Leading Brands in Canada’s Investing & Financial Management Sector: Q3 2023 Analysis

Introduction

In Q3 2023, Canada's Investing & Financial Management sector experienced significant digital engagement across web and mobile platforms. This article examines the performance of three leading brands—Questrade, Inc., Coinbase, Inc., and Binance (BAM Trading Services Inc.). Utilizing Sensor Tower’s comprehensive data, we explore audience trends, app engagement, and advertising strategies that propelled their success.

Questrade, Inc.

Digital Presence: Questrade's online ecosystem includes questrade.com and the QuestMobile: Invest & Trade app.

• Audience Trends: Questrade's website saw a decline in monthly visits from over 20M in July to around 13M in September. Monthly true audience numbers were stable, hovering above 700K, with web-only visitors dominating.

• App Engagement: The QuestMobile app maintained a steady monthly active user base, remaining close to 230K.

• Ad Spend & Channels: Questrade’s monthly advertising spend decreased from approximately $760K in July to $657K in September, focusing heavily on platforms like Instagram and TikTok for impressions.

Coinbase, Inc.

Digital Presence: Coinbase operates through coinbase.com and the Coinbase: Buy BTC, ETH, SOL app.

• Audience Trends: The website experienced a decline in monthly visits, starting at over 3.2M in July and dropping to about 2.1M in September. Monthly true audience figures remained above 400K, with a balanced distribution between app and web visitors.

• App Engagement: The app's monthly active user base was stable around 240K in July and August, with a slight dip in September.

• Ad Spend & Channels: Coinbase's monthly ad spend was negligible, with minimal activity observed only on Instagram in September.

Binance (BAM Trading Services Inc.)

Digital Presence: Binance's digital footprint includes binance.com and the Binance: Buy Bitcoin & Crypto app.

• Audience Trends: The website visits remained stable around 3.7M to 3.8M monthly throughout the quarter. Monthly true audience numbers were consistently above 400K, with app-only visitors being the majority.

• App Engagement: The app maintained a robust monthly active user base, with active users consistently around 310K.

• Ad Spend & Channels: Binance's monthly ad spend peaked in July at around $2.9K, primarily targeting Facebook and Instagram.

Conclusion

Q3 2023 showcased unique trends across Canada's top investing and financial management platforms. Questrade led in web engagement, while Binance demonstrated strength in app-based user interactions. Coinbase balanced its presence across both platforms. Sensor Tower’s unparalleled data offerings have been instrumental in revealing these insights, providing a comprehensive understanding of cross-platform user behavior.

For more insights, explore Sensor Tower's Web Insights and Pathmatics for advertising data, along with App Performance Insights for app engagement analytics.