Leading Brands in Canada's Investing & Financial Management Sector: Q4 2023 Insights

In Q4 2023, the Investing & Financial Management sector in Canada witnessed significant activity among leading brands such as Questrade, Inc., Coinbase, Inc., and Binance (BAM Trading Services Inc.). This article explores their performance and trends, leveraging data from Sensor Tower, renowned for delivering unparalleled insights into cross-platform user behavior.

Questrade, Inc.

Questrade's digital presence is anchored by its website, questrade.com, and the QuestMobile: Invest & Trade app.

• Audience Trends: From Q3 to Q4 2023, the Questrade website experienced fluctuations, with December marking a significant increase as visits exceeded 19M. The monthly true audience also saw a notable rise, peaking at nearly 1M in December, showcasing a balanced mix of web and app visitors.

• App Engagement: The app's monthly active users demonstrated substantial growth in December, reaching over 350K, indicating a growing preference for mobile trading.

• Ad Spend & Channels: Questrade's monthly advertising spend was dynamic, peaking in October and December, each exceeding $900K. The majority of impressions were delivered through Facebook and Instagram, with notable activity on TikTok in December.

Coinbase, Inc.

Coinbase offers its digital services through coinbase.com and the Coinbase: Buy BTC, ETH, SOL app.

• Audience Trends: In December, coinbase.com saw a surge, surpassing 5M visits. The monthly true audience followed a similar upward trend, reaching over 500K, with a strong presence of web-only visitors.

• App Engagement: The app maintained a stable monthly active user base throughout the quarter, with users rising to approximately 270K in December.

• Ad Spend & Channels: Coinbase's monthly ad spend increased significantly in Q4, particularly in November and December, focusing on Facebook and Instagram channels, achieving over 30M impressions in December.

Binance (BAM Trading Services Inc.)

Binance provides its services through binance.com and the Binance: Buy Bitcoin & Crypto app.

• Audience Trends: The Binance website experienced a notable increase in December, with visits reaching nearly 5M. The monthly true audience remained stable, around 400K, with a balanced distribution between app and web users.

• App Engagement: The app's monthly active user base saw a slight decline, ending the quarter with just over 290K users in December.

• Ad Spend & Channels: Binance's monthly ad spend was minimal compared to competitors, with a slight increase in December. The primary channels were Facebook and Instagram, with impressions remaining under 200K.

Conclusion

In Q4 2023, Questrade, Coinbase, and Binance showcased varied strategies and outcomes in Canada's Investing & Financial Management sector. Sensor Tower's comprehensive data, including insights from Web Insights, App Performance Insights, and Pathmatics, highlights the dynamic landscape of digital finance. These insights offer decision-makers critical perspectives on user engagement and advertising trends, reinforcing Sensor Tower's position as a leading analytics provider.