Canadians might not be as invested in stocks as their neighbors to the south, but there’s still brisk demand for investing platforms.
Depending on the study, anywhere between 30% and 40% of Canadians buy and sell stocks, compared to roughly 60% of Americans. Still, stocks are the country’s top investment choice, favored by 46% of investors, according to a HelloSafe survey. The same survey showed that nearly two-thirds of Canadians prefer to invest on their own.
That translates into millions of independent investors—plenty of fuel for a robust market of brokers. Indeed, Canadians have access to roughly 200 brokerage firms. And much like how the country’s fast food choices are a mixture of both Canadian (Tim Hortons, Harvey’s, Swiss Chalet) and American/international (McDonald’s, Subway, A&W) operators, so too are the brokers Canadians can trust with their nest eggs.
Of course, you don’t need 200 brokerage firms. You only need one. So, to make your decision much easier, I’m going to whittle the country’s offerings down to a handful of the best brokers for Canadians. From there, you should be able to find a broker that best suits your needs.
The Best Brokers for Canadians—Our Top Picks
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Flexible Broker w/Transparent Fees
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Best for Cost-Conscious Investors
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Best for Feature-Rich Investing
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4.0
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4.5
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3.9
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No account minimums. $100 annual fee (can be waived)* Commission rates below.
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No account minimums. Commission rates below.*
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No account minimums. No commissions on stocks, mutual funds, ETFs, and options.* U.S. dollar registered account fee: $15/mo.**
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1. CIBC Investor’s Edge (Flexible Canadian Broker With Transparent Fees)
- Available: Sign up here
- Best for: Beginner to intermediate investors
- Platforms: Web, mobile app (Apple iOS, Android)
CIBC Investor’s Edge is a workhorse online broker that provides a satisfying experience for investors across the proficiency spectrum while charging relatively modest and transparent fees.
Investor’s Edge allows you to trade not only U.S. and Canadian stocks and ETFs, but also options, mutual funds, and bonds. And you can do so from non-registered accounts, as well as a variety of registered accounts, including FHSAs, TFSAs, RRSPs, RESPs, and more.
The Investor’s Edge platform also provides a variety of screening and charting tools, analyst reports, customizable watchlists and alerts, Regular Investment Plans, and more. You can also stay informed and up to date through CIBC’s investor learning center—which includes topics such as Investing 101, How to Trade Options, and (as you’d expect) how to trade using the Investor’s Edge platform—as well as expert videos and webinars, and various newsletters.
Note that, in addition to flat commission fees (listed below), CIBC Investor’s Edge does sometimes charge an account fee. Specifically, you’ll pay $0 when the balance of all CIBC Investor’s Edge accounts is greater than $10,000, but $100 annually if the balance is $10,000 or less. That said, CIBC requires no minimum account balance.
And CIBC is a screaming deal for younger investors. Anyone ages 18 to 24 can start trading stocks and ETFs online for free—no annual fee, and no commissions—if they first open a CIBC Smart Account with CIBC Smart Start.
Whether you’re looking to get started, or are an experienced investor who just wants to lower their commissions, check out CIBC Investor’s Edge today.
- CIBC Investor's Edge is a straightforward, easy-to-use brokerage platform that allows access to a variety of investments—including stocks, ETFs, options, mutual funds, bonds, and more—at reasonable and transparent costs.
- Modest commissions. U.S. and Canadian stocks, ETFs, and mutual funds: $6.95 per trade for investors (150 or fewer trades per quarter); $4.95 per trade for active traders (150+ trades per quarter). Money market mutual funds: $0. Mutual funds: $6.95. Options trades also include a $1.25 contract fee.**
- Available account types include: Non-registered, FHSA, TSFA, RRSP, RESP, RRIF, LIRA, LRSP, LRIF, PRIF.
- Suite of investing and trading tools includes screening, charting, watchlists, alerts, news, education center, and more.
- Special offer: Clients can get 100 free online stock and ETF trades when they open a new eligible account and up to $15,000 cash back when they transfer funds from outside CIBC to their new or existing Investor’s Edge account.***
- Very good selection of available investments
- Large selection of registered accounts
- Modest commissions
- No minimum account balance
- Trading tools not as advanced as many other competitors' offerings
- $100 annual fee for low-balance accounts
2. Interactive Brokers (Best Canadian Broker for Cost-Conscious Investors)
- Available: Sign up here
- Best for: Cost-conscious traders; Intermediate and advanced traders
- Platforms: Desktop (PC, Mac), web, mobile app (Apple iOS, Android)
Interactive Brokers (IBKR), founded in 1978, is one of the world’s most powerful online trading platforms, offering Canadians access to stocks, bonds, funds, options, futures, inter-commodity spreads, and more. All told, this single brokerage platform plugs you into 170 markets across 40 countries and with 29 currencies.
IBKR is also the most cost-effective trading platform in the country. That’s because not only does the trading platform offer the lowest commissions on trades, it also has the most competitive foreign exchange fees factored into those trading costs, and its margin rates are as much as 55% below the industry average.
But if cost alone isn’t justification enough to use IBKR as your broker, the robust platform’s other trading features might sway your decision.
IBKR’s Trader Workstation (TWS) is Interactive Brokers’ flagship desktop program—a trading platform with roots back to 1995. But since then, the company has launched a number of other access points for Canadian investment accounts, including:
- IBKR Desktop: This desktop trading platform combines the most popular tools from its flagship Trader Workstation (TWS) with new tools such as a powerful MultiSort screener and Options Lattice, as well as a growing suite of original features suggested by IBKR clients.
- IBKR Mobile: A powerful app for iOS and Android that allows people to trade on the go
- IBKR GlobalTrader: A simplified app for iOS and Android that targets global traders, allowing trading in more than 90 stock markets. Includes fractional share capabilities.
- Client Portal: A lighter web-based platform allowing clients to manage their account, evaluate performance, and read market news
- IBKR Impact: A mobile app that helps investors select holdings most in line with their values.
But Workstation remains the workhorse. The platform offers a wide variety of features, including real-time monitoring, risk management tools, paper trading—all packaged under a heavily customizable layout.
While TWS users can still select the original view, they can build their own bespoke view through Mosaic. Functions such as stock monitoring, order entry, charts, and more appear as “tiles,” sized and arranged however you want them, and you can save custom layouts designed for one or more monitors.
Trader Workstation also lets investors:
- Create example watchlists
- Use preset scans or build your own
- Create real-time trading alerts using price, time, margin, and volume
- Access more than 100 order types and algorithms to execute better trades
- Read breaking news from Reuters, Dow Jones, and other news outlets
- Access research from Morningstar, Zacks, and other firms
IBKR is arguably the best online broker for advanced and day traders, though it can fit the bill for less experienced users, too. That’s especially true with its clear cost advantage in Canada compared to other broker options. You can visit Interactive Brokers to sign up or learn more.
- Interactive Brokers allows you to trade stocks, ETFs, bonds, options, futures, currencies, and other investments from 170 markets across 40 countries. And you can do so using either IBKR's powerful legacy Trader Workstation desktop software or its web and mobile platforms.
- Access features including watchlists, preset or customized stock scans, real-time trading alerts, advanced order types, and news and research from numerous leading provider.
- Customize your Trader Workstation view through the Mosaic feature.
- Low commissions and low foreign exchange fees. IBKR offers two different sets of rates: tiered (based on volume) and fixed. Tiered, Canadian: CAD 0.3¢-0.8¢ (minimum CAD $1.00 per trade). Fixed, Canadian: CAD 1¢ (minimum CAD $1.00 per trade). Tiered, U.S.: USD 0.05¢-0.35¢ (minimum USD 35¢ per trade). Fixed, U.S.: USD 0.5¢ (minimum USD $1.00 per trade).
- Example trading costs. 50 shares of stock worth CAD 2,000 has total trading cost (inclusive of foreign exchange fees) of CAD 2.52. For 100 shares of stock worth CAD 5,000, the total cost comes to CAD 2.70 and for 200 shares of stock worth CAD 10,000 it's only CAD 3.40.
- Low margin rates. 2.64%-4.64% CAD, 4.14%-6.14% USD, based on volume.
- High interest rates. Up to 3.14% on uninvested cash.
- Available account types: Non-registered, TFSA, RRSP.
- Excellent selection of available investments
- Extremely feature-rich desktop (Trader Workstation) and app (IBKR Mobile) platforms to satisfy even the most advanced traders
- Below-average options contract fees
- Trader Workstation Mosaic view is versatile and highly customizable
- Offers competitive interest on uninvested cash
- Various additional charges for certain market data
- Mobile app can be slightly clunky at times (but has improved significantly in recent years)
3. Qtrade Direct Investing (Feature-Rich Investment Broker)
- Available: Sign up here
- Best for: Beginner and intermediate investors
- Platforms: Web, mobile app (Apple iOS, Android)
Qtrade Direct Investing is one of Canada’s best online brokers, providing access to Canadian and U.S. stocks, ETFs, mutual funds, bonds, and more via its award-winning web and mobile platforms, which are backed by Qtrade’s highly decorated customer support staff.
It’s also one of the cheapest thanks to a recent upgrade on its cost structure. Qtrade Directing Investing recently introduced $0 commissions on equity, mutual fund, ETF, and options trades*, and eliminated its quarterly administration fee.
You get a whole lot for no cost, too.
Qtrade provides investors with a wealth of tools and insights. You can get analyst recommendations from Morningstar. You can monitor stocks using Qtrade watchlists, or seek out stocks that meet your criteria using screeners. And Qtrade’s Portfolio Creator can help you build an ETF portfolio from scratch just by answering a few questions.
More active traders will enjoy customized charting and technical analysis capabilities, as well as Portfolio Simulator, which lets you test out trade ideas without putting your money at risk.
Qtrade offers holistic financial tools, too, such as savings, investment, and retirement calculators, which can help you set and follow your progress toward important life goals.
And no matter your experience level, you’ll find something useful in Qtrade’s extensive set of learning resources, which includes guides and how-to videos spanning basics like buying and selling stock to more advanced actions like margin trading and options trading.
Most investors will typically be slotted into the Investor tier. However, more active traders and high-account-balance investors can enjoy reduced commissions and fees with an Investor Plus account, which requires either 150-plus trades per quarter and/or $500,000-plus in assets per client ID. Most notably, Investor Plus clients enjoy cheaper equity, fund, and options trades, and avoid having to pay a fee for USD registered accounts.
Use our unique link to view any exclusive bonuses and sign up for Qtrade.
- Qtrade is one of Canada's top stock brokers, offering not just access to Canadian and U.S. stocks, ETFs, mutual funds, bonds, and more, but a wide set of tools and learning resources for investors and traders of all experience levels.
- Qtrade has recently introduced commission-free trading for stocks, mutual funds, ETFs, and options.* Options still require a contract fee, but that too has been reduced, from $1.25 per contract to 75¢ per contract. Fixed income and exchange-traded debentures fee remains at $1 per $1,000 face value ($24.99 minimum, $250 maximum).
- Available account types include: Non-registered, TFSA, RRSP, FHSA, LIRA, LRSP, RESP, RRIF, LIF.
- Features include watchlists, screeners, customized charting and technical analysis capabilities, Portfolio Simulator, and access to Morningstar analyst recommendations.
- Special offer: Use promo code QTRADE2025 to get up to $2,000 cash back on your deposit. Get up to 5% cash back on every dollar deposited up to $15,000, for as much as $750 in cash rewards. For every dollar deposited above $15,000, you get 1% cash back, up to another $1,250 in cash rewards.***
- Commission-free trading on most major assets
- Good selection of available investments
- Wide array of investing and trading tools
- Low margin rates
- Above-average options contract fees
4. WealthSimple (Best for Managed Investment Services)
- Available: Sign up here
- Best for: Investors who want managed investment services
- Platforms: Web, mobile app (Apple iOS, Android)
Wealthsimple is a wide-ranging financial platform that offers not only self-directed and managed investment accounts, but also checking, savings, mortgages, and even tax-filing software.
Wealthsimple has no account minimums nor monthly account fees. But it does have three different account tiers based on your assets—Core ($1-$99,999), Premium ($100,000-$499,999), and Generation ($500,000+)—and the higher the tier, the bigger the perks. All of these account tiers can invest via a variety of accounts, including TFSA, RRSP, FHSA, RESP, LIRA, RRIF, and non-registered.
With Wealthsimple’s managed investing services, the firm will customize a portfolio that matches your risk appetite and financial goals. Wealthsimple managed portfolios are built with low-fee ETFs; management fees are 0.5% annually for Core, 0.4% for Premium, and 0.2%-0.4% for Generation (varies by assets)—all much cheaper than the 2% you’d pay for your average Canadian mutual fund. Wealthsimple can help you build growth-focused, balanced, and conservative versions of classic diversified portfolios, socially responsible investing portfolios, and even halal portfolios. Premium and Generation Clients can also access two types of alternative investments—private credit and private equity—and also get access to a dedicated advisor.
Or, if you’re a DIYer, you can choose from thousands of Canadian and U.S. stocks and ETFs, as well as options, with self-directed investing. All tiers can trade stocks and ETFs commission-free. Core account holders can skip a 1.5% forex fee on U.S. assets by paying $10 per month; Premium and Generation account holders get this feature for free. And you can invest as little money as you want; Wealthsimple allows you to trade fractional shares.
Also worth noting: Premium and Generation account holders receive cheaper options trading fees, as well as cheaper fees trading the 60-plus coins on Wealthsimple’s platform.
In addition to investing accounts, Wealthsimple also offers a high-interest checking and savings account—the Cash account—which pays different interest rates based on account type (outlined below). The account includes 1% back rewards in stock or cash, as well as higher interest and faster access to paychecks with qualifying direct deposits. You can also apply for mortgages with Wealthsimple, which provides low rates through direct lender Pine, or even file your taxes for as little as $0 with Wealthsimple’s tax software.
Interested in learning more? Check out Wealthsimple today.
- Wealthsimple is an all-in-one financial and investing solution, providing both managed and self-directed investing accounts, as well as checking, saving, mortgage, and even tax solutions.
- Let Wealthsimple build and maintain a portfolio suited to you through its managed portfolio services. Invest in classic, SRI, or even halal portfolios for 0.5% (Core), 0.4% (Premium), or 0.2%-0.4% (Generation, varies by assets).
- No commission fees for self-directed accounts when trading Canadian and U.S. stocks and ETFs. Core accounts must pay a 1.5% forex fee on U.S. stocks and ETFs, but can avoid the fee by paying $10/month.
- Available account types include: Non-registered, TFSA, RRSP, FHSA, RESP, LIRA, RRIF.
- High-to-decent options contract fees: Core: $2 USD. Premium and Generation: USD 75¢.
- Do your banking through Wealthsimple's Cash account. Earn 4% (Core), 4.5% (Premium), or 5% (Generation) on Cash account balances.
- No-commission trading of Canadian and U.S. stocks and ETFs
- Managed investment services
- Cash/stock rewards with Cash account
- Fractional shares
- High number of account types
- High threshold for Premium accounts
- High options contract fees for Core accounts
FAQs: Best Trading Platforms in Canada
What can I trade through a Canadian stock broker?
Like in most countries, Canadian stock brokers vary in what assets they allow investors and traders to buy and sell. Virtually all online brokers in Canada will allow you to trade stocks and ETFs. Many will also allow you to invest in mutual funds and options. A smaller number will let you buy individual bonds, futures, commodities, and other less-traveled assets.
From a geographical perspective, you’ll almost always receive access to stocks and funds listed on the Toronto Stock Exchange (TSX). However, many Canadian online brokers also provide access to stocks and funds on U.S. exchanges, including the New York Stock Exchange (NYSE) and Nasdaq Stock Exchange (Nasdaq). That American exposure is sometimes offered for free, but sometimes requires forex and/or other fees.
