With Canadian brokerage platforms constantly competing on features, commission-free trading, interest on cash, and multi-currency accounts, where you choose to hold your investments can make a big difference in fees and convenience. Every platform has its unique strengths depending on your strategy: Wealthsimple: Perfect for commission-free trades on CAD stocks/ETFs, clean UI, and automated options, though USD conversions carry a fee unless you're on a higher tier. Questrade: Great for buying ETFs for free, holding dual-currency USD/CAD accounts, and performing Norbert’s Gambit to save on FX fees. Big 6 Bank Direct Investing (RBC Direct Investing, TD Direct Investing, BMO InvestorLine, etc.): Solid integration with main banking setups and seamless transfers, though standard $9.99 commission fees still apply on trades. Interactive Brokers / Webull / Moomoo: Loved by active traders for industry-low FX conversion rates, low margin rates, and advanced charting/derivatives access.
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12 Comments
Gerald @aetos · 23d
WS is 🤴. Only time a big bank should be used is with a RDSP, only because that is the only option.
Bill Johnston@billjohnston · 21d
I started with Wealthsimple because of the no-fee trades and you could start trading with as little as $1 (my first trade was $10 worth of $BB). I've stayed with them because they're constantly improving their app. 👍
Alex @dega6 · 22d
WS has Norbert’s gambit too, though it is true USD accounts closet unless you are premium.
JC @icedragon · 18d
TD, been with them since the 90's. All before these zero commission brokers. A grandfather's account has their perks. Now I qualify for Private Banking (choose not to be in), however I still have some leverage on those perks. Zero commission brokers account does not have all the features that I used to play in. Short, options, margin, spread, naked, straddles. Some zero bases are starting to have margin and maybe options.
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