The best trading app in Canada is no longer decided by commissions alone. As of September 2026, Wealthsimple, Questrade, BMO InvestorLine, National Bank Direct Brokerage and Qtrade all offer commission-free stock trading, charging $0 to buy and sell Canadian and US stocks and ETFs online. What still differs is the cost of converting to US dollars, account fees, the account types on offer, fractional shares and trading tools. This guide compares 10 trading and investing apps on those points and works out what a typical year costs on each. YieldMaple checked every figure on the brokers’ official pricing pages on September 23 and 24, 2026.
Best trading apps in Canada at a glance
| Feature | Wealthsimple | Questrade | BMO InvestorLine | National Bank DB | Interactive Brokers | Moomoo |
|---|---|---|---|---|---|---|
| Stock and ETF commission | $0 (better on this row) | $0 (better on this row) | $0 (better on this row) | $0 (better on this row) | 1 cent a share on Canadian stocks, with a $1.00 minimum; 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 | CA$0.0149 a share, with a CA$1.49 minimum per order (Canadian); US$0.0099 a share, with a US$1.99 minimum per order (US) |
| Converting CAD to USD | 1.5% per conversion (CAD account) | 1.5% | about 1.6% on conversions under US$25,000 | about 1.70% on conversions up to US$24,999 | 0.002% of the amount (US$2.00 minimum) (better on this row) | 0% fee, plus an unpublished spread |
| Holding US dollars | USD account: $10 a month for Core clients; free for Premium and Generation | free — every account can hold both Canadian and US dollars (better on this row) | In registered accounts (except RESPs), plus cash and margin accounts | In TFSA, RRSP, spousal RRSP, RRIF, LIRA/LRSP, cash and margin accounts (not FHSAs or RESPs) | Registered accounts hold cash in both CAD and USD | Holds USD assets; $0 account fees |
| Fractional shares | yes — thousands of Canadian and US stocks and ETFs (better on this row) | hundreds of eligible Canadian and US stocks and ETFs, from $1, commission-free, in any self-directed account | Not listed on the pages checked | Not listed on the pages checked | available on eligible US, Canadian and European stocks and ETFs | AutoBuy buys whole shares only |
| Options (per contract) | US$0 per contract (better on this row) | $0 commissions on US equity options contracts; CA$0.99 per contract on Canadian options | $0.90 per contract | $1.25 per contract, with a $6.25 minimum per trade (capped at $19.95 on trades worth less than $2,000) | US$0.65 per contract, with a US$1.00 minimum per order | US$0.65 per contract, with a US$1.00 minimum per order |
| Account types | TFSA, RRSP, FHSA, RESP, LIRA, RRIF, non-registered (cash and margin), and corporate accounts | TFSA, RRSP, FHSA, RESP, LIRA, LIF, RRIF, joint, corporate, trust and more (better on this row) | TFSA, FHSA, RRSP, RESP, RRIF, locked-in, joint and corporate | TFSA, FHSA, RRSP, RRIF, RESP, LIRA, LIF, cash and margin | Individual and joint, plus RRSP, spousal RRSP, RRIF, TFSA and FHSA (no LIRA; no RESP listed) | Cash, margin, TFSA, RRSP and spousal RRSP (no FHSA or RESP) |
| Fee to watch | 2.5% on instant withdrawals | $150 to transfer out | $0 administration and transfer-out fees (better on this row) | $100 a year unless exempt | no account minimum and no inactivity fee (US$0 for both) | $75 per currency to transfer out |
| Best for | Beginners and one-app investing | Account variety and holding USD | A bank-owned broker with no fees | Investors 30 or younger, or with larger balances | US stocks, big conversions, global markets | Chart-heavy US traders |
Sources: wealthsimple.com/en-ca/pricing and Wealthsimple's trade fee schedule; questrade.com commissions, fractional-shares and account-type pages; BMO InvestorLine Self-Directed fee schedule (September 2026); nbdb.ca pricing and FX pages; interactivebrokers.ca commissions and spot-currency pages; moomoo.com/ca pricing and help pages. Checked September 23 and 24, 2026.
In plain terms: Wealthsimple, Questrade, BMO InvestorLine and National Bank Direct Brokerage charge $0 per stock or ETF trade. Interactive Brokers charges 1 cent a share on Canadian stocks, with a $1.00 minimum, and Moomoo charges CA$0.0149 a share, with a CA$1.49 minimum per order on Canadian stocks and US$0.0099 a share, with a US$1.99 minimum per order on US ones. Converting Canadian dollars to US dollars costs 0.002% of the amount (US$2.00 minimum) at Interactive Brokers, 1.5% at Wealthsimple (from a CAD account), 1.5% at Questrade, about 1.6% on conversions under US$25,000 at BMO and about 1.70% on conversions up to US$24,999 at National Bank. Moomoo charges a 0% fee, plus an unpublished spread. Wealthsimple’s fractional-share list covers thousands of Canadian and US stocks and ETFs, against hundreds at Questrade, and Wealthsimple and Questrade both charge $0 per US options contract.
Four more apps round out the list. Qtrade is commission-free; the bank apps from TD, RBC and CIBC charge per trade but offer free trades or commission-free ETF lists:
| Feature | Qtrade | TD Easy Trade / Direct Investing | RBC GoSmart / Direct Investing | CIBC Investor's Edge |
|---|---|---|---|---|
| Stock and ETF commission | $0 (better on this row) | Easy Trade: 100 free trades a year; Direct Investing: $9.99 | GoSmart: 50 commission-free stock and ETF trades per year; Direct Investing: $9.95 | $6.95 per online stock or ETF trade |
| Commission-free ETFs | all ETFs on Canadian and US exchanges (better on this row) | 108 on Direct Investing, including VFV, VEQT, VGRO, VBAL, SPY, QQQ and TD's own ETFs such as TEQT, but not XEQT | 50+: iShares ETFs, including XEQT, XGRO, XBAL, XIC and XUS | 200+, including VFV, VEQT, XGRO and XBAL, but not XEQT |
| Account fee to watch | US$15 a quarter per account for a US-dollar RRSP, RRIF or TFSA | Direct Investing: $25 a quarter under $15,000 (waivers available) | $0 maintenance fee (better on this row) | $100 a year under $10,000 |
| Best for | Research tools and mutual funds | TD clients investing from a phone | RBC clients buying iShares ETFs such as XEQT | 18-to-24-year-olds with CIBC Smart Start |
Sources: qtrade.ca pricing and fee pages; td.com Direct Investing pricing, TD Easy Trade and commission-free ETF pages; rbcdirectinvesting.com pricing, GoSmart and commission-free ETF pages; cibc.com Investor's Edge pricing, fee schedule and Young Investor pages. Checked September 23 and 24, 2026.
What is the best trading app in Canada?
Wealthsimple is the best trading app in Canada for most people: $0 commissions, fractional shares, no account minimum, and investing, chequing and tax filing in one app.
It isn’t the best at everything, so here is the full ranking by the kind of investor each app suits:
- Best overall and for beginners: Wealthsimple. Commission-free stocks and ETFs, fractional shares on thousands of securities, recurring buys, and TFSA, RRSP, FHSA, RESP, LIRA and RRIF accounts.
- Best for account variety and holding US dollars: Questrade. Also $0 to buy and sell Canadian and U.S.-listed stocks and ETFs, with free US-dollar holding in every account and the longest account list here.
- Best for US stocks and global markets: Interactive Brokers. The cheapest currency conversion by far and access to 170 markets in 40 countries.
- Best bank-owned app: BMO InvestorLine. Commission-free under its September 2026 fee schedule, with no administration or transfer-out fees.
- Best if you’re 30 or younger: National Bank Direct Brokerage. Commission-free, with a full account menu; the yearly fee is waived for younger investors and larger balances.
- Best for research and mutual funds: Qtrade. Commission-free stocks, ETFs and mutual funds.
- Best for charts and active US trading: Moomoo. Level 2 data and pre-market and after-hours trading, but per-share fees.
- Best for TD clients: TD Easy Trade. 100 free trades a year in a phone-only app.
- Best for RBC clients who buy XEQT: RBC GoSmart or Direct Investing.
- Best for young CIBC clients: CIBC Investor’s Edge. Free trading at ages 18 to 24 with a CIBC Smart Start account.
1. Wealthsimple: best overall and for beginners
Cost: $0 commission on listed Canadian and US stocks and ETFs, US options at US$0 per contract, and no account minimum.
Good at: fractional shares on thousands of Canadian and US stocks and ETFs, so a $100 deposit buys $100 of an ETF even when one unit costs more. Wealthsimple’s pricing page lists recurring investments (weekly, every two weeks or monthly), automatic dividend reinvestment, real-time streaming quotes and price alerts on every plan. Self-directed accounts include TFSA, RRSP, FHSA, RESP, LIRA, RRIF, non-registered (cash and margin), and corporate accounts. The same app holds chequing, 170+ cryptocurrencies and margin borrowing at 4.95% for Core clients, below the Canadian-dollar margin rates BMO InvestorLine, National Bank and TD publish.
Watch out for: US-listed trades from a CAD account cost 1.5% each way. The USD account that avoids repeat conversions costs $10 a month for Core clients; free for Premium and Generation. Instant withdrawals from investment accounts cost 2.5%. And self-directed trading is order-execution only — Wealthsimple makes no recommendations and doesn't check whether your trades suit you. For the full picture, see our complete Wealthsimple guide.
2. Questrade: best for account variety and holding US dollars
Cost: $0 to buy and sell Canadian and U.S.-listed stocks and ETFs, $0 commissions on US equity options contracts, and CA$0.99 per contract on Canadian-listed options.
Good at: US dollars and account choice. Holding USD is free — every account can hold both Canadian and US dollars, so you can keep dividends and sale proceeds in USD without paying to convert back. Its account list covers 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. Fractional shares cover hundreds of eligible Canadian and US stocks and ETFs, from $1, commission-free, in any self-directed account. The account is free to open, with no minimum balance. Account fees: none — no annual account fees and no inactivity fees.
Watch out for: converting currency costs 1.5% on Canadian-to-US-dollar conversions and back, built into the exchange rate Questrade applies, the same as Wealthsimple’s CAD-account fee. Margin interest is CAD prime + 4.25% on debit balances under $100,000 (CAD prime + 3.25% from $100,000), which works out to 8.70% on smaller balances. Level 2 market data costs US$44.95 a month, uninvested cash earns 0% at current prime rates — Questrade's formula for CAD cash is prime minus 8.50%, and a negative result pays 0%, and leaving costs $150 per account, for a full or partial transfer (sales tax added where applicable). The Wealthsimple vs Questrade comparison goes account by account, or check Questrade's current pricing .
3. Interactive Brokers: best for US stocks and global markets
Cost: 1 cent a share, with a $1.00 minimum and a cap of 0.5% of the trade value per order on Canadian stocks and ETFs, and US$0.005 a share, with a US$1.00 minimum and a cap of 1% of the trade value per order on US ones. Currency conversion is 0.002% of the amount (US$2.00 minimum).
Good at: big conversions and breadth. IBKR says it passes through the dealer quotes it receives and charges a separate commission, and it reaches 170 markets in 40 countries with 100+ order types, from limit orders to algorithmic orders. There’s no account minimum and no inactivity fee (US$0 for both), CAD margin costs 3.606% on the first $130,000 borrowed in CAD as of October 8, 2026 (IBKR's benchmark rate + 1.5%), and USD cash can earn 3.38% on USD cash above US$10,000, for accounts worth more than US$100,000. Its TFSAs, RRSPs and FHSAs can hold cash in both CAD and USD, and fractional shares are available on eligible US, Canadian and European stocks and ETFs.
Watch out for: a narrower account list (individual and joint accounts plus RRSP, spousal RRSP, RRIF, TFSA and FHSA), with no locked-in plans (such as a LIRA) and no annuities and no RESP listed. Real-time Toronto Stock Exchange quotes cost $9.00 a month, and per-share pricing means small orders pay the minimum. Registered-account margin is not allowed — every purchase must be paid in full. The platform is built around order types and market access rather than simplicity. See Wealthsimple vs Interactive Brokers for the head-to-head.
4. BMO InvestorLine: best bank-owned app
Cost: $0 per stock or ETF trade on Canadian and US exchanges, online or agent-assisted, per BMO InvestorLine’s September 2026 Self-Directed fee schedule. Its summer 2026 promotion still handed out a set number of zero-commission trades, so older reviews quoting a per-trade commission are out of date. Options cost $0.90 per contract.
Good at: having almost no account fees. Administration fees are $0 (BMO says all brokerage account administration fees are now eliminated), and transferring out costs $0 (it used to be $150). Accounts include TFSA, FHSA, RRSP, RESP and RRIF; individual, joint, cash and margin accounts; locked-in accounts (LIRA, LRSP, RLSP, LRIF, LIF); and corporate, trust, estate and other non-personal accounts, and there is no minimum to open. You can hold US dollars in registered accounts (except RESPs), plus cash and margin accounts.
Watch out for: currency conversion at about 1.6% on conversions under US$25,000, CAD margin at 6.00%, and mailed paper statements at $2 a month per account. Uninvested cash earns 0.00% on cash balances (CAD and USD), including TFSAs and RRSPs. Compare it directly in Wealthsimple vs BMO InvestorLine.
5. National Bank Direct Brokerage: best if you’re 30 or younger
Cost: $0 on online Canadian and U.S. stock and ETF trades. Options cost $1.25 per contract, with a $6.25 minimum per trade (capped at $19.95 on trades worth less than $2,000).
Good at: a full account menu (TFSA, FHSA, RRSP, spousal RRSP, RRIF, RESP, LIRA, LRSP, LIF, cash, margin and short-selling accounts, plus in-trust, estate, company and sole-proprietorship accounts) with no commissions. US-dollar accounts are available in TFSA, RRSP, spousal RRSP, RRIF, LIRA/LRSP, cash and margin accounts (not FHSAs or RESPs).
Watch out for: a $100 yearly administration fee per account root unless one of these applies: at least $20,000 in eligible assets on May 31, being 30 or younger on May 31, holding only an InvestCube account, or being enrolled in a National Bank offer for professionals or newcomers. Statements and confirmations arrive by mail until you switch to online delivery, and mailed trade confirmations cost $2.50 per trade, so switch to online delivery on day one. Conversion costs about 1.70% on conversions up to US$24,999, opening an account takes 2 to 5 business days, and a trade placed through an agent that you could have placed online can cost $60. See Wealthsimple vs National Bank Direct Brokerage.
6. Qtrade: best for research and mutual funds
Cost: $0 on stock, ETF and mutual fund trades, and all ETFs on Canadian and US exchanges trade commission-free. Options cost $0 plus $0.75 per contract.
Good at: investment choice (Canadian and US stocks and ETFs, mutual funds, Canadian and US bonds, options and GICs) and research. Qtrade offers a free 30-day trial account with research, screeners and watchlists, and says it has been named Canada's #1 online investing platform 28 times in the past 18 years. Its fall 2026 offer advertises up to $5,000 in cash back on net new deposits.
Watch out for: a US-dollar registered account fee of US$15 a quarter per account for a US-dollar RRSP, RRIF or TFSA (no fee on FHSAs; waived for Investor Plus); a currency conversion cost that isn’t published on its pricing page; a full de-registration (full withdrawal) fee of $125, including emptying a TFSA (FHSAs excepted); and a closure fee of $100 if you close an account within its first year. See Wealthsimple vs Qtrade.
7. Moomoo: best for charts and active US trading
Cost: US$0.0099 a share, with a US$1.99 minimum per order on US stocks and ETFs, CA$0.0149 a share, with a CA$1.49 minimum per order on Canadian ones, and US options at US$0.65 per contract, with a US$1.00 minimum per order. The currency fee is 0% (waived until further notice), but conversions use Moomoo's own exchange rate, which includes a spread Moomoo doesn't publish.
Good at: trading tools. Moomoo’s site lists paper trading, charts, screeners, a heat map and Level 2 data; free US Level 2 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, showing up to 60 bids and asks. US extended hours run pre-market from 4:00 to 9:30 a.m. ET and after-hours from 4:00 to 8:00 p.m. ET. CAD margin is 4.45% under $100,000.
Watch out for: the per-order minimums on small buys, and account types limited to individual margin, individual cash, TFSA, RRSP and spousal RRSP accounts (no FHSA or RESP). Its recurring AutoBuy buys whole shares only — each AutoBuy purchase is rounded down to the nearest whole share, and it fails if the amount can't buy one share. The headline Cash Sweep rate is 6% a year on the first $10,000 of uninvested cash, for Moomoo Engine members only (0% for non-members), and Engine membership costs $49.90 a month or $499 a year, plus tax unless you qualify for it free. Transferring out costs $75 for a full transfer out and $50 for a partial one, charged per currency, plus sales tax. The Wealthsimple vs Moomoo comparison covers both apps in detail.
8. TD Easy Trade: best for TD clients
Cost: 100 free trades a year, then $9.99 a trade ($1.99 for partial-share orders of less than one share). TD lists no maintenance fees, no fees for U.S. dollar accounts and no minimum balance.
Good at: simple phone investing, handy if you already bank with TD, with Canadian and U.S. currency components on the TFSA, RRSP and cash account. The fuller TD Direct Investing platform charges $9.99 per standard trade but has 108 commission-free ETFs, including VFV, VEQT, VGRO, VBAL, SPY, QQQ and TD's own ETFs such as TEQT, but not XEQT.
Watch out for: Easy Trade is a phone or tablet app only — you can't use it in a desktop browser, and it offers a TFSA, FHSA, RRSP and cash (non-registered) account, individual only. TD Direct Investing charges $25 a quarter when your household's TD Direct Investing accounts total less than $15,000, unless you qualify for a waiver. See Wealthsimple vs TD.
9. RBC GoSmart and RBC Direct Investing: best for RBC clients who buy XEQT
Cost: GoSmart includes 50 commission-free stock and ETF trades per year, then $9.95 per trade; recurring investments into one of four all-in-one ETFs don't count toward the 50 free trades. RBC Direct Investing charges $9.95 per online or mobile trade, but lets every account trade 50+ ETFs commission-free, iShares ETFs, including XEQT, XGRO, XBAL, XIC and XUS.
Watch out for: GoSmart is for existing RBC clients using the RBC Mobile app, offers TFSA, FHSA and RRSP accounts only, in Canadian dollars, and transfers in are not accepted from other investment accounts, at RBC or elsewhere. Currency conversion at RBC Direct Investing costs about 1.6% on conversions up to US$24,999. See Wealthsimple vs RBC Direct Investing.
10. CIBC Investor’s Edge: best for young CIBC clients
Cost: $6.95 per online stock or ETF trade as standard, or $0 per online stock or ETF trade and no annual account fee, for clients aged 18 to 24 with a CIBC Smart Start chequing account. Clients can trade 200+ ETFs commission-free online, including VFV, VEQT, XGRO and XBAL, but not XEQT.
Watch out for: an annual fee of $100 a year when the total market balance of all your Investor's Edge accounts is $10,000 or less, and conversion at 1.6% (225 basis points) on conversions up to US$24,999.99. See Wealthsimple vs CIBC Investor’s Edge.
Checked but not ranked: Scotia iTRADE. It charges $9.99 per online stock or ETF trade (fewer than 150 trades a quarter), though 200+ ETFs trade commission-free and clients with Scotiabank’s top-tier chequing package get up to 100 commission-free online trades a year. Small accounts can face two fees. The registered-plan fee is $100 a year per RRSP, RRIF, LIRA or LIF when your combined Scotia iTRADE accounts total less than $25,000 and you make fewer than 12 commissionable trades a year. The low-activity fee is $25 a quarter per non-registered account, unless a waiver applies; the main waivers are at least 1 commission-generating trade in the past 3 months, or more than $10,000 in total Scotia iTRADE equity (registered accounts are exempt). For younger clients, low-activity and RRSP admin fees are waived until and including the year you turn 26. Without a free-trade app like TD Easy Trade or RBC GoSmart, it trails the bank apps above for most beginners. Webull Canada isn’t ranked on this page. A separate review of Webull Canada covers its fees, accounts, trading hours and safety.
Which apps offer commission-free stock trading in Canada?
Five of the ten apps compared offer commission-free stock and ETF trading in Canada: Wealthsimple, Questrade, BMO InvestorLine, National Bank Direct Brokerage and Qtrade.
All five charge $0 to buy and sell Canadian and US stocks and ETFs online, per their pricing pages in September 2026.
Two more are free up to a cap: TD Easy Trade (100 free trades a year) and RBC GoSmart (50 commission-free stock and ETF trades per year). TD Direct Investing, RBC Direct Investing and CIBC Investor’s Edge charge per trade but keep lists of commission-free ETFs. Moomoo and Interactive Brokers charge per share, so neither is commission-free, even though both are cheap on large orders.
“Commission-free” only covers the trade itself. Costs that still apply:
- Currency conversion. Every US-listed purchase from a Canadian-dollar account is converted: 1.5% per conversion at Wealthsimple, and the same 1.5% at Questrade.
- US-dollar account fees. Wealthsimple’s USD account costs $10 a month for Core clients; Qtrade charges US$15 a quarter per account for a US-dollar RRSP, RRIF or TFSA.
- Account fees. National Bank’s $100 administration fee, CIBC’s $100 annual fee under $10,000, and TD’s $25 a quarter maintenance fee on small households.
- Transfer-out fees. $150 at Questrade, $150 per account at National Bank and $150 at Qtrade, against $0 at BMO InvestorLine.
- Market data. Questrade’s Advanced (Level 2) data costs US$44.95 a month; real-time TSX quotes at Interactive Brokers cost $9.00 a month.
- Idle cash. Uninvested cash earns no interest at Questrade, BMO InvestorLine, TD, RBC, CIBC, National Bank and Qtrade under their current rate tables, so keep savings in a savings account instead.
What does a year of investing cost on each app?
Buying XEQT every month costs $0 in commissions at seven of the ten apps, but converting $5,000 to US dollars costs from about US$2 to about $85.
Example 1: $500 on the first of every month into XEQT in a TFSA (12 buys a year). A $500 buy of XEQT is far fewer than 100 units, which matters for the per-share apps: they charge their per-order minimum.
| App | Commissions for the year | Other costs to know |
|---|---|---|
| Wealthsimple | $0 | None for this pattern |
| Questrade | $0 | None for this pattern |
| BMO InvestorLine | $0 | None for this pattern |
| Qtrade | $0 | None for this pattern |
| National Bank Direct Brokerage | $0 | $100 yearly fee unless exempt (30 or younger, or $20,000 in eligible assets on May 31) |
| TD Easy Trade | $0 (12 of the yearly free trades) | None for this pattern |
| RBC GoSmart or Direct Investing | $0 (XEQT is on RBC’s commission-free list) | GoSmart is for existing RBC clients |
| Interactive Brokers | $12.00 | None for this pattern |
| Moomoo | CA$17.88 | None for this pattern |
| CIBC Investor’s Edge | $83.40 | $100 annual fee under $10,000 once your first 180 days pass |
| TD Direct Investing | $119.88 | $25 a quarter under $15,000, waived with a pre-authorized contribution of at least $100 a month |
Two details change the order. At CIBC and TD Direct Investing, switching from XEQT to VEQT (on both commission-free lists) brings commissions to $0. At National Bank, the administration fee costs more than a year of Moomoo’s minimums unless one of its exemptions applies.
Example 2: converting $5,000 to US dollars to buy US stocks (one-way).
| App | Cost of the conversion |
|---|---|
| Interactive Brokers | US$2.00 (automatic conversion when you buy a US stock with CAD adds about 0.03% instead: about $1.50) |
| TD Direct Investing | about $71 |
| Wealthsimple, CAD account | $75 |
| Wealthsimple, USD account (Core) | $75, plus $120 a year for the account |
| Questrade | $75 |
| BMO InvestorLine, RBC Direct Investing, CIBC Investor’s Edge | about $80 |
| National Bank Direct Brokerage | about $85 |
| Moomoo | 0% fee, but its exchange rate includes a spread it doesn’t publish |
| Qtrade | Not published on its pricing page |
Selling later and converting back costs roughly the same again, so a round trip on $5,000 through a Wealthsimple CAD account costs about $150. Wealthsimple applies its fee to its own corporate exchange rate, which already includes a spread, so treat its figures above as the minimum you pay. The bank percentages are each bank’s own illustrative estimate, and they move with the exchange rate. The takeaway: if you only buy Canadian-listed ETFs, the $0-commission apps all tie; if you buy US stocks, the currency fee decides.
What is the best investing app in Canada for beginners?
Wealthsimple is the best investing app for most Canadian beginners because $0 commissions, no minimum and fractional shares let a small, regular deposit buy exactly what you choose.
A beginner-friendly app should pass this checklist:
- $0 commission on the ETF you’ll buy every month. Wealthsimple, Questrade, BMO InvestorLine, Qtrade and National Bank pass for any listed ETF; RBC, TD and CIBC pass only for ETFs on their lists.
- Small-dollar buys. Fractional shares let $50 buy part of a unit. Wealthsimple’s list covers thousands of securities; Questrade’s covers hundreds of eligible Canadian and US stocks and ETFs, from $1, commission-free, in any self-directed account.
- Automatic buying. Wealthsimple’s recurring investments buy on a weekly, two-week or monthly schedule. Moomoo’s AutoBuy rounds down to whole shares.
- TFSA, FHSA and RRSP in one place. All of the commission-free apps offer the three; Moomoo has no FHSA.
- No small-account fees. Watch National Bank’s $100 fee if you’re over 30 with less than $20,000, and CIBC’s fee under $10,000.
Wealthsimple passes all five without conditions. It also puts chequing, crypto and tax filing in the same app, and Wealthsimple says 3 million Canadians use it. If you already bank with TD or RBC, their apps are reasonable starts as long as you stay within 100 free trades a year on TD Easy Trade or buy ETFs on RBC’s commission-free list. For a first purchase, how to buy XEQT on Wealthsimple walks through each step.
If choosing investments feels like the hard part, skip self-directed trading and use a robo-advisor: Wealthsimple managed investing costs 0.50% a year for Core clients. The best robo-advisor guide compares it with Questwealth, Justwealth and others.
Which app is best for buying US stocks from Canada?
Interactive Brokers is usually the cheapest app for buying US stocks from Canada, because converting costs 0.002% of the amount (US$2.00 minimum) instead of 1.5% at Wealthsimple and Questrade.
The right app depends on how often and how much you convert:
- Large or frequent conversions: Interactive Brokers. On $5,000, the conversion is a couple of US dollars rather than $75. Its automatic conversion, used when you buy a US stock with Canadian dollars, is typically 0.03% added to the exchange rate, with no separate commission.
- Holding USD long term: Questrade. Holding USD is free — every account can hold both Canadian and US dollars, so dividends and sale proceeds can stay in US dollars. Its Norbert’s Gambit route (buying a dual-listed security in CAD and selling it in USD) needs a journal request at $9.95 per online journaling request (free and unlimited with Questrade Plus).
- Already a Wealthsimple Premium or Generation client: Wealthsimple. The USD account is free at those levels, and conversions into it cost 1.5% under $10,000; 1.0% from $10,000; 0.5% from $25,000; 0% from $100,000. Wealthsimple’s active-trading page also lists Norbert’s Gambit as a way to convert near market rates; Norbert’s Gambit on Wealthsimple explains how.
- Occasional US buys on Wealthsimple Core: from a CAD account you pay 1.5% each way. The USD account at $10 a month pays off only if it saves you enough repeat conversions.
Use this calculator to test your own numbers on Wealthsimple:
There’s also a way around currency fees entirely: Canadian-listed ETFs of US stocks, such as VFV, trade in Canadian dollars on the TSX. How to buy US stocks from Canada covers withholding tax, W-8BEN forms and which account to use, and the Wealthsimple USD account guide covers that account in detail.
Which trading platform app is best for active traders and options?
Interactive Brokers suits the most active traders, with 100+ order types and the lowest margin rate here; Wealthsimple and Questrade charge $0 per US options contract.
Options, per contract: Wealthsimple US$0 per contract; Questrade $0 commissions on US equity options contracts and CA$0.99 per contract on Canadian options; Qtrade $0.75 per contract; BMO InvestorLine $0.90 per contract; Moomoo and Interactive Brokers both US$0.65 per contract, with a US$1.00 minimum per order; National Bank $1.25 per contract, with a $6.25 minimum per trade (capped at $19.95 on trades worth less than $2,000). TD, RBC and CIBC add a per-trade commission on top: TD charges $9.99 plus $1.25 per contract ($7.00 plus $1.25 per contract with 150+ trades a quarter), RBC $9.95 plus $1.25 per contract ($6.95 plus $1.25 per contract with 150+ trades a quarter) and CIBC $6.95 plus $1.25 per contract ($4.95 plus $1.25 per contract with 150+ trades a quarter).
Margin (CAD, smaller balances): Interactive Brokers 3.606% on the first $130,000; Moomoo 4.45%; Wealthsimple 4.95% on Core (4.45% on Premium); BMO InvestorLine 6.00%; National Bank 6.25%; TD 6.50%; Questrade 8.70%.
Tools: Moomoo gives free US Level 2 data (up to 60 bids and asks) 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, plus pre-market and after-hours sessions. Wealthsimple’s active-trading page lists charts with technical indicators such as moving averages, RSI and VWAP, real-time streaming quotes on every plan, multi-leg options strategies and extended hours on a limited selection of US stocks. Interactive Brokers offers the widest market access. More detail: Wealthsimple options trading and the Wealthsimple margin account guide.
Frequent trading raises risk as well as costs, and margin magnifies losses as well as gains. Day trading on Wealthsimple covers the rules and tax treatment to know first.
Is there a good AI investing app or AI trading app in Canada?
No app here, whether sold as an AI investing app or an AI trading app, has its own AI that picks investments for you; the hands-off option is a robo-advisor.
Searches for an “AI investing app” or the “best AI trading app” usually mean one of three things:
- AI tools inside a trading app. Moomoo’s Canadian help pages call Moomoo “Canada’s First AI Broker”, and Moomoo AI answers questions and condenses filings, earnings updates and news into summaries. In April 2026 Moomoo announced “agentic investing” with Moomoo API Skills, which connects your own AI agent to its platform and defaults to paper trading. Questrade’s Agentic Finance lets you link an outside AI assistant to your account to analyze your portfolio and place trades, and Questrade sends a push notification for you to confirm each trade first. In each case the AI works from your questions and instructions; the broker isn’t advising you. Moomoo Canada is an order-execution-only dealer that gives no investment advice or recommendations, so the choice and the risk stay with you.
- Robo-advisors. A portfolio is picked from your goals and risk level, then rebalanced automatically. Wealthsimple managed investing costs 0.50% a year for Core clients, and Questwealth 0.25%. That’s automation built on the firm’s portfolio rules, not a machine choosing winners, and it’s usually what a beginner searching for an “AI investing app” needs.
- Rules you set, executed for you. Wealthsimple’s Automated Investing lets you choose holdings and target weights; when the mix drifts, a deposit buys what’s underweight or a full rebalance brings every holding back to target. Its fee is 0.25%, capped at $250 per account per year. Questrade’s Flows, part of Questrade Pro, place trades when conditions you set are met, such as a price falling by a set amount. Plain recurring investments on Wealthsimple are included on every plan.
Be skeptical of apps, ads or social-media accounts that promise AI-driven profits. Guaranteed returns on a security are illegal in Canada — promoters can't make guarantees about a security's future value, and no legitimate financial advisor will contact you through social media. Before you send money anywhere, check registration using the Canadian Securities Administrators' National Registration Search, plus CIRO's directory and AdvisorReport.
Are trading apps in Canada safe?
Yes, within limits: every app compared here is run by a CIPF member, which protects eligible assets if the firm fails, but not against market losses.
CIPF coverage is $1 million for all general accounts combined (such as cash, margin, TFSA and FHSA accounts), plus $1 million for all registered retirement accounts combined (such as RRSPs, RRIFs and LIFs), plus $1 million for RESPs where you are the subscriber. At Wealthsimple that means securities eligible for CIPF coverage up to $1M per defined account; Moomoo Canada states up to $1 million for each general account, and BMO InvestorLine up to $1,000,000. CIPF doesn't protect you from a drop in the value of your investments, for any reason. Crypto is different: at Wealthsimple it is not protected by CIPF, CDIC or any other investor protection insurance scheme.
Account security matters as much as the regulator. Wealthsimple offers two-step verification by an authenticator app, text message or automated phone call, and its Account Guarantee covers reimbursement of direct losses from unauthorized transactions in your accounts, as long as you use passkeys on all your devices and meet the guarantee's security responsibilities. Whichever app you choose, use an authenticator app over text messages where you can. For more, see is Wealthsimple safe. The Moomoo Canada safety check covers the same questions for that app.
Is older Reddit advice on Canadian trading apps still accurate?
Not always: several fees and bonus terms changed in 2026, so a Reddit thread written even a year ago can quote prices that no longer apply.
Check these points before acting on an older post:
- BMO InvestorLine is now commission-free. Its summer 2026 promotion still handed out a set number of zero-commission trades, but its September 2026 fee schedule charges $0 per stock or ETF trade. It also dropped its $150 transfer-out fee and its old small-account fees ($25 a quarter on non-registered accounts, $100 a year on RRSPs and LIRAs and $50 a year on RESPs).
- Wealthsimple’s referral bonus is now flat. Under terms effective June 8, 2026, a personal referral pays the new client $25 after a $100 deposit; the older tiered referral ladder is closed. Current offers are in the Wealthsimple bonus guide.
- Wealthsimple’s plans are Core, Premium and Generation. Premium starts at $100,000 in assets and Generation at $500,000. There is no “Plus” plan, and the USD account costs $10 a month for Core clients; free for Premium and Generation.
- Wealthsimple self-directed accounts include RESPs, LIRAs, RRIFs and margin. The full list is TFSA, RRSP, FHSA, RESP, LIRA, RRIF, non-registered (cash and margin), and corporate accounts.
A thread is useful for how an app feels day to day; the broker’s own fee page is the place to check prices. Every figure in this guide comes from an official provider, regulator or government page, checked in September 2026.
How to pick the right trading app
Pick Wealthsimple if:
- You’re starting out, or you want one app for investing, chequing and tax filing.
- You buy Canadian-listed ETFs with small, regular deposits and want fractional shares.
- You trade US options and want to pay US$0 per contract, or you want cheaper margin than BMO InvestorLine, National Bank or TD charge.
Pick Questrade if:
- You want to hold US dollars in every account at no extra cost.
- You need an account type Wealthsimple doesn’t list for self-directed investing, such as a trust, estate or partnership account.
Pick Interactive Brokers if:
- You convert thousands of dollars to USD, or trade markets outside North America.
- You’re an experienced trader who wants advanced order types and the lowest margin rate here.
Pick BMO InvestorLine or National Bank Direct Brokerage if:
- You want a bank-owned broker with $0 commissions. At National Bank, make sure you qualify for the fee waiver.
Pick Moomoo if:
- You trade US stocks actively, want free Level 2 data and pre-market and after-hours sessions, and your orders are large enough that the per-order minimum doesn’t matter.
Pick your bank’s app (TD, RBC or CIBC) if:
- You already bank there, stay within the free trades or commission-free ETF lists, and like keeping investing next to your everyday banking.
When Wealthsimple is the wrong choice: you’re on the Core plan and move large sums into US stocks often (Interactive Brokers is far cheaper to convert), you need an RDSP (TD Direct Investing lists one) or a trust or estate account (Questrade), or you want free Level 2 data and a broker built around charting (Moomoo).
The verdict
For most Canadians, Wealthsimple is the best trading app in 2026. It charges $0 commission on Canadian and US stocks and ETFs, has no account minimum, offers fractional shares on thousands of securities, and holds TFSAs, RRSPs, FHSAs, RESPs, LIRAs and RRIFs in one app. Questrade is the better choice for holding US dollars and unusual account types, Interactive Brokers for converting currency at 0.002% of the amount (US$2.00 minimum), and BMO InvestorLine if you want a bank-owned broker with no commissions and no administration or transfer-out fees. Because five apps now charge $0 commissions, compare currency costs and account fees before you choose.
For every Wealthsimple account, fee and feature in one place, see our complete Wealthsimple guide.
This page is general education, not financial advice; the right app depends on what you buy, how often you trade and how much you convert to US dollars.