This page compares where to hold an RRSP: brokerages, robo-advisors, bank mutual funds and savings or GIC RRSPs, and what each costs. How the account itself works is covered in the complete RRSP guide, and the full list of RRSP topics is in the RRSP guide directory.
Types of RRSP Accounts
Choose Based on Your Goals
| RRSP Type | Best For | Fees |
|---|---|---|
| Brokerage | DIY investing | $0 per trade at several brokerages; $9.99 at TD Direct Investing |
| Robo-advisor | Hands-off investing | A yearly management fee on assets (the schedules below), plus fund MERs |
| Bank mutual funds | Convenience | Each fund’s MER, which varies widely |
| Savings/GIC | Conservative | Usually no account fee |
Before opening multiple accounts, check your RRSP contribution room so you do not over-contribute across institutions.
Best RRSP Brokerages
For DIY Investors
A self-directed RRSP at an online brokerage lets you buy ETFs and stocks yourself. Trade commissions and account fees differ by brokerage and change often, so confirm current pricing with the provider; the brokerages are compared in detail in the best online brokers in Canada.
Wealthsimple self-directed RRSP
| Feature | Details |
|---|---|
| Stock and ETF commission | $0 |
| Monthly account fee | $0 |
| US trades from a CAD account | 1.5% currency conversion fee |
Best for: Commission-free investing, beginners, small accounts.
Questrade RRSP
| Feature | Details |
|---|---|
| Stock and ETF trades | $0 (both buying and selling) |
| Annual account fee | $0 |
| Currency conversion | 1.5% |
| Features | Advanced tools |
Best for: ETF investors who want more trading tools.
What to Buy in RRSP
| Investment | Example |
|---|---|
| All-in-one ETF | VGRO, XGRO, XEQT |
| Bond ETFs | VAB, ZAG |
| Dividend ETFs | VDY, XDV |
If you want a portfolio framework instead of picking funds manually, use our guide to ETFs and index funds for Canadian investors.
Best RRSP Robo-Advisors
Hands-Off Investing
| Provider | Management fee (plus fund MERs) |
|---|---|
| Wealthsimple managed investing | 0.50%; 0.40% with $100,000+ in total Wealthsimple assets |
| Questwealth | 0.25% from a $250 balance; 0.20% from $100,000 |
| CI Direct Investing | 0.60% on the first $150,000, 0.40% on the next $350,000, 0.35% above $500,000 |
Fees as of September 2026; each provider’s pricing page has the current schedule.
All three build a portfolio of ETFs for you and rebalance it; the fee schedule is the main difference between them.
Best RRSP Savings & GICs
For Conservative Investors
Banks, including online banks such as EQ Bank and Tangerine, offer RRSP savings accounts or RRSP GICs. Rates change often and differ between institutions, so compare current RRSP GIC and savings rates directly with each bank; current GIC rates are compared in the GIC guides.
When RRSP Savings/GICs Make Sense
| Situation | Good Choice |
|---|---|
| Near retirement | Yes |
| Very risk averse | Yes |
| Long time horizon | No (invest instead) |
| Emergency backup | TFSA is more flexible |
For an emergency fund, the TFSA is more flexible: withdrawn amounts are added back to your contribution room the following year, while RRSP room used by a withdrawal is gone for good.
Best Bank RRSP Options
TD e-Series RRSP
| Feature | Details |
|---|---|
| MER | 0.22% (TD Canadian Index Fund - e) and 0.39% (TD International Index Fund - e), as of June 30, 2026; each fund differs |
| Minimum | $100 initial |
| Type | Index mutual funds |
| Best for | Simple, low-cost |
Best for: Bank customers who want index funds without a brokerage.
Tangerine RRSP
| Feature | Details |
|---|---|
| MER | 1.06% (Core Portfolios) |
| Type | Portfolio funds |
| Portfolios | Five Core Portfolios, from Balanced Income to Equity Growth |
Best for: Simple all-in-one, no decisions.
Fee Comparison
Impact Over 30 Years ($500/month at 7%)
| Annual fee | Ending Balance | Lost to Fees |
|---|---|---|
| 0.00% (no fees) | $610,000 | $0 |
| 0.20% (low-cost ETFs) | $586,000 | $24,000 |
| 0.50% (robo-advisor range) | $553,000 | $57,000 |
| 2.00% (high-fee mutual funds) | $416,000 | $194,000 |
Monthly contributions of $500 for 30 years, compounded monthly at 7% a year minus the fee, rounded to the nearest $1,000. An illustration, not a forecast.
In this example, the 2% fee costs 32% of the no-fee balance over 30 years, and even the 0.50% fee costs 9%.
If you are still comparing platform types, the broader online brokers hub is a useful cross-check before opening an RRSP.
What’s Best for Your Situation
Decision Guide
| Profile | Options to compare |
|---|---|
| Beginner, any amount | Wealthsimple (self-directed or managed) |
| DIY investor | A commission-free brokerage such as Questrade or Wealthsimple |
| Want low fees | Low-cost ETFs at a commission-free brokerage |
| Hands-off | A robo-advisor such as Wealthsimple managed investing or Questwealth |
| Conservative | RRSP GICs at an online bank |
| Prefer your bank | Bank index funds such as TD e-Series |
RRSP vs Other Options
Should You Use RRSP?
| Your Situation | Common approach |
|---|---|
| Lower income | TFSA first |
| Middle income | Both |
| Higher income | RRSP first |
| Employer match | Contribute enough to get the full match |
| Buying a first home | FHSA first; the RRSP’s Home Buyers’ Plan can add to it |
RRSP Contribution Basics
Limits and room
The account type doesn’t change how much you can contribute. The dollar limit for 2026 is $33,810 (past years are on the RRSP contribution limit page), and your own room, including unused room carried forward, is shown in CRA My Account and on your Notice of Assessment. Holding RRSPs at several institutions doesn’t add room: every contribution counts against the same limit.
Related Resources
Sources
The figures and rules on this page come from these sources, last checked against them between August 29, 2026 and October 13, 2026. How we check facts.
- Canada Revenue Agency: MP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and the YAMPE
- cifinancial.com: Investment Account Pricing | CI Direct Investing
- 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
- Tangerine: Core Portfolios | Tangerine
- TD: Pricing | TD Direct Investing
- TD: TD Canadian Index Fund - e-Series: Fund Facts
- TD: TD International Index Fund - e-Series: Fund Facts
- TD: TD Canadian Index Fund - e (TDB900) | TDAM
- wealthsimple.com: Compare Generation, Premium, and Core Plans & Fees | Wealthsimple