The best stock trading platforms are easy to use, have low or no fees and offer all the features you need to trade confidently. To help you compare options and find the best platform for your needs, we found the 6 best stock trading platforms and apps in Canada.
Our top picks for stock trading platforms
1. CIBC Investor’s Edge
CIBC Investor's Edge
7.6 Great
Stock Trading Fee | $0–$6.95 |
---|---|
Account Fee | $100 |
FX Fee | Varies |
Min. Deposit | $0 |
2. Interactive Brokers
Interactive Brokers
8.8 Great
Stock Trading Fee | Max. 0.5% |
---|---|
Account Fee | $0 |
FX Fee | 0.2 bps trade value, min $2.00 |
Min. Deposit | $0 |
3. Moomoo
Moomoo Financial Canada
7.4 Great
Stock Trading Fee | $0.0099 - $$0.0149 |
---|---|
Account Fee | $0 |
FX Fee | 0.09% + USD$2 |
Min. Deposit | $0 |
4. RBC Direct Investing
RBC Direct Investing
7.9 Great
Trade stocks, bonds, ETFs, mutual funds, GICs, IPO shares and more with RBC's robust online and mobile trading platforms. Not every platform offers a demo account for you to practice trading without using real money, but RBC Direct Investing does. Get real-time quotes for stocks and ETFs, and save on commissions when you make 150+ trades per quarter. View all your RBC banking and investment account balances on the same app.
Stock Trading Fee | $9.95 |
---|---|
Account Fee | $100 |
FX Fee | 0.10% - 1.60% |
Min. Deposit | $0 |
5. Questrade
Questrade
9.1 Excellent
Stock Trading Fee | $0 |
---|---|
Account Fee | $0 |
FX Fee | 1.5% |
Min. Deposit | $0 |
6. Qtrade Direct Investing
Qtrade Direct Investing
7.7 Great
Stock Trading Fee | $6.95 - $8.75 |
---|---|
Account Fee | $0 - $25/quarter |
Min. Deposit | $0 |
Methodology: How we choose the best stock trading accounts
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.
How to choose the best stock trading app
The best trading app for you might not be the same for someone else. Whether you’re a beginner or an experienced investor, you have your own unique requirements for a trading app. That’s why it’s important to consider the following factors when comparing your options.
Brokerage fees
Some brokers don’t charge any commissions on Canadian stock and ETF trades, while others charge a flat fee that’s typically $5–$10 per trade. Still others charge a fee based on the number of stocks you buy, for example $0.01 per share.
Other fees
There are a few other fees that may apply, such as:
- Subscription fees to access features like market news, real-time data and expert analysis
- Inactivity fees if you don’t make any trades for a specified period of time
- Minimum balance fees if your account balance is less than a specified minimum
- Currency conversion fees if you trade on foreign markets
Ease of use
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’s simple and intuitive. Reading user reviews is a great way to work out if an app is well designed.
Market access
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 for overseas trading.
Tradable assets
Check which securities you can trade from each broker’s app, such as:
- Stocks
- ETFs
- Options
- Bonds
- Futures
- Mutual funds
- Forex
- Cryptocurrencies
Research and analysis
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.
Minimum investment amount
Check if 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.
Customer support
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.
Other features
Put together a list of any other key features you want in a trading app, such as:
- Advanced charting tools and technical indicators
- Stock screeners that let you narrow down potential investments
- Automated investing with a robo-advisor
- Social trading that allows you to see and copy other people’s trades
- Educational resources to help you learn about trading and how to use the app’s features
Other platforms
If you’ll also be placing trades through your broker’s web-based or desktop platform, check if those platforms are user-friendly and offer all the key features you need. If there’s a free demo account, use it to put a platform through its paces with virtual, rather than real, money.
Is it regulated?
Make sure you only consider brokers that are regulated by the Canadian Investment Regulatory Organization (CIRO), 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 members of CIRO and CIPF, meaning if a platform goes under, your money will be protected up to specified amounts. Some providers also offer two-factor authentication and high-level data encryption to keep your account safe.
User reviews
Head to your phone’s app store and read reviews from other users. You can also explore customer feedback on sites 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?
What are the pros and cons of stock trading apps?
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:
Pros
- User-friendly. The best stock trading apps in Canada provide a streamlined user experience, making it simple to start building your investment portfolio.
- Convenient. Stock trading apps make Canadian and global markets more accessible than ever before. You can buy and sell stocks with just a few taps, and make adjustments to your portfolio on the go.
- Feature-packed. The best stock trading apps let you do more than just buy and sell stocks. They make it easy to track the performance of your portfolio, stay up to date with the latest market news and research potential investment opportunities.
- Low minimum investment. With many brokers supporting fractional share trading, you don’t necessarily need a big savings balance to start trading.
Cons
- You need to understand the risks involved. The best stock trading apps make it quick and easy to invest in the stock market, so don’t fall into the trap of buying and selling on impulse. Research any potential investment carefully and understand the risks involved before you trade.
- Lack of advanced features. If you’re an experienced investor searching for advanced charting and technical analysis tools, you may prefer a desktop or web-based platform.
- Limited choice on some apps. Some trading apps only provide access to a limited range of tradable assets.
Bottom line
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 one concern, you’ll probably end up choosing a different app than someone who’s focused on commodity trading.
The key thing to remember is to do your research and compare a range of trading platforms first.
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