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If you’re reading this, you are interested in money and are looking for the best Canadian stock Trading and investing websites. Now money is serious stuff, but it’s quite simple to understand how it works in life.
This article will focus on the first target of building wealth and the resources available to us to achieve that goal. It will have served its purpose if you understand the significance of saving and investing early on in life.
The Internet is a great educator. Anybody willing to expend some time and effort can bring themselves to speed on practically any topic under the sun. That includes money and investing. For free. Well, usually.
So here’s a collection of websites that an investor in Canada can browse to expand his investing and financial knowledge base, and get on with building wealth:
Best 30 Canadian Stock Trading and Investing Websites You Need to Bookmark in 2022
- Hashtag Investing
- Canadian Investor
- Canadian Couch Potato
- Advisor’s Edge
- TMX Money
- The Motley Fool
- Invesco Canada
- MY OWN ADVISOR
- Canadian Investment Review
- Purpose Investments
- Vanguard Canada
- Investing.com Canada
- MarketWatch Canada
- Young and Thrifty
- Globe Investor
- Yahoo Finance
- MSN Money
- Financial Post
- Boomer & Echo
- Money We Have
- Personal Finance Freedom
- Cut The Crap Investing
- Stock Card
moneysense is a website that crowd-sources its content. This content is grouped under the topics of Save, Spend, Earn, and Learn and Invest.
Additionally, it offers tools such as calculators (mortgage/RESP) and finders (mortgage/savings account/credit card/checking account).
The AskMoneySense page lets you ask questions of a panel of experts across the fields of retirement, auto, real estate, tax, insurance, career, investment, money, and wills & estate.
Stocktrades is a purely stock-focused website. Investors can refer to lots of lists, for example, “35 of the best Canadian dividend stocks,” or “Canadian gold stocks – 10 of the best in 2019,” and lots more.
The Buying Canadian Stocks-How To Buy Stocks Online page is an excellent resource on how to get started in online shares transactions.
hashtaginvesting.com is a vibrant social platform that has many Canadian stock investors.
Previously, Hashtag Investing relied on Slack as the communication platform for the site community. As users grew in number, the platform migrated to version 3.0 – a version that is very similar in working to live social media sites such as LinkedIn or Facebook, which allow real-time interactions.
Currently, the site is shaping to become the stock-focused social platform of choice, with its main value proposition of being an online environment minus evils such as trolls, spam, and privacy hacks.
In its Magazine section, investors can read content that addresses various aspects of investing.
Strewn across the community site are polls on imaginative stock topics that allow you to assess quickly market sentiment and thinking.
Members (the site is on free subscription till it garners 2,500 members) can also avail of promo codes and discounts on stock investing tools and services that are partners of Hashtag Investing. All in all, it is a young, up and coming social trading tool that will continue to grow.
Canadian Investor reports on financial news and investment opportunities in Canadian markets. It focuses on the business and activities of publicly traded companies, showcasing Canada’s best, and also up and coming.
News on stocks is categorized under cannabis, energy, mining, technology, real estate, and stocks-to-watch sectors.
Further classifications are available into categories such as agriculture, biotech, education, entertainment, financial, food & beverage, industry, investment, mining, oil & gas, pharmaceutical, retail, e-commerce and transportation, and logistics.
Canadian Investor is an excellent site for an investor with a top-down, sector-view approach, looking to track news on companies operating in specific segments of the economy.
The site’s screener is a valuable feature, with data on 1,480 companies on the facets of trading, historical price performance, fundamentals, and technical analysis.
Canadian Couch Potato
Canadian Couch Potato is well-suited for investors looking to ride on the current, popular trend in index investing via index mutual funds and indexed exchange-traded ETFs.
The site gets its name from the other name for index investing – passive investing.
This strategy avoids, in the words of the site, “overpriced, actively managed mutual funds and stock-picking strategies that try, usually in vain, to beat the market.”
Newbie ‘potatoes’ can take a look at some of the model portfolios featured on the site.
However, the layout and presentation of the site are quite rudimentary and amateurish.
Advisor’s Edge is a website that would probably be more popular with financial advisors than their investor clients.
However, investors can avail of some excellent learning resources in the Advisor to Client page with articles grouped under the topics of investing, financial planning, and tax. Somewhat more advanced, but highly educative resources are available on the Advisor to Go Podcasts page.
Investors with a more long-term horizon may like to sit on the other side of the financial advisory table and access the Retirement Resource Center as well as the page on Estate Planning.
Why should a tax website figure in this list?
It’s because taxes have a significant impact on your investment returns. Wise tax planning can reduce this impact and leave you with more money to continue building wealth.
TaxTips is the brainchild of a couple who achieved financial independence mainly by “living below their means and saving money. The only non-tax deductible debt they ever had was to buy and renovate their first home. One of their favorite sayings is “borrow to invest, never to consume.”
Tax resources for small businesses are presented well in this page.
Go from having nothing to being financially independent in 30 years or less.
GetSmarterAboutMoney.ca is a website run by the Ontario Securities Commission. Its main objective is to provide “unbiased and independent financial tools to help you make better financial decisions.”
New investors should read up the Investing Basics and Planning Basics pages.
Another excellent resource is the life events page that looks at the financial implications from events such as buying a home, death and dying, education, divorce, marriage, ageing, the birth of a baby, inheritances, retirement, and immigration.
TMXmoney.com is the official financial portal of the Toronto Stock Exchange and TSX Venture Exchange.
It is a very professional-looking, data-heavy site geared towards the advanced trader or investor.
The market activity section provides the current market, index and company information for Toronto Stock Exchange and TSX Venture Exchange, and US markets, including NYSE, NASDAQ, and AMEX.
Other features include news, research, screeners for stocks, mutual funds, and ETFs, and the facility to set up a portfolio and related alerts.
The TMX Matrix section is a dynamic, user-driven platform that highlights growth companies on the TSX Venture Exchange. TMX Matrix helps investors identify and study companies listed on a leading growth capital marketplace.
The Motley Fool
The Fool is a laser-focused site on everything stocks. The site is rich in news and generates fast accompanying commentary.
Investors may also like to refer to its page on 13 Steps To Financial Freedom.
Its top monthly stockpicks page is also widely read.
MillionDollarJourney is a feature-rich blog by an anonymous but real person going by the handle FrugalTrader. When he started this blog in 2006, FrugalTrader had a net worth of $200,000. He set a target to grow this amount to $1 million by age 35 in 2014. Interestingly, he documented the growth in net worth on the blog during the years.
He reached the target in June 2014.
His new goal?
“To generate $60,000/year in passive income by the end of the year 2020 (age 41).”
“Reaching this goal would mean that my family could live comfortably without relying on full-time salaries,” says FrugalTrader. “I would have the choice to leave full-time work and allow me to focus my efforts on other interests, hobbies, and other capitalistic pursuits.”
Now, that’s financial freedom!
How to do it – Financial Freedom 101
Invesco Canada was set up in 1981 with the primary aim to help investors achieve long-term goals. It is part of a global company that has offices in 25 countries and manages $1,197.8 billion in assets on behalf of clients worldwide (as of June 30, 2019).
Its products/solutions include mutual funds, ETFs, managed portfolios, and platform traded funds.
The site is worth visiting for its annual investment outlook series. Stock investors can glean insights from this resource to better position their portfolios for the future.
MY OWN ADVISOR
My Own Advisor is run by Mark Seed, a well-known Canadian blogger on personal finance and investing.
Keep your money management fees low (consider using low-cost ETFs)
Diversify your investments
Maximize contributions to your TFSA and RRSP (before taxable/non-registered investing)
Stay the course.
As for the site, it has a wealth of resources for the investor to browse through.
The page on dividends from stocks
Canadian Investment Review
Canadian Investment Review is from the stable of Transcontinental Media, which also runs the benefitscanada.com and Canadian Institutional Investment Network sites.
These are sites that are relevant to institutional investors and feature content from top industry analysts.
Not that these sites are out of bounds for the everyday investor. So, do read up and try to assimilate this content.
The page on Analysis & Research contains thought-provoking articles.
Purpose Investments is a fund house founded by Som Seif, previously of RBC Capital Markets and Claymore Investments.
“Our goal is always to be innovative, and to make investing simple, intuitive, and more affordable for everyone. In other words, it’s the investing experience we want for ourselves.”
Purpose is a site for investors looking to invest in innovative, low-cost funds.
Purpose Tactical Asset Allocation Fund
Vanguard Canada is also a fund house. It is part of The Vanguard Group, Inc. which managed $7.23 trillion in assets as of March 31, 2019.
Vanguard specializes in low-cost ETFs that have helped to lower costs across the industry – a phenomenon it calls the “Vanguard Effect,” and which made it a global indexing leader.
The site contains details of all its funds on offer.
Useful Vanguard links:
MapleMoney is a personal finance website founded and written by Tom Drake.
“MapleMoney’s mission is to help you learn how to make money, save money, invest money, and spend money in a way that helps you create lasting financial freedom.”
The best content on this site is categorized under those four ‘Learn’ tabs: How to make money, Save money, Invest money, and Spend money.
The Podcasts page.
Suggestion: Hear these podcasts on your daily commute. Learn about money…save time as well!
Serious investors can’t but miss Investing.com.
This content-heavy, superbly presented, and easy-to-use website is a must for anyone connected with the financial markets, no matter what their interest. Forex, stocks, futures, cryptos, commodities, bonds – it’s all there.
Throw in breaking news, charting, economic calendars, fundamental data, screeners, and webinars – and you’ll find yourself heading back here, time and again.
For a simple email registration you get to create your own watch-lists and portfolios.
It’s hard to choose between the desktop and smart-phone versions; both are excellent.
Hardbacon has a clear and straightforward mission: “To turn stock market investing into a simple and profitable process for everyone.”
Hardbacon’s mobile app can connect the user to various online brokerages and also provide analytics on the investor’s portfolio.
The desktop site helps out investors with an online course, an online magazine, a newsletter, and an encyclopedia.
Investors can also search for a financial advisor from amongst 120,000 Canadian financial advisors.
A comparison toolset is available to compare brokerages, credit cards, mortgages, insurance even robo-advisors.
MarketWatch Canada is a site dedicated to the financial markets. The site also includes currencies and futures, funds, ETFs, bonds, Cryptos, IPOs, cannabis, and options.
MarketWatch has sections on personal finance, retirement, and the economy.
The MarketWatch Virtual Stock Exchange. “Build your portfolio and react to the markets in real-time in a simulation. Compete against your friends or coworkers to earn your spot at the top of the leaderboards.”
As I said, there is no lack on the Internet of resources. It’s up to you to read, understand, absorb, and implement.
Young and Thrifty
The Young and Thrifty website is apt for those who want to earn more money or save more money or just simply lead a stress-free life. It is one of the best personal finance blogs in Canada where users will find information about a wide range of finance-related topics including tips on budgeting, online banking hacks, discount brokerage reviews, and Ultimate Guides relating to Canada’s Robo Advisors.
Whoever wants to buy their first ever homes, or earn maximum return on their banks savings, navigate their way through the complexities of the stock market, or simply know about the best credit cards in Canada can visit this website.
The Globe Investor website is one of the best ones to get access to all sorts of stock market related information. It houses every type of investment related information starting from the most recent market and business-related news to articles about personal finance in general or investment advices. Moreover, major US related or other international market related updates are also provided. So regardless of one’s needs as an investor, they are likely to find what they are looking for.
Opt for the Globe and Mail subscription if you want to know more about its content. Subscription starts at $1.99/week for 24 weeks.
If you want to get general business and stock market related updates then Yahoo Finance is one of the best places for you. Though this website is majorly focused on the US markets, Canadian investors can still access sufficient information which is relevant to them. One of the best things about Yahoo Finance is its ability to help an investor build their portfolios by letting them track stock prices.
Though the majority of information on this website is free for all to access, it also has a Premium feature where one can get much more comprehensive information by paying $350 per year.
If anyone wants information on personal finance, the stock market and investing all in one place, then MSN Money can be their one stop destination. On visiting the MSN website, one is going to find titles like “Best Online Banks for Your Money” or “Where to Sell Your Stuff for Top Dollar” as opposed to actual market related news. So, those who are more interested in personal finance related topics would find the MSN Money website quite appealing. Besides, the best part is every person can access MSN Money for free just by logging into their Microsoft accounts.
The Financial Post website provides detailed information about stock markets and also highlights tickers for commodities and currencies on its main page. It contains a bulk of articles relating to Canadian markets as well as information on commodities and currencies worldwide. So, if someone is a trader and deals outside of just the stock markets then the Financial Post website will be one of the best places for them to fulfill their daily dose of information needs.
Most of the articles on the Financial Post website can be viewed for free without opting for any subscription plans.
Boomer & Echo
The Boomer & Echo website contains more blog styled content as opposed to traditional styles of showing news. It is run by financial planner Robb Ergen who also provides financial advising services for sale on this website. Robb intended to be financially free by the age of 45 and thus over the years has gained experience by managing his own portfolio which is valued at over $100,000. On visiting his website Canadian investors can learn a lot about his journey because over there he often shares articles explaining his experiences.
By signing up one can also get hold of his free e-Book on Financial Management and also get new financial tips and money stories delivered to their inboxes every week.
Money We Have
Money We have is a blog that contains information on personal finance, trip planning, millennial money, gen Z money, credit cards, and trending destinations. This blog is one of the most trusted sources in Canada when it comes to information on personal finance and can be considered a goldmine for those looking for information on retirement savings, utilization of credit card rewards, or simply taking advantage of loyalty programs. So, the ones who are into the intersection of smart money decisions and travelling can refer to this blog for their daily dose of financial information.
Personal Finance Freedom
The Personal Finance Freedom blog comes with a unique perspective. What is unique about it is that its writer Sagar is not a finance professional but a software and IT consultant who has immense love for personal finance and loves sharing his experience with the masses. The website contains a range of information about things such as “How to Buy Bitcoin In Canada”, “Should You Get A Mortgage From B Lenders”, and “Online Payday Loans For Bad Credit”. So, anyone who wants a unique take on personal finance might visit this website.
Cut The Crap Investing
Cut The Crap Investing is a blog that contains information on topics like low-cost investing through ETFs, Robo advisors, and index funds. Its founder Dale Roberts is of the opinion that Canadians pay some of the highest fees in the world. So, through this website, he intends to help those Canadian Investors who pay out way too much in fees save their hard-earned monies. These fees can be for a wide range of reasons including investments and portfolios and can potentially even eat up all the investors’ gains making them lose thousands of dollars over the long run.
Stock Card is a Canada-based company that usually breaks down stock information into a form that is visibly digestible. So, if someone gets overwhelmed looking at lines of text or numbers then they must give the Stock Card website a try by paying $149.99 per year. One can use their 14 days free of charge service facility to know whether they like the service offered or not.
This Options Discord Chat is The Real Deal
While the internet is scoured with trading chat rooms, many of which even charge upwards of thousands of dollars to join, this smaller options trading discord chatroom is the real deal and actually providing valuable trade setups, education, and community without the noise and spam of the larger more expensive rooms. With a incredibly low-cost monthly fee, Options Trading Club (click here to see their reviews) requires an application to join ensuring that every member is dedicated and serious about taking their trading to the next level. If you are looking for a change in your trading strategies, then click here to apply for a membership.