Brokerage commissions have decreased significantly compared to the past when buying and selling shares was much more expensive. This reduction is likely due to advances in technology, increased competition, and greater accessibility to stock trading through online platforms. Remember that a key part of successful investing is maximizing returns while minimizing unnecessary expenses, such as high investment fees. These fees can significantly erode profits, especially for active traders. Therefore, it’s crucial to trade with low commissions and fees, provided your chosen platform meets your investment needs.
This overview offers trading in both U.S. and Canadian markets and covers self-directed investing platforms available to Canadians, starting with commission-free options and other platforms. Keep in mind that even “commission-free” platforms may charge fees for other features, which may or may not be relevant to your investment strategy. Examples include advanced U.S. or Canadian streaming data and margin account interest. Also, Currency conversion fees, particularly for transactions between U.S. and Canadian dollars, typically still apply. Below are free commission stock trading platforms.
A Side-by-Side Comparison of Free-Commission Brokerage Platforms
Brokerage Platform: Wealthsimple with Plans – Core ($1 in assets), Premium ($100,000 in assets), Generation ($500,000 in Assets)
Promotional offer: Get a 2% match on RRSP transfers and a 1% match on everything else when you move at least $15,000. Plus, earn up to 5 lift tickets valid at 50+ ski areas across Canada
Stock & ETF Trading: $0 Commission for stocks & ETFs
Options: $2 USD per option Contract for Core, Premium 75¢ USD and Generation 75¢ USD
Crypto: 2% trading fees for Core 1% trading fees for Premium and 0.5% trading fee for Generation Plan Members
Annual Account Fee: No annual fees
Brokerage Platform: Questrade with plans Basic, Fixed and Variable
Promotional offer: Move to Questrade and get 3% cash back
Stock & ETF: $0 commission for stocks & ETFs
Options: 99¢ per option trade Basic and 75¢ (Fixed and Variable Plan)
Crypto: N/A
Annual Account Fee: No annual fees
Other Canadian Brokerage Platforms
| Brokerager Platform | Promotional Offers | Stock & ETF | Options | Crypto | Annual Fees |
|---|---|---|---|---|---|
| Qtrade | Get up to 5% cash back plus $100 sign-up bonus and free trades for new customers | $8.75 commission for the Investor plan and $6.95 commission for the Investor Plus plan client. 100+ Select ETFs Free | $8.75 + $1.00 per contract | N/A | No annual fees |
| TD Direct Investing | Get 1% cash back. For new and existing clients. Limited time offer. | Standard Trader (Stocks: $9.99/trade) and Active Trader (Stocks: $7.00/ trade) | Standard Trader ( Options: $9.99 + $1.25 per contract) and Active Trader ( Options: $7.00 + $1.25 per contract) | N/A | No annual fees |
| Interactive Brokers | N/A | Minimum per order $1(monthly orders ≤ 300,000 to 20,000,000) and Maximum per order 0.5% of Trade Value | ≤ 10,000 to ≥ 100,001 $1.25 to $1 per contract | Minimum per order (≤ 100,000 to >1,000,000) USD 1.75, but no more than 1% of Trade Value | No annual fees |
| CIBC Investor Edge | Get $200 cash back when you transfer in just $5,000 | Canadian and U.S. stocks and ETFs $6.95 per online trade per online stock or ETF trade. Money market mutual funds: $0 commission All other mutual funds: $6.95 commission | Canadian and U.S. options$6.95 + $1.25 per contract | N/A | $100 Fee (When the total market balance of all your accounts > $10,000 is $0 and <10,000) |
| moomoo | Transfer now and get additional rewards up to $2,300 | $1.49 per share for stocks and ETFs | N/A | N/A | No annual fees |
| BMO Investor line | Get up to $3,500 cash back | $9.95 flat fee for each trade you make online per share for stocks. $0.00 commissions for a selection of Canada’s most popular ETFs | $1.25 per options contract | N/A | No annual fees |
| RBC Direct Investing | Transfer $15,000 or more and we’ll cover up to $200 in fees charged by your other brokerage; Get up to 500,000 Avion points plus $300 cash | $9.95 flat per transaction for < 150 trades per quarter and $6.95 flat per transaction for 150+ trades per quarter.Mutual Fund: Buy or switch funds for 1% commission on the gross trade amount ($50 maximum per trade, charged in the fund’s currency) and Sell funds $0 commission | $9.95 + $1.25 per contract for < 150 trades per quarter and $6.95 + $1.25 per contract for 150+ trades per quarter | N/A | No annual fees |
| National Bank Direct Brokerage | $0 commission on all online stock and ETF transactions | $0 commission + $1.25 per contract (min. fee of $6.25) and for options value <$2000 is $0 commission + $1.25 per contract (min. fee of $6.25 / max. fee of $19.95) | N/A | No annual fees | |
| Scotia iTrade | New clients get up to $10,000 cash and $4.99 stock and ETF commission pricing when they open and fund a Scotia iTRADE account | $4.99 150+ trades per quarter and $9.99 for < 150 trades per quarter. Mutual Fund: $9.99 for buy, sell or switch orders | $4.99 + $1.25 per contract for 150+ trades per quarter and $9.99 + $1.25 per contract for < 150 trades per quarter | N/A | No Annual Fees |
| CI Direct Trading | N/A | $3.99 per trade flat for Active traders and 1¢ per share (min $1.99 per trade – max $7.99 per trade) | $3.99 + $1.25 per contract Active Trader and $7.99 per trade + $1.25/contract | N/A | No annual fees |
| Webull | Promotional rates may apply | $2.99 per trade | N/A | N/A | No annual fees |
For first-time investors, I hope this comparison helped to simplify the various platforms available to you. If you do not live in Canada, brokerage accounts are available in your home country. Also, the most important thing is to pick one and start investing right away. As your investment strategies develop, so will platforms that meet your needs.
Sources
BMO.(2025). InvestorLine Self-Directed: Easy Online Trading Platform – BMO Canada. BMO. https://www.bmo.com/en-ca/main/personal/investments/direct-investing/investorline/self-directed/
CI. (2018). Trading Fees, Pricing & Commissions | CI Direct Trading. Cifinancial.com. https://www.cifinancial.com/ci-dt/ca/en/trade/pricing.html
Moomo. (2024). Pricing | Lower Fees on Canadian Stock Trading | Moomoo Canada. Moomoo.com. https://www.moomoo.com/ca/pricing/ca-stock?global_content=%7B%22promote_id%22%3A14282
National Bank. (2020). Brokerage fees and bank comissions 2020 | NBDB. Nbdb.ca. https://nbdb.ca/pricing/commissions.html
RBC. (2024). Get More for Your Money. Rbcdirectinvesting.com. https://www.rbcdirectinvesting.com/pricing/index.html#trading-commissions
TD. (n.d.-a). Online Trading and Investing — TD Direct Investing. http://Www.td.com. https://www.td.com/ca/en/investing/direct-investing
Scotiabank. (2025). Competitive pricing | Scotia iTRADE®. Scotiaitrade.com. https://www.scotiaitrade.com/en/home/pricing.html
Questrade. (2024). Self-Directed Investing | Questrade. Questrade. https://www.questrade.com/self-directed-investing
Qtrade. (2025). Pricing. Qtrade.ca. https://www.qtrade.ca/en/investor/pricing.html
Wealthsimple. (2016). Wealthsimple: Commission-free stock trading. Wealthsimple.com. https://www.wealthsimple.com/en-ca/self-directed-investing
Webull. (2024). Webull Canada Pricing – Clear & Transparent, Confident Trading. Webull. https://www.webull.ca/pricing
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