Best Online Brokers in Canada
Discover 5 deals available this month.
1.Questrade
Questrade is a leading Canadian online brokerage known for $0 commission on ETF purchases and extensive support for registered accounts. It is frequently rated the best overall choice for self-directed investors in Canada.
View Deal →Often topping the charts for self-directed investors, Questrade combines cost-effective ETF trading with broad registered account options, making it a reliable all-rounder.
Pros:
- $0 commission on ETF buys
- Strong support for various registered accounts in Canada
- Highly ranked as the best overall brokerage for self-directed investors
Cons:
- No mention of $0 commissions on stock trades (only ETFs specified)
- May not offer the most advanced tools compared to brokers aimed at professional traders
- Limited beginner-focused features compared to some competitors
2.Wealthsimple Trade
Wealthsimple Trade is a Canadian investing platform offering $0 commissions on stock and ETF trades with a simple, mobile-first experience. It is particularly appealing to beginner investors looking for low-cost, straightforward trading.
View Deal →Beginner investors will find Wealthsimple Trade’s zero-commission stock and ETF trading combined with a user-friendly mobile interface a great way to start investing. Its simplicity and cost structure make it a popular choice in Canada for those new to the market.
Pros:
- $0 commissions on stock and ETF trades
- Mobile-first platform designed for ease of use
- Strong appeal for beginner investors
Cons:
- Limited advanced trading tools compared to other brokers
- May not meet the needs of active or experienced traders
- Primarily designed for simple investing, lacking complex features
3.Interactive Brokers Canada
Interactive Brokers Canada offers very low trading costs and advanced tools tailored for active and experienced traders. It provides access to a wide range of global markets for diversified trading.
View Deal →Active traders in Canada will appreciate Interactive Brokers for its competitive pricing and powerful platform features that support global market access. It’s a standout option for those seeking advanced tools and low fees.
Pros:
- Very low trading costs
- Access to a wide range of global markets
- Powerful trading tools for advanced users
Cons:
- May be complex for beginners
- Less focused on casual or beginner investors
- No mention of $0 commission on ETFs or stocks specifically
4.Qtrade Direct Investing
Qtrade Direct Investing is a well-regarded Canadian brokerage offering a robust platform, comprehensive research tools, and competitive pricing, particularly favorable for ETF investors. It supports a broad range of registered accounts for Canadian investors.
View Deal →Qtrade stands out as a strong choice for investors seeking a reliable platform combined with solid research capabilities and cost-effective ETF trading. Its competitive pricing makes it appealing for those focused on diversified portfolio building.
Pros:
- Strong and user-friendly trading platform
- Comprehensive research tools to support investment decisions
- Competitive pricing structure, especially for ETF trading
Cons:
- Trading commissions may not be $0 unlike some competitors
- Less tailored for highly active or advanced traders
- No mention of a mobile-first design which may affect user experience
5.National Bank Direct Brokerage
National Bank Direct Brokerage offers $0 commission trading on stocks and ETFs, providing a low-cost option for Canadian investors. It is a Canadian-owned platform available nationwide.
View Deal →A solid choice for cost-conscious Canadian investors seeking commission-free stock and ETF trades without sacrificing local ownership.
Pros:
- $0 commission on stock and ETF trades
- Canadian-owned brokerage
- Accessible to investors across Canada
Cons:
- Fewer advanced trading tools compared to some competitors
- Limited global market access
- Less established brand recognition than larger brokers
Did you know?
Automated deposits into a diversified fund beat trying to time the market. Start with an amount you can sustain every month.
Final Words
To make the most of your investments this September, take time to compare these top Canadian online brokers and verify their latest offers to find the best fit for your trading style and goals. By staying informed, you can confidently select a platform that aligns with your needs and maximizes your potential returns.
Frequently Asked Questions
Questrade is often ranked the best overall for self-directed investors in Canada due to its $0 commission on ETF purchases and broad support for registered accounts. Its strong all-round platform makes it a top choice for many investors.
No, Questrade offers $0 commission on ETF buys, which is a key feature that attracts many Canadian investors looking to minimize trading costs.
Questrade provides broad registered-account support in Canada, making it suitable for investors who want to use tax-advantaged accounts alongside self-directed investing.
Wealthsimple Trade is a popular low-cost platform with $0 commissions on stocks and ETFs, a simple mobile-first design, and strong appeal to beginners in Canada.
When selecting a broker, consider factors like trading commissions, account types supported, platform usability, and whether you need advanced tools or global market access to suit your trading style.
Yes, several Canadian brokers including Questrade, Wealthsimple Trade, and National Bank Direct Brokerage offer $0 commission trading on stocks and ETFs, making them cost-effective choices.
