Discount Brokerage Firms – Comparison Chart

Are you contemplating making the switch to a new online brokerage? Use the Brokerage Firms – Comparison Chart below to make your own informed decision.

Click to download a PDF version of this Comparative Chart

BMO Investor Line B2B Bank Discount Brokerage CIBC Investor's Edge Desjardins Online Brokerage
What is the basic online equity trading commission? $9.95
(flat fee)
*online trades only
$Under $2.00/share it's
$45 + $0.01/share to a
max of $50
Over $2.00/share it's
$45 + $0.05/share to a
max of $50
$6.95
(flat fee)
*online trades only
$9.95
(flat fee)
*online trades only
RRSP and Annual Admin Fee $100 + tax
Waived if total of all registered accounts is $25,000 or greater
(excluding RESP & TFSA)
$135 + tax
Waived if RRSP holds only B2B products for a full year.
Also, $15 rebate if eligible Mackenzie mutual funds are purchased.
$100 + tax
Waived if the total equity of the RRSP is $25,000 or greater
$100 + tax
Waived only if the combined total equity of all registered accounts is
$25,000 or greater; OR 125 trades/year
Can you hold U.S. dollars in an RRSP? Yes No Yes Yes
Class D Funds?
Best Attributes Simple account
opening process

Award-winning tools
and research

Mobile & tablet apps
Comparable commissions

Alerts

Live trading & investor
services by phone
Low equity commissions

Analyst reports included at no extra charge

Online trading & mobile app
Training programs for
novice investors

Superior analysis tools

Model portfolios to replicate
Customer Service Hours of Operation & Phone Number Mon-Fri
8:00 am-8:00 pm
(ET)

1-888-776-6886
Mon-Fri
8:30 am-5:00 pm
(ET)

1-866-542-3403
Mon-Fri
8:00 am-8:00 pm
(ET)

1-800-567-3343
Mon-Fri
7:00 am-9:00 pm
(ET)

1-866-873-7103
Click for more information Website Website Website Website
HSBC InvestDirect National Bank Direct Brokerage Qtrade Investor Questrade RBC Direct Investing
What is the basic online equity trading commission? Starting at
$6.88
(flat fee)
*online trades only
$9.95 if less than 30 trades/quarter

$6.95 if more than 30 trades/quarter
$8.75
(flat fee)
*online trades only

$6.95 if 150+ trades/quarter, and/or $500K+ in assets
$0.01/share
$4.95 min. to a max of $9.95).
$9.95
(flat fee)
*online trades only

$6.95 if 150+ trades/quarter
RRSP and Annual Admin Fee $100 + tax
Waived if the total equity of the RRSP is $25,000 or greater, OR if contributions of
$100/month are made
$100 + tax
Waived if the total equity of the RRSP is $25,000 or greater, OR 5 trades/year
$25 + tax/quarter
Waived if the total equity of the RRSP iss $25,000 or greater, OR 2 trades/quarter, OR if contributions
of $100/month are made
No annual admin fee
$24.95/quarter inactivity fee is waived if the total equity of all accounts is $5,000 or greater, OR 1 trade/quarter,
OR 25 yrs of age or younger
$25 (no tax)/quarter
Waived if the total equity of all accounts is $15,000 or greater, OR 1 trade/month, OR if contributions
of $100/month are made
Can you hold U.S. dollars in an RRSP? Yes Yes Yes
*but not in the same RRSP
Yes Yes
Class D Funds?
Best Attributes Low commissions

Banking integration

Global trading capability

Award winning
client service
Quick account opening process

Competitive fees

Education centre

Advanced trading tools
Low trading commissions

Easy to use platforms

Powerful tools

Outstanding service
Low commissions

State of the art
trading platforms

Mobile accessibility

Advanced research
& tools
Banking integration

Mobile and online trading

Broad line-up of tools
& resources
Customer Service
Hours of Operation & Phone Number
Mon-Thurs: 24 hours
Fri: 12:00 am-8:00 pm
Sun: 6:00 pm - 12:00 am
(ET)

1-800-760-1180
Mon-Fri
8:00 am-8:00 pm
(ET)

1-800-363-3511
Mon-Fri
8:30 am-8:00 pm
(ET)

1-877-787-2330
Mon-Fri
7:30 am - 8:00 pm
(ET)

1-888-783-7866
Mon-Fri
7:00 am - 8:00 pm
(ET)

1-800-769-2560
Click for more information Website Website Website Website Website
Scotia iTRADE TD Direct Investing Virtual Broker
What is the basic online equity trading commission? $4.99
(150+ trades/quarter)

$9.99
(30+ trades/quarter or $50K in combined assets)
$9.99
(flat fee)
*online trades only

$7.00
(150+ trades/quarter)
$0.01/share
($1.99/ticket min
to a $7.99/ticket max)

$3.99
(flat fee)
(150+ trades/quarter
RRSP and Annual Admin Fee $100 + tax
Waived if the total equity of the RRSP iss $25,000 or greater in total equity, OR 12/trades/year
$25/quarter
Waived if the total equity of the RRSP is
$15,000 or greater, OR 3 trades/quarter, OR quarterly deposits of $100 or greater
$24.95/quarter
Waived if the total equity of all accounts is $5,000 or greater
Can you hold U.S. dollars in an RRSP? Yes Yes Yes
Class D Funds?
Best Attributes Competitive pricing

Banking integration

Online trading & mobile app
Market data

Global trading capabilities

Education centre
Low commissions and fees

Education centre

Free research tools
Customer Service
Hours of Operation & Phone Number
Mon-Fri
8:00 am - 9:00 pm
Sat: 8:00 am-6:00 pm
(ET)

1-888-872-3388
24 Hours
7 Days a Week
Including Holidays
(ET)

1-800-465-5463
Mon-Fri
8:00 am - 5:00 pm
(ET)

1-877-310-1088
Click for more information Website Website Website

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Additional Resources

Canadian Banks