How We Rate Online Brokers and Robo-Advisors
Our broker rating methodology scores 13 Canadian online brokers out of 5 on six factors, and cost carries the most weight at 35%. Every input is a published price or a yes-or-no feature taken from each provider’s own pages, checked on October 22, 2026. This page prints the whole model: every factor, weight and points rule, the two investor profiles we price, the weights behind each best-of list, and the current score tables for brokers, robo-advisors, crypto platforms, tax software and chequing accounts. Payment from a provider never changes a score. Questrade leads at 4.3 / 5, ahead of Desjardins Online Brokerage (Disnat), also 4.3 / 5, on the unrounded score.
At a glance
What we score. 13 online brokers, 4 robo-advisors (5 more are listed but not ranked), 9 crypto platforms authorized by the Canadian Securities Administrators (CSA), 7 NETFILE-certified tax software products and 20 chequing accounts. Every score is out of 5 and shown to one decimal.
Broker weights. The overall broker score weights cost 35%, account types 15%, US investing 15%, platform 15%, cash and margin rates 10% and safety 10%. Separate weights produce the US stocks, beginners, options, ETF and active-trader scores.
How cost is measured. We price two investor profiles in a TFSA holding $20,000 at each broker’s published prices: an active profile (two Canadian trades and one US trade a month) and a buy-and-hold profile (one Canadian trade a month). Each profile counts commissions plus any yearly account fee. The cost score is 5 minus the average yearly cost divided by $80.
What never affects a score. Payment of any kind, advertising, affiliate status, sign-up bonuses and limited-time promotions. WealthScale has no paid or affiliate links today, and a future partnership could not change a score, a rank or who is listed.
Lists sorted by a stated figure. The margin rate list and the savings, USD savings and GIC rate tables are sorted by the figure they name, not by score.
When scores change. We recalculate a score when a provider changes a price, rate or feature that feeds the model. The current scores use figures checked on October 22, 2026.
Tick the features you need in the tool below and it lists every broker that offers them, ranked by the overall score explained on this page.
1. Broker Rating Methodology: The Rules Behind Every Score
Published figures only. Every input in the model is a price, rate or yes-or-no feature that the provider publishes on its own pricing, account or help pages, or an entry on a regulator’s list: the Canadian Investor Protection Fund (CIPF) member list, the Canadian Investment Regulatory Organization (CIRO) dealer directory, the CSA list of authorized crypto trading platforms and the Canada Revenue Agency’s NETFILE certified-software list. All of them were checked on October 22, 2026. We do not use estimates, sales calls or figures recalled from earlier years.
One model for every provider. Each broker is priced with the same two investor profiles and given points by the same rules. There are no hand adjustments, editor’s picks or bonus points. A rank is the result of arithmetic you can repeat yourself from the tables on this page, and our calculators use the same published prices.
Unknowns are not guessed. When a provider does not publish something, we do not fill the gap. A feature its own pages do not mention scores zero until it is confirmed. A fee that is not stated earns the lower “not stated” points. A margin rate that is not published earns the lowest margin points. A provider can always raise its score by publishing a better price.
What we never use. Scores ignore whether a provider pays WealthScale, through an affiliate link, advertising, sponsorship or any other partnership. They also ignore sign-up bonuses and limited-time promotions, which end, and app-store ratings or social media popularity, which we cannot verify. WealthScale has no paid or affiliate links today. Partner applications are in progress, and if partner links are added they will be labelled and will never change inclusion, scores or order. Our page on how WealthScale makes money explains this in full.
General information, not advice. A score compares the published terms of a provider. It does not say which investments to buy, and it cannot know your balance, trading habits or tax position. Use the scores to build a short list, then read the review and check the costs for your own pattern. Our editorial standards explain who writes and reviews each page and how figures are sourced.
2. The Six Broker Factors and Their Weights
The overall score. Each broker gets a sub-score from 0 to 5 on six factors. The overall score is the weighted average of those six sub-scores. Cost carries the most weight because it is the one factor every investor pays every year, whatever they hold. The table below is the full model in one view; the sections that follow give the exact points rules and every broker’s points.
| Factor | Weight | What it measures | How points are given |
|---|---|---|---|
| Cost | 35% | Yearly cost of two investor profiles at published prices | 5 minus the average yearly cost divided by $80, kept between 0 and 5 |
| Accounts | 15% | How many of 10 common account types the broker offers | Half a point for each account type |
| US investing | 15% | USD in registered accounts and the US commission | Up to 3 points and 2 points |
| Cash and margin | 10% | CAD margin rate under $100,000 and interest on uninvested cash | Up to 2.5 points for each |
| Platform | 15% | Fractional shares, DRIP, options, an advanced platform and a mobile app | One point for each feature |
| Safety | 10% | CIRO and CIPF membership, and ownership by a bank or co-operative group | 4 or 3.5 points, plus 1 point, up to 5 |
Accounts: the rule. A broker earns half a point for each of 10 account types: TFSA, RRSP, spousal RRSP, FHSA, RESP, RRIF, LIRA or LIF, margin, joint and corporate. All 10 earn the full 5 points. We count an account only when the broker’s own pages list it. A broker that offers an account but does not show it on the pages we checked loses that half point until it is confirmed, which is why a few large brokers score below 5.
Why accounts matter. Keeping your TFSA, RRSP and FHSA at one broker makes transfers, contribution tracking and rebalancing simpler. A broker without an RESP or a LIRA forces a second login and sometimes a second set of fees. The account lists on our best TFSA accounts, best FHSA accounts and best RESP providers pages use the same yes-or-no data shown here.
| Broker | TFSA | RRSP | Spousal RRSP | FHSA | RESP | RRIF | LIRA or LIF | Margin | Joint | Corporate | Points |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Questrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | 10 x 0.5 = 5 |
| Desjardins Online Brokerage | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes | 9 x 0.5 = 4.5 |
| Interactive Brokers | Yes | Yes | Yes | Yes | No | Yes | No | Yes | Yes | Yes | 8 x 0.5 = 4 |
| Wealthsimple | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | 10 x 0.5 = 5 |
| National Bank Direct Brokerage | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes | 9 x 0.5 = 4.5 |
| Qtrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | 10 x 0.5 = 5 |
| BMO InvestorLine | Yes | Yes | No | Yes | Yes | Yes | Yes | Yes | Yes | Yes | 9 x 0.5 = 4.5 |
| moomoo | Yes | Yes | Yes | No | No | No | No | Yes | No | No | 4 x 0.5 = 2 |
| Webull | Yes | Yes | No | No | No | No | No | Yes | No | No | 3 x 0.5 = 1.5 |
| CIBC Investor’s Edge | Yes | Yes | No | Yes | Yes | Yes | Yes | Yes | Yes | Yes | 9 x 0.5 = 4.5 |
| RBC Direct Investing | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | 10 x 0.5 = 5 |
| Scotia iTRADE | Yes | Yes | No | Yes | Yes | Yes | Yes | Yes | No | Yes | 8 x 0.5 = 4 |
| TD Direct Investing | Yes | Yes | No | Yes | No | No | No | Yes | No | No | 4 x 0.5 = 2 |
Reading the accounts table. Wealthsimple, Questrade, Qtrade Direct Investing and RBC Direct Investing list all 10 types. Interactive Brokers Canada does not describe an RESP or a LIRA on the pages we checked, so it scores 4. moomoo Canada states that FHSA, RESP, joint and corporate accounts are not available, and Webull Canada lists cash, margin, TFSA and RRSP accounts only.
3. How We Measure Cost: Two Investor Profiles, Step by Step
Why profiles, not headline prices. A “$0 commission” broker can still charge a yearly account fee, and a per-share broker can cost more for someone who trades small orders often. Pricing a realistic pattern of trades at every broker shows what a year actually costs. Both profiles are hypothetical investors; the prices are each broker’s published standard prices for a self-directed account as of October 22, 2026.
The active profile. A TFSA holding $20,000. Each month the investor places two Canadian stock or ETF trades and one US trade, which is 36 trades a year. Yearly cost = 12 x (2 x the Canadian commission + 1 x the US commission) + any recurring account fee that cannot be avoided at this balance.
The buy-and-hold profile. The same $20,000 TFSA, with one Canadian trade a month. Yearly cost = 12 x the Canadian commission + any recurring account fee. This profile rewards brokers that charge nothing to buy Canadian-listed ETFs and nothing to hold an account.
Assumptions we hold fixed. Every trade is a $2,000 order of 40 shares, which matters for brokers that charge per share: Interactive Brokers Canada’s CAD 0.01 a share comes to $0.40 on 40 shares, so its CAD 1 minimum applies. Each commission is counted at its published amount. We leave out ECN, exchange and regulatory pass-through fees, promotional pricing, free-trade allowances tied to age or a banking package, and active-trader discounts.
The formula. Cost score = 5 minus (the average of the two yearly costs divided by $80), kept between 0 and 5. Each $80 of average yearly cost takes one point off, so an average of $400 or more scores 0. Sub-scores are kept to two decimals. The table shows every broker’s arithmetic in full, in overall rank order.
| Broker | Active profile: commissions and account fees | Buy-and-hold profile | Average yearly cost | Cost score |
|---|---|---|---|---|
| Questrade | 12 x (2 x $0 + $0) = $0.00 | 12 x $0 = $0.00 | ($0.00 + $0.00) / 2 = $0.00 | 5 minus $0.00 / $80 = 5.00 |
| Desjardins Online Brokerage | 12 x (2 x $0 + $0) = $0.00 | 12 x $0 = $0.00 | ($0.00 + $0.00) / 2 = $0.00 | 5 minus $0.00 / $80 = 5.00 |
| Interactive Brokers | 12 x (2 x $1.00 + $1.00) = $36.00 | 12 x $1.00 = $12.00 | ($36.00 + $12.00) / 2 = $24.00 | 5 minus $24.00 / $80 = 4.70 |
| Wealthsimple | 12 x (2 x $0 + $0) = $0.00 | 12 x $0 = $0.00 | ($0.00 + $0.00) / 2 = $0.00 | 5 minus $0.00 / $80 = 5.00 |
| National Bank Direct Brokerage | 12 x (2 x $0 + $0) = $0.00 | 12 x $0 = $0.00 | ($0.00 + $0.00) / 2 = $0.00 | 5 minus $0.00 / $80 = 5.00 |
| Qtrade | 12 x (2 x $0 + $0) = $0.00 | 12 x $0 = $0.00 | ($0.00 + $0.00) / 2 = $0.00 | 5 minus $0.00 / $80 = 5.00 |
| BMO InvestorLine | 12 x (2 x $0 + $0) = $0.00 | 12 x $0 = $0.00 | ($0.00 + $0.00) / 2 = $0.00 | 5 minus $0.00 / $80 = 5.00 |
| moomoo | 12 x (2 x $1.49 + $1.99) = $59.64 | 12 x $1.49 = $17.88 | ($59.64 + $17.88) / 2 = $38.76 | 5 minus $38.76 / $80 = 4.52 |
| Webull | 12 x (2 x $0 + $0) = $0.00; account fee $0.70 x 12 = $8.40. Total $8.40 | 12 x $0 = $0.00 + $8.40 account fee = $8.40 | ($8.40 + $8.40) / 2 = $8.40 | 5 minus $8.40 / $80 = 4.895, which our scoring file rounds to two decimals as 4.89 |
| CIBC Investor’s Edge | 12 x (2 x $6.95 + $6.95) = $250.20 | 12 x $6.95 = $83.40 | ($250.20 + $83.40) / 2 = $166.80 | 5 minus $166.80 / $80 = 2.92 |
| RBC Direct Investing | 12 x (2 x $9.95 + $9.95) = $358.20 | 12 x $9.95 = $119.40 | ($358.20 + $119.40) / 2 = $238.80 | 5 minus $238.80 / $80 = 2.02 |
| Scotia iTRADE | 12 x (2 x $9.99 + $9.99) = $359.64 | 12 x $9.99 = $119.88 | ($359.64 + $119.88) / 2 = $239.76 | 5 minus $239.76 / $80 = 2.00 |
| TD Direct Investing | 12 x (2 x $9.99 + $9.99) = $359.64 | 12 x $9.99 = $119.88 | ($359.64 + $119.88) / 2 = $239.76 | 5 minus $239.76 / $80 = 2.00 |
Which account fees count. A fee counts only when every investor in the profile would pay it. Webull Canada’s administration fee of $0.70 a month per account ($8.40 a year) is the one recurring fee that applies. National Bank Direct Brokerage’s $100 yearly fee per account root is waived with $20,000 or more in eligible assets, so the $20,000 profile does not pay it. Optional fees, such as Wealthsimple’s $10 a month for a US-dollar account on Core or Qtrade Direct Investing’s US$15 a quarter, are scored in the US investing factor instead.
What the cost table shows. Six brokers cost $0.00 in both profiles and earn the full 5 points: Questrade, Desjardins Online Brokerage, Wealthsimple, National Bank Direct Brokerage, Qtrade Direct Investing and BMO InvestorLine. Webull Canada’s only cost is its $8.40 administration fee. Interactive Brokers Canada and moomoo Canada charge per share and average $24.00 and $38.76 a year. The four brokers that still charge $6.95 or more a trade average $166.80 or more a year. You can enter your own trading pattern in the yearly cost calculator on our compare online brokers page, or add fund and robo-advisor fees with the investment fee calculator.
4. US Investing, Cash and Margin Points
US investing: two parts, up to 5 points. First, US dollars in registered accounts: 3 points when a broker offers USD in its TFSA, RRSP or other registered accounts with no fee, 1.5 points when a fee applies, and 0.75 when it is not stated. Second, the US commission on our 40-share order: 2 points at $0, 1.5 at $2 or less and 0 above $2.
Why USD accounts carry the most points. Many investors hold US-listed shares in a TFSA or RRSP, so whether those accounts can hold US dollars, and for what account fee, is the US feature that differs most between brokers. The points follow what each broker publishes: Wealthsimple charges $10 a month on Core (included on Premium and Generation) and Qtrade Direct Investing US$15 a quarter per account (free with Investor Plus), so each earns 1.5. Our guide to US stocks in a TFSA explains the US withholding tax that applies to dividends in each account type.
| Broker | USD in registered accounts | US commission on a 40-share order | US sub-score |
|---|---|---|---|
| Questrade | Yes, no fee (3) | $0 (2) | 5 |
| Desjardins Online Brokerage | Yes, no fee stated (3) | $0 (2) | 5 |
| Interactive Brokers | Not stated (0.75) | US$1 minimum (1.5) | 2.25 |
| Wealthsimple | Yes, $10 a month on Core (1.5) | $0 (2) | 3.5 |
| National Bank Direct Brokerage | Yes, no fee listed (3) | $0 (2) | 5 |
| Qtrade | Yes, US$15 a quarter (free with Investor Plus) (1.5) | $0 (2) | 3.5 |
| BMO InvestorLine | Not stated (0.75) | $0 (2) | 2.75 |
| moomoo | Yes, no fee stated (3) | US$1.99 minimum (1.5) | 4.5 |
| Webull | Not stated (0.75) | $0 (2) | 2.75 |
| CIBC Investor’s Edge | Not stated (0.75) | $6.95 (0) | 0.75 |
| RBC Direct Investing | Pricing not stated (0.75) | $9.95 (0) | 0.75 |
| Scotia iTRADE | Yes (RRSP and RRIF), no fee listed (3) | $9.99 (0) | 3 |
| TD Direct Investing | Not stated for TD Direct Investing (0.75) | $9.99 (0) | 0.75 |
Cash and margin: two parts, up to 5 points. The CAD margin rate on a loan under $100,000 earns 2.5 points at 4% or less, 2 at up to 5%, 1.5 at up to 6%, 1 at up to 6.5%, and 0.5 above 6.5% or when no rate is published. The headline interest rate on uninvested CAD cash earns 2.5 points at 1% or more, 1 point above 0% and 0 otherwise; a rate paid only on balances above $1,000,000 is not counted. Rates set as prime plus a margin are worked out with the 4.45% prime rate in effect since October 30, 2025.
| Broker | CAD margin rate | Margin points | Interest on uninvested cash | Cash points | Sub-score |
|---|---|---|---|---|---|
| Questrade | Prime + 4.25%, 8.70% | 0.5 | 0% or not published | 0 | 0.5 |
| Desjardins Online Brokerage | Prime + 1.25%, 5.70% | 1.5 | 0% or not published | 0 | 1.5 |
| Interactive Brokers | 3.675% | 2.5 | 1.675% on CAD above CAD 13,000 | 2.5 | 5 |
| Wealthsimple | 4.95% (Core) | 2 | 0% or not published | 0 | 2 |
| National Bank Direct Brokerage | 6.25% | 1 | 0% or not published | 0 | 1 |
| Qtrade | Prime + 1.55%, 6.00% | 1.5 | 0% or not published | 0 | 1.5 |
| BMO InvestorLine | Not published | 0.5 | 0% or not published | 0 | 0.5 |
| moomoo | From 3.85% | 2.5 | 0% or not published | 0 | 2.5 |
| Webull | Prime + 3%, 7.45% | 0.5 | 0% or not published | 0 | 0.5 |
| CIBC Investor’s Edge | 6.25% | 1 | 0% or not published | 0 | 1 |
| RBC Direct Investing | Not published | 0.5 | 0% or not published | 0 | 0.5 |
| Scotia iTRADE | Prime + 1.65%, 6.10% | 1 | 0% or not published | 0 | 1 |
| TD Direct Investing | Not published | 0.5 | 0% or not published | 0 | 0.5 |
Reading the margin points. Interactive Brokers Canada is the only broker with full marks: 3.675% on CAD margin up to CAD 130,000 and 1.675% on CAD cash above CAD 13,000. Its full cash rate applies only when the account’s net asset value is above USD 100,000, which a $20,000 investor would not meet, but the rule scores the published rate. TD Direct Investing, RBC Direct Investing and BMO InvestorLine do not publish a margin rate on the pages we could open, so each earns 0.5.
See how these points add up to a ranking, then compare the top brokers on the costs that matter to you.
5. Platform, Beginner, Safety and Options Points
Platform: one point per feature. A broker earns one point each for fractional shares, a dividend reinvestment plan (DRIP), options trading, an advanced trading platform and a mobile app, up to 5. It earns half a point where a feature is only partly offered or not named, for example a mobile app reached only through a bank’s banking app, or advanced platforms the broker does not name. A feature the broker’s own pages do not mention scores 0.
Beginner platform: a separate sub-score. Used only in the beginners score, it gives 1.5 points for fractional shares, 1.5 for a mobile app (0.75 where the app is only partly confirmed), 1 for a DRIP and 1 for no account minimum (0.5 where the minimum is not stated). Fractional shares and an app carry the most weight because they let a new investor start with small amounts from a phone.
Safety: membership first, then ownership. A broker earns 4 points when its own pages state that it is a member of both CIRO and CIPF. It earns 3.5 when CIPF’s member list confirms its membership and CIRO membership follows from that, because CIPF covers CIRO dealer members, but the broker’s pages we checked do not say so. One more point is added when the broker is owned by a bank or a financial co-operative group, up to a maximum of 5. CIPF protects client property held by an insolvent member firm, up to $1,000,000 for general accounts, $1,000,000 for retirement accounts and $1,000,000 for RESPs. It does not cover market losses. Our guide to CIPF vs CDIC explains how this differs from deposit insurance on bank accounts and GICs.
| Broker | Fractional shares | DRIP | Options | Advanced platform | Mobile app | Platform sub-score | Beginner platform | Safety (base + bank or co-op) |
|---|---|---|---|---|---|---|---|---|
| Questrade | 1 | 1 | 1 | 1 | 0.5 | 4.5 | 3.75 | 3.5 + 0 = 3.5 |
| Desjardins Online Brokerage | 0 | 0 | 1 | 1 | 1 | 3 | 2.5 | 4 + 1 = 5 |
| Interactive Brokers | 1 | 1 | 1 | 1 | 1 | 5 | 5 | 4 + 0 = 4 |
| Wealthsimple | 1 | 1 | 1 | 0 | 1 | 4 | 5 | 4 + 0 = 4 |
| National Bank Direct Brokerage | 0 | 1 | 1 | 0.5 | 0.5 | 3 | 2.75 | 3.5 + 1 = 4.5 |
| Qtrade | 0 | 1 | 1 | 0 | 1 | 3 | 3.5 | 4 + 0 = 4 |
| BMO InvestorLine | 0 | 0 | 1 | 1 | 1 | 3 | 2.5 | 4 + 1 = 5 |
| moomoo | 0 | 0 | 1 | 1 | 1 | 3 | 2.5 | 4 + 0 = 4 |
| Webull | 0 | 0 | 1 | 1 | 1 | 3 | 2.5 | 4 + 0 = 4 |
| CIBC Investor’s Edge | 1 | 0 | 1 | 0 | 1 | 3 | 4 | 3.5 + 1 = 4.5 |
| RBC Direct Investing | 0 | 1 | 1 | 1 | 1 | 4 | 3.5 | 4 + 1 = 5 |
| Scotia iTRADE | 0 | 0 | 1 | 0.5 | 0.5 | 2 | 1.25 | 4 + 1 = 5 |
| TD Direct Investing | 1 | 1 | 1 | 1 | 1 | 5 | 4.5 | 3.5 + 1 = 4.5 |
Options cost: priced for the options score. The options score uses a third profile: four US equity options trades a month, each for two contracts, which is 48 trades a year. Cost per trade = the base commission plus the per-contract fee times two, or the broker’s minimum if that is higher. Options cost score = 5 minus the yearly cost divided by $120, kept between 0 and 5. Exercise, assignment and exchange fees are not included.
| Broker | Published US options pricing | Cost per 2-contract trade | Yearly cost | Options cost score |
|---|---|---|---|---|
| Questrade | $0 on US equity options | $0.00 | 48 x $0.00 = $0.00 | 5.00 |
| Wealthsimple | $0 per contract on US equity and ETF options | $0.00 | 48 x $0.00 = $0.00 | 5.00 |
| Interactive Brokers | US$0.65 per contract, minimum US$1 | $1.30 | 48 x $1.30 = $62.40 | 4.48 |
| moomoo | US$0.65 per contract, minimum US$1 | $1.30 | 48 x $1.30 = $62.40 | 4.48 |
| Qtrade | $0.75 per contract | $1.50 | 48 x $1.50 = $72.00 | 4.40 |
| BMO InvestorLine | $0.90 per contract | $1.80 | 48 x $1.80 = $86.40 | 4.28 |
| Webull | US$0.99 per contract | $1.98 | 48 x $1.98 = $95.04 | 4.21 |
| National Bank Direct Brokerage | $1.25 per contract, minimum $6.25 | $6.25 | 48 x $6.25 = $300.00 | 2.50 |
| Desjardins Online Brokerage | $1.25 per contract, minimum $8.75 | $8.75 | 48 x $8.75 = $420.00 | 1.50 |
| CIBC Investor’s Edge | $6.95 + $1.25 per contract | $9.45 | 48 x $9.45 = $453.60 | 1.22 |
| RBC Direct Investing | $9.95 + $1.25 per contract | $12.45 | 48 x $12.45 = $597.60 | 0.02 |
| Scotia iTRADE | $9.99 + $1.25 per contract | $12.49 | 48 x $12.49 = $599.52 | 0.00 |
| TD Direct Investing | $9.99 + $1.25 per contract | $12.49 | 48 x $12.49 = $599.52 | 0.00 |
What the options table shows. Questrade and Wealthsimple charge $0 on US equity options, so both score 5. Brokers with a $9.95 or $9.99 base commission pay close to $600 a year on this pattern and score at or near 0. Our best options trading platforms list ranks brokers on the full options score, not on this cost alone.
6. Category Weights and Which Score Ranks Each List
Six weighted broker scores. The same sub-scores feed six broker scores: overall, US stocks, beginners, options, ETF and active trader. Only the weights change, so a broker’s points never differ from one list to the next; what changes is how much each factor counts.
| Factor | Overall score | US stocks score | Beginners score | Options score | ETF score | Active trader score |
|---|---|---|---|---|---|---|
| Cost | 35% | 25% | 35% | Not used | 40% | 30% |
| Accounts | 15% | 10% | 15% | 5% | 15% | Not used |
| US investing | 15% | 40% | 5% | Not used | 5% | 5% |
| Cash and margin | 10% | 5% | Not used | 10% | Not used | 20% |
| Platform | 15% | 10% | Not used | 25% | Not used | Not used |
| Beginner platform | Not used | Not used | 25% | Not used | Not used | Not used |
| ETF platform | Not used | Not used | Not used | Not used | 25% | Not used |
| Active trading platform | Not used | Not used | Not used | Not used | Not used | 20% |
| Safety | 10% | 10% | 20% | 10% | 15% | 10% |
| Options cost | Not used | Not used | Not used | 50% | Not used | 15% |
| Total | 100% | 100% | 100% | 100% | 100% | 100% |
US stocks score. US investing rises to 40% and cost falls to 25%, because an investor who buys mostly US-listed shares pays the US commission on nearly every trade and needs registered accounts that can hold US dollars. Accounts, platform and safety each count 10%, and cash and margin 5%. This score ranks our best brokers for US stocks, best TFSA for US stocks and best RRSP for US stocks lists.
Beginners score. Cost keeps its 35%, the beginner platform sub-score takes 25%, safety rises to 20%, accounts stay at 15% and US investing drops to 5%. Cash and margin is not used, because borrowing to invest is rarely part of a first account. This score ranks the best brokers for beginners and, limited to brokers with a mobile app named on their own pages, the best investing apps.
Options score. Options cost takes 50%, platform 25%, cash and margin 10%, safety 10% and accounts 5%. Regular stock commissions are left out, since the options list is for people whose main cost is per-contract fees.
ETF score (added October 23, 2026). Cost takes 40%, the ETF platform sub-score 25%, accounts 15%, safety 15% and US investing 5%. The ETF platform sub-score gives 2 points for a DRIP, 1.5 for fractional shares, 1 for a mobile app and 0.5 for an advanced trading platform (half points where a feature is only partly offered), because an ETF investor who buys every month gains most from reinvested distributions and from buying in dollar amounts. This score ranks the best brokers for ETFs, and, limited to brokers that offer the account, the best TFSA for ETFs and best RRSP for ETFs lists.
Active trader score (added October 23, 2026). Cost takes 30%, cash and margin 20%, the active trading platform sub-score 20%, options cost 15%, safety 10% and US investing 5%. The active trading platform sub-score gives 2.5 points for an advanced trading platform, 1.5 for options trading and 1 for a mobile app. This score ranks the best trading platforms for active traders.
| Broker | ETF platform sub-score | ETF score | Unrounded | Active trading platform sub-score | Active trader score | Unrounded |
|---|---|---|---|---|---|---|
| Questrade | 4.5 | 4.7 / 5 | 4.650 | 4.5 | 3.9 / 5 | 3.850 |
| Desjardins Online Brokerage (Disnat) | 1.5 | 4.0 / 5 | 4.050 | 5 | 3.8 / 5 | 3.775 |
| Interactive Brokers Canada | 5 | 4.4 / 5 | 4.442 | 5 | 4.6 / 5 | 4.595 |
| Wealthsimple | 4.5 | 4.7 / 5 | 4.650 | 2.5 | 3.7 / 5 | 3.725 |
| National Bank Direct Brokerage | 2.75 | 4.3 / 5 | 4.287 | 3.25 | 3.4 / 5 | 3.425 |
| Qtrade Direct Investing | 3 | 4.3 / 5 | 4.275 | 2.5 | 3.5 / 5 | 3.535 |
| BMO InvestorLine | 1.5 | 3.9 / 5 | 3.938 | 5 | 3.9 / 5 | 3.880 |
| moomoo Canada | 1.5 | 3.3 / 5 | 3.308 | 5 | 4.2 / 5 | 4.153 |
| Webull Canada | 1.5 | 3.3 / 5 | 3.293 | 5 | 3.7 / 5 | 3.736 |
| CIBC Investor’s Edge | 2.5 | 3.2 / 5 | 3.180 | 2.5 | 2.2 / 5 | 2.247 |
| RBC Direct Investing | 3.5 | 3.2 / 5 | 3.220 | 5 | 2.2 / 5 | 2.247 |
| Scotia iTRADE | 0.75 | 2.5 / 5 | 2.487 | 3.25 | 2.1 / 5 | 2.100 |
| TD Direct Investing | 5 | 3.1 / 5 | 3.062 | 5 | 2.2 / 5 | 2.188 |
Account lists: TFSA, RRSP, FHSA, RESP, RRIF and LIRA. These lists have no weights of their own. Each uses the overall score, limited to brokers whose own pages list that account. For example, 11 brokers list an FHSA and 9 list an RESP, so those pages rank 11 and 9 brokers. The best RRSP accounts, best RRIF accounts, best LIRA accounts and best self-directed RESP accounts pages work the same way. The best commission-free brokers list also uses the overall score, limited to the 7 brokers that charge $0 on both Canadian and US stocks and ETFs, and the best brokers for dividend investing list uses it for the 7 brokers whose own pages list a DRIP.
| List page | Ordered by | Who is included | Providers listed |
|---|---|---|---|
| Best online brokers | Overall score | All 13 brokers | 13 |
| Best brokers for US stocks | US stocks score | All 13 brokers | 13 |
| Best brokers for beginners | Beginners score | All 13 brokers | 13 |
| Best options trading platforms | Options score | All 13 brokers | 13 |
| Best commission-free brokers | Overall score | $0 commission on both Canadian and US stocks and ETFs | 7 |
| Best investing apps | Beginners score | Brokers with a mobile app named on their own pages | 10 |
| Best brokers for dividend investing | Overall score | Brokers that list a dividend reinvestment plan (DRIP) | 7 |
| Best TFSA accounts | Overall score | Brokers that offer a TFSA | 13 |
| Best RRSP accounts | Overall score | Brokers that offer an RRSP | 13 |
| Best FHSA accounts | Overall score | Brokers that offer an FHSA | 11 |
| Best RESP providers and best self-directed RESP | Overall score | Brokers that offer an RESP | 9 |
| Best RRIF accounts | Overall score | Brokers that offer a RRIF | 10 |
| Best LIRA accounts | Overall score | Brokers that offer a LIRA or LIF | 9 |
| Best TFSA for US stocks | US stocks score | Brokers that offer a TFSA | 13 |
| Best RRSP for US stocks | US stocks score | Brokers that offer an RRSP | 13 |
| Best brokers for ETFs | ETF score | All 13 brokers | 13 |
| Best brokers for fractional shares | Overall score | Brokers that offer fractional shares | 5 |
| Best trading platforms for active traders | Active trader score | All 13 brokers | 13 |
| Best TFSA for beginners | Beginners score | Brokers that offer a TFSA | 13 |
| Best TFSA for ETFs | ETF score | Brokers that offer a TFSA | 13 |
| Best RRSP for ETFs | ETF score | Brokers that offer an RRSP | 13 |
| Best joint investment accounts | Overall score | Brokers that offer joint accounts | 7 |
| Best corporate investment accounts | Overall score | Brokers that offer corporate accounts | 10 |
| Best robo-advisors for a TFSA | Robo-advisor score | Ranked robo-advisors that offer a TFSA | 4 |
| Best robo-advisors for an RRSP | Robo-advisor score | Ranked robo-advisors that offer an RRSP | 4 |
| Lowest margin rates | Sorted by CAD margin rate under $100,000, not by score | Brokers that publish a rate; the rest are listed separately | 10 |
| Best robo-advisors | Robo-advisor score | Robo-advisors that publish both fees and fund costs | 4 |
| Best crypto platforms | Crypto score | Platforms on the CSA list of authorized crypto trading platforms | 9 |
| Best tax software | Tax software score | NETFILE-certified products for the 2025 tax year | 7 |
| Best chequing accounts | Chequing score | All 20 chequing accounts we track | 20 |
| Best no-fee chequing accounts | Chequing score | Accounts with a $0 monthly fee, or one waived by deposits | 8 |
| High-interest savings, USD savings and GIC rates | Sorted by interest rate, not by score | Products with a published rate | Varies by rate table |
A list sorted by a stated figure, not by score. One broker list answers a single question, so it is sorted by that one figure: our lowest margin rates list is sorted by the CAD margin rate on a loan under $100,000. Brokers that do not publish the rate are listed after the others without a rank. Where two brokers show the same rate, as National Bank Direct Brokerage and CIBC Investor’s Edge do at 6.25%, they are tied, and the order between them carries no meaning.
| Order | Broker | Published rate | Rate used |
|---|---|---|---|
| 1 | Interactive Brokers Canada | 3.675% up to CAD 130,000 (IBKR Pro) | 3.675% |
| 2 | moomoo Canada | From 3.85% (as of November 3, 2025) | 3.85% |
| 3 | Wealthsimple | 4.95% Core, 4.45% Premium, 3.95% Generation | 4.95% |
| 4 | Desjardins Online Brokerage (Disnat) | Prime + 1.25% under $100,000 (5.70%) | 5.7% |
| 5 | Qtrade Direct Investing | Prime + 1.55% under $100,000 (6.00%) | 6% |
| 6 | Scotia iTRADE | Prime + 1.65% under $25,000 (6.10%) | 6.1% |
| 7 | National Bank Direct Brokerage | 6.25% | 6.25% |
| 8 | CIBC Investor’s Edge | 6.25% under $100,000 | 6.25% |
| 9 | Webull Canada | Prime + 3% under $100,000 (7.45%) | 7.45% |
| 10 | Questrade | Prime + 4.25% under $100,000 (8.70%) | 8.7% |
| Not ranked | TD Direct Investing | Not published | Not published |
| Not ranked | RBC Direct Investing | Not published | Not published |
| Not ranked | BMO InvestorLine | Not published | Not published |
Savings and GIC rates. Our high-interest savings accounts, USD savings accounts and GIC rates pages are sorted by the interest rate, highest first, with the date each rate was checked and the deposit insurance that applies. They carry no score, because the rate is what a saver is choosing on. The chequing lists are the only banking lists ranked by a score.
7. Current Broker Scores
The full table. These are the overall scores and the six sub-scores for every broker we rate, using published prices as of October 22, 2026. The overall score is shown to one decimal, the way it appears across WealthScale, and the unrounded figure beside it decides the order when two brokers show the same score. Brokers without a review link are scored with the same rules; we have not yet published a full review of them.
| Rank | Broker | Overall score | Unrounded | Cost | Accounts | US investing | Cash and margin | Platform | Safety |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Questrade | 4.3 / 5 | 4.325 | 5.00 | 5 | 5 | 0.5 | 4.5 | 3.5 |
| 2 | Desjardins Online Brokerage (Disnat) | 4.3 / 5 | 4.275 | 5.00 | 4.5 | 5 | 1.5 | 3 | 5 |
| 3 | Interactive Brokers Canada | 4.2 / 5 | 4.232 | 4.70 | 4 | 2.25 | 5 | 5 | 4 |
| 4 | Wealthsimple | 4.2 / 5 | 4.225 | 5.00 | 5 | 3.5 | 2 | 4 | 4 |
| 5 | National Bank Direct Brokerage | 4.2 / 5 | 4.175 | 5.00 | 4.5 | 5 | 1 | 3 | 4.5 |
| 6 | Qtrade Direct Investing | 4.0 / 5 | 4.025 | 5.00 | 5 | 3.5 | 1.5 | 3 | 4 |
| 7 | BMO InvestorLine | 3.8 / 5 | 3.837 | 5.00 | 4.5 | 2.75 | 0.5 | 3 | 5 |
| 8 | moomoo Canada | 3.7 / 5 | 3.657 | 4.52 | 2 | 4.5 | 2.5 | 3 | 4 |
| 9 | Webull Canada | 3.2 / 5 | 3.249 | 4.89 | 1.5 | 2.75 | 0.5 | 3 | 4 |
| 10 | CIBC Investor’s Edge | 2.8 / 5 | 2.809 | 2.92 | 4.5 | 0.75 | 1 | 3 | 4.5 |
| 11 | RBC Direct Investing | 2.7 / 5 | 2.720 | 2.02 | 5 | 0.75 | 0.5 | 4 | 5 |
| 12 | Scotia iTRADE | 2.6 / 5 | 2.650 | 2.00 | 4 | 3 | 1 | 2 | 5 |
| 13 | TD Direct Investing | 2.4 / 5 | 2.362 | 2.00 | 2 | 0.75 | 0.5 | 5 | 4.5 |
How one score is built. Questrade’s overall score is 5.0 x 35% for cost, plus 5.0 x 15% for accounts, plus 5.0 x 15% for US investing, plus 0.5 x 10% for cash and margin, plus 4.5 x 15% for platform, plus 3.5 x 10% for safety. That is 1.75 + 0.75 + 0.75 + 0.05 + 0.675 + 0.35 = 4.325, shown as 4.3 / 5.
Ties at one decimal. Questrade and Desjardins Online Brokerage both show 4.3 / 5. Desjardins’s unrounded score is 4.275 (1.75 + 0.675 + 0.75 + 0.15 + 0.45 + 0.5), so Questrade ranks first and Desjardins second. Questrade gains on account types and its platform; Desjardins gains on its lower margin rate and on safety, as a broker owned by a financial co-operative group. Interactive Brokers Canada (4.232), Wealthsimple (4.225) and National Bank Direct Brokerage (4.175) all show 4.2 / 5 and rank third, fourth and fifth in that order.
What moves a score. Because cost counts 35%, cutting the average yearly cost by $80 adds 1 cost point and 0.35 to the overall score. Each extra account type adds 0.5 accounts points, or 0.075 overall. Each platform feature adds 0.15 overall. Publishing a margin rate of 6% or less instead of nothing adds at least 1 cash and margin point, or 0.1 overall. Offering US dollars in registered accounts with no fee, instead of not stating it, adds 2.25 US points, or 0.3375 overall.
| Broker | Overall | US stocks | Beginners | Options | Beginner platform sub-score | Options cost sub-score |
|---|---|---|---|---|---|---|
| Questrade | 4.3 / 5 | 4.6 / 5 | 4.4 / 5 | 4.3 / 5 | 3.75 | 5.00 |
| Desjardins Online Brokerage (Disnat) | 4.3 / 5 | 4.6 / 5 | 4.3 / 5 | 2.4 / 5 | 2.5 | 1.50 |
| Interactive Brokers Canada | 4.2 / 5 | 3.6 / 5 | 4.4 / 5 | 4.6 / 5 | 5 | 4.48 |
| Wealthsimple | 4.2 / 5 | 4.0 / 5 | 4.7 / 5 | 4.3 / 5 | 5 | 5.00 |
| National Bank Direct Brokerage | 4.2 / 5 | 4.5 / 5 | 4.3 / 5 | 2.8 / 5 | 2.75 | 2.50 |
| Qtrade Direct Investing | 4.0 / 5 | 3.9 / 5 | 4.3 / 5 | 3.8 / 5 | 3.5 | 4.40 |
| BMO InvestorLine | 3.8 / 5 | 3.6 / 5 | 4.2 / 5 | 3.7 / 5 | 2.5 | 4.28 |
| moomoo Canada | 3.7 / 5 | 4.0 / 5 | 3.5 / 5 | 3.7 / 5 | 2.5 | 4.48 |
| Webull Canada | 3.2 / 5 | 3.2 / 5 | 3.5 / 5 | 3.4 / 5 | 2.5 | 4.21 |
| CIBC Investor’s Edge | 2.8 / 5 | 2.3 / 5 | 3.6 / 5 | 2.1 / 5 | 4 | 1.22 |
| RBC Direct Investing | 2.7 / 5 | 2.2 / 5 | 3.4 / 5 | 1.8 / 5 | 3.5 | 0.02 |
| Scotia iTRADE | 2.6 / 5 | 2.9 / 5 | 2.8 / 5 | 1.3 / 5 | 1.25 | 0.00 |
| TD Direct Investing | 2.4 / 5 | 2.0 / 5 | 3.1 / 5 | 1.9 / 5 | 4.5 | 0.00 |
Reading the category scores. The leader changes with the weights. Questrade leads the overall score at 4.3 / 5. On the US stocks score, Desjardins Online Brokerage and Questrade both score exactly 4.575, shown as 4.6 / 5, so Desjardins ranks first by name. Wealthsimple leads the beginners score at 4.7 / 5, and Interactive Brokers Canada leads the options score at 4.6 / 5. On the ETF score, Questrade and Wealthsimple both score exactly 4.65, shown as 4.7 / 5, so Questrade ranks first by name, and Interactive Brokers Canada leads the active trader score at 4.6 / 5. The full ranked lists are on our best online brokers page and the category pages linked above.
8. Robo-Advisor Ratings: Factors, Weights and Current Scores
Five factors. Robo-advisors are scored on fees (45%), account types (15%), portfolio choice (15%), minimum to start (10%) and access to advice (15%). Fees carry almost half the weight because a robo-advisor’s fee is charged every year on your whole balance.
Fees: 45%. We add the management fee to the highest published fund cost (management expense ratio, or MER) of the core portfolios, at a $50,000 balance. Fees score = 5 minus (that total in percent minus 0.35) x 5, kept between 0 and 5. A total of 0.35% scores 5, and every 0.2 percentage point above it takes 1 point off. At $50,000, every robo-advisor we rank is in its first fee tier.
The other four factors. Accounts: half a point for each of 10 account types. Portfolios: one portfolio family scores 2, two score 3, three score 4, and four or more score 5. Minimum: the stated minimum, or where none is stated, the lowest balance in the published fee schedule (Wealthsimple Core starts at $1; Questwealth’s lowest fee tier starts at $250). $100 or less scores 5, up to $500 scores 4.5, and more than $500 scores 4. Advice: planners or advisors available to every client score 5, advisors by phone or email score 4.5, and no client advice described scores 2.
| Rank | Robo-advisor | Fee + fund cost on $50,000 | Fees score | Accounts | Portfolios | Minimum | Advice | Score |
|---|---|---|---|---|---|---|---|---|
| 1 | Wealthsimple Managed Investing | 0.50% fee + 0.15% fund cost = 0.65% | 5 minus (0.65 minus 0.35) x 5 = 3.5 | 9 types = 4.5 | 4 families = 5 | No minimum stated (Core from $1) = 5 | Advisors by phone or email = 4.5 | 4.2 / 5 (4.175) |
| 2 | Questwealth Portfolios | 0.25% fee + 0.12% fund cost = 0.37% | 5 minus (0.37 minus 0.35) x 5 = 4.9 | 9 types = 4.5 | 2 families = 3 | Lowest fee tier from $250 = 4.5 | No client advice described = 2 | 4.1 / 5 (4.080) |
| 3 | CI Direct Investing | 0.60% fee + 0.23% fund cost = 0.83% | 5 minus (0.83 minus 0.35) x 5 = 2.6 | 9 types = 4.5 | 3 families = 4 | $100 = 5 | Planners for every client = 5 | 3.7 / 5 (3.695) |
| 4 | RBC InvestEase | 0.50% fee + 0.20% fund cost = 0.70% | 5 minus (0.70 minus 0.35) x 5 = 3.25 | 4 types = 2 | 2 families = 3 | $100 = 5 | Portfolio advisors by phone or email = 4.5 | 3.4 / 5 (3.388) |
In dollars. On $50,000, the yearly fee plus fund cost is $185 at Questwealth Portfolios (0.37%), $325 at Wealthsimple Managed Investing (0.65%), $350 at RBC InvestEase (0.70%) and $415 at CI Direct Investing (0.83%). Wealthsimple ranks first despite costing more than Questwealth because it scores higher on portfolio choice and advice. Our best robo-advisors page prices each one at other balances.
The rule for being ranked. A robo-advisor is ranked only when both its management fee schedule and its fund costs are published in text we can verify. Without both, the fees factor, which is 45% of the score, cannot be calculated. These five are listed on our pages but not ranked:
- BMO SmartFolio. Its advisory fee falls from 0.7% toward 0.4% as assets grow, but the breakpoints and its fund costs are not published.
- Justwealth. Its fee tiers are published only as an image, which we cannot verify as text. Its minimum fee is $4.99 a month ($2.50 for RESP, FHSA and RDSP accounts), and it requires $5,000 to start except for RESP and FHSA accounts.
- TD Automated Investing. It is not listed among TD’s current investing services, and we could not confirm it accepts new clients.
- Nest Wealth. Its service shows as temporarily unavailable, and we could not confirm it accepts retail clients.
- Qtrade Guided Portfolios. It is no longer shown among Qtrade’s services, and we could not confirm it is still offered.
Where the robo reviews sit. Wealthsimple Managed Investing has its own Wealthsimple Managed Investing review. Questwealth Portfolios is covered in our Questrade review and RBC InvestEase in our RBC Direct Investing review, each with its own robo-advisor score.
Compare the ranked robo-advisors by cost at your balance, or see the full broker ranking these rules produce.
9. Crypto, Tax Software and Chequing Account Ratings
Crypto platforms
Who is included. Only platforms on the CSA list of authorized crypto trading platforms are scored. The CSA list we checked showed it was last refreshed on September 18, 2025. Weights: fees 35%, regulation 20%, coins 15%, features 15% and funding 15%.
The points rules. Fees: for a published trading fee of f%, the score is 5 minus (f minus 0.2) x 2.5, so a 0.2% fee scores 5 and every 0.4 percentage point above it takes 1 point off; a platform that publishes only an undisclosed spread, or no fee schedule, scores 2.5. Coins: 150 or more score 5, 100 score 4, 50 score 3, 10 score 2, fewer score 1, and a count that is not published scores 2.5. Features: 3 points for staking available in Canada and 2 for withdrawals of crypto to outside wallets. Funding: 5 for free CAD deposits and withdrawals, 4 for free deposits with fees or no statement on withdrawals, 2.5 when not published. Regulation: 5 for a CIRO investment dealer that is a CIPF member, 4 for a firm on CIPF’s member list, 3 for a platform registered with securities regulators (for example as a restricted dealer) but not on CIPF’s list.
| Rank | Platform | Published trading fee | Fees | Coins | Features | Funding | Regulation | Score |
|---|---|---|---|---|---|---|---|---|
| 1 | Wealthsimple Crypto | 0.5% plus a spread (no spread on limit orders) | 4.25 | 170+ = 5 | 5 | 4 | 5 | 4.6 / 5 (4.587) |
| 2 | NDAX | 0.20% flat | 5 | Not published = 2.5 | 5 | 4 | 4 | 4.3 / 5 (4.275) |
| 3 | Newton | Up to 1.15% on BTC, ETH and USDC; up to 1.60% on other coins | 2.62 | 50+ = 3 | 5 | 5 | 5 | 3.9 / 5 (3.867) |
| 4 | Coinbase Canada | Varies by payment method and order size; spread included in the price | 2.5 | 200+ = 5 | 5 | 4 | 3 | 3.6 / 5 (3.575) |
| 5 | Crypto.com | No app trading fee up to Level Up limits; spread may apply | 2.5 | 400+ = 5 | 3 | 4 | 3 | 3.3 / 5 (3.275) |
| 6 | Netcoins | No separate fee; spread of undisclosed size | 2.5 | 60+ = 3 | 5 | 4 | 3 | 3.3 / 5 (3.275) |
| 7 | Shakepay | No commission; spread of undisclosed size | 2.5 | Bitcoin and Ethereum = 1 | 2 | 5 | 5 | 3.1 / 5 (3.075) |
| 8 | Robinhood Canada (Coinsquare) | Fee schedule not published on the pages checked | 2.5 | 50+ = 3 | 2 | 2.5 | 5 | 3.0 / 5 (3.000) |
| 9 | Kraken | 1% on app instant buys; Kraken Pro 0.40% maker, 0.80% taker | 3 | Not published = 2.5 | 0 | 2.5 | 3 | 2.4 / 5 (2.400) |
A note on protection. CIPF membership of the dealer does not extend to the crypto itself: Wealthsimple, Newton and Robinhood Canada each state that crypto assets are not CIPF-protected. The regulation points reward the firm’s registration, not insurance of your coins. Our best crypto platforms page and Wealthsimple Crypto review explain custody at each.
Tax software
Who is included. Seven products on the Canada Revenue Agency’s NETFILE certified-software list for the 2025 tax year. Weights: price 35%, features 35%, support 15% and Quebec returns 15%.
The points rules. Price: 5 for a full-featured free tier, 3.5 when the free tier covers only simple returns, 3 when the price is not published. Features: 5 when all income types are handled, including self-employment and investment income, 4 for most, 3 for basic or not confirmed. Support: 5 when expert review or full service is available, 4 for an expert consultation on a paid tier, 3 for phone support, 1 for none. Quebec: 5 when the product files Quebec returns, 2.5 when not confirmed.
| Rank | Software | Price | Features | Support | Quebec | Score |
|---|---|---|---|---|---|---|
| 1 | Wealthsimple Tax | 5 | 5 | 4 | 5 | 4.8 / 5 |
| 2 | H&R Block Canada | 3.5 | 5 | 5 | 5 | 4.5 / 5 |
| 3 | TurboTax Canada | 3.5 | 5 | 5 | 5 | 4.5 / 5 |
| 4 | CloudTax | 5 | 4 | 5 | 2.5 | 4.3 / 5 |
| 5 | UFile | 3.5 | 4 | 3 | 5 | 3.8 / 5 |
| 6 | GenuTax | 5 | 3 | 1 | 2.5 | 3.3 / 5 |
| 7 | StudioTax | 3 | 3 | 1 | 2.5 | 2.6 / 5 |
Reading the tax table. H&R Block Canada and TurboTax Canada have identical points and identical unrounded scores, so the tie is ordered by name. Compare tiers and prices on our best tax software page or read the Wealthsimple Tax review.
Chequing accounts
Weights. Fees 35%, interest 20%, transactions 15%, ATM access 15%, and protection and features 15%.
The points rules. Fees: 5 for a $0 monthly fee with no conditions, 4.5 for a $0 fee with per-transaction charges below a balance of $1,000 or less, 3 for a fee of $4 or less a month, 2.5 for a fee over $15 a month waived at a daily balance of $4,500 or less, 1.5 for a fee over $15 with no waiver. Interest: the everyday rate with no paid plan, scored on a sliding scale where 0% = 0, 1% = 2.5, 2% = 4.0 and 2.75% or more = 5.0; a direct-deposit bonus counts at half its extra value, and an unpublished rate scores 0. Transactions: 5 for unlimited transactions with free e-Transfers, 3 for 18 a month with e-Transfers included, 2.5 for 12 a month, minus 0.5 if sending an e-Transfer costs a fee. ATM: 5 for no fee anywhere in Canada or fees reimbursed, 4 for a large own network plus a shared network, 3.5 for an own network only, 2.5 for fees at all ATMs or not published. Protection and features: 5 for a CDIC member, in its own right or through its parent bank, whose account does not rule out cheques; 4 for a CDIC member whose account offers no cheques; 3.5 for deposits held in trust at CDIC members (the provider is not a member) with a chequebook available; 3 for deposits held in trust with cheques not offered or not stated.
A worked interest score. EQ Bank pays 1.00%, plus a 1.75% bonus with pay direct deposit. Half the bonus counts, so the rate scored is 1.875% (1.00% + 1.75% / 2). On the sliding scale between 1% (2.5 points) and 2% (4.0 points), 1.875% scores 2.5 + 1.5 x 0.875 = 3.8125, shown as 3.81.
| Rank | Account | Monthly fee | Fees | Interest | Transactions | ATM | Protection | Score |
|---|---|---|---|---|---|---|---|---|
| 1 | EQ Bank Personal Account | $0 | 5 | 3.81 | 5 | 5 | 4 | 4.6 / 5 (4.612) |
| 2 | Wealthsimple Chequing | $0 | 5 | 3.25 | 5 | 5 | 3.5 | 4.4 / 5 (4.425) |
| 3 | Manulife Bank Advantage Account | $0; transaction fees below a $1,000 balance | 4.5 | 3.25 | 4.5 | 2.5 | 5 | 4.0 / 5 (4.025) |
| 4 | KOHO Essential | $7 a month, $0 with direct deposit or $1,000 a month in deposits | 4.5 | 4 | 5 | 2.5 | 3 | 4.0 / 5 (3.950) |
| 5 | Simplii No Fee Chequing Account | $0 | 5 | 0 | 5 | 4 | 5 | 3.9 / 5 (3.850) |
| 6 | Tangerine No-Fee Daily Chequing Account | $0 | 5 | 0 | 5 | 4 | 5 | 3.9 / 5 (3.850) |
| 7 | PC Money Account | $0 | 5 | 0 | 5 | 3.5 | 5 | 3.8 / 5 (3.775) |
| 8 | Neo Chequing | $0 | 5 | 0.25 | 4.5 | 2.5 | 3 | 3.3 / 5 (3.300) |
| 9 | National Bank The Connected | $15.95 a month, $0 with a $4,500 balance | 2.5 | 0 | 5 | 4 | 5 | 3.0 / 5 (2.975) |
| 10 | TD Unlimited Chequing Account | $17.95 a month, $0 with a $4,000 daily balance | 2.5 | 0 | 5 | 4 | 5 | 3.0 / 5 (2.975) |
| 11 | BMO Performance Chequing | $17.95 a month, $0 with a $4,000 daily balance | 2.5 | 0 | 5 | 3.5 | 5 | 2.9 / 5 (2.900) |
| 12 | CIBC Smart Account | $16.95 a month, rebate with $4,000 every day | 2.5 | 0 | 5 | 3.5 | 5 | 2.9 / 5 (2.900) |
| 13 | Scotiabank Preferred Package | $16.95 a month, $0 with $4,000 every day | 2.5 | 0 | 5 | 3.5 | 5 | 2.9 / 5 (2.900) |
| 14 | National Bank The Minimalist | $3.95 a month (ages 25 and up) | 3 | 0 | 3 | 4 | 5 | 2.8 / 5 (2.850) |
| 15 | CIBC Everyday Chequing Account | $4 a month | 3 | 0 | 3 | 3.5 | 5 | 2.8 / 5 (2.775) |
| 16 | Scotiabank Basic Bank Account | $3.95 a month | 3 | 0 | 3 | 3.5 | 5 | 2.8 / 5 (2.775) |
| 17 | BMO Practical Chequing | $4 a month | 3 | 0 | 2.5 | 3.5 | 5 | 2.7 / 5 (2.700) |
| 18 | RBC Day to Day Banking | $4 a month | 3 | 0 | 2.5 | 3.5 | 5 | 2.7 / 5 (2.700) |
| 19 | TD Minimum Chequing Account | $3.95 a month | 3 | 0 | 2.5 | 3.5 | 5 | 2.7 / 5 (2.700) |
| 20 | RBC Signature No Limit Banking | $16.95 a month | 1.5 | 0 | 5 | 3.5 | 5 | 2.5 / 5 (2.550) |
Where to use the chequing scores. Our best chequing accounts page ranks all 20, and the best no-fee chequing accounts page ranks the 8 with a $0 monthly fee in the same order (KOHO Essential’s $7 fee is $0 with direct deposit or $1,000 a month in deposits). The EQ Bank review and Wealthsimple Chequing review break down the top two.
10. Keeping the Broker Rating Methodology Current: Ties, Updates and Challenges
How ties are broken. Scores are shown to one decimal. When two providers show the same score, the higher unrounded score ranks first, and if the unrounded scores are also equal, the providers are ordered by name. Questrade (4.325) ranks ahead of Desjardins Online Brokerage (4.275) on the overall list although both show 4.3 / 5. Desjardins Online Brokerage and Questrade score exactly 4.575 on the US stocks score, so Desjardins ranks first there by name, and Simplii No Fee Chequing Account ranks ahead of Tangerine No-Fee Daily Chequing Account because both score exactly 3.85.
When scores change. A score is recalculated whenever a provider changes a price, rate or feature that feeds the model, such as a commission, an account fee, a margin rate or a new account type. Every page that shows a score shows the date its figures were checked. Our editorial standards set how often we re-check: rates weekly and fees monthly. A change in one provider’s score can move other providers up or down a list without any change to their own scores.
Partnerships never change scores. Inclusion, score, rank and the look of a provider’s listing are the same whether or not that provider pays WealthScale. A provider cannot buy a review, a faster re-check or a higher position. If WealthScale adds partner links in future, they will be labelled “Partner link” and will not touch the model on this page.
How to challenge a score. If you think a figure is wrong, please write to us through our contact page with the page, the figure and where the provider publishes the correct one. We re-check the figure against the provider’s own published pricing. If it has changed, we update the input, recalculate every affected score and list, and change the checked date. We aim to reply within two business days. Providers use the same route and get the same treatment as readers.
Changes to the model itself. If we change a weight or a points rule, we publish the new rule on this page and recalculate every score at once, so no provider is scored under old rules while another is scored under new ones.
Broker Rating Methodology FAQ
Why does cost carry 35% of a broker’s score?
Cost is the one factor every investor pays every year, whatever they hold. Commissions and account fees come straight off your returns, so a broker that is $80 a year cheaper for the same trades gains a full cost point. Account types, US investing and the platform each count 15%, so a cheap broker with few accounts or a weak platform can still rank below a slightly dearer one.
Do partnerships or affiliate links change a score?
No. Scores come only from published prices and features run through the same rules for every provider. Whether a provider pays WealthScale has no part in its score, rank or listing. WealthScale has no paid or affiliate links today. If partner links are added later, they will be labelled, and the model on this page will stay the same.
How do you score a broker that does not say whether its registered accounts hold US dollars?
It earns 0.75 of the 3 points for US dollars in registered accounts, against 3 for a broker that states it offers them with no fee and 1.5 where an account fee applies. This applies to Interactive Brokers Canada, BMO InvestorLine, Webull Canada, CIBC Investor’s Edge, RBC Direct Investing and TD Direct Investing. A broker can raise its score by publishing its terms.
Why are some robo-advisors not ranked?
A robo-advisor is ranked only when both its management fee schedule and its fund costs are published in text we can verify, because fees are 45% of the score. BMO SmartFolio, Justwealth, TD Automated Investing, Nest Wealth and Qtrade Guided Portfolios are listed but not ranked, either because a fee figure is missing or because we could not confirm the service is open to new clients.
Why are savings and GIC lists sorted by rate instead of score?
Someone choosing a savings account or a GIC is mostly choosing on the interest rate, so those tables are sorted by the rate, highest first, with the date checked and the deposit insurance shown. The margin rate list works the same way. Chequing accounts are scored because fees, ATM access and features matter as much as the rate.
How are ties between brokers broken?
Scores are shown to one decimal. When two providers show the same score, the one with the higher unrounded score ranks first. If the unrounded scores are equal too, they are ordered by name. On a list sorted by a single figure, such as the margin rate, providers with the same figure are tied.
How often are broker scores updated?
A score is recalculated whenever a provider changes a price, rate or feature that feeds the model. We re-check rates weekly and fees monthly, and every page shows the date its figures were checked. The scores on this page use figures checked on October 22, 2026.
Can I challenge a score?
Yes. Please send the page, the figure and where the provider publishes the correct one through our contact page. We re-check against the provider’s own published pricing and, if the figure has changed, update the input and recalculate every affected score and list. Providers can challenge a score the same way but cannot pay for a review or a faster re-check.
Put the scores to work: compare any two platforms side by side, or price your own trading pattern at every broker.
Figures on this page were checked against each provider’s published pricing on October 22, 2026. We update this page when a figure changes.
Meet the Experts Behind WealthScale

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)

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
General information only. Not financial, investment, tax or legal advice. WealthScale is independent and is published by WealthScale Media Inc., 55 Queen St E, Suite 1205, Toronto, ON M5C 1R6. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.