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 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 | Strongest Result | 2020 Mobile Experience Rank |
|---|---|---|---|---|
| 1 | TD Direct Investing | 90 % | Market Information | 4th |
| 2 | Qtrade Direct Investing New Brand | 89 % | Market Information | 6th |
| 3 | Scotia iTRADE | 88 % | Account Management | 9th |
| 4 | Questrade | 86 % | Account Opening | 1st |
| 5 | RBC Direct Investing | 80 % | Planning & Analysis Tools | 7th |
| 6 | BMO InvestorLine | 79 % | Account Opening | 3rd |
| 7 | Virtual Brokers | 76 % | Account Management | 10th |
| T-8 | Desjardins Online Brokerage | 72 % | Research & Fundamental Analysis | 8th |
| T-8 | CIBC Investor's Edge | 72 % | Charting and Technical Analysis | 5th |
| 10 | National Bank Direct Brokerage | 68 % | Charting and Technical Analysis | 2nd |
| 11 | HSBC InvestDirect | 65 % | Global Equity Transations | No Mobile Platform |
| 12 | Wealthsimple Trade New Firm | 17 % | Account Opening | Last |
Brokerage Firms We Review
Recent Surviscor Press Coverage
BNN Bloomberg:
Surviscor 2021 Brokerage Fees Review
BNN Bloomberg's Jon Erlichman and Glenn LaCoste discuss Surviscor's newest analysis of Commissions and Fees in the Canadian self-directed online brokerage industry.
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BNN Bloomberg:
The Sustainability of $0 Commissions in Canada
BNN Bloomberg's Jon Erlichman and Glenn LaCoste discuss the sustainability of $0 commissions in Canada and why novice investors should be careful.
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BNN Bloomberg:
The BEST and WORST Customer Service Firms
BNN Bloomberg's Greg Bonnell and Glenn LaCoste discuss Surviscor's most recent financial services service level rankings and overall concerns for consumers.
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BNN Bloomberg:
Analyzing Online Brokerage Fees and US Consolidation
BNN Bloomberg's Greg Bonnell and Surviscor's Glenn LaCoste discuss US brokerage firm consolidation and the possibility of $0 trades into the Canadian market.
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BNN Bloomberg:
What does $0 commissions in the U.S. mean for Canadians
BNN Bloomberg's Greg Bonnell and Surviscor's Glenn LaCoste discuss how U.S.-based Charles Schwab's decision to reduce retail commissions to $0 should not affect Canadians in the near future.
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BNN Bloomberg:
2019 Surviscor Online Banking Rankings
BNN Bloomberg's Greg Bonnell and Surviscor's Glenn LaCoste discuss which Canadian banking firms are offering the best online banking experience and how Canadian's should ensure they choose the best banking alternative.
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BNN Bloomberg:
Your Money Month
Picking the Best Online Broker
BNN Bloomberg's Amber Kanwar and Jon Erlichman and Surviscor's Glenn LaCoste discuss how Investors should approach choosing online brokerage platforms as part of BNN's Your Money Month.
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