Best Brokers for US Stocks in Canada for 2026

Best Broker for US Stocks Canada 2026: Ranking at a Glance

The table lists all 13 online brokers we score, in order of their US-stocks score. Scores are out of 5 and rounded to one decimal. Where two brokers share a rounded score, the order follows the unrounded score, then the name. The US commission is for a 40-share order, the size our scoring model uses. Our other lists are on the page to compare online brokers in Canada.

Master Comparison Table: 13 Brokers for US Stocks

Search or sort the table to compare the measures that drive the cost of owning US stocks. “Not stated” means the provider’s own pages did not say, and “not published” means no figure was given when we checked on October 22, 2026. US-dollar figures are shown as the broker quotes them.

Interactive Brokers’ US$1.00 is its fixed rate of US$0.005 a share applied to 40 shares (US$0.20), raised to the US$1.00 minimum. moomoo’s US$1.99 is its combined minimum for commission and platform fee.

The 13 Brokers for US Stocks Ranked

Each card shows the US-stocks score, why the broker sits where it does, what US trading costs there, and how it handles US dollars. The US sub-score (out of 5) is explained in section 1. Only brokers with a full WealthScale review get a review button.

1. How We Ranked the Best Broker for US Stocks in Canada

One rubric, different weights. Every broker gets the same six sub-scores out of 5 under our broker rating methodology: cost, account types, US investing, cash and margin rates, platform features and safety. The overall ranking and this US-stocks ranking use the same sub-scores with different weights. For US stocks, US investing carries 40% of the score instead of 15%, because US commissions and US-dollar registered accounts decide how well a broker suits US investing.

The US sub-score. It adds two parts. US dollars in registered accounts earn 3 points if offered with no fee, 1.5 points if a fee applies, and 0.75 if the broker does not say. The US commission earns 2 points at $0, 1.5 at $2 or less, and 0 above that. The maximum is 5, and Desjardins, Questrade and National Bank all reach it.

How the cost sub-score works. We price a $20,000 TFSA for two investors at published prices: an active one (two Canadian trades and one US trade a month) and a buy-and-hold one (one Canadian trade a month). Trades are $2,000 orders of 40 shares, priced at the published commission, plus any yearly account fee. The score is 5 minus the average yearly cost divided by $80.

Ties. Scores are shown to one decimal. When two brokers round to the same score, the higher unrounded score ranks first, then the name. Desjardins and Questrade have identical unrounded scores (4.575), so Desjardins is listed first by name, and BMO and Interactive Brokers are also identical (3.625), so BMO is listed first. Wealthsimple (4.05) sits above moomoo (3.955) on the unrounded score.

What never changes a score. Payment, advertising, referral links and sign-up bonuses do not move a broker up or down. Our advertiser disclosure explains how WealthScale earns money, and our editorial standards explain how we check each figure. Every fee here was checked on October 22, 2026.

2. US Investing Sub-Scores, Broker by Broker

This table shows exactly where each broker’s US sub-score comes from. It is the part of the ranking that moves most between brokers, and it explains why a broker with $0 commissions can still rank below one that charges per share.

What the table shows. No-fee US-dollar registered accounts carry the most weight. Desjardins, Questrade, National Bank, moomoo and Scotia iTRADE all collect the full 3 points there. A $0 US commission adds 2 points, which seven brokers earn. Interactive Brokers loses most of its US points because it does not say whether its TFSA or RRSP can hold US dollars.

Not stated costs points. A broker that does not publish a fact gets the lowest non-zero score for it. That rule rewards brokers that tell you what you will pay. BMO, CIBC, RBC, TD, Webull and Interactive Brokers could each gain up to 2.25 points if they published no-fee US-dollar registered accounts.

Why the order differs from the overall ranking. On the overall score, Questrade leads at 4.3 / 5, with Desjardins also at 4.3 / 5 and Interactive Brokers third at 4.2 / 5. Here, US investing outweighs cost, so the brokers that hold US dollars in registered accounts with no fee move up, and Interactive Brokers, whose registered-account USD treatment is not stated, falls to eighth. If you will rarely buy US stocks, the best online brokers overall list may suit you better.

3. Best Way to Buy US Stocks in Canada: Four Investor Profiles

The best way to buy US stocks in Canada depends on how often you trade and which accounts you use. We priced four hypothetical investors at every broker’s published commissions and account fees as of October 22, 2026, with nothing else added. Each US trade is a 40-share order, and prices quoted in US dollars are added as quoted. Conditional fees that a waiver can remove, such as small-account admin fees, are left out.

The four profiles. Profile 1 buys once a month (12 US trades a year). Profile 2 buys four times a month (48 trades). Profile 3 trades ten times a month (120 trades). Profile 4 is an active trader who makes 240 US trades a year (60 a quarter).

How the figures add up. Each figure is the number of US trades times the broker’s price for a 40-share order, plus Webull’s $0.70-a-month account fee ($8.40 a year), the only account fee on this list that no balance waives. Interactive Brokers’ Profile 1 is 12 trades at the US$1 minimum ($12.00), and moomoo’s is 12 trades at US$1.99 ($23.88). TD’s Profile 4 is 240 x $9.99 = $2,397.60.

What wins where. The seven $0-commission brokers cost nothing in every profile, apart from Webull’s $8.40 account fee. Per-share pricing stays low at small trade counts: Interactive Brokers costs $12.00 a year for monthly buying and $240.00 for 240 trades. Bank brokers that charge per trade cost the most for active traders, from $1,668.00 at CIBC (240 x $6.95) to $2,397.60 at TD and Scotia iTRADE. TD Easy Trade’s first 100 trades a year, RBC GoSmart’s 50 and Scotia’s banking-package trades lower the bank figures for clients who qualify.

USD account fees on top. If you keep US dollars in a registered account, add that account’s fee. Wealthsimple’s USD account costs $120 a year ($10 x 12) plus tax on Core and is included from $100,000 in assets. Qtrade charges US$60 a year (4 x US$15) per account, waived with Investor Plus. Questrade, Desjardins, National Bank, moomoo and TD Easy Trade list no fee.

Enter your own pattern below. The calculator totals commissions and unavoidable account fees at every broker, using the same published prices.

4. US Commissions by Order Size

Three pricing models. Seven of the 13 brokers charge every client $0 online commission on US stocks and ETFs: Desjardins, Questrade, National Bank, Wealthsimple, Qtrade, BMO and Webull. Two charge by the share with a minimum: Interactive Brokers (US$0.005 a share, minimum US$1, maximum 1% of the trade value) and moomoo (US$0.0099 a share for commission and platform fee combined, minimum US$1.99). Four bank brokers charge a flat fee per trade: CIBC $6.95, RBC $9.95, and TD and Scotia iTRADE $9.99, which Scotia charges in US dollars.

Where per-share pricing wins and loses. At Interactive Brokers, any order up to 200 shares costs the US$1 minimum (200 x US$0.005 = US$1.00), and 1,000 shares cost US$5.00. moomoo’s US$1.99 minimum covers orders up to 201 shares (201 x US$0.0099 = US$1.9899), and 1,000 shares cost US$9.90. At US$50 a share, Interactive Brokers’ 1% cap does not bind: on 1,000 shares it would be US$500. Both per-share brokers cost more than $0 on every order, but less than the flat bank fees at these sizes.

Yearly totals. Twelve monthly US orders of 40 shares cost $0 at a $0 broker, US$12.00 at Interactive Brokers, US$23.88 at moomoo, $83.40 at CIBC, $119.40 at RBC and $119.88 at TD and Scotia iTRADE. Section 3 prices larger trade counts, and section 7 lists the pass-through fees that apply on top at most brokers.

Commissions in the score. The US commission gives up to 2 of the 5 points in our US sub-score: 2 at $0, 1.5 at $2 or less (Interactive Brokers and moomoo on a 40-share order) and 0 above $2 (the four bank brokers). It also feeds the cost sub-score through the US trade in our active profile. Our investment fee calculator adds up what your broker and funds cost each year.

5. USD Account Brokers: Which Accounts Can Hold US Dollars

A USD account broker lets a registered account hold US dollars alongside Canadian dollars. The table shows, for each registered account type, whether the broker states that it can hold US dollars, and what that costs. Please treat “not stated” as a question to put to the broker before you open an account.

No-fee options. Questrade states that its registered accounts are dual-currency at no charge. National Bank lists no US-dollar fee for its TFSA, RRSP, RRIF, spousal RRSP and LIRA. Desjardins offers US plans for the RRSP, TFSA, LIRA, RRIF and LIF with no fee stated. moomoo says its TFSA and RRSP hold both currencies. TD Easy Trade’s TFSA, RRSP and cash accounts have a US-dollar side with no fee.

Paid options. Wealthsimple charges $10 plus tax a month on Core, or $120 a year before tax, and includes the USD account at $100,000 or more in assets. Qtrade charges US$15 a quarter per account, US$60 a year, unless you have Investor Plus. Two US-dollar registered accounts at Qtrade would cost US$120 a year.

Gaps to know about. No broker here states a US-dollar FHSA except Questrade (registered accounts generally) and Wealthsimple. National Bank, Qtrade and TD Easy Trade say their FHSA is Canadian dollars only. Wealthsimple has no US-dollar RRIF or LIF, which matters when an RRSP converts to a RRIF. Our Wealthsimple USD accounts review covers that product in detail, and the best USD savings accounts page covers US-dollar cash outside a brokerage.

6. US Withholding Tax by Account Type

The treaty rate. The United States taxes dividends that US companies pay to Canadian residents. Article X(2)(b) of the Canada-US tax treaty caps that tax at 15% for an ordinary investor, and the broker withholds it before the dividend reaches your account. To get the treaty rate, your broker needs a valid Form W-8BEN on file. Without one, the rate is 30%.

The retirement exemption. Article XXI(2) of the treaty exempts dividends and interest earned by an arrangement operated exclusively to provide pension or retirement benefits that is generally tax-exempt in Canada. RRSPs, RRIFs and locked-in plans such as LIRAs and LIFs qualify. US-listed securities held directly in them have no US tax withheld on dividends once your broker has the account documented.

Why the TFSA loses out. A TFSA, FHSA and RESP are not retirement arrangements under the treaty, so 15% is withheld. Because Canada does not tax income inside those accounts, there is no Canadian tax to claim the US tax against, and the 15% is gone for good. In a non-registered account you report the gross dividend and claim a foreign tax credit equal to the lesser of the foreign tax paid and the Canadian tax on that income.

The calculator below shows how much of a year’s US dividends the United States keeps in each type of account, with and without a W-8BEN.

What it means for choosing a broker. Every broker applies the same treaty rules, so withholding does not change the ranking. What a broker controls is whether your RRSP can hold US dollars, and at what account fee. Our best RRSP for US stocks and best TFSA for US stocks pages rank brokers for each account, and the guide to US stocks in a TFSA works through the numbers.

7. US Trading Fees Beyond the Commission

“$0 commission” is not “$0 cost”. US exchanges and regulators charge small fees that brokers pass on, and some brokers add their own. They are tiny on most orders, but they appear on your trade confirmation and they explain why a $0 trade can show a few cents of cost.

Sizing the SEC fee. At 0.0000206 times the value, the SEC fee on a US$10,000 sale is US$0.206, and on a US$100,000 sale US$2.06. It applies only when you sell. Webull’s trading activity fee on a 40-share sale is $0.0078 (40 x $0.000195). These amounts rarely change which broker is cheaper.

Per-share pricing. Interactive Brokers and moomoo charge by the share. That favours small share counts. A 40-share order costs US$1.00 at Interactive Brokers (the minimum) and US$1.99 at moomoo (the minimum). Larger share counts cost more: at US$0.005 a share, Interactive Brokers’ fixed rate reaches its US$1 minimum at 200 shares and rises above it after that. At $0-commission brokers, share count does not matter.

Flat-fee banks. CIBC ($6.95), RBC ($9.95), TD ($9.99) and Scotia iTRADE ($9.99, charged in US dollars) charge the same on 1 share or 1,000. On a $500 monthly purchase, a $9.99 commission is about 2% of the order ($9.99 / $500). Each has a way to cut it: TD Easy Trade’s 100 $0-commission trades a year, RBC GoSmart’s 50, Scotia’s banking-package trades and CIBC’s $0 trades for investors aged 18 to 24 with Smart Start chequing.

Partial shares at TD. TD charges US$1.99 for a partial-share order on TD Easy Trade, and $1.99 on TD Direct Investing. On a $50 purchase, that is 3.98% of the order ($1.99 / $50).

8. Fractional Shares, DRIP and US Options

Fractional shares. Many US share prices are high, so fractional shares let a small account own part of a share. Wealthsimple offers thousands of US stocks and ETFs from $1, in real time during market hours. Questrade offers eligible US stocks and ETFs at $0 commission. Interactive Brokers offers US fractional shares on its normal commission schedule. CIBC advertises fractional shares, and TD offers partial shares at $1.99 an order. moomoo states that it does not support fractional shares.

Dividend reinvestment. A DRIP buys more shares with each dividend. Questrade’s has no fee and reinvests fractionally when fractional shares are on. Wealthsimple’s is switched on for a whole account. National Bank and TD reinvest in full shares only. Interactive Brokers charges its standard commission. moomoo does not offer a DRIP. Our best brokers for dividend investing ranking orders the brokers that list a DRIP by our overall score.

US options. Wealthsimple charges US$0 a contract on equity and ETF options and Questrade $0 on US equity options. Wealthsimple charges index options by contract, from US$0.25 to US$1, and US$45 for an early exercise or do-not-exercise instruction; Questrade charges $24.95 to exercise. Interactive Brokers and moomoo charge US$0.65 a contract. For a full ranking on options costs, see the best options trading platforms.

9. Safety and Regulation

CIRO. The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees investment dealers and trading on Canada’s debt and equity marketplaces. Every broker on this list either states that it is a CIRO member or is on the Canadian Investor Protection Fund’s member list, and CIPF member firms are CIRO members.

CIPF coverage. If a member firm fails, CIPF covers missing client securities and cash up to $1,000,000 for all general accounts combined (cash, margin, TFSA and FHSA), a separate $1,000,000 for registered retirement accounts (RRSP, RRIF and LIF) and a separate $1,000,000 for RESPs. It does not cover a fall in market value, unsuitable advice, an issuer’s insolvency or crypto assets. US stocks you hold at a CIPF member count as client property held by that member, so the same limits apply.

CDIC is different. CDIC deposit insurance covers deposits and GICs at member institutions, not stocks or ETFs. Cash in a brokerage account is protected by CIPF if the dealer fails, not by CDIC. Our CIPF vs CDIC guide sets the two protections side by side.

How safety enters the score. The safety sub-score is 4 when a broker states both CIRO and CIPF membership and 3.5 when CIPF membership is confirmed and CIRO membership follows from it, plus 1 point when the broker is owned by a bank or a financial cooperative group. It carries 10% of the US-stocks score, the same as in the overall score.

10. How to Choose a Broker for US Stocks

The best broker for US stocks in Canada is the one with the lowest total cost for how you invest, in the accounts you use. These steps put the published figures above to work.

1. List the accounts you will use. An RRSP gets the treaty exemption on US dividends; a TFSA does not. Decide where your US holdings will sit before you compare brokers.
2. Count your US trades. Write down roughly how many US orders you will place a year and how many shares each. Frequent small orders favour a $0 broker; per-share pricing adds at least US$1 or US$1.99 an order.
3. Check US dollars in those accounts. Use the table in section 5, and note any monthly or quarterly fee for holding US dollars.
4. Price your pattern. Use the cost calculator in section 3 to total commissions and account fees for your own trades.
5. Add commissions for your trade count. Multiply your yearly US trades by the per-trade cost. At 240 trades a year, the gap between $0 and $9.99 is $2,397.60.
6. Check moving costs. Look at the transfer-out fee of the broker you are leaving and the rebate at the one you are joining, in section 11.
7. Open the account and file the W-8BEN. File the form when you open the account so the first dividend is withheld at 15%, not 30%.

A rule of thumb. If you want $0 US trades and US dollars in a TFSA or RRSP with no fee stated, Desjardins, Questrade and National Bank all qualify, and they hold the top three places here. If you want fractional US shares, Wealthsimple, Questrade and Interactive Brokers offer them. If you trade options often, compare contract fees and minimums in section 8. For the head-to-head detail, see Questrade vs Interactive Brokers and Wealthsimple vs Questrade.

11. How to Switch Brokers and Move US Holdings

Transfer in kind. When you move to a new broker, ask for an in-kind transfer: your US stocks move as they are, without being sold. That avoids selling, which in a non-registered account can trigger a capital gain and leaves you out of the market for the days the transfer takes. Please confirm that the receiving account can hold US dollars and US-listed securities before you start.

Registered accounts move directly. A TFSA or RRSP must move broker to broker as a direct transfer. A direct TFSA transfer does not affect your contribution room. Withdrawing and redepositing yourself counts as a new contribution, and the room from the withdrawal comes back only on January 1 of the next year, so you could over-contribute. Our guide on how to transfer an investment account covers the forms.

moomoo charges on CAD and USD holdings separately. Its transfer-out fee applies to Canadian-dollar holdings and again to US-dollar holdings, so a full transfer of an account with both can cost $75 for each, plus sales tax.

Timing around offers. Several rebates depend on a minimum amount, and some promotions also require you to keep the money there for a set period. Questrade’s rebate is ongoing, Wealthsimple’s covers up to $150 per account on transfers of $25,000 or more, and RBC’s needs $15,000 or more. Read the terms before you start the transfer, not after.

12. Common Mistakes When Buying US Stocks

Ignoring the USD account fee. On Wealthsimple Core, a USD account costs $10 a month plus tax, or $120 a year before tax, and Qtrade charges US$15 a quarter per account. Check the fee before you add a US-dollar side to each registered account.

Choosing on commission alone. A $0-commission broker can still charge account, options and transfer fees. Webull adds $0.70 a month per account, Desjardins’ options have an $8.75 minimum, and most brokers charge $150 to transfer out. Add every fee you will actually pay.

Putting high-dividend US holdings in a TFSA by default. The TFSA loses 15% of every US dividend for good. If you have RRSP room, US-listed holdings that pay large dividends keep the full dividend there. Low-dividend holdings lose little in a TFSA. This is a general placement rule, not advice on any security.

Paying flat fees on small orders. A $9.99 commission on a $500 order is about 2% of the order, and TD’s $1.99 partial-share fee is 3.98% of a $50 purchase. If you invest small amounts often, a $0 broker or a bank’s $0 program keeps more of each order invested.

Assuming every account can hold US dollars. Wealthsimple has no US-dollar RRIF or LIF. National Bank, Qtrade and TD Easy Trade keep the FHSA in Canadian dollars. Check the account type in section 5 before you buy.

What You Need and What You Get

10 Strategies to Cut the Cost of US Stocks

Illustrative Example: Putting $20,000 Into US Stocks

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.

• Chartered Professional Accountant, CPA Ontario
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• Writing on tax and registered accounts since 2021
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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)
• Post Graduate Diploma in Business Administration (Finance), 2008
• In financial markets since December 2005
• More than 2,600 published investment articles

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