3 of the Best Canadian Stock Brokers

Do you live in Canada and need a broker? You may be aware that trading stock through Canadian banks can be expensive and execution isn't always too good.

Fortunately there are a few Online Canadian Stock Brokers that allow you to trade stocks more easily and cost effectively than your bank.

Whether are you looking to trade Canadian Penny Stocks or American Blue Chip stocks. There is a broker here for you.

My number 1 choice is:

Questrade
This is a discount canadian stock broker, which means it just offers a basic trading account without any extras. Due to this they are able to offer a very cost effective trading service.

Trades costs 1 cent per share with a $4.95 minimum and a $9.95 maximum. The good news is that even if you trade Canadian Penny Stocks, you'll never paid more than $9.95.

Questrade is a Canadian owned and operated broker. They were founded in 1999.

They also offer Forex and Gold Bullion.

Click here to open an account with Questrade

My 2nd choice is:

Optionsxpress
As their name suggests, optionsxpress offer options. This was the only instrument they offered when they started back in 2000. Today they offer a very comprehensive range of instruments including stocks, futures, options, mutual funds and much more.

It's worth mentioning, they have won the Barron's award for "best online broker" for the last five years.

The only downside is if you are looking for a canadian penny stock broker, optionsxpress is not for you. They charge $9.95 per trade for normal stocks, but for penny stocks they charge $14.95 or 5% of your total order, whichever is highest.

Click here to open an account with Optionsxpress

My 3rd choice:

Interactive Brokers
This is a large Canadian Stock Brokerage that was established in late 2000. They are not Canadian owned or operated, but they do have offices worldwide, including one in Quebec.

They are very much a "multi-instrument" broker offering forex, options, futures, mutual funds and much more.