Robinhood’s arrival also adds another competitor to a Canadian self-directed investing market that includes homegrown companies such as Questrade and Wealthsimple.BRENDAN MCDERMID/Reuters
Robinhood Markets Inc. HOOD-Q has grown its Canadian work force to more than 200 employees and moved into a new Toronto office with room for roughly twice that number, as the U.S. trading giant ramps up its expansion into Canada just months after officially launching in the country.
The Toronto office, which opened in August, is now Robinhood’s third-largest globally by head count and one of its fastest-growing, according to Chris Pollock, general manager of Robinhood Canada. The space has capacity for about 400 employees, and the office currently has more than 20 job openings listed as of mid-September. The company declined to provide a hiring target.
“It’s not just Robinhood launching in Canada. It’s also Robinhood investing in Canada,” said Johann Kerbrat, Robinhood’s senior vice-president and general manager of crypto. Robinhood first established its Canadian headquarters in Toronto in 2024.
The company is preparing to expand its Canadian offering beyond cryptocurrency. Mr. Kerbat did not say which product will come next but said Robinhood’s next phase will focus on more trading and investment products.
Robinhood entering Canada after closing WonderFi deal
The hiring push offers an early look at Robinhood’s ambitions in Canada after its roughly $250-million acquisition of Canadian crypto company WonderFi Technologies Inc. WNDR-T closed in June. The deal gave Robinhood an immediate regulatory foothold in the Canadian market and access to more than 300,000 funded WonderFi customers at the time it was announced.
Robinhood’s arrival also adds another competitor to a Canadian self-directed investing market that includes homegrown companies such as Questrade and Wealthsimple.
“There is a lot of room for competition here,” Mr. Kerbat said. He said that he has seen Canadian companies “trying to imitate” Robinhood’s features and user experience.
“We have a product innovation that is quite different from a lot of these companies,” he said, referencing products available in the U.S. such as 3-per-cent cash-back credit cards. “I think they will follow what we are trying to do.”
For now, Robinhood’s Canadian offering remains considerably narrower than its U.S. platform, where customers can trade stocks, options, cryptocurrencies and prediction-market contracts, among other traditional banking products. Canadian customers currently have access to cryptocurrency trading across 50 assets.
Robinhood’s trading fees will range between 0.5 per cent and 1.85 per cent on Canadian-dollar crypto trades. In comparison, Wealthsimple’s fee is 2 per cent for its clients with less than $100,000 in assets investing less than $1,000.
“We are unique because we are one of the largest retail platforms in the U.S. and in other places, and so the type of pricing we’ll be able to offer and the type of features we’ll be able to offer should give us a large advantage,” Mr. Kerbat said.
The company is currently offering zero-fee crypto trading until the end of September, a promotion it is using to migrate previous WonderFi customers, and new customers, to the Robinhood app.
The company is inviting the 300,000 WonderFi customers in phases to the new platform. As of mid-September, approximately 160,000 WonderFi customers had been invited and roughly 25,000 had completed the process, according to Mr. Pollock.
The Robinhood acquisition was originally expected to close in the second half of 2025. But, WonderFi said late last year that it would be pushed into the first half of 2026 while the company sought regulatory approvals.
The deal was delayed amid a difficult period for the company. WonderFi has reported large losses in recent years, while one of its largest shareholders, Vancouver-based Orion Digital Corp., sold half of its shares at a loss in August, 2025, before exiting its position entirely earlier this year.