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?
Is Charles Schwab available 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.
Charles Schwab brokerage account alternatives in Canada
Like Charles Schwab, Interactive Brokers offers a feature-rich trading experience for investors. It offers a choice of platforms to suit investors with different levels of experience, and it charges competitive fees with no account minimums. But where Interactive Brokers really shines is in the range of markets it allows you to access, with the ability to trade stocks, options, bonds and more on 160 global markets.
Pros
Trade a huge range of assets and markets
Advanced trading tools and order types
Choose a trading platform to suit your experience
Easy access to market research and analysis
Cons
Some features may be overwhelming for beginners
Watch out for withdrawal fees
No mutual fund trading in Canada
Monthly Account Fee
$0
Account Types
RRSP, TFSA, Personal, Joint
Available Asset Types
Stocks, Bonds, Options, Index Funds, ETFs, Forex, Currencies, Futures
Get 100 free online stock and ETF trades when you open a new account & get up to $15,000 in cashback when you transfer funds from outside CIBC to your new or existing account. Valid until March 31, 2026. T&Cs apply.
CIBC Investor's Edge is worth a look if you want a brokerage run by a Big Five bank. Like Schwab, this online and mobile trading platform offers tools to suit beginners as well as more experienced investors. You can trade stocks, ETFs, options and other assets across a wide range of account types, while active, young and student investors can also take advantage of fee discounts.
Pros
No minimum deposit
Trade a wide range of assets
Big Five brokerage
Good selection of research tools
Cons
You'll find lower fees at discount brokerages
$100 annual fee if you don't meet a balance requirement
Moomoo is a discount brokerage that lets you trade Canadian and US stocks and ETFs with low fees. You can trade via user-friendly desktop and mobile apps. The inclusion of free Level 2 market data is a big plus.. And just like Charles Schwab, Moomoo support is available 24/7.
Pros
User-friendly brokerage
Free Level 2 market data
Paper trading account
Advanced tools to suit experienced traders also available
Cons
You can't trade as many asset types as on some other platforms
Watch out for per-stock fees on large trades
Signup Offer
Get up to $4,600 in trading perks.
Monthly Account Fee
$0
Account Types
RRSP, TFSA, Personal, FHSA
Available Asset Types
Stocks, Options, ETFs
ETF Transaction Cost
USD$0.99/stock
Option Fee
US stocks and ETFs: USD$0.99/stock (min. US$1.99 per trade)
Get 5% cash back on every dollar you invest up to $15,000 and 1% cash back on any amount above that. Plus, new clients receive unlimited free trades. Use code QTRADE2025. Valid until January 5, 2026. T&Cs apply.
Qtrade is a popular brokerage platform that lets you trade from your desktop or mobile device. It offers analyst recommendations and a wide range of learning resources for beginners, plus investment screeners and customized charting for more experienced investors. You can also access a wide range of investments and account types, so it's a solid option if you're looking for alternatives to Charles Schwab in Canada.
Pros
$0 commissions on equities, mutual funds, ETFs and options
Access multiple portfolio views
Easy to use
Canadian brokerage
Cons
No futures trading
Signup Offer
Get 5% cash back on every dollar you invest up to $15,000 (up to $750 cash back) and 1% cash back on any amount above that (up to max. cash back of $2,000). Plus, new clients receive unlimited free trades. Use code QTRADE2025. Valid until January 5, 2026.
Questrade is a Canadian brokerage that, like Charles Schwab in the US, allows you to trade stocks and ETFs commission-free. You can also access self-directed investing or pre-built portfolios, and there are different platforms to choose from based on your trading experience and needs. And with fractional share trading supported too, you don't need a large balance to start investing.
Pros
Commission-free trading
Easy to use
Platforms to suit beginners as well as active traders
Canadian brokerage
Cons
Watch out for high investment minimums on bonds and GICs
No futures trading
Some other platforms provide access to a wider range of global markets
Signup Offer
Get free contracts, no commissions and a 30 day free trial of Questrade Plus. Use the offer code FREEOPTIONS.
If you're looking for a brokerage that is run by a major financial institution just like Charles Schwab, RBC Direct Investing is worth a look. This big bank brokerage now offers commission-free trading on selected ETFs and all mutual funds, plus real-time streaming quotes so you can make trading decisions based on up-to-date market data. Best of all, you can use RBC Direct Investing to trade stocks, ETFs, options, mutual funds, GICs, bonds and more.
Pros
Practice Account for new investors
No minimum balance requirement
Access a wide range of account and investment types
$9.95 ($6.95 if you place 150+ trades per quarter)
Option Fee
$6.95 to $9.95 (+$1.25 per contract)
Stock Trading Fee
$9.95
FX Fee
0.10% - 1.60%
Min. Deposit
$0
How does the Charles Schwab brokerage account work?
A Charles Schwab brokerage account offers the following features to eligible users.
Self-directed or managed investing
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.
Account types
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.
Investment products
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.
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).
Investment research tools
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.
Trading platforms
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.
Can you open a Charles Schwab brokerage account in another country?
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:
Your name
Proof of ID
Your address
Your investing purpose and the source of your funds
Your employment details
Information about the account details you want
It will take between 3 days and 2 weeks for Charles Schwab to process your application.
Which countries does Charles Schwab operate in?
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.
Is Charles Schwab a bank?
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:
Buy and sell exchange-traded products that invest directly in spot Bitcoin and Ethereum.
Trade Schwab Investing Themes portfolios related to crypto, such as the Blockchain theme.
Trade stocks and ETFs to gain exposure to companies that work in the crypto space.
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.
What is the best Charles Schwab alternative in Canada?
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.
Is Schwab owned by TD?
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.
Why did TD Bank sell its stake in Charles Schwab?
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.
Bottom line
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.
Frequently asked questions about Charles Schwab
The Charles Schwab Challenge is a professional golf tournament on the PGA Tour. It's held each year in May at Colonial Country Club in Fort Worth, Texas.
The 4% rule is a strategy commonly used in retirement planning. It specifies that you should withdraw 4% of your total investments in your first year of retirement, then adjust the amount you withdraw each year to account for inflation. The aim is to ensure that the money you have saved for retirement will last a minimum of 30 years.
Yes. The Schwab Mobile app is free to download from the App Store and Google Play, and you can use it to trade stocks, ETFs, mutual funds and more. Schwab customers can also trade via the thinkorswim mobile app.
Sources
Important information: Powered by Finder.com. This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider the Product Disclosure Statement and Target Market Determination for the product on the provider's website. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.
Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors.
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