Best Commission-Free Trading Platforms in Canada for 2026

Commission Free Trading Canada 2026: Ranking at a Glance

The seven brokers that charge $0 on every online Canadian and US stock and ETF trade, in score order. The score is our overall broker score out of 5. Where two brokers share a rounded score, the higher unrounded score is listed first, then the name. The last column names the cost most likely to replace the commission you no longer pay.

Enter how you trade below. The calculator adds commissions, options and unavoidable account fees at every broker we cover, including the per-trade brokers, so you can see whether $0 commissions actually make a broker cheapest for you.

Master Comparison Table: Every Remaining Cost

Type in the search box to filter (for example “USD” or “$150”), or select a column heading to sort. “Not published” means we could not confirm the figure on the broker’s own pages on October 22, 2026; it does not mean the fee is zero. Margin rates shown as prime plus a spread use a 4.45% prime rate.

The 7 Commission-Free Brokers Ranked

Each card lists what the broker charges $0 for, then every cost that remains, so you can see the full price of “commission-free”. Five of the seven have a full WealthScale review linked from their card, and all our broker reviews follow the same scoring rules.

1. How We Ranked Commission-Free Brokers

The entry test. A broker makes this list only if it charges $0 commission on online Canadian and US stock and ETF trades for every client, with no trade limit. That rules out brokers where $0 trading depends on your age, your bank package, a yearly trade allowance or an ETF list. Seven of the 13 brokers we score pass the test.

The order. The seven are ranked by our overall broker score, the same score used on our best online brokers ranking. It weights cost at 35%, account types at 15%, US investing at 15%, cash and margin rates at 10%, platform features at 15% and safety at 10%. Every point value is published on our broker rating methodology page, and no broker pays for a position. Our investing platform comparisons hub lists every ranking built on the same score.

Why cost barely separates $0 brokers. Our cost factor prices an active investor (two Canadian and one US trade a month) and a buy-and-hold investor (one Canadian trade a month) at published commissions plus any yearly account fee. With commissions at $0, six of the seven cost $0 on both profiles and get the full 5.0. Webull’s $8.40 yearly account fee brings its cost score to 4.89.

What decides the order. Because six of the seven score 5.0 on cost and Webull 4.89, the ranking among $0 brokers is decided mostly by account range, US-dollar handling in registered accounts, cash and margin, platform features and safety. Webull’s 1.5 on accounts is the main reason it ranks last. Offers are not scored, and a feature a broker does not publish scores as absent.

2. What Commission-Free Trading Covers, and What It Does Not

The commission is one fee among several. A commission is the broker’s charge for placing your order. “Commission-free” removes that charge on online orders for listed stocks and ETFs. It does not remove the fees exchanges and regulators charge on US trades, the price of options contracts, or the fees for holding and moving an account.

Online only. Every $0 price on this page applies to orders you place yourself on the website or app. A Wealthsimple phone trade costs $45 (waived for Active Trader clients, who make 50 or more manual trades a month), and a Desjardins trade placed by a representative has a $45 minimum. One assisted trade costs more than five years of Webull’s account fee ($45 against 5 x $8.40 = $42.00).

Listed stocks and ETFs only. The $0 price covers exchange-listed shares and ETFs. Mutual funds, bonds, GICs, options and other products follow their own price lists. Before you buy something other than a listed stock or ETF, please check its line on the broker’s fee schedule.

3. Who Charges $0 on What: All 13 Brokers

The full picture. This table shows all 13 brokers we score, including the six that do not qualify for this list, so you can see exactly where each one charges $0. Options prices are for US equity options unless stated.

$0 options at two brokers. Questrade and Wealthsimple are the only brokers of the 13 that charge $0 a contract on US equity options. Questrade still charges CA$0.99 a contract on Canadian options, and Wealthsimple charges between US$0.25 and US$1 a contract on index options.

Desjardins online only. Desjardins’ $0 applies to orders placed through Disnat Classic and Disnat Direct. National Bank’s $0 applies to “all online stock and ETF transactions” with no minimum order size listed, which matters if you buy in small amounts.

BMO’s change. BMO InvestorLine’s pricing page states “unlimited $0 commission trades on Stocks and ETFs” on Canadian and US exchanges. We could not confirm the date the change took effect on any BMO page we opened, so we state only the current price.

4. US Investing and USD Accounts at $0 Brokers

What a $0 broker charges on US trades. All seven charge $0 commission on online US stock and ETF trades. What differs is whether a registered account can hold US dollars, whether that carries an account fee, and which pass-through fees the broker states on US orders (section 5).

Holding US dollars. Questrade holds USD in registered accounts at no cost. National Bank and Desjardins list no fee. Wealthsimple’s USD account costs $10 a month plus tax on Core ($120 a year before tax) and is included from $100,000 in assets. Qtrade charges US$15 a quarter per account (US$60 a year), waived for Investor Plus clients. Our guide on how to buy US stocks in Canada walks through the steps.

US withholding tax by account. With a Form W-8BEN on file, US dividends paid to a TFSA, FHSA or RESP have 15% withheld under the Canada-US tax treaty, and that tax cannot be recovered inside those accounts. RRSPs and RRIFs are exempt under the treaty. In a non-registered account, the 15% can be claimed as a foreign tax credit. Without a W-8BEN, the rate is 30%.

The alternatives. Interactive Brokers charges per-share commissions on US trades (USD 0.005 a share, minimum USD 1), so it is not on this list; see Questrade vs Interactive Brokers for the trade-off. If you buy US shares for income, our best brokers for dividend investing ranking covers the brokers that list a DRIP, and our investment fee calculator adds up what your broker and funds cost each year.

5. Remaining Cost: ECN, Exchange and Regulatory Fees

Fees the broker passes on. Exchanges, electronic communication networks (ECNs) and US regulators charge small fees on some trades. A $0-commission broker can pass these on to you, and they appear on your trade confirmation. They are small on most trades, but they are not zero.

Questrade. Its direct-routing ECN fee of US$0.003 to US$0.004 a share comes to US$3 to US$4 on 1,000 shares. The SEC fee on US sales is 0.0000206 times the sale value, which is $0.206 on a $10,000 sale.

Wealthsimple. Pass-through exchange, ECN, TAF or ORF fees may apply to some US-listed orders and are shown on trade confirmations. The TAF is FINRA’s trading activity fee, and the ORF is the options regulatory fee.

Webull. Regulatory and exchange fees may apply to Canadian trades. On US trades, Webull passes on an ADR custody fee of US$0.01 to US$0.03 a share (US$1 to US$3 on 100 ADR shares), FINRA’s trading activity fee of $0.000195 a share (US$0.195 on 1,000 shares, capped at $9.79) and the SEC fee on sales. ADRs are US-listed shares of foreign companies, so the custody fee applies only if you hold them.

Qtrade, National Bank, BMO and Desjardins. Qtrade charges an SEC-based fee on US sales. National Bank, BMO and Desjardins do not list pass-through fees on the pricing pages we checked, so we cannot say whether or how they apply.

How to limit them. The SEC fee applies only to sales of US securities, so a buy-and-hold investor pays it rarely. Please read your first few trade confirmations to see which fees your trading attracts.

6. Remaining Cost: Options Contracts, Exercise and Assignment

Options are not stocks. The $0 stock and ETF price does not extend to options at five of the seven brokers. Even at the two that charge $0 a contract on US equity options, exercise, assignment and index options carry fees.

Minimums decide small trades. A two-contract trade at $1.25 a contract is $2.50, so National Bank’s $6.25 and Desjardins’ $8.75 minimums set the price. Above five contracts at National Bank (5 x $1.25 = $6.25) and seven at Desjardins (7 x $1.25 = $8.75), the per-contract rate takes over.

Options in registered accounts. At Wealthsimple, registered accounts such as a TFSA or RRSP allow long calls, long puts, secured puts and covered calls; other strategies need a margin account. Options are not available in RBC’s GoSmart, which is one reason it is not a full alternative. Our best options trading platforms ranking scores all 13 brokers on a four-trades-a-month pattern.

7. Remaining Cost: Account and Admin Fees

Holding the account can cost money. Three of the seven brokers charge a recurring account fee in some cases. Webull charges every account every month. National Bank and Desjardins charge below a balance or activity threshold and publish ways to avoid it.

What the fees cost in a year. Webull’s fee is $8.40 a year per account, so a TFSA and an RRSP cost $16.80. National Bank’s $100 is 2% of a $5,000 account. Desjardins’ inactivity fee would be $120 a year (4 x $30) on a non-registered account with few trades and under $15,000, but its published waivers include holding a registered account.

Age waivers. National Bank waives its yearly fee for investors 30 or under, and Desjardins waives its inactivity fee for ages 18 to 30. Desjardins publishes no age waiver for its $100 fee on an RRSP or LIRA under $15,000, so a young investor with a small RRSP still pays it.

8. Remaining Cost: Transfer-Out Fees and Rebates

The fee to leave. Moving an account to another broker usually costs $150 per account at the broker you leave. That fee matters twice: when you join a $0 broker from a bank broker, and if you later leave the $0 broker. Wealthsimple is the only one of the seven that charges $0 to transfer out.

Leaving a bank broker. RBC Direct Investing, TD Direct Investing (and TD Easy Trade) and Scotia iTRADE each charge $150 to transfer out. CIBC’s fee is not published. So a TFSA and an RRSP moving from one of those to a $0 broker cost $300 unless the receiving broker reimburses it.

Per account or per client. Questrade’s rebate is up to $150 per account, so two accounts can get up to $300. Qtrade’s offer is up to $150 per client, so two accounts get $150 in total. Wealthsimple’s reimbursement is up to $150 per account, needs $25,000 or more transferred, and the account must stay funded for 90 days. Keep the statement showing the fee you paid, because a reimbursement may need it.

Registered accounts. A TFSA, RRSP, FHSA or RESP must move by direct transfer, started at the new broker, to stay registered. Withdrawing from a TFSA and redepositing counts as a new contribution and can trigger the 1% monthly tax on excess amounts. Our guide on how to transfer an investment account covers the forms and timing.

9. Costs for Four Investor Profiles

How we priced each profile. Each figure uses the broker’s published standard online price plus account fees, with nothing else added. Every profile includes Webull’s $0.70 monthly fee, which applies at any balance; profiles 2 and 3 also include the USD account and balance-based fees that apply to that investor (section 7 lists every waiver). Pass-through, exercise and assignment fees and promotions are not included. Interactive Brokers is shown under each table for comparison, priced on a 40-share order.

Profile 1: Canadian-only investor (24 Canadian stock or ETF trades a year)

For comparison. Interactive Brokers would charge 24 x $1.00 = $24.00. For this investor, the $0 brokers win unless a balance-based fee applies: at National Bank, a $100 yearly fee below $20,000 (unless 30 or under) would make it the most expensive of the seven.

Profile 2: US investor (12 US trades a year, holding US dollars in one registered account)

For comparison. Interactive Brokers would charge 12 x US$1.00 = US$12.00 in commissions, and its pages do not say whether its registered accounts hold US dollars. Wealthsimple’s USD account is included from $100,000 in assets, which would bring its total to $0.00, and Qtrade waives its fee for Investor Plus clients.

Profile 3: Small RRSP ($5,000, 12 Canadian trades a year)

For comparison. A $100 fee on a $5,000 RRSP is 2% of the balance ($100 / $5,000). National Bank waives its fee for investors aged 30 or under, among other waivers, while Desjardins publishes no age waiver for its RRSP fee. Interactive Brokers would charge 12 x $1.00 = $12.00 with no account fee listed.

Profile 4: Options trader (4 US equity options trades a month, 2 contracts each)

For comparison. Interactive Brokers would charge 2 x US$0.65 = $1.30 a trade, or $62.40 a year. Webull’s figure ignores its three-month introductory $0 period. Exercise and assignment fees are extra (section 6). You can enter your own mix in the cost calculator near the top of this page.

10. Partly Free Brokers: Limited $0 Trades and Per-Share Pricing

Six brokers miss the cut. Interactive Brokers and moomoo charge per share with a minimum, so a small order is never $0. CIBC, RBC, TD and Scotia iTRADE charge a flat fee but offer $0 trading to some clients, for some trades or on some ETFs. If one of those programs fits you, it can cost as little as a $0 broker.

When a program beats a $0 broker. A TD Easy Trade client making 12 trades a year pays $0 in commissions, and TD Easy Trade’s TFSA and RRSP hold USD with no fee. TD Easy Trade sits alongside TD Direct Investing, which charges $9.99 a trade. A CIBC client under 25 with Smart Start gets unlimited $0 trades and no admin fee.

When it does not. Programs have limits a $0 broker does not. RBC GoSmart‘s 50 trades cover about one a week, options are not available in it, and every trade after the 50th costs $9.95. Scotia’s 100 trades depend on holding a Scotiabank Ultimate Package. An ETF list may not include the fund you want.

Per-share brokers. At Interactive Brokers a 40-share order costs the $1 minimum, so 12 trades a year cost $12, against $0 at the seven brokers on this list. moomoo‘s minimum of CA$1.49 or US$1.99 a trade is higher. Both are compared with every other broker on our full ranking of 13 brokers.

11. How a Zero Commission Broker in Canada Earns Money

Follow the published charges. A zero commission broker in Canada still runs a business. We do not know how much each broker earns from each source, but their published price lists show where the money can come from. Knowing this helps you predict which costs you will meet.

Cash you leave uninvested. Questrade’s published formula for interest on cash (CAD prime minus 8.50%) works out to 0%. Qtrade pays 0.00% below $2,000,000 and National Bank pays 0%. Desjardins publishes a formula of prime minus 5.50% on CAD balances under $50,000. Money sitting idle in these accounts earns little or nothing for you.

Margin and debit interest. CAD margin costs prime + 4.25% (8.70%) at Questrade, prime + 3% (7.45%) at Webull, 6.25% at National Bank, prime + 1.55% (6.00%) at Qtrade, prime + 1.25% (5.70%) at Desjardins and 4.95% on Wealthsimple’s Core tier. National Bank charges 21.00% on debit balances in registered and cash accounts. Our lowest margin rates page ranks every broker that publishes a rate.

Paid features and account fees. Wealthsimple charges $10 a month for a USD account on Core, Qtrade US$15 a quarter per USD registered account, and Questrade $19.99 a month for its optional Questrade Plus subscription. Webull charges $0.70 a month per account, and National Bank and Desjardins charge balance-based fees.

Options and other products. Five of the seven charge per options contract, and Wealthsimple charges on index options. Wealthsimple also runs a stock lending program in which clients keep 50% of the lending income.

What this means for you. If you never borrow, keep cash invested and hold a balance above any fee threshold, commission-free trading can cost you close to nothing. Each habit you change from that list adds back one of these costs.

12. Safety and Regulation

All seven are CIPF members. A $0 price does not mean less protection. Each dealer below is on the Canadian Investor Protection Fund’s member list, and CIPF member firms are members of the Canadian Investment Regulatory Organization (CIRO). If a member firm becomes insolvent, CIPF covers missing cash and securities up to $1,000,000 for all general accounts combined (cash, margin, TFSA and FHSA), a separate $1,000,000 for RRSPs, RRIFs and LIFs, and a separate $1,000,000 for RESPs.

What CIPF does not cover. CIPF does not cover a fall in the market value of your investments, unsuitable advice or crypto assets. Wealthsimple and Webull both offer crypto through their apps, and both state that crypto holdings are not CIPF-protected. Stocks, ETFs and cash in your investment accounts are.

Where Webull’s registered plans sit. Webull’s registered-plan and transfer fees are charged by CI Investment Services, which means a second firm is involved with those accounts. If you hold a TFSA or RRSP there, please read the account agreement to see which firm holds the plan.

Our page on whether Wealthsimple is safe works through CIPF and CDIC coverage for one provider in detail, and our CIPF vs CDIC guide explains how the two protections differ.

13. How to Choose a Commission-Free Broker

All seven charge $0 on stock and ETF trades, so choose on the costs and features that remain. Work through these steps.

1. Decide whether you will buy US shares. If you will not, the choice comes down to accounts, account fees and features. If you will, check how each broker handles US dollars in your registered accounts in step 2.
2. Choose how you will hold US dollars. Questrade holds USD in registered accounts at no cost; National Bank and Desjardins list no USD fee; Wealthsimple charges $10 a month on Core; Qtrade charges US$15 a quarter per account.
3. Check the accounts. Webull offers only cash, margin, TFSA and RRSP accounts. If you need an FHSA, RESP, RRIF or LIRA, the other six cover most of them. Our listings of the best TFSA accounts, best RRSP accounts and best FHSA accounts rank only the brokers that offer each one.
4. Check fees against your balance and age. Below $20,000, National Bank charges $100 a year unless you are 30 or under. Below $15,000, a Desjardins RRSP costs $100 a year. Webull charges $8.40 a year per account at any balance.
5. Price options if you trade them. Questrade and Wealthsimple charge $0 a contract on US equity options; National Bank and Desjardins have $6.25 and $8.75 minimums.
6. Plan the transfer. Check your old broker’s transfer-out fee and whether the new broker reimburses it (section 8).

The short version. For US shares in a TFSA or RRSP, Questrade and Desjardins both state USD registered accounts with no fee, and they rank first and second here. For a $0 exit, with $0 options contracts and fractional shares from $1, Wealthsimple fits. For a bank-owned dealer, National Bank (USD registered accounts) or BMO ($0.90 options) fits. These are rankings by published criteria, not advice for your situation. If this is your first account, our best brokers for beginners list weights the features new investors use, and our guide on how to invest in Canada covers what to buy.

14. Common Mistakes With Free Stock Trading in Canada

Treating “free” as free. Free stock trading in Canada means $0 commissions, not $0 costs. A $150 transfer-out fee costs more than 15 trades at a $9.99 broker (15 x $9.99 = $149.85), and Webull’s account fee adds $8.40 a year to every account.

Trading more because it is free. A $0 commission removes a brake on frequent trading. In a TFSA, the Canada Revenue Agency can treat frequent trading as carrying on a business, and that income may then be taxed. Please keep a TFSA for investing rather than day trading.

What You Need and What You Get

8 Strategies to Keep Commission-Free Trading Cheap

Illustrative Example: The Cost of a $0 US Trade

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
• Certified Public Accountant, Washington (No. 57629) and Montana (No. PAC-CPAP-LIC-033176)
• Writing on tax and registered accounts since 2021
• Reader’s Choice Award 2025 Winner, Best Accountant (Toronto)

Read Sharad’s profile and verify his credentials

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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