The Best Investment Brokers in Canada (2024)

One of the first steps to take when starting your investment journey is choosing your investment broker or platform.

Here are the Top 5 Investment Brokers in Canada for Beginners! They are all CIPF Members.

Wealthsimple Invest:

This is my top recommendation for beginners because of its easy-to-use platform and zero commission fees to buy stocks and ETFs. Wealthsimple is one of the few online brokers to offer fractional shares which is a big plus, especially for beginners. You don’t need to wait until you can buy a particular stock but you can purchase a portion of it based on the money you have.

Questrade

Another one of my favourites with its easy-to-use platform. It’s one of the best brokers for trading US stocks or ETFs because you can use the Norbert Gambit method to save on currency conversion fees. You also have zero commission fees on ETF purchases and minimal fees to buy and sell stocks. They currently do not offer fractional shares. Outside of that, I recommend it!

Moomoo

This has recently been introduced to the Canadian Market, and they currently have one of the cheapest ways to purchase US stocks or ETFs. They offer fractional shares and zero maintenance fees. I haven’t explored this one properly, but from my experience, the user interface seemed very busy.

TD Easy Trade

This is a new app from TD Bank targeted towards beginner investors which I love. It’s great that the big banks are starting to offer more affordable and beginner-friendly investing options. This new platform provides 50 free trades annually plus Zero commission fees on all TD ETFs.

National Bank Direct Brokerage

We have another great online broker from one of the Big banks in Canada. This is very surprising as it offers Zero Commission fees on ETFs and stock purchases. There are no minimum fees, however, there’s an annual maintenance fee of $100 which can easily be waived.