7 Best Online Trading Platforms in Canada for 2026

What Are the Trading Fees?

Questrade eliminated commissions on stock and ETF trades in early 2025, making it one of Canada's most cost-effective platforms. Options trade at $6.95 plus $0.75 per contract, while forex trades incur spreads starting from 0.8 pips on major pairs. There are no account minimums, no annual fees, and no inactivity charges.

The primary cost consideration is the 2% currency conversion fee for USD trades—higher than some competitors. Active traders can reduce this through Norbert's Gambit (converting CAD to USD via interlisted stocks) or by maintaining a USD sub-account to avoid repeated conversions.

What Can You Trade?

Questrade offers comprehensive market access: Canadian and US stocks, ETFs, options, forex (50+ currency pairs), mutual funds, bonds, and GICs. The platform also provides access to IPOs and new issues, giving traders early opportunities unavailable on simpler platforms.

For those interested in forex trading in Canada, Questrade's forex offering includes major, minor, and exotic pairs with leverage up to 50:1. International market access is available through Questrade Global, covering 15+ exchanges worldwide.

What Trading Tools Are Available?

Questrade provides multiple platform tiers: the standard web platform for casual traders, Questrade Edge (desktop) for active investors, and the new Questrade Pro for advanced analysis. Questrade Pro includes AI-powered insights, advanced charting with 100+ indicators, and sophisticated options analysis tools.

Real-time streaming quotes require a data subscription ($19.95/month for Canadian, $89.95/month for US Level 2), though snap quotes are free. The mobile app mirrors desktop functionality with full trading capabilities, watchlists, and portfolio tracking.

Who Is It Best For?

Questrade is ideal for active Canadian traders who want professional-grade tools without paying premium commissions. It suits options traders needing strategy builders and analytics, forex enthusiasts, and self-directed investors building diversified portfolios across multiple account types. Independent industry rankings consistently place Questrade as Canada's top-rated online brokerage.

What Are the Trading Fees?

Interactive Brokers uses tiered per-share pricing: $0.01/share for most stocks (minimum $1 per trade) or flat-rate $0.005/share for active traders. Options cost $1.50/contract. The real value lies in the 0.03% currency conversion fee—the lowest in Canada by a wide margin.

For a $10,000 USD trade, IB charges approximately $3 in FX fees versus $150-200 at competitors. This difference compounds significantly for frequent US stock traders. IB also offers the lowest margin rates in Canada, starting around 5.5% versus 7-9% at bank brokerages.

What Can You Trade?

Interactive Brokers provides unmatched global market access: stocks and options in 150+ markets across 33 countries, including Asian exchanges (Tokyo, Hong Kong, Shanghai), European bourses (London, Frankfurt, Euronext), and emerging markets. Canadian investors can trade TSX and US exchanges alongside international opportunities.

Asset class coverage includes stocks, ETFs, options, futures, forex (120+ currency pairs), bonds, mutual funds, and cryptocurrencies (through Paxos integration). This breadth makes IB ideal for globally diversified portfolios.

What Trading Tools Are Available?

Trader Workstation (TWS) is Interactive Brokers' flagship platform—a professional-grade interface with mosaic layouts, algorithmic orders, options analytics (OptionTrader), and real-time global market data. TWS includes over 100 order types, risk management tools, and portfolio analytics.

The simplified IBKR Mobile app provides core functionality for traders on the go, while IB Gateway offers API access for automated trading. Market data subscriptions vary by exchange, with many Canadian markets included free.

Who Is It Best For?

Interactive Brokers suits experienced traders who frequently buy US stocks (the FX savings justify the complexity), require global market access, or trade multiple asset classes. Day traders benefit from TWS's speed and advanced order types. The platform's complexity makes it unsuitable for beginners—consider Questrade or Wealthsimple if you're just starting.

What Are the Trading Fees?

Wealthsimple charges $0 commissions on all stock and ETF trades with no account minimum or inactivity fees. The platform's revenue model centers on the 1.5% currency conversion fee for USD securities—competitive with most Canadian brokerages but significantly higher than Interactive Brokers' 0.03%.

Wealthsimple Plus membership ($10/month) eliminates FX fees entirely, making it cost-effective for investors trading $700+ USD monthly. Plus also includes instant deposits up to $10,000 and real-time market data.

What Can You Trade?

Wealthsimple focuses on simplicity: Canadian and US stocks, ETFs, and cryptocurrencies. The platform deliberately excludes options, forex, and complex derivatives—reducing overwhelm for beginners while covering the essentials most new investors need.

Cryptocurrency trading includes Bitcoin, Ethereum, and 30+ altcoins with $1 minimums. Crypto trading happens 24/7, separate from stock market hours.

What Trading Tools Are Available?

The mobile-first design prioritizes ease of use over advanced features. The app includes basic charts, watchlists, portfolio tracking, and educational content. There are no advanced charting tools, technical indicators, or complex order types—by design.

Desktop access mirrors mobile functionality through a web portal. Real-time quotes require Plus membership; free users see 15-minute delayed data.

Who Is It Best For?

Wealthsimple excels for beginners who want simple, commission-free trading without overwhelming complexity. It's ideal for young Canadians building TFSA portfolios with Canadian stocks, casual investors, and anyone prioritizing user experience over advanced tools. The platform's limitations (no options, basic charts) mean active traders will eventually outgrow it.

What Are the Trading Fees?

Qtrade offers $0 commissions on stocks and ETFs with no account minimum. Options trade at $6.95 plus $0.75 per contract—identical to Questrade's pricing. Currency conversion fees are 1.5%, competitive with most Canadian brokers but higher than Interactive Brokers.

The $19.95 quarterly inactivity fee applies to accounts under $5,000 that execute fewer than two trades per quarter. Most active traders easily avoid this fee.

What Can You Trade?

Qtrade provides access to Canadian and US stocks, ETFs, options, mutual funds, bonds, and GICs. The platform covers most asset classes self-directed investors need, though global market access is limited compared to Interactive Brokers.

Extended trading hours (7am-8pm ET) give Qtrade clients an edge over competitors, allowing early-morning entry before market open.

What Trading Tools Are Available?

The Qtrade Investor platform balances simplicity and functionality with real-time streaming quotes (included free), advanced charting, options chains, and market screeners. Research includes Morningstar reports, analyst ratings, and educational webinars.

Customer service remains Qtrade's standout feature: phone support answered by knowledgeable representatives (not outsourced call centers), live chat, and comprehensive help documentation.

Who Is It Best For?

Qtrade suits investors who want low fees with reliable customer service—a rare combination. It's ideal for self-directed investors who occasionally need help, retirees managing RRIF withdrawals, and those transitioning from full-service brokerages who aren't ready to go completely DIY. The extended trading hours benefit early-morning traders.

What Are the Trading Fees?

Moomoo offers $0 commissions on stocks and ETFs with no account minimum or inactivity fees. Options trade at just $0.75 per contract with no base fee—the lowest in Canada. This pricing makes Moomoo especially attractive for options traders who execute multi-leg strategies.

Currency conversion fees are 1.5%, matching most Canadian competitors. Margin rates start around 6.5%, competitive but not as low as Interactive Brokers' 5.5%.

What Can You Trade?

Moomoo provides access to Canadian and US stocks, ETFs, and options. The platform focuses on liquid, actively-traded securities rather than comprehensive asset class coverage. No mutual funds, bonds, or GICs—this is purely for stock and options traders.

Hong Kong and Chinese stock markets are accessible for investors wanting Asian exposure, leveraging Moomoo's parent company Futu Holdings' Asian market expertise.

What Trading Tools Are Available?

Moomoo's standout feature is institutional-grade research tools at zero cost: Level 2 market data, real-time quotes, advanced charting with 60+ technical indicators, heat maps, unusual options activity scanners, and AI-powered stock screening. The platform includes analyst ratings, earnings calendars, and insider trading data.

Paper trading (virtual portfolio) lets beginners practice strategies without risking capital. The mobile app matches desktop functionality with a clean, modern interface.

Who Is It Best For?

Moomoo suits analytical traders who want advanced research tools without paying for expensive data subscriptions. Options traders benefit from the lowest per-contract fees in Canada. The platform's focus on active trading (rather than passive investing) makes it less suitable for buy-and-hold investors or those needing RESP/LIRA accounts.

What Are the Trading Fees?

TD charges $9.99 per stock trade, higher than independent brokers' $0 commissions. The fee is waived for accounts with $15,000+ balance or investors making 150+ trades annually—making TD more suitable for larger accounts. Options cost $9.99 plus $1.25 per contract.

Currency conversion fees are 1.5%, competitive with most Canadian brokers. For existing TD customers, the integrated banking (instant transfers, unified statements) may offset higher trading fees.

What Can You Trade?

TD Direct Investing offers comprehensive access to Canadian and US stocks, ETFs, options, mutual funds, bonds, and GICs. The platform also provides forex trading and access to international markets through TD's global network.

Mutual fund investors benefit from TD's extensive fund family, with many TD funds available at no load.

What Trading Tools Are Available?

WebBroker serves as TD's standard platform with real-time quotes, charts, and screeners. Active traders gain access to thinkorswim—TD's acquisition of the advanced trading platform from TD Ameritrade merger—offering institutional-grade charting, options analysis, and paper trading.

TD Securities research includes analyst reports, market commentary, and educational webinars. The TD app integrates trading with banking for seamless fund management.

Who Is It Best For?

TD Direct Investing suits existing TD Bank customers wanting unified banking/investing, investors with $15,000+ accounts (free trading), and those valuing Big Six security with branch support. The platform's higher fees make it less attractive for small accounts or cost-sensitive traders—Questrade or Wealthsimple are better options in those cases.

What Are the Trading Fees?

National Bank Direct Brokerage offers $0 stock and ETF commissions with no minimum balance or trade frequency requirements—the only Big Six bank to do so. Options cost $6.95 plus $1.25 per contract, competitive with independent brokers.

Currency conversion fees are 1.5%, standard for Canadian brokers. The combination of $0 commissions and bank-level security makes NBDB attractive for cost-conscious investors who want Big Six backing.

What Can You Trade?

NBDB provides access to Canadian and US stocks, ETFs, options, mutual funds, bonds, and GICs. The platform covers standard asset classes for self-directed investors without exotic instruments or international markets.

National Bank's mutual fund family is available, with many funds at reduced or no load for NBDB clients.

What Trading Tools Are Available?

The NBDB platform offers essential trading functionality: real-time quotes, basic charting, screeners, and research. Tools are functional rather than cutting-edge—adequate for most investors but lacking the advanced features of Questrade Pro or Interactive Brokers' TWS.

National Bank clients benefit from integrated banking, instant fund transfers, and unified statements. Branch access provides in-person support when needed.

Who Is It Best For?

National Bank Direct Brokerage suits investors wanting Big Six security at independent broker pricing. It's ideal for existing National Bank customers (especially in Quebec), cost-conscious investors who value bank stability over advanced tools, and those wanting branch support access without paying TD's premium fees. The platform's straightforward approach works well for long-term investors focused on Canadian stocks and ETFs.