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People who want to create wealth and build a better financial future are always on the lookout for information and advice that can help them fulfill their goals. Often, investors, experts or budding, attempt to do this by connecting with other people online through communities like Facebook, Reddit, and various other stock forums.
Communities like these do a great deal to educate newbies, share investment tips, and even upcoming trends. They provide advice on investing for retirement, how to get out of debt, how to build a nest egg, and everything in between.
We have come up with a list of communities that will help Canadian individuals who are serious about investing:
The Best Social Networks For Canadian Stock Traders and Investors
This is a forum dedicated to Canadian personal finance enthusiasts. The community discusses everything in the realm of investing: Stock portfolios, equities, frugality, real estate, market trading, taxation, and retirement. This forum has been around since 2009, has over 164,000 members and almost 554,000 posts. The best part about this forum, apart from the posts and advice, is its FAQ page. Anyone new to the site can go through this and be ready to hit the ground running. This is important because there are multiple discussions on the forum, from retirement to cryptocurrencies. When one knows to navigate the site, searching for what one wants becomes a lot easier.
This is a subreddit group that is very popular for Canadians who want to talk and learn about personal finance. The group has over 503,000 members. The topics of “personal finance” include budgeting, goal planning, taxation, saving, investing, banking, credit cards, insurance products, life event planning, major purchase advice, unique deals and tips for frugality, employment, and other income sources, global or national economic news and discussions, and a variety of similar topics.” Topics on the group range from “Where do I start investing at 34 years old?” to “Grandfather died and I don’t know what to do.”
This is a private group on Facebook that focuses only on “dividend strategies and to learn from each other.” Dividend investing is a great way to create wealth, especially if you are retired and/or are looking for a regular source of income without too much risk. Dividend stocks are perfect for passive income. They make good additions to TFSAs (Tax-Free Savings Account) and are very popular with TFSA investors. However, the group is very selective about who can become a member. The group has only 9,338 members and added 30 in the last week.
If you want to make money, you have to be serious about it. Hashtag Investing follows this principle and so access to this exclusive community of investors is through a application. Discussions take place in real-time. The site says, “Think of us as WhatsApp style messenger groups built for stock investors to discuss and learn in real-time. Discuss stocks, market, options trading, day trading, and even chat with other Tesla investors from your mobile phone for quick feedback and quality discussions.” Hashtag Investing is integrated with Slack and its channels include Market Talk, Stocks, Options Trading, Daytrading, and Canadian Stocks.
Wealthsimple is a Robo-investing service that is focused on millennials. It helps its members create a long-term wealth portfolio by helping them invest in ETFs (exchange-traded funds). The Wealthsimple Trading Community is the Wealthsimple community’s reply to USA’s Robinhood group on Facebook. The group bio says, “Our group is a value-filled, fun, and positive community that connects members who want to learn and share info, advice & strategy about investing with Wealthsimple or in general.”
The tagline for this community is, “Where Canadian Investors Meet for Financial Education and Empowerment”. It focuses on personal finance and investing, from starting to retirement, savings, GICs, TFSAs, RRSPs, RRIFs, RESPs, RDSPs, taxes, stocks, bonds, preferred shares, indexing, ETFs, and more. FWF is an independent, non-commercial site that is run by volunteers. A very interesting offshoot of FWF is finiki, the Canadian financial wiki, a knowledge base of financial subjects written from a Canadian perspective. Finiki is a collaborative work that is primarily based on knowledge built up in Financial Wisdom Forum (FWF) discussions, and is presented in an easy-to-navigate and searchable format.
This forum has a very catchy motto: Canadians are Interested in investing and looking at the opportunity in the market besides being a potato. No investment opportunity is off the table, and this is a great forum to identify new ideas. Regular discussions in the community revolve around individual companies, ETFs, tax implications, and index investing. The group has over 175,000 members.
This is one of the leading providers of online promotions and shopping tools to Canadians. However, its Finance forum has emerged as a great community to help people out. There are almost two million posts on its finance forum. There are three sub-forums within Personal Finance: Investing, real estate, and credit cards. The community is very helpful. Example: During the tax filing period, public accountants pop up to answer questions that help members in filing their taxes.
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.