Best Online Brokers in Canada
Discover 5 deals available this month.
1.Qtrade Direct Investing
Qtrade Direct Investing is a top-ranked Canadian online broker for 2026, offering free ETF trades and active trader discounts. New users can also access up to $5,000 in cash back promotions.
View Deal →Qtrade stands out with its user-friendly platform and attractive cash back deal, making it a strong choice for those seeking cost-effective ETF trading and active trading benefits.
Pros:
- Free trading on ETFs
- Discounts available for active traders
- Up to $5,000 cash back promotion
- Highly rated platform usability
Cons:
- Cash back offer may have eligibility requirements
- Limited information on pricing for non-ETF trades
- Not highlighted for low commissions on all trade types
2.TD Direct Investing
TD Direct Investing is a big bank brokerage offering a superior desktop trading platform with comprehensive tools for investors at all levels. It receives positive user reviews for its robust features and usability.
View Deal →Investors who prioritize a reliable, feature-rich desktop experience will find TD Direct Investing a solid choice with extensive tools suited for beginners through advanced users.
Pros:
- Superior desktop trading platform
- Comprehensive tools for all investor levels
- Positive user reviews indicating strong customer satisfaction
Cons:
- No specific pricing or commission details mentioned
- Lacks promotional deals or cash-back offers compared to competitors
- May not be the best option for cost-conscious or commission-free trading
3.Questrade
Questrade offers competitive fees and is well-suited for larger trades, supporting Norbert's Gambit with no FX spread. It provides reliable features tailored for Canadian investors.
View Deal →Savvy Canadian investors looking to minimize currency exchange costs will appreciate Questrade's support for Norbert's Gambit without FX spreads. Its fee structure favors larger trades, making it a solid choice for active traders.
Pros:
- Competitive fee structure ideal for high-volume trading
- Supports Norbert's Gambit with no foreign exchange spread
- Reliable platform features geared towards Canadian investors
Cons:
- Not the lowest cost option for small or infrequent trades
- Less focused on beginner-friendly tools compared to some competitors
- No mention of promotional offers or cash back incentives
4.Wealthsimple Trade
Wealthsimple Trade offers commission-free trading through a user-friendly app that is highly rated. It is designed for beginners and cost-conscious investors.
View Deal →Ideal for new and budget-conscious investors, Wealthsimple Trade delivers easy access to stock trading with no commission fees and an intuitive mobile experience.
Pros:
- Commission-free trading with no fees per trade
- Highly rated and user-friendly mobile app
- No account minimums, lowering barriers to entry
Cons:
- Limited advanced trading tools compared to competitors
- Primarily suited for beginners, less ideal for active or professional traders
- Fewer investment options beyond stocks and ETFs
5.National Bank Direct Brokerage
National Bank Direct Brokerage offers zero-commission trading with no account minimums and highly rated mobile and desktop apps. It is competitive for active traders seeking cost-effective options.
View Deal →Active traders looking for a commission-free platform with reliable apps will find National Bank Direct Brokerage a strong contender in Canada’s online brokerage space.
Pros:
- Zero commissions on trades
- No account minimum requirements
- Highly rated mobile and desktop trading apps
- Competitive option for active trading
Cons:
- Limited advanced trading tools compared to some competitors
- Fewer promotional offers or cash back deals available
- May lack some features favored by very advanced investors
Final Words
To find the best fit for your investing needs this February, take time to compare features, fees, and current promotions across top Canadian online brokers. You can explore each platform’s unique benefits to secure the best deals and services tailored to your financial goals.
Frequently Asked Questions
Qtrade Direct Investing is top-ranked due to its excellent platform usability, free ETF trades, active trader discounts, and a promotional offer of up to $5,000 in cash back for new users. These features make it highly attractive for Canadian investors.
Yes, new users of Qtrade Direct Investing can access up to $5,000 in cash back promotions, making it a compelling choice for those starting or switching brokers.
Yes, Qtrade Direct Investing offers free ETF trades, which reduces trading costs for investors focusing on exchange-traded funds.
When selecting an online broker, consider platform usability, trading fees, available tools, promotions, and support for trading strategies like Norbert's Gambit. It's also useful to compare commission structures and account minimums.
Wealthsimple Trade and National Bank Direct Brokerage both offer commission-free trading, making them ideal options for beginners and cost-conscious investors.
Questrade is known for competitive fees and strong features for larger trades, including no FX spread on Norbert's Gambit, while TD Direct Investing offers a superior desktop platform with comprehensive tools suited for all investor levels.
