Canada 
Australia
United Kingdom
Thadeus Geodfrey is an experienced and celebrated writer and self-taught trader specialising in cryptocurrencies and forex. Market analysis, identifying fraudulent brokers, and security are his cup of tea. At BrokerRaters Thadeus develops educational materials and user-guides, offer market insights, ensures our content conforms to the best standards. Join Thadeus to succeed in your trading endeavours.
Fact checked
Advertising Disclosure
We may receive compensation from our partners for placement of their products or services, which helps to maintain our site. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products.
Stock trading offers you the opportunity to rake in decent returns and augment your income. Here’s the best part. You can trade stocks at any time from any location using your mobile phone, courtesy of stock trading apps. But beware; scammers, fraudsters, and other unscrupulous entities have put out countless apps with the sole aim of stealing your data and hard-earned money. But don’t fret; we are here to help you find a reliable and trustworthy product.
The BrokerRaters team spend several days researching and vetting the stock trading apps available in the Great White North. We did everything from testing countless products to using user reviews on Google Play, the App Store, and Trustpilot to weed out shoddy service providers. We also used crucial factors like licensing, fees, and assets to compare innumerable service providers. After days of diligent work, our gurus identified 5 solutions that are undoubtedly the best stock trading apps Canada.
List of the Best Stock Trading Apps
- Interactive Brokers – Overall Best Stock Trading App Canada
- OANDA – Best Stock Trading App for Potential Investors in Canada
- AvaTrade – Best Stock Trading App for Beginners in Canada
- FxPro – Best Stock Trading App for Advanced Canadian Traders
- Forex.com – Best Stock Trading App for Forex Traders in Canada
In This Guide
Canadian Stock Trading Apps: Comparison Table
We sifted through a truckload of service providers on our hunt for the best stock trading apps Canada. Was it an easy task? No. But at BrokerRaters, we remain committed to helping you find nothing but the most outstanding brokers and trading apps in Canada. Our experts toiled for days and used several predetermined factors to assess providers, including regulatory status, available tradable instruments, and trading/non-trading fees.
After many hours of research, evaluation, and comparison, our gurus picked the 5 apps recommended in this comprehensive guide. But you don’t need all 5 solutions, right? You only need to choose one service provider to avoid the unnecessary headaches that can arise from dealing with multiple apps and managing portfolios in different places. While searching for the most fitting app, please consider the same factors that guided our experts, starting with the ones outlined in the comparison table below.
| Best Stock Trading App Canada | License & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| Interactive Brokers | IIROC, ASIC, FCA, SEC, FINRA, ICS, CBH, SFC, MAS | 24/5 | IBKR Desktop, IBKR Trader Workstation (TWS), IBKR Mobile, IBKR GlobalTrader | Check, wire transfer, direct bank transfer (ACH) | Yes |
| OANDA | IIROC, ASIC, B.V.I FSC, FCA, CySEC, | 24/5 | MT4, MT5, fxTrade App | Credit/debit cards, Bank/wire transfer, Skrill, Neteller | Yes |
| AvaTrade | IIROC, ASIC, FCA, MAS, FSCA, CBI, CySEC, PFSA, B.V.I FSC, FSA, ADGM, ISA | 24/5 | WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated Trading | Credit/debit cards, Neteller, Skrill, Wire transfer, WebMoney | Yes |
| FxPro | IIROC, ASIC, FCA, FMA, CySEC, FSCA, SCB | 24/5 | FxPro Mobile App, MT4, MT5, cTrader, FxPro WebTrader | Credit/debit cards, Bank wire transfers, Neteller, Skrill, PayPal | Yes |
| Forex.com | IIROC, ASIC, FCA, CFTC, CIRO, CySEC, NFA, CIMA, FSA, MAS | 24/5 | WebTrader, Mobile App, MetaTrader 4, MetaTrader 5, TradingView | Credit/debit cards, PayPal, Wire transfer | Yes |
Apps Short Overview
The factors listed above are indispensable, no doubt. But they are not the alpha and omega to finding the best stock app Canada. If you focus exclusively on these elements and leave out fees and assets, you’d commit a deadly mistake.
High fees are your profit margin’s worst enemy, so you must prioritize trading stocks with an affordable app. Moreover, you have to find a provider that supports your favourite assets, i.e. stocks, as well as an impressive array of other financial products for portfolio diversification.
Use the tables below to compare the recommended service providers’ fees and assets and identify what could be the best stock trading app Canada for you.
Fees
| Best Stock Trading App Canada | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| Interactive Brokers | $0 | From $0.00 | From $10 withdrawal fees | $0 |
| OANDA | $0 | From $0 | $20 withdrawal fee | $10 monthly |
| AvaTrade | $100 | From 0.13% | Free | $50 after every 3 consecutive months of inactivity |
| FxPro | $100 | From $3.50 per lot | Free | $10 monthly |
| Forex.com | $100 | From 0.0 pips | Free | $15 monthly |
Assets
| Best Stock Trading App Canada | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| Interactive Brokers | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| OANDA | Yes | Yes | Yes | Yes | Yes | Yes | No |
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FxPro | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Forex.com | Yes | Yes | Yes | Yes | Yes | Yes | No |
Our Expert Opinion about Stock Trading Apps in CA
The stock trading apps listed here are authorised and regulated by ASIC in Australia and other international regulators. They also have an impressive array of assets, competitive costs, and other positive attributes. That is why our experts have ranked them the best in Canada. But before you sign up with any of our recommended service providers, read and digest our mini-reviews.
1. Interactive Brokers – Overall Best Stock Trading App Canada
With over 18,000 stocks, Interactive Brokers is our overall best stock app Canada. The app’s commendable selection of supported financial instruments caught our attention from the start. Interactive Brokers is one of a handful of exceptional service providers whose users have access to tens of thousands of stocks and shares. The assets you’ll have access to after signing up with IBKR range from Google and Amazon to Netflix and Tesla shares.
We also discovered numerous powerful trading tools that make Interactive Brokers the pack leader. The first is IBKR GlobalAnalyst, which is tailored to help you compare global stocks’ financial metrics and prices. You can use this tool to identify new investment opportunities seamlessly. The other noteworthy tool is Fractional Shares, which allows IBKR users to switch from buying a specific number of shares to specifying the amount of money they are willing to invest and getting assets that match specified resources.
When it comes to fees, Interactive Brokers is one of the most affordable apps. Downloading this solution and opening a new account doesn’t cost a penny. Furthermore, IBKR’s no minimum deposit policy makes it possible for you to start with what you can afford without compromising your budget. The app’s low commissions, which start from $0.00, also put you in a better position to minimise costs and enhance potential returns.
Interactive Brokers is ideal for both novices and experienced stock traders. If you are a beginner, visit the IBKR Campus and Traders’ Academy to learn the fundamentals and increase your odds of turning in tidy returns. If you are a pro, IBKR has everything you need to build a successful career, from advanced trading tools to powerful features and functionalities.
Interactive Brokers
✔$0 minimum deposit requirement
✔No account inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- Users have access to thousands of stocks and shares
- Countless diversification products, from currencies to bonds and futures
- Low commissions starting from $0.00
- No minimum deposit requirement
- Zero account inactivity fee
- Available at the App Store, Amazon, and Google Play
Cons
- Higher withdrawal charges than its peers
- The interface can overwhelm newbies
After conducting thorough research and extensive assesments, we can confidently categorize Interactive Brokers as one of the most affordable service providers out here. As we’ve already mentioned, this company has no minimum deposit requirement. Plus, it allows traders to fund their accounts with payment methods like ACH and wire transfer at no additional cost. We also highly recommend IBKR because, unlike other brokers, it doesn’t require traders to pay inactivity fees for dormant accounts.
Here’s an overview of the Interactive Brokers fees and charges our team unearthed during our evaluation and exploration:
| Type | Fee |
|---|---|
| Account opening and maintenance | $0 |
| Deposit | $0 |
| Withdrawal | Yes |
| Inactivity | $0 |
| Overnight charges | Yes |
| Currency conversion | 0,5% |
2. OANDA – Best Stock Trading App for Potential Investors in Canada
Suppose you are a stock trader considering investing in real stocks. In that case, we have excellent news for you. You can trade and invest in your favourite shares with the OANDA app. Over 2,200 products are supported by this service provider. Different product categories are accessible to OANDA users, including German, French, and UK shares associated with basic materials, utilities, and consumer goods.
The best thing about investing with OANDA is that you get access to no-commission US shares. As you know too well, eliminating commissions and other expenses is the key to reducing costs and enhancing potential returns. While investing in your favourite products, you can diversify your portfolio with CFDs on shares, indices, commodities, and other popular financial instruments.
Besides investable no-commission US shares, the OANDA app gives you access to hundreds of shares from other regions, from Germany to France. You can invest in select European products today and enjoy superb commissions starting from 0.15%. The available products are exquisitely sorted and filtered, making your work as a trader and investor nothing short of a breeze.
OANDA is also a superb service provider since it has no minimum deposit requirement. If your budget doesn’t support splurging from the get-go, trading and investing with this company’s magnificent app is highly advisable.
OANDA
✔Offers a negative balance protection
✔Customizable trading platform
Pros & Cons
Fees
Trading Assets
Pros
- Supports trading and investing in thousands of shares
- CFDs on currencies, commodities, indices, and other products are available
- Super-friendly commissions starting from 0.00%
- No minimum deposit requirement
- Users have access to MT5 and TradingView
Cons
- Higher withdrawal fees than its peers
- Dormant accounts are subject to a $10 monthly fee
OANDA broker has a clear fee structure with no hidden charges. This makes it easier for you to know how much you will be paying once you make a commitment. Some of the fees to incur at OANDA include the following:
| Trading and Non-Trading Charges | Details |
|---|---|
| Account Opening | $0 |
| Management Fee | $0 |
| Minimum Deposit Requirement | From $0, depending on your jurisdiction |
| Commission | From 0% on US-listed shares |
| Spreads | From 0.6 points |
| Deposits and Withdrawals | Free deposits. Withdrawal fees apply based on the payment method used |
| Inactivity | $10 after 12 months |
| Overnight Funding | Varies based on global market conditions |
| Currency Conversion Fee | Calculated by applying a 0.5% mark-up or mark-down |
3. AvaTrade – Best Stock Trading App for Beginners in Canada
AvaTrade is hands down the best stock trading app for beginners Canada. We evaluated countless service providers and found none that offer better tools for newbies and novices. The first element that left an impression on our team is the company’s educational platform, Ava Academy. It offers free courses with over 200 top-quality lessons and quizzes related to most, if not all, of today’s popular financial instruments.
Check out Ava Academy’s stock trading courses today. You’ll find almost everything you need to build a solid foundation and take your trading career to the next level. That ranges from a guide to getting started quickly to the nuances of the most advanced stock trading techniques. But don’t stop at these courses. We strongly urge you to master the basics of trading other assets since portfolio diversification is of utmost importance to traders.
Another aspect that makes AvaTrade an outstanding app is related to social and copy trading. With this service provider, no beginner should feel pressured into making their own decisions earlier in their career. As a registered AvaTrade account holder, you can source invaluable insights from a bustling community or copy the most successful traders – the choice is yours. Either of these options will put you in a better position to make sound decisions and earn revenue while increasing your knowledge base and sharpening indispensable trading skills.
We also consider the AvaTrade app ideal for beginners since it has a simple interface, responsive support agents, and demo accounts for practising with virtual money. Download this terrific solution from the App Store or Google Play to enjoy these and many other perks.
AvaTrade
✔Regulated by FCA
✔The platform supports algorithmic trading
Pros & Cons
Fees
Trading Assets
Pros
- Offers countless low-commission stocks
- Beginner-friendly interface with no unnecessary complexities
- Free courses with rich materials, including lessons and quizzes
- Users have access to MT4 and MT5
- Novices can leverage social and copy trading tools
- Supports automated trading
Cons
- Higher inactivity fees than its peers
- Fewer financial instruments compared to other industry leaders
Our experts investigated the AvaTrade broker’s fees and charges. We first noticed that the platform has a modest minimum deposit requirement of $100. What’s more, its users pay no additional costs while depositing funds or cashing out. That makes AvaTrade an ideal broker for both cost-conscious and newbie traders who want to test their waters with small capital before going all in.
That said, AvaTrade requires dormant account holders to pay $50 after every 3 consecutive months of inactivity. Moreover, if you let your account remain inactive for over successive months of inactivity, the broker will charge you a $100 administration fee. Not to forget, AvaTrade requires traders who hold positions overnight to cover a premium.
Here’s a breakdown of the fees you should expect to encounter while trading with this service provider:
| Fees and Charges | Amount |
|---|---|
| Spreads | From 0.9 pips |
| Administration fee | $100 |
| Inactivity fee | $50 |
| Overnight premium | Yes |
4. FxPro – Best Stock Trading App for Advanced Canadian Traders
Every seasoned stock trader needs an app with advanced features and functionalities, and that’s what FxPro offers. While exploring and testing this app, we discovered a couple of outstanding aspects. First, it has powerful TradingView charting features tailored to help traders make the best trading decisions. Its users also have access to robust account management tools and economic events that enable seasoned traders to make bold moves and trades at the most opportune moments.
FxPro users have access to thousands of global shares, including top products like Anglo American PLC, Zurin Insurance Group, Western Union Co, and more. You can use criteria like sector and industry to filter available products and zero in on your most preferred instruments. However, before doing so, note that this service provider focuses primarily on CFDs. You can trade CFDs on different shares without having to own the underlying assets.
Besides trading CFDs on shares, advanced Canadian traders can diversify their portfolios with CFDs on crypto, energy, forex pairs, and other financial instruments. Here’s more good news. FxPro has married its assets with low spreads starting from 0 pips and commissions as tight as $3.5/side.
FxPro also allows advanced traders to take their experience to the next level with MT4, cTrader, and other feature-rich accounts. In addition, the app’s users stay informed with smart trading signals, optimise security with 2FA, and stay on top of recent events with push notifications.
FxPro
✔24/7 customer support
✔Thousands of financial instruments
Pros & Cons
Fees
Trading Assets
Pros
- Users can harness the power of MT4, cTrader, and other exceptional solutions
- Low spreads and commissions
- 5-star customer support service
- Trades are executed in less than 12 milliseconds
- Traders can diversify with CFDs on indices, forex, and other assets
Cons
- $10 monthly inactivity fee
- Limited educational materials
Admittedly, FxPro isn’t the cheapest broker today. The company requires first-time users to make a $100 initial deposit to use a standard account, which is reasonable but can’t be termed as the lowest threshold. Also, Raw+ account holders must make an initial deposit of $500 or more. Additionally, anyone interested in the company’s Elite account offering must be ready to meet the $30k minimum deposit mandate. Please review and understand FxPro minimum deposit requirements before registering a live account.
When it comes to spreads and commissions, FxPro has juicy offerings. Everyone who opts for Raw+ or Elite gets the opportunity to enjoy sharp spreads starting from 0 pips. The numbers are higher for Standard Account owners, with the lowest spreads starting from 1.2 pips.
We have some good news for those worried about transaction fees inflating costs. FxPro doesn’t charge additional deposit or withdrawal fees. However, you may have to cover charges inflicted by financial institutions, depending on your preferred funding method.
Here’s an overview of the FxPro broker fees and charges:
| Fees and Charges | Amount |
|---|---|
| Minimum deposit | $100 |
| Spreads | From 0 pips |
| Transaction fees | $0 |
| Currency conversion fee | Yes |
5. Forex.com – Best Stock Trading App for Forex Traders in Canada
Many stock traders and investors like diversifying with forex products due to their ineffable liquidity. With that in mind, if you’d like to include currency pairs in your portfolio as a stock trader, sign up with Forex.com for the best experience.
Founded in 1999, Forex.com is used by over a million traders for the right reasons. For starters, this service provider gives its users access to thousands of financial instruments, from FX pairs and shares to stocks, crypto, and commodities. All you have to do is sign up to leverage the opportunities arising from having access to a broad range of products.
The Forex.com app supports over 80 tradable forex pairs. They range from CAD/CHF and AUD/CAD to CAD/JPY, EUR/USD, and USD/JPY. Many of the available instruments have low spreads starting from 0.0 pips. This boon comes with RAW spread accounts, so compare available options before getting started.
Forex pairs aside, Forex.com users have the golden opportunity to trade over 5,500 global stocks and shares. That includes thousands of headline UK and US brands like Amazon, Tesla, and Nvidia. However, like many of its peers, Forex.com supports stock trading with CFDs.
Pros & Cons
Pros
- Impressive range of products, from forex pairs to CFDs on thousands of shares
- Tight commissions and spreads starting from 0.0 pips
- App users can also trade CFDs on indices, crypto, and other financial instruments
- Supports trading with TradingView, MT4, and MT5
- Comes with robust charting and analysis tools
- It can be downloaded at no cost from the App Store and Google Play
Cons
- $15 monthly inactivity fee
- Canadians have to pay a $40 internal wire withdrawal fee
Stock Trading in Canada
Stock trading is a legal venture accessible to Canadians aged 18 and above. IIROC oversees all brokers, dealers, and trading activity in this region. That said, each province and territory has its own securities regulators. These entities recently teamed up to form an umbrella organization known as the Canadian Securities Administrators.
Since traders are required to pay tax in the Great White North, every Canadian trader should research and understand taxation laws from the get-go. To protect your data and assets from cybercriminals, restrict all your trading activities to apps and brokers with proper licensing and authorization.
What is a Stock Trading App?
A stock trading app is an IOS or Android application that allows you to buy and sell stocks. Most stock trading apps also give users access to other tradable financial instruments, from forex pairs and bonds to commodities, indices, and digital currencies. Download your trading apps from credible official sites like Google Play and the App Store to ensure you get genuine apps free of malware and other issues.
Mobile Trading and Stock Trading Apps
Dedicated stock trading apps make mobile trading possible. With an excellent mobile trading app, you can trade stocks anywhere, at any time. The best solutions have every feature pivotal to stock traders, from place order functionalities to market data monitoring tools and educational resources for new signees.
How to Choose the Best Stock Trading App in CA
With innumerable stock trading apps accepting Canadians, finding the most suitable app for you can be difficult. But you can’t and shouldn’t sign up with the first service provider that crosses your path. We highly advise against doing that since some of the available stock trading platforms have shoddy entities, including scammers, running things behind the curtains. You should exercise sufficient caution and vet every app based on these factors before signing up:
Licensing and regulation
Security and safety
Ease of use
Fees and commissions
Features and functionalities
Reputation and track record
Before using any app, ensure it’s regulated and authorised by a respected Canadian authority. The ideal product should also adhere to rules and standards set by authorities like ASIC, the FCA, and CySEC. Avoid apps with no apparent signs of proper licensing and regulation at all costs.
Check if your preferred trading app has all the right security features and protocols before signing up. It should show an unwavering dedication to ensuring your data and assets are safe. Also, research the app’s history of getting hacked and falling prey to other security issues.
An app with an intuitive, user-friendly interface can make your life easier, especially if you’re a beginner. That is why you should assess every product’s ease of use before committing. Additionally, check if your chosen app is optimised for mobile users.
Check every app’s fees, spreads, and commissions to prevent enormous costs from catching you unawares and compromising your returns. You should also vet every indispensable element, from account maintenance and deposit charges to inactivity fees and stock trading commissions.
If you have select tools you can’t trade without, look for an app that offers them. Otherwise, you should evaluate every service provider’s range and quality of supported tools before making serious commitments.
To avoid getting ripped off by scammers or losing invaluable data to malicious entities, assess the reputation of the company behind every stock trading app you choose. Use independent and credible sites like Google Play, the App Store, and Trustpilot.
Pros & Cons of Stock Trading with App
Below is a recap of the pros and cons of using stock trading apps Canada. Please review these elements and use them to verify if trading stocks with an app is a good move on your part.
Pros:
- With apps, traders can trade stocks and other financial instruments from anywhere, anytime.
- Most of the best apps offer guides, tutorials, and other educational materials indispensable to beginners.
- You can access most outstanding stock trading apps from an IOS or Android device.
- Most stock trading apps have an intuitive, user-friendly interface.
- Multiple respected authorities regulate the best stock trading apps, including IIROC.
Cons:
- Some apps focus too much on simplicity and sacrifice advanced features crucial to experienced traders.
- Since apps are easily accessible from anywhere, they can fuel overtrading and the arising consequences.
Conclusion
With one of the best stock trading apps, any Canadian can trade and earn decent returns. But profiting from stock trading isn’t as easy as it sounds. It requires ample knowledge, discipline, and well-honed skills. If you are new to the stock trading universe, work on educating yourself, master self-discipline, and practice with a virtual account first. Don’t risk your hard-earned money until you’re confident in your ability to earn consistent returns.
Related Articles: