Best Online Brokers in Canada

    Risk Disclaimer >>
    Ad disclosure StockHax is dedicated to helping you make informed financial decisions. To do so, we partner with professionals to bring you up-to-date news and information. By clicking on certain links, sponsored posts, products and/or services, transferring leads to brokers, or advertisements, we may receive compensation. We make sure that our users do not experience any disadvantages resulting from interacting with our website. Please be aware that none of the information provided on our website should be seen as legally binding, tax advice, investment advice, financial advice, or any other type of professional advice. Our Content is solely for informational purposes. If you have any doubts, we recommend you to seek the advice of an independent financial advisor. Read More >>

    This website and its content are not intended to provide professional or financial advice. The views expressed here are based solely on the writer’s opinion, research, and personal experience, and should not be taken as factual information. The author is not a financial advisor and lacks relevant certifications in that regard. We highly recommend consulting a qualified financial advisor before making any investment decisions, as the information presented on this site is general in nature and may not be tailored to individual needs or circumstances

    We have observed a growing interest in trading and investing in recent years, and the number of Canadian investors who choose online brokers for their investment goals and strategies is more prominent than ever. With growing interest comes growing demand, and many new companies have been created to satisfy a larger demographic of Canadian customers and gain a larger market share. With this in mind, not every trading platform is created equal, and choosing the best one is more important than you may think. Our comprehensive review of the best online brokers in Canada aims to eliminate the hassle and help you make the right pick for your trading needs.

    Introduction to Online Brokers in Canada

    Online brokerages in Canada are companies that help Canadian citizens trade different investment instruments on the global market reliably and transparently. These trading platforms are regulated by major financial regulatory bodies like the Canadian Securities Administrators (CSA), ensuring the safety of the customer’s funds and data. Besides delivering first-class investment services, online brokers also offer financial services, trading instruments, mobile trading, and other practical features that make a trader’s life much more effortless.

    Advantages of using a Regulated Online Broker in Canada

    Online brokers generally have lower costs than traditional brokerage firms, which is a great way to engage in more cost-effective trading, suitable for investors on a budget. Combine that with the protection of your funds, and by following this approach, you can create a recipe for a more secure and informed strategy for your investment activities. These are just a few examples of the advantages you will get from trading with the best online brokers in Canada. With technology advancing and companies constantly incorporating new features and services, the possibilities in this niche are endless.

    Overview of the Best 5 Online Brokers in Canada– Our Top Picks for 2023 

    To get the best deals for stocks, crypto, forex, and other instruments traded on the global markets, we have gathered the five leading online brokers in Canada for 2023. Our detailed reviews of the best trading platforms will help you find a reputable broker to make meaningful investment decisions.

    Wealthsimple – The Most Beginner-Friendly Broker in Canada

    We will start our list with Wealthsimple, the Canadian-based financial technology company that offers the most user-friendly services on the market. Because of their easy-to-use platform and zero commission fees, this online broker is perfect for the young beginner investor with a small portfolio looking to buy Canadian stocks and ETFs.

    Wealthsimple packs a range of financial services, including robo-advisory investment management, trading, savings accounts, and cryptocurrency trading. Wealthsimple’s managed investing services take an innovative approach, offering unique services that focus on building portfolios.

    Trading stocks and ETFs with this online broker is a pleasant and straightforward process, as investors can choose from thousands of digital assets and trade them with no commissions or account minimums. Although traders can just as easily buy US stocks and ETFs as Canadian ones, upgrading to the Plus account will be a good idea to avoid excessive fees.

    Account TypesTax-Free Savings Accounts (TFSAs), Registered Retirement Savings Plans (RRSPs), Joint Accounts, Registered Education Savings Plans (RESPs), Locked-In Retirement Accounts (LIRAs), Registered Retirement Income Funds (RRIFs), Corporate Accounts
    Supported AssetsStocks, ETFs, Bonds, Mutual Funds, Cryptocurrencies, Cash (Wealthsimple Save), Wealthsimple Alternative Investments program
    ToolsWealthsimple Invest, Wealthsimple Trade, Wealthsimple Cash, Wealthsimple Crypto, Wealthsimple Tax, Wealthsimple Cash Management, Wealthsimple Save
    Fees & Charges$1 Minimum Deposit, No Inactivity Fee, 0.5% Administration Fee
    Mobile TradingSupported
    Overall Rating4.7★

    Desjardins Online Brokerage (DISNAT) – The Best Full-Service Broker in Canada with Advanced Trading Tools and Low Fees

    Desjardins Online Brokerage, also known as Disnat, is a full-service online broker made for self-directed investors. This reputable brokerage is developed by Desjardins financial group, a Canadian financial services cooperative, the largest federation of credit unions in North America, backed by over 100 years of experience. Disnat empowers traders to trade smarter with no-fee transactions, and with its low fees and charges, this is one of the most cost-effective trading platforms on our list.

    Besides budget-friendly trading services, Disnat offers numerous other perks, including state-of-the-art trading platforms, including Disnat Classic and Disnat Direct. These innovative tools provide the perfect solutions for beginner, experienced, and active investors, with real-time quote updates, in-depth technical analysis, and many other practical tools and features. The company offers other perks: its functional mobile app, specialized professional services, and comprehensive learning resources on technical and fundamental analysis.

    Account TypesMargin Account, TFSA (Tax-Free Savings Account), RRSP (Registered Retirement Savings Plan), RESP (Registered Education Savings Plan), LIRA (Locked-In Retirement Account), RIF (Retirement Income Fund), Corporate Account, Trust Account, Joint Account
    Supported AssetsStocks, Options, ETFs, Mutual Funds, Bonds, GICs, Currencies, Precious metals
    ToolsDisnat Classic, Disnat GPS, Disnat Direct, Disnat Pro, Disnat Mobile, Disnat Market Data, Disnat Investor Education
    Fees & Charges$1000 Minimum Deposit, $25 Inactivity Fee, $100 Administration Fee
    Mobile TradingSupported
    Overall Rating4.5★

    Qtrade – The Best Online Broker in Canada for Trading with 0% Commission

    Qtrade is an online brokerage platform that empowers traders to confidently buy & sell stocks, bonds, ETFs, and mutual funds with low trading fees and 0% commission. This platform is one of the overall best platforms on the Canadian market, as it covers all skill levels by offering services tailored for beginner, intermediate, and advanced traders.

    Qtrade’s goal is to help its customers trade confidently with the help of industry-leading tools, robust trading platform, and Canada’s best customer support services. Furthermore, investors have the flexibility to make numerous investment choices, from mutual funds, options, and GICs, to Canadian and U.S. bonds, stocks, and over 100 ETFs traded without commission.

    The platform’s mobile solutions, compatible with iOS and Android devices, help investors stay connected to the markets from any place at any time. Qtrade is the best online broker in Canada for trading on low fees and the perfect choice for self-directed investors looking for a trading platform with the highest quality services.

    Account TypesNon-registered Account, Registered Retirement Savings Plan (RRSP), Tax-Free Savings Account (TFSA), Registered Education Savings Plan (RESP), Locked-In Retirement Account (LIRA), Registered Retirement Income Fund (RRIF), Spousal RRSP
    Supported AssetsStocks, Options, ETFs, Mutual Funds, Bonds, GICs, Currencies, Precious Metals
    ToolsQtrade Investor, Qtrade Advisor, Qtrade Mobile, Qtrade Edge, Qtrade Market Intelligence, Qtrade Wealth Management
    Fees & ChargesNo Minimum Deposit, No Inactivity Fee, No Administration Fee
    Mobile TradingSupported
    Overall Rating4.4★

    Questrade – The Best Online Broker in Canada for Advanced Traders

    Questrade is an online brokerage platform that is the best choice for advanced Canadian traders due to its innovative trading platforms, tools, and versatile account types that help investors make advanced trading decisions. This broker has an outstanding reputation on the Canadian market, with 22 years of experience, $30 billion assets under administration, and 11 times winner of Canada’s best-managed companies award.

    Questrade’s trading platforms offer unique features and tools to benefit beginner traders, but more developed professionals can utilize the most out of their services. Questrade Trading is the most advanced platform, designed for active traders, and includes customizable charts, real-time level 2 quotes, advanced order types, and access to advanced market data.

    The brokerage provides various tools that target advanced traders, including advanced charting tools, technical analysis indicators, and third-party trading platforms such as MetaTrader 4. Additionally, Questrade’s APIs allow traders to develop and automate their trading strategies.

    Account TypesMargin Account, TFSA (Tax-Free Savings Account), RRSP (Registered Retirement Savings Plan), RESP (Registered Education Savings Plan), LIRA (Locked-In Retirement Account), RIF (Retirement Income Fund), Corporate Account, Trust Account, Joint Account
    Supported AssetsStocks, Options, ETFs, Mutual Funds, Bonds, GICs, Currencies, Precious Metals, Cryptocurrencies
    ToolsQuestrade Trading, Questrade Mobile, Questrade IQ, Questrade Portfolio IQ, Questrade Learning Centre, Questrade Community
    Fees & Charges$1000 Minimum Deposit, $25 Inactivity Fee, No Administration Fee
    Mobile TradingSupported
    Overall Rating4.3★

    Interactive Brokers – The Best and Most Comprehensive Online Broker in Canada for Trading on Low-Fees

    Interactive Brokers is an online broker that provides high-quality, trusted financial services globally. In Canada, this company presents investors with the best trading platform, packed with comprehensive tools and features suitable for novice and expert traders. Utilizing all the practical characteristics of IBKR’s platform and low-fee trading allows Canadian investors to get the finest deals through one of the best online brokers in the country.

    The powerful trading platform of Interactive Broker helps traders reach their investment goals. The robust platform has a web version, a desktop app, and even mobile trading functionality.

    With research, market commentary, news, and comprehensive reporting tools, traders will discover new investment opportunities and get portfolio analysis and many more perks. Make even better trading decisions with the platform’s free trading tools that automatically spot market opportunities, analyze results, and manage your account. Lastly, the order types and alogs tools all help traders place hundreds of order types, enhancing their trading strategy.

    Account TypesIndividual Account, Joint Account, Trust Account, IRA Account, UGMA/UTMA Account, Friends and Family Advisor Account, Proprietary Trading Group Account, Institutional Account, Broker Master Account
    Supported AssetsStocks, Options, Futures, ETFs, Mutual Funds, Bonds, Currencies, Metals, Cryptocurrencies
    ToolsTrader Workstation (TWS), WebTrader, IBKR Mobile, IBKR APIs, PortfolioAnalyst, Fundamentals Explorer
    Fees & Charges$100 Minimum Deposit, $50 Inactivity Fee, $100 Administration Fee
    Mobile TradingSupported
    Overall Rating4.8★

    Key Features to Consider When Choosing the Best Online Broker in Canada

    In this key features section of our review, we will closely examine the factors that determine the best online brokers in Canada in our list. From account types and available tools to excellent customer service and mobile trading functionality, we’ve covered everything required for a seamless trading experience below.

    Account Types 

    Growing as a trader is much easier when you are presented with numerous account types offering more advanced plans, deals, tools, fees, and features. These offers will become more useful when you enhance your expertise in the trading world. With more options presented, the switching process will be more straightforward.

    Supported Assets and Investment Options 

    Putting all eggs into one basket is a risky approach in trading, as it may lead to losing all your assets at once if market conditions in a specific industry suddenly worsen. With more supported assets, you can diversify your portfolio, giving you more control over your assets.

    Tools Offered

    Understanding how your assets perform is essential to executing informed trades in the long run. Having access to valuable insights and analysis tools will help you track progress in a much more manageable way. With the information you have gathered, you will start making progress plans and improve your trading quickly.

    Trading Interface

    Well-designed trading interfaces provide access to everything trading related in one easily manageable place. When all features are more accessible, you will be more proficient at executing deals, navigating the trading platform, and making faster investment decisions. These small details will result in a better trading experience.

    Fees & Charges 

    You must opt for an online broker that has competitive fees and charges to get the most out of your deals. This choice alone will remove any excess taxes like account management and deposit/withdrawal fees, which take out a large chunk of your earnings at the end of each month.

    Mobile Trading

    Mobile trading apps are incredibly versatile, as they help investors trade on the go, from anywhere, at any time, accessible in just a couple of clicks on your phone. With the advancement of technology, these applications have become so powerful that all features necessary for trading are packed into one place.

    Customer Support

    Having the support needed to resolve your issues quickly and on time is highly appreciated, especially when you stumble upon a problem that needs to be settled promptly. Choosing a platform with an experienced customer service team will save you much time and stress when it comes to trading.

    Comparison Between the Best Online Brokers in Canada for 2023:

    The best way to make an informed decision when it comes to picking the best online broker in Canada is by reading a comprehensive analysis of the pros and cons of the platforms. Luckily, we have created an informative table below that is compact and will make your choice much more straightforward:

    Online Brokers:Pros:Cons:
    WealthsimpleCash Rewards and Referral Programs
    Commission Free Stocks and ETF Trading
    Managed Investing Tool
    Top-Notch Security
    High Currency Conversion Fees
    Lack of Analysis and Research Tools
    DISNATNo-Fee Transactions
    Excellent Customer Support
    Top-of-the-line Investment Training
    Extra Perks for Young Investors
    Outdated Platform and App
    $1000 Minimum Deposit
    Qtrade Industry Leading Tools
    Robust trading platform
    Free Trial Account
    Trusted Broker with Numerous Positive Client Reviews
    Relatively High-Fees
    Not the Best for Active Day Trading
    QuestradePractical Advanced Trading Tools
    Pre-built Portfolios
    22 Years in the Canadian Market
    Regulated by IIROC and CIPF Member
    Premium but Costly Services
    $1000 Minimum Deposit
    Interactive BrokersGlobal Market Access
    Powerful Trading Platforms
    Globally Trusted Online Broker
    On-Demand Educational Resources
    Complex Trading Platform
    Suitable Mainly for More Advanced Traders

    Best Online Brokers in Canada for 2023 – StockHAX’s Conclusion

    To conclude our review, the shift towards online trading has increased the number of trading platforms in the Canadian market, making it challenging to choose the best one. However, our review of the best online brokers in Canada for 2023 eliminates the hassle and thoroughly breaks down the top five brokers. We have highlighted the fundamental features you must consider when making your choice, including account types, supported assets, customer service, and more. By carefully examining the presented factors, you can make an informed decision and pick the online broker that best defines you as a trader.


    Which are the best online brokers in Canada right now?

    There are numerous great online brokers in Canada; however, we have thoroughly researched the market and discovered that Wealthsimple, DISNAT, Qtrade, Questrade, and IBKR offer the best services.

    Which online broker in Canada has the lowest fees?

    From our research findings, Qtrade has the lowest fees, as the company does not charge a minimum deposit, inactivity fee, or administration fee and even provides 0% commission trading.

    Which online broker in Canada is the best for beginner traders?

    Wealthsimple’s user-friendly trading platform and mobile app make it the best for beginner traders with little or no experience in the investment industry.

    Risk Disclaimer

    StockHax strives to provide unbiased and reliable information on cryptocurrency, finance, trading, and stocks. However, we cannot provide financial advice and urge users to do their own research and due diligence.

    Read More
    Previous articleBest Lowest Spread Forex Brokers
    Next articleBest Online Brokers in the Netherlands
    Avatar photo
    Nikolay's fascination with the world of cryptocurrencies was sparked when he joined the team at, one of the biggest crypto trading exchanges. He was able to delve into the available educational resources and recognized the many benefits of this industry, leading him to focus his expertise on crypto and promote its widespread adoption. Nikolay has worked as a copywriter for large companies in the financial sphere. Outside of the crypto niche, Nikolay has experience writing content about personal finance, financial culture, and investment portfolio building, which are some of his favorite topics. He enjoys communicating with new clients and learning skills to help him improve as an author.