The Best Stock Trading Apps in Canada for 2024

Qtrade has one mobile app: Qtrade Direct Invest. Like all of the apps on our list, it’s available both for Android and iOS.

Commissions and Fees

Qtrade has two plans - Investor and Investor Plus. Investor Plus is a plan for active traders who make at least 150 trades per quarter and/or $500,000+ in assets per client ID. These traders are required to pay $6.95 per share traded. On the other hand, the Investor plan is for everyone else, costing $8.75 per share.

Reasons to Consider the App

This elegant mobile app allows you to see real-time prices of stocks, and transfer money across various accounts. You can also monitor your portfolio. This stock trading app is safe, as it supports two-step verification. In addition, it has the trailing stop limit order, and trailing stop market order features.

Reasons to Look Elsewhere

The pricing for Qtrade is higher than its competitors, especially if you’re not an active trader. The app is not exactly popular, as there are barely any reviews on the App Store, and none on Google Play.

Some users reported problems with the app, such as being unable to use it because it wouldn’t load. Nevertheless, Qtrade noted that it is constantly working on improving the app, so these issues are likely to get fixed.

Pros

• Lower conversion fee
• Supports two-factor verification
• Trailing stop limit order and trailing stop market order available

Cons

• High commission
• Laggy app

Questrade has two mobile apps, QuestMobile and Questrade. QuestMobile is an all-in-one platform suitable for most traders. Those who would like more advanced options can check out the Questrade app, which is more suitable for experienced traders in Canada.

Commissions and Fees

The commission for regular traders is 1¢ per share, with a minimum of $4.95 and a maximum of $9.95. There are two plans for active traders: Fixed and variable.

The fixed plan costs $4.95 per trade and is suitable for trading extensive amounts of stocks. On the other hand, the variable plan is excellent for purchasing expensive stocks, and costs 1¢ per share, with a minimum of $0.01, and a maximum of $6.95.

Reasons to Consider the App

Considering that there are two Questrade mobile apps, more traders have the opportunity to find a product that suits their requirements with this company.

Users cited QuestMobile’s sleek design as one of its main strong points. Some of them also noted that all of the functions worked pretty well, and were fond of the option to set up a fingerprint login.

The Questrade app was praised by its users for its sophisticated charting tools and account summary. They added that the main features of this Canadian stock trading app function well.

Reasons to Look Elsewhere

While it has many positive reviews, QuestMobile has a 3.2 rating on Google Play and 3.0 on the App Store. The users reported that the portfolio data loads slowly, and that charts are difficult to read. On the plus side, Questrade responded to every comment, advising customers what to do.

The traders using Questrade seem less satisfied with the supposedly advanced app. For that one, they gave a rating of 2.1 on Google Play, and 1.7 on the App Store. The reviewers commented that the app is laggy at times and that the transaction history takes too long to update.

If you’re still unsure whether this app is for you, you can check out our full review on Questrade.

Pros

• Two apps available
• Low commissions
• Supports biometric login

Cons

• The app freezes occasionally
• There is a minimum account balance

Wealthsimple Trade is a division of Wealthsimple Inc. that offers online trading services. There is also Wealthsimple Invest, Wealthsimple Cash, Wealthsimple Tax, and Wealthsimple Crypto.

Commissions and Fees

The central selling point for Wealthsimple Trade is that it doesn’t charge a commission on stock trading. However, it’s not entirely free, as you get charged a 1.5% conversion fee if you wish to convert CAD to USD, and vice versa.

There are two paid plans - Wealthsimple Basic and Wealthsimple Plus. The former is completely free, but you won’t have access to certain features, such as the ability to deposit up to $5,000 instantly - Basic users can cash in only $1,500.

Reasons to Consider the App

The main reason people are drawn to Wealthsimple Trade is its no-commission policy. However, that’s not the only aspect of Wealthsimple Trade that makes it worth trying out.

Wealthsimple Trade is largely considered to be one of the best stock trading apps available to Canadians. The reviews on Google Play and the App Store are a testament to how satisfied users are with the app. Over 61,000 Android users gave it a rating of 4.3, while over 123,000 of those using it on iOS rated it an outstanding 4.7.

Users reported their satisfaction with the customer support, which, according to them, was extremely friendly and helpful. They also pointed out how advantageous it was to be able to buy fractional shares. Apart from that, they said the app is straightforward to use and praised its intuitive user interface.

Reasons to Look Elsewhere

As this is one of Canada’s top trading apps, its many loyal users come as no surprise. However, some have had a less delightful experience with the app.

For instance, some users found the layout to be impractical. They noted that it’s challenging to find the information about stocks, as it’s not displayed on the home screen; instead, you have to click on individual stocks. Another downside is the 1.5% currency exchange fee.

Before downloading the app, you can read our detailed Wealthsimple review.

Pros

• Commission-free stock trading
• No minimum account balance
• Supports fractional shares

Cons

• Real-time quotes only available via paid plans

CIBC stands for Canadian Imperial Bank of Commerce. Investor’s Edge is the bank’s online brokerage division, largely considered to be one of ​​Canada’s leading online brokers. Like most such platforms, CIBC Investor’s Edge has a mobile app, and it’s called CIBC Mobile Wealth.

Commissions and Fees

Regarding stocks, CIBC Investor’s Edge charges a per-trade commission of $6.95 for regular traders. Active, young, and student investors can trade at a discount.

To be considered an active trader, one must execute at least 150 trades per quarter. These investors pay $4.95 per trade for enrolled clients. Young investors are those aged 18 to 24 and can trade stocks commission-free. Finally, the student investor plan is reserved for students over 25, and costs $5.95 per trade. There is also a currency exchange fee that varies between 1.5% and 1.99%. 

Reasons to Consider the App

The app has a simple user interface allowing for a seamless trading experience. Apart from enabling stock trading online in Canada, it also features quote lists and watch lists for users to monitor stock prices, and thus make informed trading decisions. There’s also an overview of your performance and transactions, and the option to transfer money across accounts. 

Another neat pair of perks is chart customization and fingerprint login (for extra data security).

The app is available on Android and iOS. The reviewers on the App Store and Google Play praised the app for having all the necessary information easily accessible. They have also reported that since the update, the app isn’t glitchy like it used to be and that new features are being added frequently.

Reasons to Look Elsewhere

While by no means terrible, some CIBC Mobile Wealth reviews suggest that the app could use some improvement. Over 4,000 Android users gave it a rating of 3.2, while almost 5,000 of those using it on iOS rated the app 3.5.

Some users noted that the app doesn’t have helpful features, such as trailing stop loss, which they consider a significant disadvantage.

Pros

• Supports biometrics
• Discounts for various kinds of traders
• Customizable charts

Cons

• Lacks certain features, such as trailing stop loss
• High conversion fee

TD Direct Investing’s mobile app is called TD Easy Trade. Let’s see what this app has to offer. 

Commissions and Fees

TD Direct Investing has two plans, Standard and Active Trader. Those subscribed to the standard plan pay a flat commission of $9.99. Active traders, that is, those who make at least 150 trades per quarter, have a discount, so their commission equals $7.00.

Reasons to Consider the App

For some, TD Easy Trade is the best app for stock trading in Canada. The fact that traders get 50 commission-free stock trades each year is a huge upside. Additionally, apart from trading, TD Easy Trade allows users to view real-time quotes and news and provides them with research tools.

There is also the learning centre, which offers access to educational content. Users may customize their charts by tweaking timespans, technical indicators, and other settings. They may also set up fingerprint login.

Reasons to Look Elsewhere 

The app has a 2.3 rating on the App Store based on over 100 reviews. The most common issues they reported have to do with logging in, and the app being laggy overall. Hopefully, these issues will be fixed soon, as this is a good stock trading app in terms of features.

Pros

• Customizable charts
• 50 commission-free stock trades a year
• Supports biometrics

Cons

• High commission
• High currency exchange fee

The RBC Direct Investing mobile app is called RBC Mobile. The app isn’t just a trading app; it also features investment and business tools.

Commissions and Fees

The commission is $9.95 per transaction for regular traders. As with many online brokerages, there are benefits for traders who execute 150 or more trades per quarter. These active traders pay a commission of $6.95.

Additionally, this Canadian stock trading app’s fees include a $25 per quarter maintenance fee for customers whose combined assets total less than $15,000, and additional fees that may be charged by third parties providing a certain service.

Reasons to Consider the App

This feature-rich app allows users to monitor their trades through an easily accessible overview, search for stock quotes, and track their progress. There is no minimum account balance to open an account and trade.

The app has received outstanding ratings on Google Play and the App Store, so it’s safe to say this is one of the best trading apps in Canada. More than 205,000 iOS users rated it 4.8. The users cited its user-friendly interface and the fact that all the essential features work properly as the main reasons they enjoyed the app. 

Reasons to Look Elsewhere 

Although user reviews are favourable for the most part, there have been some complaints about the app being buggy and slow. Some noted that it logs out at times. It should be pointed out that the RBC Direct Investing staff responded to these comments and offered solutions.

Pros

• Discount for active traders
• Intuitive interface
• A number of valuable features

Cons

• High commission
• High currency exchange fee