QTrade Investor has cemented its place at the top of Canada’s online self-directed brokerage landscape with its third consecutive win, Surviscor revealed in its 2018 Online Brokerage scorCard Review.
“Our online review is our most comprehensive discount brokerage review identifying the best overall self-directed experiences,” said Surviscor President Glenn Lacoste. “We congratulate Qtrade Investor for its commitment to the industry and overall customer experience and its 3rd straight win.”
The ranking was based on Surviscor’s proprietary scorCard methodology that measures over 4000 objective usage-related questions across nine independent categories. The main categories for this year included Initial Experience, Service Experience, Mobile Experience, User Experience, Account Experience, Market Analysis Experience, Transactional Experience, Investing and Planning Experience, and Cost of Services.
“At Qtrade Investor, we’re passionate about our vision to empower self-managed investors to reach their financial goals,” said Catherine Wood, senior vice president and head of Digital Wealth with Aviso Wealth. “This year, we made a wide range of enhancements to our online and mobile platforms, with engagement as a key theme.”
Qtrade Investor managed an overall score of 85%. Questrade took second place once again with 79%, while BMO InvestorLine managed to take sole possession of third place with 75%.
The other firms, ranked in descending order, were:
- Scotia iTRADE (72%)
- TD Direct Investing (69%)
- RBC Direct Investing (68%)
- Interactive Brokers (67%)
- Virtual Brokers (62%)
- National Bank Direct Brokerage (59%)
- CIBC Investor’s Edge (58%)
- Desjardins Online Brokerage (56%)
- HSBC InvestDirect (51%)
“Online brokerages will need to continue to work hard to appeal to the new generation of self-directed investors who now have many more choices, such as robo platforms,” LaCoste said.
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