Best Investment Apps in Canada for Beginners

Trading commissions used to eat into small investments. All four platforms in this guide now charge $0 commission on stock and ETF trades.

The real differences are in currency fees, account fees and how much help you get. We compared the best investment apps in Canada for beginners using only each provider’s official pricing page.

Key takeaways

• All four charge $0 commission on online stock and ETF trades as of September 2026.
• Currency conversion is the hidden cost: 1.5% at Wealthsimple and a 1.6% spread at BMO on conversions under $25,000.
• All four offer registered accounts, so you can invest inside a tax-sheltered plan such as an RRSP.
• Check what it costs to leave: Questrade and Qtrade charge $150 to transfer an account out.

Investment apps at a glance

Fees as of September 2026, from each provider’s official pricing page. Not ranked; see “How we compared”.

1. Wealthsimple

The one-app option: investing, a robo-advisor, chequing and a credit card in the same place.

At a glance

• Trading: $0 commission on stocks and ETFs; $0 per contract on equity options.
• Minimum: the Core tier starts at $1 in assets.
• Currency: 1.5% conversion fee on US-listed securities bought from a Canadian-dollar account. A US-dollar account costs $10 a month on Core.
• Managed option: 0.5% a year on Core, 0.4% on Premium ($100,000+).

Pros and cons

• Easiest start: low minimum and a clean app.
• You can switch between picking your own ETFs and a managed portfolio.
• Currency costs add up if you buy many US stocks.
• No branches.

How to open an account

Sign up in the app, choose the account type (TFSA, RRSP, FHSA or non-registered) and link a bank account. Our full Wealthsimple review covers every fee and product.

2. Questrade

A Canadian discount broker with free dual-currency accounts and a wide set of tools.

At a glance

• Trading: $0 commission on Canadian- and US-listed stocks and ETFs traded online.
• Options: $0 contract fees on US-listed equity options; $0.99 per contract on Canadian-listed options.
• Account fees: no annual account fees and no inactivity fees; TFSA, RRSP and FHSA are free.
• Currency: you can hold US dollars in registered accounts, with no forced conversions.
• Optional plan: Questrade Plus at $19.99 a month adds a 1% RRSP deposit match, up to the CRA limit.

Pros and cons

• Free dual-currency accounts help if you buy US stocks.
• Rebates transfer fees up to $150 per account when you move in.
• $150 to transfer an account out.
• The platform has more features than a first-time investor needs.

How to open an account

Apply online and fund the account by transfer from your bank. If you want Questrade to invest for you instead, its Questwealth Portfolios charge 0.25% a year on balances of $250 to $99,999.

3. BMO InvestorLine

A big-bank brokerage that cut its pricing on September 14, 2026.

At a glance

• Trading: unlimited $0 commission trades on stocks and ETFs.
• Options: $0.90 per contract.
• Account fees: BMO says there are no account minimum fees for any account, and the registered account annual fee is $0 for balances under $25,000.
• Currency: BMO lists a 1.6% conversion spread on amounts under $25,000, falling to 0.5% for $100,000 to $249,999.99.

Pros and cons

• Everything next to your BMO chequing and savings.
• $0 deregistration fee for RRSP and RRIF withdrawals.
• A 1.6% currency spread on conversions under $25,000.
• Options carry a $0.90 per-contract fee; Wealthsimple charges $0.

How to open an account

Apply online through BMO’s website, then fund the account from your bank. This is most useful if you already bank with BMO.

4. Qtrade

An online broker that also makes mutual fund trades commission-free.

At a glance

• Trading: $0 on equities, ETFs and mutual funds.
• Options: $0 plus $0.75 per contract.
• Bonds: $1 per $1,000 face value ($24.99 minimum, $250 maximum).
• Account fees: US-dollar registered accounts (RSP, RIF, TFSA) cost US $15 a quarter per account; account transfer out is $150.

Pros and cons

• $0 mutual fund trades; Questrade, for comparison, charges $9.95 per mutual fund trade.
• Electronic statements and confirmations are free.
• Holding US dollars in a registered account has a quarterly fee.
• Qtrade does not publish its currency conversion rate on the pricing page.

How to open an account

Apply online on qtrade.ca. Qtrade also offers a trial account so you can practise before funding.

How to choose your first investment app

• Choose Wealthsimple if you want the simplest start and may prefer a managed portfolio later.
• Choose Questrade if you plan to hold US stocks or ETFs in a TFSA or RRSP.
• Choose BMO InvestorLine if you already bank with BMO and want your investments in the same place.
• Choose Qtrade if you want mutual funds and ETFs with no trading commission.

Not sure you want to pick investments yourself? Our robo-advisor vs DIY comparison helps you decide. If you do go DIY, start with our guide to ETFs for Canadian beginners.

Check that the platform is regulated

All four display membership in the Canadian Investment Regulatory Organization (CIRO) on their official sites. CIPF protects client property at member firms up to $1 million per category of account, such as general accounts or retirement accounts, according to the Canadian Investor Protection Fund. It does not cover market losses. Be wary of apps that promise returns; see our guide to fraud and scams in Canada.

Checklist: your first month of investing

• Pick the account first: TFSA, RRSP or FHSA for a first home.
• Check your contribution room in CRA My Account.
• Set up an automatic monthly deposit, even a small one.
• Buy one or two broad ETFs rather than many single stocks.
• Note the currency conversion fee before buying anything listed in the US.
• Leave the app alone on bad market days.

How we compared

• Checked: every fee on September 23, 2026, on each provider’s official pricing page.
• Order: no ranking. Sections run from the simplest start to the most features; our top pick for most beginners is in the Quick answer.
• Criteria: trading commissions, account fees, currency costs, minimums and ease for a first-time investor.
• Scope: self-directed platforms available to Canadian residents.
• Independence: no provider paid for placement.

FAQ

How do I start investing in Canada as a beginner?

Open a TFSA or RRSP at a regulated platform, fund it by bank transfer and buy a broad, low-cost ETF. Add a fixed amount every month.

How do I invest in the Canadian stock market?

Through a brokerage account. All four platforms here let you buy TSX-listed stocks and ETFs for $0 commission as of September 2026.

Should a beginner buy ETFs or single stocks?

Many beginners start with ETFs, because one fund holds many companies. Single stocks carry more risk from one company’s results.

Can I buy bonds with these apps?

Qtrade and Questrade publish bond pricing: $1 per $1,000 face value at Qtrade and $24.95 per trade at Questrade. Bond ETFs trade like any other ETF.

How much money do I need to start?

Wealthsimple’s Core tier starts at $1. The other three pricing pages list no account minimum, but check each platform’s account fees before a small first deposit.

Are investment apps safe?

Regulated platforms are CIRO members, and CIPF protects client property if a member firm fails. Neither protects you from a falling market.

For the full picture, see our hub TFSA / RRSP / FHSA Guide 2026, the TFSA limit for 2026 and the mistakes to avoid and the RRSP deadline and limits for 2026.

Sources

• Wealthsimple — Pricing and fees
• Questrade — Pricing
• Questrade — Administrative fees
• Questrade — Questwealth Portfolios
• BMO InvestorLine — Pricing and fees
• Qtrade — Pricing
• Qtrade — Fees
• CIPF — About CIPF coverage

Ieveera SEO is an independent publisher, not a bank or financial advisor; content is for information only and may include paid affiliate links that never affect our rankings — always confirm current rates and terms with the provider. Rates shown in CAD; verify with the issuer. Investing involves risk, including loss of principal. Not investment advice. Past returns don’t guarantee future results.