Best investment apps for beginners in Canada: top picks, fees & tips

Choosing the best investment apps for beginners might feel confusing at first. If you’re new to investing, you may think it’s only for people with lots of money or financial knowledge. But that’s no longer true. Today, many apps are made for beginners. They’re simple to use, have low fees, and let you start investing with just a few dollars.

Investment apps make it easy to grow your money, even if you don’t have much experience. With just your phone and an internet connection, you can buy a piece of a company or a fund and begin building your future.

In this guide, you’ll find the top beginner-friendly investment apps in Canada. We’ll explain how they work, what fees they charge, and how to choose the right one for your needs. You’ll also get practical tips for getting started, even on a low income.

Keep reading to learn how easy it is to start investing and taking control of your financial life.

The best investment apps for beginners (2025 update)

Choosing the right investment app can be the first big step in building your financial future. In Canada, several beginner-friendly platforms stand out for their ease of use, low fees, and flexible investment options. Let’s explore the top picks for 2025:

Wealthsimple

Wealthsimple is one of the most popular platforms in Canada for beginners. It offers both robo-advisor services, which automatically manage your investments, and a self-directed option for those who want more control. You can start investing with as little as $1, and there are no trading fees on Canadian stocks.

The app also supports fractional shares, making it easy to buy portions of expensive stocks. However, U.S. trades carry a 1.5% currency conversion fee, and the robo-advisor service comes with a management fee starting at 0.5%. Despite this, Wealthsimple remains a top choice for new investors thanks to its simple interface and automated features.

Questrade

Questrade is another strong option for beginners, especially if you want to explore self-directed investing. It offers $0 commission on stocks and ETFs, and its options trading is competitively priced at $0.99 per contract. Questrade also supports dual-currency accounts, which helps reduce foreign exchange fees when buying U.S. stocks.

While it requires a minimum deposit of $1,000 for most accounts, the platform gives you more control and better research tools than many other apps. New users might find the interface a bit complex at first, but the cost savings and flexibility are hard to beat.

Other options

There are also other platforms worth considering. Qtrade Direct Investing is a solid choice with good customer service and educational resources, though it charges around $8.75 per trade. TD Direct Investing offers strong research tools and bank integration, but comes with higher fees.

CIBC Investor’s Edge and newer apps like Moomoo also provide accessible ways to get started. While each of these has its pros and cons, the most important thing is to find an app that fits your budget, goals, and comfort level.

To help compare, here’s a quick breakdown of how the main options stack up:

Each app has strengths that appeal to different types of beginners. Whether you want a hands-off experience or more control over your trades, there’s an option that can help you start investing confidently in 2025.

How to choose the right app

When picking your investment app, here’s what to consider:

• Fees: Look for apps with no commissions or low FX charges.
• Support: Decide between robo-advisors (automatic help) or self-directed (you choose everything).
• Minimums: Start with an app that lets you begin small.
• Education tools: Some platforms include videos, articles, and guides.
• Currency flexibility: If you want U.S. stocks, check for dual-currency accounts to avoid exchange fees.

For extra help, check out the Government of Canada’s investing guide or Investopedia’s beginner tips.

Tips for beginners using investment apps

Here are 3 simple tips to help you make the most of your app:

1. Start with ETFs: They spread your money across many companies, reducing risk.
2. Invest regularly: Set up automatic deposits—even small ones add up over time.
3. Don’t chase trends: Stick with your plan and avoid reacting emotionally to the market.

Investing with low income

You don’t need a lot of money to start investing. Many of the best investment apps for beginners in Canada let you start with just a few dollars. Wealthsimple, for example, allows you to invest from $1, and Questrade has no fees on stock and ETF trades. These small amounts might seem minor, but over time they can grow into something meaningful.

Another smart strategy is to make investing part of your monthly routine. Even if you can only set aside $10 or $20, doing it consistently every month helps build strong habits. Most apps offer automatic investing tools, which means you don’t need to remember to make a transfer every time—it happens for you, like paying a bill.

Also, look for apps that allow fractional shares, which means you can buy a portion of a stock instead of the whole thing. This is perfect for expensive stocks like Apple or Tesla that can cost hundreds of dollars per share. Instead of saving up for one full share, you can start small and still benefit from growth.

Building wealth on a low income is possible with discipline, consistency, and the right tools. These apps help make that journey easier by removing high barriers and offering features that support new investors. It’s never too early—or too late—to start investing, even if you’re beginning with just a few dollars.

For more financial stability, you might also consider protecting your future with life insurance for low-income families, which supports long-term planning.

Pros and cons summary

Pros:

• Easy to use on your phone or computer.
• Low fees and transparent pricing.
• Great for learning how investing works.

Cons:

• Some apps charge extra for U.S. trades or data access.
• Requires discipline to avoid emotional decisions.
• Not all platforms offer full education resources.

The best investment apps for beginners in Canada make investing easier, cheaper, and more accessible than ever. If you want a simple, automatic solution, go with Wealthsimple. If you want more control and lower trade costs, try Questrade. Looking for a traditional bank setup? Check TD, CIBC, or Qtrade.

No matter your income, you can start building wealth today—one small step at a time. Open your account, make your first trade, and keep learning. Your future self will thank you.