FolioNorth

Brokerages

Canadian brokerages

A neutral hub for the Canadian discount brokerages FolioNorth's tools reference. Browse the reviews or put any two tracked brokers beside each other.

Data freshness

8 of 8 brokerages have structured source checks

Most recent check: Aug 14, 2026.

Compare any two brokers

Check commissions, FX costs, account types, automation, options, and current promotions side by side.

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Comparing brokers for a transfer?

Several of these brokers run cash promos for incoming transfers. See the current offers ranked by net bonus after transfer-out fees.

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Wealthsimple

A simple self-directed platform with broad appeal for Canadian ETF investors.

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Commissions
$0 online stock and ETF trades
CAD/USD conversion
1.5% direct conversion; USD account or Norbert's Gambit can lower repeat costs
Account types
TFSAFHSARRSPSpousal RRSPRRIFLIRALIFRESPNon-regBusiness/Corporate

Best for: Investors who value a clean app, simple pricing, and commission-free stock and ETF trades.

Highlights

  • Commission-free stock and ETF trading is the core draw.
  • A direct US trade from a CAD account converts at a flat 1.5%; a USD account unlocks tiered conversion, and Norbert's gambit avoids the percentage fee for a ~$9.95 + tax journal fee.
  • Transfer promotions are tracked separately in the offers calculator.
Verified Jun 7, 2026Source

Commission, conversion and registered-account claims above are each checked against their own source: Wealthsimple pricing (Jul 29, 2026) · Wealthsimple account types (Jul 29, 2026). Non-registered and corporate account types are not separately sourced here.

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Qtrade Direct Investing™

A polished, service-focused Canadian brokerage that moved to $0 stock and ETF trades in late 2025.

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Commissions
$0 online stock, ETF, and mutual fund trades
CAD/USD conversion
FX spread available at purchase; Norbert's Gambit has no journal fee
Account types
TFSAFHSARRSPSpousal RRSPRRIFLIRA/LRSPLIF/LRIFRESPNon-regCorporate

Best for: Investors who want strong research tools and service quality, now without per-trade commissions.

Highlights

  • $0 commission on Canadian and US stock and ETF trades as of October 28, 2025, with the legacy quarterly administration fee eliminated at the same time.
  • USD sides on registered accounts (RRSP, RRIF, and TFSA, but not FHSA) cost US $15 per quarter, waived for Investor Plus; the FX spread is unpublished, and Norbert's gambit is officially supported.
  • Transfer promos and reimbursement terms are tracked in the offers calculator.
Verified Jul 1, 2026Source

Commission, conversion and registered-account claims above are each checked against their own source: Qtrade pricing (Jul 29, 2026) · Qtrade fees (Jul 29, 2026) · Qtrade registered accounts (Jul 29, 2026). Non-registered and corporate account types are not separately sourced here.

Promotion detailsRead the review →

Questrade

A long-running Canadian DIY brokerage with strong ETF and transfer-account coverage.

Commissions
$0 online Canadian and U.S. stock and ETF trades
CAD/USD conversion
1.5% direct conversion; Norbert's Gambit costs $9.95 plus tax
Account types
TFSAFHSARRSPSpousal RRSPRRIFLIRA/LRSPLIFRESPRDSPNon-regCorporate

Best for: DIY investors who want broad account support and are comfortable using a full brokerage workflow.

Highlights

  • Online stock and ETF trades are listed at $0 commission.
  • Direct CAD/USD conversion costs 1.5%; Norbert's gambit avoids that for a $9.95 + tax journal fee (waived on Questrade Plus).
  • Transfer-fee reimbursement and promos are tracked in the offers calculator.
Verified May 28, 2026Source

Commission, conversion and registered-account claims above are each checked against their own source: Questrade transaction fees (Jul 29, 2026) · Questrade journaling fees (Jul 29, 2026) · Questrade accounts (Jul 29, 2026). Non-registered and corporate account types are not separately sourced here.

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Interactive Brokers

A lower-cost, more advanced platform for investors who care about execution and currency conversion.

Commissions
Low per-share commissions with fixed and tiered plans
CAD/USD conversion
About 0.002% with a US $2 minimum
Account types
TFSAFHSARRSPSpousal RRSPRRIFNon-regCorporate

Best for: Experienced investors who trade across currencies or want more advanced order and market access.

Highlights

  • Low spot-currency conversion is the main differentiator for USD-heavy investors.
  • The platform is more complex than app-first Canadian brokerages.
  • No current Canadian transfer-cash promo is tracked in the offers calculator.
Verified May 28, 2026Source

Commission, conversion and registered-account claims above are each checked against their own source: IBKR stock commissions (Jul 29, 2026) · IBKR spot currency commissions (Jul 29, 2026) · IBKR registered accounts (Jul 29, 2026). Non-registered and corporate account types are not separately sourced here.

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TD Direct Investing

A large bank-owned brokerage with self-directed investing and branch-bank integration.

Commissions
$9.99 standard; $7 active trader; selected ETFs trade free
CAD/USD conversion
Published tiered spread from 1.07% under $10,000 to 0.27% at $1 million
Account types
TFSAFHSARRSPSpousal RRSPRRIFLIRA/LRSPLIFRESPRDSPNon-regCorporate

Best for: Investors who already bank with TD or want a major-bank brokerage relationship.

Highlights

  • Current transfer-cash terms are tracked in the offers calculator.
  • Bank integration may be convenient for investors who keep accounts at TD.
  • Commission, promo, and hold-period details should be checked against official terms.
Verified May 29, 2026Source

Commission, conversion and registered-account claims above are each checked against their own source: TD Direct Investing pricing (Jul 29, 2026) · TD foreign exchange pricing (Jul 29, 2026) · TD Direct Investing accounts (Jul 29, 2026). Non-registered and corporate account types are not separately sourced here.

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CIBC Investor's Edge

CIBC's self-directed brokerage, with premium-transfer terms tracked separately.

Commissions
$6.95 standard; $4.95 active trader; 180+ commission-free ETFs
CAD/USD conversion
Published tiered spread from 1.6% under US $25,000 to 0.2% at US $1 million
Account types
TFSAFHSARRSPSpousal RRSPRRIFLIRA/LRSPLIFRESPNon-regCorporate

Best for: Investors comparing major-bank brokerage options and larger-account transfer offers.

Highlights

  • Premium-transfer terms are tracked in the offers calculator.
  • The right comparison depends on account size, account type, and hold period.
  • FolioNorth review coverage will separate platform fit from temporary promos.
Verified May 29, 2026Source

Commission, conversion and registered-account claims above are each checked against their own source: CIBC Investor's Edge pricing (Jul 29, 2026) · CIBC Investor's Edge accounts (Jul 29, 2026). Non-registered and corporate account types are not separately sourced here.

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BMO InvestorLine

BMO's self-directed investing platform, included for major-bank brokerage comparisons.

Commissions
$9.95 standard; selected ETFs trade free
CAD/USD conversion
FX markup is embedded in BMO's quoted conversion rate
Account types
TFSAFHSARRSPRRIFLIRA/LRSPLIF/LRIFRESPNon-regCorporate

Best for: Investors who want a major-bank brokerage and are comparing transfer incentives with ongoing costs.

Highlights

  • Current self-directed transfer terms are tracked in the offers calculator.
  • Bank-owned brokerage convenience should be weighed against ongoing trading and FX costs.
Verified May 29, 2026Source

Commission, conversion and registered-account claims above are each checked against their own source: BMO InvestorLine pricing (Jul 29, 2026) · BMO InvestorLine FAQs (Jul 29, 2026). Non-registered and corporate account types are not separately sourced here.

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Scotia iTRADE

Scotiabank's self-directed brokerage, with tiered commissions and a large commission-free ETF list.

Commissions
$9.99 standard; $4.99 active trader
CAD/USD conversion
No published conversion schedule
Account types
TFSAFHSARRSPSpousal RRSPRRIFSpousal RRIFLIRA/LRSPLIF/RLIFRESPNon-regCorporate

Best for: Investors who want a major-bank brokerage and buy mostly from the commission-free ETF list.

Highlights

  • Online stock and ETF trades cost $9.99, dropping to $4.99 with at least 150 commission-generating trades in a calendar quarter.
  • Eligible ETFs trade commission-free, though selling one held less than a business day pays the regular commission.
  • Current transfer terms and reimbursement rules are tracked in the offers calculator.
Verified Aug 14, 2026Source

Commission, conversion and registered-account claims above are each checked against their own source: Scotia iTRADE pricing (Aug 14, 2026) · Scotia iTRADE registered account types (Aug 14, 2026). Non-registered and corporate account types are not separately sourced here.

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How to use this hub

Compare the platform before the promotion

Start with the trading commissions, currency conversion, account coverage, and features you will use. Then check the transfer calculator for current cash offers. A temporary bonus rarely fixes a poor long-term fit.

Related reading and tools

Guide: Best Canadian brokerages for ETF investors in 2026Compare CAD/USD conversion costsCompare any two Canadian brokeragesSee current transfer-cash promos

Frequently asked questions

Do Canadian brokerages still charge commission on stocks and ETFs?+
Several of the ones DIY investors shortlist no longer do. Wealthsimple, Questrade and Qtrade Direct Investing all charge $0 on Canadian and US stock and ETF trades. That is not universal: Interactive Brokers uses a low-cost activity-based model rather than a flat $0, and the big-bank platforms such as TD Direct Investing, CIBC Investor's Edge and BMO InvestorLine keep their own self-directed pricing. Check the current schedule for the specific broker rather than assuming the whole market moved.
If commissions are $0 at several platforms, what separates those brokerages?+
Currency conversion, account coverage, and platform depth. Once the trade itself is free, the FX spread you pay every time you buy something priced in US dollars is usually the largest recurring cost. After that it is whether the broker supports USD registered accounts and Norbert's gambit, which account types it offers, and how much research and order flexibility you get.
How much does foreign exchange actually cost me?+
More than commissions ever did, for anyone buying US-listed funds. A typical built-in conversion carries a markup of roughly 1.5% to 2.5%, so a $10,000 conversion can cost $150 to $250 and it recurs every time you convert. Brokers vary from a published flat rate to tiered spreads that tighten with size, and some publish nothing you can check in advance. Our Norbert's gambit calculator compares your broker's built-in rate against the cheap workaround for your exact amount.
Will I pay a fee to transfer my account to another broker?+
The broker you are leaving usually charges a transfer-out fee, commonly around $150 plus tax per account. The broker receiving the assets often reimburses it, but the thresholds differ and some require a minimum transfer. Check the receiving broker's current reimbursement policy before starting, and see the transfer bonuses page for what each is paying on incoming accounts.
Is my money protected if a Canadian brokerage fails?+
The Canadian Investor Protection Fund covers property held by a member firm that becomes insolvent, up to $1 million for each of three account categories: general accounts combined, registered retirement accounts combined, and RESPs where you are the subscriber. Worth knowing that a TFSA counts in the general category rather than the retirement one, alongside cash and margin accounts. Coverage is per member firm, so accounts at two brokerages are protected separately. It protects against the firm failing, not against your investments losing value. Confirm any brokerage you are considering is a CIPF member, which the mainstream Canadian platforms are.
Should I move my account just to collect a transfer bonus?+
Only if the destination is somewhere you would be happy to stay. A one-time cash bonus is worth real money, but the ongoing costs compound for as long as you stay: FX spreads, account fees, and whether the platform supports what you hold. Work out the net bonus after the transfer-out fee first, then ask whether you would choose that broker with no bonus on the table.
Can I hold accounts at more than one brokerage?+
Yes, and plenty of Canadians do. There is no rule against holding a TFSA at one institution and an RRSP at another, though your contribution room is shared across all of them and tracking it becomes your responsibility. The practical costs are more statements, more places to check, and duplicated transfer fees if you consolidate later.