Interactive Brokers
8.8 Great
Stock Trading Fee | Max. 0.5% |
---|---|
Account Fee | $0 |
FX Fee | 0.2 bps trade value, min $2.00 |
Min. Deposit | $0 |
Charles Schwab is one of the largest stock brokerages in the US. It offers commission-free online trading, no account or trade minimums, and user-friendly trading platforms and apps.
Charles Schwab is a popular choice for online investors, so you might be wondering, can I use Charles Schwab in Canada?
No. Unfortunately, Charles Schwab does not accept clients from Canada. So if you’re searching for the best online brokerage for your needs, you’ll need to check out the alternatives below.
Interactive Brokers
8.8 Great
Stock Trading Fee | Max. 0.5% |
---|---|
Account Fee | $0 |
FX Fee | 0.2 bps trade value, min $2.00 |
Min. Deposit | $0 |
CIBC Investor's Edge
7.6 Great
Stock Trading Fee | $0–$6.95 |
---|---|
Account Fee | $100 |
FX Fee | Varies |
Min. Deposit | $0 |
Moomoo Financial Canada
7.4 Great
Stock Trading Fee | $0.99 - $$1.49 |
---|---|
Account Fee | $0 |
FX Fee | 0.09% + USD$2 |
Min. Deposit | $0 |
Qtrade Direct Investing
7.7 Great
Stock Trading Fee | $6.95 - $8.75 |
---|---|
Account Fee | $0 - $25/quarter |
Min. Deposit | $0 |
Questrade
9.1 Excellent
Stock Trading Fee | $0 |
---|---|
Account Fee | $0 |
FX Fee | 1.5% |
Min. Deposit | $0 |
RBC Direct Investing
7.9 Great
Stock Trading Fee | $9.95 |
---|---|
FX Fee | 0.10% - 1.60% |
Min. Deposit | $0 |
A Charles Schwab brokerage account offers the following features to eligible users.
You can use your Charles Schwab brokerage account for self-directed investing, but you can also automate your investing with Schwab’s robo-advisor that can help you build and manage your portfolio. Alternatively, you can work with a dedicated advisor to find the right investments for your needs.
You can open an individual or joint brokerage account with Charles Schwab. But this brokerage also offers a variety of IRAs, a Personal Choice Retirement Account, college savings accounts and small business accounts.
You can use your Schwab brokerage account to trade stocks, ETFs, mutual funds, options, futures, bonds, money market funds and more. You can trade on major US exchanges like the NYSE and NASDAQ, while fractional shares are also supported with Schwab Stock Slices. If you want exposure to international markets, you can also trade American Depositary Receipts (ADRs), foreign ordinaries, Canadian stocks and global ETFs.
If you’re searching for access to a wide range of global markets and assets from a trading platform for Canadians, Interactive Brokers is well worth a look. It offers access to around 160 exchanges globally.
Charles Schwab offers commission-free trading of stocks, ETFs, options (+ US$0.65 per contract fee), mutual funds and bonds.
If you’re searching for commission-free trading in Canada, Questrade is one broker that offers zero-commission stock, ETF and options trading ($0 + $0.99 per contract).
Make informed investing decisions with market research and reports from Schwab and third-party firms like Morningstar and Argus. You can also use convenient screeners and stock lists, get the latest pricing details and check Schwab Equity Ratings.
All of the alternatives to Charles Schwab in Canada provide access to a wide range of research and analysis tools to help you decide where to invest. Compare each platform head to head to decide which one is right for you.
Schwab offers a choice of trading platforms designed to meet the needs of beginners as well as more experienced traders. New investors can get started on schwab.com or the Schwab Mobile app, while those looking for more advanced tools can use the thinkorswim desktop, mobile or web platforms.
Interactive Brokers and Questrade are two alternatives in Canada that offer a choice of trading platforms to suit beginners and more advanced investors.
Yes, you can. Charles Schwab offers international accounts to investors based outside of the US and to non-US residents who live in eligible countries.
You can open an international account online by providing the following:
It will take between 3 days and 2 weeks for Charles Schwab to process your application.
While it primarily operates in the US, Charles Schwab also offers accounts to users in other countries. These include the UK, Hong Kong, Singapore and Spain.
Not sure if you live in a qualifying country? Simply select your country of residence from the drop-down menu on the Charles Schwab international account opening page. You’ll then be informed whether your application can be processed or not.
Yes. In the US, Charles Schwab Bank, a subsidiary of The Charles Schwab Corporation, offers deposit and lending products and services.
Its offerings include Investor Checking accounts, Investor Savings accounts, credit cards and Individual Retirement Accounts (IRAs). Charles Schwab Bank is also a member of the Federal Deposit Insurance Corporation (FDIC).
You can’t directly buy and sell cryptocurrencies with Charles Schwab. However, the brokerage does allow you to invest in a range of products that provide exposure to crypto assets.
You can:
If you’re a Canadian resident, you won’t be able to open a Charles Schwab account.
But if you’re a resident of another country where Charles Schwab does offer its services, such as the US, you will be able to access your Charles Schwab account while visiting Canada temporarily. But if your visit to Canada turns into something more permanent, you’ll need to consider switching over to Charles Schwab alternatives that offer trading accounts for Canadian residents.
The best Charles Schwab alternative for you depends on factors such as how often you trade, what assets and markets you want to invest in, whether you’re a beginner or experienced investor, and even what brokerage signup bonuses are currently available.
That said, some of the best alternatives to Charles Schwab in Canada are Interactive Brokers and Moomoo. Interactive Brokers stands out for its access to a huge range of assets and global markets, and for its advanced trading tools for experienced investors. Moomoo is worth checking out if you want a user-friendly platform, free real-time market data and competitive commissions.
Charles Schwab founded his brokerage company, The Charles Schwab Corporation, in 1971. He transformed it into a discount brokerage in 1974, shaking up the industry with low trading commissions to make investing more accessible for more people.
Schwab has served as chairman of The Charles Schwab Corporation since its inception, while he was the company’s CEO until 2008. Charles Schwab has also authored several investment books.
No, Schwab is not owned by TD, but the two companies do have a shared history.
Back in 2020, Charles Schwab acquired TD Ameritrade, TD Bank’s online brokerage. As part of the deal, TD received an ownership stake of approximately 13.5% in Schwab.
However, in February 2025, TD announced that it would sell its equity investment in The Charles Schwab Corporation.
TD announced it was selling its shares in Charles Schwab as part of a strategic review. The news came after US regulators sanctioned TD Bank in 2024 for failing to prevent money laundering at its US branches. TD was fined US$3.1 billion for the breaches, and regulators also put a cap on the bank’s growth in the US.
TD’s CEO Raymond Chun said the bank would use $8 billion of the predicted $20 billion proceeds from the sale as part of a share buyback program.
Charles Schwab isn’t available in Canada—but several trusted alternatives are. Compare the features, fees and ease of use of a range of online brokerages before deciding which is the right one for you to start your investing journey.
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