5 key investment tools that can boost your trading skills
Level up your skills and trade confidently with these self-directed investing tools.
Sponsored by CIBC. CIBC Investor’s Edge is a self-directed trading platform backed by one of the biggest banks in Canada. Right now, you can get 100 free online equity trades when you open an account using promo code EDGE100 (terms & conditions apply).
The stock market has had some wild ups and downs the past few years, thanks to COVID, the AI technology boom and Trump’s trade wars. Investors are buzzing, and many are turning to self-directed trading platforms to manage their own investments.
In fact, nearly half of Canadian investors have a self-directed trading account, according to the Canadian Securities Administrators. Low fees and access to a myriad of investment tools are likely part of the attraction.
Which tools give you the biggest leg up as an investor? Here are some of the most helpful features to look for when DIY investing.
Learn more about investing on CIBC Investor’s Edge
1. Stock charts
Popular movies may lead you to believe that only briefcase-toting professionals can understand stocks and tell you where to invest. The truth is, pros no longer gatekeep the investment market. Much of the information they have at their fingertips is now available to anyone with a self-directed account.
That includes stock charts, which show stock price changes over a range of time. You can use this to identify price movements—like upward or downward trends—and try to predict where the market is headed next, so you can buy the best stocks.
2. Watchlists & alerts
Viewing stock performance over time is useful, but if you don’t take action when prices are favourable, you’ll miss out on opportunities to profit.
How do you stay on top of price movements when you’re not online? That’s where watchlists and alerts come in.
With Investor’s Edge and other investment apps, you can save specific stocks to a list, which surfaces relevant news and information on those stocks and, depending on your preferences, triggers notifications and alerts when notable stock events take place.
Opportunities to buy low and sell high can be unpredictable. As word spreads and investors move to get a slice of the action, your window of time to profit may shrink. That’s why it’s crucial to use tools like these to keep an eye on the market and stay informed 24/7, regardless of where you are.
Start trading with CIBC Investor’s Edge
3. Stock screeners
Narrowing down the right stock picks can be overwhelming when you’re faced with thousands of options across multiple exchanges and countries. How do you know what to choose?
Stock screeners let you view and filter stocks available on your investment platform based on factors like price, country, sector, industry, market capitalization and trade volume. Screeners can be the self-directed investor’s best friend, substantially reducing the time it takes to hone in on securities that match your criteria.
Your trading platform may have a number of pre-set screeners that group together stocks according to popular criteria like top-performing, top-rated or top dividend stocks.
4. Expert insights
Independently managing your portfolio comes with advantages, like potential fee savings and autonomy, but it doesn’t mean you have to navigate investing alone.
Because understanding market signals can be complex and time-consuming, look for a platform that offers access to professional market insight and analysis.
5. Guides & tutorials
Flying solo as an investor is very do-able if you choose a platform with ample how-to materials, online guides and video tutorials to help you make the most of its features and become a more savvy investor.
A robust online community of existing users is also invaluable, as real investors can give you an inside look at their experiences and answer many of your questions.
CIBC Investor’s Edge takes beginners in hand with its free Investing 101 course, which walks through goals, risk, diversification, fundamental and technical analysis and more. The platform also provides guidance on options trading and other advanced topics. Resources are available on both desktop and mobile apps, so you can learn anytime, anywhere.
Learn more about trading with CIBC Investor’s Edge
Finder Score for stock trading platforms
To make comparing even easier we came up with the Finder Score. Trading costs, account fees and features across 10+ stock trading platforms and apps are all weighted and scaled to produce a score out of 10. The higher the score, the better the platform—it's that simple.