Robinhood is a commission-free trading app that allows users to buy and sell stocks, ETFs, options, and cryptocurrencies. Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood has made investing more accessible to individuals who may have been deterred by high fees charged by traditional brokerages.
Robinhood has gained popularity for its easy-to-use interface, low fees, and the ability to trade fractional shares. The app has also been credited with helping to democratise the investing landscape by allowing individuals with limited funds to invest in the stock market.
With zero commission fees, a user-friendly interface and real-time updates, Robinhood succeeded in the US, and Canadians hoped to have their own Robinhood Canada.
However, Robinhood is unavailable in Canada, and Canadian residents are not eligible to use Robinhood. So, if you want to know if there are any Robinhood-like Apps in Canada or the best Canadian equivalent of Robinhood, stay with me.
In this article, I will discuss nine powerful trading platforms in Canada that can go head-to-head with Robinhood, offering even better features to make your trading experience worthwhile.
Is Robinhood Available in Canada?
No. Robinhood is not available in Canada. Canadian residents cannot use Robinhood, and only US citizens, resident aliens (i.e. permanent residents), or anyone with legal status can sign up to use the App.
Is Robinhood Coming to Canada?
There is no official announcement from Robinhood about coming to Canada in the near future.
At one point, Robinhood tweeted that it would be coming to Canada and announced plans to expand to the UK and Australia.
However, those plans were postponed indefinitely in 2020, and it doesn’t seem like Robinhood intends to expand anywhere outside of the US now.
9 Alternatives to Robinhood in Canada
Many Canadians wonder when Robinhood will be available in Canada, but the answer is: “Not anytime soon”. However, several platforms in Canada allow Canadians to invest in the stock market and make money on the proceeds from investing.
These trading platforms, like Robinhood, offer free ETFs and stock trades and maintain an exemplary reputation and service with their amazing features.
Here are our best picks for trading apps that will give you the same benefits as Robinhood and even more.
1. Qtrade Direct Investing™
With a history dating back to 2000, Qtrade Direct Investing is among Canada's oldest trading platforms, catering to beginner and advanced investors with equal aplomb. Its intuitive design and well-thought-out interface make it an excellent choice for novices, while its advanced research tools cater to the needs of more experienced investors.
Qtrade is our top alternative to Robinhood in Canada. Besides low trading fees, Qtrade is also known for its simplified trading solutions.
Unlike other investment platforms, Qtrade allows you to invest in the US and Canadian markets without commission on a select group of ETFs. Even as a beginner, you can start on Qtrade by using its trial account to build your trading skills.
If you open a new Qtrade account between March 5, 2025 and October 31, 2025, you will enjoy a sign-up bonus of $50 and up to $150 if you open 3 accounts.
To be eligible, you must use the promo code “OFFER2025” when signing up.
In addition to the sign-up offer, Qtrade offers up to $150 per Transfer Request when the client transfers-in $15,000 or more.
Pros
- Commission-free ETF trading (buy and sell)
- Intuitive interface
- Access to mutual funds,
- Access to a trial account and research tools
Cons
- It doesn’t support credit cards and e-wallet funding
- $25 quarterly account maintenance fee (waived if some conditions are met)
RELATED: Qtrade Review 2025: Is This Brokerage Platform Worth It?
2. Questrade
Questrade is an online discount brokerage established in 1999 with a $25 billion asset under management. Its popularity in Canada lies in its low commission, low trading fees, and multiple ranges of accounts. As a result, both beginners, intermediate and seasoned investors in Canada find Questrade attractive for DIY and active management investing.
Key Features
- Free tax-loss harvesting
- Low management fees
- Several investment options
- Automatic portfolio rebalancing
- Active management
- Ease of use
Questrade discount brokerage is a top choice for Canadians to invest in the stock market. It has low commission and trading fees, making it a better choice for DIY investors looking for a low-cost way to invest in the stock market.
The trading interface is intuitive and clutter-free, making it easy to navigate between different features. It also has a great mobile app that lets you access your account on the go
You can trade stocks, options, bonds, FX, CFDs, precious metals, and other financial instruments. Questrade offers a wide range of account types, including RRSPs, RESPs, TFSAs, RDSPs, LIRAs, etc.
Questrade allows you to trade in US dollars, so there are no currency conversion fees to deal with, and you can purchase stocks that cost as little as one penny, but fees range from $4.95 to $9.95.
Pros
- Low management fees
- Multiple investment accounts and products
- Active management
- Automatic portfolio rebalancing
- Ease of use
Cons
- $1000 minimum investment requirement
- Commissions on selling ETFs and trading stocks
- Limited research tools
Features Robinhood Questrade Account Minimum Zero $1,000 Commissions for ETF Zero For buying: $0; For selling: up to a maximum of $9.95 per trade Commissions for Stock Zero Between $4.95 - $9.95 per trade Investment types Stocks, ETFs, Options; Cryptocurrency Stocks, ETFs, Options; Cryptocurrency, Bonds; Mutual funds, CFDs, GICs; Forex, International Equities; & more Account types Personal non-registered accounts; Margin accounts Registered accounts like: RRSP, TFSA, RESP, LIRA, RIF; Personal non-registered accounts, Margin accounts; Business, Estate, Trusts & more Mobile App Yes Yes Desktop App Yes Yes Security 2-Factor Authentication DIGICERT encryption Balance Protection SIPC protection up to $500000 CIPF protection up to $1 million; $10 million private insurance Promotion Not Applicable Yes Other Services Offered Cash management account Socially responsible investing; Managed investing through Questwealth
RELATED: Questrade Review 2025: Canada’s Best Discount Brokerage
3. Wealthsimple Trade
Wealthsimple Trade is a great trading platform that offers commission-free buying and selling of thousands of stocks. Its user-friendly interface and mobile-optimized investing dashboard make it easy to navigate and accept various payment methods, such as bank transfers and debit cards. In addition to traditional online stock trades, Wealthsimple Trade allows you to engage in other investment activities. It supports both taxable and registered (non-taxable) accounts such as RRSP and TFSA, and there is no minimum balance requirement when opening an account, making it accessible for investors with little money.
Another good alternative to Robinhood is the Wealthsimple Trade. This app lets you buy and sell thousands of stocks commission-free.
It has an easily navigable interface and a mobile-friendly investing dashboard. Also, it accepts several payment options, including bank transfers and debit cards.
Wealthsimple Trade is extremely easy to use. It allows you to make traditional online stock trades like buying, selling, shorting, longing, and hedging.
You can trade with taxable and registered (non-taxable) accounts like RRSP and TFSA. There is no minimum balance requirement when opening an account, so you can invest with little money.
Through Wealthsimple Crypto, you’ll be able to trade cryptocurrencies. The investment app is sleek, easy, and undoubtedly good enough to go head-to-head with Robinhood Canada.
Pros
- No minimum balance
- Commission-free stocks and ETFs trading
- Advanced educational tools
- International accounts
Cons
- High management fee
- Limited account options
Features Robinhood Wealthsimple Trade Account Minimum Zero Zero Commissions for ETF Zero Zero Commissions for Stock Zero Zero Investment types Stocks, ETFs, Options; Cryptocurrency Stocks, ETFs, Cash; Cryptocurrency Account types Personal non-registered accounts; Margin accounts Personal non-registered accounts; RRSP; TFSA Mobile App Yes Yes Desktop App Yes No Security 2-Factor Authentication 2-Factor Authentication; Encryption Balance Protection SIPC protection up to $500000 CIPF protection Promotion Not Applicable Yes Other Services Offered Cash management account Wealth management; Socially responsible investing; Halal investing; Fractional Shares; VIP accounts
RELATED: Wealthsimple Trade Review: The Complete Pros and Cons in 2025
4. Newton
Newton Exchange is a cryptocurrency platform ideal for individuals new to the world of digital assets. Its user-friendly interface is perfect for those who want to explore cryptocurrencies for the first time. The platform also accepts Interac e-Transfer, a convenient payment option for Canadians who want to fund their accounts. Newton Exchange offers a diverse range of cryptocurrencies, including Bitcoin, Ethereum, Polkadot, Cardano, Tether, Dogecoin, Ripple, and numerous others. 
Newton could be your best alternative to Robinhood Canada if you only want to trade cryptocurrency.
Like Robinhood, Newton offers commission-free trading and a user-friendly platform with an intuitive interface. The app also includes advanced order types, real-time market data, and security features such as two-factor authentication and biometric login.
With over 25 cryptocurrencies, Newton charges no fees on deposits, trading, and crypto withdrawals. However, Newton focuses on cryptocurrency, so you can’t trade other securities.
Pros
- Free deposits and crypto withdrawals
- Zero trading fees
- Fast deposits through Interac e-Transfer
- 25+ cryptocurrencies available
- Low speeds
- Beginner-friendly
Cons
- Only cryptocurrencies are available (you can’t trade stocks and ETFs)
- It may be slow when the crypto market surges.
RELATED: Newton Crypto Review (2025): Fees, Features, Pros, Cons and More
5. BMO InvestorLine
BMO InvestorLine is the discount brokerage arm of the Bank of Montreal (BMO) Financial Group and is also one of the top alternatives of Robinhood Canada.
Besides offering access to other BMO online services, BMO InvestorLine allows you to access representatives in-branch.
BMO InvestorLine recently eliminated commissions from their over 80 ETFs trading, making it a cost-effective trading option for investors. BMO InvestorLine typically offers more promotions than any other bank-owned brokerage in Canada.
Pros
- Commission-free trading on 80+ ETFs
- Comprehensive investing platform
- Top-notch research tools
- No minimum account balance requirement
Cons
- Higher fees compared to Robo advisors
- $9.95 per EFT and stock transaction
- $9.95 per EFT and stock transaction
- Have fees for registered and non-registered accounts fallen below $25,000 and $15,000
RELATED: BMO InvestorLine Review (2025): Pros, Cons & Trading Fees
6. TD GoalAssist
TD GoalAssist App, owned by TD Direct Investing, is a beginner-friendly trading app with an intuitive interface available to Canadians.
TD GoalAssist charges zero commission on trading TD ETFs, and with this app, you can set your investing goals and monitor your progress while training to succeed.
Pros
- No commission on trading TD ETFs
- Beginner-friendly
- Learning materials
Cons
- $9.99 flat fee for stocks trading
- Only TD ETFs are available
- Limited accounts
- Limited products
- Currency conversion fees
7. Interactive Brokers
Interactive Brokers (IB) could be your ideal alternative to Robinhood Canada if you’re an intermediate or seasoned investor.
Different organisations have rated IB as the world’s best online brokerage for years, and this is because of its low trading fees, high liquidity research tools, and broad coverage spanning 135 markets.
From registered to non-registered accounts, IB covers any accounts you need to invest in.
Pros
- Access to international markets (135)
- Low exchange rates for CAD deposits.
- Multiple account types and securities
- Low trading fees
- High liquidity
Cons
- High monthly fees
- Poor customer service for Canadian investors
- Tax Implications for Canadian investors
8. CIBC Investor’s Edge
CIBC Investor’s Edge is the discount brokerage arm of CIBC Investor Securities that offers Canadians low-cost investment solutions.
It is one of the top alternatives to Robinhood Canada because of its competitive commissions and trading fees as compared to other banks in Canada.
CIBC Investor’s Edge serves investors of all classes, from beginner to seasoned investors.
Pros
- Competitive commissions and trading fees compared to other banks in Canada
- Multiple investment accounts and securities
- Discounts for students and active traders
- Free educational resources, analyst reports, and research tools
Cons
- Charges annual account maintenance fee for registered and unregistered accounts
- High trading fees compared to Robo advisors such as Wealthsimple and Queswealth.
9. Scotia iTRADE
Scotia iTRADE is the brokerage arm of Scotiabank, one of Canada’s “Big 5” banks. Scotia iTRADE could be your advanced version of Robinhood Canada if you’re an intermediate or seasoned investor.
In addition to discount commissions for day trading, you can access a demo account and market research to improve your trading strategy through Scotia iTRADE.
Beginner and intermediate investors will also find Scotia iTRADE cost-effective trading.
Pros
- Discount commission for day trading
- Access to research reports
- Access to demo accounts
Cons
- Annual fees for registered and unregistered accounts.
- High trading fees than Robo-advisors
RECOMMENDED READINGS:
- Best Options Trading Platforms in Canada
- 10 Best Crypto Exchanges in Canada for 2025 & The Complete List
- 10 Best Trading Platforms in Canada (2025)
- A Step-by-Step Guide on How to Buy Stocks in Canada 2025
Final Thoughts on Robinhood Canada
Robinhood is a commission-free trading app that has made investing more accessible and affordable for individuals in the United States.
Despite its success in the US market, Robinhood is unavailable in Canada due to regulatory challenges and other legal considerations.
However, other trading apps, such as Qtrade and Wealthsimple Trade, have emerged in Canada with similar features, offering Canadians a transparent and accessible way to invest in the stock market and cryptocurrencies.
So why not try it and start building your investment portfolio today?
