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- 1. Top 6 best investing apps & platforms in Canada in 2024
- 2. Best investment apps Canada for 2024
- 3. What is the best investment platform in Canada?
- 4. Top 6 investment platforms & apps in Canada, reviewed
- 5. What is an investment app?
- 6. The different types of investment platform in Canada
- 7. How do investment platforms work?
- 8. How much do Canadian investment apps cost?
- 9. How should I choose an investment app?
- 10. Should I use an investment app from Canada?
- 11. Methodology: How did we choose the best investment apps in Canada?
- 12. FAQs
Top 6 best investing apps & platforms in Canada in 2024
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Trade your favourite markets with our top-rated broker, .
4.4/575% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Retail investing platforms & apps in Canada have soared in popularity over the last couple of years. More investments are made on mobile phones than ever before and the process is easier than ever as well.
Our team of finance & trading experts have trialled the best investment apps in Canada, rating, ranking and comparing the results in order to guide you towards your perfect investment app.
Research for these reviews included scoring each service according to its cost of trading, the range of assets available, and its regulatory status. The scores are tallied up to produce the final ranking, and adjusted according to the average user review from surveys conducted by the Invezz team.
Best investment apps Canada for 2024
Copy link to section- IG Markets: Best for trusted and transparent trading
- XTB: Best for offering global CFD markets to retail traders
- Eightcap: Best online broker for choice of trading platform
- AvaTrade: Best regulated broker for secure trading
- Pacific Union: Best for social trading & customer support
What is the best investment platform in Canada?
Copy link to sectionOur experts rate Bitget as the best investing app in Canada available today. Below are three more top investing apps in Canada, rated according to their cost, security & range of assets available.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76-83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
74-89% of retail CFD accounts lose money
Top 6 investment platforms & apps in Canada, reviewed
Copy link to sectionWe found 16 online brokers for users based in
1. IG Markets: Best for trusted and transparent CFD trading
Copy link to sectionFrom 0.5%
Fees
$...
Minimum deposit
17,000
No. assets
Yes
Demo/virtual account
Pros & Cons
Overview
We love IG because it’s one of the most established and reputable names in the online trading industry, known for its reliability, comprehensive market offerings, and strong regulatory compliance. IG offers over 18,000 markets in Canada via CFDs in stocks, forex, commodities, cryptocurrencies, indices, ETFs and more, with plenty of useful plugins and integrations to improve the trading experience.
One of the key strengths of IG Markets is its seamless integration with MetaTrader 4 (MT4), a popular third-party trading platform favoured by many traders for its advanced charting tools, automated trading capabilities, and custom indicators. This integration allows users to leverage MT4’s sophisticated features while benefiting from IG Markets’ competitive pricing, reliable execution, and extensive market access.
Beyond its product range and platform integrations, IG Markets stands out for its commitment to education and customer support. The company offers a wealth of educational resources, such as webinars, tutorials, and market analysis, which help traders of all levels improve their knowledge and skills.
The fees: For most assets, you don’t pay a trading fee but will be charged through the spread instead. Spreads start at 0.6 points on key FX pairs, 0.8 points on major indices, and 0.1 points on commodities. Guaranteed stops are available and cost 0.3% of the underlying transaction value. IG charges a commission on share trading depending on the market. Hong Kong Stocks HKD50, UK Stocks £10, US Stocks, $15, and Euro Stocks €10. A 0.5% FX conversion is applied to any profits or losses from CFD positions.
Highlights
| Features | IG Markets summary |
|---|---|
| No. of tradable assets | 17,000+ |
| Min. Deposit | $0 |
| ID verification required | Yes |
| Free demo account | Yes |
| Supported assets | Stock CFDs, ETFs, Forex CFDs, Crypto CFDs, Index CFDs, Commodities |
| Mobile trading app | Yes |
| Web trading platform | Yes |
| Regulatory bodies | FSCA, MAS, FMA, ASIC, FCA, BaFin, FINMA, DFSA, BMA, CFTC, NFA |
| View more > | IG Markets > |
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
2. XTB: Best for offering global CFD markets to retail traders
Copy link to section
0.2 pips
Fees
$...
Minimum deposit
2,200
No. assets
Yes
Demo/virtual account
Pros & Cons
Overview
We love XTB because of its extensive range of international CFD markets, allowing Canadian traders to buy and sell popular financial assets at competitive prices. XTB offers over 5,900 instruments, including 3,000 stocks, 400 ETFs, and 2,300 CFDs across forex, commodities, and indices.
This broad selection allows you to diversify your portfolio and explore several trading opportunities across different asset classes. Whether you are interested in forex, commodities, indices, or cryptocurrencies, XTB’s comprehensive offering means you have the tools and resources needed to trade effectively.
XTB combines beginner-friendly, introductory tools and resources with a scaling system of accounts that allow experienced traders to access high rates of leverage and advanced analytical tools.
With more than 180 pre-installed indicators and chart types, its bespoke xStation platform allows for intricate analysis, while beginners can access its Trading Central service, where trade ideas, forecasts, and risk analyses are available for anyone to look through.
*Canadian residents are accepted only by the French branch of XTB Group
The fees: XTB’s fees start from 0.02 pips on forex pairs and 0.2 pips on stocks and indices CFDs. Commodities come with larger spreads, starting from 2 pips, while cryptocurrency spreads are significantly higher and start from 8.1 pips.
Highlights
| Features | XTB Online Investing summary |
|---|---|
| No. of tradable assets | 2,200 |
| Min. Deposit | $0 |
| ID verification required | Yes |
| Free demo account | Yes |
| Supported assets | Stocks, Cryptocurrencies, Commodities, Currencies, Indices, ETFs |
| Mobile trading app | Yes |
| Web trading platform | Yes |
| Regulatory bodies | CySEC, FCA, KNF |
| View more > | XTB Online Investing > |
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76-83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3. Eightcap. Best online broker for choice of trading platform
Copy link to section
Up to $3.5 RT
Fees
$...
Minimum deposit
1600
No. assets
Yes
Demo/virtual account
Pros & Cons
Overview
We love Eightcap because it is a versatile multi-platform brokerage that is suitable for all types of traders. In Canada, Eightcap offers easy access to TradingView, MetaTrader 4, MetaTrader 5, and Flash Trade, letting you choose the platform that best suits your trading style.
In addition to a selection of cutting-edge trading platforms, Eightcap gives access to CapitaliseAi. This handy tool allows you to automate your strategies using simple, code-free instructions, enhancing your trading efficiency.
With Eightcap you’re able to trade a wide range of markets including forex, commodities, stocks, and cryptocurrencies. All assets are traded via CFDs which means you’ll be able to keep your costs down and use leverage up to 200:1, while diversifying your trading portfolio without needing multiple accounts.
The fees: Eightcap is a CFD broker and charges spread, commissions, or a combination of both. There are two account types available, RAW, and Standard. The RAW account has ultra-low spreads starting from 0.0 pips but charges $3.5 RT per lot. The standard account is commission-free for most assets and spreads start from 1 pip.
Highlights
| Features | Eightcap summary |
|---|---|
| No. of tradable assets | 800+ |
| Min. Deposit | $100 |
| ID verification required | Yes |
| Free demo account | Yes |
| Supported assets | Stocks, Cryptocurrencies, Commodities, Currencies, Indices |
| Mobile trading app | Yes |
| Web trading platform | Yes |
| Regulatory bodies | ASIC, FCA, CySEC |
| View more > | Eightcap > |
4. AvaTrade. Best regulated broker for secure trading
Copy link to section
From 0.13%
Fees
$...
Minimum deposit
1,300
No. assets
Yes
Demo/virtual account
Pros & Cons
Overview
We love AvaTrade because it is a reliable CFD broker, that gives users access to a wide range of markets. As a CFD broker, AvaTrade lets you speculate on the price movements of various financial instruments without owning the underlying assets. AvaTrade is a multi-asset brokerage firm and includes CFDs for forex, commodities, stocks, indices, cryptocurrencies, and bonds.
In Canada, AvaTrade is run and operated by Friedberg Direct, a division of Friedberg Mercantile Group Ltd. Friedberg Direct (AvaTrade in Canada) is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF).
AvaTrade isn’t just well-regulated, it also employs advanced security measures to protect client funds and personal information, including segregated accounts and robust encryption technology.
The fees: There is no commission on any trading. AvaTrade makes money from the Bid/Ask spread instead. Stock spreads start from 0.13 and forex spreads start at 0.7 pips. Positions left overnight are charged a swap fee that varies depending on size. An inactivity fee of $50 per month is applicable if you don’t log in to your account for three consecutive months.
Highlights
| Features | AvaTrade summary |
|---|---|
| No. of tradable assets | 1250+ |
| Min. Deposit | $100 |
| ID verification required | Yes |
| Free demo account | Yes |
| Supported assets | Stocks, Stock CFDs, ETF CFDs, Forex CFDs, Crypto CFDs, Commodity CFDs, Index CFDs |
| Mobile trading app | Yes |
| Web trading platform | Yes |
| Regulatory bodies | FSCA, FSA, ASIC, CBI, MiFID, CySEC, BVIFSC, FRSA |
| View more > | AvaTrade > |
What is an investment app?
Copy link to sectionAn investment app is a mobile or web-based platform that allows individuals to buy, sell, and manage a portfolio of investments, such as stocks, bonds, mutual funds, and ETFs (Exchange-Traded Funds), directly from their smartphone, tablet, or computer.
These apps offer a convenient and accessible way for both novice and experienced investors to participate in the financial markets, often with lower fees and a user-friendly interface compared to traditional brokerage services.
The different types of investment platform in Canada
Copy link to sectionIn Canada, investment platforms can broadly be categorized into the following types:
- Online brokers. Platforms that allow users to buy and sell stocks, bonds, and other securities. They cater to both active traders and long-term investors and often feature comprehensive tools for market analysis.
- Robo-advisors. Automated investment services that use algorithms to manage a diversified portfolio based on the investor’s risk tolerance and financial goals. They best robo advisors in Canada known for low fees and minimal human intervention.
- Micro-investing apps. These apps round up your everyday transactions to the nearest dollar and invest the spare change in a portfolio of ETFs, making it easy to start investing with small amounts.
- Direct investing apps. Offered by banks or financial institutions, allowing investors to buy and sell securities directly. They typically integrate with other banking services for convenience.
How do investment platforms work?
Copy link to sectionInvestment platforms act as intermediaries between the financial markets and investors. After creating an account and depositing funds, investors can use the platform’s tools and resources to make informed investment decisions.
Trades are executed through the platform, which connects to the stock exchanges and other markets to buy or sell securities on behalf of the investor. Many platforms also provide educational resources, financial news, and analysis tools to help users develop their investment strategies.
How much do Canadian investment apps cost?
Copy link to sectionThere’s no cost to downloading app or signing up to an investment platform. The cost of using investment apps in Canada varies widely depending on exactly what you use the platform for.
Commission and management fees are typically low, but you may have to pay a variety of charges, including transfer fees, inactivity fees, or conversion fees that can add up to a significant amount.
Here are the different types of fee you may have to pay:
- Commission fees. Some investing apps in Canada charge for each trade, although many platforms now offer commission-free trading for stocks and ETFs.
- Management fees. Typically associated with top robo-advisors in Canada, these charges calculated as a percentage of the assets under management (AUM).
- Account fees. These are monthly or annual fees for maintaining an account, though many apps waive these fees if certain conditions are met.
- Other costs. These include things like transfer fees, inactivity fees, and foreign exchange fees for trading non-Canadian securities.
How should I choose an investment app?
Copy link to sectionChoosing the right investment app depends on your investment goals, experience level, and the types of assets you’re interested in. Consider the following factors:
- Fees. Look for transparent fee structures that align with your investment strategy. Prioritise low fees, but be prepared to pay a bit extra to get the features you think are most important to how you want to invest.
- Investment options. Ensure the app offers the types of investments you’re interested in. If you want low-effort ETFs or funds, then ensure these are available. Similarly, if you want to invest in assets like cryptocurrencies or commodities, ensure these are available too – they aren’t on every Canadian investment app.
- Ease of use. The platform should be intuitive and accessible, especially if you’re a beginner. Take advantage of any demo account that’s available to test the app on browser and on mobile before you deposit any money.
- Educational resources. Useful for beginners who wish to learn more about investing. You can usually use educational features before you deposit any money, so you can try out a few different services before making a final decision.
- Security. Verify that the app uses strong security measures to protect your personal and financial information. Check that the app is regulated by top-tier financial regulators, such as the CSA or IIROC in Canada.
- Customer support. Access to knowledgeable support can be crucial, especially for new investors. 24/7 support is best, but consider the methods you can use to contact the platform. Some are email only, others allow far more support channels, including text, phone, or WhatsApp support.
Research and compare different apps to find one that best meets your needs, considering both the costs and the features offered.
Should I use an investment app from Canada?
Copy link to sectionIt’s a good idea to use an investing app to make and manage your investments. Most people use a smartphone or tablet these days and downloading an investing app can save a lot of time when buying and selling financial instruments. Apps also give constant access to your investments and the ability to make changes very quickly.
Are investment apps in Canada safe?
Copy link to sectionYes, they generally are, although it is important to remember that you can still lose money while investing. Apps from brokers or service providers regulated by the proper governing bodies are considered the safest. Users are better protected through compensation schemes which provide a safety net if an app goes out of business.
Investment apps in Canada are regulated by the Financial Consumer Agency of Canada (FCAC). The FCAC provides insurance and protection for retail investors who get involved in financial trading or invest in financial securities. It’s very important that you choose an investment app that’s regulated by the FCAC.
What are the risks of using an investment app in Canada?
Copy link to sectionWith any investment there is the risk of losing money. That’s why the golden rule is to never invest more than you can afford to lose; you can never predict exactly how a stock will perform and there are lots of factors outside of your control.
Apps can be particularly dangerous because they’re so easy to use. When you can invest in a company instantly, wherever you are, it encourages you to make quick decisions without taking the time to research first.
It pays to set some strict guidelines that any stock must hit before you invest in it, so that you make decisions with a clear head rather than emotionally. Use the list of quick benefits and risks below to help you decide if an investment app is for you.
Benefits
Copy link to section- Easy access to your investment portfolio even when on the go
- The ability to buy and sell thousands of assets from a smartphone or tablet
- The latest market information at your fingertips
- Most apps have the same features as desktop or web based platforms.
- Investment apps are free to download and use
Risks
Copy link to sectionMethodology: How did we choose the best investment apps in Canada?
Copy link to sectionHelping people make better financial decisions is at the heart of our mission at Invezz.
We periodically test more than 69 apps to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of industry experts, analysts, and active traders who sign up to each app, conduct research, and score each investment service.
Our tests are designed to find apps that offer a beginner-friendly, secure investing experience at a fair price. To supplement our practical testing and experience, we research each mobile app to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.
Each app is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.
We work closely with individual apps to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process.
FAQs
Copy link to sectionWhat is the best investment app in Canada?
What is the best investing app for students in Canada?
Can I invest in crypto on an investment app from Canada?
Do investment apps in Canada offer copy features?
Are investment apps in Canada free?
Is eToro the best investment platform in Canada for beginners?
Is it better to use an app or desktop investment platform in Canada?
More of the best investing rankings
Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.