Virtual Brokers review
Get low commissions and benefit from industry-leading research tools with this private online broker.
Virtual Brokers offers top-rated research tools to inform the decisions you make about your investments.
Do you want to try your hand at investing? Virtual Brokers is a one-stop shop for trading all types of financial products. It offers several different trading platforms based on what level of expertise you have and what types of investments you’re looking to make.
You can sign up for an account quickly and easily by applying online. From there, you’ll just need to verify your identity and load funds into your account to start trading.
- Think about this broker if you want low fees and the ability to choose from multiple trading platforms.
- Choose something else if you’d like to work with a dedicated portfolio manager or you would prefer to work with a bank-owned platform.
What investments does Virtual Brokers offer?
Virtual Brokers offers several different types of investments depending on your level of expertise and interests. These include the following:
- Equities. Purchase stocks in publicly-listed companies and collect dividends on certain shares to make extra revenue.
- Exchange traded funds. Buy and sell these ETFs on the stock market instead of going through a portfolio manager.
- Mutual funds. Put your money into a managed fund that combines your money with the funds of other investors to bring overall costs down.
- Options. Speculate on how an entity or asset will perform on the stock market and make money if you correctly estimate stock prices by a certain date.
- Fixed income securities. Invest your money into financial products that will give you a set return on interest (such as bonds or guaranteed investment certificates).
Who is Virtual Brokers best for?
Virtual Brokers is a good fit for beginners and experts alike. It offers several different investment platforms depending on what level of expertise you have as well as what products you’re interested in. For example, some platforms are reserved for professional traders while others are a good fit for investors interested in trading “options” or other advanced products.
How easy is Virtual Brokers to use?
Virtual Brokers is a bit more complex to use simply because it offers so many different platforms to choose from. You’ll have to choose which platform best fits your level of expertise as well as what investment products you’re interested in. It’s easy to sign up for an account online with Virtual Brokers.
Which platform should I choose?
Virtual Brokers offers a number of different platforms to choose from based on your interests. These include the following:
- Beginner trader. You can sign up for PowerTrader Pro, VB Wave and VB WebTrader if you’re just starting out.
- Active trader. The best fit for you will likely be PowerTrader Pro or VB Wave if you have a decent amount of experience or plan to execute many trades.
- Professional trader. You’ll be able to use IRESS, ITS and RealTick for professional trading purposes.
What research does Virtual Brokers provide?
Virtual Brokers offers a number of different research options, depending on what type of investments you want to make. These include the following:
- Technical analysis. Spot investment trends and find new investment opportunities with technical insights and analysis.
- Equity benchmarks. Get a detailed overview of how the stock market is performing so that you know the best time to invest.
- Equity research. Take advantage of highly customizable equity research, analysis and screening tools to help you make informed financial decisions.
- Stock screeners. Enjoy a complete suite of powerful screeners and alerts to allow you to quickly find or respond to market opportunities.
- Specialized research tools. Get feedback and analysis on bonds, mutual funds and other specific types of investments.
Pricing and fees
You’ll pay a different amount for trades based on what type of investments you’re buying and selling. Some examples of the fees you’ll pay by trade are listed below:
Type of investment
Price for trade
Between $1.99 and $7.99
Exchange traded funds
Buy for free, sell for between $1.99 and $7.99
$0 (but early redemption fees may apply)
$7.99 (+$1.25 per contract)
Is Virtual Brokers safe?
Virtual Brokers is a relatively secure way to invest your money. It’s a member of the Investment Industry Regulatory Organization of Canada (IIROC), which means it’s highly regulated. It’s also a member of the Canadian Investor Protection Fund (CIPF), which will protect your deposits up to $1 million in the case of Virtual Brokers going bankrupt.
How does Virtual Brokers keep my money safe?
Virtual Brokers has a number of policies and procedural safeguards to protect your money. It has rigorous data management protocols to make sure that your personal information and investment history remain secure. The company also promises that you’ll get 100% reimbursement for any financial losses you may incur from unauthorized use of your Virtual Brokers account.
Customer reviews and complaints
Virtual Brokers is a well-known platform that has decent reviews from customers and independent investment review sites. Positive reviews indicate that Virtual Brokers is a secure service that offers cheap trading fees. It’s also well-known for its wealth of research tools. On the flip side, some customers complain that Virtual Brokers has a sub-par customer service team.
Pros and cons
- Easy application. It’s easy to apply online by submitting a simple application and some personal information.
- Low fees. You’ll pay much lower fees with this broker than you would with Canada’s Big Five banks or private brokers.
- Many investment types. You can buy and sell investments like equities, mutual funds, options and fixed income securities.
- Wealth of research tools. Virtual Brokers offers top-rated research tools to inform the decisions you make about your investments.
- Many platforms. You’ll be able to choose the platform that best fits your investment style and interests.
- Potential for financial losses. It’s possible that you’ll lose money on your investments, especially if your risk appetite is high.
- Quarterly fees. You’ll have to pay a quarterly fee of $25 to maintain your account unless you keep your account balance above $15,000.
- Admin fees. You may have to pay additional fees for services like transferring funds into or out of your account.
- Platform fees. Some platforms come with fees as low as $75 while others cost over $1,000 to use.
- Online-only. All of your buying and selling will be done online, so you’ll need to be a little bit tech-savvy to navigate the trading process.
- Less dedicated support. You’ll need to do a significant amount of research to make the right investment choices since you won’t have any support from an adviser.
How do I sign up?
If you want to sign up for an account, you’ll just need to follow the steps below:
- Use the online application to provide personal information like your name, email address, proof of ID and relevant documents.
- Review and submit your application.
- Get verified and load funds into your account to start trading.
How do I contact Virtual Brokers support?
You’ll be able to contact Virtual Brokers by calling its customer service line at 877-310-1088 or by sending an email to its website. You can also visit its offices in Toronto to speak to an agent if you want more information about your account.
Compare other online trading platforms
Virtual Brokers is a well-known online trading account that offers a number of platforms to choose from. You can lock in multiple investment products depending on your level of expertise and interests. Learn more about how Virtual Brokers works, and find out what you need to do to sign up for an account and start investing.