When Robinhood launched its commission-free stock trading app in the US in 2013, it sent shockwaves through the brokerage world. Many other low-cost brokerage platforms across Canada and the US soon slashed their fees too, and commission-free stock trading is now commonplace.
To help you narrow down the options, we researched and compared trading platforms to find the best low-cost and commission-free stock trading options in Canada. Plus, keep reading to learn which fees you’ll still need to look out for and how to get the most out of your commission-free trading.
Is there commission-free trading in Canada?
Yes, there are multiple platforms that offer commission-free trading in Canada, including Questrade and Wealthsimple. So if you’re a new investor or are currently paying stock trading fees, consider signing up with a trading platform where you can trade stocks and ETFs without paying brokerage fees.
Just keep in mind that even though these discount brokerage firms are promoted as free trading platforms, they’re not 100% free. There are some other fees and charges you’ll need to watch out for — but we’ll explain those a little further down the page.
Before we do that, let’s look at the best platforms for commission-free stock trading in Canada.
Best low-cost and commission-free stock trading platforms
Best overall commission-free stock trading platform:Questrade
In February 2025, Questrade announced that it would now offer commission-free trading of Canadian and US stocks and ETFs. It offers a user-friendly platform and app for new investors, while experienced traders can take advantage of advanced trading and charting tools using the Questrade Edge web and desktop platform or mobile app. Questrade also provides access to a wide range of other assets including bonds, forex, options and mutual funds, but keep in mind that fees may apply when trading those assets.
Pros
User-friendly app
Trade Canadian and US stocks and ETFs commission-free
Real-time quotes
Advanced trading fees also available
Cons
An Electronic Communication Network (ECN) fee may apply to some trades
Fractional shares not yet available
High minimum investment requirement for bonds, GICs and IPOs
Signup Offer
Get $50 cash back when you open a self-directed account and fund it with at least $250. Use code FINDER50.
Open an Interactive Brokers account and there's no minimum deposit requirement or annual fee to worry about, while there's also no inactivity fee. You can access around 150 global exchanges through the platform, and there's a huge range of advanced order types, research and trading tools available. And with several other advanced features, Interactive Brokers is best suited to experienced investors.
Pros
Highly rated mobile app
Advanced trading tools
Supports fractional share trading
Access to a wide range of global exchanges
Cons
Not ideal for new investors
Commissions apply
Monthly fee for real-time market data
Account Fee
$0
Account Types
RRSP, TFSA, Personal, Joint
Available Asset Types
Stocks, Bonds, Options, Index Funds, ETFs, Forex, Currencies, Futures
Moomoo is a stock trading platform that offers user-friendly desktop and mobile apps. You can trade Canadian and US stocks and ETFs, with low brokerage of CAD $0.0149/stock (minimum CAD$1.49 per trade) when you invest in the Canadian market. 24/7 live customer support is also available if you ever have a problem with a trade or a question about your account.
Pros
No account minimum
Free access to Level 2 market data
Advanced charting tools available
Highly rated mobile app
Cons
Brokerage fees apply
No maximum fee
Canadian and US stocks only
Not available in the territories
Signup Offer
Enjoy a 6% cash rebate plus up to $4,600 in trading perks. Offer ends April 21, 2025.
Account Fee
$0
Account Types
RRSP, TFSA, Personal, FHSA
Available Asset Types
Stocks, Options, ETFs
ETF Transaction Cost
USD$0.0099/stock
Option Fee
US stocks and ETFs: USD$0.0099/stock (min. US$1.99 per trade)
CIBC's trading fees compare favourably with those offered by other Big Five banks, with discounts available for students, active traders and young investors (under the age of 25). To encourage young investors to get started on their investment journey, CIBC Investor's Edge offers them commission free stock trading if they have a chequing account with CIBC Smart Start. And with a wide range of securities available, this platform is worth a look if you're searching for a competitive trading option.
Pros
Discounted trading fees for active traders, young investors and students
Trade a wide range of securities
Supports cash and margin trading
Easy access to market research
Cons
$100 annual fee if your total account balance is $10,000 or less
Need to phone customer service to deposit funds from a non-CIBC account
Brokerage fees apply unless you're a young investor
Best free trading online and on mobile: Wealthsimple
Wealthsimple
7.3
Great
Wealthsimple is a commission-free trading platform that allows you to buy Canadian and US stocks and ETFs without paying a commission. The user-friendly interface makes it quick and easy to get started, and you can trade via a highly rated mobile app as well. And with margin trading and instant deposits also available, there are plenty of good reasons to check out what Wealthsimple has to offer.
Pros
Free trading platform
Easy to use
Supports fractional share trading
Also offers crypto trading
Cons
Lacks tools for advanced investors
Other platforms provide access to a wider range of global markets
1.50% foreign exchange fee for Core customers
Account Fee
$0
Account Types
RRSP, TFSA, Personal
Available Asset Types
Stocks, ETFs
ETF Transaction Cost
Free
Option Fee
$0.75 - $2 USD/contract
Inactivity Fee
$0
Stock Trading Fee
$0
Account Fee
$0
FX Fee
1.50%
Min. Deposit
$0
Best bank-based commission-free stock trading: National Bank Direct Brokerage
National Bank Direct Brokerage
7.3
Great
If you're searching for a free trading platform backed by a major bank, National Bank Direct Brokerage is well worth a closer look. You can trade US and Canadian stocks and ETFs commission-free, while the platform also provides access to bonds, options, mutual funds, GICs and exchange-traded debentures. And with a wide range of research tools also available, it has plenty to offer to new as well as more experienced investors.
Pros
No trading fees for stocks and ETFs
No minimum deposit requirement
User-friendly mobile app
Suitable for beginners as well as more advanced traders
Finder’s investments experts reviewed 14+ brokerages available on the market to narrow down the best low-cost and commission-free trading platforms in Canada.
We analyzed each platform based on 40 key metrics we collected directly from brokerages and assessed each provider’s performance based on five different categories, weighing each metric based on the expertise and insights of Finder’s investment experts. We then scored and ranked each provider depending on how it performed in each category.
See how we weigh the overall rating:
Investment options
Trading costs, rates and fees
Features and amenities
User experience and support
Regulatory compliance
30%
30%
20%
10%
10%
We update our best picks as products change, disappear or emerge in the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive platforms available.
How does commission-free stock trading work in Canada?
Commission-free trading is offered by multiple discount brokerage platforms in Canada. These online trading platforms offer self-directed investing, allowing you to buy and sell stocks via your web browser, desktop software or a mobile app.
In the past, the norm was that you had to pay a commission to your broker every time you placed a buy or sell order. But thanks to the rise of discount brokerage firms, there are now several platforms that allow you to trade Canadian and US stocks and ETFs without paying a trading fee.
Is commission-free trading entirely free?
No. When you see a broker using the words “commission-free trading”, that only applies to specific trades — usually when you buy or sell US or Canadian stocks and ETFs. There are often several other fees you may have to pay depending on the type of trading you do.
Foreign exchange fees
If you want to invest in international stocks, you’ll need to exchange your Canadian dollars for foreign currency. Brokers will charge a currency conversion fee or profit from the foreign exchange spread when you switch your CAD for another currency.
Fees when trading foreign stocks
Most platforms that offer commission-free stock trading only offer it on major Canadian and US exchanges. If you want to trade European or Asian stocks or invest in companies in emerging markets, trading commissions often apply.
Fees when trading other assets
Many free trading platforms also allow you to trade bonds, GICs, mutual funds, options and more. You’ll often pay commissions when trading these assets, so check the provider’s fee schedule for details.
Fees when selling stocks
In rare cases, a discount brokerage may allow you to buy stocks commission-free, but then charge a fee whenever you place a sell order.
Account inactivity fees
You may be charged a fee if you don’t place any trades in a 12-month period.
Withdrawal fees
Check the fine print to see if you’ll be charged a fee when you withdraw money from your trading account. For example, brokerage platforms run by banks may charge a fee when you withdraw your funds to an account with another bank.
Annual fees
Some brokers will charge an annual fee unless you meet specific requirements, such as holding assets through the platform with a market value above a minimum threshold. Others may offer paid membership tiers, so you may be able to access more features and discounted trading fees by paying an annual membership fee.
Research and data fees
Check whether you will need to pay any ongoing subscription fees to access research tools, expert analysis from third-party research firms or real-time market data.
Fee breakdown for popular trading platforms in Canada
Free trading platforms aren’t completely free. Check out the table below for a breakdown of the fees that apply on popular low-cost trading platforms in Canada.
Platform
Stock trading fee
Options trading fee
ETF transaction cost
Withdrawal fee
Account fee
Questrade
$0
$0 + $0.99 per contract
$0
$0 (up to $50,000 CAD or $25,000 USD)
$0
Interactive Brokers
min $1.00, max 0.5%
$1.00 – $1.25 per contract (min. $1.50)
Min. $1.00, Max. 0.5%
$2–$12 per withdrawal (1 free/month)
$0
Moomoo
$0.0149/stock
US stocks and ETFs: USD$0.0099/stock (min. US$1.99 per trade)
USD$0.0099/stock
1 free withdrawal per month (then $2 CAD per EFT and $12 CAD per wire transfer)
$0
CIBC Investor’s Edge
$6.95, or $0 for investors under 25 years old
$6.95 (+$1.25 per contract)
$6.95
$0
$100
Wealthsimple
$0
$0.75 - $2 USD/contract
Free
2.5%
$0
National Bank Direct Brokerage
$0
$0 commission + $1.25 per contract
$0
$0
$100
Features of free trading platforms
Commission-free and low-cost trading platforms commonly offer the following features to Canadian investors.
Self-directed investing
Online discount brokerages allow you to decide on your own investment strategy, research stocks and place trades without help from a broker or financial advisor.
Easy to use
Free trading platforms are commonly designed for new investors, so they usually offer streamlined user interfaces to make them as beginner-friendly as possible. Other features such as low minimum investment amounts and fractional share trading help make it easy for beginners to start trading stocks.
Trade online or via mobile
Trading can be done online or via a mobile app, while some providers also offer desktop trading software. Buying stocks is as simple as searching for the company you want to invest in and placing a buy order. However, some platforms offer advanced order types (such as stop-loss orders) for more experienced investors.
More than just stocks
Some discount brokerages allow you to trade US and Canadian stocks and ETFs only. Others will allow you to trade on a much larger range of global exchanges as well as invest in mutual funds, bonds, GICs, options and cryptocurrency.
How to choose the best discount brokerage in Canada for you
Compare the following features to find the best discount brokerage in Canada for your needs.
Available markets and securities
What securities do you want to trade? Do you want to invest in Canadian stocks only or do you want to invest in global markets and trade other asset types? Make sure the platform you choose provides access to everything you want to trade in Canada and around the world.
Account types
In addition to regular trading accounts, some platforms allow you to open registered accounts such as RRSPs and TFSAs. These accounts provide tax advantages for your investments, so check whether they’re available before choosing a brokerage account.
Fees
Though you may be able to trade some stocks and ETFs commission-free, the broker you choose will still need a way to make money. Check the pricing schedule for details such as brokerage fees on foreign stocks, trading fees for other asset types, annual account fees, withdrawal fees and foreign exchange fees.
Ease of use
The best low-cost online trading platform for you will be user-friendly. Stock trading can be a little overwhelming for new investors, so it’s important to find a streamlined platform that makes it quick and easy to get started. That includes the provider’s mobile app, so check some reviews in the App Store and on Google Play to make sure it’s user-friendly.
Research and analysis
Find out what sort of tools the platform offers to help you choose investments. Does it have a stock screener? Can you access expert market analysis? Does it provide easy access to the latest market news?
Advanced tools
If you’re a more experienced investor, you may want to check whether the free trading platform offers a range of other features, such as:
Advanced charting tools and technical indicators
Real-time market data
A robo advisor to help you manage your portfolio
A social trading feature that allows you to follow the moves of other traders
Customer support
Check how you can access customer support and during which hours it is available. Live chat support is common, but some platforms will also let you get in touch via phone and email.
No stock trading fees. Commission-free stock trading platforms allow you to put your money towards investing, not towards paying brokerage fees.
Trade on computer or mobile. You can trade from your computer or via a mobile app, whichever is more convenient for you.
Beginner-friendly. Most low-cost online trading platforms are user-friendly, making it quick and easy for new investors to sign up and start trading.
Low minimum investment. Many free trading platforms have low minimum investment limits, so you don’t need a huge bank balance to get started.
Cons
Not completely free. Just because a platform offers commission-free stock and ETF trading, that doesn’t mean other fees don’t apply. You’ll need to watch out for fees when trading on foreign markets, when trading different asset types, when exchanging currencies and when you subscribe to market data or news and analysis services.
Limited access. Some free trading platforms only provide access to Canadian and US stocks and ETFs, so investors who want to trade a wider range of asset types and global markets will need to look elsewhere.
May lack advanced tools. Many discount brokerages are targeted at beginners more than experienced investors, so they may lack advanced trading tools.
How to get started with commission-free stock trading
The first step to start commission-free trading in Canada is to open an account with a discount broker. Here’s how.
Compare free stock trading platforms. Compare free trading platforms to find the best discount brokerage in Canada for your needs.
Open an account. Fill out an online application with your personal information, SIN and contact details
Provide proof of ID. Upload a copy of a government-issued ID, such as a driver’s licence, to verify your identity.
Make a deposit. Transfer money from your bank account to your brokerage account.
Place a buy order. Search for the stock you want to invest in to make your first trade.
What to consider when you start trading
And then comes the question on everyone’s lips: Which stocks should I buy?
You’ll need to do your own research into which companies you want to invest in, but first you should decide on your investing strategy. The simplest approach is to buy and hold for the long-term, taking advantage of the rise in value of stocks over time.
Index funds make it easy to spread your money across a diverse portfolio of stocks, protecting you against market downturns. And if you want to earn passive income, investing in stocks that reliably pay high dividends is worth considering.
But there are several other investment strategies to check out. Value investors look for companies with undervalued share prices, while growth investors look for companies with the most growth potential.
Ultimately, the strategy you choose will depend on your investing knowledge, your financial goals and how much risk you’re willing to take on.
While commission-free stock trading in Canada isn’t offered as widely in Canada as in the USA, there are free trading platforms available. Compare low-cost online trading platforms to find one that’s right for you, but just be aware that free trading platforms are never 100% free.
Frequently asked questions about commission-free trading in Canada
Yes, multiple platforms offer commission-free stock trading in Canada. For example, Questrade, Wealthsimple and National Bank Direct Brokerage all offer commission-free trading, while CIBC Investor's Edge offers this feature for eligible young investors. However, be aware that other fees such as currency conversion costs and commissions when you trade assets other than Canadian and US stocks and ETFs may apply.
Questrade offers commission-free trading of stocks and ETFs listed on US and Canadian exchanges. However, a fee of $0 + $0.99 per contract applies for options trading, while other fees may apply when you trade other asset types.
Moomoo allows you to invest in Canadian stocks for $0.0149/stock and ETFs for USD$0.0099/stock. There are also some fees around US stocks and ETFs: USD$0.0099/stock (min. US$1.99 per trade).
Yes, provided that you choose a platform that is regulated by the Canadian Investment Regulatory Organization and provides insurance coverage under the Canadian Investor Protection Fund (CIPF). All of the trading platforms we've listed follow regulatory requirements. However, you'll need to make sure you're aware of the risks involved in trading stocks before you invest any money.
Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio
Questrade is a leader among Canadian discount brokerages, but is it right for you? Compare fees, features and alternatives here.
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Foreign exchange fees
Self-directed investing