2022 COMPARISON GRID BMO InvestorLine CG Direct CIBC Investor’s Edge CI Direct Trading Desjardins Online Brokerage HSBC InvestDirect Laurentian Bank Discount Brokerage National Bank Direct Brokerage Qtrade Direct Investing Questrade RBC Direct Investing Scotia iTRADE TD Direct Investing Wealthsimple Trade Interactive Brokers The basic stock trading commissions charged and product restrictions $9.95
✘ Restricitions ✘ $6.95
✘ Restricitions $9.99
✘ Restricitions $0
✘ restrictions $6.88
✘ Restricitions $9.95
✘ Restricitions $0.00
✘ restrictions $8.75
✘ Restricitions 1-cent per share Minimum $4.95
Maxiumum $9.95✘ Restricitions $9.95
✘ Restricitions $9.99
✘ Restricitions $9.99
✘ Restricitions $0.00
✔ Restrictions(Not all Stocks and ETFs are available) CDN $0.01/share
US $0.005/share
Min $1.00 for both AND max 0.5% of trade value for CDN and 1% for US
✘ Restricitions The lower and/or higher commissions charged for different circumstances ✘ ✘ $0
25 years old with bank account
OR
$4.95
active traders
OR
$5.95
>25 year old students $3.99
150 or more completed trades per quarter ✘ $4.88
150 or more completed online trades per quarter (North American stocks and ETFs) ✘ ✘ $6.95
150 or more completed trades per quarterOR> $500,000 in AssetsOR$7.75 for qualified 18-30 year olds $0.01 per share
($6.95 max) $6.95
150 or more completed trades per quarter $4.99
150 or more completed trades per quarter $7.00
150 or more completed trades per quarter ✘ ✘ Participation in pre- and post-market North American trading sessions ✔ ✘ ✘
By phone only ✘ ✔ ✘
By Phone only ✘ ✘
By Phone only ✘
By Phone only ✔ ✘
By Phone only ✔ ✔ ✘ ✔ Access to trade international stocks online ✘ ✘ ✘ ✘ ✘ ✔ Hong Kong, London, Paris, Frankfurt exchanges ✘ ✘ ✘ ✔ ✘ ✘ ✘ ✘ ✔ ECN fee on top of regular commission ✔
Fees for removing liquidity (from $0.0008/share to $0.004/share depending on exchange and security price) ✔
Fees for removing liquidity (from $0.0008/share to $0.004/share depending on exchange and security price) ✔
Fees for removing liquidity (from $0.0008/share to $0.004/share depending on exchange and security price) ✔
Fees for removing liquidity (from $0.0008/share to $0.004/share depending on exchange and security price ✘ ✘ ✘ ✘ ✘ ✔
Fees for removing liquidity (from $0.0008/share to $0.004/share depending on exchange and security price ✘ ✔
After-hours trading in U.S. markets
($0.005 per share) ✔
Fees for removing liquidity (from $0.0008/share to $0.004/share depending on exchange and security price) ✘ ✔
Fees for removing liquidity (from $0.0008/share to $0.004/share depending on exchange and security price) Number of commission-free ETFs 80 No free ETFs No free ETFs All ETFs are free for buys only All ETFs are free No free ETFs No free ETFs All ETFs are free 105 All ETFs are free for buys only No free ETFs 103 TD ETFs only and must be traded suing TD EasyTrade
mobile app Limited offering,
no clear list Limited offering,
no clear list Commission charged when buying an ETF ✔
ETFs not on exempt list ✔ ✔ ✘ ✘ ✔ ✔ ✘ ✔
ETFs not on exempt list ✘ ✔ ✔
ETFs not on exempt list ✔
Non-TD ETFs ✘
WARNING:
Wealthsimple determines which ETFs can be traded ✔
ETFs not on approved list Commission charged when selling an ETF ✔
ETFs not on exempt list ✔ ✔ ✔ ✘ ✔ ✔ ✘ ✔ Same rules as buys and no day-trading ✔
Regular commissions on sell orders ✔ ✔
ETFs not on exempt list ✔
Non-TD ETFs ✘
Same issues as above ✔
ETFs not on approved list The basic options trading commissions charged and product restrictions $9.95 base fee, $1.25 per contract $1 per contract (minimum $10) $6.95 + $1.25 per contract $7.99 + $1.25 per contract $1.25 per contract (minimum $8.75) $6.88 + $1.25 per contract $9.95 + $1.25 per contract $0 + $1.25 per contract (minimum $6.25) $8.75 + $1.25 per contract $9.95 ticket + $1.25 per contract. $9.95 + $1.25 per contract $9.99 + $1.25 per contract $9.99 + $1.25 per contract Options trading not available $1.25 per contract (minimum $1.50) Access to bonds and/or GICs online Both ✘ Both Bonds Bonds Bonds Bonds Bonds Both ✘ Both Both Both ✘ ✘ Non-financial extras available to active investors Enhanced trading platform,
priority support, enhanced data and research,
better margin rates, plus other fees, access to BMO private banking benefits, and
exclusive IPO allocation ✘ Level 2 quotes, research and tools, and lower commissions Multiple trading platforms available for a fee Market Q platform with integrated portfolio and trading ticket, streaming data and lower commissions Preferential interest rates on margin balances ✘ Better data amd better trading platform for a reduced pricing based on monthly trading volume Lower commissions, fees, margin rates and debit interest rates for margin accounts, and a dedicated phone number Enhanced service and trading platform Priority service, enhanced data and research tools, and preferred margin rates and account fees FlightDesk platform, lower commissions, additional equity research and priority service Depth of data, access to dedicated service team and preferred margin rates Clients can agree to purchase real-time quotes on a monthly basis ✘ Annual fees for registered and non-registered accounts Registered
$100
Non-registered
$100 Registered
$125
Non-registered
$0 Registered
$100
Non-registered
$100 Registered
$0
Non-registered
$100 Registered
$0
Non-registered
$0 Registered
$0
Non-registered
$0 Registered
$100
Non-registered
$120 $100 divided between all accounts Registered
$ 100
Non-registered
$ 100 ✘ No annual fees ✘ No annual fees Registered
$100
Non-registered
$100 ✘ No annual fees ✘ No annual fees Registered
$0
Non-registered
$0 The minimum required to avoid an annual fee Registered $25,000 Non-registered $15,000 ✘ Registered $25,000 Non-registered $10,000 $5,000 across all accounts, no fees for clients 26 or younger Registered $15,000 Non-registered $15,000 or 125 completed trade per year ✘ No annual fees 2 completed trades in 6 months
OR
$25,000 registered accounts OR $15,000 for non-registered $20,000
across all accounts
OR
30 years old
OR
enrolled professional
OR
InvestCube account 25,000 across all accounts
OR
young investor
OR
recurring $100 contribution per month
OR
minimum trades per month ✘ No annual fees, but there is a $1,000 minimum required when opening an account $15,000
across all accounts
OR
3 completed trades per quarter
OR
quarterly deposits > $300
and
banking relationships Investors 26 years old
OR
registered
$25,000 or 12 completed trades per year
OR
non-registered
$10,000 or 1 completed trade per quarter ✘ No annual fees ✘ No annual fees USD$100,000 Inactivity fee, cost and how to avoid it ✔ $25/quarter
waived if with >$15,000 in account assets OR 2 executed trades over 6 months in non-registered accounts ✔ $20/month ✘ no Inactivity Fee ✔ $24.95/quarter
waived $5,000 across all accounts, no fees for clients aged 26 or younger ✔ $30/quarter
waived if >$15,000 in account assets OR 6 executed trades over past 12 months OR a registered account ✔ $25/quarter waived if combined assets of >=$25,000 CAD across all HSID accounts OR account has been opened for 90 days OR Jade customer OR 3 executed over the past quarter ✘ No inactivity fee ✘ No inactivity fee ✘ No inactivity fee ✘ No inactivity fee ✘ No inactivity fee ✔ $25/quarter if non-registered $10,000, waived if with 1 trade over 3 months OR new account OR 25 years old ✔ $25/quarter
waived if with >$15,000 household assets OR 3 trades over 3 months OR new account OR GoalsAssist account ✘ No inactivity fee ✔ $10/month minus USD commission money generated OR $3 base for investors >25 years old AND waived if > $100,000 USD account size Ability to hold U.S. dollars in registered accounts to avoid FX fees for trades ✔ ✘ ✔ ✔ ✔ ✘ ✘ ✔ ✔ ✔ ✔ ✔ ✔ ✘ ✘ Desktop and/or mobile device access to analysts buy-and-sell recommendations ✔ both ✘ ✔ TipRank tool ✔ desktop only ✔ both ✘ ✘ ✘ ✔ desktop only ✔ TipRank tool via desktop and QuestMobile ✔ ✔ ✔ On both Webbroker and mobile app ✘ ✔ Trading, account and/or market alerts through desktop and/or mobile ✔ ✘ ✔ Stocks, market, watchlists and analysts rating ✔ ✔ ✔ ✔ market only mobile only ✔ ✔ desktop only ✔ ✔ Via email ✔ Stock and ETF price alerts; Watchlists; Technical ✔ Price and volume alerts via email and mobile app, and news, ratings, indicators and events via email only ✔ Stock and ETF price alerts ✔ Access to educational tutorials or how-to videos through desktop and/or mobile device ✔ ✘ ✔ ✘ ✔ ✔ ✘ ✔ ✔ desktop only ✔ Tutorials on all platforms ✔ How-to videos and demos ✔ How-to videos ✔ On both Webbroker and mobile app ✘ ✔ How-to videos Mobile-based access to market quotes or account balances without logging in ✘ ✘
No mobile offering ✔ Quotes ✘ ✔ Quotes ✘
No mobile offering ✘
No mobile offering ✘ ✘ ✘ ✘ ✘ ✘ ✘ ✘ Access to human chat services Monday through Friday, 8 a.m. to 5 p.m. (EST) ✘ Monday through Friday, 8 a.m. to 6 p.m. (EST) Monday through Friday,
market hours ✘ Monday through Friday
9 a.m. to 5 p.m. (EST) ✘ ✘ Monday through Friday,
11 a.m. to 5 p.m. (EST) Monday through Friday, 7:30 a.m. to 8 p.m. (EST) ✘ Monday through Friday, 9:30 a.m. to 5 p.m. ✘ ✘ Monday through Friday, 24 hours;
Sunday, 1 p.m. to 7 p.m. (EST), U.S.-based Wait times for inquiries 37 hours
(79 in 2021) 50 hours
(10 in 2021) 31 hours
(107 in 2021) 7 hours
(90 in 2021) 28 hours
(97 in 2021) 81 hours
(80 in 2021) 29 hours
(48 in 2021) 118 hours
(38 in 2021) 5 hours
(10 in 2021) 21 hours
(3 in 2021) 7 hours
(35 in 2021) 37 hours
(94 in 2021) 26 hours
(53 in 2021) 16 hours
(74 in 2021) 20 hours
(48 in 2021) Read more: Check out the reviews from Surviscor BMO InvestorLine Review Canaccord Genuity Direct Review CIBC Investor’s Edge Review CI Direct Trading Review Desjardins Online Brokerage Review HSBC InvestDirect Review Laurentian Bank Discount Brokerage Review National Bank Direct Brokerage Review Qtrade Direct Investing Review Questrade Review RBC Direct Investing Review Scotia iTRADE Review TD Direct Investing Review Wealthsimple Trade Review Interactive Brokers Review

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