5 Best Investment Apps in Canada for 2020
Here is a list of the 5 best investment apps for Canadians to use in 2020:
| App | Fees | Best For |
|---|---|---|
| Wealth Simple Invest | 0.5% for basic accounts | Automated investing |
| Wealth Simple Trade | $0 commission stock trades | Self-directed investing |
| Questrade | $4.95 stock & ETF trades | Active traders |
| TD Direct | $9.99 per stock trade | Mutual fund investing |
| Mylo | $1 per month | Automated ETF investing |
Best Roboadvisor app in Canada: Wealth Simple Invst
Wealth Simple Invest is the top roboadvisor app in Canada for investors who want to build an automated passive portfolio. The company manages over $5 billion in assets and over 175,000 are currently using the app.
They offer 3 basic investing plans depending on how much you deposit. Here’s a quick breakdown:
- Basic Plan ($0 to $100k): 0.5% management fees w/ dividend reinvestments
- Black Plan ($100k+): 0.4% management fees w/ financial planning session & VIP airport lounge access
- Generation Plan ($500k): Everything in the Black plan plus more high net worth perks
