2023 comparison grid
BMO InvestorLine
CG Direct
CIBC Investor’s Edge
CI Direct Trading
Desjardins Online Brokerage
HSBC InvestDirect
Laurentian Bank Discount Brokerage
National Bank Direct Brokerage
Qtrade Direct Investing
Questrade
RBC Direct Investing
Scotia iTRADE
TD Direct Investing
Wealthsimple Trade
Interactive Brokers
Minimum dollar amount to open an account
✘
✘
✘
✘
✘
✘
✘
✘
✘
✔
$1,000
✘
✘
✘
✘
✘
Standard Stock Trading commissions for average investors
$9.95
$9.99
$6.95
$0.01 per share (min. $1.99/max. $7.99)
$0
$6.88
$9.95
$0
$8.75
$0.01 per share (min. $4.95/max. $9.95)
$9.95
$9.99
$9.99
$0, not all stocks and ETFs are available
$0.01 per share (max 0.5% of value/min. $1) and U.S. $0.005 per share (min. $1/max. 1% of value)
ECN fee on top of the regular commission
✔
✔
✔
✔
After-hours U.S. markets
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✘
✘
✘
✘
✔
✘
✔
After-hours U.S. markets
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✘
✔
Commission fees for more than 150 trades per quarter
✘
✘
✔
$4.95
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$3.99
✘
✔
$4.88
✘
✘
✔
$6.95
✔
$0.01 per share (max. $6.95)
✔
$6.95
✔
$4.99
✔
$7
✘
✘
Commission fees for students or young adults
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✘
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$0 under 25 with banking (or $5.95 students older than 25)
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✘
✘
✘
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$7.75 (qualified 18-30 investors)
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✘
✘
✘
✘
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$0 commission ETFs
✔
80
✘
✘
✔
all-buys only
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all
✘
✘
✔
all
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100 excluding day trading
✔
all-buys only
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✔
103
✔
Only ETFs with TD EasyTrade
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Limited Not all available
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Limited, no clear list
Basic options trading commissions
$9.95 + $1.25 per contract
$1.00 per contract (min. $10)
$6.95 + $1.25 per contract
$7.99 + $1.25 per contract
$1.25 per contract
(min. $8.75)
$6.88 + $1.25 per contract
$9.95 + $1.25 per contract
$0 + $1.25 per contract
(min. $6.25)
$8.75 + $1.25 per contract
$9.95 + $1.25 per contract
$9.95 + $1.25 per contract
$9.99 + $1.25 per contract
$9.99 + $1.25 per contract
USD$2 per transaction/U.S. options only
$1.25 per contract (min. $1.50)
Annual fees for non-registered accounts
✔
$100
✘
✔
$100
✔
$100
✘
✘
✔
$120
✔
$100 divided across all accounts
✔
$100
✘
✘
✔
$100
✘
✘
✘
Annual fee for registered account
✔
$100
✔
$125
✔
$100
✘
✘
✘
✔
$100
✔
$100 divided across all accounts
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$100
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✘
✔
$100
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✘
✘
Min. account size required to avoid annual fee
$25,000 registered/ $15,000 non-registered
✘
$25,000 registered/$10,000 non-registered
$5,000 across all accounts/no fees for clients 26 or younger.
$15,000 registered/$15,000 non-registered, or 125 completed trades per year
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2 completed trades in 6 months, or$15,000 non-registered, or $25,000 registered accounts
$20,000 across all accounts, or younger than 30, or enrolled professional, or hold InvestCube account
$25,000 across all accounts, or young investor, or $100 monthly $100 contribution, or minimum trades per month
✘
$1,000 minimum account opening requirement
$15,000 across all accounts, or 3 completed trades per quarter, or $300+ quarterly deposits and banking relationships
Investors < 26 years old
ORRegistered $25,000 or 12 completed trades per year OR Non-Registered$10,000 or 1 completed trade per quarter
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Inactivity fee
✔
$25 per quarter
✔
$20 per month
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✔
$24.95 per quarter
✔
$30 per month
✔
$25 per quarter
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$25 per quarter in non-registered accounts
✔
$25 per quarter
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✔
$10 per month minus USD commissions
How to avoid inactivity fee
>$15,000 in account assets,
or 2 executed trades over 6 months in non-registered accounts
✘
✘
✔
Place one $1.99 trade per quarter, or be younger than 26
✔
>$15,000 in account assets, or 6 executed trades over past 12 months, or a registered account
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Combined assets of >=$25,000 CAD all accounts, or opened account for < 90 days, or Jade customer, or 3 executed over past quarter
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<$10,000, or 1 executed trade over 3 months, or new account, or younger than 25
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>$15,000 household assets, or 3 trades over 3 months, or new account, or TD Easy Trade accounts
No fee
✔
$3 for younger than 25, or > USD$100,000 account
Non-customer wait for digital service enquiry
44 hours
(37 in 2022)
11 hours
(50 in 2022)
80 hours
(31 in 2022)
26 hours
(7 in 2022)
43 hours
(28 in 2022)
43 hours
(81 in 2022)
23 hours
(29 in 2022)
113 hours
(118 in 2022)
5 hours
(5 in 2022)
13 hours
(21 in 2022)
13 hours
(7 in 2022)
59 hours
(37 in 2022)
16 hours
(26 in 2022)
25 hours
(16 in 2022)
12 hours
(20 in 2022)
Click for more information
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