What are the best discount brokerages in Canada?

With that being said, we have 4 ranking pillars that we use to determine the quality of each of Canada’s discount brokerages: After all of that anecdotal and quantitative research, we think that Qtrade is likely to be the best online broker in Canada, at least for most people in 2023.

What is a discount broker?

However, the Internet has brought an explosion of discount online brokers that allow individuals with smaller capital to trade for lower fees and with less capital. In terms of the stock market, most discount brokers operate through online platforms. As a result, a discount broker is nearly synonymous with online brokerages.

What is an online broker in Canada?

This significant savings is the reason why online brokers are also known as discount brokers. While Canada’s online brokers provide roughly the same basic DIY investing and trading services, the platforms, fees and access to investing information can differ. How do online brokers make money?

Should you use a discount broker or a full-service broker?

Whether an investor opts for a discount broker or a full-service broker depends on their investing knowledge, market experience, financial goals, and current financial status. Since commissions typically take a healthy chunk out of investment and trading returns, some individuals opt to go for products offered by discount brokers instead.