Top 20 Websites for Canadian Stock Investors
If you're reading this, you are interested in money. Now money is serious stuff, but it's quite simple to understand how it works in life.
Here is the basic process:
First, build wealth
(Warren Buffett: "Someone's sitting in the shade today because someone planted a tree a long time ago.")
Save, by spending less than you earn
Second, protect wealth and family
(Warren Buffett: "Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.")
Third, enjoy your wealth
(Warren Buffett: "I buy expensive suits. They just look cheap on me.")
A better lifestyle
Wait. This article is not meant to be a primer on financial planning or a treatise on a financially prudent lifestyle. However, by outlining the process above, I want to highlight the role of saving and investing in your life.
This piece 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.
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.
3. Canadian Investor
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.
4. 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.
5. Advisor’s Edge
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.
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."
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.
8. TMX Money
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.
9. Hashtag Investing
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.
10. 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
12. Invesco Canada
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.
13. 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
14. 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.
15. Purpose Investments
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.
16. Vanguard Canada
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!
18. Investing.com Canada
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.
20. MarketWatch Canada
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.