Methodology for stock trading platforms and apps

Finder’s investment experts assess brokers across five key categories to help you objectively evaluate a stock trading platform’s overall performance and suitability for your unique needs.

The five categories we measure are:

• Investment options
• Trading costs, rates and fees
• Features and amenities
• User experience and support
• Regulatory compliance

Data collection

We collect data manually through online research and from providers directly. For many of the brokers we review, our investment experts perform hands-on testing. Some platforms and apps also provide live demonstrations of their platforms and services.

Category weightings

We weigh each metric based on factors we believe are most important to traders and investors. Platforms earn a score in each category and then an overall score based on the weightings detailed on this page.

• Investment options: 30%
• Trading costs, rates and fees: 30%
• Features and amenities: 20%
• User experience and support: 10%
• Regulatory compliance: 10%

Scoring and rating

Wondering how we work out Finder Score? We look at 10+ stock trading apps and platforms and we compare them against each other to get our simple score out of 10. Metrics like investment options and customer support, fees and features are weighted and scaled to come up with individual Finder Scores.

Trading platforms are evaluated on the five key categories outlined on this page. These categories are broken down into 40 different weighted criteria. Some of these data points are features that Finder’s experts consider perks to the main features.

• 9+ Excellent – The crème de la crème of stock trading apps and platforms. These products offer the best fees and features.
• 7+ Great – Slightly higher fees and fewer features, but these platforms are still competitive.
• 5+ Satisfactory – Typically offering average fees and possibly lacking in the features department.
• Less than 5 – Basic – The least competitive in terms of both fees and features.

Investment options

This category evaluates the breadth and diversity of available assets. We consider access to stocks, ETFs, options, mutual funds, bonds, cryptocurrency, futures, forex, precious metals, hedge funds, GICs, and CFDs. We also consider whether the broker offers IPO access, fractional shares and limit orders. In addition, we also take into account how many stock exchanges a broker has access to.

Trading costs, rates and fees

This category evaluates the broker’s trading fee structure, including stock, ETF and options commissions, as well as margin rates, account fees, inactivity fees and deposit and withdrawal fees.

Features and amenities

This category considers extra features a broker may offer. This includes access to financial advisors, robo-advisors, and access to educational resources, demo accounts, analysis tools, day trading, extended hours trading and real time quotes.

User experience and support

This category rates the broker’s customer support responsiveness and accessibility and evaluates available support channels, such as live chat, phone, email and support request forms. This category also examines user ratings include App store and Google Play app ratings and TrustPilot ratings.

Regulatory compliance

This category examines the regulatory bodies that protect or ensure the broker is complying to the rules. This includes Canadian Investment Regulatory Organization (CIRO), Canadian Investor Protection Fund (CIPF) and Canadian Securities Administrators (CSA).