Top online trading platforms for Canadians

Top online trading platforms for Canadians allow you to trade a variety of equities, exchange-traded funds (ETFs) and mutual funds. They also offer tools and suites that can help you build your trading skills and reach your investing goals. These companies are known as discount brokerages, which differentiate them from full-service brokers that charge higher fees.

If you want to invest on the go, then look for a brokerage that offers a well-developed mobile app. In addition, security is a must for investors; check that the brokerage you’re considering has enhanced security features such as 2-factor authentication and data encryption.

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Questrade is a popular option for Canadians, as it offers a wide selection of commission-free ETFs and a number of paid market data packages. Its mobile app is also functional and user-friendly. It’s best for active traders who plan to invest a portion of their paycheck regularly or those looking for a platform that supports short selling.

Scotia iTRADE is a good choice for those who want to diversify their investments, as it offers a range of tradable securities including equities, GICs, mutual funds, bonds and TD Term Deposits. Their desktop and mobile platforms are user-friendly and have lots of tools for active traders, such as screeners, technical insight, morning news calls and advanced charting.

CIBC Investor’s Edge offers some of the lowest stock and ETF trading fees among Canada’s Big 5 Banks, with online trades costing $6.95 per trade and options trading at a flat $6.95 plus $1.25 per contract. Its mobile and desktop trading platforms feature customizable layouts, watch lists, alerts, screening tools and more.