Financial technology companies are making financial planning, investing, and budgeting easier than ever.
It’s a sign of the times, and millennials and Gen Z’ers appear to be eager adopters of the new trend where almost all of your money management can be done using your iPhone or Android device.
The best money management apps and investment apps on this list can help you:
- Earn cash back easily and budget
- Track your net worth
- Invest automatically at low fees
- Maximize your savings account returns
- Check your free credit scores
- Rebalance your investment portfolio
The Best Money Management Apps of 2025
- Best Cash back App: KOHO
- Best Trading App: Questrade
- Best Saving App: EQ Bank
- Best Cryptocurrency App: CoinSmart (Bitbuy)
- Best Investment App: Wealthsimple Invest
- Best App for Investing Spare Change: Moka
- Best Free Trading App: Wealthsimple Trade
- Best Credit Score App: Borrowell
- Best Portfolio Rebalancing Tool: Passiv
- Best App for Free Chequing Account: Simplii Financial
- Best Net Worth Tracker App: Wealthica
1. KOHO
KOHO is a free reloadable prepaid Mastercard and app that offers a high cash back rate on purchases and budgeting capabilities.
Here are some reasons I use the KOHO app:
- Up to 5% cash back on purchases
- No fees*
- Earn high interest rates on your entire balance when you set up a direct deposit
- Automatic savings plan, including rounding up your spare change
- Funds are CDIC-insured for up to $100,000 (via Peoples Trust Company)
- Covered under Mastercard’s Zero Liability policy
- Price match, Apple Pay, and KOHO insights which categorize spending in real-time
- Available on: iOS and Android
- Location: Canada
Read the complete KOHO review.
KOHO Prepaid Mastercard
Rewards: Earn 1% cash back on groceries and transportation, up to 5% unlimited cash back at partner stores in Canada. Get up to 4% interest on your entire balance. Users also get access to a free budgeting app, 0% APR cash advances and free credit score checks.
Welcome offer: $40 sign up bonus after first purchase (use GETCASH promo code during sign-up)
Interest rate fee: N/A
Annual fee: $0*
2. Questrade
If you are looking for the best trading app for Canadians to buy and sell stocks, ETFs, bonds, mutual funds, options, and other investment securities, the Questrade mobile app is the way to go.
Questrade offers some of the lowest trading commissions in Canada and commission-free stocks and ETFs. The app also has market data, watch lists, and charting capabilities for the savvy self-directed investor.
- Available on: iOS, Android, and Web
- Location: Canada and the U.S.
- Link: Questrade
Other features: Questrade has a robo-advisor service, Questwealth Portfolios, which offers automated investing and customized portfolios at a low fee.
Questrade
Trade stocks, ETFs, options, FX, bonds, CFDs, mutual funds, etc.
Get a $50 bonus with $250 funding (use referral code: SAVVY50)
Commission-free trading for stocks/ETFs
No quarterly inactivity fees
Access to advanced tools and trading data
Top platform for advanced traders
Transfer fees waived
3. EQ Bank
Our favourite savings app is from EQ Bank.
Canadians looking for high-interest savings rates that stay “high” consistently and are non-promotional will find the EQ Bank app to their taste.
This is a free money management app. No minimum balance. Unlimited free transactions. High-interest rates. Free mobile cheque deposits.
- Available on: iOS and Android.
- Location: Canada
- Price: Free
- Link: EQ Bank
Additional features: Free and unlimited Interac e-Transfers. Access to a prepaid card that pays 0.50% cash back. EQ Bank is a subsidiary of Equitable Bank which means your deposits are insured up to $100,000 per category.
EQ Bank Personal Account
Earn up to 4.00% interest (non-promo)
No monthly account fees or minimum balance
Free unlimited debit transactions and e-Transfers
Free cashback Mastercard & no ATM fees in Canada
Access to investing, mortgages, FX transfers, USD accounts, GICs
Supports mobile cheque deposits
4. Bitbuy
If you want to trade cryptocurrency in Canada, the Bitbuy Crypto app is among the best.
Its interface is easy to understand, and you can use it to buy and sell Bitcoin, Ethereum, and many other crypto coins.
- Available on: iOS, Android, and Web
- Location: Canada
- Trading fees: Varies
You can also learn about other cryptocurrency apps in Canada and Bitcoin.
Bitbuy Crypto Exchange
Get a $50 bonus if your initial deposit exceeds $250
Trade over 50 popular coins
Great for new & advanced traders
0% to 2% trading fee
5. Wealthsimple Invest
The Wealthsimple app is among the highest-rated investment apps on the App Store and Google Play Store.
Wealthsimple is Canada’s most popular robo-advisor. It offers everyday investors a platform to invest their funds in customized portfolios consisting of low-fee ETFs.
- Available on: Web, iOS, and Android.
- Location: Canada, the U.S., and the U.K.
- Link: Wealthsimple.com
Additional features: Wealthsimple Invest users get free financial advice, low-cost management fees, spare-change investing functionality, automatic portfolio rebalancing, automatic dividend re-investing, access to high-interest savings, investment asset protection up to $1 million, and more.
Wealthsimple Invest
Professionally managed ETF portfolios
Multiple account types
Auto rebalancing and div reinvesting
6. Moka (formerly Mylo)
Living from paycheque to paycheque and thinking you don’t have money to invest? Think again. The Moka app rounds up your purchases and saves or invests your spare change.
This is how it works:
- Sign up for Moka.
- Connect your bank accounts and credit and debit cards, and make your purchases as usual.
- Moka rounds up your spending to the nearest $1, $5, or $10 based on your preferences.
- It invests the difference using low-cost ETFs in a non-registered investment account, TFSA or RRSP.
- Fee: Moka costs $15 per month
- Available on: iOS and Android
- Location: Canada
Additional features: Moka offers cash back, socially responsible investing, and easy withdrawals. Learn more in this Moka explainer. U.S. residents can use spare-change investing apps like Acorns and Digit.
7. Wealthsimple Trade
Investors who prefer to organize their investment portfolios from scratch would enjoy the no-fee stock trading portfolio potentials that the Wealthsimple Trade app offers.
You can buy and sell thousands of U.S. and Canadian stocks and ETFs without paying commissions.
If you already have a Wealthsimple Invest account, you can use your existing credentials to sign into Wealthsimple Trade.
- Available on: iOS and Android devices
- Location: Canada
- Price: Free
- Link: Wealthsimple Trade
Other features of the app: Easily invest in TFSA and non-registered accounts; CIPF protection up to $1 million; stock-tracking capabilities; fractional shares trading, and stock trading with as little as $1.
U.S. residents can check out one of the best trading apps ever – Robinhood.
Wealthsimple Trade
Trade stocks and ETFs commission-free
Get a $25 cash bonus with $150+ deposit
Excellent trading platform for beginners
Access to various products and accounts, incl. HISA, private equity, bond funds, options
No inactivity fees
Transfer fees waived up to $150
Free Money Management and Personal Finance Apps
Here are some other free smartphone money management apps you should consider installing to improve your finances.
8. Simplii Financial
Simplii Financial offers one of the best no-fee chequing accounts in Canada.
The Simplii app is user-friendly, and you can use it for all your basic banking needs – no-fee chequing, savings, investments, credit cards, mortgages, and more.
- Available on: iOS and Android
- Location: Canada
- Price: Free
Other features: Simplii offers free access to thousands of CIBC ATMs in Canada and pays interest on your chequing account balance. Your funds are protected via Canada Deposit Insurance Corporation (CDIC) by up to $100,000.
Simplii No-Fee Chequing Account
$300 cash welcome offer
No monthly account or maintenance fees
Unlimited debit transactions & Interac e-Transfers
Access to high interest savings account (CAD&USD)
Access to free FX transfers, investments, GICs, mortgages, line of credit, credit cards, and more
Free personalized cheques
9. Borrowell
Borrowell is a free credit score app for Canadians. Gone are when you had to pay $20 a pop to access your credit scores.
The Borrowell app provides over 2 million Canadians with access to your free Equifax credit score, and it is updated every month. In addition, you also get your free credit report.
I use the app to monitor my credit file for errors or fraudulent activity.
- Available on: IOS, Android, and Web
- Location: Canada
- Price: Free
Additional features: The money management app also sends tailored recommendations for credit cards, investing, mortgage rates, insurance, etc.
Read my Borrowell comparison for more details. Residents of the U.S. can get their free credit score from Credit Karma and Credit Sesame.
10. Passiv
Passiv is a free (or paid) portfolio rebalancing tool. It eliminates the hassle of manually rebalancing your investment portfolio by automating the process.
Passiv maintains your target allocation, sends notifications for cash and dividend deposits, and enables one-click trades.
A basic Passiv account is free, while the Elite version has a $99 fee. If you are a Questrade client, you get Elite membership for free!
- Available as: Web app
- Price: Elite membership free for Questrade clients
- Link: Passiv
Other features: You can use Passiv to seamlessly connect multiple brokerage accounts.
Read my detailed Passiv review.
11. Wealthica
Wealthica is the Canadian version of Personal Capital, the popular wealth management app in the United States.
The app syncs with more than 140 Canadian financial institutions, so you can track all your investments, bank accounts, and other financial assets in one place.
If you find it challenging to stay on top of your investment accounts, Wealthica will make your life easier.
- Available on: iOS and Android
- Location: Canada
- Price: Free (premium version available)
- Link: Sign up for Wealthica
12. Credit Karma
Credit Karma is another app for free credit scores. It’s available in Canada and the United States.
They provide you with a TransUnion credit score and report that is updated weekly.
- Available on: iOS, Android, and Web
- Location: Canada and the U.S.
- Price: Free
Read my complete Credit Karma review.
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Hi, I like your articles regarding retirement and savings, but I don’t see information that would be helpful to most like me who don’t have high incomes or a million in savings. I would like your opinion on retirement income strategy if you have RRSP/LIRA, RPP/LIF, TFSA, non-regd funds, CPP and OAS. My main query is how to manage my income flow to minimize tax and to ensure there is sufficient funds till death. I plan to start drawing income in a few months, and to defer my CPP maybe 2 to 3 years. The bulk of my regd funds are in RRSP/LIRA. Thanks very much.
@Margaret: Below are some of the articles we have written to cover these topic areas:
LIRA: https://www.savvynewcanadians.com/generate-retirement-income-from-lira/
RRSP income: https://www.savvynewcanadians.com/how-to-generate-regular-income-from-your-rrsp-in-retirement/
CPP clawback: https://www.savvynewcanadians.com/strategies-minimize-old-age-security-clawback/
Defer CPP: https://www.savvynewcanadians.com/take-cpp-at-age-70/
TAke CPP early: https://www.savvynewcanadians.com/take-cpp-early-at-age-60/
Hope these help.