Best Canadian Brokerage Firms

Best Canadian brokerage firms: top online stock trading brokers in Canada

Best Canadian stock brokerage firms in 2015. Top rated online brokers offering investing and trading account services to citizens and residents of Canada (Toronto, Ontario, BC/British Columbia, Alberta, and Quebec).

Questrade Rating

5-star brokerage firm rating

Questrade Review

Questrade Account Commissions and Products

Stocks Plan 1 $0.01 per share, $0.95 minimum, $6.95 maximum per trade OR $4.95 flat with the Questrade Advantage
Stocks Plan 2 $0.01 per share, $4.95 minimum, $9.95 maximum per trade
ETFs All Canadian and U.S. ETFs are free to buy with the Questrade IQ trading platforms; standard commission to sell
Options $9.95 + $1 per contract ($6.95 + $0.75 per contract in Advantage program)
Options assignments$24.95
Mutual funds $9.95
Gold $19.95 per trade
Bonds $0 per trade
Forex spreads as low as 1-2 pips on the major currency pairs

Investments stocks, options, mutual funds, international stocks, gold, CNSX securities, bonds, term deposits, GICs, ETFs
Questrade minimum deposit to open account $1,000 ($250 minimum to keep an account open)
FeesQuestrade fees

Questrade Pros

  • Very good commissions on all products, except options
  • Ability to buy physical gold
  • No surcharges for large orders, penny stocks, or extended hours trading
  • Ability to hold U.S. dollars
  • Forex trading is available
  • Online Trading Academy courses
  • Checking account (but with an annual fee)

Questrade Cons

  • Customer service needs improvement
  • Quarterly $20 inactivity fee if no trades were executed in a quarter AND account balance is less than $5,000
  • Outgoing ACAT of $125 - most companies charge this fee, but few set it so high

Best Canadian Brokerage Review

Questrade Review

Questrade New Account Promotion - click link below to get $50 in free trades

Questrade Review

Scottrade Rating

Scottrade Account Commissions and Products

Stocks and ETFs $7
Stocks and ETFs broker assisted $32
Stocks and ETFs interactive voice response (IVR) telephone system $32
Options $7 + $1.25 per contract
Mutual funds $17
CDs, OTC Secondary Corporates, OTC Secondary Municipals,
U.S. Treasury Bills, Notes, Bonds and STRIPS, New Corporate Offerings
subject to a markup or markdown
Listed Corporate Bonds $35 + $3 per bond (minimum investment $1,000)
Unit Investment Trusts (UIT) $50 liquidation fee
Foreign Stocks Transferring In or Out $60

Investments stocks, options, mutual funds, CDs, munis, U.S. Treasury, Canadian and foreign stocks, ETFs
Scottrade minimum deposit to open account $2,500 ($0 for IRA accounts)
FeesScottrade fees
Promotion and login linksScottrade login, Scottrade promotions

Scottrade Pros

  • No inactivity, account maintenance or hidden fees
  • No-fee IRAs
  • 500+ local branches for in-person assistance
  • Great support for beginner investors with a massive number of educational resources
  • Good banking services: savings, CDs, money market and free checking accounts (free ATM withdrawals, VISA check card, and free first order of checks)
  • Free real-time streaming quotes
  • Flexible and free dividend reinvestment programs (DRIPs)
  • Large number of mutual funds available - over 14,500
  • Instant funds deposits

Scottrade Cons

  • Outdated, cluttered website design
  • Additional 0.5% of the principal value commission for stocks under $1
  • No electronic withdrawals, but clients can use a debit card, checks, or ACH transfer from their bank
  • $25,000 account balance, or 9+ stock/option trades during the previous three months is required to use advanced trading platform (ScottradeELITE)
  • High $2,500 minimum to open regular brokerage account (but $0 for IRA)

Full Review

Scottrade Review

Scottrade New Account Promotion Link

Updated on 8/19/2015.

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