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When is Trading 212 coming to Canada? Alternatives in 2024

Pedro Braz| Updated: February 29, 2024

Widely known in Europe, Trading 212 has attracted the attention of several Canadian investors, offering high interest on uninvested cash, a slick and modern app, low commissions, and a free share signup bonus.

Want to know if Trading 212 is available in Canada, the company’s expansion plans, and the alternatives available for Canadian investors? We’ve got you covered!

Is Trading 212 available in Canada? 🇨🇦

No, Trading 212 is not yet available in Canada.

Trading 212 is investing in its global expansion, however the company hasn’t shared publicly any plans to expand to Canada.

We have tried to open an account and Canada was not on their list of supported countries:

Trading 212 is not available in Canada

Trading 212 Alternatives in Canada

  1. Interactive Brokers: Best overall
  2. Saxo Bank: Best for experienced investors
  3. Wealthsimple: The closest alternative. Best for beginners
When is Trading 212 coming to Canada? Alternatives in 2024 1

#1 Best overall

Min. deposit of 0€
Offers interest on uninvested cash balances
Excellent reputation (founded in 1978)
View BrokerWhen is Trading 212 coming to Canada? Alternatives in 2024 2Read review
Interactive Brokers summary

IBKR is a leading global online broker which provides an advanced trading platform, a large selection of tradable securities, and low fees. It also launched IBKR GlobalTrader.

Supported countriesWorldwide (exceptions apply)Fractional sharesYes
RegulatorsFINRA, SIPC, SEC, CFTC, IIROC, FCA, CBI, AFSL, SFC, SEBI, MAS and MNB.Interest on uninvested cashEUR: 3.467%; USD: 4.83%; GBP: 4.75% (as of January 2024)
Products and MarketsStocks, ETFs, Options, Futures, Forex, Commodities, Bonds and Funds.
Saxo-logo

#2 Best for experienced investors

Min. deposit of $1,000
Offers interest on uninvested cash
Wide range of products
View BrokerWhen is Trading 212 coming to Canada? Alternatives in 2024 2Read review
Saxo summary

Saxo Bank is an investment bank specialized in online trading and investment. It is a global and leading online broker, offering access to most asset classes worldwide.

Supported countriesWorldwide (exceptions apply - not available in the USA)Fractional sharesNo
RegulatorsASIC, FSA, FCA, SFC, MAS, FINMA, DFSA.Interest on uninvested cashUSD: Up to 4.059%; EUR: Up to 2.65%; GBP: Up to 3.93% (as of January 2024)
Products and MarketsStocks, ETFs, Bonds, Mutual Funds, Crypto ETPs, Options, Futures, Forex, Forex Options, Crypto FX, CFDs and Commodities

62% of retail CFD accounts lose money.

When is Trading 212 coming to Canada? Alternatives in 2024 4

#3 Best for beginners

Offers interest on uninvested cash
Commission-free investing
Offers managed investments
View BrokerWhen is Trading 212 coming to Canada? Alternatives in 2024 2
Wealthsimple summary

Wealthsimple is a Canadian fintech offering stocks, ETFs, crypto trading, and other services such as managed investing, saving, and tax services. The trading platform supports thousands of stocks and ETFs listed only in major Canadian and US exchanges.

Supported countriesCanadaFractional sharesYes
RegulatorsIIROCInterest on uninvested cashCAD: Up to 5%
Products and MarketsStocks, ETFs and Cryptocurrencies

Moving to Canada: What Happens to Your Trading 212 Account?

For investors moving from Germany or another supported country to Canada, a common concern arises: what happens to your investments with Trading 212? Since Trading 212 is not registered in Canada, those who become tax residents in Canada will find that Trading 212 can no longer offer them services as retail investors due to regulatory restrictions.

Here’s What You Need to Know:

  • Once you become a Canadian tax resident, Trading 212 may not be able to serve you due to the lack of registration or passporting into the CAD financial system.
  • Investors are advised to choose a CAD broker to facilitate a “free” movement of their portfolio. This means transferring your investments without having to sell them, ensuring you can maintain your holdings without incurring immediate tax liabilities.
  • Trading 212 does offer a migration service for transferring out investments. It’s recommended to open a Canadian brokerage account first to ensure a smooth transition.

Conclusion

If you want to open a Trading 212 account from Canada, you’re in bad luck: it is not possible. However, we believe any of the above mentioned brokers will be good choices.

Whether you value security and reputation or want a commission-free trading platform, the alternatives presented should be a good starting point. Explore their websites and decide for yourself!

If you haven’t found a match, you can still look at our comparison of online brokers available by country.

Pedro Braz
Co-Founder & Growth Manager

Pedro is passionate about finance, marketing, and technology. He is a growth manager at several online projects and a former digital marketer for a fintech company.

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