Best RRSP Accounts for US Stocks

Best RRSP for US Stocks: Ranking at a Glance

All 13 brokers we score offer an RRSP. The table ranks them by our US-stocks score, with ties ordered by the unrounded score, then the name. The last column shows the commission on a 40-share US stock order at each broker’s published price as of October 22, 2026.

Section 6 prices a full year of trades at every broker, and the calculator there works out your own pattern.

Master Comparison Table: 13 RRSPs for US Stocks

Search or sort the table to compare the RRSP details that decide what US investing costs over decades: US dollars in the RRSP and later the RRIF, the account types beside them, and the fees to trade, to hold and to leave. “Not stated” means the broker’s own pages do not say. The two yearly cost columns are our scoring patterns for an account with $20,000: active (two Canadian and one US trade a month) and buy-and-hold (one Canadian trade a month), each a 40-share order, plus any yearly account fee.

At a $20,000 balance with these trade counts, none of the small-balance RRSP fees in section 11 applies, so the two patterns cost the same in an RRSP as in our scoring. The fee to hold US dollars in an RRSP is shown in its own column; it applies only if you add a USD account and is reflected in the US sub-score rather than the cost sub-score.

The 13 RRSP Brokers for US Stocks Ranked

Each card covers what US stocks cost inside that broker’s RRSP: the score and the sub-scores behind it, the commissions in our two trading patterns, whether the RRSP and later the RRIF can hold US dollars, and the retirement-account fees that apply. Only brokers with a full WealthScale review get a review button.

1. How We Ranked the Best RRSP for US Stocks

All 13 brokers offer an RRSP. None drops out of this list, so it ranks the same 13 brokers by our US-stocks score: US investing 40%, cost 25%, account types 10%, platform 10%, safety 10% and cash and margin rates 5%. Our broker rating methodology sets out every rule.

Why US-dollar registered accounts carry so much weight here. The US sub-score gives up to 3 points for US dollars in registered accounts with no fee, 1.5 if a fee applies and 0.75 if the broker does not say, plus up to 2 points for the US commission (2 at $0, 1.5 at $2 or less, 0 above). In an RRSP the registered-account measure matters most, because the treaty exemption applies to US-listed securities the account holds directly, and those trade in US dollars. The cost sub-score uses yearly commissions and account fees for two trading patterns, shown in section 6.

How this differs from our general RRSP list. Our list of the best RRSP accounts in Canada ranks the same brokers by the overall score, where US investing carries 15% and Questrade leads at 4.3 / 5. Here, brokers whose RRSPs hold US dollars at no fee and charge $0 on US trades, such as Desjardins and National Bank, rank higher, and Interactive Brokers, which does not state US dollars in its RRSP, ranks lower.

What the score does not measure. The treaty exemption is the same at every broker; the score cannot reward one broker for it. What the score captures is whether each broker’s registered accounts can hold US dollars and at what fee, what US trades cost, and its other costs and features. RRIF and locked-in account support is covered in the account-type sub-score and in the tables on this page. The same scores rank brokers across all account types in our list of the best brokers for US stocks.

Ties and independence. Ties are ordered by the unrounded score, then the name. Desjardins and Questrade tie exactly at 4.575, so Desjardins comes first by name; Wealthsimple (4.05) ranks before moomoo (3.955); and BMO and Interactive Brokers tie exactly at 3.625, so BMO comes first by name. No provider pays for a position. Our advertiser disclosure and editorial standards explain how we work. Every figure was checked on October 22, 2026.

2. The Treaty Exemption: Why US Dividends in an RRSP Are Not Taxed

The default US rate. The United States taxes dividends that US companies pay to foreign investors. For a Canadian resident, Article X(2)(b) of the Canada-US tax treaty caps that tax at 15%, provided the broker has a Form W-8BEN on file; without treaty documentation the rate is 30%. That is what a TFSA, FHSA, RESP or non-registered account pays.

The retirement exemption. Article XXI(2) of the same treaty exempts dividends and interest earned by a trust or other arrangement that is generally exempt from tax in its home country and is operated exclusively to provide pension, retirement or employee benefits. RRSPs, RRIFs and locked-in retirement accounts such as LIRAs and LIFs are such arrangements. A spousal RRSP is an RRSP, so it qualifies too.

What it means in practice. US-listed stocks and ETFs held directly in your RRSP pay their dividends with no US tax withheld, once your broker has the account documented. Your RRSP receives 100% of each dividend instead of 85%.

The calculator below shows the US tax kept from a year’s dividends in each account type. Choose RRSP to see the exempt result, then TFSA to compare.

Interest too. Article XXI(2) covers interest as well as dividends, which matters if your RRSP holds US-source interest-paying securities directly. For the account rules in full, see our RRSP guide.

3. What the Exemption Is Worth in Dollars

The yearly saving. The exemption keeps 15% of each US dividend that a TFSA or other non-exempt account would lose. The saving grows with the yield and the size of your US holdings. The table uses US$100,000 of US-listed holdings and hypothetical yields, with values held flat.

With compounding. This example is hypothetical. Take US$100,000 of US-listed holdings that grow 4% a year in price and yield 2% a year, with dividends reinvested. In an RRSP the full 6% compounds; in a TFSA the 15% withholding cuts the dividend part to 1.7%, so 5.7% compounds. After 20 years the RRSP holds US$320,713.55 (US$100,000 x 1.06 to the power of 20) and the TFSA holds US$303,039.85 (US$100,000 x 1.057 to the power of 20), a gap of US$17,673.70.

Before Canadian tax. The comparison isolates US withholding only. RRSP withdrawals are taxed as income in Canada, and TFSA withdrawals are not, so the full TFSA vs RRSP answer depends on your tax rate now and in retirement. Our comparison of the TFSA vs RRSP covers that trade-off.

Low-yield holdings gain little. A US holding that pays no dividend saves nothing from the exemption, because there is nothing to withhold. The exemption is worth the most for US-listed holdings with meaningful dividends, which is why, when you have room in both accounts, it can make sense to place those in the RRSP first. This is a general rule, not advice on any security.

4. Hold US-Listed Securities Directly

Direct means listed in the United States. The exemption applies to US-listed securities that your RRSP owns itself. When your RRSP owns a US-listed stock or ETF, the RRSP is the shareholder, and its documented status as a retirement account is what switches off the withholding.

Canadian-listed funds that hold US shares. If your RRSP instead owns a Canadian-listed fund that holds US shares, the fund is the shareholder. The fund is not a retirement arrangement, so US tax can be withheld on the dividends it receives before anything reaches your RRSP, and your RRSP cannot recover it. Holding US exposure through a Canadian-listed fund in an RRSP therefore does not get the exemption that holding the US-listed security directly does. This is a general point about structure, not a view on any fund.

US-listed securities trade in US dollars. If your RRSP can hold US dollars, US-listed holdings, their dividends and their sale proceeds can all be kept in US dollars inside the account. That is why US-dollar RRSPs with no fee carry so much weight in this ranking, and why section 5 lists what each broker states.

Moving existing US holdings. If you already own US-listed securities at another broker, an in-kind, direct RRSP transfer moves them without selling, so no trade happens. Check that the receiving RRSP can hold US dollars and US-listed securities first. See how to transfer an RRSP for the forms.

Which accounts to use for what. Because only retirement accounts get the exemption, a simple rule of thumb is: US-listed dividend payers in the RRSP or RRIF; low-dividend or Canadian holdings in the TFSA. Our ranking of the best TFSA for US stocks covers the TFSA side.

5. USD RRSP Accounts by Broker

A USD RRSP account lets US-listed holdings, their dividends and their sale proceeds stay in US dollars. The table lists what each broker states for its retirement accounts as of October 22, 2026, including what happens when the RRSP later becomes a RRIF.

No-fee choices. Six brokers state a US-dollar RRSP with no fee: Questrade, National Bank, Desjardins, moomoo, Scotia iTRADE and TD Easy Trade. Questrade, National Bank, Desjardins and Scotia iTRADE also state a US-dollar RRIF, so the US-dollar side carries on into retirement. moomoo and TD Easy Trade list no RRIF.

Paid choices. Wealthsimple charges $10 a month plus tax on Core, $120 a year before tax, and includes the USD account at $100,000 in assets; but it has no US-dollar RRIF or LIF. Qtrade charges US$15 a quarter per account, US$60 a year, for a US-dollar RRSP or RRIF unless you have Investor Plus.

Plan for the RRIF now. By the end of the year you turn 71, you must withdraw your RRSP, transfer it to a RRIF or buy an annuity. If your broker has no US-dollar RRIF, or no RRIF at all, your US holdings would need to move, or be held without a US-dollar side, at that point. Section 10 covers the RRIF stage. For one paid option in detail, see our Wealthsimple USD accounts review.

6. Yearly Commissions and Account Fees for a US-Stock RRSP

Two scoring patterns and one US pattern. Our cost sub-score prices two patterns at published prices for an account with $20,000: an active investor making two Canadian and one US trade a month, and a buy-and-hold investor making one Canadian trade a month. Each trade is a $2,000 order of 40 shares, and any yearly account fee is added. The sub-score is 5 minus the average of the two costs divided by $80. A third column prices one US trade a month.

Six brokers cost $0.00. Wealthsimple, Questrade, Qtrade, National Bank, Desjardins and BMO charge $0 on Canadian and US stock trades and no yearly account fee in these patterns. Webull also charges $0 commissions, but its $0.70 monthly administration fee makes every pattern $8.40 a year. Interactive Brokers costs $36.00 in the active pattern and moomoo $59.64.

Per-trade brokers. At the bank-owned brokers that charge per trade, the active pattern costs $250.20 at CIBC ($6.95 x 36), $358.20 at RBC ($9.95 x 36) and $359.64 at TD and Scotia iTRADE ($9.99 x 36). Over 25 years of RRSP saving, $359.64 a year adds up to $8,991.00 ($359.64 x 25) before any growth on the money.

Fees to hold US dollars. Wealthsimple charges $10 a month plus tax for a USD account on Core ($120 a year before tax) and includes it on Premium and Generation, and Qtrade charges US$15 a quarter per account unless you have Investor Plus. The cost sub-score counts commissions and yearly account fees only; the USD account fee is reflected in the US sub-score instead, at 1.5 points rather than 3.

Enter how many Canadian and US trades you make a month, and the calculator shows the yearly commissions and account fees at every broker for that pattern.

Your own limit. Your RRSP deduction limit is the lesser of 18% of your previous year’s earned income and the dollar limit, $33,810 for 2026, minus pension adjustments, plus unused room carried forward. Our RRSP calculator shows the refund on a contribution, and the RRSP contribution limit page explains room.

7. Spousal RRSPs and Locked-In Accounts for US Holdings

The exemption covers them all. A spousal RRSP is an RRSP, and LIRAs and LIFs are locked-in retirement accounts, so US-listed securities held directly in them get the same treaty exemption once documented. What differs by broker is whether these accounts are offered at all and whether they can hold US dollars.

Spousal RRSPs. You can contribute to a spousal RRSP until the end of the year your spouse or common-law partner turns 71, and withdrawals can be taxed in your hands if you contributed in the year of withdrawal or either of the two preceding years. Questrade, National Bank, Wealthsimple and Qtrade state US-dollar spousal RRSPs, Desjardins offers US plans for the RRSP including spousal, and moomoo says its spousal RRSP holds Canadian and US dollars.

LIRAs and LIFs. Desjardins offers both in US dollars, and Questrade’s registered accounts, its LIRA and LIF included, hold US dollars at no charge. National Bank and Wealthsimple offer US-dollar LIRAs; Wealthsimple has no US-dollar LIF, and National Bank does not state one. BMO offers every locked-in type without stating US-dollar support. For a full ranking of locked-in accounts, see the best LIRA accounts.

Federally regulated LIFs. Federal pension rules say that if the holder does not choose an amount, the minimum set under the Income Tax Act for a RRIF is paid from a federally regulated LIF each year, and a formula caps the yearly maximum before age 90. Provincially regulated LIFs follow each province’s pension law, so please check the rules that apply to yours.

8. US Dividends in an RRSP: Checking the Exemption Works

Documentation comes first. The exemption applies once your broker has your RRSP documented. Please ask your broker to confirm that your RRSP, and any spousal RRSP, RRIF, LIRA or LIF, is set up for the treaty exemption before you buy US dividend payers.

Check the first dividend. Your activity statement or transaction history usually shows each US dividend with the gross amount and any tax withheld. In a documented RRSP holding a US-listed security directly, the tax line should be zero. If US tax was withheld, contact your broker promptly and ask why; the answer may be missing documentation on the account.

Compare with your other accounts. The same US-listed holding in your TFSA or non-registered account should show 15% withheld with a W-8BEN on file. If either shows 30%, the W-8BEN is missing. In a non-registered account you can claim a foreign tax credit for the 15%; in a TFSA you cannot.

Reinvesting exempt dividends. The exemption gives your RRSP the full dividend. A DRIP can reinvest it in more of the same security without a separate trade: Questrade’s DRIP has no fee, National Bank reinvests on request in full shares, TD Direct Investing reinvests in full shares by phone, and Interactive Brokers charges its standard commission.

What the exemption does not cover. It covers US-source dividends and interest on securities your RRSP holds directly. It does not change Canadian tax: RRSP withdrawals are taxed as income in Canada whatever the RRSP held. And it does not reach US tax withheld inside a Canadian-listed fund that holds US shares, as section 4 explains.

9. RRSP Rules That Shape a US Portfolio

How much you can contribute. Your deduction limit is the lesser of 18% of the previous year’s earned income and the yearly dollar limit, minus pension adjustments, plus unused room carried forward. The dollar limit is $33,810 for 2026 and $35,390 for 2027. Unused room carries forward to later years.

Deadlines. Contributions for a tax year can be made until the 60th day of the following year. The deadline for the 2025 tax year was March 2, 2026; 2026 contributions are due by March 1, 2027.

Over-contributions. You can go up to $2,000 over your limit without penalty if you were 18 or older at any time in the previous year. Anything above that is taxed at 1% a month.

Age limits and spousal plans. December 31 of the year you turn 71 is the last day to contribute to your own RRSP. You can contribute to a spousal RRSP until the end of the year your spouse or common-law partner turns 71. Withdrawals from a spousal RRSP can be taxed in your hands if you contributed in the year of withdrawal or either of the two preceding years.

Withdrawals. Lump-sum withdrawals have tax withheld at source: outside Quebec, 10% up to $5,000, 20% from $5,001 to $15,000 and 30% over $15,000. In Quebec, the federal part is 5%, 10% and 15%, plus Quebec tax. Non-residents generally have 25% withheld unless a treaty reduces it. Withholding is a prepayment; the withdrawal is added to your income for the year.

Protection. CIPF covers registered retirement accounts (RRSPs, RRIFs and LIFs) up to a separate $1,000,000 if a member firm fails, apart from the $1,000,000 for general accounts. It does not cover market losses. The dealers behind all 13 brokers on this list appear on CIPF’s member list, and our CIPF vs CDIC guide explains how this protection differs from deposit insurance at a bank. Our RRSP contribution limit page covers room in detail.

10. From RRSP to RRIF: Keeping US Holdings in Retirement

The exemption continues. A RRIF is a retirement arrangement under Article XXI(2) of the treaty, just like the RRSP it came from. US-listed securities held directly in a documented RRIF keep paying dividends with no US withholding.

Not every broker has a US-dollar RRIF. Questrade, National Bank, Desjardins and Scotia iTRADE state US-dollar RRIFs with no fee. Qtrade offers one for US$15 a quarter (none with Investor Plus). RBC accounts hold Canadian and US dollar balances. Wealthsimple offers a RRIF but no USD account for it, so US holdings there would sit in a RRIF without a US-dollar side. moomoo, Webull and TD Easy Trade list no RRIF at all, so an RRSP there would need to move before it becomes a RRIF. Interactive Brokers launched its RRIF on February 3, 2026, but does not state US-dollar support.

Minimum withdrawals. From the year after you set up a RRIF, you must withdraw at least the minimum each year: the RRIF’s fair market value at the start of the year times a prescribed factor for your age. The factor is 0.0528 at 71, 0.0540 at 72 and 0.0582 at 75. This example is hypothetical: on a $300,000 RRIF at 72, the minimum is $16,200 ($300,000 x 0.0540).

No withholding on the minimum. The Canada Revenue Agency’s T4RSP and T4RIF guide tells payers not to withhold income tax from the minimum amount. On the $16,200 minimum above, nothing is withheld at source, though the payment is still taxable income for the year.

Withholding on RRIF payments. The Canada Revenue Agency’s payer guide treats the part of a RRIF payment above the minimum as a lump sum, with tax withheld at 10%, 20% or 30% (5%, 10% or 15% federal in Quebec). For factors at every age, see our RRIF minimum withdrawal table, the RRIF calculator and our ranking of the best RRIF accounts.

11. RRSP Fees: Admin, Withdrawal and Transfer Costs

A retirement account can stay at one broker for decades, so small yearly fees and one-off exit fees matter. This table lists what each broker publishes for its RRSP and RRIF as of October 22, 2026.

Small balances pay more. Desjardins, Scotia iTRADE, CIBC, National Bank and TD Direct Investing all charge some retirement accounts $100 a year or $25 a quarter below a threshold, unless a waiver applies. On a $10,000 RRSP, $100 a year is 1% of the balance, every year. If your RRSP is small, the brokers with no account fee, such as Questrade, Wealthsimple and RBC, avoid that drag.

Rebates when you move. Questrade rebates up to $150 per account, RBC up to $200 on $15,000 or more, Wealthsimple the other firm’s fee, up to $150 per account, on $25,000 or more, and Qtrade up to $150 per client on $15,000 or more under its Fall Offer 2026. Ask for an in-kind, direct transfer so US holdings move without being sold.

12. How to Choose an RRSP for US Stocks

The best RRSP for US stocks is the one that lets you use the treaty exemption cheaply for as long as you hold the account, through the RRIF years too. These steps apply the tables above.

1. Confirm a US-dollar RRSP. Start with brokers that state one with no fee: Questrade, National Bank, Desjardins, moomoo, Scotia iTRADE and TD Easy Trade.
2. Look ahead to the RRIF. If you are within a decade or two of 71, prefer a broker that also states a US-dollar RRIF: Questrade, National Bank, Desjardins or Scotia iTRADE.
3. Price your trades. Enter your Canadian and US trades a month in the broker cost calculator in section 6. Our active pattern runs from $0.00 at six brokers to $359.64 at TD and Scotia iTRADE.
4. Add account fees. Count any small-balance fee on your RRSP and RRIF, and any USD account fee: $10 a month plus tax at Wealthsimple Core, or US$15 a quarter per account at Qtrade without Investor Plus.
5. Check the transfer. Note the transfer-out fee at your current broker and the rebate at the new one, and ask for an in-kind move.
6. Confirm documentation. Ask the new broker to confirm your RRSP is documented for the treaty exemption, then check your first US dividend.

A quick read of the ranking. Desjardins and Questrade tie at the top, each with no-fee US-dollar RRSPs and RRIFs and $0 online US trades. National Bank offers the same at a big bank, with a US-dollar LIRA. Wealthsimple includes its USD account from $100,000 in assets but has no US-dollar RRIF. Interactive Brokers does not state US-dollar registered accounts. For more, see Questrade vs Interactive Brokers and Wealthsimple vs Questrade.

13. Common Mistakes With US Stocks in an RRSP

Holding US exposure through a Canadian-listed fund and expecting the exemption. The exemption reaches US-listed securities the RRSP owns directly. A Canadian-listed fund holding US shares is the shareholder, and US tax inside the fund is not recovered by your RRSP.

Not checking the first dividend. If your RRSP is not documented, US tax may be withheld. Look at the first US dividend and raise any withholding with your broker right away.

Paying per-trade commissions on small purchases. At $9.99 a trade, 12 US purchases a year cost $119.88 ($9.99 x 12). Seven brokers on this list charge $0 on US stock trades.

Forgetting the USD account fee. Wealthsimple charges $10 a month plus tax on Core for a USD RRSP, and Qtrade US$15 a quarter per account without Investor Plus, so a US-dollar RRSP and a US-dollar spousal RRSP there each pay it.

Ignoring the RRIF stage. moomoo, Webull and TD Easy Trade list no RRIF, and Wealthsimple has no US-dollar RRIF. If your RRSP is there at 71, plan the move in advance.

Over-contributing. Beyond the $2,000 cushion, an excess costs 1% a month. Please check your notice of assessment for your deduction limit before you contribute.

Putting low-dividend US holdings in the RRSP and high-dividend ones in the TFSA. That arrangement loses the most to withholding. As a general rule, the RRSP is the better home for US-listed dividend payers.

What You Need and What You Get

10 Strategies for US Stocks in an RRSP

Illustrative Example: Moving $100,000 of RRSP Savings 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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Neha Gupta, CFAFinancial ReviewerCFA charterholder

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

• CFA charter, CFA Institute (awarded 2023)
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