{"id":849519,"date":"2020-05-05T22:45:32","date_gmt":"2020-05-06T02:45:32","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=849519"},"modified":"2026-09-21T16:37:15","modified_gmt":"2026-09-21T20:37:15","slug":"bmo-investorline-review","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/stock-trading\/bmo-investorline-review","title":{"rendered":"BMO InvestorLine Self-Directed review"},"content":{"rendered":"

What is BMO InvestorLine?<\/h3>

BMO InvestorLine is an online trading platform for self-directed investors. It lets Canadian investors trade Canadian and US stocks and ETFs as well as mutual funds, options and more via online and mobile trading platforms.<\/p>

One of InvestorLine\u2019s key features is that it now offers $0 commission stock and ETF trading. This brokerage is also known for offering personalized advice and support to investors with its BMO InvestorLine adviceDirect service, and its robo-advisor service through Nesbitt Burns with BMO SmartFolio.<\/p>

BMO InvestorLine\u2019s features<\/h3>
Fees<\/strong><\/td>$0 commissions when you trade Canadian and US stocks, ETFs and options. No account maintenance fees.<\/td><\/tr>
Available securities<\/strong><\/td>Trade stocks, bonds, options, ETFs, mutual funds, gold and silver certificates, CDRs and GICs.<\/td><\/tr>
Customer support<\/strong><\/td>Get help via phone and live chat five days a week, or visit a BMO branch for in-person service.<\/td><\/tr>
Mobile app<\/strong><\/td>The BMO Invest app has decent ratings on mobile app stores.<\/td><\/tr>
Research and tools<\/strong><\/td>Offers in-house and third-party research and recommendations plus a range of tools for performance benchmarking and fundamental analysis. Experienced traders can access advanced tools (including Level 1 & 2 data) through BMO Active Trader Pro.<\/td><\/tr>
Reliability<\/strong><\/td>BMO InvestorLine is a reliable online and mobile trading platform, though some users report that the mobile app could be more user-friendly.<\/td><\/tr><\/tbody><\/table>

BMO InvestorLine is best for fee-free trading and Big Bank security<\/h3>

When BMO announced the launch of $0 commission stock, ETF and options trading in September 2026, it was the first of the Big Five to do so. This allows it to compete with popular discount brokerages like Wealthsimple and Questrade, and it\u2019s a big selling point for anyone shopping around for a trading platform.<\/p>

The other main advantage of InvestorLine is its reputation. This is a Big Bank-backed brokerage with decades of industry experience, which offers plenty of peace of mind for everyday investors. And if you\u2019re the type of person that prefers to keep all their financial products with one bank, you\u2019ll appreciate the extensive range of other products and services BMO offers.<\/p>

Finally, InvestorLine also excels with the range of research and analysis tools it provides. You can take advantage of research from BMO Capital Markets, Morningstar, plus access analyst ratings, stock screeners, and fundamental and technical analysis tools. So if you like to do a deep dive before choosing an investment, this platform has got you covered.<\/p>

What can you invest in through BMO InvestorLine?<\/h4>
  • Canadian and US stocks<\/li>
  • Canadian and US ETFs<\/li>
  • Canadian and US options<\/li>
  • Mutual funds<\/li>
  • Bonds<\/li>
  • Gold and silver certificates<\/li>
  • GICs<\/li>
  • Canadian Depositary Receipts<\/li><\/ul>

    Pros and cons of BMO InvestorLine<\/h3>
    \n
    \n

    Pros<\/h4>\n
      \n
    • $0 commission trading.<\/strong> You can trade Canadian and US stocks, ETFs and options commission-free.<\/li>\n
    • No account admin fees.<\/strong> BMO InvestorLine previously charged a $25 quarterly fee on non-registered accounts with an account balance of less than $15,000, but this maintenance fee no longer applies.<\/li>\n
    • Wide range of research and analysis tools.<\/strong> InvestorLine provides an impressive range of tools to help you research investments, including Trading Central\u2019s Fundamental Insight and Technical Insights, reports and research from CFRA, analyst ratings from BMO Capital Markets, Baystreet.ca, Morningstar and more.<\/li>\n
    • Myriad account types.<\/strong> BMO InvestorLine offers individual and joint accounts, cash and margin accounts, and a wide range of other options such as TFSAs, FHSAs and RRSPs.<\/li>\n
    • Advanced trading platform.<\/strong> Active traders (those who complete at least 15 trades per quarter or have over $250,000 in investments) can access BMO\u2019 InvestorLine\u2019s Active Trader platform. This pro-level platform offers advanced trading features such as technical charts with over 30 drawing tools, market heat maps, Level 2 market data and customizable workspaces.<\/li>\n
    • Established platform.<\/strong> You get the peace of mind of trading with an established Big Bank brokerage that has been in business since 1988.<\/li>\n
    • Educational resources.<\/strong> InvestorLine\u2019s Education Hub provides convenient access to a range of videos, webinars and courses designed to help develop your investing knowledge.<\/li>\n <\/ul>\n <\/div>\n \n
      \n

      Cons<\/h4>\n
        \n
      • Basic mobile app.<\/strong> The BMO Invest app lacks advanced tools for experienced traders.<\/li>\n
      • No fractional shares.<\/strong> InvestorLine doesn\u2019t support fractional shares, so you\u2019ll need enough funds to cover the price of a whole stock in order to start trading.<\/li>\n
      • No demo account.<\/strong> While BMO Active Trader users have paper trading capabilities, the platform doesn\u2019t offer a paper trading account for standard users to practise trading without risking any real money.<\/li>\n
      • Limited international trading.<\/strong> If you want to trade on exchanges outside of North America, you\u2019ll need to consider other brokerage firms for online trading. BMO InvestorLine only allows international trading outside of US exchanges via over-the-phone trades for clients who call InvestorLine support, which may also incur additional exchange-specific fees.<\/li>\n
      • Some assets not supported.<\/strong> InvestorLine also doesn\u2019t support other trading options such as crypto, forex and CFDs.<\/li>\n <\/ul>\n <\/div>\n <\/div>\n

        BMO InvestorLine fees<\/h3>

        Check out the table below for a breakdown of BMO InvestorLine\u2019s key fees and charges.<\/p>
        Fee<\/th>Amount<\/th><\/tr><\/thead>
        Account fee<\/td>$0<\/td><\/tr>
        Canadian and US stocks<\/td>$0<\/td><\/tr>
        Canadian and US ETFs<\/td>$0<\/td><\/tr>
        Canadian and US options<\/td>
        • $0 + $0.90 per options contract<\/li>
        • $0 options assignment fees<\/li>
        • $0 options exercise fees<\/li><\/ul><\/td><\/tr>
        Mutual funds<\/td>$0<\/td><\/tr>
        Bonds<\/td>$0 \u2013 $49,999 bonds cost $40 + $1.50\/$1,000 and $50,000+ bonds cost $40 + $1.00\/$1,000<\/td><\/tr>
        Gold certificates<\/td>$35 + $1.00\/oz.<\/td><\/tr>
        Silver certificates<\/td>$35 + $0.10\/oz.<\/td><\/tr>
        Currency conversion fee<\/td>0.40% - 1.60%<\/td><\/tr>
        Transfer out<\/td>$0<\/td><\/tr><\/tbody><\/table>

        Is BMO InvestorLine legit?<\/h3>

        Absolutely. InvestorLine is run by the Bank of Montreal, which is one of the country\u2019s largest banks and was founded way back in 1817. InvestorLine was launched in 1988, before online trading was even a thing, and then launched online investing in 1997.<\/p>

        BMO InvestorLine is a regulated investment dealer that is a member of the Canadian Investment Regulatory Organization (CIRO). It\u2019s also a member of the Canadian Investor Protection Fund (CIPF), so you\u2019re covered by insurance should your broker become insolvent.<\/p>

        BMO InvestorLine trading platforms<\/h3>

        You have three different platforms to choose from when you start trading with InvestorLine.<\/p>

        Online trading platform<\/h4>

        It all starts with InvestorLine\u2019s standard online trading platform, which you can use to place trades and track the performance of your portfolio. You can also create your own watchlists, access research from BMO Capital Markets and a range of third-party providers, check analyst ratings and use screeners to filter your investment choices.<\/p>

        The user experience on this platform is more or less what you\u2019d expect from a Big Bank brokerage. It\u2019s not quite as slick as the modern platforms offered by some fintechs and independent brokers, but it\u2019s a robust and easy-to-use platform. All the different features you need are simple enough to find, and there\u2019s no steep learning curve to overcome before you start trading.<\/p>

        BMO Active Trader<\/h4>

        Active Trader is InvestorLine\u2019s professional-grade trading platform. It\u2019s a web-based platform rather than desktop software, and it introduces features like advanced market data and charts, Trading Central analysis tools, portfolio tracking and enhanced investment screeners. You also get handy Options Analyzer and Options Barometer tools to help inform your options trades, and we like the fact that BMO now offers a paper trading account so you can test out different strategies with virtual money.<\/p>

        BMO Invest app<\/h4>

        If you\u2019d rather trade from your smartphone, the BMO Invest app is free to download for Android and iPhone users. You can use it to quickly check your portfolio, set up watchlists and place trades.<\/p>

        Reviews for the app are generally positive, though users do report some bugs. And while it\u2019s not quite as streamlined as some popular investment apps, it still has an intuitive user interface that beginners will find easy to navigate.<\/p>

        BMO InvestorLine app store reviews<\/h3>
        Google Play app reviews<\/strong><\/td>\n\n\n\n\n\n\n\n\n \n \n\n 4.0<\/strong> \u2013\n \u2605\u2605\u2605\u2605\u2605<\/span>
        \n\n 2,332 reviews\n\n <\/span>\n\n\n