Best Online Brokerages in Canada

Compare platforms and find the right fit for your investing style.

📋 Disclosure

This is an unbiased comparison. We are not affiliated with any brokerage and do not receive commissions. We just want to help you make the best choice.

Top Canadian Brokerages Compared

Wealthsimple

Best for Beginners

✅ $0 minimum to start
✅ $0 commission on stocks & ETFs
✅ Beautiful, easy-to-use app
✅ Fractional shares available
✅ Auto-invest feature
⚠️ 1.5% currency conversion fee on USD trades (free plan)
⚠️ Limited research tools

Best for: Complete beginners, hands-off investors, small accounts

Questrade

Best Value

✅ Free ETF purchases (pay only when selling)
✅ Low stock commissions ($4.95–$9.95)
✅ More account types (margin, corporate, etc.)
✅ Better research tools
⚠️ $1,000 minimum to open
⚠️ Interface less beginner-friendly

Best for: DIY investors, ETF-focused strategies, growing portfolios

Bank Brokerages (TD, RBC, BMO)

Most Familiar

✅ Linked to your existing bank account
✅ In-branch support available
✅ Full-service research & tools
⚠️ Higher commissions ($6.95–$9.99 per trade)
⚠️ Higher account minimums
⚠️ May push proprietary mutual funds

Best for: People who want everything at one bank, larger portfolios

Interactive Brokers (IBKR)

Most Advanced

✅ Lowest currency conversion fees
✅ Access to global markets
✅ Advanced trading tools
⚠️ Complex interface — steep learning curve
⚠️ Not beginner-friendly

Best for: Experienced investors, US stock trading, large portfolios

Quick Comparison Table

Feature	Wealthsimple	Questrade	Bank
Minimum	$0	$1,000	Varies
ETF buys	Free	Free	$6.95+
Stock trades	Free	$4.95+	$6.95+
Ease of use	⭐⭐⭐⭐⭐	⭐⭐⭐	⭐⭐⭐
Fractional shares	Yes	No	No

🍁 Our Recommendation

If you're just starting out, go with Wealthsimple. It's free, easy, and you can start with any amount. As your portfolio grows past $25K+, consider Questrade for free ETF purchases and lower currency fees.

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