What are the best discount brokerages in Canada?

With that being said, we have 4 ranking pillars that we use to determine the quality of each of Canada’s discount brokerages: After all of that anecdotal and quantitative research, we think that Qtrade is likely to be the best online broker in Canada, at least for most people in 2023.

What is a discount broker?

However, the Internet has brought an explosion of discount online brokers that allow individuals with smaller capital to trade for lower fees and with less capital. In terms of the stock market, most discount brokers operate through online platforms. As a result, a discount broker is nearly synonymous with online brokerages.

What is an online broker?

An online broker lets you buy and sell stocks, ETFs, and mutual funds online within your trading account. They’re often called “online brokerage” or “discount brokerage” because this trading method is more cost-effective than a traditional brokerage.

Is there a free online broker in Canada?

There is no free online broker in Canada. You are either paying account fees, trading fees, or the brokerage is selling your information to other companies in exchange for a $0 upfront fee. The closest ones to being free are NBDB and Wealthsimple Trade. How Do I Open a Broker Account in Canada?