Best Trading Platforms in Canada
Discover 8 deals available this month.
1.Questrade
Questrade is a major Canadian discount broker with $0 commissions on Canadian and U.S. stock and ETF trades, offering advanced platforms including Questrade Pro. It provides strong tools suitable for both active traders and long-term investors.
View Deal →Questrade stands out by combining commission-free trading with robust, professional-grade tools, making it a versatile choice for a wide range of investors.
Pros:
- $0 commissions on Canadian and U.S. stock and ETF trades
- Advanced trading platforms including Questrade Pro
- Comprehensive tools for both active and long-term investors
Cons:
- No specific cons mentioned in the provided research
- May be overwhelming for complete beginners due to advanced features
2.Wealthsimple Trade
Wealthsimple Trade is a Canadian mobile-first platform offering commission-free trading on stocks and ETFs, along with access to cryptocurrencies. It features a simple interface but supports only limited order types.
View Deal →Beginners will appreciate Wealthsimple Trade’s straightforward, no-commission setup paired with crypto access, making it easy to start investing on the go. However, its basic features and limited order options might fall short for more experienced traders.
Pros:
- Commission-free trading on Canadian and U.S. stocks and ETFs
- Access to cryptocurrency trading alongside traditional investments
- Mobile-first platform designed for ease of use
Cons:
- Relatively simple feature set with limited advanced tools
- Supports only a small range of order types
- May not meet needs of active or professional traders
3.Qtrade Direct Investing
Qtrade Direct Investing offers a polished web and mobile platform with strong research tools and excellent customer service. It features many commission-free ETFs and competitive pricing suitable for both active and long-term investors.
View Deal →Investors who prioritize quality customer support and robust research will find Qtrade Direct Investing a solid choice with its user-friendly platform and cost-effective ETF options.
Pros:
- Excellent customer service
- Strong research tools
- Many commission-free ETFs
- Competitive pricing for active and long-term investors
Cons:
- No mention of zero commissions on stock trades
- May not offer as advanced trading tools as some competitors
- Pricing details less transparent compared to some discount brokers
4.Interactive Brokers Canada
Interactive Brokers Canada provides low-cost access to global markets with advanced trading tools and professional-grade order types. It is tailored for active and sophisticated traders.
View Deal →Active and experienced traders will appreciate Interactive Brokers Canada's wide market access combined with sophisticated order options and advanced tools. This platform stands out for those seeking professional-grade features without high costs.
Pros:
- Low-cost access to worldwide markets
- Advanced trading tools and data
- Professional-grade order types
Cons:
- Not ideal for beginners due to complexity
- May have a steeper learning curve compared to simpler platforms
- Less emphasis on beginner-friendly features or education
5.National Bank Direct Brokerage
National Bank Direct Brokerage offers $0 commissions on stock and ETF trades with no annual account fees if you maintain a modest balance. It is a bank-owned platform suited for cost-conscious investors seeking a linked banking experience.
View Deal →Cost-conscious investors who value a bank-linked brokerage will find National Bank Direct Brokerage appealing due to its commission-free trades and low fees. It balances simplicity with the security of being backed by a major Canadian bank.
Pros:
- No commissions on stock and ETF trades
- No annual account fees above a modest balance
- Bank-owned platform offering integration with National Bank accounts
Cons:
- May lack some advanced trading tools compared to specialized brokers
- Features and platform sophistication may be limited for highly active traders
- Not explicitly noted for extensive research or education resources
6.Moomoo Financial Canada
Moomoo Financial Canada offers a data-rich trading app with real-time market data and comprehensive charting tools. It targets active investors seeking low fees and powerful mobile and desktop platforms.
View Deal →Active traders will appreciate Moomoo's advanced features and strong charting capabilities combined with low-cost access to markets. Its data-focused platform suits those who want detailed real-time insights on both desktop and mobile.
Pros:
- Advanced, data-rich trading app with real-time market data
- Strong charting tools available on mobile and desktop
- Low fees appealing to cost-conscious active investors
Cons:
- Primarily geared towards active investors, which may overwhelm beginners
- Less emphasis on beginner-friendly educational resources
- No specific commission or fee details provided compared to some competitors
7.TD Direct Investing
TD Direct Investing is a major Canadian bank brokerage offering robust education resources, extensive research, and integrated banking services. It suits investors who prefer branch access and a full-service ecosystem rather than the lowest fees.
View Deal →Investors valuing comprehensive support and bank integration will find TD Direct Investing a reliable choice, though it may not compete on pricing with discount brokers. Its strength lies in combining traditional banking with investing tools and educational materials.
Pros:
- Access to robust educational resources and research tools
- Integrated banking with TD’s full-service ecosystem
- Availability of branch access for in-person support
Cons:
- Higher fees compared to discount brokerages
- Not ideal for investors seeking the lowest trading costs
- Less focus on cutting-edge trading platforms or order types
8.CIBC Investor’s Edge
CIBC Investor’s Edge is a Canadian bank brokerage offering competitive commissions and solid tools for self-directed investors. It provides low fees while maintaining the security and convenience of a big-bank environment.
View Deal →Self-directed investors seeking a balance of low fees and trusted big-bank backing will find CIBC Investor’s Edge a dependable choice. It combines competitive pricing with reliable tools within Canada’s banking framework.
Pros:
- Competitive commission rates suitable for cost-conscious investors
- Access to a solid set of trading tools for managing investments
- Operates within a major Canadian bank offering added security
Cons:
- Fewer advanced trading features compared to specialized discount brokers
- Less attractive pricing than some zero-commission competitors
- May not offer as many commission-free ETFs or research resources as some rivals
Final Words
To make the most of your trading experience this January, take time to compare the features, fees, and tools of leading Canadian platforms to find the best fit for your investment goals. You can explore current offers and promotions to ensure you get the best value and support for your trading needs.
Frequently Asked Questions
Questrade is recognized as the best overall platform due to its $0 commissions on Canadian and U.S. stock and ETF trades, advanced trading platforms like Questrade Pro, and strong tools suited for both active traders and long-term investors.
Questrade provides advanced platforms including Questrade Pro, which offer robust tools for active trading and long-term investing, making it suitable for a wide range of investor needs.
No, Questrade charges $0 commissions on Canadian and U.S. stock and ETF trades, helping investors reduce their trading costs significantly.
Investors should consider factors like commission fees, trading tools, platform usability, and the types of securities offered. Also, choosing a regulated broker that offers investor protection through CIPF is crucial for asset safety.
Yes, several Canadian platforms like Questrade, Wealthsimple Trade, and National Bank Direct Brokerage offer $0 commissions on stock and ETF trades, making commission-free trading a popular feature.
Wealthsimple Trade is ideal for beginners due to its mobile-first design, commission-free trading on stocks and ETFs, and access to cryptocurrency, though it has a simpler feature set compared to more advanced platforms.
