With the rise of financial technology, there are now many excellent investment apps available for Canadians. These apps provide easy access to investing with low fees, fractional shares, and automated tools. The top apps allow you to invest in stocks, ETFs, crypto, and more right from your phone. In this article, we will explore the 5 best investment apps in Canada for 2023.
Wealthsimple Trade offers commission-free trading
Wealthsimple Trade is one of the most popular investing apps in Canada. It offers commission-free trading of Canadian and US stocks and ETFs. Wealthsimple also provides fractional share purchases, auto-deposits, dividend reinvesting, and other helpful features for beginner investors. The easy-to-use interface makes Wealthsimple a top choice for those getting started with stock investing.
Questrade provides more advanced trading capabilities
For more advanced traders, Questrade is an excellent option. Questrade allows trading of stocks, ETFs, options, mutual funds, and more across global markets. The platform includes professional-grade tools like Level 2 quotes, charting, research reports, and margin accounts. Questrade charges low commissions but is still one of the most full-featured investment apps available.
Shakepay specializes in cryptocurrency trading
For those interested in crypto investing, Shakepay is a leading choice. Shakepay focuses exclusively on purchasing and selling Bitcoin and Ethereum cryptocurrencies. They provide an intuitive mobile app, fast trade execution, and low fees when depositing Canadian dollars. Shakepay also has rewards programs that provide free Bitcoin to customers on a regular basis, making it appealing for beginner cryptocurrency investors.
CIBC Investor’s Edge connects bank accounts for easy funding
CIBC Investor’s Edge links directly to CIBC bank accounts, allowing for streamlined funding of investment accounts. The app provides $6.95 trades for stocks and ETFs. CIBC clients benefit from seamless integration between their banking and investments via mobile app or website. CIBC Investor’s Edge also offers registered accounts, research tools, and access to mutual funds and fixed income products.
WealthBar provides hybrid robo-advisor services
For hands-off automated investing, WealthBar is a top choice. WealthBar provides a robo-advisor that will create and manage a diversified ETF portfolio tailored to your risk tolerance. At the same time, WealthBar gives access to human advisors for guidance. WealthBar charges a management expense ratio under 1% and requires low account minimums. The ease of use and hybrid human/robo-advisor approach makes WealthBar appealing for beginners.
The top investment apps in Canada provide ample opportunities for stock trading, crypto investing, robo-advisors, and more. Wealthsimple Trade, Questrade, Shakepay, CIBC Investor’s Edge, and WealthBar lead the way with mobile apps tailored for every type of Canadian investor.