Canadian Mobile Brokerage Rankings

Canadian Mobile Brokerage Experiences

The Mobile Brokerage Review was introduced in 2015. The review explores a typical mobile device-based investor experience, including both the pre-login and login areas, that evaluates the mobile journey through each investor process and typical investor experience.

The Latest Rankings

Canadian Online Brokerage firms have different approaches when it comes to providing self-directed investors with mobile-based platforms. The newest approach, and hopefully not the industry's future stance, is to provide self-directed investors with transactional-based mobile platforms with basic account and market information. The result is traditional account management, educational material, and the deeper investment information to form investment strategies must be performed on the desktop platform. The result is that for a self-directed investor to receive the best digital experiences, the investor is forced to use both handheld devices and desktops.
For the third straight year, QUESTRADE provides the best overall mobile-based self-directed discount brokerage investor experience through its layered platforms, designed to allow an investor to move along the self-directed investing growth cycle. Conversely, for the third straight year, WEATHSIMPLE TRADE provides the worst overall experience amongst rated firms due to its mainly transactional platform which, unlike QUESTRADE, does not offer a self-directed investor much opportunity for self-growth.
2022 Rank Brokerage Firm Peer Experience Score Full Company Analysis
1 Questrade 74 % See Likes & Dislikes
2 BMO InvestorLine 73 % See Likes & Dislikes
3 TD Direct Investing 69 % See Likes & Dislikes
4 National Bank Direct Brokerage 63 % See Likes & Dislikes
5 Qtrade Direct Investing 62 % See Likes & Dislikes
6 CIBC Investor's Edge 60 % See Likes & Dislikes
7 RBC Direct Investing 57 % See Likes & Dislikes
8 Desjardins Online Brokerage 55 % See Likes & Dislikes
9 CI Direct Trading 54 % See Likes & Dislikes
10 Scotia iTRADE 46 % See Likes & Dislikes
11 Wealthsimple Trade 33 % See Likes & Dislikes

Experience Categories

The Mobile Brokerage Review objective criteria is divided into six main categories, each weighted according to industry-defined importance, for an overall maximum score of 100.

Initial Experience - The Pre-Login

The category explores the services available through the pre-login mobile platform, available to both existing and prospective mobile investors.

Account Information Experience

Transactional Experience

User Experience

Market Intelligence Experience

Mobile Resources Experience

What we Measure and The Deep Dive that Differentiates.

# of Questions

The questions form the basis for the mobile analysis and represent the lowest level of features surrounding the main functionality under review. The binary questions are used to replicate the various actions an actual user would perform when using the mobile platform.

# of Criteria

The second step is the criteria analysis which places groupings of questions together to form the ‘experiences’ or usability encountered by a mobile user. For example, placing a trade is not simply pressing Buy or Sell buttons. The process involves supporting actions and information.

# of Sub-Categories

The third step places the individual experiences into relevant sub-categories that are grouped according to the general activity performed by a mobile user. The sub-categories are then assigned weightings according to the importance the group of experiences contributes within its category.

# of Categories

The last step takes the sub-category items under review and rolls them up into the final industry ranking and individual scores. In most cases, the category weightings are defined by the industry firms once the review is complete which then forms the final mobile scores and rankings.

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