The 2026 Canadian Brokerage Index ranks 11 Canadian online brokerages on six equally weighted categories, from commissions to customer service. The category scores were set in May 2026, and the fee figures on this page were re-checked against each broker’s own pricing page in September 2026. This index is general education, not financial advice.
YieldMaple checked each broker’s published pricing on September 23–24, 2026: Wealthsimple, Questrade, National Bank Direct Brokerage, BMO InvestorLine and Qtrade charge no commission on online stock and ETF trades, while TD Direct Investing charges $9.99 per standard trade.
Which Canadian brokerage ranks highest in 2026?
Wealthsimple ranks highest in the 2026 index at 97/100, followed by Questrade at 89/100 and Interactive Brokers at 87/100.
| Rank | Broker | Score | Suits |
|---|---|---|---|
| 🥇 1 | Wealthsimple | 97/100 | Beginners and buy-and-hold investors |
| 🥈 2 | Questrade | 89/100 | Active investors needing many account types |
| 🥉 3 | Interactive Brokers | 87/100 | Active traders, options, US markets |
| 4 | National Bank Direct Brokerage | 78/100 | Big-bank ecosystem |
| 5 | Moomoo Canada | 76/100 | Chart-driven traders |
| 6 | Qtrade | 70/100 | Research-focused investors |
| 7 | CIBC Investor’s Edge | 58/100 | CIBC customers |
| 8 | Scotia iTRADE | 56/100 | Scotiabank customers |
| 9 | RBC Direct Investing | 53/100 | RBC customers |
| 10 | BMO InvestorLine | 52/100 | BMO customers |
| 11 | TD Direct Investing | 51/100 | TD customers |
Scores are from the May 2026 scoring. Since then BMO InvestorLine has moved to $0 commissions on stocks and ETFs, which its commissions score does not yet reflect.
What does each broker charge per trade in 2026?
| Item | Current figure | Source |
|---|---|---|
| Commission on listed Canadian and US stocks and ETFs | $0 | wealthsimple.com Verified October 7, 2026 |
| Questrade commission on stocks and ETFs | $0 to buy and sell Canadian and U.S.-listed stocks and ETFs | questrade.com Verified October 7, 2026 |
| IBKR Canada Fixed commission on US-listed stocks and ETFs | US$0.005 a share, with a US$1.00 minimum and a cap of 1% of the trade value per order | interactivebrokers.ca Verified October 7, 2026 |
| IBKR Canada Fixed commission on Canadian stocks and ETFs (short form) | 1 cent a share on Canadian stocks, with a $1.00 minimum | interactivebrokers.ca Verified October 7, 2026 |
| NBDB commission on online Canadian and U.S. stock and ETF trades | $0 on online Canadian and U.S. stock and ETF trades | nbc.ca Verified October 7, 2026 |
| Moomoo Canada all-in fee on US stocks and ETFs (commission + platform fee, stock price $1 or more) | US$0.0099 a share, with a US$1.99 minimum per order | moomoo.com Verified October 7, 2026 |
| Qtrade commission on online Canadian and US stock, ETF and mutual fund trades | $0 on stock, ETF and mutual fund trades | qtrade.ca Verified October 7, 2026 |
| CIBC Investor's Edge standard commission on Canadian and US stocks and ETFs (online or mobile) | $6.95 per online stock or ETF trade | m.onlinebrokerage.cibc.com Verified October 7, 2026 |
| Scotia iTRADE standard commission on Canadian and US stocks and ETFs (online) | $9.99 per online stock or ETF trade (fewer than 150 trades a quarter) | scotiaitrade.com Verified October 7, 2026 |
| RBC Direct Investing commission on stocks and ETFs (full-suite accounts, online or mobile) | $9.95 per online or mobile trade | rbcdirectinvesting.com Verified October 7, 2026 |
| BMO InvestorLine Self-Directed commission on stocks and ETFs (Canadian and US exchanges) | $0 per stock or ETF trade on Canadian and US exchanges, online or agent-assisted | bmoinvestorline.com Verified October 8, 2026 |
| TD Direct Investing commission on Canadian and U.S. stocks | $9.99 per trade (Standard); $7.00 per trade (Active Trader); $0 on select ETFs | td.com Verified October 7, 2026 |
In plain sentences: Wealthsimple charges $0 and Questrade $0 to buy and sell Canadian and U.S.-listed stocks and ETFs. Interactive Brokers charges US$0.005 a share, with a US$1.00 minimum and a cap of 1% of the trade value per order on US stocks and 1 cent a share on Canadian stocks, with a $1.00 minimum on Canadian stocks. National Bank Direct Brokerage charges $0 on online Canadian and U.S. stock and ETF trades. Moomoo charges US$0.0099 a share, with a US$1.99 minimum per order on US stocks. Qtrade charges $0 on stock, ETF and mutual fund trades. CIBC Investor’s Edge charges $6.95 per online stock or ETF trade, Scotia iTRADE $9.99 per online stock or ETF trade (fewer than 150 trades a quarter), RBC Direct Investing $9.95 per online or mobile trade, BMO InvestorLine $0 per stock or ETF trade on Canadian and US exchanges, online or agent-assisted and TD Direct Investing $9.99 per trade (Standard); $7.00 per trade (Active Trader); $0 on select ETFs.
Several bank brokerages also keep lists of commission-free ETFs: Scotia iTRADE has 200+ and RBC Direct Investing 50+, and CIBC Investor’s Edge publishes its own list.
How is the brokerage index scored?
Each broker is scored from 0 to 100 in six categories, and each category carries the same weight: one-sixth of the total, or 16.7%.
1. Commissions and fees
- Stock and ETF commissions
- Account fees
- Inactivity fees
2. Account types
- TFSA, RRSP and FHSA support
- RESP and LIRA availability
- Corporate, joint and spousal accounts
- Margin accounts
3. Platform and user experience
- Mobile app quality
- Web platform
- Order types supported
- Charting tools
4. Trust signals
- CIPF protection
- CIRO regulation
- Operating history
- Public disclosures
5. FX and international
- Native USD accounts
- Currency conversion cost
- International market access
6. Customer service
- Response time
- Phone and chat support hours
- Educational content and help documentation
Detailed scores
#1: Wealthsimple — 97/100
| Category | Score |
|---|---|
| Commissions | 100 |
| Account types | 80 |
| Platform | 100 |
| Trust | 100 |
| FX | 95 (USD account: $10 a month for Core clients; free for Premium and Generation) |
| Customer service | 95 |
The top score. Wealthsimple charges $0 on listed Canadian and US stocks and ETFs, offers fractional shares (yes — thousands of Canadian and US stocks and ETFs), has none account minimum, and its accounts carry CIPF protection: securities eligible for CIPF coverage up to $1M per defined account. Account types include TFSA, RRSP, FHSA, RESP, LIRA, RRIF, non-registered (cash and margin), and corporate accounts. The trade-offs are currency conversion, at 1.5% on US trades from a Canadian-dollar account, and a USD account that costs $10 a month for Core clients; free for Premium and Generation.
#2: Questrade — 89/100
| Category | Score |
|---|---|
| Commissions | 85 |
| Account types | 100 |
| Platform | 85 |
| Trust | 95 |
| FX | 90 |
| Customer service | 85 |
Broadest account menu. Questrade charges $0 to buy and sell Canadian and U.S.-listed stocks and ETFs, has none — no annual account fees and no inactivity fees, and offers TFSA, RRSP, spousal RRSP, FHSA, RESP (individual and family), LIRA, locked-in RRSP, LIF, RRIF, cash and margin (individual and joint), corporate, trust, estate, partnership, sole proprietorship, and Forex & CFD accounts. In registered accounts you can hold USD in registered accounts, so US trades don't force a conversion. Currency conversion costs 1.5%. The platform has a slightly steeper learning curve than Wealthsimple’s.
#3: Interactive Brokers — 87/100
| Category | Score |
|---|---|
| Commissions | 100 |
| Account types | 75 (no RESP) |
| Platform | 70 (steep learning curve) |
| Trust | 100 |
| FX | 100 |
| Customer service | 80 |
Lowest currency-conversion cost here. Interactive Brokers charges 0.002% of the amount (US$2.00 minimum) to convert currency, US$0.005 a share, with a US$1.00 minimum and a cap of 1% of the trade value per order on US stocks, and gives access to 170 markets in 40 countries. Account types are individual and joint accounts, RRSPs, spousal RRSPs, TFSAs and FHSAs, but IBKR has no locked-in plans (such as a LIRA) and no annuities. The Trader Workstation platform takes time to learn. It suits active traders, options traders and investors who hold a lot of US stocks.
#11: TD Direct Investing — 51/100
| Category | Score |
|---|---|
| Commissions | 30 |
| Account types | 95 (full coverage) |
| Platform | 65 |
| Trust | 100 |
| FX | 50 |
| Customer service | 65 |
The legacy choice. TD charges $9.99 per trade (Standard); $7.00 per trade (Active Trader); $0 on select ETFs. Its currency conversion spread is 1.07% on conversions under $10,000. Account-type coverage is broad. It mainly suits existing TD customers who value keeping everything at one bank.
Which broker wins each category?
- Lowest commissions: Wealthsimple, Questrade, National Bank Direct Brokerage, BMO InvestorLine and Qtrade, none of which charges a commission on online stock and ETF trades
- Active US trading and currency conversion: Interactive Brokers (0.002% of the amount (US$2.00 minimum) to convert)
- Options: Interactive Brokers (US$0.65 per contract, with a US$1.00 minimum per order) and Moomoo Canada (US$0.65 per contract, with a US$1.00 minimum per order)
- Chart-driven trading: Moomoo Canada, whose US Level 2 data comes with a 30-day free trial for new users, then free in any 30-day period with 3 or more trades or CA$20,000+ in average assets
- RESP and locked-in accounts: Questrade, which offers TFSA, RRSP, spousal RRSP, FHSA, RESP (individual and family), LIRA, locked-in RRSP, LIF, RRIF, cash and margin (individual and joint), corporate, trust, estate, partnership, sole proprietorship, and Forex & CFD accounts
- Big-bank alternatives at no commission: National Bank Direct Brokerage and BMO InvestorLine, both at $0 per online stock or ETF trade
Which broker fits which investor?
Different investors weigh the six categories differently, so the top overall score is not the right fit for everyone.
- Beginners and small accounts: Wealthsimple (none account minimum, fractional shares) or Questrade
- Investors who need RESPs, LIRAs or corporate accounts: Questrade, or a bank brokerage such as BMO InvestorLine
- Day traders and options traders: Interactive Brokers
- Chart-heavy US traders: Moomoo Canada
- Investors who hold a lot of US dollars: Interactive Brokers for conversion cost, or Questrade for USD in registered accounts
- Customers who want everything at their bank: their own bank’s brokerage, or National Bank Direct Brokerage for $0 commissions
- Self-employed and corporate investors: Questrade or Interactive Brokers
The verdict
In the 2026 index, Wealthsimple leads for everyday investors, with Questrade and Interactive Brokers close behind for investors who need more account types or cheaper currency conversion. The Big 5 bank brokerages scored lowest in May 2026, but the gap is narrowing: BMO InvestorLine now charges $0 per trade, and several banks offer long lists of commission-free ETFs.
Before moving an account, compare the costs you would actually pay, including currency conversion and the transfer-out fee at your current broker. The brokerage fee calculator helps with that comparison.