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Trade Stocks and ETFs Globally from a Single Account

The IBKR Advantage

  • Low commissions with IB SmartRoutingSM
  • Trade stocks globally on 90+ market centers
  • Lowest financing rates in the industry
  • Professional trading platforms, order types, and tools
  • Transparent shortable inventory and pricing
  • Fractional Shares let you invest regardless of share price
  • "Fee waived" no transaction fee (NTF) program for ETFs
  • Earn extra income on your fully paid shares

Zero Commission Isn't the Same as Free

Interactive Brokers clients receive significant savings vs. other brokers

Comparison of US Stock Trading Costs for Canadian Residents

The comparison to other providers is based on the rates published on their websites as of December 20, 2023 for deals in US stocks. Deals in U.S. listed ETFs and U.S. dollar-traded Canadian ETFs not considered. Providers' account types used for this illustration are what we consider default standard tier. 1

See Notes and Disclaimers for complete information.

  Total Trade Cost with Currency Conversion2,3 Advertised Rates
Broker 50 shares
CAD 2,000
100 shares
CAD 5,000
200 shares
CAD 10,000
US Stock
Commission
FX Conversion
Fee4,5
Interactive Brokers USD 2.527 USD 2.707 USD 3.407 USD 0.00356 USD 2.006
WealthSimple USD 23.588 USD 58.958 USD 117.908 USD 0.00 1.50%
Questrade USD 26.649 USD 59.189 USD 113.429 USD 4.9511 1.38%12
BMO Investorline USD 37.4610 USD 78.7310 USD 147.5010 USD 9.95 1.75%13
CIBC Investors's Edge
CI Direct Trading
Desjardins Online Brokerage
HSBC InvestDirect
National Bank Direct Brokerage
Qtrade Investor
RBC Direct Investing
Scotia iTrade
TD Direct Investing
Cannot be determined because we have not been able to locate the foreign exchange conversion fee on the pricing pages of the public website of these providers.
USD 6.95 Not Published16
USD 1.99 Not Published16
USD 0.0014 Not Published16

USD 6.88 Not Published16
USD 0.0015 Not Published16

USD 8.75 Not Published16
USD 9.95 Not Published16
USD 9.99 Not Published16
USD 9.99 Not Published16

  1. The comparison is based on our understanding of the other providers’ published rates available on their websites as of December 20, 2023. The comparison is also based on the quantity of shares comprising the trade sizes in the three scenarios displayed above. WARNING - The comparison of brokerage fees that are set under different pricing models may vary based on the quantity of shares comprising the trade and in some cases, a fixed or “per-trade” fee pricing model (as used by other providers) can, in fact, be more competitive that Interactive Brokers’ variable or “per-share” pricing model which is more competitive when the trade size is comprised of a smaller quantity of shares. For example, our commission on a trade size of USD 20 000 will be USD 1.75, when the trade is for 500 shares at USD 40 but will be USD 17.50 when the trade is for 5000 shares at USD 4.00 ([0.0035 x 500 shares = USD 1.75] and [0.0035 x 5000 shares = USD 17.50]).
  2. "Total Trade Cost with Currency Conversion" considers stock execution commission (when applicable) and fx conversion fee charged by the providers. In case of IBKR, we have additionally included regulatory, clearing and exchange fees that are passed through to the client on a transactional basis.
  3. Assuming account initially funded with, and holding, Canadian currency (CAD). This table shows three different trade sizes using different quantity of shares traded on a U.S. market. For comparison purposes, "Total Trade Cost with Currency Conversion" is indicated in USD. The USD/CAD FX exchange rate used in the comparison table is 1.2722, which conversely represents a rate of 0.7860 CAD/USD (used for calculation purposes).
  4. This conversion fee is the revenue earned by the broker on each currency conversion transaction. It is an additional fee to the commission or other fees applicable to the stock transaction. For the purpose of this presentation the foreign exchange conversion fee is expressed as a percentage of the total value of the currency being converted. For the other providers in this table, this fee is typically included in the total foreign exchange rate applied to the conversion without charging a separate transaction-based “commission”. Although the total foreign exchange rate applied to the conversion is usually disclosed to clients at the time of the currency conversion transaction, the conversion fee applied to the conversion is rarely disclosed separately to the client. In the interest of providing a transparent pricing structure, IBKR does not mark up its FX quotes and therefore does not include a conversion fee in the total foreign exchange rate applied to the conversion. Instead IBKR passes through the prices that it receives from the global interbank market and charges a separate FX “commission” which is clearly disclosed to clients at the time of the currency conversion.
  5. Some firms may not allow you to hold U.S. dollars in your brokerage account and will subject you to forced currency conversion fees on each transaction.
  6. IBKR tiered stock commissions of USD 0.0035 per share (minimum of USD 0.35). Other providers' stock commissions are usually set at a dollar amount per trade basis. IBKR’s FX “commission” of USD 2.00 per order (0.20 basis point x trade value, with a minimum of USD 2.00 per order). Note- One basis point = 1/100 of 1%, so 0.20 basis point = 0.002%
  7. IBKR Total Trade Cost with Currency Conversion = IBKR Tiered Stock Commissions + Exchange, Regulatory, Clearing Fees + FX "Commission".
    USD 2.52 = 0.35 + 0.17 + 2.00; USD 2.70 = 0.35 + 0.35 + 2.00; USD 3.40 = 0.70 + 0.70 + 2.00
  8. Wealthsimple Total Trade Cost with Currency Conversion = Zero Stock Commission + FX Conversion Fee.
    USD 23.58 = 0.00 + (CAD 2000 x 0.7860 x 0.0150); USD 58.95 = 0.00 + (CAD 5000 x 0.7860 x 0.0150); USD 117.90 = 0.00 + (CAD 10,000 x 0.7860 x 0.0150)
  9. Questrade Total Trade Cost with Currency Conversion = Stock Commission + FX Conversion Fee.
    USD 26.64 = 4.95 + (CAD 2000 x 0.7860 x 0.0138); USD 59.18 = 4.95 + (CAD 5000 x 0.7860 x 0.0138); USD 113.42 = 4.95 + (CAD 10,000 x 0.7860 x 0.0138)
  10. BMO Investorline Total Trade Cost with Currency Conversion = Stock Commission + FX Conversion Fee.
    USD 37.46 = 9.95 + (CAD 2000 x 0.7860 x 0.0175); USD 78.73 = 9.95 + (CAD 5000 x 0.7860 x 0.0175); USD 147.50 = 9.95 + (CAD 10,000 x 0.7860 x 0.0175)
  11. Exchange and ECN fees may apply.
  12. This broker’s publishes its foreign exchange conversion fee on its website in terms of basis points (175 basis points) as opposed to a fixed percentage. To ensure consistency of comparison across providers, and based on our initial assumption that the USD/CAD exchange rate is 1.2722 for purposes of this presentation (as indicated in disclaimer # [3]), we derived a conversion fee expressed in percentage terms of 1.38% [0.0175/1.2722].
  13. For transaction size less than $25,000 CAD.
  14. The Securities and Exchange Commission (SEC) charges a fee for every executed sell order on any American exchange. Desjardins Online Brokerage reserves the right to limit the number of intra-session trades on the same security.
  15. Trades must have been made through National Bank Discount Brokerage's electronic solutions.
  16. We have not been able to locate on the pricing pages of the public website of these providers the foreign exchange conversion fee component of the foreign exchange conversion rate applied to a specific currency conversion transaction.

When you invest, your capital is at risk. The value of your portfolio can go down as well as up, and you may get back less than you invest.

Low Commissions with IB SmartRoutingSM

Commissions range from USD 0.0005 to USD 0.0035 per share on stocks and ETFs, and include the IB SmartRoutingSM system. IB SmartRoutingSM helps support best execution by searching for the best available prices for stocks, options and combinations across exchanges and dark pools. Also, it continuously evaluates changing market conditions and dynamically re-routes all or parts of your order.

Access to Global Markets

Trade stocks globally on
90+ market centers.

View Market Centers

Trade popular US Stocks and ETFs
around the clock,
five days per week.

Overnight ETF Trading

Lowest Financing Rates in the Industry

IBKR charges margin loan rates1 from USD 5.83% to USD 6.83% *

We offer the lowest margin loan interest rates of any broker, according to the StockBrokers.com 2022 online broker review.

Click below to calculate your own sample margin loan interest rate.

*Restrictions Apply

Professional Trading Platforms, Order Types, and Tools

Professional Trading Platforms, Order Types, and Tools

Stocks ETFs trading platform

Trading Platforms

Powerful, award-winning trading platforms and tools for managing your portfolio.* Available on desktop, mobile, and web.

* For more info see our awards page.

Order Types and Algos

100+ order types – from limit orders to complex algorithmic trading – help you execute any trading strategy.

Trading Tools

Use a full suite of professional trading tools to help make better decisions and manage your portfolio. Spot market opportunities with Advanced Market Scanners and analyze your portfolio with Risk Navigator.

Fundamentals Explorer

Fundamentals Explorer provides comprehensive, worldwide fundamentals data on over 30k companies, shows more than 300 data points per company, has more than 80 sources for newswires and reports and features 5.5k+ analyst ratings from TipRanks.

Sustainable Investing

Align your investments with what you care about most. Use the Impact Dashboard to identify and invest in companies that share your values, and use ESG scores from Refinitiv to make investment decisions based on more than just financial factors.

Short stock search results Short stock search results

Transparent Shortable Inventory and Pricing

Short Securities Availability

The Shortable Instruments (SLB) Search tool is a fully electronic, self service utility that lets you search for availability of shortable securities from within Client Portal.

Short stock search results Short stock search results
Pick Your
Stock
Pick Your
$ Amount
Share Price1 Number of Shares
NFLX $25 $344.76 0.0725
TSLA $25 $172.08 0.1453
GOOG $25 $116.90 0.2139
AMZN $25 $112.18 0.2229
$100 Stock Portfolio

Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.
[1] Share prices as of June 16, 2023.

Fractional Shares Let You Invest Regardless of Share Price

Fractional Trading

Buy or sell any eligible US or European stocks/ETFs using fractional shares, which are stock units that amount to less than one full share, by placing an order for a specific purchase price rather than quantity of shares.

Exchange-traded Funds (ETFs)

No Transaction Fee ETFs

Interactive Brokers’ "fee waived" no transaction fee (NTF) program offers over 90 exchange-traded funds (ETFs) that reimburse clients for commissions paid on ETF shares held for at least 30 days.

Spot Bitcoin ETFs

Spot Bitcoin ETFs offer investors improved accessibility to bitcoin and allows exposure to the cryptocurrency without having to purchase the asset. Spot Bitcoin ETFs hold actual bitcoin rather than derivatives tied to the price of bitcoin, meaning the price of the Spot Bitcoin ETF fluctuates with the price of bitcoin in cryptocurrency markets.

Stock Yield Enhancement Program

Earn Extra Income on Your
Fully Paid Shares

Stock Yield Enhancement Program

Earn extra income on your fully paid shares. IBKR borrows your shares to lend to traders who want to short and are willing to pay interest to borrow the shares. You are paid interest each day shares are on loan and retain the ability to trade your loaned stock without restrictions.

Smart Investors Never Stop Learning

Level up your market knowledge and learn about investing with over 65 free online courses on Trading, Stocks, Options, Futures, Technical Analysis and much more.

Visit Traders' Academy
Stock and ETF trading at IBKR

Start trading like a professional today!

For more information on accolades received, visit our awards page.

Disclosures

  1. According to StockBrokers.com Online Broker Survey 2023: Read the full article Online Broker Reviews, May 18, 2023. "Professionals can take advantage of industry-leading commissions, including the lowest margin rates across all balance tiers."

Interactive Brokers Canada Inc. is a member of the Canadian Investment Regulatory Organization (CIRO) and Member - Canadian Investor Protection Fund. Know Your Advisor: View the CIRO AdvisorReport. Trading of securities and derivatives may involve a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts. Using borrowed money to finance the purchase of securities involves greater risk than using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines. Interactive Brokers Canada Inc. is an order execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives. Our registered office is located at 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada.


Know Your Advisor: View the CIRO AdvisorReport