Independent online brokers
Online brokers give individuals the freedom and control to make their own investment decisions without a financial advisor. They offer everything from basic stock, ETF and mutual fund investing through to more advanced trading facilities.
If you watch the Super Bowl or spend any time in the US you will probably have heard of some of the largest American brokers, including E*Trade, TD Ameritrade and Fidelity. These independent online brokers are well established and are the first choice for most US investors. However, these US brokers are not, for the most part, open to Canadians (E*Trade sold its Canadian division in 2008).
Source: The Globe and Mail's annual online broker ranking published 2010 to 2018.
Why choose Qtrade
$8.75 stock trades & low fees
Broker Breakdown
Globe and Mail personal finance columnist Rob Carrick has been comparing Canada's online brokers for the past decade. Qtrade Investor has been consistently in first or second place.
Hardly a detail out of place"
That's just one among a long list of accolades that Qtrade has earned in recent years.
Award winning online trading
Extensive tools & research
Wide range of investment options
Customer support you can rely on
Mobile trading
| Broker / Year | 2018 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
| Qtrade Investor | A | A | A- | A | B+ | 2 | 1 | 1 |
| BMO | B | B | B | B+ | B | 3 | 3 | 3 |
| CIBC | C | C+ | C- | C | C | 10 | 8 | 8 |
| Disnat | C | B- | C- | C- | C | 9 | 9 | 9 |
| HSBC | C | D | D | F | D | 11 | 12 | 12 |
| National Bank | C+ | C+ | C | B- | C | 12 | 11 | 10 |
| Questrade | B+ | B+ | A- | B+ | B | 8 | 10 | 7 |
| RBC | B | B | B- | B | B | 5 | 5 | 2 |
| Scotia iTrade | B+ | B | B | B | B | 4 | 4 | 6 |
| TD | B | B+ | B+ | B | C | 6 | 7 | 4 |
| Virtual Broker | B | A | A | A- | A | 1 | 2 | 13 |
Key points of comparison
To help you decide which broker delivers the best value for your investing needs, here are six important factors to consider.
Low commissions and fees reduce the cost of trading and help you keep more of your money invested. Over the last few years, competition between brokers has made online trading more affordable than ever. Watch out for brokers that charge ECN fees for Canadian stock trades.
Cost per trade
Ease of use
Not every broker puts the same effort into designing intuitive, easy-to-use features for both experts and beginners. It should be quick and easy to manage your investments on desktop and mobile devices. Ease-of-use is not something you can compare at a glance. However, some brokers offer a trial account that lets you get a feel for the features and functionality.
Are calls answered in seconds, or minutes? Are emails answered in hours, or days? Can you speak to a knowledgeable representative right away? Are issues resolved correctly the first time? You should have fast, reliable and friendly service. Unfortunately, not all brokers provide it.
Customer service
You need a variety of tools and resources to help you make well-informed decisions. Your broker should offer sophisticated tools and in-depth research to help you plan and set goals, find and evaluate investing ideas, trade, and review your portfolio. A full range of tools includes screeners, watchlists, notifications, and real-time quotes.
Tools and research
This one is obvious, but deserves a special mention: as you manage your investments, you want rich data and complete insight into your accounts and holdings. Make sure your broker provides detailed account summaries and performance reports, and allows you to switch easily among multiple account views, so you can see if you're on track to meet your investment goals.
Account Information
Innovation
Online services evolve rapidly, and the investment industry is dynamic too. Your online broker should be committed to continuous improvement, so you always know you're getting the best new features to help you achieve your investing goals.
Qtrade Investor,800 – 1111 West Georgia Street, Vancouver, BC V6E 4T6
Qtrade Investor is a division of Credential Qtrade Securities Inc., a wholly owned subsidiary of Aviso Wealth.
Member - Canadian Investor Protection Fund | Privacy Policy | Terms of Use | Security
— sums up Carrick's assessment of Qtrade's client experience
Keep up the excellent work!
— Dave, Welland ON
Qtrade Investor
In Canada, the majority of investors have settled for the brokerage subsidiaries of major banks however there are also a number of independent brokers to choose from.
Love the outstanding level of customer service. I recommend your service whenever I can.
Transfer in an account of $15,000 or more and we'll reimburse your transfer fees up to $150.
The annual ranking used numbers until 2012 and letter grades from 2013-2018.