There are a variety of apps available to help you invest and automate your finances. Your choice will depend on your needs, goals and experience as an investor. There are robo-advisors that take a hands-off approach, brokerage apps that allow you to trade stocks and exchange-traded funds (ETFs) at low commissions, and savings apps that pay competitive interest rates.
Best Canadian Investment Apps for Beginners is a top Canadian brokerage app that offers a strong combination of low fees and features for beginners. The platform provides analyst reports and real-time data, as well as an intuitive mobile trading app. The app also allows for the purchase of fractional shares, making it more accessible for those on a budget.
Best Canadian Investment Apps for Beginners: Start Investing Today
Webull is another great option for beginner investors. The Canadian app offers commission-free trading on a range of assets, including stocks, options, ETFs and cryptocurrencies. The user-friendly app also offers advanced data and features for users of all skill levels.
The best robo-advisors for beginners in Canada offer no account minimums, with fees starting at 0.40% (Wealthsimple Black) and 0.45% (Wealthsimple Gen) in the cheapest portfolio tier. They also offer TFSA, RRSP and LIRA accounts for tax efficiency in Canada.
While not technically an investment app, KOHO has a unique feature called RoundUps that helps you save and invest money with every purchase. Using a prepaid card, the app rounds up each transaction to the nearest dollar and transfers the difference into your account, which you can use to invest or put toward your debt. The company’s goal is to make saving and investing a part of everyday life for all Canadians.…