We've compared every major Canadian brokerage on signup bonuses, commissions, TFSA/RRSP/FHSA support, and beginner-friendliness — so you don't have to.
These two platforms offer the best referral deals for Canadians opening a new account in 2026.
Every major platform, side by side. Sorted by referral bonus size.
| Brokerage | Referral Bonus | Min. Deposit | Stock Commission | ETF Commission | TFSA | RRSP | FHSA | Our Referral |
|---|---|---|---|---|---|---|---|---|
|
Questrade
Best for active investors
|
$50 in trades | $1,000 | $4.95–$9.95 | Free to buy | ✓ | ✓ | ✓ | Get Code → |
|
Wealthsimple Trade
Best for beginners
|
$25 cash | $1 | $0 | $0 | ✓ | ✓ | ✓ | Get Code → |
|
National Bank Direct
$0 commissions, no bonus
|
None | $0 | $0 | $0 | ✓ | ✓ | ✓ | — |
|
CIBC Investor's Edge
Lowest Big 5 commissions
|
None | $10,000 | $6.95 | $6.95 | ✓ | ✓ | ✓ | — |
|
BMO InvestorLine
Big 5 bank brokerage
|
None | $5,000 | $9.95 | $9.95 | ✓ | ✓ | ✓ | — |
|
TD Direct Investing
Largest bank brokerage in CA
|
None | $15,000 | $9.99 | $9.99 | ✓ | ✓ | ✓ | — |
|
RBC Direct Investing
Full service bank brokerage
|
None | $15,000 | $9.95 | $9.95 | ✓ | ✓ | ✓ | — |
|
Scotia iTRADE
Scotiabank's platform
|
None | $0 | $4.99–$24.99 | $4.99–$24.99 | ✓ | ✓ | — | — |
Data accurate as of March 2026. Commission rates and account minimums subject to change. Always verify on each brokerage's official website.
The best brokerage depends on where you are in your investing journey.
These are Canada's two best independent online brokerages. Both are excellent — but they're built for very different investors. Here's the honest breakdown.
| Feature | Wealthsimple | Questrade |
|---|---|---|
| Stock commissions | $0 | $4.95–$9.95/trade |
| ETF purchases | $0 | $0 (free to buy) |
| ETF sales | $0 | $4.95–$9.95 |
| Minimum deposit | $0 | $1,000 |
| USD/CAD conversion | 1.5% (0% Premium) | ~0.1% via Norbert's Gambit |
| Signup bonus | $25 cash (code NLX83A) | $50 in free trades |
| Mobile app quality | Best in Canada ⭐ | Good, functional |
| Advanced trading tools | Basic | Advanced (Questrade Edge) |
| Corporate accounts | ✗ No | ✓ Yes |
| Free tax filing | ✓ Wealthsimple Tax | ✗ No |
Choose Wealthsimple if: you're just starting out, you want a TFSA or RRSP with zero friction, you value a great mobile app, or you're a buy-and-hold ETF investor. The $0 commissions on everything and zero minimum make it the easiest entry point.
Choose Questrade if: you actively trade US stocks and want to minimize FX costs, you want advanced charting and research tools, you need a corporate account, or you have $25K+ and want professional-grade infrastructure. Many experienced Canadians use both — Wealthsimple for their TFSA/RRSP and Questrade for active trading.
Not sure which account to open? Our guides explain how each one works, who it's for, and how to get started — with a referral bonus attached.
Both platforms have live referral codes available right now. Pick the one that fits your situation — or grab both if you plan to use each.