Canada

eToro Canada | What Investment Companies Can You Consider Instead?

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eToro is excellent platform that helps clients trade cryptocurrencies, CFDs, and regular stocks. This social trading platforms has brought millions of traders together from different parts of the world except eToro Canada.

What Will We Talk About Here?
  • eToro Canada is no longer available following certain regulation issues.
  • You can look into alternative options like Wealthsimple Trade, Investment Brokers, and Questrade.
  • When choosing an investment company looking into maintenance charges, upfront investment, and customer support service.

…and Much More!

eToro Canada – Is It Available?

eToro is currently available in more than 140 countries including the US, Australia, and Europe. However, the company, unfortunately, does not operate in Canada. This is due to certain registration issues that resulted in fine and discontinuation in 2018.

  • Alternatively, Canadians can make use of trading companies like Interactive Brokers and Wealthsimple Trade.

Looking into alternate options is importance since after its closure in Canada, eToro had declared that it is not likely to return.

eToro Canada Alternatives

Typically, investors don’t need to look past basic alternatives to eToro that are available i.e. Wealthsimple Trade, Interactive Brokers, and Questrade.

  • Wealthsimple is perhaps the best option available as it work on $0 commission bases and was the first online brokerage to be introduced in Canada.

Other than that, Interactive Brokers also has some pretty good features in stock including tiered discounts for those trading large volumes. However, it does charge a $0.01 per share commission fee. Questrade is a good choice for those who wish to avoid heavy charges yet purchase stocks, ETFs and other securities conveniently.

Extra Reading

eToro – In a Nutshell

eToro was launched in 2006 by Israel-based investors. It quickly became a famous online and web trading platform following its start a decade back. Perhaps the best features was that the company opened door for trading at global level through their OpenBook platform. Currently eToro offers trading in different sectors.

  • Commodities
  • Stocks
  • ETFs
  • Currencies
  • CFD Trading
  • Cryptocurrencies

It also provide real-time analysis of data much like live feed that is quite beneficial in stock exchange market. You can check out top-traders, make quick investments, and track investment strategies of leading traders as well.

How To Choose The Right Investment Company?

Choosing the right investment company for yourself is a tricky task since there is not a single option that is going to be suitable for everyone. Therefore, the answer depends on what you are looking for and which features you consider to be crucial for your trading. Here are a few things to keep in mind, anyway.

  • Consider Investment Companies That Offer Low Barriers To Entry

For newbies, dealing with high upfront investment fee can be a tough. Therefore, it is good to consider companies that have low or even $0 upfront investments. Leave the rest of the companies that require higher investment to investors with reasonable experience and expertise.

  • Good Customer Support Is of Utmost Importance

Although many don’t consider this as crucial element, customer service is something that you can take goo advantage of. Having good service and being in touch with the representatives is a must-have especially when you are managing your investments yourself.

  • Don’t Forget To Look Into Maintenance Charges

There are investment companies that do not charge any maintenance fee while there are other that make a quite a profit through them. Moreover, you can also look into options that are willing to waive off the charges if you keep up a certain level of trading with them.

The Bottom Line

Although eToro is an impeccable service offering range of features that you may not find anywhere else, it is sadly not available in Canada. Therefore Canadians can look into multiple alternatives that are operating within the region. Nonetheless, trading company can be difficult to choose so don’t forget to do a thorough online research before you opt for any.

Frequently Asked Questions

Is eToro Canada available?

Unfortunately, eToro is not available to Canadians. However, they can still make use of alternatives investment companies like Interactive Brokers, Questrade, and Wealthsimple Trade.

Is eToro legit and safe to use?

eToro is a secure platform where you can make safe investments without the fear of getting scammed. They operate with full transparency with their clients and have been doing so for many years in over 140 countries around the globe.

Can I use Coinbase in Canada?

Yes. Coinbase is operational in Canada along with 100 other countries. You can simply access their official website to sign up and begin managing crypto currencies in a secure manner.

Is Coinbase better than eToro?

Coinbase supports swift transfers and offers a number of other features as well. However, eToro is the only reliable choice when it comes to trading securities in the market.