1.Estimates only. Figures are modelled from each broker's published headline rates and are intended for comparison, not as a quote. Verify current pricing directly with each brokerage before opening an account. Affiliate relationships do not affect rankings or the math.

2.What is included. Standard stock and ETF commissions, currency conversion costs on US-listed trades, and account or inactivity fees. Excluded: ECN and regulatory pass-through fees, options and derivatives, margin interest, market-data subscriptions, and promotional offers.

3.Commissions. Applied at each broker's headline rate. US-trade commissions are shown in Canadian-dollar equivalent terms. Interactive Brokers uses per-share pricing (CAD $0.01 per share, USD $0.005 per share, minimum $1), calculated from the average price per share entered above.

4.Currency conversion. Where a broker publishes a range, a representative rate is used (banks, Qtrade and National Bank Direct Brokerage modelled at 1.75%; Desjardins at roughly 1.0%). Interactive Brokers (about 0.002%) and Moomoo (about 0.09%) include a flat per-conversion fee. "Convert each trade" applies the markup on every US-listed trade. "Hold USD or convert in bulk" sets per-trade markup to zero and applies Wealthsimple's USD-account fee when the balance is below its waiver threshold.

5.Fee waivers. Account and inactivity fees are waived in the model on balance and trading-activity thresholds. Other waivers (age, registered account type, recurring contributions) may also apply and can reduce costs further.

6.Sources. Verified against each broker's official pricing pages. Full methodology and assumptions: disclosures.