Virtual Brokers
- Company typePrivate
- Founded2009
- HeadquartersToronto, Canada
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Virtual Brokers does
Virtual Brokers is a Canadian self-directed online brokerage platform operating as a mobile trading brand under CI Direct Trading, which is a registered business name of CI Investment Services Inc., a wholly-owned subsidiary of publicly-traded wealth manager CI Financial Corp. Headquartered in Toronto, the platform serves individual investors across Canada who prefer to make their own investment decisions without financial advisors, offering trade execution through a mobile application on iOS and Android and a web platform supporting multiple account types. The business generates revenue primarily through trading transaction fees under a tiered pricing structure that includes both low-fee and no-fee options, positioning the platform competitively within the Canadian discount brokerage segment.
The core technology stack consists of the Virtual Brokers mobile trading app and the CI Direct Trading web platform, both providing account access, real-time market information, and order routing. The platform is registered as an investment dealer under Canadian securities legislation in all provinces and territories and holds memberships with the Canadian Investment Regulatory Organization (CIRO) and the Canadian Investor Protection Fund (CIPF), providing regulatory credibility and client asset protection. The broader CI Financial ecosystem includes the sister brand CI Direct Investing (operated by WealthBar Financial Services Inc.), which offers managed portfolios and personalized financial planning, creating cross-sell opportunities between self-directed and advised investor segments. The go-to-market motion is direct-to-consumer and digital-first, with distribution through the company website and app stores alongside organic social and content marketing on LinkedIn, Facebook, and a financial blog.
Virtual Brokers firmographics
Firmographics- Name
- Virtual Brokers
- Legal name
- CI Investment Services Inc.
- Website
- https://virtualbrokers.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Virtual Brokers industry classification
Industry- Product category
- Discount Brokerage
- NAICS
- Securities and Commodity Contracts Intermediation and Brokerage (5231)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Discount & Online Retail Brokerage (FSAEACAB)
Keywords
Where Virtual Brokers is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Markets served
Virtual Brokers business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Trading Transaction Fees: The platform generates revenue primarily through trading transaction fees. The service offers both low-fee and no trading fee options, suggesting a tiered fee structure where certain account types or trading activities may incur commissions while others are fee-free.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard trading with potential low or zero fees |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Virtual Brokers product offering
Product offeringCore offering
Virtual Brokers is the consumer-facing mobile brand of CI Direct Trading, an order-execution only discount brokerage operated by CI Investment Services Inc. (a wholly owned subsidiary of CI Financial Corp). The platform provides self-directed Canadian investors with web-based and mobile trading capabilities (iOS/Android), multiple account types, and low/no trading fee options for independent trade execution without financial advisory services.
Product overview
CI Direct Trading (operating under the Virtual Brokers brand for its mobile app) is an order-execution only discount brokerage platform providing self-directed trading services. The platform offers a unified experience comprising the Virtual Brokers mobile trading app (iOS/Android), the CI Direct Trading web platform with multiple account types and low/no-fee trading options, and the complementary CI Direct Investing service for managed portfolios and financial advice. Virtual Brokers serves as the consumer-facing mobile brand, while CI Direct Trading represents the core brokerage infrastructure.
Differentiator
Problem solved
Functional benefit
Brands
- Virtual Brokers: Self-directed trading mobile application and platform offered through CI Direct Trading, providing online brokerage services for investors.
Products and services
- Virtual Brokers Mobile App
Companies that use Virtual Brokers
Customer profileSegments1 record
Ideal customer profiles1 record
Virtual Brokers technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Virtual Brokers partnerships and signals
Strategic signalExpansion highlights3 records
Virtual Brokers competitors and assessment
Company assessmentDirect peers
- Questrade: Questrade is one of Canada's largest independent discount brokerages, offering self-directed trading platforms, multiple account types, and low-cost execution for retail investors — directly competing with CI Direct Trading/Virtual Brokers for the same Canadian self-directed segment.
- Qtrade Direct Investing: Qtrade is a Canadian self-directed online brokerage offering low-cost trading and multiple account types. It competes directly with CI Direct Trading for the same retail self-directed investor base in Canada.
- Wealthsimple: Wealthsimple is a Canadian digital wealth platform offering commission-free self-directed trading (Wealthsimple Trade) alongside managed investing and advisory services. It competes head-to-head with Virtual Brokers on price, mobile UX, and the self-directed vs. managed investing crossover.
- Interactive Brokers (Canada): Interactive Brokers provides Canadian retail investors with a globally connected self-directed trading platform offering low-cost execution across multiple asset classes. It directly overlaps with Virtual Brokers on the price-sensitive active trader segment.
Broad incumbents
- TD Direct Investing: TD Direct Investing is the self-directed brokerage arm of TD Bank, one of Canada's largest banks. It competes with Virtual Brokers on retail self-directed trading but offers a much broader suite of banking, wealth, and advisory services alongside.
- Scotia iTRADE: Scotia iTRADE is the online brokerage arm of Scotiabank, offering self-directed trading to Canadian retail investors. It competes with Virtual Brokers on price, platforms, and account types, while benefiting from Scotiabank's broader distribution.
- RBC Direct Investing: RBC Direct Investing is the self-directed online brokerage of Royal Bank of Canada, offering trade execution and account services to retail investors. It competes with Virtual Brokers but is part of a much larger integrated banking and wealth platform.
- BMO InvestorLine: BMO InvestorLine is the self-directed brokerage division of BMO, providing online trading and account services to Canadian retail investors. It competes with Virtual Brokers for self-directed clients while leveraging BMO's broader banking franchise.
- CIBC Investor's Edge: CIBC Investor's Edge is the self-directed brokerage of CIBC, providing online trade execution and account management to Canadian retail investors. It competes with Virtual Brokers within the same Canadian retail trading category.
Regional players
- Desjardins Online Brokerage (Disnat): Disnat is Desjardins Group's online brokerage, offering self-directed trading primarily to Quebec and Canadian retail investors. It competes with Virtual Brokers on self-directed execution, particularly within the Quebec market where Desjardins has strong brand presence.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Virtual Brokers social profiles
Digital presenceVirtual Brokers compliance and trust
Trust signalCompliance2 records
Virtual Brokers financial estimates
Financial estimateRevenue estimate
Valuation estimate
Virtual Brokers leadership team
Management profileNumber of profiles
Virtual Brokers funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Virtual Brokers M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Virtual Brokers
What does Virtual Brokers do?
Virtual Brokers is the consumer-facing mobile brand of CI Direct Trading, an order-execution only discount brokerage operated by CI Investment Services Inc. (a wholly owned subsidiary of CI Financial Corp). The platform provides self-directed Canadian investors with web-based and mobile trading capabilities (iOS/Android), multiple account types, and low/no trading fee options for independent trade execution without financial advisory services.
Is Virtual Brokers a public or private company?
Virtual Brokers is a private company. It is classified as corporate owned and is currently operating.
When was Virtual Brokers founded?
Virtual Brokers was founded in 2009. It employs 11 to 50 people.
Where is Virtual Brokers based?
Virtual Brokers is headquartered in Toronto, Canada, in the North America region.
How does Virtual Brokers make money?
One revenue line is on record: trading Transaction Fees.
Who are Virtual Brokers's main competitors?
Direct peers on record are Questrade, Qtrade Direct Investing, Wealthsimple and Interactive Brokers (Canada). Broad incumbents are TD Direct Investing, Scotia iTRADE, RBC Direct Investing, BMO InvestorLine and CIBC Investor's Edge. Desjardins Online Brokerage (Disnat) is listed as a regional player.
Does Virtual Brokers have an API?
No public API is recorded for Virtual Brokers.
What industry is Virtual Brokers in?
Virtual Brokers's product category is Discount Brokerage. Its primary akta.pro industry code is FSAEACAB, Discount & Online Retail Brokerage. Its NAICS code is 5231 and its SIC code is 6200.