MoneySense.ca Best Online Brokerage Firms
The Surviscor and MoneySense.ca Partnership
The MoneySense and Surviscor partnership was established 2013 between Jonathan Chevreau and Surviscor president and CEO, Glenn LaCoste. The methodolgy has been altered over the years and remains customized for MoneySense to include hundreds of data points, including price, customer service, product offerings and mobile capabilities. The review continues to boast Surviscor’s depth of data and deep-dive into the Canadian online brokerage marketplace.
The 2020 edition of the Best Online Brokers in Canada review represents the 8th annual edition in the partnership. This year, Glenn LaCoste, has not only contributed his 30-plus years of industry knowledge to the analysis, he has also penned the majority of the article, offering his take on the winners and valuable advice for the Canadian investor.
Whether you’re new to self-directed investing or a seasoned veteran, the 2020 Best Online Brokers in Canada review will provide you with valuable insight into Canada’s ultra-competitive discount brokerage industry, and help you get the most out of DIY investing.
MoneySense.ca - 2020 Top Firms by Experience Category
Open up the section to view the top firms in each exprience categoy
Customer Service
1st - Questrade
2nd - Qtrade Investor
2nd - Qtrade Investor
User Experience
1st - Qtrade Investor
2nd - Questrade
2nd - Questrade
ETF Trading
1st - Qtrade Investor
2nd - National Bank Direct Brokerage
2nd - National Bank Direct Brokerage
Initial Impression
1st - Questrade
Tie-2nd - TD Direct Investing
Tie-2nd - National Bank Direct Brokerage
Tie-2nd - TD Direct Investing
Tie-2nd - National Bank Direct Brokerage
Fees
1st - Desjardins Online Brokerage
2nd - National Bank Direct Brokerage
2nd - National Bank Direct Brokerage
Market Data
1st - TD Direct Investing
2nd - Qtrade Investor
2nd - Qtrade Investor
Mobile Experience
1st - Questrade
2nd - BMO InvestorLine
2nd - BMO InvestorLine
2020 Overall Points by Firm
The following table depicts the actual scores awarded to the firms reviewed. Each firm was assigned a score based on its ranking within the seven sections of review (5 points for 1st, 4 for 2nd, 3 for 3rd, 2 for 4th and 1 for 5th), and the overall score was the sum of the awarded sections.
| 2020 Rank | Brokerage Firm | Overall Points | 2019 Rank |
|---|---|---|---|
| 1 | Qtrade Investor | 25 pts | 2nd |
| 2 | Questrade | 23 pts | 1st |
| 3 | TD Direct Investing | 17 pts | 3rd |
| 4 | National Bank Direct Brokerage | 17 pts | 6th |
| 5 | Scotia iTRADE | 11 pts | 4th |
| 6 | BMO InvestorLine | 11 pts | 7th |
| 7 | RBC Direct Investing | 8 pts | 5th |
| 8 | Desjardins Online Brokerage | 5 pts | 10th |
| 9 | HSBC InvestDirect | 3 pts | 8th |
| 10 | CIBC Investor's Edge | 2 pts | 9th |
| T-Last | Virtual Brokers | 0 pts | Last |
| T-Last | Laurentian Bank Discount Brokerage | 0 pts | Last |
Brokerage Firms Monitored by Surviscor
Do you have 60 SECONDS to spare?
Are you up for a CHALLENGE?
Who doesn't LOVE a challenge?
#1MinuteChallenge
Or why you INVEST where you invest? #ItsMyBank
Have you ever really wondered why you BANK where you bank? #MyParentsToldMeTo
Take the #1MinuteChallenge and try our scorChoice Personalized Validation and Selection tool to simplify your quest for the right firm that suits your needs and personality.
It's time to find out if They Have What it Takes. #DoTheyDeserveMe