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

InvestmentsCommissions
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

InvestmentsCommissions
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 3,000+ commission-free NTF funds, $17 for others
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 per transaction

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

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 first order of checks free)
  • Free real-time streaming quotes and charts
  • Free dividend reinvestment
  • Large number of mutual funds available - over 14,500

Scottrade Cons

  • Additional 0.5% of the principal value commission for stocks under $1
  • No electronic withdrawals, but you can use a debit card or check. Once you receive checks, you will have the routing number and account number, which you can use to withdraw money via ACH initiated from other financial institutions
  • Outdated, cluttered website design

Full Review


Scottrade Review

Scottrade New Account Promotion Link



This article was updated on 8/19/2015.



Please share us with your friends




Related articles

Online broker promotions:
Copyright ©2009-2015 Brokerage-Review.com. All rights are reserved.
The stock brokerage firm you select is solely responsible for its services to you, the user. Brokerage-Review.com shall not be liable for any damages or costs of any type arising out of or in any way connected with your use of a brokerage house's services. Brokerage-Review.com has partner relationships with other companies. As a partner, we often provide reviews of products and services based on our personal opinions. We are not compensated for positive reviews. While we strive to make sure that the information we present here is true and accurate upon publication, the rates and offers that we share with you may change without notice, so please visit the sites we reference for more up to date information.