Trading Commission
The fee your brokerage charges each time you buy or sell a stock or ETF.
A trading commission is the fee a brokerage charges you every time you place a trade. If you buy 10 shares of a stock, you pay the commission. If you sell those same shares later, you pay it again. The fee is separate from the price of the investment itself.
How it works
In Canada, trading commissions used to be the norm at every brokerage, typically between $5 and $10 per trade. Over the past few years, several Canadian brokerages have moved to commission-free trading for stocks and ETFs. Wealthsimple, National Bank Direct Brokerage, and others now offer $0 commission trades on their platforms.
Some brokerages still charge commissions, especially for certain types of trades like options or for accounts below a minimum balance. It’s worth checking the fee schedule before you open an account.
Why it matters
If you’re making frequent trades or investing small amounts regularly, commissions can eat into your returns. For example, paying $10 per trade on a $200 monthly investment means 5% of your money is lost to fees before it even starts working.
Commission-free brokerages have made it much easier for people to invest small amounts without worrying about fees chipping away at every transaction. If your current brokerage charges commissions and you’re making regular trades, it might be worth looking at what else is available.
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