The stock market has never been so accessible. With our smartphones, we have the ability to buy or sell stocks at any time, or invest in products designed for those who don’t want to complicate their lives. No matter your level of expertise or how much you want to invest, there is a perfect app for you! However, not all Canadian online brokers and robo-advisers have launched a mobile app. Some companies simply ignore their customers who want to invest using their mobile phones, while others have decided to adapt their website to these devices, without launching a dedicated mobile application. Here are 13 mobile applications offered by online brokers and robo-advisers serving the Canadian market in 2020.

 

Wealthsimple Trade

 

 

Wealthsimple Trade is an online brokerage service that allows you to buy and sell stocks or ETFs on the Canadian stock exchange without paying any fees. The online broker does, however, charge currency conversion fees on trades made in US stocks and ETFs, which makes investing in the US via this platform much less attractive. On the other hand, it is an ideal application for a beginner interested in investing in Canadian stocks, since trading Canadian stocks is free and there is no minimum amount required to start investing. This mobile application also lets you to monitor the price of your shares as well as trade them at any time.

 

How much does it cost?

This app does not charge any fees to trade Canadian stocks. For more details on fees, see our online broker comparison tool.

 

Number of stars

App Store: 4.7/5

Google Play: 4.3/5

Average: 4.5/5

 

Wealthsimple

 

 

Wealthsimple is the application of Canadian robo-advisor Wealthsimple. With it, you can invest in low-cost portfolios designed for different risk profiles. You can set up automatic deposit, so that you automatically save part of your income, or you can opt for a program to round up your purchases to the nearest dollar similar to that offered by the Moka application. With Wealthsimple, you can also choose a portfolio of socially responsible investments (investing in order to build a better world), or a halal portfolio (building a portfolio in accordance with Islamic law).

 

How much does it cost?

Expect to pay 0.5% of Assets Under Management (AUM) each year for anything less than $100,000, and that’s without taking into account the management expense ratio of ETFs held in portfolios. For more details on fees, see our robo-advisor comparison tool.

 

Number of stars

App Store: 4.5/5

Google Play: 4.1/5

Average: 4.3/5

 

Moka

 

 

Moka, formerly known as Mylo, is a mobile application that helps its users achieve their financial goals, save more, and invest in diverse portfolios. The app rounds-up daily expenses to the nearest dollar, so you save a few cents every time you make a transaction with your credit or debit card. The money saved is then invested in a diversified portfolio, making Moka an alternative to robo-advisers like Wealthsimple, but geared for a younger audience.

 

How much does it cost?

The monthly price to get access to all of Moka’s features is $3, without taking into account the management expense ratio of the funds held within the portfolios.

 

Number of stars

App Store: 4.4/5

Google Play: 4/5

Average: 4.2/5

 

IBKR Mobile

 

 

IBKR mobile is the mobile application of the Interactive Brokers online brokerage. The application allows you to buy and sell stocks, ETFs and other financial instruments. Since Interactive Brokers has operations in many countries, including Canada, this app gives you access to 135 stock markets in 33 countries and in 23 different currencies.

 

How much does it cost?

The transaction fee is 1 cent per share, with a minimum of $1 per trade. For more details on fees, see our online broker comparison tool.

 

Number of stars

App Store: 3.8/5

Google Play: 3.5/5

Average: 3.65/5

 

CIBC Mobile Wealth

 

 

The CIBC Mobile Wealth Management mobile application is the mobile application associated with the CIBC Investor’s Edge online brokerage. CIBC Investor’s Edge and CIBC Imperial Investor Service clients can use the app to buy or sell stocks, ETFs or other financial securities. CIBC Wood Gundy and CIBC Private Wealth Management clients can use the app to monitor their investment portfolio, but not to trade.

 

How much does it cost?

The fee is $ 6.95 per trade. For more details on fees, see our online broker comparison tool.

 

Number of stars

App Store: 3.3/5

Google Play: 3.6/5

Average: 3.45/5

 

CI Direct Investing

 

 

CI Direct Investing, formerly known as WealthBar, is the robo-advisor’s mobile application of the same name. Like the Wealthsimple app, this app lets you invest in a diversified portfolio of ETFs tailored to your risk profile.

 

How much does it cost?

Expect to pay 0.5% of Assets Under Management (AUM) each year for anything less than $150,000, and that’s without considering the management expense ratio of ETFs held in portfolios. For more details on fees, see our robo-advisor comparison tool.

 

Number of stars

App Store: 4.6/5

Google Play: 4.7/5

Average: 4.65/5

 

ModernAdvisor

 

 

ModernAdvisor is the application of the Canadian robo-advisor of the same name. You can invest in low-cost portfolios designed for various risk profiles. With ModernAdvisor, you can also choose a portfolio of socially responsible investments.

 

How much does it cost?

Expect to pay 0.5% of Assets Under Management (AUM) each year for anything less than $100,000, and that’s without taking into account the management expense ratio of ETFs held in portfolios. For more details on fees, see our robo-advisor comparison tool.

 

Number of stars

App Store: 5/5

Google Play: 4/5

Average: 4.5/5

 

Disnat

 

 

Disnat is the name of the Desjardins Online Brokerage trading platform, which is available in web and mobile versions. Like other brokerage apps, this app lets you buy and sell stocks, ETFs and other financial instruments. It also offers analytical tools to help you trade your shares on the stock market and track stock market developments. Disnat also provides access to educational content.

 

How much does it cost?

The fee is $ 6.95 per trade. For more details on fees, see our online broker comparison tool.

 

Number of stars

App Store: 3.9/5

Google Play: 3.4/5

Average: 3.65/5

 

Qtrade Investor

 

 

Qtrade Investor is the mobile application of the online broker of the same name. Owned by Aviso Wealth, the Qtrade platform has replaced that of Credential Direct since the merger of Qtrade, Credential Financial and NEI Investments in 2018. Like other brokerage applications, this application enables you to buy and sell stocks, ETFs and other financial instruments. Qtrade Investor also provides an overview of your portfolio to help you make better investment decisions.

 

How much does it cost?

The fee is $8.75 per trade. For more details on fees, see our online broker comparison tool.

 

Number of stars

App Store: 2.4/5

Google Play: 2.4/5

Average: 2.4/5

 

BMO InvestorLine

 

 

BMO InvestorLine is the mobile application of the online broker of the same name. Like other brokerage apps, it allows you to buy and sell stocks, ETFs and other financial instruments. You can also monitor stock market indexes and receive personalized stock market alerts. The application also provides you with search and analysis tools for securities.

 

How much does it cost?

The fee is $9.95 per trade. For more details on fees, see our online broker comparison tool.

 

Number of stars

App Store: 1.7/5

Google Play: 2.5/5

Average: 2.1/5

 

Virtual Brokers

 

 

Virtual Brokers is the mobile application of the online broker of the same name. Like other brokerage apps, this app allows you to buy and sell stocks, ETFs and other financial instruments. You can also view your transaction history and make deposits into or withdrawals from your brokerage account.

 

How much does it cost?

The fee is $7.99 per trade. For more details on fees, see our online broker comparison tool.

 

Number of stars

App Store: 2.8/5

Google Play: 2.8/5

Average: 2.8/5

 

Questrade

 

 

Questrade is the mobile application of the online brokerage of the same name, which is the largest independent online brokerage in Canada. Like other brokerage apps, this app allows you to buy and sell stocks, ETFs and other financial instruments. The application also enables you to search by security, access your trade history and make deposits into or withdrawals from your Questrade account.

 

How much does it cost?

The fee is $4.95 per trade. For more details on fees, see our online broker comparison tool.

 

Number of stars

App Store: 1.9/5

Google Play: 2/5

Average: 1.95/5

 

Scotia iTrade

 

 

Scotia iTrade is the mobile application of the online broker of the same name. Despite its name, the platform is not related to that of the American online broker E-trade, although its name is derived from it. In fact, in 2008, Scotiabank acquired E-Trade Canada. Like other brokerage apps, this app allows you to buy and sell stocks, ETFs and other financial instruments. It has the advantage of being compatible with Apple’s Touch ID technology, so that iPhone users who use this app will not have to remember their passwords.

 

How much does it cost?

The fee is $9.95 per trade. For more details on fees, see our online broker comparison tool.

 

Number of stars

App Store: 1.4/5

Google Play: 1.5/5

Average: 1.45/5

 

TD GoalAssist

 

 

TD GoalAssist is a mobile application launched by TD Direct Investing on October 27, 2020. It is a mobile, streamlined version with less functionality than the TD Direct Investing WebBroker platform. As the name suggests, the mobile app helps to link investments to financial goals. The app allows you to buy and sell stocks and ETFs at the same price as you can with a TD Direct Investing account, with one exception: There are no transaction fees when buying and selling ETFs belonging to the TD family of funds.

 

How much does it cost?

The fee is $9.99 per trade.

 

Number of stars

App Store: N/A

Google Play: N/A

 

 

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