Meanwhile in the U.S., the day-trading boom has seen novice investors flock to mobile trading apps like Robinhood. According to Toronto research firm Investor Economics, during the first quarter of 2020, roughly half a million Canadians opened discount online brokerage accounts to access trading platforms offered by firms like Qtrade, Questrade, Wealthsimple and Interactive Brokers, as well as the big banks. “With all the research I did following the markets every day, I felt I could make some good money,” he says.Īs COVID-19 hit and caused markets to turn wildly volatile, Randelovic would soon be joined by thousands of other Canadians in a pandemic day-trading boom.
In those early first weeks, Randelovic, 33, even quit his job managing a heavy equipment dealer with an eye to bankrolling his own business from the proceeds of his trades. For several months prior, the resident of Kelowna, B.C., had read trading books, scrutinized how-to websites and browsed YouTube channels where some day-trading influencers claimed easy riches could be made through rapid-fire speculation on investments. In February 2020, just before the pandemic swept the globe, Milos Randelovic delved into the hectic world of day trading.
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