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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).
= Offered and Free
= Offered with a catch
= Not Offered
|Company||Tablet Friendly Site||What to use when trading on a smartphone||Android App Available||Apple App Available||Blackberry App Available||Information Link||Mobile Website Link|
|App OR Regular Website||Mobile App Info Site||n/a|
|App OR Regular Website||CIBC Mobile Info Site ||n/a|
|Mobile Website||Disnat Mobile Info||m.disnat.com|
|App||Interactive brokers Mobile Info Site ||n/a|
|Mobile Website||National Bank Direct Brokerage Mobile Info Site ||http://m.nbdb.ca/|
|Mobile Website||Some models not supported||Qtrade Mobile Site ||client login page|
|App or Regular Website||Mobile Platform Info||n/a|
|App||Royal Bank Direct Investing Mobile Site ||n/a|
|App OR Regular Website||Scotia iTrade Mobile Info Site |
iTrade Mobile Tutorial
|App||TD Waterhouse Mobile Info Site |
TD Waterhouse Mobile Site Tutorial
|App||Power Trader Mobile||n/a|