Best Brokers For Canadian Traders

With a vibrant economy and 12th largest stock market in the world, Canada offers a great opportunity to invest for long-term wealth building. Online brokers in the country help DIY investors cut fees to a fraction and optimize their investment strategy for tax efficiency.

Best brokers for Canadian traders are those that offer low-fee trading and a suite of investing tools. Before you choose an online broker, create a wish list of all the things that are important to your investment strategy. This will ensure you’re picking the right broker for your needs.

If your priority is day trading, you’ll want to look for a brokerage that offers tight spreads and deep liquidity. You should also look for brokers that offer a solid mobile app and a variety of tools to assist with your research and portfolio management.

A few of the top-rated online Canadian brokers are Qtrade Investor, BMO InvestorLine and Scotia iTrade. Each has a unique offering that will appeal to different types of investors, but they’re all able to deliver on their key strengths.

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TD Direct Investing is one of the oldest and most established big-bank online Canadian brokers. While their platform has been criticized for its dated design, they have a strong commitment to add value to their product and have consistently kept fees among the lowest in Canada.

Questrade is another of the most well-rounded self-directed online Canadian brokers. They’re able to provide access to a wide range of global markets while offering a robust portfolio management and trading platform. They’re also able to offer competitive price-per-trade rates, even for non-ETF trades.