Investing apps give Canadians more control over their money than ever before. They are especially popular among millennials and zoomers who want to take charge of their own finances without having to pay a financial advisor to create an investment strategy for them. Whether you’re looking for an app that automates investing with a robo-advisor or one that allows you to trade stocks and ETFs yourself, there is a growing number of great options to consider.
The best investing app canada depends on your needs, goals and level of knowledge. You’ll also need to think about the fees involved as they can vary a lot. Some apps charge a flat monthly fee, while others charge by individual trades. There are even some that don’t charge any fees at all, like the new Canadian app Wealthsimple Trade.
Best Investing App Canada: Compare Features & Benefits
Most investment apps allow you to buy and sell securities on a regular basis. They also often offer educational resources, financial news and analysis tools for investors to use. TD Direct Investing, for example, is Canada’s largest online brokerage and offers an excellent mobile trading platform with free real time snap quotes on all Canadian and US stock markets as well as options chains. However, it is a bit more expensive than Questrade and Wealthsimple Trade.
Other popular investment apps include micro-investing services, which round up your everyday transactions to the nearest dollar and invest the spare change in a portfolio of ETFs. These apps can be a good way to start investing on a small budget.