Top 7 Best Investment Platforms in Canada for 2025 Ranked
Explore this curated list of top investment platforms in Canada, each personally tested with real funds to ensure authenticity and value. These platforms are tailored to meet the needs of Canadian investors, offering a variety of features, tools, and account options for every type of trader.
Wealthsimple
CA Investment Score: 4.75/5
Trading and investing involve risk. Capital at Risk
Questrade
CA Investment Score: 4.6/5
Trading and investing involve risk. Capital at Risk
Qtrade
CA Investment Score: 4.5/5
Trading and investing involve risk. Capital at Risk
Wealthsimple SDI
CA Investment Score: 4.5/5
Trading and investing involve risk. Capital at Risk
Quick Answer: What is the Best Investment Platform in Canada?
The best investment platform in Canada for 2025 is Wealthsimple. Known for its low fees, beginner-friendly interface, and commission-free trading, it’s ideal for Canadians of all experience levels. The platform supports TFSAs and RRSPs, making it perfect for tax-efficient investing.
How Do the Top Investment Platforms in the Canada Rank?
| Rank | Platform | Fees | Ease of Use | Key Features |
|---|---|---|---|---|
| #1 | Wealthsimple | Commission-free | High | Beginner-friendly, SRI options |
| #2 | Questrade | Low trading fees (CAD $4.95+/trade) | Medium | Advanced tools, free ETF purchases |
| #3 | Qtrade | Affordable (CAD $8.75/trade; $6.95 active users) | High | Reliable service, extensive research tools |
| #4 | Wealthsimple Self-Directed | Commission-free | High | DIY investing, seamless TFSA/RRSP integration |
| #5 | Questwealth | 0.2%–0.25% management fees | High | Automated portfolios, socially responsible options |
| #6 | Moka | CAD $3.99/month | High | Automated micro-investing, round-up savings |
| #7 | CIBC Investor’s Edge | CAD $6.95–$9.95/trade | Medium | Low-cost bank-linked platform, research tools |
The Top 7 Investment Platforms Ranked in Canada
- Wealthsimple – Beginner-friendly, commission-free trading for Canadians
- Questrade – Advanced tools, great for active traders
- Qtrade – Reliable, affordable, and long-term focused
- Wealthsimple Self-Directed – Easy DIY platform for beginners
- Questwealth – Robo-advisor with smart, hands-free portfolios
- Moka – Automated micro-investing for beginners
- CIBC Investor’s Edge – Affordable bank-linked investment tools
How Do Investment Platforms Compare in Canada?
Choosing the right investment platform in Canada depends on fees, ease of use, features, and supported accounts. Platforms must integrate with tax-advantaged accounts like TFSAs and RRSPs, essential for maximising tax benefits.
Key comparison factors:
- Fees: Wealthsimple offers commission-free trading, while others charge per trade or management fees.
- Ease of Use: Platforms like Wealthsimple are ideal for beginners, while Questrade appeals to advanced traders.
- Features: Robo-advisors like Questwealth automate investing, while self-directed options offer greater control.
- Supported Accounts: Ensure the platform supports your investment goals with TFSAs, RRSPs, or non-registered accounts.
Wealthsimple – Beginner-Friendly, Low Fees, and All-in-One Platform
Pros & Cons
- Commission-free trading
- Beginner-friendly interface
- Socially responsible investment options
- Limited advanced trading tools
- Not ideal for active traders
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What Are the Fees and Charges?
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What Assets Can You Trade?
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How Easy Is the Platform to Use?
Wealthsimple charges zero commission for trading Canadian stocks and ETFs. For its managed portfolio service, fees range from 0.4% to 0.5%, which is among the most competitive in Canada.
With Wealthsimple, you can trade stocks, ETFs, and cryptocurrencies. It’s a great option for those interested in diversified investments.
Wealthsimple’s interface is incredibly user-friendly, making it one of the most accessible platforms for Canadians. I had no trouble navigating it as a beginner, and the app’s layout simplifies tracking performance.
Trading and investing involve risk. The value of your investments can go up or down, and you may lose all or part of your capital. These products may not be suitable for all investors. Please ensure you fully understand the risks involved.
Questrade – Advanced Tools and Great for Active Traders
Pros & Cons
- Free ETF purchases
- Advanced research tools
- Low trading fees
- Complex for beginners
- Some additional fees for premium tools
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What Are the Fees and Charges?
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What Assets Can You Trade?
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How Easy Is the Platform to Use?
- Stock trades cost $4.95–$9.95 per trade.
- ETFs can be bought for free, which makes it an affordable way to diversify.
Questrade offers a broad selection, including stocks, ETFs, mutual funds, options, GICs, and bonds.
The platform is powerful but has a steeper learning curve compared to Wealthsimple. However, the extensive research tools and charting features make it worth the effort for serious traders.
Trading and investing involve risk. The value of your investments can go up or down, and you may lose all or part of your capital. These products may not be suitable for all investors. Please ensure you fully understand the risks involved.
Qtrade – Reliable, Affordable, and Perfect for Long-Term Investors
Pros & Cons
- Excellent customer service
- Discounted fees for frequent traders
- Comprehensive educational tools
- Higher fees for infrequent traders
- Limited advanced charting tools
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What Are the Fees and Charges?
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What Assets Can You Trade?
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How Easy Is the Platform to Use?
Trades cost $8.75, or $6.95 for frequent traders. No annual fees are charged for accounts over $25,000.
You can trade stocks, ETFs, mutual funds, bonds, and GICs.
Qtrade offers an intuitive layout that caters to both beginners and long-term investors. It also provides extensive educational resources.
Trading and investing involve risk. The value of your investments can go up or down, and you may lose all or part of your capital. These products may not be suitable for all investors. Please ensure you fully understand the risks involved.
Wealthsimple Self-Directed Investing – Best for DIY Investors
Pros & Cons
- No trading fees
- User-friendly design
- Perfect for TFSAs
- Limited advanced features
- Not ideal for frequent U.S. trades
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What Are the Fees and Charges?
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What Assets Can You Trade?
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How Easy Is the Platform to Use?
Like the standard Wealthsimple platform, this service offers commission-free trading but applies a 1.5% currency conversion fee for U.S. trades.
You can trade stocks, ETFs, and cryptocurrencies.
The platform’s clean interface is designed for ease of use, even for beginners.
Trading and investing involve risk. The value of your investments can go up or down, and you may lose all or part of your capital. These products may not be suitable for all investors. Please ensure you fully understand the risks involved.
Questwealth – Robo-Advisor with Smart, Hands-Free Portfolios
Pros & Cons
- Low management fees
- Automated rebalancing
- Socially responsible portfolio options
- Less control over individual investments
- Not ideal for active traders
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What Are the Fees and Charges?
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What Assets Can You Trade?
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How Easy Is the Platform to Use?
Management fees range from 0.2% to 0.25%, making it one of the most affordable robo-advisors in Canada.
Questwealth invests in diversified ETFs that are designed to meet your financial goals, whether you’re saving for retirement or growing your wealth.
Using Questwealth is as simple as answering a few questions about your goals and risk tolerance. The platform takes care of the rest, including portfolio rebalancing.
Trading and investing involve risk. The value of your investments can go up or down, and you may lose all or part of your capital. These products may not be suitable for all investors. Please ensure you fully understand the risks involved.
Moka – Automated Savings and Micro-Investing Made Simple
Pros & Cons
- Affordable monthly fee
- Perfect for micro-investing
- Completely automated process
- Limited investment options
- Not suitable for large portfolios
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What Are the Fees and Charges?
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What Assets Can You Trade?
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How Easy Is the Platform to Use?
Moka charges $3.99 per month, which is reasonable for its micro-investing service.
Investments are primarily focused on low-cost ETFs.
Moka is fully automated: it rounds up your purchases and invests the difference. The app is extremely user-friendly and does all the work for you.
Trading and investing involve risk. The value of your investments can go up or down, and you may lose all or part of your capital. These products may not be suitable for all investors. Please ensure you fully understand the risks involved.
CIBC Investor’s Edge – Strong Reputation, Reliable Support, and Versatile Tools
Pros & Cons
- Low trading fees
- Access to a wide range of assets
- Strong customer support
- Less intuitive for beginners
- Best suited for existing CIBC clients
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What Are the Fees and Charges?
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What Assets Can You Trade?
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How Easy Is the Platform to Use?
Trades cost $6.95–$9.95 per trade. The platform also waives annual fees for accounts over $25,000.
CIBC Investor’s Edge supports stocks, ETFs, bonds, mutual funds, and options.
While not as beginner-friendly as Wealthsimple, it offers robust tools and research resources for intermediate users.
Trading and investing involve risk. The value of your investments can go up or down, and you may lose all or part of your capital. These products may not be suitable for all investors. Please ensure you fully understand the risks involved.
What Factors Should Canadians Consider When Choosing an Investment Platform?
Choosing the right platform depends on your individual needs.
- Fees: Look for low or no trading fees if you’re a beginner, such as Wealthsimple.
- Account Options: Ensure the platform supports TFSAs and RRSPs.
- Ease of Use: New investors should prioritise beginner-friendly platforms like Wealthsimple or Moka.
- Control vs Automation: Decide if you prefer DIY investing or automated portfolio management.
When I chose Wealthsimple, simplicity and commission-free trades made it an obvious choice. For advanced features, Questrade became my next step.
How Did We Rank the Top Investment Platforms in Canada?
We evaluated platforms based on:
- Fees: Platforms with lower fees scored higher.
- Ease of Use: Intuitive designs like Wealthsimple’s ranked well.
- Features: Tools for both beginners and advanced users added value.
- Security: All platforms included are CIPF-insured and regulated by IIROC.
My personal experience with these platforms helped refine this ranking, balancing user-friendliness and cost-effectiveness.
Are Canadian Investment Platforms Safe and Secure?
Yes, Canadian platforms are highly secure. Regulations by IIROC and CIPF insurance protect your investments, covering up to $1 million in the event of insolvency. Most platforms also use bank-level encryption to secure your data.
For example, Wealthsimple’s robust security measures made me feel confident when I started investing online.
What Are the Most Popular Investment Strategies in Canada?
Canadians commonly use three key investment strategies, each tailored to different financial goals and risk tolerances:
- Passive Investing:
This strategy focuses on low-cost ETFs that track the performance of an index, such as the S&P/TSX Composite Index. It’s ideal for long-term growth with minimal fees. Personally, I rely on this strategy for my TFSA to maximise tax-free gains while keeping costs low. - Dividend Investing:
This involves investing in dividend-paying stocks for a steady income stream. Many Canadians use this approach for retirement planning or as a secondary income source. I started building a dividend portfolio to reinvest earnings and grow my RRSP balance over time. - Growth Investing:
This strategy targets high-growth sectors, such as technology or renewable energy, aiming for significant returns. While it’s riskier, I allocate a small portion of my portfolio to growth stocks for higher potential rewards.
| Strategy | Description | Ideal For |
|---|---|---|
| Passive Investing | Focused on low-cost ETFs for long-term growth | Beginners and retirees |
| Dividend Investing | Income-focused through high-yield stocks | Income-seekers |
| Growth Investing | Targets high-growth stocks or emerging sectors | Risk-tolerant investors |
How Do Robo-Advisors Compare to Self-Directed Platforms in Canada?
Both robo-advisors and self-directed platforms offer unique benefits, depending on your preferences:
- Robo-Advisors:
Platforms like Questwealth or Wealthsimple Invest automate portfolio management by selecting diversified ETFs based on your risk tolerance and goals.- Pros: Low management fees, automated rebalancing, and hands-free investing.
- Cons: Limited control over individual investments.
- Self-Directed Platforms:
Services like Questrade or Wealthsimple Trade give you full control of your portfolio, letting you trade stocks, ETFs, and other assets.- Pros: Greater flexibility and control, access to advanced tools.
- Cons: Requires more time and expertise.
My Experience:
I started with Wealthsimple Invest for its simplicity and automated approach. As I gained confidence, I moved to Questrade for more control over individual investments, appreciating its robust tools despite the learning curve.
What Are the Tax Implications of Using Investment Platforms in Canada?
Taxes play a critical role in investing, especially when using Canadian platforms. Here are the key considerations:
- TFSAs (Tax-Free Savings Accounts):
- All earnings, including dividends and capital gains, are tax-free within a TFSA.
- There’s no tax deduction for contributions, but withdrawals are completely tax-free.
- I prioritise using TFSAs for growth-focused ETFs, ensuring my gains remain untaxed.
- RRSPs (Registered Retirement Savings Plans):
- Contributions are tax-deductible, reducing your taxable income.
- Withdrawals are taxed as income, making it ideal for long-term retirement savings.
- I use my RRSP for U.S. stocks to avoid withholding taxes, as RRSPs benefit from tax treaties.
- Non-Registered Accounts:
- Gains are subject to capital gains tax (50% of the gain is taxable), while dividends from Canadian stocks are taxed at a lower rate.
- U.S. Withholding Tax:
- Dividends from U.S. stocks face a 15% withholding tax unless held in an RRSP.
- To minimise this, I hold U.S. ETFs exclusively in my RRSP.
| Account | Tax Benefits | Tax Implications | Best For |
|---|---|---|---|
| TFSA | Tax-free growth on earnings | No tax deduction on deposits | Short- and long-term savings |
| RRSP | Tax-deductible contributions | Taxed withdrawals | Retirement planning |
| Non-Registered | Flexible contributions | Taxed on gains and dividends | Supplemental investing |
Summary and Key Takeaways for Canadian Investors
Choosing the right investment platform in Canada depends on your goals, experience level, and investment style. Whether you’re a beginner looking for simplicity or an experienced trader seeking advanced tools, there’s a platform to suit your needs.
Key Takeaways:
- Best for Beginners: Wealthsimple offers commission-free trading and a beginner-friendly interface, making it ideal for new investors.
- Best for Active Traders: Questrade provides low fees, free ETF purchases, and robust tools for self-directed investors.
- Best for Hands-Free Investing: Questwealth’s low-cost robo-advisor service automates your portfolio for stress-free growth.
For Canadian investors, leveraging TFSAs and RRSPs is essential for maximising tax benefits. Starting early, investing consistently, and aligning your platform with your financial goals can help you achieve long-term success.
Top 5 Investment Platforms
1
Wealthsimple
Trading and investing involve risk. Capital at Risk
2
Questrade
Trading and investing involve risk. Capital at Risk
3
Qtrade
Trading and investing involve risk. Capital at Risk
4
Wealthsimple SDI
Trading and investing involve risk. Capital at Risk
5
Questwealth
Trading and investing involve risk. Capital at Risk
FAQs
What is the best investment platform in Canada for beginners?
Wealthsimple is the best platform for beginners due to its commission-free trades and intuitive interface. It’s perfect for those new to investing and offers seamless integration with TFSAs and RRSPs for tax efficiency.
Are investment platforms in Canada safe?
Yes, Canadian platforms are regulated by the Investment Industry Regulatory Organisation of Canada (IIROC) and protected by the Canadian Investor Protection Fund (CIPF). This ensures your investments are secure, even if the platform becomes insolvent.
Which investment platform has the lowest fees in Canada?
Wealthsimple offers commission-free trading, making it the most affordable platform for beginners. For self-directed investors, Questrade is also competitive with low trading fees starting at $4.95 per trade and free ETF purchases.
Can I invest in U.S. stocks using Canadian platforms?
Yes, platforms like Questrade and CIBC Investor’s Edge allow access to U.S. stocks. However, be mindful of currency conversion fees and potential U.S. withholding taxes on dividends.
What’s the best platform for TFSA or RRSP investing?
Wealthsimple and Qtrade are great options for TFSA or RRSP investing. Both platforms integrate these accounts seamlessly, allowing tax-efficient growth and long-term planning.
