Do you wish to know about the Best 10 Stock Trading Apps in Canada? Here we discuss some of the popular and fast downloaded apps by Canadian investors.
Canadians have stepped up their investment strategies since last year. Investors were interested in building a diverse portfolio and increasing their earnings. They started using stock trading Apps and brokerage firms to make investments. These apps make it easy for them to purchase, sell, and hold the stocks they have in their portfolios.
Additionally, brokerage firms facilitate their trading and guide them through the process. The investment frenzy continued this year and many people have learned the importance of investing their funds. Because of this, online brokerage firms have improved their services, offer different securities, and build more stock trading Apps.
The firms focus more on stock trading platforms because it gives Canadians more control over their investments.
The Canadian Stock Trading Platforms
Stock trading platforms are software apps or websites where traders can perform trading activities. They’re digital platforms that offer digital trading tools to prospective traders. A trader or investor can purchase stocks and resell them later on a trading platform. Apart from stock purchases, this platform provides other financial investment services. Moreover, with digital trading apps, a trader doesn’t have to visit a physical brokerage office. He/she can just search online for the brokerage firms and access their digital platforms.
Brokerage firms have opened up in Canada and provide brokerage services including trading apps to Canadians.
Best 10 Canadian Stock Trading Platforms
Let’s get an overview of some of the Best Stock Trading Apps in Canada. A random selection of the popular trading platforms not in any sequential order!
1. Questrade Stock Trading Application:
Questrade provides an excellent digital investment platform for its clients. It doesn’t matter if you’re new to trading, or you’re experienced. Questrade’s app is developed in such a way that traders can use it easily.
Questrade App Features:
- A minimum of 1000 dollars must be in the account.
- Free ETF purchases with no commissions.
- Stock, Bond, ETF, and option trading are available.
2. Wealthsimple Trading App:
For each trade, Wealthsimple app charges its clients 9.99 dollars. To use the app, download the application on your personal computer or mobile device. Traders can also invest or trade in crypto coins. Professionals can use their accounts to invest. Even non-professional traders are not left out because the app is user-friendly. Unfortunately, the simplicity of the app doesn’t give room for advanced features.
Wealthsimple Trading App Features:
- Zero charges for stock and ETF trading.
- Stock and ETF trading are available.
- Clients can operate a zero trading account.
- Subscription rate of 10 dollars for traders in Canada.
- Subscribers enjoy many investment perks like higher deposits, and so on.
- Traders can not engage in margin trades.
3. Interactive Brokers Trading App:
Several financial institutions and professional traders in different countries use this trading platform. Interactive traders can trade in Canada and outside Canada too.
Interactive Brokers Trading App Features:
- No charges for opening accounts.
- You have to pay for each option trading you make.
- Investors can invest in Futures, Stocks, ETFs, crypto coins, and so on.
- For ETF trades, you’d pay a minimum amount of 1 dollar. The amount can increase for higher transactions.
4. CIBC Trading Application:
Students especially love to trade on the CIBC trading app due to its discounts and low charges.
CIBC Trading App Features:
- Users can operate a zero account.
- There is a 6.95 dollar charge for each trade.
- While students pay 5.95 dollars for each trade.
- The app has investment opportunities like stock, ETF, Option trading, and so on..
- There are maintenance fees for some account holders.
5. Qtrade:
The Qtrade trading application is well-used by credit societies. The trading charges on this app are higher than in other apps. However, its trading discounts make up for the higher rate. Traders that trade with a hundred ETFs can do so for free. You can download the app on your laptops and mobile phones.
Qtrade Trading App Features:
- The app offers zero minimum accounts
- Charges for each trade costs 8.75 dollars.
- Stock, ETF, Option trading, and many more can be found on the app.
- For those with accounts lower than 25000 dollars, you’d have to pay a fee to maintain it.
- The app only gives zero commission on ETFs for those that trade with 1000 dollars and above.
You may also like to explore Top 10 TradingView Alternatives
6. TD Investment Trading App:
TD Investing App is mostly preferred by those who trade in Options. The digital platform has been in existence for many years. TD provides various digital investment tools for its clients.
TD App Features:
- Zero account operation.
- Market surveys and data collected on the stock market are published on the app for users to read.
- The commission for each trade is 9.99 dollars.
- Trades like Stock, ETF, and Option trading are available.
- ETF trading incurs charges. In addition, TD’s trading platform is highly expensive.
You may also like to explore Best Stock Screeners in Canada.
7. Scotiabank iTrade:
This platform belongs to Scotiabank. Scotia iTrade offers an intuitive app to cater to your investing needs.
Scotia iTrade App Features:
- Commission for each trade starts from 9.99 dollars but can be reduced if your transactions increase.
- Yearly charges of 100 dollars if your account is below 25000 dollars.
- Gives demo accounts to new traders.
- Zero account charges.
- Foreign investment, Stock, ETF, Option trading, and other trading opportunities are available.
- Option and ETF investments incur extra charges.
- Inactive account holders will pay a certain amount of money.
8. BMO Investorline Trading App:
Another popular name in the list of stock trading apps is BMO Investorline Trading App.
BMO Investorline Trading App Features:
- Each trade costs 9.95 dollars.
- Yearly trading fee for accounts below 15000 dollars.
- Clients can operate a zero trading account.
- Clients can do stock, ETF, Option trading, and many more.
- Zero account registration fee.
- ETF and option traders will be an additional fee.
Also, have a look at the Best Robo Advisors in Canada
9. Mogo Trade App
Talking of trading app, Mogo Trade App also deserves a mention here.
Mogo Trade App Features:
- No charges for account registration.
- No trading commission.
- Clients can trade in Options.
- Inactive account holders and ETF traders don’t have to pay money.
- Clients can invest in stocks.
10. RBC-Direct Trading App
RBC Direct Trading App is good choice for beginner investors.
RBC Direct Trading App Features:
- An active trader pays 6.95 dollars for every trade he does.
- Each trade costs 9.95 dollars.
- Has a virtual community of traders that share information and help each other.
- Gives reward points to investors to use on the app.
Note: The information given above is on “as is” basis. The benefits, fees, commission and other charges are subject to variation. Please check the respective broker’s official site for any changes thereon.
Also checkout the Top Fintech companies in Canada that are gaining immense popularity.
Which are the Best Stock Trading Apps in Canada?
Trading Apps in Canada must be reliable and trustworthy. Plus, the investment platforms must be efficient and simple to use. This is why we listed the best trading apps above for investors to choose from. So, just download the trading app of your choice on your laptop or mobile device, register an account, and start your trading journey.
Which is the best stock trading app in Canada? Do share your feedback or experiences on any of the Canadian brokers and financial corporations, their products, services, and the investing and budgeting apps offered by them.