Charles Schwab in Canada: Investing Options & Account Types

Charles Schwab is an online trading platform and brokerage that allows users to trade ETFs, mutual funds, bonds, and other investment assets. Users can open retirement accounts and traditional investment accounts, such as IRA and Roth IRAs. Charles Schwab currently hold $7.3 trillion in client assets.

Charles Schwab offers a variety of different ways to invest, depending on how hands-on you want to be and how much you’re willing to pay in fees. If you’re the independent type, you can use its self-directed trading platform to trade stocks and ETFs. If you’d like more guidance then you can take advantage of its robo-advisor, which will build a portfolio of ETFs and manage it for you. If you’re really looking for some white-glove service, then you can go down the financial advisor route and get a bespoke, individually managed financial plan.

Wealthsimple Invest is an automated way to grow your money like the world's most sophisticated investors. Get started and we'll build you a personalized investment portfolio in a matter of minutes.

Is Charles Schwab available in Canada?

Unfortunately, Charles Schwab is currently not available in Canada. But the good news is that when it comes to low-fee, commission-free trading platforms and robo advisors, Canadians have a lot of alternatives at their disposal.

We might be a bit biased, but we think that Wealthsimple is a great option for both rookie traders and more experienced folks. Both our robo-advisor and our Wealthsimple Trade platform are ideal for traders looking for commission-free trading, regardless of how much assistance they want. Best of all, there’s no account minimum, no paperwork and you can choose to open a TFSA, RRSP, or a personal investment account. Get started with just a few taps in our mobile app.

Wealthsimple is anything but a fly-by-night startup; it’s received $265 million in investment from some of the world’s largest financial institutions in Canada and Europe. Our brokerage Canadian ShareOwner Investments Inc., which operates Wealthsimple Trade, is a member of the Canadian Investor Protection Fund (CIPF). CIPF is a program that insures all accounts up to $1 million against member firms’ bankruptcy.

Wealthsimple Trade currently supports stocks and ETFs trading on the following exchanges:

• Toronto Stock Exchange (TSX)

• TSX Venture Exchange (TSXV)

• New York Stock Exchange (NYSE)

• NASDAQ

• NEO

Curious to check it out? Sign up for Wealthsimple.