Best Overall Investment Accounts for Canadians
Wealthsimple TFSA
Wealthsimple TFSA stands out as the best registered high-yield savings account in Canada for its tax-free growth potential, high interest on idle cash, and seamless integration with automated investing—all with no monthly fees or minimum balance requirements. It’s ideal for Canadians who want their savings to grow faster while remaining accessible and fully protected within a TFSA structure.
Rating: ★★★★★ (4.8/5)
Monthly Fee: $0
Interest Rate:
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Base rate: ~4.00–4.50% on cash (varies slightly by market conditions)
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Tax-free status: All interest earned is completely tax-free
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No minimum balance required: Start with as little as $1
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Automated features: Auto-deposit and smart rebalancing available
Best For: Canadians looking for a hands-off, tax-free way to grow short- and long-term savings with better-than-bank interest rates
Best Overall Investment Accounts for Canadians
Best for: RBC Investors
RBC Direct Investing
4.8/5
Bonus Offer
None
Monthly Fee
$0 - $25
Min. Deposit
$0
Commissions
$9.95 per trade
Why it's great:
Fully integrated with your RBC banking accounts
Broad access to Canadian and U.S. stocks, ETFs, and mutual funds
Trusted platform from a Big Five Canadian bank
Key Details:
Commissions: $9.95 per trade
Minimum Deposit: $0 (but $15,000 to avoid maintenance fee)
Monthly Fees: $25 quarterly if balance under $15,000
Bonus Offer: Occasionally includes cash or commission-free trades for new clients
Best For: RBC clients seeking full-service DIY investing
Best for: Active Traders
Interactive Brokers Canada
5.0/5
Bonus Offer
Low margin rates
Monthly Fee
$0 - $10
Min. Deposit
$0
Commissions
$0.01 per share
Why it's great:
Ultra-low trading fees and advanced trading tools
Access to 150+ global markets
Ideal for active and international investors
Key Details:
Commissions: As low as $0.01 per share (Tiered or Fixed pricing)
Minimum Deposit: $0 (was $10,000 before 2019)
Monthly Fees: $0 with IBKR Lite (or activity-based on IBKR Pro)
Bonus Offer: Rare; IB focuses on low-cost structure
Best For: Active and global traders
Best for: TD Investors
TD Direct Investing
4.8/5
Bonus Offer
None
Monthly Fee
$0 - $25
Min. Deposit
$0
Commissions
$9.99 per trade
Why it's great:
Access to TD research and analyst insights
Seamless integration with TD Canada Trust accounts
Strong educational tools and investor support
Key Details:
Commissions: $9.99 per trade
Minimum Deposit: $0 (but $15,000 to avoid maintenance fees)
Monthly Fees: $25 quarterly if balance under $15,000
Bonus Offer: Periodic promos for cash or free trades
Best For: TD clients wanting convenience and research tools
Best for: All Investors
Questrade
5.0/5
Bonus Offer
$50 trade credit
Monthly Fee
$0
Min. Deposit
$1,000
Commissions
$4.95 – $9.95 per trade
Why it's great:
Low fees with free ETF purchases
User-friendly platform for beginners and pros alike
Strong support for registered accounts (TFSA, RRSP, etc.)
Key Details:
Commissions: $4.95–$9.95 per trade (ETFs free to buy)
Minimum Deposit: $1,000
Monthly Fees: $0
Bonus Offer: Up to $250 cash or transfer fee rebate (with promo code)
Best For: Cost-conscious DIY investors
Best for: All Investors
Wealthsimple Trade
4.8/5
Bonus Offer
$25 bonus
Monthly Fee
$0
Min. Deposit
$0
Commissions
$0 on all trades
Why it's great:
100% commission-free stock and ETF trading
Simple and clean mobile-first platform
No minimums or fees make it beginner-friendly
Key Details:
Commissions: $0 on all trades
Minimum Deposit: $0
Monthly Fees: $0 (Wealthsimple Plus available at $10/mo for USD trades)
Bonus Offer: $25–$50 cash with qualifying deposit
Best For: Beginners and no-fee investors