Best Canadian Brokerage Firms

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



Best Canadian brokerage firms in 2016. Top rated online brokers offering investing and stock 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 (Democratic Plan) $0.01 per share, $4.95 minimum, $9.95 maximum per trade
Stocks (Advantage Variable Plan) $0.01 per share, $0.01 minimum, $6.95 maximum per trade
Stocks (Advantage Fixed Plan) $4.95 per trade
ETFs All Canadian and U.S. ETFs are free to buy; standard commission to sell
Options $9.95 + $1 per contract ($6.95 + $0.75 per contract in Advantage Variable; $4.95 + $0.75 per contract in Advantage Fixed)
Options assignments$24.95
Mutual funds $9.95
Gold or Silver $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 Promotion - click link below to get $50 in free trades


Questrade Review




Scottrade Rating

Scottrade rating

Scottrade Review

Scottrade Account Commissions and Products

InvestmentsCommissions
Stocks and ETFs $7
Stocks and ETFs broker assisted $32
Options $7 + $0.70 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
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 account that comes with free ATM withdrawals, VISA check card, and first order of checks
  • Free real-time streaming quotes
  • Flexible dividend reinvestment program (DRIP)
  • Large number of mutual funds available
  • Instant funds deposits


Scottrade Cons

  • Surcharge of 0.5% of the principal value on stocks priced 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)
  • $2,500 minimum to open a brokerage account


Full Review


Scottrade Review


Scottrade Promotion Link


Scottrade Review


Updated on 6/21/2016.



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