Canadian Online Discount Brokerage Pricing Comparisons & Review – Mobile Trading Capability

Table of Contents:

  1. Introduction
  2. Overview of Common Account Types & CIPF Membership
  3. Commission Fees and Funding Requirements
  4. Overview of Registered Accounts – Fees and Funding Requirements
  5. Overview of Mobile Trading Enabled Sites
  6. Overview of Options Commission Pricing
  7. Conclusion


Last Updated: January 2014

Mobile Trading with Canadian Online Discount Brokerages

More and more Canadians are embracing mobile technology like smart phones and tablets.  It’s now possible to manage your investments or just trade stocks online while you’re on your lunch break, in a mall food court or even on the bus.  As long as you have an internet connection (that’s reliable) you’re now able to trade stocks securely and easily from just about anywhere.

The ways in which you can access your online discount brokerage’s trading functionality from your mobile device will be either via their regular website, a mobile optimized website or via a dedicated application (“app”) for trading.   Depending on the type of mobile device (e.g. if you use a tablet vs a smartphone), you might be able to use their regular website, however if you are using a smartphone, such as an iPhone or Blackberry, chances are you’d be better off using the mobile version of the website.  A mobile website is a website that is optimized for viewing on a smaller screen and that is easier to run on a smartphone than a regular website.  So, while there might not be as many bells & whistles, the functions that you need most are usually present on the mobile version of the website.

The realities of going mobile mean that you have to consider some issues like making sure you’ve got enough battery life, a reliable internet connection, a good data plan and that your smartphone or device has an app or can properly use the functions of your broker’s web-based trading platform.  So far it seems like Apple devices have a slight edge (in terms of coverage) over Android phones with Blackberry at the back of the pack.

One of the biggest challenges to trading on the go is reliable coverage for internet, and the chances for interruption of or disruptions to service are greater so even though it is a promising way to manage your finances, getting caught in a trade with a dead battery or an interrupted connection can spell disaster if you’re in time sensitive trades.   Of course if your phone is dead, it will make calling your broker for help that much trickier.  One important thing to keep in mind is the data-usage that trading on mobile devices will require, so be sure to look into your data plan and how much data the app you’re considering going with requires, as well as how it uses data (streaming data vs. refreshable quotes).

Legend:

= Offered and Free

= Offered with a catch

= Not Offered

CompanyTablet Friendly SiteWhat to use when trading on a smartphoneAndroid App AvailableApple App AvailableBlackberry App AvailableInformation LinkMobile Website Link
App OR Regular Website Mobile App Info Siten/a
App OR Regular WebsiteCIBC Mobile Info Site
n/a
Mobile WebsiteCredential Direct Mobile Site
m.credentialdirect.com
Mobile Website Disnat Mobile Info m.disnat.com
n/an/an/an/an/an/a
AppInteractive brokers Mobile Info Site
n/a
n/an/an/an/an/a
n/a
Mobile WebsiteNational Bank Direct Brokerage Mobile Info Site
http://m.nbdb.ca/
Mobile WebsiteSome models not supportedQtrade Mobile Site
client login page
App or Regular Website Mobile Platform Info n/a
AppRoyal Bank Direct Investing Mobile Site
n/a
App OR Regular WebsiteScotia iTrade Mobile Info Site

iTrade Mobile Tutorial
n/a
AppTD Waterhouse Mobile Info Site

TD Waterhouse Mobile Site Tutorial
n/a
App Power Trader Mobile n/a

Next Page: Overview of Options Commission Pricing

7 comments

  1. I have to disagree that TD Waterhouse is tablet friendly. The iPhone app (and there is no iPad app) is so limited that I would never rely on it for a stock trade. The website is marginally better but still pretty awful. No access even to the research PDFs, beyond the top half of the first page of a document, and the Java based charts are off limits.

    Even on a regular computer their software strikes me as pretty creaky, although admittedly usable. For all I know they may have one of the best mobile-friendly sites but that’s not saying much.

    • TD waterhouse mobile app is not available for my blackberry 9360. They have been promising the app for almost a year and still has not been released. Change the green checkmark in the article to a red checkmark. From my use of the app on my ipad I too am not very impressed with their app anyway. Am closing my TDW account and going elsewhere.

  2. Profile photo of Sparx_Admin

    According to the Blackberry App World page for the TD Canada App, the Blackberry 9360 is listed as a supported device (link here: http://appworld.blackberry.com/webstore/content/10661/) (whether it is actually supported is another matter). We’ll look into it and report back. In the meanwhile, at the time of writing, there are 694 reviews of the app and it received 3 out 5 stars (link to ratings and reviews here: http://bit.ly/W7XZx0).

  3. Well I use my RBC DI android app regularly. Not sure why there is a cross marked there. I have also heard a friend using Blackberry app for RBC DI. Someone doesn’t like them around here ;).

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