Best Investing Apps in Canada at a Glance
| App | Best For | Commission | Min Investment | Account Types |
|---|---|---|---|---|
| Wealthsimple | Overall best | $0 (stocks/ETFs) | $0 | TFSA, RRSP, FHSA, RESP, Non-reg |
| Questrade | Active traders | $0 (stocks & ETFs) | $1,000 | TFSA, RRSP, FHSA, RESP, Margin |
| Interactive Brokers | Advanced/international | $0.01/share (min $1) | $0 | All types + Forex |
| BMO InvestorLine | Bank integration | $9.95/trade | $0 | All registered + non-reg |
| TD Direct Investing | Bank integration | $9.99/trade | $0 | All registered + non-reg |
| RBC Direct Investing | Bank integration | $9.95/trade | $0 | All registered + non-reg |
| CI Direct Investing | Robo-advisor | 0.4–0.6% management | $0 | TFSA, RRSP, RESP, Non-reg |
| Qtrade | Full-service discount | $8.75/trade | $0 | All registered + non-reg |
Questrade commission figures verified at questrade.com/pricing, August 2026.
Top Pick: Wealthsimple
| Feature | Details |
|---|---|
| Stock/ETF trades | $0 commission |
| Fractional shares | Yes (starting from $1) |
| Crypto trading | Yes (50+ coins) |
| Robo-advisor | 0.4–0.5% management fee |
| Cash account | 3.5–4% interest |
| Tax filing | Free (Wealthsimple Tax) |
| FX fee (USD trades) | 1.5% (free plan) or 0% (Premium, $3/month) |
| Account types | TFSA, RRSP, FHSA, RESP, LIRA, RRIF, Non-reg, Corporate |
| CIPF protected | Yes (up to $1M) |
| App rating | 4.7/5 (iOS), 4.5/5 (Android) |
Detailed App Comparison
Fees Comparison
| App | Stock Trades | ETF Buys | ETF Sells | USD FX Fee | Inactivity Fee |
|---|---|---|---|---|---|
| Wealthsimple | $0 | $0 | $0 | 1.5% (0% on Premium) | None |
| Questrade | $0 | $0 | $0 | Free (USD account) | None |
| Interactive Brokers | $0.01/share (min $1) | $0.01/share | $0.01/share | 0.002% (spot rate) | None |
| BMO InvestorLine | $9.95 | $9.95 | $9.95 | ~1.5% | None |
| TD Direct | $9.99 | $9.99 | $9.99 | ~1.5% | $25/quarter (under $15K) |
| RBC Direct | $9.95 | $9.95 | $9.95 | ~1.5% | $25/quarter (under $15K) |
| Qtrade | $8.75 | $0 (100 free ETFs) | $8.75 | ~1.5% | None |
Features Comparison
| Feature | Wealthsimple | Questrade | IBKR | BMO | TD | Qtrade |
|---|---|---|---|---|---|---|
| Fractional shares | ✅ | ❌ | ✅ | ❌ | ❌ | ❌ |
| Options trading | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ |
| Crypto | ✅ | ❌ | ✅ | ❌ | ❌ | ❌ |
| Robo-advisor | ✅ | ✅ | ❌ | ✅ | ✅ | ✅ |
| USD account | ✅ (Premium) | ✅ | ✅ | ✅ | ✅ | ✅ |
| DRIP | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ |
| Research/tools | Basic | Good | Excellent | Good | Excellent | Good |
| Mobile app quality | Excellent | Good | Good | Fair | Good | Fair |
Account Types Available
| App | TFSA | RRSP | FHSA | RESP | LIRA | RRIF | Margin | Corporate |
|---|---|---|---|---|---|---|---|---|
| Wealthsimple | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ❌ | ✅ |
| Questrade | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ❌ |
| IBKR | ✅ | ✅ | ✅ | ❌ | ❌ | ✅ | ✅ | ✅ |
| BMO | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ❌ |
| TD | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ❌ |
Best App by Investor Type
| Investor Type | Best App | Why |
|---|---|---|
| Beginner (first time investing) | Wealthsimple | Simplest interface, no commissions, fractional shares for small amounts |
| Passive investor (buy & hold ETFs) | Wealthsimple or Questrade | Free ETF purchases, low cost |
| Active stock trader | Interactive Brokers | Lowest per-share costs, advanced tools, real-time data |
| Dividend investor | Wealthsimple or Questrade | Free DRIP, low/no commissions |
| US stock investor | Interactive Brokers | Lowest FX costs; or Wealthsimple Premium for simplicity |
| Want bank integration | TD/BMO/RBC Direct | Seamless transfers, bundled accounts |
| Hands-off (robo-advisor) | Wealthsimple Invest | 0.4–0.5% management, fully automated |
| Family accounts (RESP) | Wealthsimple or Questrade | Good RESP options with low fees |
Transfer Bonuses
Many apps offer bonuses when you transfer existing investments:
| App | Transfer Bonus | How to Get It |
|---|---|---|
| Wealthsimple | Up to $10,000 cash bonus | Transfer $5,000+ to qualify |
| Questrade | Transfer fee rebate (up to $150) | Transfer any account |
| Interactive Brokers | Fee rebate on transfers | Contact support |
| BMO InvestorLine | Up to $2,000 | Transfer $200K+ |
| Qtrade | Up to $2,000 | Transfer $25K+ |
How to Choose an Investing App
| Question | If Yes, Choose… |
|---|---|
| Are you a complete beginner? | Wealthsimple |
| Do you trade frequently (weekly+)? | Interactive Brokers |
| Do you want everything in one app (banking + investing + tax)? | Wealthsimple |
| Do you want the absolute lowest cost for US stocks? | Interactive Brokers |
| Do you prefer a Canadian bank brand? | TD or BMO Direct Investing |
| Do you want free ETF purchases? | Wealthsimple or Questrade |
| Do you want a robo-advisor to manage for you? | Wealthsimple Invest |
Security and Regulation
| Protection | Details |
|---|---|
| CIRO membership | All apps listed are regulated by CIRO |
| CIPF coverage | Up to $1 million per account category |
| Bank-owned apps | TD, BMO, RBC have CDIC deposit protection on cash |
| Two-factor authentication | Available on all platforms |
| Encryption | Bank-level encryption on all platforms |