Click any column header to sort. All fees are in CAD unless noted.
| Broker | Stock Trade | Options Base | Options /Contract | ETF Purchase | FX Fee (CAD/USD) | Account Min | Inactivity Fee | Type |
|---|
Three Canadian brokers now offer $0 stock commissions (or close to it). But the total cost depends on currency conversion, account minimums, and available features.
| Feature | Wealthsimple Trade | National Bank Direct | Interactive Brokers |
|---|---|---|---|
| Stock Commission | $0 | $0 | $0.01/share (min $1) |
| Options Trading | Not available | $6.95 + $1.25/contract | $1.50/contract |
| ETF Purchases | $0 | $0 | $0.01/share (min $1) |
| FX Fee (CAD → USD) | 1.5% (0% with Plus) | 1.5% | 0.20% |
| Account Minimum | $0 | $0 | $0 |
| Inactivity Fee | None | None | None |
| Fractional Shares | Yes | No | Yes (US stocks) |
| Registered Accounts | TFSA, RRSP, FHSA | TFSA, RRSP, RESP, FHSA | TFSA, RRSP |
| Mobile App Quality | Excellent | Good | Complex |
| Best For | Beginners, passive investors | Fee-conscious bank clients | Active/advanced traders |
Bottom line: Wealthsimple is the simplest $0 commission option for beginners. National Bank offers $0 commissions with a full-service platform. IBKR is technically not $0 but its per-share pricing is negligible for most trades, and its 0.20% FX fee crushes the competition for US stock purchases. For a $10,000 USD purchase, Wealthsimple charges $150 in FX (or $0 with Plus), National Bank charges $150, and IBKR charges just $20.
If you prefer keeping investments at your bank, here's how Canada's Big Five bank brokerages stack up in 2026:
| Fee Type | TD Direct | RBC Direct | BMO InvestorLine | Scotia iTRADE | Desjardins |
|---|---|---|---|---|---|
| Stock Commission | $9.99 | $9.99 | $9.99 | $9.99 | $9.95 |
| Active Trader Rate | $7.00 | $6.99 | $7.00 | $4.99 | $4.95 |
| Active Threshold | 150/quarter | 150/quarter | 150/quarter | 150/quarter | 30+/quarter |
| ETF Purchase | $9.99 | $9.99 | $9.99 | $9.99 | $9.95 |
| Options (base + /contract) | $9.99+$1.25 | $9.99+$1.25 | $9.99+$1.25 | $9.99+$1.25 | $9.95+$1.25 |
| FX Conversion | ~1.5% | ~1.5–2.0% | ~1.5% | ~1.5% | ~1.5% |
| Account Minimum | $0 | $0 | $0 | $0 | $0 |
| Inactivity Fee | $25/qtr | $25/qtr | $25/qtr | $25/qtr | $30/qtr |
| Inactivity Waived If | >$15K | >$15K | >$25K | >$25K | >$15K |
| RESP Available | Yes | Yes | Yes | Yes | Yes |
Verdict: Bank brokers are nearly identical in pricing. The real differentiators are platform quality, research tools, and whether you value having investments at the same institution as your banking. TD's webBroker and GoalAssist are best-in-class among bank platforms. Scotia iTRADE's FlightDesk is strong for active traders. If fees are your priority, Desjardins has the lowest active trader threshold (30 trades/quarter vs 150 elsewhere) and slightly lower base commissions.
Trading fees were sourced from each broker's official fee schedule and verified against their websites as of March 2026. Where brokers offer tiered pricing, we show the standard (non-promotional) rate. Active trader rates are noted where applicable with their qualification thresholds.
Currency conversion fees represent the typical spread charged on automatic CAD/USD conversions. Actual spreads may vary by trade size and market conditions. Some brokers allow manual foreign exchange via Norbert's Gambit (buying/selling an interlisted stock) to reduce FX costs — this is noted where applicable.
This comparison covers the 10 most widely used self-directed brokerages in Canada. Robo-advisors, full-service wealth management, and crypto-only platforms are not included.
Westmount Research. "Trading Fees Comparison Canada 2026." Published March 21, 2026. https://westmountfundamentals.com/trading-fees-comparison-canada