Best Trading Platforms For Beginners in Canada
Discover 6 deals available this month.
1.Wealthsimple Trade
Wealthsimple Trade offers commission-free trading on Canadian stocks and ETFs with a user-friendly mobile app, plus cryptocurrency trading with full wallet functionality. There are no trading fees for Canadian securities, making it accessible for beginner investors.
View Deal →Ideal for new investors seeking a straightforward, no-cost way to trade Canadian stocks and cryptocurrencies via an intuitive mobile platform. Wealthsimple Trade combines simplicity with essential features to ease beginners into investing.
Pros:
- Commission-free trading on Canadian stocks and ETFs
- Easy-to-use mobile app designed for beginners
- Access to cryptocurrency trading with full wallet features
Cons:
- Limited advanced trading tools for experienced investors
- No access to U.S. stock trading without fees
- Lacks extensive educational resources compared to some competitors
2.Questrade
Questrade offers $0 trading fees for Canadian and US stocks since February 2025, with no minimum investment required. It provides advanced tools for both casual and serious traders, including the Questrade Pro platform.
View Deal →Questrade stands out by combining zero commission trades with powerful tools suitable for all trader levels, making it a versatile choice in Canada’s competitive market. Its lack of minimum investment lowers the barrier for new investors while offering advanced features for professionals.
Pros:
- Zero trading fees for Canadian and US stocks
- No minimum investment required
- Includes advanced trading platform Questrade Pro
- Suitable for both casual and serious traders
Cons:
- No mention of free ETFs or commission-free options beyond stocks
- Advanced tools may have a learning curve for absolute beginners
- No specific details on customer service or education resources
3.Qtrade
Qtrade charges $8.75 per stock trade and offers over 100 commission-free ETFs, along with a free portfolio simulator and strong customer support. It's designed to help new investors learn and grow their portfolios effectively.
View Deal →Ideal for beginner investors seeking a hands-on learning experience, Qtrade combines accessible pricing with helpful tools like a free portfolio simulator and attentive customer service. It’s a solid choice for those ready to explore stock trading with some guidance.
Pros:
- Flat $8.75 fee per stock trade
- Access to more than 100 commission-free ETFs
- Free portfolio simulator for practice trading
- Exceptional customer service support
Cons:
- Trading fees are higher compared to some zero-commission platforms
- No mention of cryptocurrency trading options
- Limited appeal for very cost-conscious investors seeking zero fees
4.Interactive Brokers Canada
Interactive Brokers Canada offers global market access with competitive pricing starting at 1¢ per share, with a minimum of $1.00 per trade. It features award-winning platforms suitable for traders of all experience levels.
View Deal →Beginners seeking access to international markets will find Interactive Brokers a practical choice thanks to its low per-share fees and versatile platforms. It balances affordability with professional-grade tools across experience levels.
Pros:
- Competitive pricing at 1¢ per share with a $1.00 minimum per trade
- Access to global markets beyond Canada
- Award-winning trading platforms suitable for multiple experience levels
Cons:
- Minimum $1.00 per trade may be costly for very small orders
- Less emphasis on beginner-specific educational resources compared to some competitors
- Platform complexity might overwhelm absolute beginners
5.National Bank Direct Brokerage
National Bank Direct Brokerage offers commission-free trading with a $1,000 minimum investment requirement. It is a low-cost option tailored for beginner investors.
View Deal →Cost-conscious beginners will find value in National Bank Direct Brokerage’s zero-commission trading, though the upfront $1,000 minimum may be a hurdle for some.
Pros:
- No trading commissions on stocks and ETFs
- Suitable for investors focused on minimizing trading costs
- Regulated and provides investor protection through CIPF
Cons:
- Requires a $1,000 minimum investment to open an account
- Limited educational resources compared to some competitors
- May not be ideal for very small or casual investors due to minimum deposit
6.TD Direct Investing
TD Direct Investing charges $9.99 per trade and provides investor education resources, making it suitable for beginners seeking learning support. It offers solid trading and research tools for new investors.
View Deal →Beginners looking for a straightforward platform with educational support will find TD Direct Investing a dependable choice at a moderate trading fee. Its $9.99 commission is balanced by helpful learning materials and solid research tools.
Pros:
- Investor education resources available
- $9.99 per trade, providing clear pricing
- Offers solid trading and research tools
Cons:
- Higher trading fees compared to some competitors with zero-commission trades
- Lacks commission-free ETF or stock trading options
- No mention of minimum investment requirement which could affect beginners
Final Words
To find the best trading platform for your needs this January, take time to compare fees, features, and educational tools across top Canadian brokers to ensure you get the most value and support as you start your investing journey. You can explore current offers and promotions to make a well-informed choice that fits your goals.
Frequently Asked Questions
Wealthsimple Trade is ideal for beginners due to its clean, easy-to-use mobile app that offers commission-free trading on Canadian stocks and ETFs. It also provides access to cryptocurrency trading with full wallet functionality, making it versatile for new investors.
No, Wealthsimple Trade offers commission-free trading on Canadian stocks and ETFs, allowing beginners to invest without worrying about trading fees.
Yes, Wealthsimple Trade includes cryptocurrency trading with full wallet functionality, enabling users to buy, sell, and hold cryptocurrencies directly within the app.
Beginners should look for platforms with user-friendly interfaces, low or no trading fees, and educational resources. It's also important to choose brokers regulated by CIRO and protected by CIPF for safety.
Some platforms like Questrade have no minimum investment required, while others like National Bank Direct Brokerage require a minimum investment of $1,000. It's important to check each platform's requirements before starting.
Trading fees range from commission-free options like Wealthsimple Trade to platforms charging per trade, such as Qtrade at $8.75 per stock trade. Choosing a platform depends on your trading frequency and budget.
