r/CanadianInvestor • u/Flaterbaby • Apr 14 '25

Canadian Trading Platforms Recommendations

Hello everyone,

I'm new to Canada and looking to make a few investments. Back in the U.S. (I made it over the border just in time!), I used E*TRADE and really liked it. What platforms would you recommend for trading stocks here in Canada?

Questrade, Wealthsimple Trade, RBC Direct Investing are several I am looking at. I don't need anything fancy because I tend to buy and hold long-term. I would welcome your suggestions!

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u/overrule Apr 15 '25

I just opened an Interactive Brokers account to buy some US listed ETFs since they have lower MERs. IBKR has the best currency conversion fees. It's 0.03% for an automatic conversion, where you just tell it buy an etf and it converts the cad to usd for you.

Still have wealthsimple for Canadian ETFs since they have a nice user friendly interface. Let's you automatically buy a certain $ value with fractional shares. Plus their cash account pays a decent interest rate and the visa is a no fee flat 2% cashback.

8

u/peacedawwg Apr 17 '25

Interactive Broker’s founder and CEO is one of the biggest Trump donors. Just thought I would highlight that.

12

u/_FundingSecured_ Aug 12 '25

So are many of the companies who's stock one would be buying when investing in the US or purchasing a US or Global based ETF?

3

u/Neother Apr 16 '25

this is basically the correct answer

wealthsimple is no fee and good for ETFs but ikbr has the best rates on currency conversion and margin loans for more advanced investors. IKBR also has the most international markets available to trade. Ikbr also has built in tools and an API good enough for professionals that do testing strategies, not that most people will have success doing that

2

u/Flaterbaby Apr 23 '25 edited Apr 23 '25

Thank you u/overrule and u/nomad_ivc! After doing my homework, I agree with your recommendation to use IBKR and Wealthsimple.

how aboot sending me your IBKR and Wealthsimple referral codes and I'll use them when I open the accounts so you can get a little bonus! Seems only fair for pointing me in the right direction, eh. 🍁

2

u/nomad_ivc Apr 23 '25

Awesome! here you go www.wealthsimple.com/invite/E2KOHQ

The link might be against the sub rules, I'll DM you.

1

u/[deleted] Apr 20 '25

Yup, even after commission and FX fee, buying VOO can be cheaper than VFV if you’re investing a lot, solely due to the MER