Best online broker overall
Questrade Self-Directed Investing
91/100Free USD accounts and the widest account choice at $0 commissions
See detailsInvesting · Updated Oct 16, 2026
Best investing platforms in Canada
Compare 14 online brokers and 6 robo-advisors by what they actually cost you in a year — commissions, account fees and welcome offers in dollars.
- $0-commission brokers
- 7 of 14
- Lowest robo-advisor fee
- 0.25%
- Most cash on $25k
- $750
- Cheapest FX conversion
- 0.002%
No commission or account fee on $25k
Questwealth Portfolios
TD Easy Trade, RBC Direct Investing, TD Direct Investing
Interactive Brokers
Top picks · October 2026
Our picks right now
Best robo-advisor
Questwealth Portfolios
0.25%management fee on $50,000
See detailsBiggest welcome offer
TD Easy Trade
$750on a $25k transfer · Up to 3% cash back, max $15,000
See detailsCheapest US dollar conversion
Interactive Brokers Canada
0.002%About 0.002% of the amount (US$2 minimum per conversion)
See detailsBest all-in-one app
Wealthsimple Self-Directed Investing
$0a year of trades · fractional shares
See detailsBest big-bank brokerage
BMO InvestorLine Self-Directed
80/100$0 trades · admin fees eliminated Sept 14, 2026
See detailsOnline brokers
Best online brokers at a glance
| # | Broker | Score | Stock & ETF trade | Yearly cost | Currency conversion | Welcome offer |
|---|---|---|---|---|---|---|
| 1 | Questrade Self-Directed Investing | 91/100 | $0 | $0$25,000 · 24 trades a year | 1.5%Free USD accounts, including TFSA and RRSP | $100 on $25kEnds Nov 2, 2026 |
| 2 | Qtrade Direct Investing | 88/100 | $0 | $0$25,000 · 24 trades a year | Not published | $650 on $25kEnds Jan 5, 2027 |
| 3 | Interactive Brokers Canada | 83/100 | $1 per order | $24$25,000 · 24 trades a year | 0.002%Multi-currency accounts, including registered | — |
| 4 | BMO InvestorLine Self-Directed | 80/100 | $0 | $0$25,000 · 24 trades a year | Not published | — |
| 5 | Desjardins Online Brokerage (Disnat) | 80/100 | $0 | $0$25,000 · 24 trades a year | 0.15%–1.9% | — |
| 6 | Wealthsimple Self-Directed Investing | 80/100 | $0 | $0$25,000 · 24 trades a year | 1.5% | $250 on $25k |
| 7 | TD Easy Trade | 75/100 | 100 free a yearthen $9.99 | $0$25,000 · 24 trades a year | Not published | $750 on $25kEnds Oct 23, 2026 |
| 8 | National Bank Direct Brokerage | 73/100 | $0 | $0$25,000 · 24 trades a year | 1.7% | — |
Yearly cost = 24 Canadian stock or ETF trades of $1,000 plus account fees on a $25,000 TFSA. Welcome offer value assumes a $25,000 transfer into a registered account.
Welcome offers
Brokerage sign-up and transfer bonuses
TD Easy Trade
Up to 3% cash back, max $15,000
3% of assets transferred into TFSAs, RRSPs and FHSAs, 1% for cash accounts, on $2,500+.
$750 on a $25k transfer · code CASHBACK 8 days left
RBC Direct Investing
Up to 3% cash back, max $15,000
3% of assets transferred into registered accounts, 1% for non-registered, on $2,500+.
$750 on a $25k transfer 18 days left
TD Direct Investing
Up to 3% cash back, max $15,000
3% of assets transferred into registered accounts, 1% for non-registered, on $2,500+.
$750 on a $25k transfer · code CASHBACK 8 days left
Qtrade Direct Investing
Up to $5,000 cash back
5% back on $1,000–$10,000, then $550 to $5,000 by deposit tier, plus $100 if you fund $25,000+ in your first 30 days.
$650 on a $25k transfer · code OFFER2026 Ends Jan 5, 2027
Wealthsimple Self-Directed Investing
1% transfer match, up to $20,000
Register for the match, then transfer $25,000+ from another institution within 30 days. Paid in 24 monthly instalments.
$250 on a $25k transfer
Webull Canada
$150 transfer bonus
Webull lists a $150 bonus for transferring assets in. Minimums and dates are in its offer terms.
$150 on a $25k transfer
Robo-advisors
What a robo-advisor costs on $50,000
- Questwealth Portfolios$125
- Wealthsimple Managed Investing$250
- RBC InvestEase$250
- Justwealth$250
- CI Direct Investing$300
- BMO SmartFolio$350
Annual management fee before tax. Fund MERs are charged on top inside the ETFs.
How to choose
How to choose an investing platform
- Decide who picks the investmentsOnline brokers are cheapest if you’ll choose your own ETFs. Robo-advisors build and rebalance a portfolio for a yearly fee.
- Add up a year of costsCommissions × your trades, plus account fees at your balance. A $9.99 trade costs $240 a year at two trades a month.
- Check the accounts you needTFSA, RRSP and FHSA are everywhere; RESP, RRIF, LIRA and RDSP are not.
- Mind the currency conversionBuying US stocks from CAD often costs 1.5%–1.7% each way. Free USD accounts or low-cost FX save more than $0 commissions.
- Time your transfer with an offerTransfer bonuses pay up to 3% and many brokers refund the $150 transfer-out fee.
Method
How we score platforms
Online brokers
- Trading cost40
- Account choice20
- US investing15
- Features15
- Welcome offer10
Robo-advisors
- Management fee50
- Account choice20
- Minimum to start15
- Extras15
Our scenarios
- Starter$5,000 · 12 trades a year
- Growing$25,000 · 24 trades a year
- Active$100,000 · 120 trades a year
Fees come from each provider’s official fee schedule, checked Oct 16, 2026. Commission never changes a score.
Guides
Investing guides
FAQ
Investing questions
What is the best online broker in Canada?
By WalletReturn score, Questrade Self-Directed Investing leads at 91/100 (free USD accounts and the widest account choice at $0 commissions), followed by Qtrade Direct Investing (88) and Interactive Brokers Canada (83). Scores weigh trading cost, account choice, US investing, features and welcome offers.
What is the cheapest way to invest in Canada?
7 of the 14 brokerages we compare charge $0 to buy and sell Canadian stocks and ETFs with no account fee on a $25,000 account: Wealthsimple, Questrade, Qtrade, National Bank, BMO InvestorLine, Disnat, TD Easy Trade. The cheapest robo-advisor is Questwealth Portfolios at 0.25%; 0.20% from $100,000.
Should I use an online broker or a robo-advisor?
Use an online broker if you’re comfortable choosing and buying your own ETFs or stocks — it’s the cheapest option. Use a robo-advisor if you want a portfolio built, rebalanced and managed for you; you’ll pay a management fee of about 0.25% to 0.70% a year plus fund costs.
Is my money safe with an online broker?
Brokerages that are CIRO members are covered by the Canadian Investor Protection Fund (CIPF), which protects up to $1 million per account category if the firm becomes insolvent. CIPF does not cover investment losses from market moves.
Can I transfer my investments without paying fees?
Usually. Most brokers charge about $150 to transfer an account out, but many new brokers reimburse it — for example Wealthsimple (covers your old broker’s transfer fees on $25,000+); Questrade (reimburses up to $150 per account you transfer in); National Bank (may reimburse transfer fees, depending on the amount); RBC Direct Investing (up to $200 back on transfers of $15,000+).
How do you score investing platforms?
Brokers are scored out of 100: trading cost 40, account choice 20, US investing 15, features 15 and welcome offer 10. Robo-advisors: management fee 50, account choice 20, minimum to start 15 and extras 15. Every input is a published fee or feature, and commission never changes a score.
WalletReturn is independent. We may earn a commission when you open an account through some links; that never changes our scores or our numbers. Fees and offers change — confirm them with the provider before you open an account. This is general information, not investment advice. Investments are not guaranteed; CIPF protection covers missing client property if a member firm fails, not market losses.