Investing accounts · Canada

Three good places to open a TFSA, RRSP or FHSA.

Fees, account types and current offers at Qtrade, Wealthsimple and CIBC Investor's Edge, side by side.

$0-commission options
TFSA, RRSP and FHSA at all three
Current new-client offers

Updated November 2026 · Facts from each company's own site

Qt1

Best overall

Qtrade Direct Investing

$0stock & ETF trades

$0 commissions on stocks, ETFs and mutual funds, no quarterly admin fee, and a cash-back offer for new clients right now.

$0 online trades on stocks, ETFs and mutual funds; options $0.75 a contract
TFSA, FHSA, RRSP, RRIF, RESP, LIRA, cash and margin, in CAD and USD
New clients: cash back on new deposits with code OFFER2026, apply by January 5, 2027
Ranked #1 for platform by The Globe and Mail in 2026

The offer has a funding deadline and a holding period; read Qtrade's terms before you move money.

See Qtrade's offer

Continues on qtrade.ca

Ws2

Easiest to start

Wealthsimple

$1to open an account

$0 commissions, a $1 minimum, and the choice of picking your own investments or having a managed portfolio do it for you.

$0 commissions on stocks and ETFs; 1.5% to convert currency for US trades
Managed portfolios from 0.5% a year (lower on larger balances)
TFSA, FHSA, RRSP, RESP, RRIF, LIRA and non-registered
Moving $25,000 or more: a 1% match (up to $20,000, paid over 24 months)

Open Wealthsimple

Continues on wealthsimple.com

IE3

Best if you bank with CIBC

CIBC Investor's Edge

$6.95a trade ($0 if 18–24)

A big-bank brokerage with low flat commissions, and free trades for 18–24 year olds who bank with CIBC.

$6.95 per online stock or ETF trade; 200+ ETFs commission-free
Ages 18–24 with a CIBC Smart Start account: $0 trades and no annual fee
$100 a year if your balance is $10,000 or less (waived your first year, and on FHSAs)
New: commission-free fractional shares (see CIBC's offer terms)

See Investor's Edge

Continues on cibc.com

At a glance

	Qtrade Direct Investing	Wealthsimple	CIBC Investor's Edge
Stock & ETF trades	$0	$0	$6.95 ($0 ages 18–24*)
Account fee	None	None	$100/yr under $10K**
Managed portfolios	No	Yes, from 0.5%	No
New-client offer	Cash back, code OFFER2026	1% transfer match ($25K+)	Fractional shares offer
CIPF protected	Yes	Yes	Yes

* With a CIBC Smart Start account. ** Waived your first year and on FHSAs. Offers have terms and end dates; check each site.

How to choose

If you buy ETFs and hold them, trading fees barely matter anymore: Qtrade and Wealthsimple both charge $0. Look at the account fees, currency conversion if you buy US stocks, and whether there's an offer worth taking.

Moving an existing account? Both Qtrade and Wealthsimple reward transfers for new clients, and a transfer between institutions keeps a TFSA or RRSP registered. Ask the new firm to pull it; don't withdraw it yourself.

Questions

Is my money protected?

All three are members of CIPF, which protects eligible accounts if the firm itself fails (not against market losses).

Can I have more than one?

Yes. Your TFSA and RRSP limits are yours in total, not per account, so split them as you like.

What does it cost to switch?

Many firms charge to transfer out. Wealthsimple covers up to $150 of transfer-out fees per account on qualifying transfers.

Top pickQtrade Direct InvestingSee Qtrade's offer →