Top online broker houses for citizens of Canada in 2016. Best online investment firms for active traders, new investors in Canada.


Best Brokerage Firms In Canada: Questrade

  • Stocks: 1¢ per share (min. $4.95 / max. $9.95)
  • Options: $9.95 + $1 per contract
  • ETFs: commission-free
Pricing for active traders:
  • Stocks: 1¢ stock trades (min. 1¢ / max. $6.95) OR A flat rate of $4.95 per trade
  • Options: Trade options for $6.95 + 75¢ per contract OR Trade options for $4.95 + 75¢ per contract
  • ETFs: commission-free

Minimum to open: $1,000 and $250 minimum to keep an account open.

Questrade is a well-known solid Canadian brokerage firm with a long history. The brokerage firm offers the lowest stock trading commissions in two pricing plans- for frequent and infrequent traders. There are a range investments options available through Questrade which include stocks, ETFs, options, mutual funds, precious metals, bonds and FX and CFD trading.

Option traders can multi-leg option with up to four legs. Also, they can take advantage of 17 pre-defined multi-leg strategies, such as collars, calendars, straddles and strangles. Want something more exotic? Create your own custom strategy

Extensive educational amenities from platform basics to learning advanced options and FX and CFD trading offered through online webinars and in-person training. Those people who are new to investing can try risk-free trading with a practice account.

 

Questrade Advantages

  • Great low commissions
  • Lowest commissions in Canada for active traders
  • Commission-free ETFs
  • Multi-leg options
  • On-demand webinars and seminars
  • Extensive research and ratings provided by Morningstar
  • Free advanced trading platform
  • FX and CFD trading
  • Actively manage online portfolios
  • Platinum services for accounts over $250,000
  • Support via online chat, phone, email, in-person-Toronto branch.

 

Questrade Disadvantages

  • High transfer out fee
  • $24.95 qaurterly inactivity fee for accounts under $5,000

Open an account: Open an account today. Get $50 in free trades.

 


Best Brokerage Firms In Canada: TD Ameritrade

  • Stocks & ETFs: $6.95
  • Options: $6.95 + $0.75 per contract
  • Mutual Funds: $49.99

Minimum to open: $0 for a cash account, $2,000 for an IRA.

As a financial institution and bank with branches all across the eastern part of the US and Canada, TD Ameritrade operates both in the U.S. and Canada. The brokerage offers services of a traditional brokerage house and discount firm, and it will be a more reassuring place to do business for those who are intimidated by online-only options. Unlike other investment firms, TD Ameritrade offers a wide array of investment options and provides additional services compare to some other best discount brokerage firms. For instance, two sophisticated trading platforms are available at no charge to all customers. Additionally, the broker provides over 100 commission-free ETFs which is a great added bonus for investors. The combination of high tech and professional grade research tools with a long history in the brokerage industry make TD Ameritrade a solid choice for any experienced or beginner investor.

 

TD Ameritrade Advantages

  • No inactivity or maintenance fees
  • No-fee IRA accounts
  • Wide range of investing options
  • Objective, outstanding third-party research from trusted sources
  • Sophisticated trading platforms, Thinkorswim and Trade Architect, free of charge
  • Over 13,000 mutual funds
  • Over 101 commission-free ETFs from 13 providers
  • Free Dividend Reinvestment Plans (DRIPs)
  • Virtual trading
  • Great customer service
  • Over 100 local branches

 

TD Ameritrade Disadvantages

  • High mutual fund commissions

Open an account: Join TD Ameritrade. Trade free for 60 days + Get up to $600.

TD Ameritrade Review »

 


Best Brokerage Firms In Canada: Scottrade

Scottrade is not registered to do business in Canada. In compliance with Canadian applicable laws and regulations the brokerage is no longer able to operate in Canada. Scottrade doesn't accept applications from Canadian citizens and residents.

The $75 transfer-out fee is waived for Canadian citizens who decide to transfer accounts to another financial institutions.

Scottrade review »

 

 

 

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