Over the past decade or so, it has become relatively easy for average Canadians to open an online brokerage account. It’s now possible to buy shares of publicly-traded companies through a discount or full-service broker without having to have significant capital saved up, especially since many of the major brokerages have introduced lower per trade fees. In addition, a variety of investment advice and research services are available to help guide your investing decisions. Go here
Where Canadians Can Invest Online with Confidence
Whether you’re looking to buy index ETFs or blue chip stocks, or perhaps more advanced options trades, there are many different types of investment products available on Canada’s best online brokerage platforms. When choosing an online brokerage, it’s important to consider trading fees (now at $0 or less), mobile vs desktop platforms, cash back offers, and the one area that still separates the best from the rest: customer service.
For example, Questrade and Wealthsimple Trade are both now offering no fee stock and ETF trading, a huge boon to investors. Additionally, both TD Direct Investing and RBC iTRADE have recently lowered their per trade rates. And for new investors, a number of online brokerages offer tutorials and live online workshops to help you get started. Additionally, be sure to check the minimum account balance required, and whether you’ll be charged an inactivity fee if you don’t use your account for a while. It’s also a good idea to make sure the brokerage is regulated and members of the Canadian Investor Protection Fund, which protects your investments up to certain levels if the broker fails.