A Look at Top Canadian Investment Platforms
October 15, 2021
Do you ever imagine yourself living in the lap of luxury, driving exotic cars, and vacationing for a living? Indeed, it’s quite a fantasy, and some people are fortunate enough to actually live it. Most of the world’s wealthiest people attained their wealth by inventing something, starting a business, or investing.
The great thing about investing is it enables you to make money on someone else’s business idea. You can invest in reputable companies that have already achieved massive success, or you can put your chips in up-and-coming startups. However, it all starts with choosing the right investment platform. In this article, we’ll discuss some of the best Canadian investment platforms and what makes them the best.
Do you know something everyone loves? Free stuff! Wealthsimple offers commission-free trading, which is why it’s one of the most popular trading platforms in all of Canada.
It’s important to note that while there are no trading fees on Canadian stocks, you might still have to pay other fees. Furthermore, there’s a 1.5 percent trading fee for U.S.-based stocks and a nearly 2 percent crypto-trading fee. On the bright side, wealth simply offers cryptocurrency trading, which is growing in Canada, the United States, and the rest of the world. With all the money you can make trading crypto, you might need to use a reconciliation platform like ReconArt to ensure all of your accounts are in sync.
Questrade Canada is one of the country’s leaders in discount financial services. They offer more diverse account options than most other online trading platforms. You also get complete control over your investment strategy with Questrade. When you couple that with their rock-bottom fees and the fact they don’t charge fees on investments in ETFs, you can see why it’s one of the most popular investing platforms in Canada.
As you know, different platforms have different strong points, and Qtrade’s greatest strength is its customer service. You might not think customer service is valuable in trading until you need help making a critical decision quickly. Qtrade has a diverse customer base, and its investment options reflect that. Furthermore, Qtrade is one of the few discount trading platforms that offer mutual fund investing. Furthermore, you don’t have to pay any fees or commissions when you invest in a mutual fund using Qtrade.
CIBC Investor’s Edge is a subsidiary of the CIBC bank. It’s one of the best platforms for learning how to trade. It offers different tools, from analytics to Robo advisors to help you make wise investment decisions. Even though they charge a fee for trading ETFs, they still offer the lowest trading commissions of any of the big-bank brokerage firms. Investor’s Edge is a great platform for traders who already have a bank account with CIBC. You can count on getting friendly service and sound advice you’ve come to expect from them.
Canada is one of the best countries in the world in which to be an investor. Canadians enjoy one of the most robust markets on the planet and an opportunity to amass wealth unknown in many places. Indeed, Canada has the world’s tenth-largest economy and is by far the least populous country of the world’s largest economies, having 25 million fewer people than Italy, the country on the list next in fewest people. That says a lot about the vitality of Canada’s economy.
Using the right trading platform is key to getting the most out of your investments. It’s a good idea to do some research on different platforms and assets before you begin investing. If you make wise investments, you can have peace of mind that your investments will net you good returns in due time.