What is the best stock trading app in Canada?

Wealthsimple is the best stock trading app for most Canadians — it offers $0 commissions on all stock and ETF trades, fractional shares, and a clean mobile experience. For advanced/active traders who need professional tools and the lowest per-share costs, Interactive Brokers is the best choice.

Can you trade stocks for free in Canada?

Yes. Wealthsimple offers completely free stock and ETF trading in Canada. There are no commissions on Canadian or US stock trades. The only fee is a 1.5% currency conversion fee on US dollar trades, which can be eliminated with Wealthsimple Premium ($3/month).

Is it safe to trade stocks on an app in Canada?

Yes, as long as the app is regulated by CIRO (Canadian Investment Regulatory Organization). All CIRO-regulated brokers are members of CIPF, which protects your investments up to $1 million per account category. Wealthsimple, Questrade, and all bank-owned platforms are CIRO-regulated.

Best Stock Trading Apps in Canada 2026

The stock trading app landscape in Canada has been transformed by commission-free trading. Wealthsimple offers $0 trades on every stock and ETF, fractional shares from $1, and the cleanest mobile app in the country — it’s the right choice for most Canadians. For active traders who need real-time data, global market access, and professional-grade tools, Interactive Brokers is unmatched. Big bank platforms still charge $9.95 per trade, which adds up fast and is increasingly hard to justify unless you specifically need their banking integration.

Best Stock Trading Apps Ranked

Rank	App	Best For	Commission	Mobile App Rating
1	Wealthsimple	Best overall	$0	4.7/5
2	Interactive Brokers	Active/advanced traders	$0.01/share (min $1)	4.3/5
3	Questrade	ETF investors + moderate traders	$0 (stocks & ETFs)	3.8/5
4	TD Direct Investing	Bank integration	$9.99	4.0/5
5	BMO InvestorLine	Bank integration	$9.95	3.7/5
6	Qtrade	Full-service discount	$8.75	3.5/5
7	RBC Direct Investing	RBC clients	$9.95	3.5/5

#1: Wealthsimple — Best Overall Stock Trading App

Feature	Details
Commissions	$0 on all stock and ETF trades
Markets	TSX, NYSE, NASDAQ + crypto
Fractional shares	Yes (buy as little as $1 of any stock)
Options trading	Yes
USD account	Yes (Premium plan, $3/month)
Real-time quotes	Yes
Research	Basic (company info, analyst consensus)
Order types	Market, limit, stop-limit
Account minimum	$0
Best for	Beginners, passive investors, dividend investors

Why it wins: Zero commissions, fractional shares, and the best mobile app design in Canada. Combined with banking (cash account), tax filing, and crypto — Wealthsimple is the most complete platform.

Wealthsimple Pros and Cons

Pros	Cons
$0 commissions on all trades	1.5% FX fee on US trades (free plan)
Fractional shares from $1	Limited research and charting tools
Best-in-class mobile app	No margin account
Crypto + stocks in one app	No access to international exchanges
TFSA, RRSP, FHSA, RESP all available	No advanced order types (trailing stop, etc.)

#2: Interactive Brokers — Best for Active Traders

Feature	Details
Commissions	$0.01/share (min $1 per trade)
Markets	150+ markets in 33 countries
Fractional shares	Yes (US stocks)
Options trading	Yes (advanced)
USD account	Yes (native, no FX fee for USD-funded)
Real-time quotes	Yes (with Trader Workstation)
Research	Extensive (Morningstar, Refinitiv, fundamental scanners)
Order types	All types including algorithmic
Account minimum	$0
Best for	Active traders, options traders, international investors

Interactive Brokers Pros and Cons

Pros	Cons
Lowest cost for high-volume traders	Complex interface for beginners
Access to 150+ global exchanges	Trader Workstation has steep learning curve
Best margin rates in Canada	Customer service can be slow
Advanced tools and research	Mobile app less polished than Wealthsimple
Forex at spot rates	Account statements are difficult to read

#3: Questrade — Best for ETF Investors

Feature	Details
Commissions	$0 (stocks & ETFs, both buy and sell)
Markets	TSX, NYSE, NASDAQ
Fractional shares	No
Options trading	Yes ($0 on most contracts)
USD account	Yes (free)
Real-time quotes	Yes (with data package subscription)
Research	Good (Morningstar reports included)
Order types	Standard + trailing stop
Account minimum	$1,000
Best for	ETF buy-and-hold investors

Questrade figures verified at questrade.com/pricing, August 2026.

Cost Comparison: 10 Stock Trades Per Month

Commissions are the most obvious cost, but currency conversion fees matter just as much for anyone buying US stocks. Wealthsimple charges 1.5% on USD trades (waived with Premium at $3/month), while Interactive Brokers offers near-spot FX rates. On a $10,000 USD purchase, that’s $150 at Wealthsimple vs. under $2 at IBKR. If you trade US stocks frequently, IBKR saves thousands over time.

App	Monthly Cost (Canadian Stocks)	Monthly Cost (US Stocks)	Annual Cost
Wealthsimple	$0	$0 (+ FX fee if applicable)	$0–$36 (Premium)
Interactive Brokers	~$10 ($1/trade min)	~$10	~$240
Questrade	$0	$0	$0
TD Direct	$99.90	$99.90	$1,198.80
BMO InvestorLine	$99.50	$99.50	$1,194

Feature Comparison for Stock Traders

Feature	Wealthsimple	IBKR	Questrade	Big Banks
Real-time quotes	✅ Free	✅ Free	⚠️ Paid add-on	⚠️ Varies
After-hours trading	❌	✅	❌	❌
Short selling	❌	✅	✅	✅
IPO access	❌	✅	❌	✅ (some)
Stock screener	Basic	Advanced	Moderate	Moderate
Chart analysis	Basic	Professional	Good	Moderate
News feed	Basic	Extensive	Good	Good
DRIP	✅	✅	✅	✅
Automatic deposits	✅	❌	✅	✅

Best App by Trading Style

Trading Style	Best App	Why
Buy and hold (monthly purchases)	Wealthsimple	$0 fees, automatic deposits, fractional shares
Dividend investing	Wealthsimple	$0 commissions, free DRIP
Day trading	Interactive Brokers	Lowest commissions, best tools, real-time data
Swing trading (weekly)	Interactive Brokers or Wealthsimple	Depends on volume
Options trading	Interactive Brokers	Lowest options fees, best execution
US stock focus	Interactive Brokers	Best FX rates, no conversion fee
Penny stocks	Interactive Brokers	Low per-share cost, access to OTC

How to Open a Stock Trading Account

Step	Action
1	Choose your app and download it
2	Enter personal information (name, address, SIN, employment)
3	Verify identity (photo ID + selfie, or bank verification)
4	Choose account type (TFSA recommended for beginners)
5	Fund your account (e-Transfer, bank link, or wire)
6	Start trading

Typical Timeline	App
5 minutes to open	Wealthsimple
10–15 minutes to open	Questrade, IBKR
15–30 minutes to open	Bank platforms (may require branch visit)

The Bottom Line

Wealthsimple for buy-and-hold investors and beginners, Interactive Brokers for active traders and heavy US stock buyers. Questrade now charges $0 on both stocks and ETFs (Questrade, verified August 2026), making it cost-competitive with Wealthsimple while offering more advanced tools. Bank platforms are expensive and only worth considering if tight banking integration matters to you.