TipRanks and Questrade partner to help Canadians make informed investment decisions

By Pavithra R

TipRanks, the developer of the world’s first Financial Accountability Engine, has announced entering into a partnership with Questrade, Canada’s fastest-growing online brokerage, in an effort to arm Questrade’s customers with the tools needed to evaluate individual stocks and make informed investment decisions.

Presently, TipRanks’ data-driven tool has been integrated into the Questrade web and IQ Edge platforms, at no additional cost to users. TipRanks’ data will cover both US and Canadian companies, drastically extending the research offering available to all Questrade customers.

According to a study by the Ontario Securities Commission, nearly half of Canadian investors had not bought or sold any investments during the course of the pandemic. Nearly 70% of Canadians admit difficulties in knowing what to do when it comes to their investments in the current environment. This places Canadian investors and traders in need of data, to help them make better informed investment decisions with confidence in the post-pandemic world.

The TipRanks Financial Accountability Engine offers investors and traders all the information required to determine who to trust, and make educated investment decisions. The firm uses machine learning (ML) and natural language processing (NLP) algorithms to see the track record and measured performance of any stock analyst, blogger, hedge fund, or corporate insider.

“We are delighted to partner with Questrade in their mission to empower investors. Our ability to simplify institutional-level research tools is game-changing. We level the playing field by giving retail investors access to visualized and intuitive research tools which help them make better, data-driven decisions,” said Uri Gruenbaum, CEO, TipRanks.

Through this new partnership, Questrade customers will have access to TipRanks’ interactive stock research capabilities, including the Smart Score tool, which scores stocks on a scale of one to ten based on eight unique market factors. Additional tools include analysts’ consensus; ratings and price targets; and sentiments for stocks in the U.S and Canada. Questrade also plans to implement a more comprehensive suite of TipRanks’ tools onto its platforms in the coming months.

“We’re on a mission to empower and educate Canadians on their journey to financial independence by investing in informative and interactive tools like TipRanks. Through this partnership, we are offering powerful research capabilities to investors, and will also be the first brokerage in Canada to offer TipRanks’ Smart Score – an award-winning rating system that helps identify high potential stocks – directly to our customers. Helping them invest confidently and succeed is our ultimate goal,” said Edward Kholodenko, President and CEO, Questrade.

Questrade joins other major global financial institutions that have integrated TipRanks products. These include TD Bank, NASDAQ, TD Ameritrade, Saxo Bank, Interactive Brokers, Santander, E-Trade, eToro and others.