Interactive Brokers Canada Fees 2026: Full Cost Breakdown | Broker Guide Canada

Interactive Brokers is the institutional-grade option for Canadian self-directed investors who are serious about cost. Its per-share commission model, near-interbank FX rates, and industry-low margin rates make it the cheapest broker in Canada for active traders and anyone regularly converting between CAD and USD. The tradeoff: a more complex platform and pricing structure that can overwhelm beginners. If you trade with meaningful frequency or on margin, IBKR will almost certainly save you money.

Trading Commissions: Stocks and ETFs

IBKR offers two pricing structures — Fixed and Tiered. Most Canadian retail investors use Fixed, which is simpler and more predictable.

Fixed pricing — Canadian stocks:

$0.01 CAD per share
Minimum: $1.00 CAD per order
Maximum: 0.5% of trade value
Exchange, clearing, and regulatory fees are included in the fixed rate

Fixed pricing — US stocks:

$0.01 USD per share
Minimum: $1.00 USD per order
Maximum: $9.79 USD per trade (or 0.5% of trade value)
All exchange and regulatory fees included

Tiered pricing reduces the per-share rate as monthly volume increases, starting at USD $0.006/share for US stocks under 300,000 shares per month and dropping further at higher volumes. ECN rebates and fees are passed through directly on the Tiered structure.

Options

Canadian options: $1.25 CAD per contract (under 10,000 contracts per month) — minimum $1.50 CAD per order; drops to $1.00 per contract above 100,001 contracts per month.

US options (Tiered): $0.65 USD per contract under 10,000 contracts per month; lower at higher volume.

Exercise and assignment: no separate fee. US options regulatory fees (ORF) apply on top of per-contract commissions.

Foreign Exchange (FX) — IBKR's Biggest Advantage

This is where Interactive Brokers separates itself from every other Canadian retail broker. The FX spread is dramatically lower than the industry standard.

CAD to USD spread: approximately 0.2% above the interbank rate — versus 1.5% at Wealthsimple and Questrade
At $10,000 converted: IBKR costs roughly $20 vs. approximately $150 at the typical Canadian retail broker
Over 100 currency pairs available with 23 base currencies
For anyone regularly buying US-listed stocks or ETFs, the FX savings alone can outweigh any commission difference

Margin Rates

IBKR consistently benchmarks as the lowest-margin-rate broker available to Canadian retail investors.

Rates are tiered by loan balance — the spread above the benchmark rate decreases as your balance increases
A minimum floor of 0.75% applies regardless of tier
Interest accrues daily; posted monthly on the third business day of the following month
Blended rate applies across tiers — first $100,000 at Tier I rate, next tranche at Tier II, and so on
Check current rates at interactivebrokers.ca — rates change without prior notice

Account and Administrative Fees

Account maintenance: $0 — no monthly or annual fees for self-directed accounts
Inactivity fee: $0
Account minimum: none
Withdrawals: 1 free withdrawal per month (EFT or wire); subsequent withdrawals in the same month attract a nominal fee
Transfer out: verify current fee with IBKR — outgoing transfer fees may apply

Quick Math · CAD → USD

The real cost of converting $10,000 CAD to USD

Same trade, four brokers, wildly different bills.

Interactive Brokers ~0.002% + $2

$2 0.02%

Wealthsimple Core 1.5% spread

$150 1.50%

Questrade 1.5% spread

$150 1.50%

RBC Direct Investing ~2% spread (Big 5 typical)

$200 ~2.00%

Over a USD-heavy investing lifetime, the gap pays for IBKR's learning curve several times over. On a $50K USD portfolio with two CAD↔USD conversions a year, the savings versus the Big 5 are roughly $400 annually — enough to cover a market data subscription and then some.

Futures

TSX 60 futures (example): approximately $2.00 CAD all-in per contract — IBKR execution fee plus exchange, clearing, and regulatory fees. There is volume tiered pricing available for high-frequency futures traders.

ECN and Exchange Fees

Fixed pricing: ECN and exchange fees are included in the per-share commission — no add-ons
Tiered pricing: ECN fees and rebates are passed through directly — you may receive rebates for adding liquidity and pay fees for removing it
SmartRouting searches for best available price at execution; note that higher-fee venues may be selected to get a better quoted price

Data and Platform

Trader Workstation (TWS) desktop platform: included — professional-grade with extensive order types, charting, and risk tools
Web Client Portal: included
IBKR Mobile: included
Paper trading (simulated): free for funded account holders
Level 2 and market depth data: available — some exchanges require paid data subscriptions
API access: available for algorithmic and automated trading strategies

Verdict: Who Should Use Interactive Brokers Canada?

IBKR is the lowest-cost broker in Canada for the investors it's designed for. The complexity is real — but so are the savings.

Best for: active traders, options traders at moderate-to-high volume, margin traders, investors in US or international markets who care about FX costs, anyone who wants access to global markets across 80+ exchanges, advanced platform users and algo traders

Not ideal for: beginners who find the platform overwhelming, passive buy-and-hold investors making a handful of trades per year (the complexity isn't worth it for small volumes), anyone who prioritizes a clean and simple mobile experience

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Disclosures

All fees are current as of 2026 and subject to change. Verify rates at interactivebrokers.ca before making investment decisions.