Best Brokerage Firms In Canada: Questrade
Pricing for active traders:
- Stocks: 1¢ per share (min. $4.95 / max. $9.95)
- Options: $9.95 + $1 per contract
- ETFs: commission-free
- 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.
- 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.
- 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 »