Products ETF Trading

Products

Trade ETFs Globally from a
Single Screen

The IBKR Advantage

Low commissions with IB SmartRouting^SM
Trade ETFs 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 February 10, 2025 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 Conversion^2,3 Advertised Rates

Broker 50 shares
CAD 2,000 100 shares
CAD 5,000 200 shares
CAD 10,000 US Stock
Commission FX Conversion
Fee^4,5

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 58.95⁸ USD 0.00 1.50%⁸

Questrade USD 23.58⁹ USD 58.95⁹ USD 117.90⁹ USD 0.00¹¹ 1.50%¹²

BMO Investorline USD 35.10¹⁰ USD 72.83¹⁰ USD 135.71¹⁰ USD 9.95 1.60%¹³

CIBC Investors's Edge

CI Direct Trading

Desjardins Online Brokerage

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

The comparison is based on our understanding of the other providers' published rates available on their websites as of February 10, 2025. 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]).
"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.
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).
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.
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.
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%
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
Wealthsimple FX Conversion fee is 1.5% for amounts between $0-$9,999.99 and 0.75% for amounts between $10,000-$24,999.99
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 58.95 = 0.00 + (CAD 10,000 x 0.7860 x 0.0075)
Questrade Total Trade Cost with Currency Conversion = 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)
BMO Investorline Total Trade Cost with Currency Conversion = Stock Commission + FX Conversion Fee.
USD 35.10 = 9.95 + (CAD 2000 x 0.7860 x 0.0160); USD 72.83 = 9.95 + (CAD 5000 x 0.7860 x 0.0160); USD 135.71 = 9.95 + (CAD 10,000 x 0.7860 x 0.0160)
Exchange and ECN fees may apply.
As published on https://www.questrade.com/pricing/self-directed-commissions-plans-fees#fees
For transaction size less than $25,000 CAD.
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.
Trades must have been made through National Bank Discount Brokerage's electronic solutions.
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.

Exchange-Traded Funds (ETFs) and Exchange-Traded Products (ETPs)

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.

See Our No Transaction Fee ETFs

Spot Bitcoin ETPs offer investors improved accessibility to bitcoin and allows exposure to the cryptocurrency without having to purchase the asset. Spot Bitcoin ETPs hold actual bitcoin rather than derivatives tied to the price of bitcoin, meaning the price of the Spot Bitcoin ETPs fluctuates with the price of bitcoin in cryptocurrency markets.¹

See Our Spot Bitcoin ETPs

Lower Costs to Maximize Returns¹

ETFs Commissions

View Commissions

Low Commissions

USD 0.0005 to USD 0.0035 per share

View Commissions

Lowest Financing Rates in the Industry²

View Margin Rates

4.83% - 5.83%

Interest Charged for Margin Loans

View Margin Rates

Earn interest at competitive rates³

Compare Interest Rates

Up to USD 3.83%

on instantly available cash

Compare Interest Rates

Trading Technology

Free Access to all IBKR's trading platforms
Free real-time streaming data on all US-listed stocks
IB SmartRouting^SM
IBKR APIs

Additional Plan Benefits

No minimums for general investment accounts
No inactivity fees
No added spreads, ticket charges or platform fees
No recurring fees

IB SmartRouting^SM helps support best execution by searching for the best available prices for stocks, options and combinations across exchanges and dark pools.

Learn about SmartRouting^SM

Professional Trading Platforms, Order Types, and Tools

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

See Our Trading Platforms

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

See Our Order Types, Algos and 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.

See Our Trading Tools

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.

See Our Fundamentals Explorer

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.

Learn About Sustainable Investing

Transparent Shortable Inventory and Pricing

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.

Learn About Short Securities Availability

Pick Your ETF	Pick Your $ Amount	Share Price¹	Number of Shares
SPGP	$25	$106.87	0.2339
VOT	$25	$282.34	0.0885
MUB	$25	$42.80	0.5841
AVUV	$25	$91.21	0.2741
	$100	ETF Portfolio

Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.
[1] Share prices as of June 27, 2025.

Fractional Shares Let You Invest Regardless of Share Price

Buy or sell any eligible US, Canadian or European stocks 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.

Learn About Fractional Trading

Earn Extra Income on Your
Fully Paid Shares

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.

Stock Yield Enhancement Program Overview

What Are ETFs?

Exchange-traded funds (ETFs) are investment funds that trade on stock exchanges like an individual stock. Each ETF typically holds a diversified portfolio of assets such as stocks, bonds, or commodities, and is designed to track the performance of a specific index, sector, or theme.

Why Invest in ETFs?

ETFs offer a cost-effective way to build a diversified portfolio.

Key benefits include:

Low Cost

ETFs will generally have lower fees than mutual funds.

Diversification

A single ETF can provide exposure to dozens or
hundreds of securities.

Liquidity

ETFs can be bought and sold throughout the trading
day at market prices.

Transparency

Most ETFs disclose holdings daily, so investors
know what they own.

However, ETFs (like all financial products) have risks such as:

Market Risk: Like stocks, ETFs can lose value due to changes in market conditions, interest rates, or economic factors.
Tracking Error: Some ETFs may not perfectly mirror the performance of their target index due to fees, trading costs, or replication methods.
Liquidity Risk: Not all ETFs are highly traded. Lower trading volume can lead to wider bid-ask spreads or price inefficiencies.
Product Complexity: Leveraged, inverse, or synthetic ETFs carry unique risks that may not suit all investors.
Currency & Regional Risks: International ETFs may be affected by currency fluctuations or geopolitical events.

How Do You Buy or Sell ETFs?

You can purchase and sell ETFs through an online brokerage account like those available at Interactive Brokers or through a financial advisor. If you use an online brokerage account, you can place buy or sell orders for ETFs through the broker’s platform after your account is approved and funded.

ETFs are bought and sold at a stock exchange, such as NYSE Arca, the NASDAQ, the London Stock Exchange (LSE), Euronext or the Hong Kong Stock Exchange (HKEX).

Interactive Brokers’ Education and Resources About ETFs

Traders’ Academy

Traders’ Academy by Interactive Brokers provides complimentary resources to educate you on ETFs, including the following courses

ETF Liquidity Considerations

ETF shares can trade in the secondary market at a premium or discount to their Net Asset Values, which can create a catalyst for creations or redemptions. However, the secondary market accounts for a limited portion of an ETF’s overall liquidity.

View Lesson

ETPs at a Glance

An exchange-traded product (ETP) is a financial instrument traded on a regulated stock exchange. It is designed to replicate the return of an underlying benchmark or asset before fees, with the easy access and tradability of a share. Exchange-traded products offer investors access to a whole universe of exposures, from traditional asset classes like equities and bonds to alternatives like commodities and currencies, once only accessible for institutional investors.