Best Commission Free Brokers in Canada
Discover 6 deals available this month.
1.Wealthsimple Trade
Wealthsimple Trade is a Canadian commission-free broker offering stock and ETF trading with no fee on self-directed accounts and strong support for registered accounts. It provides trading without commission costs across major account types.
View Deal →Wealthsimple Trade stands out for its straightforward commission-free trading and broad registered account options, making it an accessible choice for Canadian investors seeking low-cost investing.
Pros:
- No commissions on stocks and ETFs
- Supports a wide range of registered accounts
- No core fee for self-directed accounts
Cons:
- Limited to stocks and ETFs without advanced trading features
- May lack some tools and research compared to larger brokers
2.Questrade
Questrade is a Canadian brokerage offering $0 commission on stocks and ETFs, suitable for self-directed investors seeking low-cost trading. It provides competitive pricing for DIY investors without account maintenance fees mentioned.
View Deal →DIY investors will find Questrade appealing for its zero-commission stock and ETF trades, making it a cost-effective choice for managing investments independently.
Pros:
- No commission on stocks and ETFs
- Strong all-around broker for self-directed investing
- Competitive pricing with no core self-directed account fees noted
Cons:
- No specific mention of commission-free trading on mutual funds
- Limited details on account fees and other charges
- May lack some features compared to newer commission-free platforms
3.National Bank Direct Brokerage
National Bank Direct Brokerage is a Canadian bank-owned platform offering $0 commission on stocks and ETFs, with potential account-level fees based on balance and activity. It provides commission-free trading but may charge fees depending on account status.
View Deal →Ideal for investors seeking commission-free trades through a bank-owned brokerage, though account fees may apply depending on your balance and activity levels.
Pros:
- No commission fees on stocks and ETFs
- Backed by a reputable Canadian bank
- Supports a variety of account types
Cons:
- Account-level fees may apply based on balance or inactivity
- Less clear fee structure compared to some zero-fee competitors
- Potential costs could offset commission savings for low-activity investors
4.Desjardins Online Brokerage (Disnat)
Desjardins Online Brokerage (Disnat) offers commission-free trading on stocks and ETFs for qualifying accounts, though some inactivity or balance-related fees may apply. It is a Canadian broker with options suited for investors meeting specific account conditions.
View Deal →Investors who meet the qualifying requirements can take advantage of commission-free trades on stocks and ETFs, but should watch out for potential fees related to inactivity or account balance. Desjardins stands out for those comfortable navigating fee conditions in exchange for no commissions.
Pros:
- Commission-free stock and ETF trading for qualifying accounts
- Operated by a trusted Canadian financial institution
- Supports a variety of account types
Cons:
- Inactivity fees may apply if account conditions are not met
- Balance-related fees can be charged depending on holdings
- Qualifying account restrictions limit commission-free access
5.Qtrade Direct Investing
Qtrade Direct Investing is a Canadian broker offering $0 commission on a selection of ETFs and now provides commission-free trading on stocks, ETFs, and mutual funds. It supports various account types without additional trading fees.
View Deal →Qtrade Direct Investing stands out by extending commission-free trading across stocks, ETFs, and mutual funds, appealing to investors seeking cost-effective diversification.
Pros:
- Offers $0 commission on a broad selection of ETFs
- Commission-free trading available for stocks, ETFs, and mutual funds
- Supports registered accounts without extra trading fees
Cons:
- Commission-free trading applies to selected securities, not all
- Less widely known compared to some other Canadian brokers
- Details on account fees or minimum balances are not clearly defined in recent reports
6.Webull Canada
Webull Canada offers commission-free trading on U.S. and Canadian stocks and ETFs. It is a newer platform expanding in the Canadian market with no commissions on equities.
View Deal →For investors looking to trade both U.S. and Canadian equities without commission fees, Webull Canada presents a competitive and fresh option in the brokerage space.
Pros:
- No commissions on U.S. and Canadian stocks and ETFs
- Supports trading in both major North American markets
- New entrant with growing presence in Canada
Cons:
- Relatively new in the Canadian market with limited track record
- No detailed information on account types or additional fees available yet
- May lack some features compared to more established Canadian brokers
Final Words
To make the most of commission-free trading in Canada this August, take time to compare brokers like Wealthsimple Trade, Questrade, and others to find the best fit for your investment needs. You can explore current offers and account features to ensure you maximize value while keeping your costs low.
Frequently Asked Questions
Wealthsimple Trade offers commission-free trading on stocks and ETFs with no core self-directed account fee. It also supports a wide range of registered accounts, making it a popular choice for Canadian investors.
No, Wealthsimple Trade provides strong support for registered accounts without charging a core self-directed account fee, allowing you to trade commission-free in these account types.
Wealthsimple Trade does not charge any fee on self-directed accounts, making it a cost-effective option for commission-free trading in Canada.
Besides Wealthsimple Trade, brokers like Questrade, National Bank Direct Brokerage, Desjardins Online Brokerage, Qtrade Direct Investing, and Webull Canada also offer commission-free trading on stocks and ETFs.
Some brokers, like National Bank Direct Brokerage and Desjardins Online Brokerage, may apply account-level fees based on balance or inactivity. It's important to review each broker's terms to understand potential fees.
Webull Canada offers commission-free trading on both U.S. and Canadian equities, including stocks and ETFs. Other brokers may focus primarily on Canadian stocks and ETFs.
