National Bank Direct Brokerage Review 2022

Updated September 20, 2022

Quick Info

  • Standard Equity Commission
  • Best Commission Price
  • Minimum to Open Account
    Not Required
  • Maintenance/Inactivity Fees
  • Commission-free ETF Trading
  • Young Investor Offer
    Yes (Age range: 18-30; or students)
  • Compare to Another Brokerage


3.0/5 (4)

In August 2021, National Bank Direct Brokerage (NBDB) made an ambitious move in its pricing structure, unveiling zero-commission pricing for all Canadian and US stock and ETF trades, with no minimum required. Prior to that, they had been offering the leading rate for commissions for equity trades among Canadian bank-owned online brokerages, as well as commission-free trading for Canadian and US ETFs.

As they are a bank-owned online brokerage, National Bank Direct Brokerage offers the convenience of branch services as well as the ability to manage other National Bank financial products via the standard National Bank online interface. Like their peers, National Bank Direct Brokerage offers online trading in stocks, ETFs, options, mutual funds, and bonds.

National Bank Direct Brokerage Full Review

What Account Types does National Bank Direct Brokerage offer?


    Registered Accounts

    Non-Registered Accounts

Account Fees & Requirements for National Bank Direct Brokerage


    Registered Accounts

    Non-Registered Accounts

Trading Commissions & Fees provided by National Bank Direct Brokerage


National Bank Direct Brokerage Rankings & Reviews for 2022

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How can I contact National Bank Direct Brokerage customer support?


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What do people think of National Bank Direct Brokerage?

I would not recommend Wealthsimple unless you want to keep a pure Canadian portfolio. National bank direct brokerage is great and it’s commission free as well and allows you to base your money in other currencies if you would like.
National Bank direct brokerage doesn’t charge commissions.
National Bank Direct Brokerage
Meh, judging solely on all their BNN commercials in our face, it seems to me that the only appeal for Questrade is a relatively low priced commission you'll have to pay on stock trades. But why pay a commission at all? These brokers are all ZERO commission for stock trades: Wealthsimple Trade (Canadian market only is free - USA market will cost you some bucks in forced fees) Desjardins Direct, aka. (Canadian and USA markets both no cost. Free share journalling service as well to bypass FX fees/spreads) National Bank Direct Brokerage (Canadian and USA markets both no cost - except a $9.95+tax fee to journal your shares between countries) (Canadian market only for free, USA will cost you FX fees. ALSO, I think this is only phone app based - no website platform available. Personally, I DESPISE doing anything on a **** cellphone - but to each their own) Notable mention is Qtrade (NOT Questrade - everybody confuses this name!), my wife won't let me close my account there because she likes the free level 2 stock quotes they provide. ETF trading is commission free there as well (both to buy AND to sell). However, stock trades will cost you a commission though (either $6.95 or $8.75 per trade - depending on your circumstances). I can attest that both Weathsimple and Desjardins will give you really good fills on your orders as well. (Desjardins in particular). No slippage concerns or shady practices to worry about there as many people irrationally fear a zero commission broker might do.
I see two entries second one is with round brackets. I guess this Old --< National Bank Direct Brokerage and this is New--< NBDB (Online Banking Login) But no use I have tried to update and none of these work they do not ask for 2FA.