More than one-third (34%) of Canadians have either adopted online investing as a way to make and manage their investments or are considering doing so, according to a survey released Thursday by BMO InvestorLine.

The study also indicates that many Canadians are looking for reputable information and insight for their online investing experience, with nearly half (45%) of all respondents stating that they are seeking more investment knowledge. One-third (33%) express concern about investing without what they consider to be adequate advice.

“Investors who are considering online investing should be searching for an online brokerage that has a robust educational platform, a wealth of useful resources and objective third party insights,” says Connie Stefankiewicz, president and CEO, BMO InvestorLine. “Beginners and experienced investors alike require an online trading platform that is easy to use and provides access to innovative, leading-edge tools- giving them everything they need to make the most appropriate investment decisions.”

Canadians who do invest online enjoy the flexibility it provides, the study suggests, with 63% appreciating the ability to invest on their own schedule.

Online investors stated that they enjoy having the control and confidence (62%) in making decisions regarding their investments.

In addition, the study finds more than half (55%) of online investors invest mostly in individual securities, while a smaller percentage (51%) invest in mutual funds.

When it comes to seeking investment direction, six out of 10 online investors state that the media is their number one source for information, followed by half who use general web searches.

The survey was completed with 1551 Canadian adults and was conducted using Leger Marketing’s Web panel between May 31 and June 2.

IE