Choosing the best investing apps in Canada comes down to how you want to grow your money. Some apps are built for simple, low-cost investing in stocks and ETFs, while others offer more advanced tools, global markets, and portfolio features. The key is finding an app that balances fees, usability, and investment options in a way that matches your strategy.
The best investment apps in Canada combine strong regulation (CIRO oversight), CIPF protection (up to $1 million), and competitive pricing in Canadian dollars ($). Leading options include Plus500, eToro, Wealthsimple, Questrade, Interactive Brokers, TD Direct Investing, BMO InvestorLine, RBC Direct Investing, CIBC Investor’s Edge, and Desjardins Disnat—each offering a mix of low fees, access to Canadian and global markets, and support for registered accounts like TFSA and RRSP. While some platforms focus on simplicity and $0 commission trading, others provide advanced tools, deeper market access, and institutional-grade pricing.
Our picks of best investing apps in Canada
- Plus500 – Best for beginners who want a simple, mobile-first platform backed by educational materials and risk-free demo account, with a low minimum deposit (from ~$100) and straightforward access to global markets.
- eToro – Best for casual investors looking for commission-free stock investing ($0), copy trading, and access to 3,000+ global assets.
- Wealthsimple – Best for Canadians seeking $0 commission trading on stocks and ETFs, plus seamless TFSA and RRSP accounts in a fully local app.
- Questrade – Best for long-term investors who want $0 ETF purchases, stock trades from ~$4.95–$9.95, and flexible account options.
- Interactive Brokers – Best for advanced traders needing global market access (90+ exchanges) and low commissions (from ~$0.0035 per share).
Compare the best investment apps in Canada for 2026
The best investment apps in Canada differ mainly in trading costs ($), available markets, platform usability, and regulatory protection (CIRO oversight + CIPF coverage up to $1 million). Some platforms focus on $0 commission investing and simplicity, while others offer advanced tools, lower FX fees, and access to global exchanges (90+ markets). The table below compares the leading apps across the factors that most directly impact costs, flexibility, and investor protection.
What makes an investment app “best” in Canada?
The best investment apps in Canada share a focused set of qualities that directly affect safety, cost efficiency, and ease of use. While features and pricing vary, the strongest platforms consistently meet the standards expected under CIRO regulation and CIPF protection (up to $1 million), while offering competitive pricing in Canadian dollars ($).
- Strong regulation and investor protection: Platforms are typically regulated by CIRO (Canadian Investment Regulatory Organization) and provide CIPF coverage up to $1 million, ensuring client assets are protected if a firm becomes insolvent.
- Transparent, competitive trading costs: Low and clearly disclosed fees—such as $0 commission trading, flat fees (~$4.95–$9.95 per trade), or low FX conversion costs (~0.2%–1.5%)—help investors manage total costs effectively.
- Access to Canadian and global markets: The best apps offer exposure to TSX-listed stocks, US equities, and often 90+ global markets, alongside ETFs, options, and sometimes bonds or mutual funds.
- Support for registered accounts (TFSA, RRSP): Leading platforms allow investors to grow wealth tax-efficiently through Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Plans (RRSP), which are essential for Canadian investors.
- Reliable and easy-to-use platforms: Stable mobile and web apps, fast execution, and intuitive design make it easier to manage portfolios, place trades, and monitor performance without friction.
The platforms featured in this guide perform consistently well across these criteria, which is why they stand out as the best investment apps in Canada.
Plus500 – Best for beginners thanks to their risk-free demo account
Plus500 offers a clean trading experience focused on ease of use, fast execution, and straightforward pricing thanks to their risk-free demo account and dedicated Trading Academy. In Canada, it operates as a CFD trading platform, meaning you’re speculating on price movements rather than owning the underlying assets. That distinction matters: it’s simple and accessible, but it’s not designed for long-term investors building TFSA or RRSP portfolios. Still, for users who want a low entry point (from ~$100) and exposure to global markets (stocks, indices, forex, commodities), it does the job efficiently.
Plus500 operates in Canada under CIRO regulatory standards, which ensures oversight around client fund segregation and transparency. However, because it offers CFDs rather than securities, it does not provide CIPF protection (up to $1 million). Client funds are instead held in segregated accounts with tier-1 banks, which protects against firm insolvency but does not cover trading losses.
Plus500 uses a spread-based pricing model, so there are no commissions on trades. Typical spreads start around ~0.6–1.0 pips, depending on the asset and market conditions. There are no deposit or withdrawal fees in most cases, but traders should factor in overnight funding costs for leveraged positions and an inactivity fee (~$10/month after 3 months). Pricing is simple, though not always the cheapest for frequent or long-term strategies.
Plus500 provides access to global markets, including CFDs on US and international stocks, indices like the S&P 500, commodities such as gold and oil, and forex pairs. However, users do not own the underlying assets, and the platform does not support TSX-listed stocks in a traditional sense, ETFs, mutual funds, or bonds ownership, or registered accounts like TFSA and RRSP. It is built for trading rather than long-term investing.
The platform is designed for simplicity, with a clean interface, fast execution, and real-time pricing. Both the web platform and mobile apps (iOS & Android) offer a consistent experience, with built-in tools like stop-loss orders, price alerts, and basic charting. While it lacks deep analytics or advanced trading tools, it performs well for users who value speed and ease of use.
Plus500 is best for beginners and casual traders who want a simple way to trade global markets with a low minimum deposit (~$100). Plus500 offers demo trading account, access to their Trading Academy and dedicated webinars for novice traders. It suits those interested in short-term trading and CFDs, rather than investors focused on long-term portfolios, ETFs, or tax-efficient accounts.
eToro – Best for casual investors who want a simple, social-style investing experience
eToro is built around simplicity, accessibility, and social investing, making it one of the easiest platforms to get started with. Canadian users can access global stocks and ETFs with $0 commission, alongside features like copy trading and ready-made portfolios. However, availability and protections differ from local brokers, so it’s best viewed as a global investing app with partial Canadian support, rather than a fully domestic platform.
eToro is regulated globally (e.g. FCA in the UK, ASIC in Australia), but it is not a CIRO-regulated broker in Canada. That means Canadian users do not receive CIPF protection (up to $1 million).
Instead, protection depends on the jurisdiction of the entity you’re onboarded with, which introduces more complexity compared to local Canadian platforms.
eToro offers $0 commission trading on stocks, which is appealing for casual investors. However, real costs come through:
- FX conversion fees (~0.5%–1.5%) when moving between CAD and USD
- Crypto trading fees (~1%)
- Spread-based pricing on CFDs
There’s also a $5 withdrawal fee and an inactivity fee (~$10/month after 12 months) . Overall, pricing is simple but can become less competitive for frequent or FX-heavy trading.
eToro focuses on global markets, offering:
- US and international stocks
- ETFs and thematic portfolios
- Crypto and CFDs
However:
- Limited direct access to TSX-listed stocks
- No TFSA or RRSP accounts
- No traditional long-term investment structures
It’s better suited to flexible, global investing rather than Canada-specific portfolio building.
This is where eToro stands out. The platform is highly intuitive, with:
- A clean interface and simple trade execution
- Unique CopyTrader feature (replicate other investors)
- Built-in portfolio tracking and social feeds
The mobile app mirrors the web experience closely, making it one of the most beginner-friendly platforms globally.
eToro is best for casual and beginner investors who want simple access to global markets, and those interested in social or copy trading. It’s less suitable for investors who need Canadian accounts (TFSA/RRSP) or strong domestic regulatory protection.
Wealthsimple – Best for Canadians who want $0 commission investing with full local support
Wealthsimple is one of the most established fintech platforms in Canada, known for $0 commission trading, no minimum deposit, and seamless integration with TFSA and RRSP accounts. It combines simplicity with strong regulatory backing, making it one of the most practical choices for long-term Canadian investors.
Wealthsimple is a CIRO-regulated investment dealer, meaning it meets Canadian standards for client protection and transparency. Client assets are eligible for CIPF protection up to $1 million, which covers assets if the firm becomes insolvent (not market losses). This makes it one of the most secure and locally aligned platforms for Canadian investors.
Wealthsimple is known for $0 commission trading on stocks and ETFs, which significantly lowers entry costs.
Key costs to consider:
- FX fee ~1.5% when converting CAD ↔ USD
- Optional USD account (~$10/month) to reduce repeated FX costs
- Managed investing fees from ~0.5% down to 0.2% depending on balance
Overall, it’s one of the lowest-cost platforms in Canada, especially for long-term investors.
Wealthsimple is designed specifically for Canadian investors, offering:
- TSX-listed stocks and US equities
- ETFs and crypto assets
- Full support for TFSA, RRSP, FHSA, and taxable accounts
However, it has some limitations:
- No access to options (limited rollout) or advanced instruments
- No direct access to global exchanges beyond North America
Still, for most investors, it covers everything needed for long-term portfolio building.
Wealthsimple is widely regarded as one of the best-designed investment apps in Canada, with:
- A clean, intuitive interface
- Easy portfolio tracking and automation
- Features like fractional shares, recurring investments, and auto-deposits
The mobile app is particularly strong, offering a smooth, beginner-friendly experience without overwhelming users.
Wealthsimple is best for beginners and long-term investors who want a low-cost, simple, and fully Canadian-compliant platform. It’s especially strong for users focused on TFSA and RRSP investing, passive portfolios, and buy-and-hold strategies.
Questrade – Best for ETF investors and cost-conscious DIY portfolios
Questrade is one of Canada’s most established online brokers, known for its low-cost structure, especially $0 ETF purchases, and strong support for self-directed investors. It strikes a balance between affordability and functionality, offering access to Canadian and US markets alongside registered accounts like TFSA and RRSP. For investors building long-term portfolios, it remains one of the most practical options in Canada.
Questrade is a CIRO-regulated investment dealer, meaning it adheres to Canadian standards for client protection and operational transparency. Client assets are covered by the Canadian Investor Protection Fund (CIPF) up to $1 million, which protects against broker insolvency (not market losses). This places Questrade firmly within the core group of trusted Canadian platforms.
Questrade’s pricing is built for cost-conscious investors:
- $0 commission on ETF purchases (a major advantage for passive investors)
- Stock trades ~$4.95–$9.95
- Options priced from ~$9.95 + $1 per contract
- FX conversion costs typically ~1.5%–2.0%, though users can reduce this using Norbert’s gambit
There are no inactivity fees under standard conditions, making it one of the most cost-efficient platforms for long-term investing in Canada.
Questrade offers strong coverage across:
- TSX-listed stocks and US equities
- ETFs, options, mutual funds, and forex
- Full support for TFSA, RRSP, RESP, and margin accounts
It also offers Questwealth Portfolios (robo-advisor) for hands-off investors. Overall, it provides broad market access with flexibility for different strategies.
Questrade delivers a functional and reliable platform, though less polished than newer apps like Wealthsimple. Key features include:
- Advanced charting and research tools
- Real-time data and fast execution
- Mobile app with improving usability
It’s best described as practical rather than sleek, with enough tools for both beginners and intermediate investors.
Questrade is best for DIY investors and ETF-focused portfolios, particularly those looking to minimise costs over the long term. It suits users comfortable managing their own investments and wanting more flexibility than beginner-only apps.
Interactive Brokers – Best for advanced investors seeking global market access and ultra-low fees
Interactive Brokers (IBKR) is designed for serious investors who want professional-grade tools, global market access (90+ exchanges), and some of the lowest trading and FX fees available in Canada. It’s not the simplest platform, but for experienced users, it offers unmatched flexibility and pricing efficiency.
Interactive Brokers Canada is a CIRO-regulated broker, and client accounts are protected under CIPF up to $1 million. In addition, IBKR is part of a global group with multi-jurisdictional oversight (SEC, FINRA, FCA), adding another layer of institutional credibility.
IBKR is widely regarded as one of the lowest-cost platforms globally:
- Stock commissions from ~$0.0035 per share
- Options and futures priced competitively
- FX conversion costs as low as ~0.2 basis points (0.002%), far below most Canadian brokers
There are no inactivity fees, and pricing is highly transparent. For active traders or investors dealing in multiple currencies, this can result in significant cost savings over time.
Interactive Brokers offers one of the broadest market selections available:
- 90+ global exchanges across North America, Europe, and Asia
- Full access to TSX stocks, US equities, ETFs, options, futures, forex, and bonds
- Supports TFSA, RRSP, and margin accounts
This makes it one of the few platforms suitable for globally diversified portfolios and advanced strategies.
IBKR’s platform is powerful but complex:
- Trader Workstation (TWS) offers advanced analytics, algorithms, and order types
- Mobile and web apps provide simplified access, but still require a learning curve
- Highly reliable execution and institutional-grade infrastructure
It’s best suited to users who prioritise functionality over simplicity.
Interactive Brokers is best for experienced and active investors who want low fees, global diversification, and advanced tools. It’s less suitable for beginners due to its steeper learning curve.
TD Direct Investing – Best for investors who want a full-service, bank-backed platform
TD Direct Investing combines full-service brokerage features with the trust and infrastructure of TD Bank, one of Canada’s largest financial institutions. It offers access to a wide range of assets, strong research tools, and seamless integration with everyday banking, making it a solid choice for investors who value reliability and support over lowest cost.
TD Direct Investing is a CIRO-regulated broker, and client assets are covered by CIPF protection up to $1 million. As part of TD Bank Group, it benefits from strong institutional backing and is widely considered one of the most secure platforms in Canada.
TD’s pricing is straightforward but not the cheapest:
- ~$9.99 per stock trade (discounts may apply)
- Options trades typically ~$9.99 + $1.25 per contract
- FX conversion costs typically ~1.5%–2.0%
There are no commission-free trades, but investors gain access to premium tools, research, and support.
TD Direct Investing offers comprehensive access:
- TSX and US stocks, ETFs, options, mutual funds, bonds, GICs
- Full support for TFSA, RRSP, RESP, and other account types
- Integration with TD banking for seamless fund transfers
It’s a complete investing solution, particularly for long-term investors.
TD provides multiple platforms:
- WebBroker for everyday investing
- thinkorswim for advanced analysis and trading
- Mobile apps with full functionality
Execution is reliable, and the platform is supported by extensive research tools, market insights, and customer service, including in-branch support.
TD Direct Investing is best for investors who want a trusted, full-service platform with strong research, education, and support, even if it comes at a higher cost. It suits those already banking with TD or looking for an all-in-one financial ecosystem.
BMO InvestorLine – Best for investors who want bank-backed investing with strong research tools
BMO InvestorLine is a full-service brokerage backed by BMO Financial Group, one of Canada’s largest banks. It offers a broad range of investments, including stocks, ETFs, options, bonds, and GICs, alongside a growing list of commission-free ETFs. It’s designed for investors who value stability, integrated banking, and high-quality research, even if trading costs are slightly higher.
BMO InvestorLine is a CIRO-regulated investment dealer, and client accounts are protected by the Canadian Investor Protection Fund (CIPF) up to $1 million. As part of BMO Financial Group, it benefits from strong institutional oversight and is considered a secure, well-established option for Canadian investors.
BMO’s pricing is typical of bank-owned brokerages:
- ~$9.95 per stock trade
- Options typically ~$9.95 + $1.25 per contract
- Access to a list of commission-free ETFs
- FX conversion costs typically ~1.5%–2.0%
While not the cheapest, the pricing is transparent and predictable, and the inclusion of $0 commission ETFs improves long-term cost efficiency.
BMO InvestorLine offers comprehensive access:
- TSX and US stocks, ETFs, options, bonds, mutual funds, GICs
- Full support for TFSA, RRSP, RESP, and taxable accounts
- Integrated experience with BMO banking services
It’s designed as a complete investment solution, suitable for diversified portfolios.
The platform is stable and reliable, with:
- A functional web interface and mobile app
- Strong research tools, market insights, and screeners
- Educational content and portfolio tracking features
While not the most modern interface, it delivers a consistent and dependable experience, particularly for long-term investors.
BMO InvestorLine is best for investors who want a trusted, bank-backed platform with broad asset access and research tools. It suits those who prioritise security, integration, and support over the lowest trading costs.
RBC Direct Investing – Best for investors who want a full-service platform with strong research and IPO access
RBC Direct Investing is a well-established brokerage backed by the Royal Bank of Canada, offering a full range of investment products and access to exclusive research and IPO opportunities. It’s built for investors who want a comprehensive, bank-integrated platform with strong analytical tools and long-term portfolio support.
RBC Direct Investing is a CIRO-regulated broker, and client accounts are covered by CIPF protection up to $1 million. As part of Royal Bank of Canada, the country’s largest bank, it offers a high level of trust, stability, and regulatory compliance.
RBC’s pricing is aligned with other bank brokers:
- ~$9.95 per stock trade
- Options trades typically ~$9.95 + $1.25 per contract
- FX conversion costs typically ~1.5%–2.0%
There are no commission-free stock trades, so costs are higher than discount platforms, but you gain access to premium research and services.
RBC Direct Investing provides full access to:
- TSX and US stocks, ETFs, options, bonds, mutual funds
- Participation in IPO offerings (a key differentiator)
- Full support for TFSA, RRSP, RESP, and taxable accounts
It’s a well-rounded platform for diversified, long-term investing.
The platform is reliable and supported by strong infrastructure:
- Web platform with robust research tools and analytics
- Mobile app with full trading functionality
- Access to RBC research, insights, and reports
While the interface is more traditional, it offers depth and reliability over simplicity.
RBC Direct Investing is best for investors who want a full-service, research-driven platform with access to IPO opportunities and bank integration. It suits those focused on long-term investing with strong institutional backing.
CIBC Investor’s Edge – Best for cost-conscious investors who want a bank-backed platform
CIBC Investor’s Edge positions itself as the lowest-cost option among Canada’s Big Five bank brokerages, offering a balance between affordability, bank integration, and solid core features. It’s particularly appealing for investors who want reliable execution and access to Canadian and US markets, without paying the higher ~$9.95 fees seen at other bank platforms.
CIBC Investor’s Edge is a CIRO-regulated investment dealer, meaning it meets Canadian standards for client protection and transparency. Client assets are covered by the Canadian Investor Protection Fund (CIPF) up to $1 million, protecting against broker insolvency.
As part of CIBC (one of Canada’s Big Five banks), it benefits from strong institutional backing and is considered a secure, mainstream option.
CIBC Investor’s Edge stands out for offering the lowest standard commissions among major Canadian banks:
- ~$6.95 per stock or ETF trade (vs ~$9.95 elsewhere)
- ~$4.95 per trade for active traders (100+ trades/quarter)
- Options pricing: ~$6.95 + $1.25 per contract
- FX conversion costs typically ~1.5%
While still more expensive than $0 commission platforms, it offers strong value within the bank brokerage category.
CIBC Investor’s Edge provides full access to:
- TSX-listed stocks and US equities
- ETFs, options, bonds, GICs, and new issues
- Full support for TFSA, RRSP, RESP, and margin accounts
It’s a complete, traditional brokerage experience, suitable for long-term investors building diversified portfolios.
The platform is functional and reliable, offering:
- Real-time quotes, basic charting, and research tools
- Mobile app for trading and portfolio tracking
- Integration with CIBC banking for instant transfers
The interface is solid but less refined than competitors like TD or Wealthsimple. It prioritises functionality over design.
CIBC Investor’s Edge is best for investors who want a bank-backed platform with lower trading fees, particularly existing CIBC customers. It suits those who trade occasionally and want reliable access to markets without overpaying on commissions.
Desjardins Disnat – Best for $0 commission trading with full Canadian account support
Desjardins Disnat (Desjardins Online Brokerage) is one of the few Canadian platforms offering $0 commission trading on stocks and ETFs, while still providing access to a full range of accounts and assets. Backed by Desjardins Group, it combines low costs with broad functionality, making it a strong alternative to both discount brokers and bank platforms.
Desjardins Disnat is a CIRO-regulated brokerage, with client accounts protected under the CIPF up to $1 million. As part of Desjardins Group, one of Canada’s largest financial cooperatives, it provides a high level of trust and stability, particularly for Quebec-based investors.
Disnat’s biggest strength is its pricing:
- $0 commission trading on stocks and ETFs
- No trading fees on many transactions, helping reduce long-term costs
- FX fees typically ~1.5%–2.0%
- Account fees may apply (~$30/quarter) if balance thresholds aren’t met
This makes it one of the most cost-effective platforms in Canada, especially for frequent investors.
Disnat offers broad market access:
- Canadian and US stocks, ETFs, options, bonds, IPOs
- Full support for TFSA, RRSP, RESP, FHSA, and more
It’s a complete investing platform, covering both beginner and advanced needs.
Disnat offers two main platforms:
- Disnat Classic – simpler interface for everyday investors
- Disnat Direct – more advanced tools with real-time data and charting
The experience is reliable, though slightly less polished than newer fintech apps. It focuses on functionality and research tools over design.
Desjardins Disnat is best for cost-focused investors who want $0 commission trading without sacrificing access to registered accounts and full market coverage. It’s particularly strong for long-term investors and frequent traders.
Are investing apps in Canada safe?
Investment apps in Canada are generally safe when they operate under the country’s regulated financial framework, but safety depends on how the platform is regulated, what products you’re investing in, and how client funds are handled.
Strong regulatory oversight in Canada
Canadian investment apps that offer stocks, ETFs, and other securities must be regulated by the Canadian Investment Regulatory Organization (CIRO), which oversees investment dealers and trading activity across the country.
CIRO enforces strict rules on:
- Capital adequacy, ensuring firms maintain sufficient financial resources
- Segregation of client funds, meaning your money is held separately from the broker’s own capital
- Ongoing compliance, reporting, and audits
In addition, firms must comply with provincial regulators such as the Ontario Securities Commission (OSC) and Autorité des marchés financiers (AMF). This multi-layered system significantly reduces the risk of fraud, insolvency, or misuse of client funds.
Investor protection: what is and isn’t covered
Investor protection in Canada depends on the type of assets held:
- Securities accounts (stocks, ETFs, bonds, mutual funds) are protected by the Canadian Investor Protection Fund (CIPF) up to $1 million per account type if a broker fails
- Cash balances within investment accounts are also covered under CIPF limits
- Crypto assets and CFDs are not covered by CIPF, as they are not classified as traditional securities
This distinction is essential. Platforms like Wealthsimple, Questrade, and Interactive Brokers Canada offer full CIPF coverage, while CFD-based or international platforms may not provide the same level of protection.
Additional safeguards at leading Canadian platforms
Many Canadian brokers go beyond minimum regulatory requirements:
- Bank-backed platforms (RBC, TD, BMO, CIBC) benefit from strong capital reserves and institutional oversight
- Some firms carry additional private insurance beyond CIPF limits
- Most apps implement two-factor authentication (2FA), encryption, and fraud monitoring
- Risk controls such as real-time alerts, trade confirmations, and margin monitoring help protect users
These safeguards improve both platform-level security and day-to-day account safety.
Platform risk versus market risk
Even on a fully regulated app, investing carries inherent risks:
- Stock and ETF prices fluctuate, sometimes sharply
- Currency (FX) movements impact returns on US investments
- Leverage (where available) increases both gains and losses
- Higher-risk assets like crypto or derivatives are more volatile and less protected
Regulation protects against broker failure, not market losses.
How to assess safety as a Canadian investor
An investment app in Canada is generally considered safe when it:
- Is regulated by CIRO and compliant with provincial authorities
- Clearly states CIPF coverage (up to $1 million)
- Segregates client funds with trusted custodians
- Discloses all fees, FX costs, and risks transparently
- Has a strong reputation or backing from a major financial institution
Investment apps in Canada operate within a well-regulated and mature financial system, and reputable providers offer a high level of operational safety. However, protection varies by product, so it’s important to understand what is—and isn’t—covered before investing.
Methodology: How We Score The Best Investment Apps in Canada
Each investment app featured in this guide was evaluated using a standardised, data-driven scoring framework designed to ensure fair, consistent, and transparent comparisons across Canadian platforms.
Platforms were assessed through hands-on testing of live and demo accounts, alongside detailed analysis of fee structures ($), product disclosures, platform features, and regulatory status (CIRO compliance and CIPF eligibility). The process combines practical usability testing, quantitative cost analysis, feature and market coverage reviews, and independent safety checks to reflect how each app performs in real-world investing conditions.
The scoring framework covers eight core categories:
| Scoring category | What we assess |
|---|---|
| Investing options | The ways users can invest, including long-term investing, active trading, robo-advisors, recurring investments, and access to advanced strategies |
| Products, markets, and assets | The range of tradable assets such as TSX stocks, US equities, ETFs, options, bonds, and crypto, plus access to international markets |
| Platforms and usability | Ease of use, design quality, speed, and stability across mobile and web platforms |
| Safety and reliability | CIRO regulation, CIPF protection (up to $1 million), company background, and overall trustworthiness |
| Deposits and withdrawals | Funding methods, processing times, fees, limits, and ease of moving money in Canadian dollars ($) |
| Fees and costs | Trading commissions, spreads, FX conversion fees, account charges, and other non-trading costs |
| Research and analysis tools | Charting, screeners, market data, news, and in-platform analytical features |
| Education and learning resources | Educational content quality, tutorials, webinars, and in-app guidance for investors |
Each category is scored on a 0–5 scale. Scores are then weighted based on their importance to Canadian investors, with factors such as regulation, fees, and market access carrying greater influence. The weighted results are combined to produce the overall platform rating, enabling clear, objective comparisons across the best investment apps in Canada.
How to pick the right investment app in Canada for you
Choosing the right investment app in Canada comes down to aligning the platform with your experience level, cost sensitivity, and investing style. Some apps prioritise $0 commission simplicity, while others offer advanced tools, global market access (90+ exchanges), or full-service banking integration. The categories below act as a shortcut to help match your needs to the right platform—without overthinking the decision.
If you’re a beginner and want the simplest way to start investing
- Wealthsimple – Offers $0 commission trading, no minimum deposit, and full support for TFSA and RRSP accounts, making it one of the easiest entry points for new investors.
- Plus500 – A simple, mobile-first platform with its own risk-free demo account, a low minimum deposit (~$100), designed for straightforward trading (though focused on CFDs, not long-term investing).
- eToro – Beginner-friendly with $0 commission stocks and copy trading, allowing users to follow experienced investors, though not CIRO-regulated.
If your priority is the lowest fees and long-term cost efficiency
- Wealthsimple – $0 commissions on stocks and ETFs, with predictable costs; ideal for long-term, passive investors.
- Desjardins Disnat – Also offers $0 commission trading, but with full account support (TFSA, RRSP, FHSA) and broader asset access.
- Questrade – $0 ETF purchases and relatively low stock trading fees (~$4.95–$9.95), making it cost-effective for building diversified portfolios.
If you want global market access and advanced tools
- Interactive Brokers – Access to 90+ global markets, with ultra-low commissions (~$0.0035/share) and FX costs as low as ~0.2 bps, ideal for experienced investors.
- Questrade – Offers access to US and Canadian markets, options, and forex, with a balance between usability and flexibility.
If you prefer a bank-backed platform with strong research and support
- TD Direct Investing – Backed by TD Bank, with access to thinkorswim, advanced tools, and in-depth research.
- RBC Direct Investing – Offers IPO access, strong analytics, and integration with Canada’s largest bank.
- BMO InvestorLine – Combines full-service investing with commission-free ETFs (selected list) and robust research tools.
If you want lower-cost trading but still prefer a bank platform
- CIBC Investor’s Edge – Lower commissions (~$6.95 per trade, down to ~$4.95 for active traders), making it the most cost-competitive among major banks.
If your focus is long-term investing with Canadian tax-efficient accounts
- Wealthsimple – Seamless access to TFSA, RRSP, and FHSA, with automation tools like recurring investments.
- Questrade – Strong support for TFSA, RRSP, RESP, plus flexibility for DIY portfolio building.
- Desjardins Disnat – Combines $0 commissions with full support for registered accounts, making it highly efficient for long-term investors.
If you want a simple trading-focused app rather than a full investment platform
- Plus500 – Designed for short-term trading with no commission and simple pricing, but lacks ownership of assets and registered accounts.
- eToro – Focused on global investing and social features, with easy access to markets but limited Canadian-specific features.
Use these categories as a quick filter: once you know whether you prioritise low fees, simplicity, global access, or full-service support, the right platform becomes much easier to identify.
How to open an investment app in Canada: step-by-step guide
Opening an investment app account in Canada is usually fully online and takes 10–20 minutes, with most accounts approved within 1–2 business days. The process is standardised across CIRO-regulated platforms, but the exact steps can vary slightly depending on the provider and account type.
Step 1: Choose a regulated investment app
Start by selecting a platform that is regulated by CIRO and offers CIPF protection (up to $1 million) for eligible accounts.
Decide what you need first:
- $0 commission investing (e.g. Wealthsimple, Disnat)
- Low-cost DIY investing (e.g. Questrade)
- Advanced tools and global access (e.g. Interactive Brokers)
- Bank integration and research (e.g. TD, RBC, BMO, CIBC)
This step determines your fees, available assets, and account types.
Step 2: Create your account online
Go to the app or website and complete the registration form. You’ll typically be asked for:
- Full legal name and date of birth
- Canadian address and residency status
- Social Insurance Number (SIN) (for tax reporting)
- Employment and income details
- Investment experience and risk tolerance
This is part of Canada’s Know Your Client (KYC) and anti-money laundering (AML) requirements.
Step 3: Verify your identity
Most platforms require identity verification before you can trade. This usually involves:
- Uploading a government-issued ID (passport or driver’s licence)
- Taking a selfie or live photo for verification
- In some cases, linking a Canadian bank account
Verification is often completed within minutes, but can take up to 1–2 days.
Step 4: Choose your account type
Canadian investment apps offer several account options. The most common are:
- TFSA (Tax-Free Savings Account) – No tax on gains or withdrawals
- RRSP (Registered Retirement Savings Plan) – Tax-deferred growth
- FHSA (First Home Savings Account) – Tax advantages for first-time home buyers
- Cash or margin account – For general investing without tax benefits
Choosing the right account type can have a significant impact on long-term returns.
Step 5: Fund your account in Canadian dollars ($)
Once approved, deposit funds using one of the supported methods:
- Interac e-Transfer (often instant or same day)
- Bank transfer (EFT) (1–3 business days)
- Wire transfer (for larger amounts)
Minimum deposits vary:
- $0 on many platforms (e.g. Wealthsimple, Questrade)
- Around $100+ for some trading-focused apps
Step 6: Start investing
After funding your account, you can begin investing. Most apps allow you to:
- Buy TSX-listed stocks and US equities
- Invest in ETFs, options, or other assets
- Set up recurring investments or fractional shares (on supported platforms)
Execution is typically instant during market hours, with real-time pricing available.
Step 7: Set up security and account preferences
Before investing regularly, enable key safety features:
- Two-factor authentication (2FA)
- Account alerts for trades and withdrawals
- Secure password and device settings
This helps protect your account alongside platform-level safeguards like fund segregation and encryption.
Step 8: Monitor and manage your portfolio
Once set up, use the app to:
- Track performance and portfolio allocation
- Rebalance investments over time
- Monitor fees, FX costs, and dividends
- Adjust your strategy based on goals or market conditions
Most platforms provide real-time dashboards, reports, and tax documents to support long-term investing.
Opening an investment app in Canada is straightforward, but the key decisions—platform choice, account type, and cost structure—have a lasting impact. Using a CIRO-regulated app with CIPF protection, funding in Canadian dollars ($), and aligning the account with your goals ensures a solid foundation from the start.
FAQs
Minimum deposits vary by platform. Some apps like Wealthsimple and Questrade allow $0 minimums, while others (especially trading-focused platforms) may require around $100+ to start. In practice, many Canadian investors begin with $100–$1,000 to build a diversified portfolio.
Yes, investment gains are taxed by the Canada Revenue Agency (CRA) depending on the account type.
- TFSA: 100% tax-free (no capital gains tax)
- RRSP: Tax-deferred until withdrawal
- Taxable accounts: Capital gains taxed at 50% inclusion rate
Understanding the tax structure can significantly impact long-term returns.
Most major Canadian platforms (e.g. Questrade, Interactive Brokers, TD Direct Investing) provide access to US markets like NYSE and NASDAQ, which together list 5,000+ companies. However, trades typically involve FX conversion fees (~1.5%–2.0%) unless you use a USD account or low-cost FX provider.
- CIRO (Canadian Investment Regulatory Organization) regulates investment dealers and ensures compliance with trading rules.
- CIPF (Canadian Investor Protection Fund) provides insurance coverage up to $1 million per account type if a brokerage becomes insolvent.
Both play different but complementary roles in protecting Canadian investors.
Yes, many modern platforms now support fractional shares, allowing investors to buy portions of high-priced stocks (e.g. Amazon or Tesla). Some apps also offer automated investing features, such as recurring deposits and portfolio rebalancing, which are commonly used by long-term investors aiming for consistent growth.
The best investing apps in Canada for beginners are Wealthsimple, eToro, and Plus500. Wealthsimple stands out for its $0 commission trading, simple interface, and full support for TFSA and RRSP accounts. eToro offers an easy entry point with copy trading features, while Plus500 is suited to beginners who want a simple trading-focused app and access to additional educational materials (eg. Trading Academy) and risk-free demo account.
The best app to invest in stocks in Canada depends on your experience level. Wealthsimple is the top choice for simplicity and commission-free investing, while Questrade is a strong all-round option with broader tools and account flexibility. For advanced investors, Interactive Brokers offers the lowest fees and access to global markets.
The main Canadian investing apps include Wealthsimple, Questrade, Interactive Brokers, and bank-backed platforms like TD Direct Investing and RBC Direct Investing. These apps are typically regulated by the Canadian Investment Regulatory Organization and offer protection through the Canadian Investor Protection Fund.
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