The best 5-year fixed mortgage rates in Canada + MORE Jul 12th

With so much investing info out there that can be both confusing and conflicting, it is challenging for Gen Zers and Xers to figure out how to get started, especially when you see social media “finfluencers” promoting individual stocks. Young investors not aware of the associated risks with day trading could end up making bad investment choices. Before dumping your money just anywhere, do your research and understand how an investment works along with the inherent risks and rewards. But first things first, let’s look at your options on getting started.

Types of investment services available in Canada—a comparison chart

If you’re ready to take the plunge to start investing, here is a breakdown of the three most popular options: self-directed investing, using a robo-advisor and hiring a financial advisor. 

Online brokerage (self-directed)Robo-advisorFinancial advisorFinancial knowledge neededIntermediate to advancedNone required None requiredMinimum amount required~$5,000 to $25,000$0 to $5,000• None required by law • Often $100,000 to $1 millionFees• Trading: $0 to $9…

Mortgages

The best 5-year fixed mortgage rates in Canada
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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

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Investing

The best GIC rates in Canada for 2023
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.

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Scan the table below to view GIC interest rates offered by financial institutions across Canada. These are current rates offered by Ratehub partners. You can find information about additional product options below.

Why trust us

MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

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