Online Brokers (also known as discount brokers) are software platforms that allow users to trade stocks, bonds and exchange-traded funds. They provide lower fees than traditional full-service brokers and are ideal for investors who want to manage their own money on a self-directed basis. These online brokerages offer a variety of trading and account options, including retirement accounts and mutual fund accounts. They also offer a range of educational materials for beginners and more experienced traders.Find out :theinvestorscentre.com

TD Direct Investing is our top choice among the big bank brokerages, offering low per-trade fees and an excellent mobile app. The service has some glaring drawbacks, however, including the lack of a free ETF account and the inability to deposit or withdraw CAD from foreign accounts. CI Direct Investing, formerly Virtual Brokers, is another solid Canadian choice. Its surprisingly low per-trade fees and elite customer service have helped it rise to the top.

Online Brokers in Canada: How to Choose the Right One

In terms of security, all online brokers in Canada are required to be regulated by the Investment Industry Regulatory Organization of Canada (IIROC). This means that your money and investments are protected from hacking and other threats. Additionally, most reputable online brokerages are members of the Canadian Investor Protection Fund (CIPF), which further protects your assets from theft and bankruptcy.

When selecting an online broker, be sure to compare all of the available features. While the lowest trade fees might be tempting, consider other factors such as the overall quality of the platform, mobile apps and customer service.