Every FHSA follows the same CRA rules, so the provider you choose changes what you can hold and what it costs, not how much room you have or how withdrawals are taxed. The choice comes down to how you want to invest: buying ETFs yourself, a managed portfolio, or savings and GICs. This page compares provider types and the main providers in each. The account rules are in the FHSA guide, and every FHSA topic is in the FHSA guides directory.
Fees, commissions and savings rates change often. The figures below are as last checked; confirm current pricing with the provider before opening.
Providers at a glance
| Provider | Type | What you can hold in the FHSA |
|---|---|---|
| Wealthsimple (self-directed) | Online brokerage | Stocks and ETFs |
| Questrade | Online brokerage | Stocks, ETFs and most options |
| Interactive Brokers | Online brokerage | US and Canadian listed stocks and ETFs, some options, US bonds |
| Wealthsimple (managed) | Robo-advisor | Managed portfolios |
| Questwealth | Robo-advisor | Managed ETF portfolios |
| EQ Bank | Online bank | Savings and GICs |
| TD Direct Investing, RBC Direct Investing | Bank brokerages | Stocks, ETFs and mutual funds |
Self-directed brokerages
Suit people who want to choose their own ETFs or stocks.
Wealthsimple
| Feature | Details |
|---|---|
| Commissions | $0 on stocks and ETFs |
| Minimum | $0 |
| Currency conversion | 1.5% on US trades from a CAD account; an optional USD account costs $10 a month on the Core plan |
| Fractional shares | Yes |
Wealthsimple is covered in full in the Wealthsimple review.
Questrade
| Feature | Details |
|---|---|
| Commissions | $0 on Canadian and US stocks and ETFs, buying and selling (as of September 2026) |
| Fractional shares | Yes |
| Currency conversion | 1.5%; Norbert’s Gambit is an alternative |
| Other holdings | Options |
See the Questrade review.
Interactive Brokers
| Feature | Details |
|---|---|
| Commissions | $0.01 per share on Canadian stocks, $1.00 minimum per order (IBKR Pro Fixed pricing) |
| Currency conversion | 0.20 basis points of the trade value (US$2.00 minimum); a basis point is one-hundredth of a percentage point, for comparison with the brokerages above |
| Suits | Frequent traders and people buying US-listed securities |
Robo-advisors
Suit people who want a portfolio chosen and managed for them.
| Feature | Wealthsimple (managed) | Questwealth |
|---|---|---|
| Management fee | 0.5% a year (Core), 0.4% (Premium) | 0.25% a year on balances under $100,000, 0.20% from there |
Fund fees (MERs) are charged on top of the management fee. Robo-advisors as a whole are compared on the robo-advisors page.
Savings and GICs
Suit people with a short timeline, or who don’t want market risk.
| Feature | EQ Bank |
|---|---|
| Holdings | FHSA savings account and GICs |
| Availability | Not offered in Quebec |
| Deposit insurance | CDIC (Equitable Bank is a member) |
| Savings rate | Confirm the current FHSA rate with EQ Bank; GICs may pay more for a fixed term |
FHSA savings rates differ from bank to bank and change often; compare the current rates on best HISA rates and best GIC rates.
Bank brokerages
Suit people who want everything with their main bank.
| Feature | TD Direct Investing | RBC Direct Investing |
|---|---|---|
| Stock and ETF commissions | $9.99 per online trade (under 150 trades a quarter); $0 on select ETFs | $9.95 per online trade (under 150 trades a quarter); $0 on select ETFs |
| Mutual funds | Available | Available, with no commission |
| Integration | TD banking | RBC banking |
How to choose
| If you want… | Provider type |
|---|---|
| To buy ETFs yourself at no commission | Self-directed online brokerage |
| A hands-off portfolio | Robo-advisor |
| Savings or GICs only | Online bank or credit union |
| Everything at your own bank | Bank brokerage |
| Low currency conversion costs | Interactive Brokers |
What to hold depends mostly on how many years you have until you buy. The FHSA investment options page lists what is allowed and the usual mixes by timeline, with links to reviews of the all-in-one ETFs many FHSA holders use.
Before you open
- Timing: FHSA room only starts in the year you open your first FHSA, so the date matters more than the provider; see when to open an FHSA.
- Switching later: you can move your FHSA to another provider. A direct transfer from one FHSA to another of your FHSAs is not taxed and does not use contribution room. Ask the receiving institution to start the transfer rather than withdrawing the money yourself, since a withdrawal would be taxable.
- Limits: your room is the same wherever you hold it; see FHSA contribution limit.
- Projections: the FHSA calculator estimates growth and the deduction.
Related guides
Sources
The figures and rules on this page come from these sources. How we check facts.
- 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: Questwealth Portfolios | Questrade
- RBC: Commissions, Fees and Rates - RBC Direct Investing
- TD: Pricing | TD Direct Investing
- wealthsimple.com: Compare Generation, Premium, and Core Plans & Fees | Wealthsimple