Low costs are one of the top reasons for using an online broker. Here, we compare stock-trading commissions and foreign-exchange costs for buying a U.S. stock.
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Commissions and Fees: Part One
Each of the 12 brokers in this ranking was asked to show its stock trading commissions for a variety of trades. Here are two examples showing how how costs compare for customers paying regular commission rates.
| Broker |
Trade #1: 200 shares of a $30 stock |
Trade #2: 1,500 shares of a $20 stock |
| Qtrade Investor | $19* | $37.50 |
| Credential Direct | $19 | $30 |
| BMO InvestorLine | $29 | $45 |
| Scotia iTrade | $19.99 | $30 |
| RBC Direct Investing | $28.95 | $45 |
| TD Waterhouse | $29 | $45 |
| Disnat (Classic) | $29 | $45 |
| National Bank Direct Brokerage | $28.95 | $45 |
| CIBC Investor's Edge | $28.95 | $45 |
| Questrade | $4.95 | $9.95 |
| ScotiaMcLeod Direct Investing | $28.95 | $45 |
| HSBC InvestDirect | $29 | $45 |
| *add $4 for non-market orders |
Commissions and Fees: Part Two
To get a sense of how foreign exchange charges vary, brokers were asked to provide the pre-commission cost of buying 100 shares of Microsoft at $16 (U.S.) on the morning of Sept. 25.
| Broker | Cost |
| Qtrade Investor | $1,758.88 |
| Credential Direct | $1,724 |
| BMO InvestorLine | $1,747.20 |
| Scotia iTrade | $1,769.44 |
| RBC Direct Investing | $1,772.16 |
| TD Waterhouse | $1,770.40 |
| Disnat (Classic) | $1,783.52 |
| National Bank Direct Brokerage | $1,776 |
| CIBC Investor's Edge | $1,750.24* |
| Questrade | $1,766.88 non-reg |
| $1,754.88 RRSP | |
| ScotiaMcLeod Direct Investing | $1,759.20 |
| HSBC InvestDirect | $1,660.80 |
| *"best rate" |
