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

User Experience

1st - Qtrade Investor
2nd - Questrade

ETF Trading

1st - Qtrade Investor
2nd - National Bank Direct Brokerage

Initial Impression

1st - Questrade
Tie-2nd - TD Direct Investing
Tie-2nd - National Bank Direct Brokerage

Fees

1st - Desjardins Online Brokerage
2nd - National Bank Direct Brokerage

Market Data

1st - TD Direct Investing
2nd - Qtrade Investor

Mobile Experience

1st - Questrade
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


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