More than a third (34 per cent) of Canadians have adopted online investing or are considering doing so, a new survey has found.
The BMO InvestorLine survey also found that Canadian investors appear to be looking for reputable information and insight when they invest online with 45 per cent saying they are seeking more investment knowledge and a third concerned about investing with inadequate advice.
One of the key attractions of online trading is perceived flexibility. The vast majority, 63 per cent, of respondents said they liked being able to invest on their own schedule. Some 62 per cent enjoy the control and confidence that accompanies making investments online.
Just over half, 55 per cent, prefer investing in individual securities with a small majority of investors (51 per cent) investing in mutual funds.
In terms of research, 60 per cent say media is their number one source of information, while 50 per cent use general web searches.
Canada has also been seen as an excellent option by overseas investors, Derek Holt, vice-president of Scotia Capital Economics, said last month.
Canada has a lower government debt compared to other countries and is increasingly attractive to foreign investors, particularly for investors who also wish to immigrate. Canadian investor immigration numbers have steadily increased over the last few years.