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, plus full cryptocurrency wallet access. Users can trade cryptocurrencies directly within the app without extra charges.
View Deal →Ideal for casual investors interested in both stock and crypto trading without fees, Wealthsimple Trade combines simplicity with broad asset access. Its crypto wallet feature sets it apart from many other commission-free brokers in Canada.
Pros:
- Commission-free trading on Canadian stocks and ETFs
- No account maintenance or inactivity fees
- Full cryptocurrency wallet functionality with crypto trading access
Cons:
- Limited to Canadian stocks and ETFs for commission-free trades
- May lack advanced trading tools for experienced investors
- No access to international stock exchanges
2.Questrade
Questrade offers zero commission trading on stocks and ETFs with no minimum investment, annual fees, or inactivity fees. It also provides access to over 15 international exchanges.
View Deal →Questrade stands out by combining commission-free trades with a wide range of international market access, making it a versatile choice for investors seeking global options without hidden fees.
Pros:
- No commissions on stock and ETF trades
- No minimum investment requirement
- No annual or inactivity fees
- Access to 15+ international exchanges
Cons:
- No specific newcomer offers or cash back incentives mentioned
- No mention of cryptocurrency trading options
- Limited details on platform features or tools in the provided research
3.National Bank Direct Brokerage
National Bank Direct Brokerage offers $0 commission on all stock and ETF trades in Canadian and U.S. markets with no minimum investment required. It is backed by the security of a major Canadian bank.
View Deal →Ideal for investors seeking commission-free trading paired with the reliability of a major Canadian financial institution, National Bank Direct Brokerage delivers straightforward and cost-effective access to both Canadian and U.S. markets.
Pros:
- No commissions on stock and ETF trades in Canadian and U.S. markets
- No minimum investment requirement
- Supported by a major Canadian bank, providing added security
Cons:
- Limited information on advanced trading tools or international market access
- No mentioned promotions or special offers beyond commission-free trades
- Less known for specialized features compared to some competitors
4.CIBC Investor's Edge
CIBC Investor's Edge offers commission-free trading optimized for large volume trades, with an average cost of $6.95 per trade. It targets investors who execute high-volume transactions.
View Deal →Ideal for high-volume traders, CIBC Investor's Edge balances commission-free options with a modest average trade cost, making it a strong choice for active investors.
Pros:
- Optimized for large volume trades
- Average trade cost of $6.95
- Backed by a major Canadian bank
Cons:
- Not fully commission-free, average $6.95 per trade
- Less attractive for low-volume or casual investors
- Limited mention of additional features or incentives
5.Moomoo Financial Canada
Moomoo Financial Canada offers commission-free stock and ETF trading with an average cost of $1.49 per trade, aimed at active investors. It provides a low-cost option for frequent trading in the Canadian market.
View Deal →Active investors seeking affordable trading will find Moomoo Financial Canada appealing due to its low average trade cost and commission-free structure. While not fully free, its pricing remains competitive for regular traders.
Pros:
- Commission-free stock and ETF trading
- Average cost of $1.49 per trade, suitable for active investors
- Designed with active traders in mind
Cons:
- Not completely commission-free as there is an average cost per trade
- May not be ideal for casual or infrequent investors
- Limited information on additional features or market access
6.TD Direct Investing
TD Direct Investing offers commission-free trades with a newcomer deal of 10 commission-free trades, 2% cash back on transfers over $10,000, and waived maintenance fees for one year. This makes it a cost-effective choice for new investors starting with TD.
View Deal →New investors looking to minimize initial costs can take advantage of TD Direct Investing's newcomer incentives, which soften the entry with free trades and cash back rewards. It’s a strong option for those wanting to explore TD’s platform without upfront fees.
Pros:
- 10 commission-free trades for newcomers
- 2% cash back on transfers of $10,000 or more
- No maintenance fees for the first year
Cons:
- Commission-free trades limited to the initial 10 for new clients
- Cash back only applies to transfers of $10,000+
- No detailed info on ongoing commission costs after newcomer offer
7.Qtrade
Qtrade offers free trading on a select list of 100 Canadian ETFs and provides discounts for active traders. It is designed to reward higher trading activity with cost savings.
View Deal →Active investors looking to minimize fees on ETF trades will find Qtrade appealing due to its free ETF list and trader discounts. It balances cost savings with a focused ETF selection.
Pros:
- Free trading on a curated list of 100 Canadian ETFs
- Discounts available for active traders
- No mention of account or inactivity fees
Cons:
- Free trades limited to a specific list of ETFs, not all offerings
- No details on commissions for other securities
- May not be ideal for investors seeking broad commission-free trading across all stocks or ETFs
Final Words
To make the most of commission-free trading in Canada this February, take time to compare your options carefully and review the latest offers from top brokers to find the best fit for your investment goals and trading style. Staying informed and proactive will help you maximize your savings and grow your portfolio efficiently.
Frequently Asked Questions
Wealthsimple Trade offers commission-free trading on Canadian stocks and ETFs with no account maintenance or inactivity fees. It also provides full cryptocurrency wallet functionality, allowing users to trade cryptocurrencies seamlessly.
Yes, Wealthsimple Trade includes full cryptocurrency wallet access, enabling users to buy, sell, and hold cryptocurrencies commission-free alongside stocks and ETFs.
No, Wealthsimple Trade does not charge any account maintenance or inactivity fees, making it a cost-effective option for casual and active traders alike.
No, brokers like Questrade and National Bank Direct Brokerage do not require a minimum investment for commission-free stock and ETF trades, offering flexibility for investors with varying budgets.
Questrade stands out by providing zero commissions on stock and ETF trades with access to more than 15 international exchanges, broadening investment opportunities beyond Canada.
Yes, TD Direct Investing offers a newcomer promotion that includes 10 commission-free trades, 2% cash back on transfers over $10,000, and waived maintenance fees for one year.
