Best Online Brokerages in Canada 2026(That Aren't the Banks)
Canada's banks charge $5–$10 per trade and still call it competitive. The platforms below have made that model obsolete. Independent comparison covering commissions, registered accounts, DRIP programs, margin rates, and customer service.
Top-Rated Platform
8.8/10
Wealthsimple
The platform that made commission-free trading mainstream in Canada
Important: CIPF protects assets held at member brokerages if the brokerage becomes insolvent. It does not protect against investment losses. All platforms listed here are CIPF members. Commissions and rates change frequently; always verify current pricing at each platform's website before opening an account.
Why we cover these platforms
CreditUnionDirectory.ca is built around credit unions, and that is not going to change. But our broader mission is to help Canadians find every meaningful option for their money outside the Big Five banks. Self-directed investing is a big part of that picture. Commission-free trading, fractional shares, and full registered account access no longer require a bank appointment or a high account minimum. We cover these platforms because the choices Canadians make about their investments are just as important as where they do their banking. Whether a credit union is the right fit, one of these platforms is, or a combination of both, that decision belongs to you. Our job is to give you a clear, independent look at what is available so you can make the choice that is right for your money.
Wealthsimple
Commission-free Fractional sharesThe platform that made commission-free trading mainstream in Canada
Free
Commission-free on Canadian and US stocks and ETFs
Synthetic DRIP
no purchase discount
Available
From Prime + 0.5% for CAD margin; lower rates at Premium ($100K+) and Generation ($500K+) asset levels
Mobile-first design with real-time market data and a clean, approachable interface. Desktop web access is available but the experience is built around the app.
Support quality varies by assets held. Core account holders report slower response times; Premium ($100K+) and Generation ($500K+) clients receive priority access and faster response.
- Commission-free trades on Canadian and US stocks and ETFs
- Mobile-first design that is genuinely easy to use
- Managed portfolios and self-directed accounts in one app
- FHSA, LIRA, RESP, and RRIF available alongside the standard TFSA and RRSP
- Fractional shares let you invest with any dollar amount
Beginners, passive investors, and Canadians who want managed and self-directed accounts in one simple app
Qtrade is owned by Canadian credit unions
Aviso Wealth, which operates Qtrade Direct Investing, is jointly owned by credit union centrals and credit unions across Canada. When you invest through Qtrade, your account remains in the credit union ecosystem. Many credit unions offer Qtrade accounts directly, so check with your local credit union to see if this is an option.
How we rate these platforms
Ease of Use
How accessible the platform is for investors at different experience levels, based on interface design, onboarding, and mobile availability.
Platform Quality
The depth of trading tools, order types, research data, and charting capability available.
Costs
Commission structure, account fees, currency conversion costs, and how the pricing model compares to peers.
Account Types
Coverage of registered accounts (TFSA, RRSP, FHSA, RESP, LIRA, RRIF) and non-registered options.
Customer Service
Support quality, availability, response times, and user satisfaction based on independent reporting and aggregated user reviews.
Ratings reflect independent editorial judgement as of 2026. We do not accept payment from any platform in exchange for ratings or rankings. Affiliate links are marked with "sponsored" in their rel attribute.
Frequently asked questions
Head-to-Head Comparisons
From CreditUnionDirectory.ca
Ready to plan what you're actually investing toward?
Once you've chosen a brokerage, the next question is how much to contribute. Our Canadian retirement calculator uses real 2026 tax brackets, accurate CPP and OAS formulas, and your actual province to show exactly what your savings are worth at retirement.
Information on this page is for general informational purposes only and does not constitute investment advice. Commissions, fees, and platform features change frequently. Always verify current details directly with each provider before opening an account. CreditUnionDirectory.ca is not responsible for any decisions made based on this content.