An online brokerage is a software program that allows you to buy and sell stocks, bonds, exchange-traded funds (ETFs), mutual funds, and more from a single account. These programs are also known as discount brokerages in Canada, because they offer much lower fees than the full-service options offered by traditional financial advisors. With an online brokerage, you’ll invest your own money and choose the combination of stocks, ETFs, and bonds that will reach your long-term investment goals.
While it can be tempting to sign up for an account with the online broker that offers the lowest trade fees, there are many other factors you should consider when choosing the Best Trading Platform in Canada. You should look for a platform that aligns with your specific investing needs, including the types of markets you want to trade and the level of market data you’d like access to.
Best Trading Platform in Canada: Top Picks for 2025
Moomoo is a good option for investors who prioritize cost-effective trades and advanced analysis tools. Its free Level 2 market data enables you to dive deeper into the trends behind stock movements, while its suite of over 100 technical indicators and 45 charting tools can help you craft tailored trading strategies. The app is available in both English and French and supports four account types, including cash, margin, RRSP, and TFSA accounts.
TD Direct Investing is a popular choice among Canadian investors thanks to its flexible trading features and comprehensive research tools. Its WebBroker platform is simple and user-friendly, while its TD Active Trader provides a more advanced trading experience for more experienced traders. The site offers free ETF trading, no account fees, and an extensive range of registered and non-registered accounts, including RRSPs, TFSAs, and RESPs. It is also a member of the Canadian Investor Protection Fund (CIPF), which protects your money in the event of a firm’s bankruptcy up to $1 million for general accounts and $350, 000 for eligible registered and RRSP accounts.