Canadian Online Brokerage Rankings

Surviscor Canadian Online Brokerage Review

The Online Brokerage Review is Surviscor's longest running and most popular review. The review explores a typical desktop-based online investor experience, including both the pre-login and login areas, that evaluates the online journey through each investor process and typical investor experience.

What we Measure and The Deep Dive that Differentiates.

# of Questions

The questions form the basis for the online 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 online platform.

# of Criteria

The second step is the criteria analysis which places groupings of questions together to form the ‘experiences’ or usability encountered by an online 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 an online 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 online scores and rankings.

Online Brokerage Review - Experience Categories

The Online 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 online platform, available to both existing and prospective online investors.

Account Information Experience

Transactional Experience

User Experience

Market Intelligence Experience

Investment & Planning Experience

The Latest Rankings

It is well known that Canadians were early adopters of the internet. What is not as well known is the fact that one of the first Canadian financial services industries to adopt internet-based services was the self-directed discount brokerage industry which took flight in the early 2000's, following the lead of the progressive US self-directed brokerage pioneers like E*Trade, Ameritrade and Datek Online. It is an understatement that 2020 has been a challenge for all Canadians. The new work from home orders. Job losses, Income losses, financial stress, the list goes on. For this industry and the firms in this review, it has been a challenge of keeping up as they have seen record-breaking activity and profits through the pandemic, levels not seen since the early adoption of the online platforms.
2020 Online Experience Rank Industry Firm Peer Score 2021 Mobile Experience Rank
1 TD Direct Investing 90 % 3rd
2 Qtrade Direct Investing New Brand 89 % T-7th
3 Scotia iTRADE 88 % 10th
4 Questrade 86 % 1st - Edge Platform
5 RBC Direct Investing 80 % 6th
6 BMO InvestorLine 79 % 2nd
7 CI Direct Trading Formerly Virtual Brokers 76 % 9th
T-8 Desjardins Online Brokerage 72 % T-7th
T-8 CIBC Investor's Edge 72 % 5th
10 National Bank Direct Brokerage 68 % 4th
11 HSBC InvestDirect 65 % No Mobile Platform
12 Wealthsimple Trade New Firm 17 % Last-11th

Recent Surviscor Press Coverage