Wealthsimple Trade charges $0 commission on Canadian stocks and ETFs on its standard plan — the cheapest way to trade in Canada, full stop. Questrade splits the difference: ETF purchases are free, stock trades run $4.95-9.95 — a fair middle ground if you want a more established platform underneath you. Bank-owned brokerages still charge close to $10 a trade no matter how much you hold with them.
Centsable's editorial team, fact-checked and updated July 2026.
Our editors' top picks from the full list below, based on rate, fees, and real-world value.
Questrade offers free ETF purchases and low-cost stock trades ($4.95-$9.95), making it a longstanding default for Canadian self-directed investors.
$0 commission on Canadian stocks and ETFs makes Wealthsimple Trade an easy entry point for new investors, inside the same app as Wealthsimple's other products.
Interactive Brokers offers some of the lowest per-trade costs available to Canadians, aimed at more advanced or high-volume traders who value cost efficiency over a beginner-friendly interface.
All providers we track, sorted by rate. Click any column header to re-sort.
| Broker | Stock Trade Cost | ETF Cost | USD Account | Platforms | Apply |
|---|---|---|---|---|---|
| Questrade | $4.95-$9.95/trade ($0.01/share) | $0 to buy, $4.95-$9.95 to sell | Yes, no forced conversion on USD trades | Web, desktop (IQ Edge), mobile | Open → |
| Wealthsimple | $0 commission | $0 commission | $10/mo (Trade Plus) or free at $100k+ assets; otherwise 1.5% FX fee | Mobile app, web | Open → |
| Interactive Brokers | Tiered from ~$0.005/share (US), min $1/order | Same as stock commission (no separate ETF pricing) | Yes, true multi-currency; FX at ~$2 min/order | Web, desktop (TWS), mobile | Open → |
| RBC Direct Investing | N/A | N/A | N/A | N/A | Open → |
| National Bank Direct Brokerage | N/A | N/A | N/A | N/A | Open → |
Rates as of July 23, 2026. Promotional rates apply to eligible new deposits only.
Ranked by rate, fees, CDIC coverage, and overall value for Canadians.
Questrade offers free ETF purchases and low-cost stock trades ($4.95-$9.95), making it a longstanding default for Canadian self-directed investors.
Open Account →
Wealthsimple $0 commission on Canadian stocks and ETFs makes Wealthsimple Trade an easy entry point for new investors, inside the same app as Wealthsimple's other products.
Open Account →Interactive Brokers offers some of the lowest per-trade costs available to Canadians, aimed at more advanced or high-volume traders who value cost efficiency over a beginner-friendly interface.
Open Account →Rates as of July 23, 2026. Rates subject to change without notice. Promotional rates apply to new eligible deposits only. Centsable may earn a commission if you apply through our links — this does not affect our ratings.
Our full take on each pick — who it's for, what we like, and what to watch out for.
Questrade offers free ETF purchases and low-cost stock trades ($4.95-$9.95), making it a longstanding default for Canadian self-directed investors.
Best for: Best overall for active investors | Rate: N/A | Fee: Free ETF buys, $4.95-$9.95/stock trade | CDIC: CIPF protected
$0 commission on Canadian stocks and ETFs makes Wealthsimple Trade an easy entry point for new investors, inside the same app as Wealthsimple's other products.
Best for: Best for beginners, commission-free trading | Rate: N/A | Fee: $0 standard / $10/mo Premium | CDIC: CIPF protected
Interactive Brokers offers some of the lowest per-trade costs available to Canadians, aimed at more advanced or high-volume traders who value cost efficiency over a beginner-friendly interface.
Best for: Lowest-cost platform for high-volume/advanced traders | Rate: N/A | Fee: | CDIC: CIPF protected
Best for: | Rate: N/A | Fee: Free select ETF trades, $0 account maintenance, $9.95/stock trade ($6.95 at 150+ trades/quarter) | CDIC: CIPF protected
Best for: | Rate: N/A | Fee: $0 commission on all online stock & ETF trades | CDIC: CIPF protected
Everything you need to know, answered clearly.
For most Canadian investors: Questrade (free ETF purchases, $4.95–$9.95 stocks, robust platform) or Wealthsimple Trade ($0 commissions, best mobile app). For active traders needing advanced tools, Qtrade or Interactive Brokers are stronger.
At Questrade: buying ETFs is free, selling costs $4.95–$9.95. At Wealthsimple Trade and NBDB: $0 to buy and sell. At TD or RBC Direct Investing: $9.99 each way. The ETF's MER (e.g. 0.20% for XEQT) is separate from trade commissions.
Yes. Most major brokerages are regulated by CIRO and are CIPF members — protecting client assets up to $1 million per account category if the brokerage fails. This protects holdings against brokerage insolvency, not market losses.
Robo-advisors automatically build and rebalance portfolios (0.40–0.50% annual fee). Self-directed lets you buy ETFs directly (MER only, 0.10–0.25%). If you're comfortable buying a few all-in-one ETFs (like XBAL or VGRO), self-directed typically wins on cost.
Yes. All major brokerages offer TFSA, RRSP, FHSA, and non-registered accounts. A brokerage TFSA holds stocks, ETFs, and bonds — more powerful than a savings TFSA if you're investing long-term.
Our editorial team researches and updates this page on a monthly basis. We evaluate products on five criteria: interest rate (weighted most heavily), fees and minimums, CDIC deposit insurance, ease of use, and additional account features. We do not accept payment to rank products — our recommendations are editorially independent. We may earn a commission if you apply through our links; this does not influence our ratings or which products appear on this page.
Data sources: We pull rates directly from each institution's website and verify them on the date shown. Promotional rates are noted separately and sourced from the institution's published offers at time of writing.
Read our full ratings methodology or browse our related guides.
RBC Direct Investing 
National Bank Direct Brokerage