trading offers a demo account to sharpen your trading strategy.
|Google Play app reviews||No reviews|
|Apple App Store app reviews||2.4/5 stars based on over 55 reviews|
Questrade stands out from the competition for its favorable trading fees, which are lower than many big banks and private brokers. It offers low stock and ETF trade fees, an impressive list of investment options and account types and user-friendly web and mobile platforms. Those looking to fine tune their trading strategies can use the Questrade practice account, which provides virtual currency for trading and access to the platform’s full suite of features.
|Google Play app reviews||2.1/5 stars based on over 2,700 reviews|
|Apple App Store app reviews||1.3/5 stars based on over 60 reviews|
Among the best trading platforms in Canada is Desjardins Online Brokerage, which offers commission-free stock, ETF and mutual fund trades. All this on a user-friendly platform that’s rich with educational resources and free research and analysis tools.
|Google Play app reviews||No reviews|
|Apple App Store app reviews||4.6/5 stars based on over 1,100 reviews|
Scotia iTRADE’s user-friendly platform offers an impressive collection of research tools and investment options, as well as a practice account to help you hone your investing and trading skills. For traders 26 years old and under, Scotia iTRADE waives its $25 inactivity fee and $100 RSP account administration fee.
|Google Play app reviews||4/5 stars based on over 469,000 reviews|
|Apple App Store app reviews||4.2/5 stars based on over 4.1 million reviews|
Finder’s picks for the best trading platforms in Canada is meant to provide you with a starting point for finding the right broker for you. That said, it’s important to consider your personal preference and individual investing goals too.
Consider the following factors when comparing your options:
From trading fees to miscellaneous fees, it’s important to understand the cost to trade and invest. Consider which investment products you plan to trade and the fees that apply, but also be mindful of any back-end fees such as inactivity fees or transfer fees that can also eat into any profit you make.
There’s no sense in opening an account with a broker that doesn’t offer the assets you want to trade. Stocks and ETFs are standard, but what if you want to expand into options, mutual funds or crypto?
The type of account in which you want to invest plays an important role in achieving your investing goals. Nontaxable accounts such as retirement accounts provide tax incentives to investors, while taxable accounts don’t have contribution limits.
In-house research and tools simplify investing, as you don’t have to venture elsewhere to make an informed decision about an investment. If you’re a passive index investor, extensive research and analysis tools may not matter all that much. Active stock pickers may feel otherwise.
Mobile trading is more popular than ever, allowing you to trade and invest from anywhere. Check out what current or previous customers have to say about the functionality of the platform.
While it may not make sense to choose a broker solely based on whether or not they offer a signup bonus, a new customer incentive such as a free stock may be enough to help you choose one broker over another if all else is equal.
The best trading platform in Canada based on Finder’s data-driven awards methodology is Interactive Brokers, for it offers numerous trading platforms and investment options, low fees, and access to global markets, among other benefits.
CIBC Investor’s Edge, CI Direct Trading, Questrade, Desjardins Online Brokerage and Scotia iTrade also topped the list by offering things like low or competitive fees, ample investment options and in-depth resources and tools to help beginners start off on the right foot.
Before you get signup with an online broker, consider these features and drawbacks:
What Matt thinks about trading platforms in Canada
The best trading platforms are the ones that offer a combination of low fees, numerous investment options, a modern trading platform and plentiful resources that help you learn and grow as a trader. But at the end of the day, personal preference matters too.
— Matt Miczulski, Editor
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