In order for online brokerages in Canada to offer their services to Canadian residents, they have to be licensed and registered with the Investment Industry Regulatory Organisation of Canada (IIROC). This authority sets and enforces rules for the financial conduct of investment firms. This makes any regulated brokerage inherently safe. Some online brokers that are registered with IIROC include :
Desjardins Securities - Desjardins Online Brokerage (Disnat)
Canadian ShareOwner Inc. - WealthSimple Trade
CIBC Investor Services Inc. - CIBC Investor’s Edge
TD Waterhouse Canada Inc. - TD Direct Investing
Canadian online brokerages can also choose to be members of the Canadian Investor Protection Fund (CIPF). This is a not-for-profit insurance program that protects your money should your brokerage firm go bankrupt. It gives an extra added blanket of security.