Best Commission Free Brokers in Canada
Discover 7 deals available this month.
1.Wealthsimple Trade
Wealthsimple Trade offers commission-free trading on Canadian stocks and ETFs with no account maintenance or inactivity fees. It also provides access to cryptocurrency trading with full wallet functionality.
View Deal →Ideal for investors seeking a no-fee platform that combines stock and crypto trading seamlessly, Wealthsimple Trade simplifies access to Canadian markets without hidden charges.
Pros:
- Commission-free trading on Canadian stocks and ETFs
- No account maintenance or inactivity fees
- Supports cryptocurrency trading with full wallet functionality
Cons:
- Limited to Canadian stocks and ETFs for commission-free trades
- May lack advanced trading tools preferred by active traders
- Cryptocurrency trading features might not cover all crypto assets
2.Questrade
Questrade offers commission-free trading on stocks and ETFs with no minimum investment, annual fees, or inactivity charges. It provides a cost-effective option for Canadian investors seeking low-fee trading.
View Deal →Questrade stands out for delivering commission-free trades without hidden fees, making it a solid choice for investors focused on minimizing costs.
Pros:
- Commission-free trading on stocks and ETFs
- No minimum investment amount required
- No annual or inactivity fees
Cons:
- Limited to Canadian stocks and ETFs for commission-free trades
- No mention of cryptocurrency trading options
- Some advanced features may have fees not covered in basic commission-free offer
3.National Bank Direct Brokerage (NBDB)
National Bank Direct Brokerage offers zero commission on all stock and ETF trades in both Canadian and U.S. markets with no minimum investment required. It provides cost-effective trading for investors seeking commission-free access across major markets.
View Deal →A standout option for cost-conscious investors, NBDB delivers commission-free trading on a broad range of stocks and ETFs without any minimum investment threshold. It’s a straightforward choice for those prioritizing low-cost market access.
Pros:
- Zero commissions on all Canadian and U.S. stock and ETF trades
- No minimum investment required
- Access to both Canadian and U.S. markets
Cons:
- Limited information on additional features or tools compared to some competitors
- No mention of cryptocurrency or alternative asset trading options
- Lacks detailed promotional deals or incentives
4.Moomoo Financial Canada
Moomoo Financial Canada offers commission rates starting at $1.49 per trade with no minimum investment required. It is designed for active investors seeking low trading costs.
View Deal →Active traders will find Moomoo appealing due to its low starting commissions and flexibility with no minimum investment. While not commission-free, its pricing remains competitive for frequent trading.
Pros:
- Low commissions starting at $1.49 per trade
- No minimum investment requirement
- Designed specifically for active investors
Cons:
- Not commission-free unlike some competitors
- May be less attractive for casual investors due to per-trade fees
5.CIBC Investor's Edge
CIBC Investor's Edge charges an average commission of $6.95 per trade with no minimum investment required. It is tailored for investors who trade in large volumes.
View Deal →Large volume traders will find CIBC Investor's Edge offers a straightforward pricing model with moderate fees per trade. Its lack of minimum investment makes it accessible, but the commission costs are higher compared to commission-free alternatives.
Pros:
- No minimum investment required
- Consistent average trade cost of $6.95
- Suitable for investors who execute frequent or large trades
Cons:
- Higher commission fees compared to commission-free brokers
- Not ideal for casual or small volume investors
- Lacks commission-free trading options on stocks and ETFs
6.Interactive Brokers Canada (IBKR)
Interactive Brokers Canada offers low commissions with no added spreads, ticket charges, platform fees, or account minimums. It also provides access to over 15 international exchanges.
View Deal →Accessing a wide range of global markets without hidden fees makes IBKR a solid choice for investors seeking low-cost, international trading opportunities.
Pros:
- Low commissions with no added spreads or ticket charges
- No platform fees or account minimums
- Access to more than 15 international exchanges
Cons:
- Not commission-free, unlike some competitors
- May be less ideal for casual or infrequent traders
- Platform complexity can be challenging for beginners
7.Qtrade
Qtrade provides commission-free trading on a select list of 100 Canadian ETFs along with free stock trades. There are no fees mentioned for account maintenance or inactivity.
View Deal →Qtrade offers a straightforward way to trade stocks and a curated ETF list without commissions, making it a solid choice for Canadian investors who want low-cost access to popular ETFs. Its selective free ETF offering sets it apart from broader commission-free platforms.
Pros:
- Free trading on 100 selected Canadian ETFs
- Commission-free stock trades
- No mention of account maintenance or inactivity fees
Cons:
- Free trading applies only to a limited list of ETFs
- Less comprehensive commission-free ETF offering compared to some competitors
- No detailed information on other fees or minimum investment requirements
Final Words
To make the most of commission-free trading in Canada this January, take time to compare the features and current offers of top brokers like Wealthsimple Trade, Questrade, Qtrade, and National Bank Direct Brokerage to find the best fit for your investment goals. Staying informed and evaluating your options will help you maximize value and trade confidently.
Frequently Asked Questions
Wealthsimple Trade offers commission-free trading on Canadian stocks and ETFs with no account maintenance or inactivity fees. It also stands out by providing access to cryptocurrency trading with full wallet functionality, making it versatile for various investors.
Yes, Wealthsimple Trade provides access to cryptocurrency trading along with full wallet functionality, allowing users to buy, sell, and hold cryptocurrencies directly within the platform.
No, Wealthsimple Trade does not charge any account maintenance or inactivity fees, helping investors keep their costs low while trading Canadian stocks, ETFs, and cryptocurrencies.
Other top commission-free brokers in Canada include Questrade, National Bank Direct Brokerage, and Qtrade, all offering $0 commissions on stock and ETF trades with no minimum investment requirements.
Most leading commission-free brokers like Questrade and National Bank Direct Brokerage do not have minimum investment requirements or inactivity fees. However, it's important to review each broker’s terms to confirm no hidden charges.
Consider factors such as commission fees, access to markets (including cryptocurrencies), account fees, and additional features like trading tools or wallet functionality. Comparing brokers like Wealthsimple Trade, Questrade, and National Bank Direct Brokerage can help identify the best fit.
