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Find the best stock trading platform in Canada

Ready to start online stock trading? Check out these top 8 picks to find the best stock trading platform in Canada for your needs.

There are many things to consider when selecting the best stock trading platform. We compared fees, features and technology at some of the most popular online trading platforms in Canada.

The 8 best stock trading platforms in Canada

Wealthsimple

Get $25 when you open a Wealthsimple account and fund at least $150.

Finder rating: 3.9 / 5 ★★★★★

  • Go with this platform if you want commission-free trading.
  • Look elsewhere if you want to trade more complex securities like options.

Scotia iTRADE

Finder rating: 3.8 / 5 ★★★★★

  • Go with this platform if if you are a beginner who wants the comfort of a well-established financial brand.
  • Look elsewhere if you want a quality mobile experience.

Interactive Brokers

Finder rating: 4.1 / 5 ★★★★★

  • Go with this platform if you are an experienced investor and want reams of information and fancy analytical tools to help you trade.
  • Look elsewhere if you are a new investor.

CIBC Investor's Edge

Young investors 18 to 24 can get free online trades and a $0 annual account fee (conditions apply)

Finder rating: 4 / 5 ★★★★★

  • Go with this platform if you want to be able to trade a variety of securities and are less concerned about trading commissions.
  • Look elsewhere if you want low fees.

Questrade

Get $50 in free trades when you fund your account with a minimum of $1,000.

Finder rating: 4.2 / 5 ★★★★★

  • Go with this platform if you want low fees and the ability to trade various types of securities.
  • Look elsewhere if you want low fees but you aren't ready to start buying anything other than stocks and ETFs.

Qtrade Direct Investing

Get almost $500 in commission free trades when you fund your new account with a minimum of $10,000. Conditions apply. Ends August 31, 2022. Plus, top up your transfer to $15,000 and Qtrade will cover the transfer fee up to $150.

Finder rating: 4.1 / 5 ★★★★★

  • Go with this platform if you want competitive commissions and access to educational tools and online tutorials.
  • Look elsewhere if you aren't planning to have a minimum of $25,000 in your account or fund it regularly (since you will incur a quarterly fee).

BMO InvestorLine

Finder rating: 3.9 / 5 ★★★★★

  • Go with this platform if you want an easy-to-use platform with low trading commissions and plenty of investment options.
  • Look elsewhere if you want don't want to pay an annual fee to maintain your account.

TD Direct Investing

Finder rating: 3.8 / 5 ★★★★★

  • Go with this platform if you don't plan on making a lot of trades.
  • Look elsewhere if you want low fees.

How we chose the best online brokers in Canada

We’ve chosen the best online stock broker trading platforms on this page based on an independent set of criteria. None of these picks are sponsored – we also take into account providers and cards that we aren’t partnered with – so that our selections are chosen without bias.
We take these factors into account when choosing our top picks:

  • Fees and commissions.
  • Types of securities available.
  • Types of trades supported.
  • Mobile/desktop support and user interface.
  • Additional notable features offered such as research tools, educational resources, practice accounts, etc.

No single trading platform will be the best choice for everyone, so compare your options before picking an online brokerage.

How to find the best stock trading platform in Canada

When searching for the best stock trading platform for you, ask yourself the following questions:

  • What type of stock trader am I? Are you a casual trader, an active trader or an experienced investor? From the user-friendliness of a platform to the level of market research and educational tools that come with your account, it’s important to find an investment service that works with your trading needs.
  • How often will I trade? If you buy or sell shares infrequently — say, 1-2 times per month or less — you’re likely more of a casual investor. With a higher trading frequency comes the need for an online investing platform that offers an affordable tier structure and an extensive range of features.
  • What will I be trading? While stocks are a very commonly-traded security, you may also want to buy and sell other securities such as bonds, currencies, options and futures. Also consider whether you want to trade domestic securities, international securities or a combination of the two.
  • What will it cost me? Besides ongoing management and account maintenance fees, consider trading fees and whether you can get these fees waived or reduced if you satisfy certain criteria.

How to compare the best online stock trading platforms in Canada

Before signing up for a brokerage account, consider factors that include:

  • Fees. This is the big one. Look beyond what trading commissions a platform charges and ask about account minimums, transfer fees and costs for other securities.
  • Available securities. Some platforms offer a wide range of securities, while others specialize in only one or two. Make sure the platform you pick can cater to your trading interests.
  • Research tools. Beginners may want a platform with educational resources, while active traders will need robust analytics tools.
  • Types of trades supported. Consider the options available when you are buying or selling shares. In addition to present-time trades, can you also hedge against risks by placing market orders, limit orders or stop orders?
  • Mobile support. Most trading platforms offer mobile trading support, but applications typically aren’t as robust as the desktop version of the platform. If you prefer to trade on your mobile device, check investor feedback in Google Play and the App Store.
  • Customer feedback. Explore customer feedback in places like the Better Business Bureau and Reddit to find out what investors really think about the platform.
  • Your personal needs. If you’re just a casual investor, do you really need an investment platform that offers a lot of bells and whistles? On the other hand, some platforms aimed at beginner traders may not have all the features an experienced investor needs.
  • Welcome offers. Some online trading platforms, like Wealthsimple and Questrade, offer welcome bonuses to new customers.

How do I compare costs?

Most online trading platforms will either charge you a commission on the trades you make or charge various other service fees. That said, some online stock brokers now let you trade for free, depending on what you are buying or selling.

But as noted above, comparing these costs can quickly become confusing. For example, discounts on the number of trades over a certain amount don’t apply to people making a few trades a year. There are also minimum balance fees and differing commissions depending on the type of security you are buying or selling.

It’s probably best to first decide what kind of investor you want to be. Do you have a lot of money to start investing with? How many trades will you make each year? Are you going to buy securities like ETFs, which people tend to buy and hold? Or are you seeking more complex securities like options and commodity futures?

Disclaimer: The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

I’ve found the best stock trading platform in Canada. How do I open an account?

Once you’ve found the best stock trading platform to make online investments, it’s usually pretty easy to apply to open an account. If the platform is run by your bank and you can access online banking services, you can usually initiate or even complete the application process by logging into your online banking portal. If approved, you’ll likely be able to access online investment services through this portal as well.

When applying for an account with an investment services provider, you’ll typically need to provide the following KYC (know your client) information:

  • Your name, address and contact details
  • Proof of identification (scanned and electronically sent to the investment company) such as a valid driver’s license or passport
  • Proof of your income or the source of the funds that you plan to invest
  • Employment details like where you work, how much you earn and how to contact your employer
  • Proof that you have reached the age of majority in the province in which you live (either 18 or 19 years old)
  • Proof of any any prior financial trading experience (if required). Platforms geared towards more experienced investors may require you to prove that you know what you’re doing, but many platforms are open to brand new investors.
  • Your bank account details to support transfers to and from your regular bank account and your investment account(s)

Once you’ve deposited funds into your account you’re ready to start trading. Note that a minimum deposit amount may apply.

Bottom line

The best stock trading platform for you depends on what kind of investor you are. Before you open an account, be sure to compare basic fees. But also look at what other resources and features a platform offers and how its cost structure matches up with your own trading needs.

Frequently asked questions about stock trading in Canada


Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, 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 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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