Best Stock Trading Platforms in Canada

You’ve finally decided to get an online broker to help you with investing your money, but you don’t really know where to start looking. Good news, we’re here to help you! We’ve taken the liberty of researching the best online brokers in Canada and have made a nice guide below to help you in your quest for investing your money!

Canada’s Best Online Brokers

Now don’t be fooled by thinking you have to have a lot of money to start investing, that’s just an old wives’ tale. In fact, you can start out with as little as $100. We’ve picked some of Canada’s best online brokers to help you with your investments – there’s a broker for every need, even if you’re a newbie to the whole investing scene.

Top 5 Best Online Brokers In Canada

Wealthsimple Trade

We found that Wealthsimple has the best options for anybody new to online trading or for someone who likes to keep things simple. If you don’t have a lot of money to invest or you just want to start out small, then this online broker has everything you will need to get started! If you are a day trader or a long term investor WealthSimple is one of the best online trading platforms in Canada.

Important Factors

  • No Trading Fees
  • Unlimited Trades
  • No Minimum Deposit
  • 5% Currency Conversion Fee
  • Only Available Platform Is Mobile
  • Accounts Insured Up To $500K


This is one of Canada’s best online brokers and has been around for a long time. With their low trading commissions and fees, you will find all the comfort needed in making your online trading a success.

Important Factors

  • EFTs Are Free To Buy
  • Trading Commissions Range From $4.95 To $9.95
  • One Trade Per Quarter And Maintain $1,000 Balance To Avoid The Quarterly Fee Of $24.95
  • Accounts Insured Up To $10 Million
  • Receive Rebate Up To $150 For Outgoing Transfer Fees*

*Check website for more details on rebates.

Qtrade Investor

If you’re a young investor or plan on making a lot of trades, you will want to check out Qtrade Investor for all your online trading needs. But keep in mind, if you just want to test the waters first – this might not be the best option for you.

Important Factors

  • Trading Equities Fee Reduced For Investors Between The Age Of 18 To 35, And Also For Anybody Making 150+ Trades Per Quarter
  • Mutual Funds And ETFs Are Free For Trading
  • Account Balance Over $25K Is Waived The Quarterly Fee Of $25
  • Closing Account Fee Is $100 (Within 1 Year Of Opening)

BMO InvestorLine Self-Directed

If you’re a seasoned investor who doesn’t need any advice when trading, then BMO InvestorLine Self-Directed is a good option for you to try. All the options they support with nominal fees make them a clear choice for the more experienced online investor.

Important Factors

  • Trades Cost $9.95 Each
  • Balances Below $15K With Non-Registered Accounts Has A $25 Quarterly Fee
  • Registered Accounts Or Clients Performing Two Commissionable Trades In 6-Months Can Get The $25 Quarterly Fee Waived
  • Accounts Insured Up To $1 Million

TD Direct Investing

We chose TD Direct Investing as one of Canada’s best online brokers because their online platform is one of the most extensive resources for any online investing. In fact, they even offer different dashboards based on your experience and needs. This online broker’s fees might be a bit higher than most, but worth it if you want something tailored to fit your trading habits.

Important Factors

  • Trades Cost $9.95 Each For Canadian & US Stocks
  • Trade Reduced Cost Of $7 Per Trade With 150+ Trades Per Month
  • Extensive Online Library Of Investing Tools, Videos, And Webinars
  • Mutual Funds Are Free For Trading

Why Choose An Online Broker?

Other than convenience, it’s the best way to manage your investments yourself – some people like to have complete control over their investments. However; we do recommend anyone with an investment portfolio worth over $250,000 to consider using a traditional broker who is an expert in the type of investing you want to do.

When it comes to the fees charged, you will definitely save money with the flat fees when using one of Canada’s best online brokers versus the percentage of your assets the traditional brokers might charge, which can be huge. However; you will not have access to the expertise traditional brokers have, nor will you be able to ask any pressing questions that might arise during your trading experience.

  • But you should have all the resources needed to get all the answers you need from the many tools available with online broker platforms.
  • Plus, you always have the ability to trade at any time with online brokers, whereas you would need to factor in your traditional broker’s office hours when wanting to make a trade.
  • If you are doubting whether or not to try an online broker, you can always discuss the options your current financial institution is offering – but again, you’re restricted to banking hours.

There are plenty of online brokers to choose from, but be sure to check their credentials before spending any money with trades through their platform. We strongly suggest you use the above guide to see which of Canada’s best online brokers is right for you.

How Can An Online Broker Work For You?

It’s actually quite simple, the online broker will handle all the buying and selling of investments through various stock exchanges. This includes mutual funds, bonds, ETFs, Stocks, and other types of investments.

When signing up with one of Canada’s best online brokers, you will gain access to their platform and resources. However; keep in mind that there are fees associated with some transactions, account balances, and the number of trades you do monthly or quarterly. It is always a good idea to compare these fees and see where you will fall when considering how much you have in your portfolio and how often you will be making trades.

You ultimately make all the decisions, so be certain that is something you are ready to do. If you are just starting to dabble in the market, then we recommend starting with our top choice Wealthsimple Trade – it’s the most cost-effective way to get started and test out the online broker’s world.

Choosing One Of Canada’s Best Online Brokers

When you first start looking at all the different options online brokers are offering, you might be overwhelmed by the choices and or the attention-grabbing offers for new customers. But we want you to make the best-informed decision, so here are our best tips for choosing an online broker.

  1. Know your investing budget and how often you plan on making a trade – this will help you decide which online broker has the best fee schedule based on your planned activity. Also, take into consideration that some online brokers will have an account minimum that has to be maintained in order to avoid the additional fee.

Other fees to consider are currency conversion, account maintenance, and inactivity. Some online brokers will offer reduced fees when you meet specific requirements like the number of trades you make monthly or quarterly.

  1. Take the time to look into the online brokers’ platform and see if it is user-friendly or too complicated. Maybe you need more resources or fewer options. Watch the free videos and tutorials they provide on their website and see if the way they operate looks interesting to you.

If they post reviews on their website, be sure to read them all – you never know what you can learn from somebody else’s experience! This is also a great way to find out about hidden costs that you may have overlooked.

  1. Understand the risks associated with trading, it sounds silly – but the risks are real and you could end up losing some or all of your money with trading. Find out which options are safest if you aren’t willing to take big risks – either way, do your homework!

Online trading has become very popular over the years and a lot of people enjoy controlling their portfolio themselves. It can be a fun way to make money, but it can also be a heavy burden if not done properly.

Make sure you have covered all the bases we have mentioned above in this article before opening an account with an online broker.

Note: There could be incentives offered during different times of the year, so be sure to look for any sign-up bonuses or interesting incentives at the time of opening your account.

Wrapping Up

Trying one of Canada’s best online brokers is the best way to see if you like doing your own trades. However, we do recommend first-time users to keep your risks low while learning how to make the most out of online trading. Start by looking for an online broker that has no fee for closing your account if it doesn’t work out and no minimum balance requirements.

If you’re ready, you can open up an account today with one of Canada’s best online brokers and start your online trading journey now!

Register New Account