Best stock trading apps in Canada

Promoted for Beginners

CIBC Investor's Edge

Go to site

---

• Easy to use platform
• Low fees
• Student and young investor discounts

Best for Lowest Commissions

Finder Award

Interactive Brokers

Go to site

---

• Access to international stock exchanges
• Low margin rates
• Powerful research tools

Promoted for Free Trades

National Bank Direct Brokerage

Go to site

---

• Commission-free trading
• Several account types available
• Access to array of research tools

There are many things to consider when choosing the best stock trading app to buy and sell stocks and other securities. We compared fees, features and technology to help you find the best stock trading app in Canada. Whether you are looking for the best stock trading app for beginners, or you are an advanced trader, check out the list of the best stock trading apps below.

Finder Rating: ★★★★★ 3.7 / 5 Go to site Read review

Wealthsimple

$0
Stock Trading Fee

$0
Account Fee

$0
Minimum Deposit

• Pros and Cons
• More Info
• Details

• Get $25 when you open a Wealthsimple account and fund at least $150.
• No annual fees, no commissions on trades
• Unlimited trades

• Limits on types of securities you can trade, mostly stocks and ETFs
• Quotes are subject to a delay

This is a good stock trading app for beginners who want a low-cost option for buying stocks and standard securities like ETFs. In fact, it is one of the lowest-cost trading options available to Canadians. The app offers educational resources and tools, with items like savings calculators, articles and Investor Masterclass videos to teach you the basics. Get $25 when you open a Wealthsimple account and fund at least $150..
Google Play Store rating: 4.1 stars
Apple App Store rating: 4.7 stars

Asset Types	Stocks ETFs
Minimum Age	18
Stock Trading Fee	$0
Option Trading Fee	N/A
Account Fee	$0
Inactivity Fee	$0
ETF Transaction Cost	Free

Finder Rating: ★★★★★ 3.9 / 5 Read review

BMO InvestorLine

$9.95
Stock Trading Fee

$100
Account Fee

$0
Minimum Deposit

• Pros and Cons
• More Info
• Details

• Ability to trade a variety of securities
• Third-party investment research available to users

• High cost per trade
• Users complained about equity search function not working properly, among other things

Not the cheapest nor most feature-heavy stock trading app available to Canadians, but it achieves a middle ground. You can trade stocks, options, ETFs, mutual funds, GICs and bonds.
Google Play Store rating: 2.4 stars
Apple App Store rating: 1.7 stars

Asset Types	Stocks Bonds Options Mutual Funds ETFs GICs IPOs
Minimum Age	18
Stock Trading Fee	$9.95
Option Trading Fee	$9.95 + $1.25 per options contract
Account Fee	$0 if conditions met, otherwise $25/quarter
ETF Transaction Cost	$0 - $9.95

Finder Rating: ★★★★★ 4.2 / 5 Read review

Scotia iTRADE

$4.99–$9.99
Stock Trading Fee

$0
Account Fee

$0
Minimum Deposit

• Pros and Cons
• More Info
• Details

• Good for beginners that want comfort of well-established financial brand

• Mobile app users weren't impressed with the user interface or the overall speed of the experience

With this app you can reduce your trading costs, but only by making a lot of trades. Such a high volume of trading may not be suited to beginner investors. Scotia iTrade offers a so-called practice account with a fictional portfolio of $100,000 that lets you use the platform and get your feet wet with different kinds of trades using play money.
Google Play Store rating: 1.6 stars
Apple App Store rating: 1.3 stars

Asset Types	Stocks Bonds Options Mutual Funds ETFs GICs IPOs
Minimum Age	18
Stock Trading Fee	$4.99–$9.99
Option Trading Fee	$9.99 + $1.25 contract ($4.99 + $1.25 contract if completed 150 trades or more a quarter)
Account Fee	$0
Inactivity Fee	$25/year
ETF Transaction Cost	$9.99 ($4.99 if completed 150 trades or more a quarter)

Finder Rating: ★★★★★ 3.8 / 5 Go to site Read review

CIBC Investor's Edge

$4.95–$6.95
Stock Trading Fee

$100
Account Fee

$0
Minimum Deposit

• Pros and Cons
• More Info
• Details

• Student discounts available
• Free daily market report email with advice and investment ideas

• You need to make a lot of trades each month to qualify for lower commissions
• Annual fee if you don't carry a minimum balance in your account

The third member of Canada's big banks we look at, it offers lower trading fees than BMO and Scotiabank. CIBC Mobile Wealth offers access to a wide variety of investment and trading account options, as well as third-party research and screening tools.
Google Play Store rating: 3.2 stars
Apple App Store rating: 3.3 stars

Asset Types	Stocks Bonds Options Mutual Funds ETFs
Minimum Age	18
Stock Trading Fee	$4.95–$6.95
Option Trading Fee	$4.95–$6.95 (+$1.25 per contract)
Account Fee	$0 if conditions met, or $100
Inactivity Fee	$100 a year
ETF Transaction Cost	$6.95

Finder Rating: ★★★★★ 4.3 / 5 Go to site Read review

Interactive Brokers

Max. 0.5%
Stock Trading Fee

$0
Account Fee

$0
Minimum Deposit

• Pros and Cons
• More Info
• Details

• Detailed educational section, with webinars, videos and even a Traders' Academy
• Offers access to stock markets in 33 different countries and 68 different order types, including stocks, options, currencies and bonds

• Might be too complicated for beginner investors
• High minimum account balance

This app is great if you are an experienced investor looking for reams of information and fancy analytical tools to help you make your trades. In short, it is well suited to those with plenty of experience in online trading and with plenty of money to trade. You may want to look elsewhere if you are a beginner investor.
Google Play Store rating: 3.5 stars
Apple App Store rating: 3.7 stars

Asset Types	Stocks Bonds Options ETFs Currencies Futures
Minimum Age	18
Stock Trading Fee	min $1.00, max 0.5%
Option Trading Fee	$1.50 min. per order
Account Fee	$0
ETF Transaction Cost	Min. $1.00, Max. 0.5%

Finder Rating: ★★★★★ 4.3 / 5 Go to site Read review

Questrade

$4.95-$9.95
Stock Trading Fee

$0
Account Fee

$1,000
Minimum Deposit

• Pros and Cons
• More Info
• Details

• Get $50 in free trades when you fund your account with a minimum of $1,000.
• Low fees
• Ability to trade various types of securities.

• High minimum account balance
• Customer complaints about mobile app

Questrade is one of the cheapest places to buy and sell securities online in Canada. Compared with Wealthsimple, it offers a much larger selection of securities you can trade, including options, foreign currencies and commodity futures. Get $50 in free trades when you fund your account with a minimum of $1,000.. Questrade does not charge an annual fee and you don't pay any commissions when you buy ETFs. Other trading fees range between $4.95 and $9.95. Questrade offers both a web platform and a mobile application. The latter has not been well received by users, judging by the ratings it has received in app stores. Users complained about prices quoted on it lagging actual markets and long loading times.

Asset Types	Stocks Bonds Options Mutual Funds ETFs GICs International Equities Precious Metals
Minimum Age	18
Stock Trading Fee	$4.95 - $9.95
Option Trading Fee	$9.95 + $1 per contract
Account Fee	$0
Inactivity Fee	$0
ETF Transaction Cost	Free

How to find the best stock trading app for you

Before signing up for a stock trading app, consider these factors:

• Fees. Beyond commissions per trade, look into account minimums, transfer fees and varying costs to trade more complex securities.
• Available securities. Some platforms offer a wide range of securities, while others specialize in only one or two.
• Research tools. Beginners may want an app with educational resources, while active traders will need robust analytics tools.
• Mobile support. Apps typically aren’t as robust as some desktop versions of the same platform. (Note: Not all apps also offer a corresponding desktop trading platform.) Check 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.

• 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.

Bottom line

The best stock trading app depends on what kind of investor you are. Be sure to compare fees. But also look at what other resources and features an app offers and how its cost structure matches up with your own trading needs. You can also read more about the best online trading platforms in our guide.

Frequently asked questions about the best stock trading apps

• What is the best stock trading app in Canada?

  It really depends what your needs are. Some apps focus on simple trades like ETFs and individual stocks at little or no cost. Others let you buy more complex securities and offer tools that help you analyze your investments, but cost more. Once you determine what features are important to you, you can choose the best stock trading app for you.

• What is the best stock trading app for beginners?

  This depends on who you are, what you are looking for, and how new you are to trading. That said, Wealthsimple is a great platform for beginners because it is easy to navigate, does not charge a trading fee, and offers a variety of educational tools for novice traders. Plus, if you have questions, you can get in touch through phone, chat or email.

• Which Canadian banks are best for stock trading?

  Again, it depends on what kind of investor you are. All of Canada’s so-called Big Six banks offer trading platforms, though some like TD Bank don’t offer a dedicated app for it.

• Is day trading legal in Canada?

  Yes. But this is definitely not for the faint of heart or for inexperienced investors. Day traders buy and sell stocks on the same day. It can be lucrative, but also extremely risky. You should also consult with a professional about the tax implications in Canada of money earned from day trading.