In our latest annual meetings, we have seen reports demonstrating that many investors have decided to go out on their own and trade by themselves, with self-directed accounts. Burned by questionable financial advisors, they prefer to use a DIY investing strategy. So for those Canadians who have decided to invest on their own, here’s a list of 8 free websites designed for Canadian investors. While they are not all exclusive to the Canadian market, you should bookmark all of them in order to gain a complete view of your investments and all possibilities.
General Canadian Investor Information Websites
This is obviously the main source for any Canadian investor. You will find a handful of lists detailing information about any mutual fund. You can compare them, get the Morningstar rating, historic yields and fund description. This is probably one of the best places to start the selection process for Canadian mutual funds.
Another great read if you like to know what is going on with the stock markets. With its continuous news, financial bloggers and automatically refreshing quotes of the main indexes (not to mention currency and resources), Globeinvestor.com is a great resource for Canadian investors. You can build a model portfolio and start trading like the big guns of Wall street. Most of their features are free for the young (and young at heart) Canadian investor. If you want more, you can get even more resources through Globeinvestor Gold.
Based on the fundamentals issued by Benjamin Graham’s investing strategy, the well known Canadian portfolio manager Michael Irwin shares his investment philosophy on this website. Within a few clicks, you will also find more information about his recent moves and why he purchased these stocks. This could be a great inspiration if you are looking for a new stock to buy.
General Websites for Canadian Investors to Access Diversified Information
The name says it all! You want to see the chart of an index, a stock, commodities? Big Chart can draw whatever you want in a few simple clicks. You can also compare different stocks with indexes or inflation. This is definitely a great (free) investing tool!
Hear the wisdom of the most prolific investor of all time… Mr. Warren Buffett. You can learn more about his thoughts on the market or his previous moves. Unfortunately, we cannot really have access to his kind of investments (like preferred GE shares he bought in 2008 issuing huge dividend payouts!).
The link above takes you to a page where you can get your first symbol analyzed (technical analysis). From there you can easily add more symbols to get a daily update. It is as easy as entering the symbol and you get the free analysis! Trend Analysis covers over 300,000 symbols (stocks, futures, forex, ETFs, mutual funds). The tool doesn’t cost anything and is used by professionals to supplement the tools they are currently using.
Intelligentspeculator.net (all right, I admit, we own this blog 😉 )
We may author this blog, but the main guy behind it is a CFA, a trader AND is making more than 70% with his stock picks in 2009. So if you are looking for a good read about stocks or simply market commentaries, Intelligent Speculator can be a great site to add to your favorites!
Follow Specific Information about Investments
Looking to trade Canadian bonds? This site should be your reference for all Canadian fixed income vehicles. Along with Canadian bond information you have a direct access to question Hank Cunningham, a well advised Canadian bond trader and founder of the site.
You want to make sure that Jim doesn’t drop all his RIM shares before he announces poor results, you can follow trades done by the big guys of major Canadian companies. You can also find Canadian stock analyses.
If you are looking to buy precious metal, this is probably the best place around. Kitco is a well established company providing services to buy and sell precious metals such as gold and silver. If you want to buy yourself gold coins, this is the place to go. You can also find graphs and financial analysts’ reports on gold.
And if you want to invest money in a website…
If you want to pursue your investing adventure even farther and you have $538 (USD please) per year to invest in your research, you can find valuable information at Valueline. They provide information on stock that is hard to find and independent firm reports on the market and specific companies. It could be interesting to count on an independent source of information in this world full of Bernie’s 😉
I don’t know if I have missed other Canadian investing websites, there are a lot to cover! Do you have other resources that can be useful for a new or advised investor?
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