Several Canadian brokers now charge nothing to buy or sell stocks and ETFs online. That removes one cost, not all of them. This page lists the commission-free platforms and the charges each still applies, so you can tell which is actually cheapest for the way you invest. For a broader comparison that includes brokers that still charge commissions, see the online broker comparison.
Commission-free platforms in Canada
Fees from each broker’s pricing page as of September 2026.
| Platform | Stock and ETF trades | Costs that still apply |
|---|---|---|
| Wealthsimple | $0 | 1.5% conversion on US trades from CAD; USD account $10/month at Core |
| Questrade | $0 | 1.5% conversion; ECN fees on some orders; $150 transfer-out |
| National Bank Direct Brokerage | $0 | $100 annual administration fee unless a waiver applies |
| Qtrade | $0 | Options $0.75/contract; US$15/quarter per US-dollar registered account; $150 transfer-out |
| BMO InvestorLine | $0 | Options $0.90/contract |
| Webull | $0 | Regulatory and exchange fees; US options US$0.99/contract after an introductory period |
Moomoo is not commission-free either (CA$1.49 minimum per Canadian trade), but lists no currency exchange fee. Interactive Brokers is not commission-free ($0.01 per Canadian share, $1.00 minimum), but for investors who convert a lot of currency its 0.20-basis-point conversion can make it cheaper overall.
The costs that remain
Currency conversion
For anyone who buys US-listed securities, conversion is usually the biggest cost left. A $5,000 US purchase from a Wealthsimple CAD account costs $75 to convert, and selling converts again. Ways to reduce it include holding a USD balance, converting in larger amounts, Norbert’s Gambit at brokers that journal, or a Canadian-listed ETF that holds US stocks. How to buy US stocks from Canada compares them.
Account and administration fees
National Bank Direct Brokerage charges $100 a year unless you meet a waiver, such as $20,000 in eligible assets or being 30 or younger. On a $5,000 account, that fee is 2% of the balance each year, a large share of a small account. Wealthsimple and Questrade list no annual account fee.
US-dollar account fees
Holding US dollars can cost money in its own right: Wealthsimple’s USD account is $10 a month at Core ($120 a year), and Qtrade charges US$15 a quarter for each US-dollar RRSP, RRIF or TFSA. Questrade’s accounts hold both currencies at no extra charge.
Options, ECN and market data
Options often carry a per-contract fee even at $0-commission brokers, and exercise or assignment can cost more. Questrade charges ECN fees only on a small set of US orders (directly routed orders, OTC securities and overnight-session fills). Real-time quotes are generally free, but deeper market data, such as Level 2, is a paid add-on at some brokers: Questrade charges US$44.95 a month for it. The options trading platforms comparison sets out per-contract fees.
Transfer-out fees
Leaving costs money at many brokers: $150 per account at Questrade and at Qtrade, where closing an account in its first year adds $100. A receiving broker may reimburse this for qualifying transfers; check the current offer.
Which free platform costs least for you
| How you invest | What decides the cost | Platforms to compare |
|---|---|---|
| Canadian ETFs, monthly | Account fees at your balance | Wealthsimple, Questrade, Qtrade, BMO InvestorLine |
| US stocks, occasionally | Conversion on each trade | Any $0 broker, or a Canadian-listed ETF instead |
| US stocks, large amounts | Conversion rate, USD account fees, journaling | Questrade, Interactive Brokers |
| Options | Per-contract, exercise and assignment fees | Questrade, Wealthsimple, Qtrade |
| Small balance under a fee threshold | Annual administration fees | Brokers with no annual fee |
If a mobile app is what you mostly care about, investing and stock trading apps compared looks at the app features.
Sources
The figures and rules on this page come from these sources. How we check facts.
- BMO: BMO: Commission-Free Stock and ETF Trades with BMO InvestorLine - Sep 9, 2026
- interactivebrokers.ca: Commissions Stocks | Interactive Brokers Canada Inc.
- interactivebrokers.ca: Commissions Spot Currencies | Interactive Brokers Canada Inc.
- questrade.com: Trading Fees & Commissions | Questrade Pricing | Questrade: Tilt finance in your favour
- questrade.com: Transaction fees | Self-directed Pricing | Questrade
- questrade.com: Administrative Fees | Trading Commissions | Pricing | Questrade
- wealthsimple.com: Compare Generation, Premium, and Core Plans & Fees | Wealthsimple