National Bank Direct Brokerage Review 2022

Updated January 13, 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)


2.5/5 (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?


What do people think of National Bank Direct Brokerage?

If anyone is looking for a truly free Canadian brokerage, try National bank direct brokerage. They don't charge anything for canadian or US buy and sells. The only fees they charge are from options and FX exchange if you do it on their platform. The latter you can easily avoid by connecting your brokerage account to a US bank account.
Yeah just like what ExtremeMuffin said, you can have multiple TFSA's. I have one at Wealthsimple and one at National Bank Direct Brokerage. When you have multiple accounts, you need to be extra mindful about your contributions. Your contribution limit would be shared across all of your TFSA accounts. I'd recommend tracking all of your contributions to ensure you don't go over your limit by accident.
The landscape is changing. There are currently multiple brokers with no/low fees including Wealthsimple Trade and National Bank Direct Brokerage so maybe cross that bridge when you get there.
Nowadays you don't even need the minimums anymore. National Bank Direct Brokerage has a 500-dollar minimum I believe but when I opened my account they never enforced it. Wealthsimple has no minimum.
Agreed, but those beers were cold. My first stock purchases were with TD bank and were $80 per trade. Disgusting. But I didn't do many, **** I couldn't. I was recently with Questrade, and recently moved over to National Bank Direct Brokerage and do not pay for any and all trades. If only that was a thing 25-30 years ago