Choose a Brokerage

You need an online brokerage account to buy stocks and ETFs. The two best options for Canadians are:

Best for Beginners

Wealthsimple Trade

  • ✓ Commission-free stocks & ETFs
  • ✓ Fractional shares from $1
  • ✓ Beautiful mobile app
  • ✓ Free TFSA & RRSP accounts

Great for starting with small amounts. No minimum balance.

Best for Serious Investors

Questrade

  • ✓ Free ETF purchases
  • ✓ Powerful desktop platform
  • ✓ Norbert's Gambit for cheap USD
  • ✓ $1,000 minimum deposit

Best long-term choice for ETF investors. Industry-low fees.

Read our full Wealthsimple vs Questrade comparison →

Open a TFSA

A Tax-Free Savings Account (TFSA) is the best account type for most Canadian investors.

Why a TFSA First?

  • 100% tax-free gains — no tax on dividends, interest, or capital gains
  • 2026 contribution room: $7,000 new + any unused room from prior years
  • Lifetime room can be as high as $102,000 if you were 18+ in 2009
  • Withdraw anytime — no penalties, room is restored the following year

If you are 18 or older with a valid Canadian SIN, you can open a TFSA at any brokerage. It takes under 10 minutes.

See our TFSA ETF Strategy guide →

Fund Your Account

Link your bank account and transfer money in. Most brokerages accept Interac e-Transfer or electronic funds transfer (EFT).

Tip: Interac e-Transfer is the fastest option — funds typically appear in your brokerage account within minutes to a few hours. Start with whatever you can — even $100 is enough to buy your first ETF unit.

Buy Your First ETF

For beginners, we recommend an all-in-one ETF — a single fund that holds thousands of stocks and bonds globally. One purchase, instant diversification.

VGRO
Vanguard Growth ETF
80% Stocks / 20% Bonds
MER: 0.24%

Balanced growth. Great for investors with a 10+ year horizon who want some bond stability.

Popular Choice
XEQT
iShares Core Equity ETF
100% Stocks
MER: 0.20%

Maximum long-term growth. Best for investors under 40 with a high risk tolerance.

VBAL
Vanguard Balanced ETF
60% Stocks / 40% Bonds
MER: 0.24%

Conservative balance. Ideal for investors nearing retirement or with lower risk tolerance.

Read: XEQT vs VEQT — Which All-in-One ETF Is Best? →
How to buy ETFs on Questrade — step-by-step walkthrough →

Set Up Automatic Contributions

The most powerful investing strategy is also the simplest: invest the same amount every month, automatically.

Dollar-cost averaging means you buy more when prices are low and less when prices are high — automatically smoothing out market volatility. Even $100/month at 7% average returns grows to over $75,000 in 20 years. Set it up once and forget it.

Frequently Asked Questions

How much money do I need to start investing?

As little as $1 with Wealthsimple (fractional shares) or about $25–30 for one unit of most Canadian ETFs on Questrade. You do not need thousands of dollars to start.

Is investing risky?

All investments carry risk, but a globally diversified all-in-one ETF spreads that risk across thousands of companies. Historically, a global stock portfolio has returned about 7–10% per year over the long term. The biggest risk is not investing at all and losing purchasing power to inflation.

Should I use a TFSA or RRSP?

If your income is under ~$60,000/year, start with a TFSA — all gains are tax-free and there's no penalty for withdrawing. If your income is higher and you want a tax deduction today, consider an RRSP. If saving for your first home, look into the FHSA (First Home Savings Account).

How often should I check my investments?

For long-term investors using all-in-one ETFs, once a quarter is plenty. Checking daily is counterproductive — it encourages emotional decisions during market dips. Set up automatic contributions and review once or twice a year.

What about crypto?

Crypto can be a small part of a diversified portfolio, but get your core ETF investments in place first. Once your TFSA is invested in a solid all-in-one ETF, explore our crypto guides to learn about Bitcoin, Ethereum, and Canadian exchanges.