Compare Canada’s Top Online Brokerages
The Definitive Comparison · Updated May 2026
Every broker in Canada,
side by side.
Ten self-directed brokerages — compared across fees, platform quality, account access, and regulatory protection. No sponsored rankings. No bank partnerships pulling ratings upward.
Last reviewed
May 6, 2026
May 6, 2026
| Comparison Category | 01 · IndependentInteractive BrokersIBKR Canada (Pro) | 02 · IndependentQuestradeEst. 1999 | 03 · IndependentWealthsimpleSelf-Directed | 04 · IndependentQtradeDirect Investing | 05 · Big BankTDDirect Investing | 06 · Big BankBMOInvestorLine | 07 · Big BankRBCDirect Investing | 08 · Big BankCIBCInvestor's Edge | 09 · Big BankScotiaiTRADE | 10 · Big BankNBDBNational Bank |
|---|---|---|---|---|---|---|---|---|---|---|
| 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. | $9.99$7.00 if 150+ trades/qtr. $1.99 partial shares. Free select ETFs. | $9.95$3.95 via 5 Star Program (150+ trades/qtr or $250K balance). 80+ free ETFs. | $9.95$6.95 for active traders (150+ trades/qtr). Free select ETFs. | $6.95Lowest Big Bank fee. $4.95 active. $0 for under 25. $5.95 students. | $9.99$4.99 if 150+ trades/qtr. Free select ETFs (24hr hold). | $0First Big Bank to go commission-free (2021). |
| Options TradingBase fee + per contract | $0.15–0.65/ctVolume tiered. No base fee. | $0 + $0.99/ctNo base fee. US options: tiered refund program reduces fee at higher monthly volumes. | $0 + $0/ctOnly broker in Canada with zero options fees (Jan 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. | $9.99 + $1.25Standard Big Bank pricing. | $9.95 + $1.25$3.95 + $1.25 for 5 Star members. | $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/ctZero base fee. |
| Currency Conversion (FX)CAD ↔ USD spread/markup | ~0.002% + $2Industry-leading. Best-in-class FX rates. | 1.5%USD registered accounts available. Norbert's Gambit supported. | 1.5%0.05% for Premium/Generation ($100K+). USD accts $10/mo below threshold. Norbert's Gambit in beta (Mar 2026) — web platform only, $9.95 + tax journaling fee. | ~1.5–2%USD registered accounts available. | ~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. |
| Account & Inactivity FeesAdmin / maintenance charges | $0No account fees or inactivity charges. | $0No admin fees. No inactivity fees. | $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). | $25/qtrWaived with $15K+ balance or other conditions. | $25/qtr$100/yr reg accts. Waived at $25K registered / $15K non-reg. | $25/qtrWaived with $15K+ balance or recurring contributions. | $100/yrWaived with $25K RRSP or $10K non-reg. Free for under 25. | $25/qtrWaived at standard thresholds. | $100/yrWaived at $20K assets, 5+ trades/yr, or age 30 and under. |
| Margin Interest RateApprox. rate for borrowing | ~3.83–5.83%Benchmark + 0.5–1.5%. Among the lowest globally. ~5.4% USD. | ~11.5% USDHigh vs. IBKR. Lower rates unlocked at higher volume. | Prime + 0.5% / 0% / −0.5%Tiered: Core (prime + 0.5%), Premium $100K+ (prime + 0%), Generation $500K+ (prime − 0.5%). | Prime + 0–1%Prime + 0% for Investor Plus ($100K+ margin). Prime + 1% standard. | ~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. |
| 2. Accounts & Access | ||||||||||
| Account TypesRegistered & non-registered (of 13) | 8/13No RESP, LIRA, LIF, Corporate, RDSP. RRIF added Feb 2026. Limited in-kind transfer support. | 12/13Full suite except RDSP. | 12/13Full suite except RDSP. Trust accounts not offered. | 10/13No LIF, Corporate, RDSP. Joint accounts supported. | 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. |
| Minimum DepositTo open and trade | $0Reduced from $10K in recent years. | $0Removed $1,000 minimum in 2025. | $1Effectively zero. | $0No minimum. | $0No minimum. | $5,000Required to open a Self-Directed account. | $0No minimum. | $0No minimum. | $0No minimum. | $0No minimum. |
| 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. | GoodWebBroker is feature-rich. TD Easy Trade for simplicity. | GoodSolid platform. Mobile app highly rated. | 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. |
| Mobile AppiOS + Android | YesIBKR Mobile. Highly functional. | YesQuestMobile + Edge Mobile. | YesCombines trading, banking, crypto, managed. | YesAward-winning mobile app. | YesTD App integrated with banking. | YesBMO InvestorLine app. | YesRBC Mobile integrated. | YesCIBC Mobile Wealth. Uninspiring design. | YesScotia iTRADE app. Underperforms. | YesRecently improved. |
| 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. | ExcellentWebBroker ranks among Canada's best for research. | GoodStrong research for 5 Star members. | GoodSolid research suite. | GoodImproved recently. Limited mobile tools. | GoodStrong for Gold/Platinum tier members. | GoodAdequate. Fewer third-party integrations. |
| 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. | PartialAvailable. $1.99 for partial trades. | NoNot supported. | NoNot supported. | PartialVia CDRs only. | 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. | YesMost registered types support USD. | YesUSD accounts in registered plans. | YesAdded more recently than peers. | YesSupported in registered accounts. | YesSupported. | YesSupported. |
| DRIP SupportDividend reinvestment | Yes | Yes | SyntheticAccount-level only. No discount, no per-stock control. | Yes | YesMust call to activate for some securities. | YesClear eligible-company list. | 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. | YesAvailable on Advanced Dashboard / Active Trader. | PartialLimited to Active Trader tier. | NoRegular hours only. | NoRegular hours only. | PartialLimited availability. | NoRegular hours only. |
| 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. CDRs available. | NoCrypto ETFs only. | NoCrypto ETFs only. |
| 4. Onboarding & Support | ||||||||||
| 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. | 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. |
| 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. | 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. |
| Sign-up PromoNew account offers as of Apr 2026 | VariesThird-party offers available.View offer → | $50 cash bonus$50 for a $250 deposit via affiliate link. Plus up to $150 transfer-in rebate (active to Jun 30, 2026).View offer → | $25 cash bonus$25 for a $100 deposit via referral link. 1% Match also available (May 2026) for larger transfers.View offer → | Up to $5,000Cash back + unlimited free trades (tiered).View offer → | Aeroplan pointsUp to 300K points tiered by deposit.View offer → | VariesTransfer rebate available.View offer → | Avion pointsPeriodic offers for RBC clients.View offer → | LimitedOccasional transfer rebates.View offer → | VariesPeriodic cash-back promos.View offer → | LimitedSmall promos for specific professions.View offer → |
| 5. Regulation & Reputation | ||||||||||
| CIPF InsuranceInvestor protection | $1M/acctCIPF + US SIPC coverage. | $1M/acct | $1M/acct | $1M/acct | $1M/acct | $1M/acct | $1M/acct | $1M/acct | $1M/acct | $1M/acct |
| RegulatorPrimary oversight body | CIRO + SEC/FINRADual-regulated. | CIROFormerly IIROC. | CIRO | CIRO | CIRO | CIRO | CIRO | CIRO | CIRO | CIRO |
| 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. | 4.6/4.4Integrated 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 | 1.5/5 | 1.7/5 | 1.4/5 | 1.3/5 | 1.4/5 | 1.5/5 |
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Notes & Methodology
§Data sources. Fees and features verified against each broker's official website and fee schedules as of May 2026. 3rd party data sources also consulted where appropriate. Promotional offers change frequently.
§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.
§Margin rates shown are approximate and tier-dependent. All rates fluctuate with Bank of Canada and Fed benchmark rates.
§Interactive Brokers caveat. IBKR Canada offers IBKR Pro only. IBKR Lite (commission-free US trades) is not available to Canadian residents.