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

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