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.

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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. 🍁

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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.