A much more efficient way of tracking the movements of all your investments is via a portfolio tracker. A portfolio tracker is used to track the movement of holdings in your portfolio.
Best Stock Portfolio Trackers in Canada for 2021
Now that you know what a stock portfolio tracker is, you might be interested in finding the best portfolio trackers in Canada. First of all, full disclosure – the best portfolio tracker is the one that fits your preferences. There is no one-size-fits-all tracker that we can suggest right away. However, after thorough research, we have brought you a list of the most authentic and well-reviewed portfolio trackers. Here are the best portfolio trackers you can find in Canada:
The most notable name in the portfolio tracker industry is that of Morningstar. This US-based company is an investment research firm that provides data insights on a wide range of holdings. The company manages assets worth more than $220 billion.
The company is an industry stalwart when it comes to Fund Ratings. Their ratings are considered to be the most accurate, and it highly influences the stock prices. Research shows that funds that were rated highly by Morningstar showed a net positive influx of investment for 12 straight years, from 1998-2010. All funds are ranked on a curve using data analytics and risk & return ratings.
Morningstar finds its popularity among the masses due to its user-intuitive ranking system. Morningstar assigns a value between 1-5 stars to every fund, where a 5-star rated fund is considered the best investment.
Morningstar provides an analysis of the movement of all kinds of holdings, but it excels in the domain of mutual funds. Whether you are planning to choose a mutual fund for investment or trying to find out how it’s doing on the market, Morningstar is your best bet. You can also add stock splits to your portfolio on the Morningstar website. With the help of Morningstar risk rating, you can choose the mutual fund that best aligns with your financial goals.
There are two plans that Morningstar offers; a basic plan and a premium plan. The basic plan is free and can be availed using Morningstar’s website. The premium plan comes at $199 per year. The premium package entails various features such as analyst reports, portfolio x-ray, top investment picks, and several others that will allow you to analyze funds before making a purchase.
Sharesight is another online platform that will help you track the performance of your portfolio. Sharesight offers reliable and timely updates about the performance of your holdings. The platform supports more than 25 stock exchanges, including NASDAQ and TSX. In addition, Sharesight offers an advanced analysis of your portfolio performance along with updates about any dividend payments that you’ve received.
One of the most popular features of share sight is the benchmarking tool. You can use this tool to compare the performance of your portfolio against popular funds or entire markets. The company has over 250,000 investors across the globe who enjoy a variety of financial services. This stock portfolio tracker also allows you to check the status of your portfolio anywhere using the Sharesight investment apps, available on both IOS and android.
One major downside of using this platform is the costliness. The platform is free for portfolios comprising 10 or fewer holdings. However, if you have more than 10 holdings in your portfolio, you’ll have to opt for the paid version. The prices range from $19 to $39 per month.
Next up on the list is TMX Money. TMX money is the official financial portal of TSX (Toronto Stock Exchange). This is one of the most user-intuitive platforms you can use to track your portfolio. Due to its integration with the TSX, it is considered the most authentic platform for finding information and analysis on Canadian stocks. TMX Money also gives real-time stock quotes, enabling you to act quickly if a stock price suddenly drops or unexpectedly rises.
TMX Money allows you to track any of your stock listed on NASDAQ, NYSE, or TSX using their website. They also have a chrome extension that will come in handy if you plan on using this tracker regularly. Using this extension, you can create a customizable portfolio comprising all of your holdings and then analyze it using various visual representations.
TMX Money offers a free platform that has several useful tools for any investor. You can view the best-performing stock, top dividends, top-rated ETFs, and many other holdings using the TMX Money website. All you need to do is sign up for free and add your portfolio, and this efficient portfolio tracker will do the rest.
Wealthica explores a different side of the money management apps industry. This platform asks you to link all of your investment accounts to their website. Wealthica’s servers then automatically import your investment portfolio to track its movement. This concept of asset allocation is relatively new in the Canadian financial market.
Wealthica ensures that your holdings are synced daily, which essentially means that your balances, holdings, and transactions are updated regularly. In addition, you can view the income report to monitor the progress of your portfolio. Finally, their easy-to-use app, available on both IOS and android, will lessen the majority of your hassles.
One of the standout features is that it allows you to keep an up-to-date balance sheet for your whole family. Create a group of family members, and Wealthica will generate a family balance sheet that entails the investments of the whole family. This way, you can track the net worth of the whole family with ease.
The only drawback to using this efficient platform is the security issue. Although Wealthica claims it uses bank-level encryption to protect data, several Canadian investors are unwilling to share their investment account credentials with any company.
Yahoo Finance is one of the oldest players in the stock market. Yahoo Finance is a free resource for market research that provides global coverage. This platform allows you to link your brokers or add lots to your profile. After adding your portfolio, the Yahoo Finance algorithm tracks and monitors your holdings. You get updates and alerts about any substantial rise or fall in the price of your securities, allowing you to make quick decisions about the future of your investments.
Many Canadians have traditionally been using Yahoo Finance for decades, and it has never disappointed. You get an unlimited amount of portfolio watch lists, real-time stock quotes, daily trade ideas, and fair value analysis.
For regular people, these features are enough to manage their financials properly. However, for companies, we suggest getting the Yahoo Finance Plus plan. Yahoo also offers a user-intuitive app, available on both android and IOS, to track your portfolio and get real-time stock quotes in an instant.
One downside to using Yahoo Finance is the number of ads that bombard your screen every time you open their app. Several users have also reported technical glitches on their website and app, although most of those problems have been solved since then.
The standard plan of Yahoo Finance, used by the majority, is free of cost. Apart from this, the company offers a premium plan starting at $34.99/month that offers a much wider set of features. This includes fewer ads, 24/7 customer support, unique company data allowing you to make better financial decisions, and several other features that will enable you to dive deeper into the world of the stock market.
Quick Portfolio Trackers
Not have enough time to see the detailed analysis of your portfolio? Then, we’ve got you covered. After taking a quick view of your financials on these portfolio trackers, you can learn all about your investments.
MarketWatch is a renowned website that provides stock market analysis, growth trends and informs you about the current business trends. The stock prices are regularly updated, and you can compare the stock prices with their past trends. In addition, the share volume is compared with the average of the stock price, giving you substantial information as to where your stock is headed.
MarketWatch allows you to monitor the growth of various holdings such as stocks, ETFs, and even cryptocurrency. The basic account on MarketWatch is free, and it can be accessed using MarketWatch’s website.
A glaring testament to this website’s credibility is that it is the 11th most visited business website in the world. In addition, the news page keeps you updated about the international financial market, allowing you to make calculated investments in foreign stocks.
Apart from this, they have a very elaborate investing section with information on nearly every kind of investment, which is a great place to start if you are new to the stock market.
Another new player in the market is MSN Money. Despite not being the most popular choice for portfolio trackers, MSN has made its mark in the stock industry using its extensive and authentic EOD data.
What makes this website interesting is its Fundamentals feature. This section has all of the information needed by any investor. From revenue growth to volume share, everything is well-organized on the website, allowing busy investors to track their investments whenever they are free.
Why Use Portfolio Tracking?
Portfolio tracking will come in handy in several ways. For starters, you won’t have to take out your calculator every time a stock price changes. You can add all of your holdings to your portfolio, and the tracker will ‘track’ the progress of your investments. You can use the stock portfolio tracker to see how your investments line up with your financial goals. Using a portfolio tracker lets you know when your holdings are underperforming or whether you need to invest in different stocks.
One of the most important benefits of having a stock portfolio tracker is that all of the holdings are organized at one central location; this quick and easy access to your investment saves you from a lot of time-consuming hassle. In addition, several portfolio trackers also offer valuable insights into the stock market by generating financial reports that enlist annual gains, holding options, year-to-date gain, and other factors. This will enable you to make a calculated decision about the future of your holdings.
Managing your investment accounts is an arduous task, but it doesn’t necessarily have to be this way. Instead of getting lost in many stocks, ETFs, and other holdings, it is much better to let the software do your bidding. Portfolio trackers empower investors and financial planners by providing them with the required knowledge to make the correct decision about their finances.
Which is better – Free or Paid?
Generally speaking, if you are planning to track only 1 or 2 investment portfolios with limited holdings, there are plenty of free platforms you can choose from. These platforms provide sufficient information for you to make the correct decision about your stocks, and you can easily manage your finances using the most secure software.
When it comes to large companies and enterprises, free portfolio trackers won’t suffice. Several features are only available in the paid versions of these stock portfolio trackers that are a must-have for large companies. Plus, several paid versions offer many benefits such as 24/7 customer support, daily income reports, among others that will keep you informed about the progress of your company’s investments in real-time.
Investment Tracking Software Canada
I haven’t used it for a long time, but it’s a tool for eternity. It allows you to track all your investments in one place, track price changes and include stars and other Morningstar data to give you insight into Morningstar’s research.
Better to avoid it if you’ve already signed up for its Robo-investing platform. No connection is established to your account when you enter your information, which is advantageous if you are worried about security risks.
Other apps can help you replenish your holdings and pump more money into your portfolio. Investing in stocks is one of the best ways to secure and increase wealth, and selecting a stock tracking app is an important step in investing. Here are the best investing apps in Canada for helping you invest money for your future.
Some people have an app that fulfils all their investment tracking requirements, while others use multiple investment apps. So whether you’re using Android or iPhone or prefer to use a desktop stock tracking app, there’s something for you.
For example, the Investment Account Manager allows you to combine portfolios and review the entire asset allocation (stocks, bonds, cash and others) at a more granular level of equity and sector size. You can also monitor investments costs, corporate actions and performance of your investment portfolio in your preferred currency and see your gains and losses based on this currency. When you choose a stock trading app, you can focus on growing your investment portfolios.
You will receive a weekly email with a summary of the performance of your investments and regular reports with a breakdown of the latest portfolio news. In addition, you can compare your portfolio performance against key portfolio health benchmarks and consider suggestions for areas to improve performance. Finally, even if you don’t manage your portfolio, you can view all your different investments in a single app.
The best portfolio analyst is the one that will meet your budgeting, portfolio management, tracking and investment needs. We will start with free portfolio trackers and asset management software, as investment and equity portfolio trackers come with an ongoing charge. In addition, many of these tools contain asset allocation software to keep your investments in line with your goals and your risk tolerance.
Before starting with the best portfolio tracker in Canada, let’s discuss some of the key features of a good portfolio tracker. A great portfolio tracker offers a great research tool that draws on an extensive pool of investment ideas. We have already covered investment tracking software capable of handling share trackers, ETFs and investment fund trackers.
The best trackers allow you to track all types of investments: shares, bonds, ETFs etc. Some trackers post in real-time, but it is the share prices that you cannot trade until you get a price that is more than 15 minutes old.
If you are an investor, it is obvious that you need a good equity portfolio manager. You want to review your investment returns, fees, asset allocations, retirement plans and more. Investors, for many reasons, need good portfolio trackers to monitor their mutual funds and exchange-traded funds and individual stocks and bonds.
Portfolio Tracker does exactly what it says on the label: it tracks your portfolio. I have never used portfolio tracking to track my portfolios, such as tracking cash inflows and outflows. Instead, I used it to see how a particular holding developed on a daily and general level.
Since many of my individual stock holdings have approached the 10-year mark since I acquired them during the Great Recession, green boards were not useful. Instead, I wanted to enter the share price paid when I bought the stock without commission.
To analyze financial data in Excel, you can use the integration of Microsoft Excel inventory data. First, however, you must export the actual online value of Google Sheets to Excel.
Like the Mogo app, which provides free monthly Equifax credit scores, anyone interested in Bitcoin will find its platform easy to use. Wealthica is the Canadian version of Personal Capital, the popular asset management app from the United States. It syncs with more than 140 Canadian financial institutions so you can record all your investments, bank accounts and other financial assets in one place.
The Wealthsimple app is one of the best-rated investment apps on the Google Play Store and App Store. It offers the average investor a platform to invest their money in bespoke portfolios of low-cost ETFs. In addition, investors who prefer to build their own investment portfolios from scratch can take advantage of the Wealthsimple Trading app’s fee-free stock trading and portfolio potential.
You can buy and sell thousands of US and Canadian stocks and ETFs without paying a commission. ShareSight is an award-winning performance and tax reporting platform that enables you to track stocks, ETFs and over 40 exchanges. It also offers the ability to track 67 global currencies and track unlisted alternative assets such as fixed-income assets.
This easy-to-use online portfolio tracker prides itself on being a spreadsheet replacement that gives you the ability to track your true performance across listed stocks, as well as track multiple asset classes in one place. Super slim and easy to use (iOS and Android compatible), this exceptional investment app creates colourful charts, deposits and insights to track your goals and progress.
All in all, Wealthsimple Invest is our first choice for the best investment app in Canada. The Questrade app is an excellent tool that allows DIY investors to manage investments in no time at all. After downloading the app and logging in, you can make trades at a low cost of $4.95 per share with a maximum of $9.95 per share in real-time.