Not sure if your current online broker is the right fit? Or are you new to self-directed investing and overwhelmed by the growing number of platforms? With more firms competing for attention, an expanding array of commission-free options and persistent marketing claims, choosing the right brokerage can be confusing. This 2026 update is designed to help you cut through the noise and identify the platform that best matches your investing goals, experience level and long-term needs.
For the 14th year, MoneySense partnered with Surviscor, a Canadian research and consulting firm that specialises in customer experiences for digital and direct financial services. The rankings that follow are based on Surviscor’s independent research and real-world testing.
We assessed providers across four core pillars of the investor experience:
- Desktop platform
- Mobile platform
- Commissions and fees
- Customer service
Our review measured performance through nearly 8,000 data points per firm and over 75 real-world investor tasks. The aim was to evaluate how firms perform in everyday investing situations—not just how they market themselves.
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MoneySense is an award-winning personal finance magazine that has been helping Canadians since 1999. Our editorial team of journalists works with independent experts to evaluate financial products. For this project we partnered with Surviscor to provide an objective, data-driven analysis of Canada’s online brokers. Learn more about our advertising and trusted partners.
Best online brokers 2026: The top 10 firms
These are the top 10 online brokers in Canada for 2026, ranked using Surviscor’s detailed scoring across desktop and mobile platforms, fees and customer service. Each firm was scored using a points system based on performance in real investor scenarios.
| 2026 ranking | Online broker | Points awarded | Rank in 2025 | Complete Surviscor analysis |
|---|---|---|---|---|
| 1 | TD Direct Investing | 71 | 2 | TD Direct Investing pros and cons |
| 2 | Questrade | 68 | 1 | Questrade pros and cons |
| 3 | Qtrade Direct Investing | 66 | 3 | Qtrade Direct Investing pros and cons |
| 4 | Scotia iTRADE | 56 | 5 | Scotia iTRADE pros and cons |
| 5 | BMO InvestorLine | 54 | 7 | BMO InvestorLine pros and cons |
| 6 | CIBC Investor’s Edge | 51 | 8 | CIBC Investor’s Edge pros and cons |
| 7 (tie) | Desjardins Online Brokerage | 37 | 4 | Desjardins Online Brokerage pros and cons |
| 7 (tie) | RBC Direct Investing | 37 | 6 | RBC Direct Investing pros and cons |
| 9 | National Bank Direct Brokerage | 29 | 9 | National Bank Direct Brokerage pros and cons |
| 10 | CI Direct Trading | 20 | 11 | CI Direct Trading pros and cons |
Notable firms outside the top 10 (at least 10 points)
- Wealthsimple Trade (12 pts)
- Webull Canada (10 pts)
Other firms evaluated by Surviscor
- Canaccord Genuity Direct
- Interactive Brokers
- moomoo Canada
- The 10 best online brokers in Canada
- Top 3 online brokers in Canada
- Best online broker for user experience
- Best online broker for account experience
- Best online broker for trading experience
- Best online broker for investor resources
- Best online broker for new investors
- Best online broker for seasoned investors
- Best $0 commission online broker
- Best commission online broker
- Best bank-owned online broker
- Best non-bank online broker
- The full online broker comparison tool
- Methodology
Tap (+) above to open the table of contents.
Online investing in Canada
Canadian investors now have more choice and better digital tools than ever. Over the past year the industry has evolved quickly: new entrants arrived, commission structures shifted, and many firms invested heavily in platform improvements and investor education. That competition benefits users—but it also means the “best” broker depends on your needs and experience.
This review focuses on the real customer experience. Low fees matter, but platform quality, investor resources, reliability and service responsiveness remain critical for long-term success. Many firms now offer commission-free trades, so buyers should evaluate the whole package: fees, tools, research, and how the platform supports learning and decision-making.
In 2026 the top three firms were separated by only a few points, showing how competitive the market has become. New global entrants like moomoo Canada and Webull Canada were added to this year’s review, giving investors more options. Specialty brokerages such as Interactive Brokers Canada and Canaccord Genuity Direct still meet the needs of specific investor types, underlining that the best choice depends on individual goals and trading style.
In short: choosing an online broker is about finding the right partner for your investing journey—not just the cheapest option.
Top 3 online brokers in Canada
Below is a closer look at the top three winners and why they placed where they did.
Gold: TD Direct Investing
TD Direct Investing reclaimed first place in 2026 with 71 points. The firm scored strongly across categories—especially Trading Experience, Investor Resources and support for new investors—thanks to robust desktop and mobile platforms, deep market intelligence and extensive educational content.
TD’s strength is its comprehensive support for investors at all stages. New users benefit from planning tools and education, while experienced traders have access to advanced research and market data. The trade-off is that TD’s standard commissions remain higher than many competitors, and TD EasyTrade’s commission-free offers are limited to a basic mobile-only app.
Pros:
- Strong integration between banking and investing.
- Extensive research, market intelligence and educational resources.
- Solid desktop and mobile platforms for a range of investors.
- Top-ranked trading tools and investor resources.
Cons:
- Higher trading commissions for many investors.
- Commission-free trades limited to a scaled-back mobile app.
- Some account tools and notifications lag top rivals.
Read the complete TD Direct Investing Surviscor review.
Silver: Questrade
Questrade placed second with 68 points. The platform combines true $0 commissions on stocks and ETFs with strong digital experiences, responsive service and competitive options pricing. Questrade leads in User Experience and Account Experience categories.
Some investors find multiple platform options confusing and may pay extra for advanced market data, but Questrade’s overall value and service responsiveness keep it among Canada’s top brokerages.
Pros:
- True $0 commissions for stocks and ETFs.
- Top user and account experiences.
- Strong platforms for both new and experienced investors.
- Competitive options pricing and responsive service.
Cons:
- Multiple platform offerings can be confusing.
- Enhanced market data may incur extra cost.
- Notification functionality is limited compared to some rivals.
Read the complete Surviscor review of Questrade.
Bronze: Qtrade Direct Investing
Qtrade Direct Investing finished third with 66 points. This year its move to commission-free stock and ETF trading removed a key competitive drawback and reinforced an already solid desktop experience, straightforward account setup and strong research tools.
Qtrade remains a reliable choice for investors who value a balanced, well-rounded platform, even though its mobile experience and speed of platform enhancements lag some competitors.
Pros:
- New $0 commissions on stocks and ETFs.
- Excellent desktop trading and account-opening experience.
- Robust market research and investment tools.
Cons:
- Mobile experience trails leading competitors.
- Platform updates arrive more slowly than at some firms.
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Best online brokers by category
Choosing the right broker depends on your priorities. To help you decide, we break awards into categories covering platform experience, investor type and firm type. These category results highlight brokerages that excel in specific areas—such as user experience, account management, trading tools and investor education—so you can match a platform to your needs.
Category highlights
- Best for user experience
- Best for account experience
- Best for trading experience
- Best for investor resources
Results by investor type
- Best for new investors
- Best for seasoned investors
Results by firm type
- Best $0 commission brokers
- Best commission-based brokers
- Best bank-owned brokers
- Best non-bank brokers
Best online brokers for user experience
User Experience assesses how intuitive and accessible a brokerage’s desktop and mobile platforms are—from researching and opening an account to finding key information and completing common tasks. In 2026:
Gold: Questrade
Questrade kept the top spot for usability thanks to a streamlined onboarding flow, customizable platforms and consistent design across desktop and mobile. Easy access to support and multiple service channels are additional strengths.
Silver: TD Direct Investing
TD Direct Investing earned Silver for offering a familiar, consistent experience that ties banking and investing together. Navigation and stability are strong, though customization is more limited than the category leader.
Best online brokers for account experience
Account Experience looks at how clearly firms present account information, portfolio details, transaction history and self-service controls.
Gold: Questrade
Questrade retained the top award by delivering clear account views, broad product support and effective self-service tools that let investors manage accounts with minimal support.
Silver: Scotia iTRADE
Scotia iTRADE earned Silver for a strong desktop account experience and straightforward presentation of portfolio and activity information, though its mobile experience still lags.
Return to categories list.
Best online brokers for trading experience
Trading Experience evaluates product availability, order-entry, market data and the tools investors use to research and execute trades.
Gold: TD Direct Investing
TD Direct Investing won for its deep market data, research tools and decision-support resources that help investors make informed trades.
Silver: Questrade
Questrade earned Silver for simplifying the trade process while offering broad product availability and reliable execution across desktop and mobile.
Return to categories list.
Best online brokers for investor resources experience
Investor Resources covers educational content, planning tools, market research and alerts that support learning and decision-making.
Gold: TD Direct Investing
TD leads this category with a broad range of research, planning tools and educational content suitable for beginners and experienced investors alike.
Silver: BMO InvestorLine
BMO InvestorLine moved into Silver after investing in educational initiatives and practical tools such as its Options Hub, which pairs learning with trading tools.
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Best online brokers for new investors
New investors need clear onboarding, good education, easy account setup and responsive support. For this category we assessed investors making zero to four trades per month.
Gold: TD Direct Investing
TD won Gold again for new investors by offering extensive educational content, planning tools and market insights that help beginners learn and grow.
Silver: Questrade
Questrade took Silver with its simple onboarding, commission-free trading and supportive platform that reduces common barriers for new investors.
Return to categories list.
Best online brokers for seasoned investors
Seasoned investors trade more frequently and value advanced tools, research and competitive pricing. For this group we looked at investors placing five to 33 trades per month.
Gold: Questrade
Questrade won for seasoned investors by combining wide product availability, strong trading tools and commission-free stock and ETF trading.
Silver: Qtrade Direct Investing
Qtrade moved into Silver after removing commissions on stocks and ETFs, while maintaining reliable research and a strong desktop experience preferred by active investors.
Return to categories list.
Best $0 commission online brokers
Commission-free trading is common now, so this category evaluates pricing alongside platforms, service and tools. The best $0 commission brokers pair low cost with strong functionality and solid support.
Gold: Questrade
Questrade remains the benchmark by combining true $0 commissions with strong platforms, responsive service and competitive options pricing.
Silver: Qtrade Direct Investing
Qtrade’s shift to commission-free trading strengthened a mature platform that now offers value without sacrificing functionality.
Return to categories list.
Best commission online brokers
Some investors still prefer commission-based brokers because they prioritise research, advanced tools and execution quality. This category measures value for active traders who pay per trade.
Gold: TD Direct Investing
TD won Gold among commission-based brokers thanks to its comprehensive research, trading tools and investor support that justify the commissions for many investors.
Silver: Scotia iTRADE
Scotia iTRADE took Silver with a dependable desktop platform and solid account management tools suited to investors who value a traditional brokerage environment.
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Best bank-owned online brokers
Bank-owned brokerages offer convenience for clients who prefer to keep banking and investing under one roof. Scores reflect platform quality, fees and service.
Gold: TD Direct Investing
TD leads among bank-owned brokers for its consistent performance across platforms, research and investor resources.
Silver: Scotia iTRADE
Scotia iTRADE earned Silver for its strong desktop platform and account management features backed by a large financial institution.
Return to categories list.
Best non-bank online brokers
Non-bank brokerages drive innovation and competition by offering alternative pricing and platform features. They continue to expand choice for Canadian investors.
Gold: Questrade
Questrade retained Gold among non-bank brokers by combining commission-free trading with strong digital experiences and responsive service.
Silver: Qtrade Direct Investing
Qtrade took Silver with dependable research tools and a platform that prioritises substance over style.
Return to categories list.
Comparing Canada’s best online brokerages
Use the comparison chart below to review commissions, account fees, trading features and service response times across Canada’s leading brokerages. Slide or scroll to view columns on mobile and desktop.
Best online brokers comparison chart for 2026
| Surviscor reviews | Wait time for a non-authenticated service enquiry | Standard stock trading commissions | ECN fee on top of the regular commission | Different commission fees for active investors (>150 trades per quarter) | Different commission fees for students/young adults | $0 commission ETFs and max no. of ETFs | Fractional share trading | Basic options trading commissions | Multi-leg options trade | Non-registered accounts annual fee | Registered accounts annual fee | Minimum account balance required for no annual fee | Inactivity fee | How to avoid inactivity fee |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BMO InvestorLine Review | 23 hours | $9.95 | ✘ | ✔ $3.95 | ✘ | ✔ 100 | ✘ | $9.95 + $1.25/contract | ✔ | ✔ $100 | ✔ $100 | Registered $25,000 / Non-registered $15,000 | ✔ $25/quarter | $15,000 in assets or 2 executed trades over 6 months |
| Canaccord Genuity Direct Review | 5 hours | $9.99 | ✔ | ✘ | ✘ | ✘ | ✘ | $1.00/contract (min. $10) | ✘ | ✘ | ✔ $125 | ✘ | ✔ $20/month | N/A |
| CIBC Investor’s Edge Review | 45 hours | $6.95 | ✘ | ✔ $4.95 | ✔ $0 for under 25 with banking | ✘ | ✘ | $6.95 + $1.25/contract | ✔ | ✔ $100 | ✔ $100 | $10,000 across all accounts | ✘ | N/A |
Notes
- Each firm received 137 to 139 service requests between May 2025 and April 2026.
- Non-responses were assigned a response time of 120 hours.
- Industry average response time was 34.08 hours over the same period.
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Online brokerage fast facts and FAQs
by MoneySense editors
Online brokers let self-directed investors buy and trade assets—stocks, bonds and exchange-traded funds (ETFs)—without an advisor. Because these platforms cut out the middleman, trading fees are typically lower than full-service brokerages. While the basic services are similar across brokers, platform features, fees and access to research vary.
Even with low or $0 commissions, brokers earn revenue through other channels: foreign exchange fees, interest on uninvested cash, premium market data, order-routing agreements and additional services. Review each broker’s fee schedule and disclosures to understand the full cost picture.
No-commission trading can be attractive, but it isn’t free in every respect. Firms may offset costs with foreign exchange markups, limited product access, delayed data or other fees. Check terms carefully—what’s included and what’s restricted—before choosing a commission-free platform.
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Methodology
The MoneySense Best Online Brokers rankings are based on independent research by Surviscor. Their evaluation included nearly 8,000 data points per firm across desktop and mobile platforms, pricing and service. Researchers completed 137–139 service interactions with each firm over a 12-month period ending April 30, 2026, and tested more than 75 investor tasks to measure real-world performance.
To better differentiate performance across a larger field, the scoring model expanded to a 10-point scale in 2026. Overall rankings use each firm’s results across eight applicable categories. Because the universe of firms and scoring changed this year, point totals should not be compared directly to prior years; ranking shifts are a better indicator of relative performance.
Independent research and resources
Surviscor has independently evaluated Canada’s online brokerages, digital banks and credit unions for more than two decades. Their company reviews focus on digital platforms, customer service, pricing and overall user experience to help Canadians make better-informed financial decisions.
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This article was created by a MoneySense content partner
based on expertise in this topic. This is not advertising nor an advertorial.
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