Interactive Brokers

Interactive Brokers (IBKR) is a professional-grade international broker, particularly valued for having the lowest currency exchange fees in the Canadian market. If you regularly buy US ETFs, this is where you'll save the most.

The platform provides access to over 150 markets in 33 countries, advanced analysis tools, and margin trading at very competitive rates.

• FX fees: 0.002% (minimum $2), the lowest in Canada
• Commissions: $0.01/share (minimum $1)
• Accounts: TFSA, RRSP, FHSA, RRIF, non-registered, margin
• Transfer out: $0
• Fractional shares: yes
• Platform: Trader Workstation (TWS), powerful but complex

Best suited for experienced investors or those who invest heavily in USD and want to minimize currency exchange costs. Beginners may find the platform intimidating.