Written by Andrew MacCallum — Canadian Investing & Fintech Contributor
Content independently verified against current offer terms — Last verified May 1, 2026 · Next review August 2026
Our Rankings
Wealthsimple
Editor's PickBest for beginners and all-in-one investors
Questrade
Best for active stock traders
TD Direct Investing
Best for existing TD banking customers
RBC Direct Investing
Best for existing RBC customers
CIBC Investor's Edge
Best for existing CIBC customers
Full Platform Comparison
| Feature | Wealthsimple$25 Bonus | Questrade | TD Direct Investing | RBC Direct Investing | CIBC Investor's Edge |
|---|---|---|---|---|---|
| Stock trading fees | $0 | $4.95–$9.95/trade | $9.99/trade | $9.95/trade | $6.95/trade |
| ETF trading fees | $0 | $0 to buy | $9.99/trade | $9.95/trade | $6.95/trade |
| Account minimum | $0 | $1,000 | $0 | $0 | $0 |
| Mobile app quality | |||||
| Ease of use | |||||
| TFSA | ✓ | ✓ | ✓ | ✓ | ✓ |
| RRSP | ✓ | ✓ | ✓ | ✓ | ✓ |
| FHSA | ✓ | ✓ | ✗ | ✗ | ✗ |
Data sourced from public platform pages. Verified May 2026. Fees subject to change.
Frequently Asked Questions
What is the best investing app in Canada for beginners?
Wealthsimple is the best investing app for beginners in Canada. It offers $0 commissions, a clean mobile-first interface, TFSA, RRSP, and FHSA support, and a $25 signup bonus when you use a referral code and deposit $100 from an external bank.
Is Questrade better than Wealthsimple?
Questrade is better for active traders who frequently buy and sell individual stocks. Wealthsimple is better for beginners, ETF investors, FHSA users, and anyone who wants crypto in the same account. Wealthsimple also offers a $25 referral bonus; Questrade does not.
Which Canadian investing app has the lowest fees?
Wealthsimple has $0 commissions on all stocks and ETFs. Questrade has $0 ETF purchases but charges $4.95–$9.95 for stock trades and ETF sales. Bank brokerages (TD, RBC, CIBC) typically charge $6.95–$9.99 per trade.
WealthPerks Insight
The "best" investing app in Canada depends almost entirely on whether you want your money managed for you, or whether you want to manage it yourself.
Wealthsimple dominates for managed portfolios and beginner-friendly UX. Questrade dominates for self-directed ETF investing with low commissions. These two platforms cover the vast majority of Canadian retail investor needs — most other platforms serve niche use cases or have higher cost structures that are harder to justify for new investors.
How to Choose: A Decision Framework
| Your Situation | Best Platform | Why |
|---|---|---|
| New to investing, want it managed automatically | Wealthsimple Invest | Managed portfolios, clean UX, low $100 minimum |
| Want to buy index ETFs yourself (DIY) | Questrade | Free ETF purchases, low commissions, advanced platform |
| Opening first TFSA or RRSP, uncertain about investing | Wealthsimple | Lower learning curve, no minimum, managed option available |
| Saving for first home (FHSA) | Questrade | Offers FHSA with free ETF buys — low cost for long-term home savings |
| Want daily cashback, not investing | Neo Financial | Up to 5% cashback, no investing required, low minimum |
| Switching primary bank, employed with payroll | Simplii Financial | No-fee chequing, CDIC insured (CIBC), $400 bonus |
WealthPerks Take on Canadian Investing Apps
For most Canadians just starting out, the choice comes down to two questions: Do you want to be hands-off (Wealthsimple Invest) or hands-on (Questrade)? Both platforms are regulated, CIPF-protected, and well-suited to TFSA and RRSP investing. The referral bonuses are a meaningful incentive — but the long-term fee structure and investment approach matter far more than a one-time $25–$50 bonus.