Contact us now: Phone: +3556969696

Online Brokerage Reviews

Canadian Online Brokerage Analysis and MoneySense Magazine Review

Surviscor produces the most comprehensive online brokerage analysis in North America. Surviscor reviews Canadian discount brokerage firms who offer online brokerage service to self-directed investors in Canada. The minimum requirements are:

  1. Transactional capabilities in Canadian and US markets
  2. At minimum, the firm must be registered for business in Ontario and Quebec
  3. Minimum account opening balance requirement no greater than $10,000 CDN

Surviscor defines an Investor as a self-directed individual who typically:

  • Has the ability to understand the value of investing
  • Requires a well-diversified portfolio and a structured financial plan
  • Is self-reliant and prefers to self-direct his/her portfolio
  • Requires various tools and resources to make investment decisions
  • May display 'professional trader' activity traits; however, does not perceive investments as a job

The Canadian Discount Brokerage Review continues to expand. The scorCard™ reviews over 4000 features and functionality criteria questions which make up 36 sub-categories and 9 main categories. The main categories are:

  1. Getting Started - Initial Customer Experience
  2. Service Level Assessment
  3. Mobile Accessibility
  4. Website Design
  5. Account Services
  6. Market Intelligence
  7. Website Transactions
  8. Website Resources
  9. Cost of Services
The scheduled releases of the next Canadian Online Discount Brokerage scorCard™ is:
  • October/November 2018

Qtrade Investor provides the best overall online investor experience in the Canadian Online Discount Brokerage landscape according to Surviscor's 2017 Online Discount Brokerage scorCard Review. Qtrade Investor repeated as the top ranked firm for online discount brokerage services in Canada with another convincing win with a score of 90%, 11 percentage points ahead of 2nd place Questrade who moved up one position from 2016. Past multi-winner BMO InvestorLine and Scotia ITRADE finished in a tie for third place ahead of RBC Direct Investing and TD Direct Investing. CIBC Investor's Edge finished in 11th place, the worst showing of the big bank owned firms.

The firms' percentage score is based on the availability of its offerings as compared to the number one peers in each category. The 2017 review continued to use 4000 usage-based criteria questions with a commission model that analyses over 12,600 individual trades.

If you are questioning our rankings or perhaps your own current choices or if you would like to CREATE YOUR OWN RANKINGS using your OWN preferences, visit the Do-It-Yourself Zone and let our scorCHOICE tool do the rest.

Create My #1


1 Qtrade Investor 90%
2 Questrade 79%
3 Scotia iTRADE 77%
4 BMO InvestorLine 77%
5 RBC Direct Investing 72%
6 TD Direct Investing 70%
7 Credential Direct 69%
8 Virtual Brokers 64%
9 Desjardins Online Brokerage 62%
10 National Bank Direct Brokerage 61%
11 CIBC Investor's Edge 59%
12 HSBC InvestDirect 55%

For the fifth straight year, MoneySense magazine and Surviscor have partnered to produce the annual Canada's Best Canadian Online Brokerages review. The study was conducted in June and July of 2017 using Surviscor's most recent Canadian online and mobile brokerage features, functionality and service data to support the conclusions.

The methodology and results were jointly produced by Surviscor and MoneySense. CLICK on any firm for more detailed information and educational content. Additional Canadian brokerage firms not mentioned as well as all Canadian banking firms can be found by clicking: LEARN MORE ABOUT MY FIRMS

The category top picks and honourable mentions were:

Getting Started

Top Pick and Honourable Mention:
Questrade and TD Direct Investing

User Experience

Top Pick and Honourable Mention:
Questrade and Qtrade Investor

Fees and Commissions

Top Picks and Honourable Mentions:
CIBC Investor's Edge/Questrade and Qtrade Investor/Virtual Brokers

Customer Service

Top Pick and Honourable Mention:
Qtrade Investor and Desjardins Online Brokerage

Reporting & Recordkeeping

Top Pick and Honourable Mention:
BMO InvestorLine and Qtrade Investor

Market Data

Top Pick and Honourable Mention:
TD Direct Investing and Qtrade Investor

Best for ETF's

Top Picks and Honourable Mention:
Virtual Brokers/Questrade and National Bank Direct Brokerage


Top Pick:
Qtrade Investor

Honourable Mention:

Top bank-owned brokerages:
BMO InvestorLine and Scotia iTRADE

Digital release date: July 17, 2017

See Full Story

Interactive COMPARISON GRID and Tool

Current Rank 1
Overall Score (%) 99
Current Service Rating (%) 85
This is where the overview would appear. Testing for space...
Latest Ranking Report:
This is where the latest ranking report would appear. Testing for space...

View Company Page

Current Rank 3
Overall Score (%) 71
Current Service Rating (%) 85
This is where the overview would appear. Testing for space...
Latest Ranking Report:
This is where the latest ranking report would appear. Testing for space...

View Company Page