Choosing the right brokerage is one of the most important decisions a Canadian investor can make — especially if you’re just starting out. Fees, account types, research tools, and ease of use all play a huge role in how confident (and consistent) you’ll be with your investing.
This 2026 guide breaks down the best brokerages in Canada based on real investor needs: beginners, dividend investors, active traders, and anyone looking for a simple, low‑fee platform.
1. Questrade — Best Overall for Most Canadians
Questrade remains one of the strongest all‑around choices for Canadian investors. It offers low fees, excellent research tools, and full access to TFSA, RRSP, and non‑registered accounts.
Why Questrade stands out
- Low trading fees
- Free ETF purchases
- Strong research tools
- Great for long‑term dividend investors
- Easy account opening
Best for
Beginners, dividend investors, and anyone who wants a reliable, low‑cost brokerage.
2. Wealthsimple Trade — Best for Beginners
Wealthsimple Trade is the easiest platform for new investors. The app is simple, clean, and designed for people who want to start investing without feeling overwhelmed.
Why Wealthsimple stands out
- Zero‑commission stock and ETF trades
- Very beginner‑friendly
- Instant deposits
- No account minimums
Best for
New investors who want a simple, mobile‑first experience.
3. Interactive Brokers — Best for Active Traders
If you trade frequently or want access to global markets, Interactive Brokers (IBKR) is unmatched. It’s powerful, fast, and extremely cost‑efficient for high‑volume traders.
Why IBKR stands out
- Ultra‑low trading fees
- Access to global markets
- Advanced trading tools
- Excellent for options and forex
Best for
Active traders, advanced investors, and anyone who wants global diversification.
4. National Bank Direct Brokerage — Best Zero‑Commission Option
National Bank shook up the industry by offering zero‑commission trades on stocks and ETFs — with no gimmicks. It’s a strong choice for cost‑conscious investors.
Why NBDB stands out
- $0 commissions on stocks and ETFs
- Full TFSA/RRSP support
- Backed by a major Canadian bank
- Great for long‑term investors
Best for
Investors who want bank‑level security with zero commissions.
5. TD Direct Investing — Best for Investors Who Want a Big Bank
If you prefer keeping everything under one roof, TD Direct Investing is the most robust of the big‑bank brokerages. It’s not the cheapest, but it’s reliable and feature‑rich.
Why TD Direct stands out
- Strong research tools
- Excellent customer support
- Easy transfers between TD accounts
- Good for long‑term investors
Best for
Investors who want convenience and trust a major bank.
Which Brokerage Should You Choose?
Here’s a quick breakdown:
- Dividend investor: Questrade
- Active trader: Interactive Brokers
- Zero‑commission seeker: National Bank Direct Brokerage
- Big‑bank customer: TD Direct Investing
What About TD Ameritrade?
TD Ameritrade no longer exists as a standalone brokerage.
It was fully absorbed into Charles Schwab, and Canadians cannot open new TD Ameritrade accounts.
If you want the full breakdown, read:
👉 TD Ameritrade Canada (2026 Update): What Investors Need to Know
Final Thoughts
The best brokerage is the one that fits your investing style — not the one with the most features. Whether you’re building a dividend portfolio, starting your first TFSA, or trading actively, Canada has excellent options in 2026.
If you’re new to investing and want a simple roadmap, start here:
👉 How to Begin Dividend Investing in Canada