Choosing the right stock trading platform is crucial for any investor. The best stock trading platforms are quick and easy to use, have low or no fees and have all the features you need to trade with confidence. But the best platform for you will vary depending on factors such as what you want to trade, how often and whether you’re a beginner or experienced investor.
To help you compare your options, we’ve crunched the numbers to pick the 10 best stock trading platforms and apps in Canada.
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Interactive Brokers
Finder score: 4.2 / 5 ★★★★★
The more you trade, the cheaper your fees. Commissions range from a minimum of $1 to a maximum of 0.5% per trade. Margin trading is available for experienced traders. Rates run between 5.36% and 6.36%, which is pretty competitive for the Canadian market.
New investors might be daunted by the platform's extensive suite of analytical and educational tools, but there's a rich assortment of features for those willing to deep dive into investments.
| Stock Trading Fee | Max. 0.5% |
|---|---|
| Account Fee | $0 |
| FX Fee | 0.2 bps trade value, min $2.00 |
| Min. Deposit | $0 |
| Google Play app reviews | IBKR GlobalTrader: 3.9/5 stars based on 501 reviews IBKR Mobile: 4.7/5 stars based on 35,909 reviews |
| Apple App Store app reviews | IBKR GlobalTrader: 2.5/5 stars based on 20 reviews IBKR Mobile: 4.5/5 stars based on 3,528 reviews |
Moomoo Financial Canada
Finder score: 3.9 / 5 ★★★★★
| Stock Trading Fee | $0.0099 - $$0.0149 |
|---|---|
| Account Fee | $0 |
| FX Fee | 0.09% + USD$2 |
| Min. Deposit | $0 |
| Google Play app reviews | 4.5/5 stars based on 25,457 reviews |
| Apple App Store app reviews | 4.6/5 stars based on 657 reviews |
CIBC Investor's Edge
Finder score: 3.7 / 5 ★★★★★
| Stock Trading Fee | $4.95–$6.95 |
|---|---|
| Account Fee | $100 |
| FX Fee | Varies |
| Min. Deposit | $0 |
| Google Play app reviews | 3.5/5 stars based on 4,987 reviews |
| Apple App Store app reviews | 3.6/5 stars based on 5,984 reviews |
Questrade
Finder score: 3.9 / 5 ★★★★★
| Stock Trading Fee | $4.95-$9.95 |
|---|---|
| Account Fee | $0 |
| FX Fee | 2.5% |
| Min. Deposit | $1,000 |
| Google Play app reviews | 1.8/5 stars based on 1,265 reviews |
| Apple App Store app reviews | 3.4/5 stars based on 1,119 reviews |
Qtrade Direct Investing
Finder score: 3.6 / 5 ★★★★★
| Stock Trading Fee | $6.95 - $8.75 |
|---|---|
| Account Fee | $0 - $25 |
| Min. Deposit | $0 |
| Google Play app reviews | 2.8/5 stars based on 67 reviews |
| Apple App Store app reviews | 3.1/5 stars based on 73 reviews |
Wealthsimple
Finder score: 3.8 / 5 ★★★★★
Wealthsimple is all about low fees. It does not charge any commissions on trades. And you can make as many trades as you like, free of charge. There are no annual fees or account minimums. It is one of the lowest-cost trading options available to Canadian investors. Wealthsimple stacks up favourably against the other platforms we looked at when it comes to educational resources and tools, with various savings calculators, articles and investor masterclass videos to teach you the basics.
If there is a catch, it's that you are limited in the types of securities you can trade, as Wealthsimple offers mostly stocks and ETFs. You can open a non-registered account, RRSP or TFSA. There is a mobile and web platform, and the application received some of the highest user ratings among platforms we looked at.
Wealthsimple was the winner of the Beginners and Canadian Stocks awards in the Finder Stock Trading Platform Awards 2022.
| Stock Trading Fee | $0 |
|---|---|
| Account Fee | $0 |
| FX Fee | 0% - 1.50% |
| Min. Deposit | $0 |
| Google Play app reviews | 4.1/5 stars based on 78,627 reviews |
| Apple App Store app reviews | 4.6/5 stars based on 124,732 reviews |
RBC Direct Investing
Finder score: 3.8 / 5 ★★★★★
Trade the way you want with RBC Direct Investing, which offers a robust online investing platform, trading dashboard and mobile app. Get real-time quotes for stocks and ETFs, including Level 2 quotes for stocks and ETFs trading on the TSX and TSXV. Use RBC's powerful screener powered by Refinitiv to filter securities based on performance, Morningstar rating or any other criteria you set.
Active traders save on commissions, and margin trading is available with competitive interest rates. Not every platform offers a demo account for you to practice trading without using real money, but RBC Direct Investing does. Plus, you can easily view all your RBC account balances and transfer funds to and from your investment account with a single sign-on.
RBC Direct Investing was the winner of the Trading Features award in the Finder Stock Trading Platform Awards 2022.
| Stock Trading Fee | $9.95 |
|---|---|
| Account Fee | $100 |
| FX Fee | 0.10% - 1.60% |
| Min. Deposit | $0 |
| Google Play app reviews | 3.7/5 stars based on 38,724 reviews |
| Apple App Store app reviews | 4.8/5 stars based on 207,860 reviews |
Scotia iTRADE
Finder score: 3.8 / 5 ★★★★★
| Stock Trading Fee | $4.99–$9.99 |
|---|---|
| Account Fee | $100 |
| FX Fee | Varies |
| Min. Deposit | $0 |
| Google Play app reviews | 3.4/5 stars based on 2,863 reviews |
| Apple App Store app reviews | 4.2/5 stars based on 9,367 reviews |
National Bank Direct Brokerage
Finder score: 3.8 / 5 ★★★★★
| Stock Trading Fee | $0 |
|---|---|
| Account Fee | $100 |
| FX Fee | Varies |
| Min. Deposit | $0 |
| Google Play app reviews | 4.4/5 stars based on 596 reviews |
| Apple App Store app reviews | 4.7/5 stars based on 2,553 reviews |
BMO InvestorLine
Finder score: 3.8 / 5 ★★★★★
| Stock Trading Fee | $9.95 |
|---|---|
| Account Fee | $50 - $100 |
| Min. Deposit | $0 |
| Google Play app reviews | 3.4/5 stars based on 1,051 reviews |
| Apple App Store app reviews | 4.4/5 stars based on 2,968 reviews |
Finder’s investments experts reviewed 14+ brokers available on the market to narrow down the best brokerage accounts and stock trading apps for trading and investing.
We analyzed each platform based on 100+ key metrics we collected directly from brokers and assessed each provider’s performance based on eight different categories, weighing each metric based on the expertise and insights of Finder’s investment experts. We then scored and ranked each provider depending on how it performed in each category.
See how we weigh the overall rating
| Investment options | Trading platforms & tech | Trading costs | Fees | Customer support | Mobile app rating & security | Features & amenities | Account types & minimums |
|---|---|---|---|---|---|---|---|
| 20% | 20% | 20% | 15% | 10% | 5% | 5% | 5% |
We update our best picks as products change, disappear or emerge in the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.
| Platform | Finder score | Stock trading fee | Account fee | Minimum deposit | |
|---|---|---|---|---|---|
| Interactive Brokers | ★★★★★ | Max. 0.5% | $0 | $0 | |
| Moomoo Financial Canada | ★★★★★ | $0.0099 - $$0.0149 | $0 | $0 | |
| CIBC Investor's Edge | ★★★★★ | $4.95–$6.95 | $100 | $0 | |
| Questrade | ★★★★★ | $4.95-$9.95 | $0 | $1,000 | |
| Qtrade Direct Investing | ★★★★★ | $6.95 - $8.75 | $0 - $25 | $0 | |
| Wealthsimple | ★★★★★ | $0 | $0 | $0 | |
| RBC Direct Investing | ★★★★★ | $9.95 | $100 | $0 | |
| Scotia iTRADE | ★★★★★ | $4.99–$9.99 | $100 | $0 | |
| National Bank Direct Brokerage | ★★★★★ | $0 | $100 | $0 | |
| BMO InvestorLine | ★★★★★ | $9.95 | $50 - $100 | $0 |
Out of the apps we reviewed, the highest rated stock trading app for iOS on the Apple App Store is the RBC Mobile app, which gives you access to RBC Direct Investing. When it comes to the highest rated stock trading apps for Android, there was a tie on the Google Play Store between Interactive Brokers and National Bank Direct Brokerage.
Here is a summary of stock trading app ratings in Canada for iPhones and Androids:
| Apple App Store | Google Play Store | |
|---|---|---|
| Interactive Brokers | IBKR GlobalTrader 20 reviews IBKR Mobile 3,500+ reviews | IBKR GlobalTrader 500+ reviews IBKR Mobile 35,900+ reviews |
| Moomoo | 4.6 – ★★★★★ 600+ reviews | 4.5 – ★★★★★ 25,400+ reviews |
| CIBC Investor’s Edge | 3.6 – ★★★★★ 5,900+ reviews | 3.5 – ★★★★★ 4,900+ reviews |
| Questrade | 3.4 – ★★★★★ 1,100+ reviews | 1.8 – ★★★★★ 1,200+ reviews |
| Qtrade | 3.1 – ★★★★★ 73 reviews | 2.8 – ★★★★★ 67 reviews |
| Wealthsimple | 4.6 – ★★★★★ 124,700+ reviews | 4.1 – ★★★★★ 78,600+ reviews |
| RBC Mobile | 4.8 – ★★★★★ 207,800+ reviews | 3.7 – ★★★★★ 38,700+ reviews |
| Scotia iTRADE | 4.2 – ★★★★★ 9,300+ reviews | 3.4 – ★★★★★ 2,800+ reviews |
| National Bank Direct Brokerage | 4.7 – ★★★★★ 2,500+ reviews | 4.4 – ★★★★★ 590+ reviews |
| BMO InvestorLine | 4.4 – ★★★★★ 2,900+ reviews | 3.4 – ★★★★★ 1,000+ reviews |
Based on our top picks, the best free stock trading apps that don’t charge a trading fee and come with a $0 account fee are Wealthsimple and Moomoo.
Most stock trading apps are free to download and also free to sign up for an account. But there are fees you need to be aware of when you trade.
The most common fee is the broker’s commission. While some brokers charge $0 commissions on certain assets, many charge a flat fee per trade. And even if an app does advertise fee-free trading, this will typically only apply to a limited selection of assets (such as Canadian stocks and ETFs).
There are other fees to be aware of too. Many (but not all) brokers charge a monthly fee if your account balance doesn’t exceed a minimum limit, while fees and currency conversion costs may apply if you trade foreign stocks and ETFs.
That’s why even if a broker says it offers “$0 commissions” or “no fees”, it’s always important to check the fine print. Compare a range of apps to find the best free stock trading app for you.
Find the stock trading platform that matches your investing needs and style
I opened a self directed investing account with Questrade after researching RESP trading accounts. Wealthsimple has an option for a robo account but I wanted to build my own portfolio. I love the interface on desktop and the app is good after you get the hang of it. ETF trades are free which is what I was looking for. The CESG match is automatically deposited into the trading account which is great. You do need to make an initial deposit of $1,000 when opening the account which might not be ideal for everyone.
— Cameron Millband, Performance Director
The best trading app for you might not be the same as the best choice for someone else. Whether you’re a beginner or an experienced investor, you will have your own unique requirements from a trading app. That’s why it’s important to consider the following factors when comparing your options.
Some brokers don’t charge any commissions on Canadian stock and ETF trades, but others charge a flat fee of typically $5–$10 per trade. Others charge a fee based on the number of stocks you buy, for example $0.01 per share, so work out how much it’ll cost you to invest.
There are a few other fees that may apply, so check the fine print for any:
The best stock trading apps are easy to use right from the moment you sign up. A user-friendly interface is particularly important if you’re a novice investor, so search for an app that offers a simple and intuitive experience. Reading reviews from other users is a great way to work out whether an app is easy to use straight away.
Do you only want to trade Canadian stocks and ETFs or do you want to invest in US, European, Asian and emerging markets? If you want to trade international stocks, be aware that not all brokers provide access to foreign stock exchanges. Check the list of exchanges you can access and what fees apply to overseas trade.
Check which securities you can trade from each broker’s app, such as:
Find out what sort of research and analysis you can access through the app. For example, you may be able to access in-depth market analysis from the broker’s in-house team or a third-party service, plus be kept up to date with the latest market news.
Check whether the broker has a minimum account balance requirement. Some providers don’t have any minimum limits, but others will charge a monthly fee if your balance is less than a specified amount.
If you ever have a problem with a trade or a question about your account, how can you get in touch with your broker’s customer support team? Check the contact methods available and the hours during which the support team is available. An online help center with answers to a range of FAQs is also a useful resource.
Put together a list of any other key features you want in a trading app, such as:
If you’ll also be placing trades through your broker’s web-based or desktop platform, check out whether those platforms are user-friendly and offer all the key features you need. If there’s a free demo account available, use it to put a platform through its paces with virtual rather than real money.
Make sure you only consider brokers that are regulated by the Investment Industry Regulatory Organization of Canada (IIROC), and that the funds you deposit will be covered under the Canadian Investor Protection Fund (CIPF).
All of our picks for the best trading app are regulated by IIROC and CIPF, meaning if they go under, your money will be protected up to specified amounts. Some providers also offer 2-factor authentication and high-level encryption of data to keep your account safe.
Head to the app store for your smartphone and read reviews from other users. You can also explore customer feedback in places like the Better Business Bureau and Reddit to find out what investors really think about the platform and what issues they run into. Are they happy with the app? Are there any major problems repeatedly mentioned in reviews? Is there a common theme about how the app could be improved?
How to pick the best stock trading platform
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, Investments
Before you download a stock trading app and sign up for an account, make sure you’re aware of the benefits and drawbacks of trading through an app:
According to results from the Finder: Consumer Sentiment Survey Q1 (CSTQ1), more than a third (36.18%) of Canadians considered equities to be a smart investment in the first quarter of 2023. This dropped only slightly in the second quarter of 2023 to 27%, according to the Finder: Consumer Sentiment Survey Q2 (CSTQ2).
Men preferred stocks as an investment option, with 41% considered Q1 2023 a “good time to invest in stocks,” compared to 32% of female investors.(1)
Age also had an impact on an investor’s confidence in stocks as an investment opportunity. The youngest generation, Gen Z (investors up to the age of 24) had the most confidence in stocks as a good investment opportunity in the first quarter of 2023 with 53% believing “now is a good time to invest in stocks,” compared to 42% of millennials, 31% of Gen X and 19% of baby boomers.
In general, almost a third of Canadians investors (31%) held stocks outside of their registered accounts, such a retirement savings fund (RRSP) or Tax-Free Savings Fund Account (TFSA) and almost three quarters (72%) bought or sold stock through an online stock platform or app. This seems logical, given that 29% of respondents in the CSTQ2 stated they had never worked with and had no plans to use the services of a financial advisor.(2)
There are many things to consider when choosing a stock trading platform or app to buy and sell stocks and other securities. The right trading platform for you will match your needs, so if on-the-go trading is your number 1 concern, you’ll probably end up choosing a different app to someone who wants to focus on commodity trading.
The key thing to remember is to do your research and compare a range of trading platforms first. Start with our range of trading platform reviews to get an idea of what’s available in Canada and the key features you need to consider.
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