Compare Online Brokers and Investing Platforms in Canada

1. Compare Online Brokers in Canada: The Master Table

What the table shows. Every broker we score, in rank order, with the costs and accounts that most often decide a choice: Canadian and US commissions, US dollars in registered accounts, FHSA and RESP availability, and the minimum to open. Type a word such as FHSA or USD in the filter box to narrow the rows. A broker’s name links to our full review where one exists.

Online brokerage comparison: how to read it

“Not published” means exactly that. When a broker’s own pages do not state a figure, we write “not published” rather than guess. “Not listed” means the broker’s account pages do not include that account type. Prices are each broker’s standard online prices for a self-directed account as of October 22, 2026, before promotions.

$0 trades the table leaves out. Several brokers that charge per trade offer $0 trades to some clients. TD Easy Trade gives the first 100 stock and ETF trades each calendar year at $0, then charges $9.99. RBC Direct Investing’s GoSmart service gives 50 stock and ETF trades a year at $0 in GoSmart TFSA, FHSA and RRSP accounts, and RBC charges $0 on 50+ select ETFs in all accounts. CIBC Investor’s Edge charges $0 for investors aged 18 to 24 with CIBC Smart Start chequing and $0 on 180+ ETFs. Scotia iTRADE gives up to 100 $0 trades a year with a Scotiabank Ultimate Package (50 with Preferred) from September 1, 2026, and has 200+ commission-free ETFs. If one of these applies to you, your real cost can be far lower than the headline price.

Fees beyond commissions. A $0 commission does not mean a $0 account. Webull Canada charges an administration fee of $0.70 a month per account. Questrade charges ECN fees on direct-routed US orders, and Wealthsimple passes through exchange and regulatory fees on some US orders. National Bank Direct Brokerage charges $100 a year per account root unless one of its waivers applies, such as $20,000 or more in eligible assets. How these points feed the score is set out in our broker rating methodology.

2. Best Online Brokers by Overall Score and by Category

One score, several lists. The overall score weights cost 35%, account types 15%, US investing 15%, platform 15%, cash and margin 10% and safety 10%. The category lists reuse the same points with different weights: the US stocks score puts 40% on US investing, the beginners score adds a beginner platform factor and gives safety 20%, and the options score puts 50% on options commissions. That is why one broker can lead one list and sit mid-table on another.

Two lists with their own weights. The ETF score puts 40% on cost, 25% on ETF tools (a DRIP, fractional shares, a mobile app and an advanced platform), 15% each on account types and safety, and 5% on US investing. The active-trader score puts 30% on cost, 20% on cash and margin rates, 20% on an advanced platform, options trading and a mobile app, 15% on options commissions, 10% on safety and 5% on US investing. The fractional shares list keeps the overall score but includes only the five brokers that publish fractional trading.

Who leads where. Questrade leads the overall list at 4.3 / 5, with $0 commissions, all 10 account types and US dollars in registered accounts at no extra cost. On the US stocks score, Desjardins Online Brokerage and Questrade both score exactly 4.575, so Desjardins ranks first by name. Interactive Brokers Canada leads the options list at 4.6 / 5, helped by the lowest margin rate we track, and Wealthsimple leads for beginners at 4.7 / 5. The full reasoning for each broker is in our broker reviews.

Ties at one decimal. Questrade and Desjardins Online Brokerage both show 4.3 / 5 overall, and Questrade ranks first on its unrounded score of 4.325 against 4.275. Interactive Brokers Canada (4.232), Wealthsimple (4.225) and National Bank Direct Brokerage (4.175) all show 4.2 / 5. Our Wealthsimple vs Questrade comparison breaks down the gap between two of them factor by factor.

3. Trading Costs at Canada’s Discount Brokers

Three profiles, priced at every broker. The table prices three hypothetical investors at published prices. Active: two Canadian trades and one US trade a month in a $20,000 TFSA. Buy-and-hold: one Canadian trade a month. Options: four US options trades a month of two contracts each. Each profile counts commissions plus any yearly account fee, every stock trade is a $2,000 order of 40 shares, and each commission is counted at its published amount.

What drives the gaps. Six brokers cost $0.00 a year in both trading profiles: BMO InvestorLine, Desjardins Online Brokerage, National Bank Direct Brokerage, Qtrade Direct Investing, Questrade and Wealthsimple. Webull Canada costs $8.40 a year in each because of its administration fee. Interactive Brokers Canada and moomoo Canada charge per share, so the active profile costs $36.00 and $59.64 a year there. The four brokers still charging $6.95 or more a trade cost $250.20 or more a year on the active profile. For options, Questrade and Wealthsimple cost $0.00, while the brokers with a $9.95 or $9.99 base commission cost close to $600 a year.

Your own pattern. Enter your trades and options in the calculator below. It totals commissions, options and account fees at every broker we cover, at published prices, and sorts them from cheapest.

Transfer costs. Moving an account out costs $150 at Questrade, Qtrade Direct Investing, National Bank Direct Brokerage, TD Direct Investing, RBC Direct Investing and Scotia iTRADE, and $150 for a full transfer at Webull Canada and Desjardins Online Brokerage. Wealthsimple charges $0 to transfer out. Some receiving brokers cover the old broker’s fee: Questrade up to $150 per account, RBC Direct Investing up to $200 on transfers of $15,000 or more, and Wealthsimple up to $150 per account on transfers of $25,000 or more. Our guide to transferring an investment account explains how to move a TFSA or RRSP without tax.

4. US Investing and USD Accounts

US commissions. Seven brokers charge $0 on online US stock and ETF trades. Interactive Brokers Canada charges USD 0.005 a share with a USD 1 minimum and moomoo Canada US$0.0099 a share with a US$1.99 minimum, while CIBC Investor’s Edge charges $6.95, RBC Direct Investing $9.95, and TD Direct Investing and Scotia iTRADE $9.99. The table ranks all 13 by our US stocks score, which gives US investing 40% of the weight. The US sub-score has two parts: up to 3 points for US dollars in registered accounts and up to 2 for the US commission.

US dollars in registered accounts. Brokers differ on whether your TFSA and RRSP can hold US dollars, and on the account fee for it. Questrade includes this at no cost. Wealthsimple charges $10 a month on its Core tier and includes it on Premium ($100,000 or more) and Generation ($500,000 or more). Qtrade Direct Investing charges US$15 a quarter per RRSP, RRIF or TFSA, free with Investor Plus. National Bank Direct Brokerage and Desjardins Online Brokerage list USD registered accounts with no fee stated, and moomoo Canada’s TFSA and RRSP can hold both Canadian and US dollars, with no fee stated.

Withholding tax on US dividends. The US withholds 15% of dividends from Canadians under the Canada-US tax treaty. An RRSP or RRIF is exempt because it is a retirement account under the treaty. A TFSA, RESP or FHSA is not exempt, so the 15% is withheld inside those accounts. Our guide to US stocks in a TFSA works through the numbers.

Where to go next. Our best brokers for US stocks list ranks all 13 on the US stocks score. The best TFSA for US stocks and best RRSP for US stocks lists apply the same score account by account. How to buy US stocks in Canada covers the steps, and the investment fee calculator adds up commissions, account fees and fund fees for any pattern.

5. Compare Brokers by Account Type: TFSA, RRSP, FHSA, RESP, RRIF and LIRA

Start with the account. The account you need narrows the field before price does. Each list below ranks only the brokers whose own pages offer that account, ordered by the overall score.

Gaps to watch. moomoo Canada states it does not offer an FHSA, an RESP, joint or corporate accounts, and Webull Canada lists cash, margin, TFSA and RRSP accounts only. Interactive Brokers Canada does not describe an RESP, LIRA or LIF on the pages we checked, and TD Direct Investing’s account page lists cash, FHSA, TFSA, RRSP and margin accounts. If you need an RESP for a child or a LIRA from a past employer, check the list for that account first. Our guides to the TFSA, RRSP, FHSA and RESP explain the rules for each, and the investment accounts hub covers every type.

6. Margin Rates and Interest on Cash

Margin rates. If you borrow against your investments, the rate matters more than any commission. The table sorts brokers by their published CAD margin rate on a loan under $100,000. Rates quoted as prime plus a margin use the 4.45% prime rate in effect since October 30, 2025.

The gap in dollars. On a $20,000 margin loan held for a full year, 3.675% at Interactive Brokers Canada costs $735.00 ($20,000 x 3.675%), while 8.70% at Questrade costs $1,740.00 ($20,000 x 8.70%), a difference of $1,005.00. Wealthsimple’s rate falls by tier: 4.95% on Core, 4.45% on Premium and 3.95% on Generation. Our lowest margin rates page covers every tier.

Interest on uninvested cash. Most brokers pay little or nothing on cash left in a trading account. Interactive Brokers Canada pays 1.675% on CAD balances above CAD 13,000, with the full rate only when the account is worth more than USD 100,000. Questrade’s published formula works out to 0% at current prime rates. Qtrade Direct Investing pays 0.00% up to $2,000,000, and CIBC Investor’s Edge and National Bank Direct Brokerage pay 0%. If you hold cash for long, a high-interest savings account usually pays more; see our best high-interest savings accounts.

7. Robo-Advisors and Other Investing Platforms Compared

When a robo-advisor fits. A robo-advisor builds and rebalances an ETF portfolio for you for a yearly fee on your balance, plus the funds’ own costs. You give up control and pay more each year than a self-directed account, in exchange for not having to choose, buy or rebalance anything yourself. We rank four robo-advisors that publish both their management fee and their fund costs.

Listed but not ranked. BMO SmartFolio, Justwealth, TD Automated Investing, Nest Wealth and Qtrade Guided Portfolios are not ranked. BMO SmartFolio does not publish its fee breakpoints or fund costs, Justwealth publishes its fee tiers only as an image, and we could not confirm that the other three are open to new clients. The reasons are set out in our rating methodology.

Fee drag over time. The difference between 0.37% and 0.83% on $50,000 is $230 a year ($415 minus $185). Over many years the gap compounds, because the money paid in fees no longer grows. Our best robo-advisors page prices each robo-advisor at four balances, and the Wealthsimple Managed Investing review covers fees by tier.

8. Crypto Platforms Compared

Only authorized platforms. We score only platforms on the Canadian Securities Administrators’ list of authorized crypto trading platforms. Fees carry 35% of the score, regulation 20%, and coin choice, features and funding 15% each.

Fees you can and cannot see. NDAX publishes a flat 0.20% fee. Wealthsimple Crypto charges 0.5% plus a spread on market orders, with no spread on limit orders. Shakepay and Netcoins charge no separate fee but build a spread of undisclosed size into the price, so their true cost cannot be compared directly. Our best crypto platforms page and Wealthsimple Crypto review cover custody, staking and withdrawals.

Protection and tax. Even where the dealer is a CIPF member, Wealthsimple, Newton and Robinhood Canada each state that the crypto itself is not CIPF-protected. Selling crypto at a gain is generally taxed as a capital gain; the capital gains tax calculator shows the tax by province.

9. Tax Software, Bank Accounts and Savings

Tax software. We score seven NETFILE-certified products for the 2025 tax year on price, features, support and Quebec filing. Wealthsimple Tax leads at 4.8 / 5 with a pay-what-you-want Basic tier that has no income-type limits. H&R Block Canada and TurboTax Canada tie at 4.5 / 5.

Banking and savings. EQ Bank’s Personal Account leads our chequing ranking at 4.6 / 5 with a $0 monthly fee and 2.75% interest with pay direct deposit, ahead of Wealthsimple Chequing at 4.4 / 5. Savings, USD savings and GIC pages are sorted by rate rather than score.

10. How to Compare Online Brokers in Canada and Choose One

Use your own numbers. The best broker for a buy-and-hold ETF investor is rarely the best for someone trading US stocks every week. Please work through these steps with your own balance and habits before you open an account.

1. Price your trading pattern. Count your Canadian trades, US trades and options trades a year, and run them through the cost calculator above. Add any account fee you would not avoid.
2. Confirm the accounts you need. Check that the broker offers every account you want to hold, including an FHSA, RESP, spousal RRSP or LIRA if you need one.
3. Plan for US dollars. If you buy US-listed shares, compare the US commission and whether you can hold US dollars in your TFSA and RRSP, and for what account fee.
4. Check the tools. Decide whether you need fractional shares, a DRIP, options, an advanced platform or a mobile app, and filter for them with the matching tool above.
5. Check safety. Confirm the broker is a dealer member of the Canadian Investment Regulatory Organization (CIRO) and a member of CIPF, which protects client property up to $1,000,000 per account category if the firm fails.
6. Plan the move. Ask for a direct transfer from your current institution so registered accounts stay tax-free, and check whether the new broker covers the transfer-out fee.

What CIRO and CIPF do. CIRO regulates investment dealers in Canada and sets the rules they follow with client accounts. CIPF steps in only if a member firm becomes insolvent and client property is missing: it covers up to $1,000,000 for general accounts (cash, margin, TFSA and FHSA combined), $1,000,000 for retirement accounts (RRSP, RRIF and LIF) and $1,000,000 for RESPs. Neither protects you from a fall in the value of your investments. Our guide to CIPF vs CDIC explains how investor protection differs from deposit insurance on savings and GICs.

How we keep the comparison fair. Every score on this page comes from the same published rules, and no provider can pay to change a score or a position. Today WealthScale has no paid or affiliate links; our page on how WealthScale makes money explains how any future partner links will be labelled. Our editorial standards explain how figures are checked, and the step-by-step guide to investing in Canada covers what to do once your account is open.

Meet the Experts Behind WealthScale

Sharad Gondaliya, CPAWriter and tax reviewerCPA Ontario No. 61040184

Sharad is a CPA Ontario member (No. 61040184) and a Certified Public Accountant licensed in Washington and Montana, with more than 15 years in accounting and tax, a Diploma in Banking and Finance and a Certificate in Small Business Finance. He checks WealthScale content against primary sources. WealthScale is independent of his firm, Gondaliya CPA Professional Corporation, and provides general information only, not personal financial, investment, tax or legal advice.

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Neha Gupta, CFAFinancial ReviewerCFA charterholder

Neha Gupta is a CFA charterholder based in Winnipeg who has worked in financial markets since December 2005. She has published more than 2,600 investment articles and is Head of Operations and Finance at Whiteland Real Estate. She reviews WealthScale’s investing pages for accuracy.

• CFA charter, CFA Institute (awarded 2023)
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