Finder Award
Interactive Brokers
- Access to international stock exchanges
- Low margin rates
- Powerful research tools
National Bank Direct Brokerage
- Commission-free trading
- Several account types available
- Access to array of research tools
The 9 best stock trading platforms in Canada
There are a lot of different trading platforms available if you plan to start stock trading. There are many things to consider when choosing a stock trading app to buy and sell stocks and other securities. We’ve rounded up Canada’s leading stock trading platforms for you to help you find the one that suits your profile best. We’ve compared fees, features and technology to help you find the best stock trading app in Canada and we’ve also covered how to choose one.
Best stock trading platform for trading commodity stocks
- Go with this platform if you are an active trading looking for a more in-depth platform.
- Look elsewhere if you are not an active trader and have an account balance less than $10,000.
| Stock Trading Fee | $4.99–$9.99 |
|---|---|
| Account Fee | $0 |
| FX Fee | Varies |
| Min. Deposit | $0 |
Best stock trading platform for beginner traders
- Go with this platform if you want to trade on a bank platform for the lowest commission of the Big 5 Canadian banks.
- Look elsewhere if you want to avoid annual fees.
| Stock Trading Fee | $4.95–$6.95 |
|---|---|
| Account Fee | $100 |
| FX Fee | Varies |
| Min. Deposit | $0 |
Best stock trading platform for trading international stocks
- 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.
| Stock Trading Fee | Max. 0.5% |
|---|---|
| Account Fee | $0 |
| FX Fee | 0.2 bps trade value, min $2.00 |
| Min. Deposit | $0 |
Best stock trading platform for low cost with perks
Questrade
Get $50 in free trades when you fund your account with a minimum of $1,000.
Finder rating: 4.3 / 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.
| Stock Trading Fee | $4.95-$9.95 |
|---|---|
| Account Fee | $0 |
| FX Fee | 1.45% |
| Min. Deposit | $1,000 |
Best stock trading platform for a well-rounded trading experience
Qtrade Direct Investing
Get up to $150 sign-up bonus. Use promo code BONUS150. Conditions apply. Ends June 30, 2023.
Finder rating: 3.7 / 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).
| Stock Trading Fee | $6.95 - $8.75 |
|---|---|
| Account Fee | $0 - $25 |
| FX Fee | 0.90% for positions under $9,999.00 |
| Min. Deposit | $0 |
Best stock trading platform for an easy-to-use online interface
- 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 don't want to pay an annual fee to maintain your account.
| Stock Trading Fee | $9.95 |
|---|---|
| Account Fee | $100 |
| Min. Deposit | $0 |
Best stock trading platform for research
- Go with this platform if you don't plan on making a lot of trades.
- Look elsewhere if you want low fees from a big 5 bank.
| Stock Trading Fee | $0 |
|---|---|
| Account Fee | $0 |
| Min. Deposit | $0 |
Best stock trading platform for a commission free big bank
National Bank Direct Brokerage
Get $0 commission on all transactions with promo code: finder
Finder rating: 4.2 / 5 ★★★★★
- Go with this platform if you want commission-free trading from a Canadian bank.
- Look elsewhere if you want to trade on a mobile app.
| Stock Trading Fee | $0 |
|---|---|
| Account Fee | $100 |
| FX Fee | Varies |
| Min. Deposit | $0 |
Best stock trading platform for free trades
Wealthsimple
Get $25 when you open a Wealthsimple account and fund at least $150.
Finder rating: 3.7 / 5 ★★★★★
- Go with this platform if you are just starting out with investing and want a commission-free option for buying standard securities like ETFs.
- Look elsewhere if you want to trade more complex securities like options.
| Stock Trading Fee | $0 |
|---|---|
| Account Fee | $0 |
| FX Fee | 1.50% |
| Min. Deposit | $0 |
How to find the best trading platform in Canada for your needs
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 stock trading platforms
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 apps 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.
Compare stock trading platforms
1 - 5 of 5
Best stock trading platforms if you want to trade with an online brokerage
Best stock trading platforms if you want to trade with a traditional financial institution
How to switch trading platforms
If you’ve signed up for a platform that doesn’t offer you everything you need, you have options! You may have outgrown your current platform’s functionality and need something more. Or maybe your current platform doesn’t offer you everything you were promised. Or maybe your priorities have changed since you opened your account and first started trading. No matter the reason, you can switch stock brokers once you find one that better suits your needs.
Once you find a broker you like, you can easily transfer your account(s) to switch trading platforms. Usually, you request an institutional transfer through the receiving institution. You can request the transfer to take place one of two ways in order to switch stock brokers:
- In-cash: Your holdings are sold and the cash proceeds are then transferred (within the account) to the receiving institution. This can trigger capital gains, since you are liquidating your position.
- In-kind: Your account remains invested and nothing gets liquidated or sold. The assets are transferred as-is to the receiving institution. However, usually this involves a period of time in which the assets are “frozen” during transit — you aren’t able to sell them while they are in transfer and the assets are therefore immune to market fluctuations (up or down).
Regardless of the method you choose, your funds (or holdings) never leave the account. So transferring a TFSA, for example, does not count as a TFSA withdrawal and will not impact your contribution.
The downside of switching trading platforms is that most brokerages charge a transfer-out fee when you leave them. These fees can run anywhere between $125 to $175 per account. Some institutions will reimburse the transfer fee charged by the relinquishing institution if you transfer over an account worth a certain value.
Frequently asked questions
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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