Best brokerage account promotions in Canada

BMO InvestorLine charges $9.95 per stock trade but offers over 80 ETFs with no trading fees. It stands out for its wide variety of assets, account types, and the option to open USD-registered accounts for trading U.S. stocks. With no minimum balance requirement to open an account, investors gain access to robust research tools, perfect for more experienced traders.

CIBC bank is currently offering a banking promotional package if you’re looking to switch over all of your accounts. When you open a chequing and savings account and you meet the criteria for qualifying, you can earn up to $600.

CIBC charges $6.95 per trade for stocks and ETFs but doesn’t charge for mutual funds (though be mindful of the hidden fees).

Based on our previous review, we discovered that CIBC ranks low in customer service. However, the brokerage is backed by one of the largest banks in Canada, and young investors (between 18 and 24) can trade stocks and options for free.

Desjardins Online Brokerage offers commission-free trading for stocks and ETFs. While Desjardins isn’t generally known for its online brokerage services, this can be the right choice if you’re looking for educational resources and commission free trading in Canada. If you’re a young investor between 18 and 30, Desjardins will reimburse you up to $150 in transfer fees.

Desjardins Online Brokerage isn’t currently offering any promotional offers. However, you can have the $30 quarterly inactivity fee waived if you make over six trades in a year. The notable issue is that most online brokerages don’t even charge an inactivity fee in the first place.

Moomoo is a global investing app that launched in Canada in 2023, offering low trading fees, a powerful trading platform, and extensive educational resources. However, it lacks some features compared to top Canadian brokerages.

Moomoo Canada stands out for low-cost trades and advanced charting tools, making it a strong choice for active traders and beginners.

National Bank touts that it’s the first brokerage to offer commission-free trading for Canadian and US stocks. With no trading fees and access to educational resources like webinars and training materials, this is one of the best brokerage accounts for those looking to save on commissions. However, you can’t ignore the $100 annual administration fee and that there have been issues reported with the usability of the mobile app.

National Bank will waive the $100 annual administration fee if you meet the qualifications as an offer. However, the qualifications will include being a young investor under 30 or holding eligible assets of at least $20,000.

Qtrade is known for its award-winning customer service, exceptional educational resources for investors and ease of use. The Globe and Mail rated Qtrade A-, and it has been consistently rated as the top online broker in Canada for the last decade. The Portfolio Score tool helps clients work on their portfolios by reviewing the risks. Qtrade charges $0 per trade with commission-free trading for stock, mutual fund and ETFs.

Based on our extensive research, Questrade is the best online brokerage in Canada due to its low fees and simple DIY trading platform. Questrade is one of the most well-established online brokerages in Canada, in part due to the excellent customer and account options for investors.

You can get five commission-free stock trades if you open and fund a new TFSA or margin online trading account with $1,000. Questrade also has a referral program, where you can earn $50 with up to 30 friends or relatives per year for every account sign-up. You can transfer your account for free, get five free trades and then refer friends to maximize your switch to Questrade.

RBC Direct Investing doesn’t require a minimum account to get started, and you can even open a practice account until you’re ready to start investing. However, RBC Direct Investing charges $9.95 per trade, which is higher than many of the other options in this article, and there’s also a quarterly maintenance fee.

RBC Direct Investing is offering a promotion worth up to $5,700 for new clients who open an eligible account by March 31, 2025, and transfer at least $15,000. The offer includes a $300 cash bonus and up to 500,000 Avion points. To qualify, clients must also be Avion Rewards members by May 3, 2025.

Scotia iTRADE is the online brokerage for Scotiabank, which is one of the largest banks in the country and it would simplify your financial life if you already have an account with them. However, it’s worth pointing out that the Scotia iTRADE online brokerage has received poor reviews from users based on customer service, the high fees, and issues with the mobile app.

*Conditions apply. Offer valid for new and existing Scotia iTRADE® clients and applies to new or existing accounts.

The Globe and Mail gave TD Direct Investing an A rating because the online brokerage offers tools for managing your portfolio. Trading fees depend on whether you’re considered a standard trader (less than 150 trades per quarter) or an active trader (over 150 trades per quarter).

Standard traders pay $9.99 per trade, while active ones pay $7 per trade. It comes down to deciding if the fees are worth having access to the market research tools.

New or existing clients who open a new TD Direct Investing account could be eligible for a reimbursement of account transfer fees of up to $150 when $25,000 or more in assets are transferred from another financial institution.

†Terms and Conditions Apply.

It's a great app for beginner investors with no minimums and the ability to trade in partial shares and 50 commission-free stock trades each year per client. You can also buy TD ETFs with $0 commission and access the TD mutual funds.

The always-on offer: Open a new TD Easy Trade account and you could be reimbursed for any fees—up to $150 — when you transfer funds from another brokerage.

Wealthsimple is the best online brokerage if you’re looking for a top notch user experience. With no account minimums to get started and zero commission trading, this is the ideal account for most investors. Even though Wealthsimple has limited portfolio options and there are currency fees for purchasing US stocks, you can expect reasonable fees and access to quality human advisors.

Current Wealthsimple Promo:

$25 Cash Bonus

Get a $25 cash welcome bonus when you open and fund your account within 30 days with as little as $1.

Each offer has some fine print, of course, but the core takeaway? Wealthsimple’s giving away serious perks for doing what you were likely planning to do anyway: move your money, spend your money, grow your money.

Disclaimer: Terms and Conditions apply. Visit Wealthsimple via our Apply Now button for up-to-date terms and conditions.

Webull offers professional tools and no account minimums or maintenance fees. It charges $2.99 per trade for Canadian and USD stock purchases. The platform also offers a 90-day introductory offer, during which you can trade Canadian and US stocks commission-free.