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Beginner guide
Broker fees compared: Wealthsimple, Questrade, IBKR, moomoo
Most Canadian online brokers now advertise $0 commissions, so the costs that separate them are elsewhere: converting Canadian dollars to US dollars, holding US dollars in a TFSA or RRSP, and the fees on less common transactions. This page compares four popular choices on the costs that actually add up.
Fees were checked in September and October 2026 from each broker's published pricing and independent comparisons. Brokers change pricing often, so confirm on their own pages before opening an account. StockSignalCheck doesn't recommend any particular broker. If we ever earn a referral fee from a broker, we'll say so clearly on the page.
Side by side
| Wealthsimple | Questrade | Interactive Brokers | moomoo | |
| Canadian stocks & ETFs | $0 | $0 | 1¢ a share, $1 minimum | About 1.5¢ a share, $1.49 minimum |
| US stocks & ETFs | $0 | $0 | US 0.5¢ a share, US$1 minimum | About US 1¢ a share, US$1.99 minimum |
| Currency conversion | About 1.5% (lower on higher tiers) | About 1.5% | About 0.002%, US$2 minimum | Advertised as $0; check the rate you get |
| USD in TFSA/RRSP | Yes, $10/month under $100,000 | Yes, no charge | Yes | Yes |
| Norbert's Gambit | Not usually possible | Supported | Rarely needed | Check first |
| Fractional shares | Canadian and US | US only | Check | Check |
| TFSA / RRSP / FHSA | Yes / Yes / Yes | Yes / Yes / Yes | Yes / Yes / check | Yes / Yes / not listed |
| Account or inactivity fees | None | None ($150 to close an account) | None | None |
Sources: broker pricing pages and comparisons published by StockBrokers.com (July 2026) and WealthNorth (September 2026). "Check" means we couldn't confirm it from the broker's published information.
Worked example 1: converting $10,000 to US dollars
- Wealthsimple or Questrade at about 1.5%: roughly $150.
- Questrade with Norbert's Gambit: usually well under $30 in fees and spread, but it takes a few days and a few steps.
- Interactive Brokers: a few dollars.
- moomoo: no stated fee, but compare the exchange rate you're offered with the market rate, since a spread can be built in.
If you'll buy US stocks regularly, currency costs will likely outweigh every other fee on this page. Canadian-listed ETFs like VFV, XUS or ZSP avoid conversion completely.
Worked example 2: investing $500 a month in an ETF
- Wealthsimple and Questrade: $0 per purchase.
- Interactive Brokers: about $1 per purchase, or roughly $12 a year.
- moomoo: about $1.49–$1.99 per purchase, or roughly $18–24 a year.
For small, regular purchases, $0-commission brokers have a clear edge. For larger, less frequent trades, especially in US dollars, low conversion costs can matter more.
Who each one tends to suit
- Wealthsimple: beginners who want the simplest app, fractional shares in Canadian and US stocks, and mostly Canadian-listed ETFs.
- Questrade: investors who want free USD accounts in their TFSA and RRSP and the option of Norbert's Gambit, plus a wide range of account types.
- Interactive Brokers: experienced investors who convert currency often, trade US or international markets, or have larger accounts.
- moomoo: active traders who want detailed charts and market data and are comfortable with per-share pricing.
Before you open an account
- Check the firm is a member of CIRO and that accounts are covered by CIPF. See how to choose a broker.
- Moving from another broker? Use a direct transfer, not a withdrawal, especially for a TFSA or RRSP. Many brokers will cover the transfer-out fee above a minimum balance.
- Look past sign-up bonuses. Ongoing currency and account costs usually matter more.
Official pricing pages
Keep learning
This guide is for education only. It isn't personalized financial, investment or tax advice, and nothing here is a recommendation to buy or sell any security. Investing involves risk, including the possible loss of your money.