Compare Canada’s Top Online Brokerages

Build Your Own Comparison · Updated September 2026

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Last reviewed
September 16, 2026

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The Definitive Comparison · Updated September 2026

Every broker in Canada,
side by side.

Self-directed brokerages, compared across fees, platform quality, account access, and regulatory protection. No sponsored rankings. No bank partnerships pulling ratings upward.

Last reviewed
September 16, 2026
Comparison Category 01 · IndependentInteractive BrokersIBKR Canada (Pro) 02 · IndependentQuestradeEst. 1999 03 · IndependentWealthsimpleSelf-Directed 04 · IndependentQtradeDirect Investing 05 · InternationalMoomooFutu Holdings (HK) · Chinese-owned 06 · InternationalWebullWebull Corp (US/HK) · Chinese-owned 07 · Big BankTDDirect Investing 08 · Big BankBMOInvestorLine 09 · Big BankRBCDirect Investing 10 · Big BankCIBCInvestor's Edge 11 · Big BankScotiaiTRADE 12 · Big BankNBDBNational Bank 13 · Co-opDesjardinsDisnat · Online Brokerage
1. Fees & Commissions
Stock & ETF TradingStandard online commission $0.005-0.01/shCAD fixed: $0.01/sh, min $1. USD fixed: $0.005/sh, min $1. Tiered pricing also available. $0Commission-free since Feb 2025. ECN fees may apply. $0Canada's first commission-free platform. $0Canadian and US stocks/ETFs/REITs commission-free since Oct 2025. $1.49-1.99/tradeCAD $1.49/trade. US $1.99/trade. Per-share pricing ($0.0099-0.0149/sh). Not commission-free. $0Commission-free since Apr 2026. Regulatory/exchange fees may apply. $9.99$7.00 if 150+ trades/qtr. $1.99 partial shares. Free select ETFs. $0Unlimited commission-free stock and ETF trades for all Self-Directed clients, effective September 14, 2026. First Big Five bank brokerage to drop commissions. $9.95$6.95 at 150+ trades/qtr. 50+ commission-free ETFs and all mutual funds. GoSmart, for RBC clients in registered accounts only, adds 50 free stock and ETF trades a year. $6.95$4.95 active. $0 for under 25. $5.95 students. Unlimited commission-free trades on 180+ select ETFs in all accounts, no promo code. $9.99$4.99 at 150+ trades/qtr. Free select ETFs (24hr hold). Since September 1, 2026, Ultimate Package bank clients get 100 commission-free trades a year and Preferred Package clients 50. $0First Big Bank to go commission-free (2021). $0Commission-free on stocks & ETFs since 2024.
Options TradingBase fee + per contract $0.15-0.65/ctVolume tiered. No base fee. $0 + $0/ct USNo commission on any options. US equity contracts are free. Canadian contracts are $0.99 each. US index contracts move to a flat $0.99 on September 28, 2026, replacing the volume tiers. Questrade Plus pays $0.05 CAD back per US equity contract. Exercise $24.95, assignment free. $0 + $0/ct$0 commission and $0 per contract across all client tiers since January 2026. $0 + $0.75/ctNo base fee. $0.75/ct confirmed effective Oct 28, 2025 (down from $8.75 base + $1.25/ct). Options assignment: $30 flat fee. $0 + $0.65/ctUS options only. Min $1/order. No base fee. US$0.99/ctUS options only. Contract fees are refunded for the first 3 months after you activate options trading. $9.99 + $1.25Standard Big Bank pricing. $0 + $0.90/ctNo commission on options. Contract fee cut to $0.90 from $1.25 on September 14, 2026. No exercise or assignment fees. $9.95 + $1.25$6.95 + $1.25 active. $6.95 + $1.25$4.95 + $1.25 active. Lowest among Big Banks. $9.99 + $1.25$4.99 + $1.25 for 150+ trades/qtr. $0 + $1.25/ctNo base fee, but a $6.25 minimum per trade applies, capped at $19.95 when the trade value is under $2,000. Assignment or automatic exercise is $28.95. $8.75 + $1.25/ct$1.25 per contract, $8.75 minimum. Higher than commission-free peers.
Currency Conversion (FX)CAD ↔ USD spread/markup ~0.002% + $2Industry-leading. Best-in-class FX rates. 1.5%Dual-currency in every registered account avoids per-trade conversion. Norbert's Gambit supported at a flat $9.95 per journaling request, or free and unlimited with Questrade Plus. 1.5%Free USD account at Premium/Generation ($100K+) avoids per-trade conversion; USD account $10/mo below threshold. The 0.05% reduced spread applies only to U.S. Index holdings. Automated Norbert's Gambit (2026), flat $9.95. ~1.5-2%USD registered accounts available. No explicit feeUses the Moomoo Preferred Rate (MMPR), a live corporate rate with a built-in, unpublished spread. Marketed as 0% FX fee. 1.5%Exchange rate + 1.5% markup. Refreshes every 10 minutes. ~1.5-2%USD accounts in most registered types. ~1.5-2%USD accounts available. Norbert's Gambit supported. ~1.5-2%USD accounts now available (added 2024). ~1.5-2%USD accounts available. ~1.5-2%USD accounts available. ~1.5-2%$10 journaling fee added for Norbert's Gambit. 0.15-1.90%Income margin on conversion, scaled by amount (larger conversions get tighter rates). USD registered accounts available.
Account & Inactivity FeesAdmin / maintenance charges $0No account fees or inactivity charges. $0No admin fees. No inactivity fees. The optional Questrade Plus tier is $19.99 per month. $0Except $10/mo USD account fee if under $100K. $0Quarterly admin fee eliminated Oct 2025. USD registered accounts: US$15/qtr unless Investor Plus ($100K+ margin balance). $0No account, inactivity, or deposit fees. $0No account, inactivity, or deposit fees. $25/qtrWaived with $15K+ balance or other conditions. $0All brokerage account administration fees eliminated September 14, 2026, including the $150 transfer-out fee, the $25/qtr non-registered minimum and the $100/yr RRSP and LIRA minimum. $0No account maintenance fee at any balance, on any account type. $100/yrWaived with $25K RRSP or $10K non-reg. Free for under 25. $25/qtrWaived at standard thresholds. $100/yrWaived at $20,000 in eligible assets as of May 31, at age 30 and under, or on a qualifying professional program. FHSA accounts are exempt. $30/qtrInactivity fee. Waived at $15K balance, 6+ trades/yr, registered accounts, or age 18-30.
Margin Interest RateApprox. rate for borrowing 3.63% CADBenchmark plus 1.5% on the first $130,000, then plus 1.0%. USD 5.13% on the first $100,000. The lowest published rates in Canada. 8.70% CAD / 11.50% USDCAD prime + 4.25% under $100K, + 3.25% above. USD prime + 4.50% / + 3.50%. Registered accounts pay CAD prime + 8.10% or USD prime + 8.35%. CAD prime 4.45%, USD prime 7.00%. Prime + 0.5% / 0% / -0.5%Tiered: Core (prime + 0.5%), Premium $100K+ (prime + 0%), Generation $500K+ (prime - 0.5%). Prime + 1.0-1.55%Prime + 1.55% under $100K, Prime + 1.0% at $100K+. Lower Investor Plus tiers. CAD Prime 4.45%, USD Prime 6.75%. From ~3.85% CADBenchmark-based: CAD benchmark 3.687% plus a tier spread. The 3.85% floor applies to large balances; smaller balances pay more (roughly 7%). USD benchmark 4.58%. ~Prime + 3%USD: Prime + 3% (<$100K). High vs. peers. ~Prime + 1.25-2.5%Standard Big Bank range. ~Prime + 1.25-2.5%Tiered by balance. ~Prime + 1.25-2.5%Tiered by balance. ~Prime + 1.5-2.5%Tiered by balance. ~Prime + 1.25-2.5%Tiered by balance. ~Prime + 1.5-2.5%Tiered by balance. Prime + 0-1.25%CAD: Prime + 1.25% under $100K, Prime + 0.5% to $499K, Prime at $500K+.
2. Accounts, Setup & Support
Account TypesRegistered & non-registered (of 13) 9/13No RESP, LIRA, LIF, RDSP. Corporate via Small Business account. RRIF added Feb 2026. Limited in-kind transfer support. 12/13Full suite except RDSP. 12/13Full suite except RDSP. Trust accounts not offered. 12/13Full suite except RDSP. LIF, Corporate, Trust, Joint and Investment Club all supported. 5/13Cash, Margin, TFSA, RRSP, Spousal RRSP only. No FHSA, RESP, RRIF, LIRA, LIF, Joint, Corporate, RDSP. 4/13Cash, Margin, TFSA, RRSP only. No Spousal RRSP, FHSA, RESP, RRIF, LIRA, LIF, Joint, Corporate, RDSP. Full suiteAll 13 types + Trust accounts. Full suiteAll 13 types + AdviceDirect hybrid option. Full suiteAll 13 types including RDSP. Full suiteAll 13 types including RDSP. Full suiteAll 13 types including RDSP. Full suiteAll 13 types including RDSP. 11/13Cash, Margin, TFSA, RRSP, Spousal, FHSA, RESP, RRIF, LIRA, LIF, plus Corporate & Trust (non-personal). No RDSP. No standalone Joint.
Minimum DepositTo open and trade $0Reduced from $10K in recent years. $0Removed $1,000 minimum in 2025. $1Effectively zero. $0No minimum. $0No minimum. $0No minimum. $0No minimum. $0No minimum balance to open a Self-Directed account. $0No minimum. $0No minimum. $0No minimum. $0No minimum. $1,000Waived for ages 18-30 and for registered accounts.
Account Opening SpeedFrom signup to first trade 1-3 daysMore steps than most. Global suitability checks. 24 hoursFully online. Can be near-instant. < 10 minutesFastest in Canada. Instant deposits up to $50K. 2-3 daysInstant for some. Fully digital. Same dayFast digital onboarding. Verification typically same day. 1-2 daysFully online. May take up to 2 business days. 1-3 daysEasier if existing TD client. 1-3 daysEasier for existing BMO clients. 1-3 daysSmoother for existing RBC clients. 1-3 daysMay require branch visit for some. 1-3 daysFaster for existing Scotia clients. 2-7 daysSlowest of the group per user reports. 1-3 daysFully online. Faster for existing Desjardins members.
Customer SupportChannels & quality GoodPhone, chat, email. Complexity slows resolution. Excellent#1 in Surviscor 2026 service review. GoodM-F 9-6 ET. Capable AI chatbot after hours. ExcellentIndustry-best reputation. Dedicated phone support. Good24/7 online chat. Phone and email on trading days. No independent CA service ranking yet. PoorPhone, email. Limited hours. Consistent complaints about response times. GoodPhone, chat, branch access. GoodPhone, chat, branch access. GoodPhone, chat, branch. PoorRanked worst among Big Banks (Surviscor). PoorConsistent complaints re: response times. PoorLong hold times. Slow processing. GoodJD Power #2 in self-directed satisfaction. Phone + secure messaging, business hours.
Sign-up PromoNew account offers as of September 2026 VariesThird-party offers available.View offer → 0% margin + $50Code 0MARGIN gives new clients 0% interest on their first US$5,000 of margin for 180 days, on applications from September 1 to December 31, 2026. Referral pays $50 each once the new account is funded with $250. Transfer-fee rebate up to $150 per account.View offer → $25 + 1% match$25 for a $100 deposit via referral link. 1% match on net new transfers of $25,000 up to $2M, max $20,000, paid over 24 months. You must register before you transfer. The 3% Active Trader rate and the 0.2% boost above $2M have both closed.View offer → Up to $5,0005% of the deposit on $1,000 to $10,000, then flat tiers from $550 at $10,000 up to $5,000 at $500,000+. Extra $100 for funding $25,000 within 30 days. Code OFFER2026. Open by Jan 5, 2027; fund by Feb 5, 2027; hold to Feb 5, 2028.View offer → Deposit & transfer couponsDeposit rewards in stock cash coupons plus transfer-in coupon rewards, per Moomoo's own support terms. Coupon-based rather than unrestricted cash, with no published end date. Confirm current terms in-app.View offer → 3 months of $0 option contractsContract fees refunded for the first 3 months after activating options, plus 1 month of free Nasdaq Level 2 data, and 3 more months on a first deposit of CAD $500+.View offer → 3% registered / 1% non-regMax $15,000. Code CASHBACK, register by Oct 23, 2026; transfer $2,500+ by Nov 30, 2026; hold to Nov 30, 2028.View offer → No standing offerThe SDCASHFT cash-back campaign closed to new accounts on August 31, 2026. BMO made $0 commissions and $0 administration fees permanent instead, from September 14, 2026.View offer → 3% registered / 1% non-regMax $15,000. New clients only, open via an RBC promotional link Jul 31 to Nov 2, 2026; fund $2,500+ by Nov 30, 2026; hold to Nov 30, 2028.View offer → 200 free tradesCode EDGE2026 on a new eligible account by September 30, 2026 gives 200 stock and ETF trades to use by September 30, 2028, available once per eligible account type. The Premium Edge transfer tiers, starting at $1,000 on $100,000, run separately.View offer → Package free tradesThe SUM26 cash-back campaign closed on August 31, 2026 and no cash offer has replaced it. Since September 1, 2026, Ultimate Package bank clients get 100 commission-free trades a year and Preferred Package clients 50.View offer → LimitedSmall promos for specific professions.View offer → No standing offerNo sign-up bonus or referral program. Commission-free trading is the standing draw.View offer →
3. Platform & Experience
User-FriendlinessLearning curve & design PoorPowerful but steep learning curve. Built for pros. GoodClean standard platform. Questrade Pro for advanced users. ExcellentBest in class for beginners. Genuinely polished app. ExcellentModern, intuitive web + mobile. Wins design awards. GoodFeature-rich app. Can overwhelm beginners with data density. GoodClean, modern interface. Solid charting tools. GoodWebBroker is feature-rich. TD Easy Trade for simplicity. GoodSolid platform. New BMO Invest app, plus BMO Active Trader with paper trading and multi-leg options. GoodFunctional but dated. Decent mobile experience. GoodRecently revamped. Mediocre mobile app. GoodFlightDesk for advanced users. Platform feels dated. PoorInterface lags behind competitors despite recent updates. GoodDisnat Classic is clean and simple; Disnat Direct for active traders.
Mobile AppiOS + Android YesIBKR Mobile. Highly functional. YesQuestMobile + Edge Mobile. YesCombines trading, banking, crypto, managed. YesAward-winning mobile app. YesiOS + Android. Polished design with AI tools. YesiOS + Android. Desktop also available. YesTD App integrated with banking. YesBMO Invest app, built for phones. Tablets use the browser. YesRBC Mobile integrated. YesCIBC Mobile Wealth. Uninspiring design. YesScotia iTRADE app. Underperforms. YesRecently improved. YesDisnat mobile app. Functional.
Research & AnalyticsScreeners, data, analyst tools ExcellentGlobalAnalyst, PortfolioAnalyst, institutional-grade data. GoodTipRanks, Seeking Alpha, Trading Central integrated. PoorMinimal charting. No advanced screeners. ExcellentPortfolio Score, Portfolio Simulator, Trading Central. ExcellentFree Level 2 data, 100+ indicators, AI insights, Morningstar ETF ratings. GoodAdvanced charting. Free Nasdaq L2 for limited time. ExcellentWebBroker ranks among Canada's best for research. GoodAI-generated news and market summaries, options screeners and strategy builders. Deeper research for 5 Star members. GoodSolid research suite. GoodImproved recently. Limited mobile tools. GoodStrong for Gold/Platinum tier members. GoodAdequate. Fewer third-party integrations. GoodTrading Central, Morningstar, Desjardins research. Level 2 for active traders.
Global Market AccessMarkets with native trading (not ETFs) 150 marketsDirect native access to global exchanges. The only Canadian broker with true worldwide reach. Canada + USTSX, TSXV, CSE, NYSE, Nasdaq plus OTC. Other markets only as CFDs, not native shares. Canada + USNorth American exchanges only. Canada + USNorth American exchanges only. Canada + USUS and Canadian markets only. Canada + USUS and Canadian markets only. Canada, US + 10 globalNative online trading on 10 international markets (London, Frankfurt, Hong Kong and seven more) through Global Trading on WebBroker, plus Canada and the US. Canada + USNorth American exchanges only. Canada, US + 4 globalOnline trading on 4 international exchanges (London, Hong Kong, Frankfurt, Euronext Paris) since Dec 2024, plus Canada and the US. More markets by phone. Canada + USNorth American exchanges only. Canada + USNorth American exchanges only. Canada + USNorth American exchanges only. Canada + USNorth American exchanges only.
Fractional SharesBuy less than 1 share PartialUS stocks & ETFs only. PartialUS stocks & ETFs only. Not CAD yet. YesCAD & US stocks. No fees. $1 minimum. NoNot supported. NoNot available to Canadian clients (US-entity feature only). PartialUS stocks only. PartialAvailable. $1.99 for partial trades. NoNot supported. NoNot supported. PartialVia CDRs only. NoNot supported. NoNot supported. NoNot supported.
USD in Registered AccountsHold USD in TFSA/RRSP YesFull multi-currency support. YesSignature feature. Dual-currency in all registered. PartialYes via USD account upgrade ($10/mo for Core). YesUSD registered accounts available. YesDual-currency accounts hold CAD and USD, including in TFSA and RRSP. Registered deposits in CAD. PartialAuto-converts at 1.5% markup. No true USD sub-accounts. YesMost registered types support USD. YesUSD accounts in registered plans. YesAdded more recently than peers. YesSupported in registered accounts. YesSupported. YesSupported. YesUSD plans for RRSP, RRIF, LIRA, LIF and more.
DRIP SupportDividend reinvestment Yes Yes SyntheticAccount-level only. No discount, no per-stock control. Yes NoNot currently offered in Canada. NoNot currently offered in Canada. YesMust call to activate for some securities. YesClear eligible-company list. Yes Yes Yes Yes Yes
Extended Hours TradingPre-market & after-hours YesNearly 24/6 for US stocks, 10-min break at 3:50-4:00am ET only. Most extensive window in Canada. YesOvernight trading added recently. Yes24/5 US equity trading. Among Canada's broadest windows, but IBKR's ~24/6 is longer. YesUS pre-market and after-hours. Yes~16 hours. US pre-market and after-hours. Yes4 AM - 8 PM ET for US stocks. YesAvailable on Advanced Dashboard / Active Trader. PartialLimited to Active Trader tier. PartialUS pre-market 8:00 to 9:25 am ET. After-hours 4:15 to 5:00 pm ET on the TSX and TSXV and 4:01 to 5:00 pm ET on US markets. Much narrower windows than peers, at no extra cost. NoRegular hours only. PartialLimited availability. NoRegular hours only. YesExtended US equity hours available.
Crypto TradingDirect crypto, not ETFs NoUS residents only. Crypto ETFs available. NoCrypto ETFs only. YesDirect crypto via separate Wealthsimple Crypto account. Only Canadian broker with this. NoCrypto ETFs only. NoCrypto ETFs only. NoCrypto ETFs only. NoCrypto ETFs only. NoCrypto ETFs only. NoCrypto ETFs only. NoCrypto ETFs only. CDRs available. NoCrypto ETFs only. NoCrypto ETFs only. NoCrypto ETFs only.
4. Regulation & Reputation
Regulation & ProtectionRegulator & investor insurance CIROCIPF $1M per account. US parent is SEC/FINRA regulated, but Canadian clients are covered by CIPF, not SIPC. CIROCIPF $1M per account. CIROCIPF $1M per account. CIROCIPF $1M per account. CIROCIPF $1M. Parent: Futu Holdings (NASDAQ: FUTU), HK-based. CIROCIPF $1M. Parent: Webull Corp (NASDAQ: BULL), US/HK-based. CIROCIPF $1M per account. CIROCIPF $1M per account. CIROCIPF $1M per account. CIROCIPF $1M per account. CIROCIPF $1M per account. CIROCIPF $1M per account. CIROCIPF $1M. Desjardins Group co-op.
App Store RatingiOS / Google Play avg. 4.5/4.2Mobile app well-regarded. 4.7/4.3QuestMobile (iOS). Edge Mobile (Android). Surviscor #1 mobile experience 2025. 4.7/4.3One of Canada's highest-rated finance apps. 4.5/4.0Award-winning app. 4.6/4.5Feature-rich app with AI tools. 4.5/4.0Clean interface. Newer in Canada. 4.6/4.4Integrated TD banking app. 4.3/3.9 4.5/4.2RBC Mobile. 4.2/3.6 3.9/3.5 4.1/3.7 -
Trustpilot RatingTake with skepticism, see note 3.6/5 1.4/5 2.3/5 1.6/5 2.1/5 1.4/5 1.5/5 1.7/5 1.4/5 1.3/5 1.4/5 1.5/5 -
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Notes & Methodology

1.Data sources. Commissions, currency conversion, account fees, margin rates and sign-up promotions were re-verified against each broker's own website, fee schedule and published offer terms on September 16, 2026. App-store and Trustpilot scores are sampled on a separate cycle and are indicative rather than point-in-time. 3rd party data sources are consulted only where a broker does not publish the figure. Promotional offers change frequently, so confirm current terms directly with each brokerage before you move money.

2.Best and weakest highlights. Green and red shading reflects each broker's standing across the full Canadian market, not only the brokers selected in the interactive tool above. A category can therefore show no green or red if the strongest or weakest provider for it is not in the current selection.

3.Account-type denominator. The "X/13" rating counts: Cash, Margin, TFSA, RRSP, Spousal RRSP, FHSA, RESP, RRIF, LIRA, LIF, Corporate, Joint, RDSP. Trust accounts are noted separately where applicable.

4.Margin rates are tier-dependent and shown at the rate a typical retail balance pays, not the best advertised tier. Rates float with the Bank of Canada policy rate, held at 2.25% at the September 2, 2026 decision and unchanged since October 2025, giving a Canadian prime rate of 4.45%. The next scheduled decision is October 28, 2026. Registered accounts frequently carry a higher spread than non-registered accounts at the same broker.

5.Global market access. Counts markets with native, in-platform trading of actual securities, not exposure through ETFs or derivatives. TD Direct Investing offers native online trading on 10 international markets (the United Kingdom, Australia, Belgium, France, Germany, Hong Kong, Italy, the Netherlands, Singapore, and Spain) through its Global Trading service on WebBroker, which is counted here. RBC Direct Investing offers native online trading on 4 international markets (the London, Hong Kong, Frankfurt, and Euronext Paris exchanges), launched December 2024, also counted here. Markets reached only through broker-assisted phone trading, at TD, RBC, or other bank-owned brokers, are not counted as native access.

6.Interactive Brokers caveat. IBKR Canada offers IBKR Pro only. IBKR Lite (commission-free US trades) is not available to Canadian residents. US estate-tax exposure on assets held directly with IBKR may apply for Canadian residents, consult a cross-border tax advisor.

7.Regulation & Protection. All brokers shown are CIRO-regulated and CIPF-insured up to $1 million per account category. IBKR's US parent is SEC and FINRA regulated, but Canadian clients are covered by CIPF, not US SIPC. Moomoo and Webull are CIRO-regulated but foreign-owned (Futu Holdings and Webull Corp); ownership is noted for transparency, not as a protection difference.