FR EN
Fees · Verified September 22, 2026

National Bank fees:
$0 commission, and the rest

National Bank Direct Brokerage (NBDB). One schedule, checked on September 22, 2026, and three concrete cases to see what it costs over a year.

Exclusive No Wealthsimple account yet? Code LOIO3A gets you $35 in total ($25 + $10 by Interac e-Transfer = $35 total, code LOIO3A, after the request form). See the offer + form →
$0
commission on stocks and ETFs
$100
a year under a $20,000 balance
The schedule

National Bank fees,
line by line

National Bank Direct Brokerage (NBDB). Checked on September 22, 2026. What was not checked is written as such, never guessed.

FeeNational BankWealthsimple
Commission on stocks$0$0
ETF purchases$0$0
ETF sales$0$0
Account maintenance fee$100 per account per year, unless exempt; holding at least $20,000 in eligible assets as of May 31 is one exemption, the other criteria are in the institution's scheduleNone
Managed portfoliofees vary by product, not checked0.5% per year (Core), 0.4% from $100,000 (Premium), 0.4% down to 0.2% from $500,000 (Generation), plus ETF fees
USD conversion feenot checked1.5% under $10,000, 1% from $10,000 to $24,999, 0.5% from $25,000 to $99,999, 0% from $100,000 (by transaction size)
Options$1.25 per contract, $6.25 minimumNot offered
Trade placed by phone$60 on top of the online rate for an agent-assisted trade—
Transfer-out fee$150 per account$50 per account

ETF internal fees (management expense ratio) apply everywhere, whatever the platform.

Over a year

What it costs
depending on use

Three cases computed from the schedule above, conversion fees excluded. For your own case, the calculator lets you compare National Bank with the seven other brokers by your trades and your balance.

CasePlatform usedNational BankWealthsimple
Twelve ETF purchases a year, nothing else, $10,000 balanceNational Bank Direct Brokerage$100$0
Twenty-four stock trades a year, $5,000 balance, non-registered accountNational Bank Direct Brokerage$100$0
Sixty trades a year, $30,000 balanceNational Bank Direct Brokerage$0$0

A range appears when the schedule gives one. The fees of the ETFs held are not counted.

Avoiding them

How to pay less,
or nothing

Conditions change without notice
Every figure on this page carries its verification date. Between two checks, the official National Bank schedule governs.
The same check, elsewhere

The other schedules,
same method

RBC fees
RBC fees
$9.95 per trade · RBC Direct Investing, RBC GoSmart and RBC InvestEase
Verified July 2026
 TD fees
TD fees
$9.99 per trade · TD Direct Investing (WebBroker) and TD Easy Trade
Verified September 22, 2026
 CIBC fees
CIBC fees
$6.95 per trade · CIBC Investor's Edge
Verified September 22, 2026
 Scotia iTRADE fees
Scotia iTRADE fees
$9.99 per trade · Scotia iTRADE (Scotiabank)
Verified September 22, 2026
 Desjardins fees
Desjardins fees
$0 commission, and the rest · Desjardins Online Brokerage (Disnat)
Verified July 2026
 Questrade fees
Questrade fees
$0 commission, and the rest · Questrade (self-directed) and Questwealth (managed)
Verified July 2026
 Brokerage fee calculator
The calculator
Your trades, your balance: the eight institutions ranked by fees.
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FAQ

Frequently asked questions

By keeping a balance of at least $20,000. $100 per account per year, unless exempt; holding at least $20,000 in eligible assets as of May 31 is one exemption, the other criteria are in the institution's schedule. Under that threshold, it adds up to $100 a year.

Buying: $0. Selling: $0. The ETF's own internal fees apply on top, whatever the platform.

Fees vary by product, not checked.

$0 commission on buys and sells, no trade cap, no maintenance or inactivity fee; managed portfolio at 0.5% per year (Core), 0.4% from $100,000 (Premium), 0.4% down to 0.2% from $500,000 (Generation), plus ETF fees. Code LOIO3A gets you $35 in total at sign-up, after the request form.

Sources and verification dates