This post is meant to be a super quick summary of my go-to and recommended tools for trading and investing.
If you want to learn about getting started as a swing trader, you can check out this post.
Without further ado, here are my favourite tools for trading and investing (for Canadians!):
(*Psst: This post contains affiliate links. While I may receive some perks if you use these links, I only recommend products and services I personally like and trust.)
Trading platforms for Canadians:
- I have my retirement accounts with Questrade and focus on long-term holds, since commission fees are a bit high for active trading, but ETFs are free to trade, which is great for long-term investing strategies.
- Interactive Brokers
- This is my faaaaaaave tool for active trading for Canadians (and those outside the US, though I also highly recommend it for those in the US. Basically everyone!).
- Interactive Brokers has super low commissions, algo trading, and a ton of options for order types, PLUS no monthly activity fees.
- If you sign up with this link, you could receive $1,000 in IBKR stock.
- This is a great option for trading crypto in Canada.
- Because of regulatory requirements in Canada, several platforms choose not to operate here, but Newton was created specifically for Canadians and is known for their lower fees.
- Newton offers access to a fair number of coins, including BTC, ETH, XRP, SOL, LUNA, DOT, DOGE, LTC, and many more.
- If you join using my link, we BOTH get $25 when you add $100 in funds.
My favorite tool for stock charting (not just for Canadians!):
- The free version of TradingView is quite robust and for the most part has live data. The free version allows up to 3 indicators per chart, which could be sufficient, depending on your needs (especially if you’re just starting out). However, it only allows one watchlist (I need a bit more organizational capacity than that 😆 – I also use 5 indicators, so I use TradingView Pro, the first paid level).
- The user experience and interface are so great on TradingVIew, whether you’re using the desktop version or the app. Everything syncs, which I love, because I can check my charts on the go, wherever I am.