The most active Canadian stocks and ETFs are the securities listed in Canada that changed hands most often in the latest session. This page shows that ranking, explains how Toronto-based trading is organized, and lays out the tax and reporting points that matter if you invest from Naperville, from Canada, or across the border in either direction.
What this list shows
The screener below ranks securities listed on Canadian exchanges by shares traded in the latest session. Canadian market data in this widget is often delayed rather than end-of-day, so do not use it to time anything. The ranking can include stocks, ETFs and other listed products, and the screener does not separate them. A fund usually shows a sponsor name or the word "ETF" in its title. The list is a mechanical filter and not a recommendation.
Market list widget by TradingView. U.S. data is usually end-of-day; Canadian and Indian data may be delayed. Lists include stocks and ETFs and are mechanical filters, not recommendations.
How to read it
Volume in Canada is most meaningful when you compare a security with itself. A name that trades far more than it did last month is telling you that something changed. A name that always leads the table is simply liquid.
Some funds list in more than one currency. TMX's new-listing notices show products with a Canadian-dollar symbol and a separate U.S.-dollar series, so two rows can describe the same fund. Many Canadian companies also trade in the United States, which splits their volume across two markets; this list captures only the Canadian side.
Price, change % and volume are the basic columns. Market capitalization is a company measure, and a fund's size may be shown differently or not at all. The technical rating is a third-party summary of chart signals.
What it does not tell you
Share counts reward low prices. A low-priced security needs only a small amount of money to post the same share count as an expensive one. The list also says nothing about direction, news, or whether the volume came from retail traders, funds or index changes.
The Canadian market in brief
Exchanges. Toronto Stock Exchange (TSX), TSX Venture Exchange (TSXV) and TSX Alpha Exchange are the TMX Group's equity markets. Cboe Canada and the Canadian Securities Exchange (CSE) are other Canadian exchanges, and Cboe Canada describes more than 400 company, ETF and Canadian Depositary Receipt (CDR) listings.
Hours. TMX shows a 7:00 a.m. to 9:30 a.m. Eastern pre-open, when orders can be entered but not executed. Continuous trading on the TSX and TSXV runs from 9:30 a.m. to 4:00 p.m., followed by an extended session from 4:15 p.m. to 5:00 p.m., in which trades happen only at the last sale price. TSX Alpha runs continuous trading from 8:00 a.m. to 5:00 p.m.
Settlement. The Canadian Securities Administrators (CSA) said the T+1 rule amendments came into force on May 27, 2024, one day before the United States moved.
Regulation. The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees investment dealers, mutual fund dealers and trading on Canada's marketplaces. Provincial regulators, coordinated through the CSA, oversee public companies and securities law.
Tax notes for investors
This is general information and not personal advice.
- If you are a Canadian resident, your gains are taxed under CRA rules, covered on our Canadian new highs page. Holding U.S. stock may require a T1135 foreign property report: CRA says it applies when specified foreign property costs more than $100,000 at any time in the year, and shares of non-resident corporations are among the covered property. Questions about Canadian returns belong with a Canadian professional; this firm prepares U.S. returns.
- If you are a U.S. person with Canadian holdings, you report worldwide income here. A Canadian brokerage account may need an FBAR and Form 8938. Funds organized in Canada are often passive foreign investment companies for U.S. purposes, so read about PFIC rules, which the IRS explains in the Form 8621 instructions.
- Converting currency. Canadian prices are in Canadian dollars, and each country has its own rule for choosing the exchange rate. Our forex rates page explains both.
- Investment income tax. The capital gains guide and the net investment income tax explain the U.S. side for Chicagoland households.
For a different market with the same structure, see the most active U.S. securities page.
Frequently asked questions
Is the Canadian list in Canadian dollars?
Prices on Canadian exchanges are generally quoted in Canadian dollars. Some funds offer U.S.-dollar series, so check the symbol and description before comparing prices.
Why do I see the same company on the U.S. and Canadian lists?
Many companies are listed in both countries. Each list covers only the market named on the page.
Can I trade Canadian stocks outside regular hours?
TMX lists a pre-open from 7:00 a.m. in which orders are accepted but not executed, and an extended session from 4:15 p.m. to 5:00 p.m. at the last sale price. TSX Alpha runs from 8:00 a.m. to 5:00 p.m. Your broker decides what it offers.
What is a Canadian Depositary Receipt?
A CDR is a Canadian-listed product that gives exposure to a foreign company's shares. CIRO's guidance treats CDRs whose assets are solely foreign securities as covered by its single-stock circuit breakers. Check the product description for details.
Official sources
- TMX: TSX and TSXV trading hours
- CSA: Move to T+1 settlement, May 27, 2024
- CIRO: About CIRO
- Cboe Canada: Listings in Canada
- CRA: Foreign income verification statement (Form T1135)
This page is a plain-language summary. The official source controls if there is any difference.
General information only, not tax, legal or accounting advice for your situation. Rules, limits and deadlines change; confirm the current rules with the official source or a qualified professional before you act. Reading this page does not create a professional relationship with CPA Tax Payroll and Accounting Corp.