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Broker 2

VS field	Qtrade Direct Investing qtrade.ca Stock BrokerETF BrokerETF	Fidelity fidelity.com Stock BrokerETF BrokerETF
Decision summary
Overall score

Trust score	88	100

Cost score	86	89

Platform score	85	94

Withdrawal score	79	89

Best for	Canadian DIY investors · Registered-account investors · ETF and stock investors seeking $0 commissions	Evidence supports Fidelity as a U.S.-focused, highly regulated multi-asset broker for stocks, ETFs, mutual funds, bonds/CDs, options, cash management, managed portfolios, and sepa…

Watch out	Needs verification	Needs verification

Trust & regulation
Regulators	Aviso Financial Inc. is registered in Canadian provinces/territories where it accepts accounts and is a member of CIRO. Source	Fidelity Brokerage Services LLC is SEC registered and regulated by FINRA; FBS and NFS are members of NYSE and SIPC. Source
License numbers	Specific registration or licence numbers were not disclosed in the reviewed Qtrade pages. Source	FBS CRD# 7784 / SEC# 8-23292; NFS CRD# 13041 / SEC# 801-50706, 8-26740. Source
Regulated entities	Aviso Financial Inc. is the regulated entity behind Qtrade Direct Investing. Source	Primary securities brokerage entities are Fidelity Brokerage Services LLC (FBS) and National Financial Services LLC (NFS), each member NYSE/SIPC; advisory and crypto entities differ by product. Source
Negative balance protection	No negative balance protection disclosed; margin risk disclosure states margin trading can amplify losses and investors may lose more than initial investment. Source	Not applicable/not disclosed as a CFD-style negative balance protection policy; margin trading can create debt/interest obligations. Source
Investor compensation	CIPF member; Qtrade crypto-ETF page says Qtrade Direct Investing accounts are protected by CIPF coverage up to applicable limits. Source	SIPC coverage up to $500,000/$250,000 cash plus Fidelity excess SIPC; FDIC sweep coverage may apply to eligible cash programs; important exclusions apply. Source
Restricted countries	Jurisdiction restrictions are disclosed generally, not as a country list. Source	U.S.-persons focused; sanctioned countries/prohibited parties restricted; no exhaustive country availability list found. Source

Trust & regulation

Regulators

Aviso Financial Inc. is registered in Canadian provinces/territories where it accepts accounts and is a member of CIRO.

Source

Fidelity Brokerage Services LLC is SEC registered and regulated by FINRA; FBS and NFS are members of NYSE and SIPC.

Source

License numbers

Specific registration or licence numbers were not disclosed in the reviewed Qtrade pages.

Source

FBS CRD# 7784 / SEC# 8-23292; NFS CRD# 13041 / SEC# 801-50706, 8-26740.

Source

Regulated entities

Aviso Financial Inc. is the regulated entity behind Qtrade Direct Investing.

Source

Primary securities brokerage entities are Fidelity Brokerage Services LLC (FBS) and National Financial Services LLC (NFS), each member NYSE/SIPC; advisory and crypto entities differ by product.

Source

Negative balance protection

No negative balance protection disclosed; margin risk disclosure states margin trading can amplify losses and investors may lose more than initial investment.

Source

Not applicable/not disclosed as a CFD-style negative balance protection policy; margin trading can create debt/interest obligations.

Source

Investor compensation

CIPF member; Qtrade crypto-ETF page says Qtrade Direct Investing accounts are protected by CIPF coverage up to applicable limits.

Source

SIPC coverage up to $500,000/$250,000 cash plus Fidelity excess SIPC; FDIC sweep coverage may apply to eligible cash programs; important exclusions apply.

Source

Restricted countries

Jurisdiction restrictions are disclosed generally, not as a country list.

Source

U.S.-persons focused; sanctioned countries/prohibited parties restricted; no exhaustive country availability list found.

Source

Costs & account conditions
Minimum deposit	No minimum deposit to begin trading in a Qtrade account. Source	$0 to open a retail brokerage account; Fidelity states no account minimum and ability to invest with as little as $1; exceptions apply by account/product. Source
Spread from	No quoted spread-from applies to ordinary securities trading; Qtrade may earn revenue on foreign exchange conversions but the conversion spread was not disclosed. Source	Not applicable to Fidelity's core U.S. stock/ETF brokerage model; securities trade by exchange/market prices rather than quoted CFD/FX spreads. Source
Commission	Core online commission schedule is $0 for equities/ETFs/mutual funds, $0 + $0.75 per options contract, fixed income $1 per $1,000 face value. Source	$0 online U.S. stock and ETF trades; $0 online options commission plus $0.65/contract; other product/service fees apply. Source
Maximum leverage	No single maximum leverage ratio disclosed; margin depends on loan value, margin excess, security, concentration and regulatory/broker policy. Source	No universal maximum leverage ratio disclosed for Fidelity retail brokerage; margin borrowing is available subject to approval and margin requirements/rates rather than a single max leverage figure. Source
Deposit fee	EFT is free for all accounts. Source	$0 Fidelity fee for EFT and Fidelity does not charge wire fees; external banks may charge. Source
Withdrawal fee	EFT free; registered withdrawal and transfer-out fees apply. Source	$0 Fidelity fee for EFT and domestic bank wire withdrawals; foreign exchange wire up to 3% of principal; receiving bank may charge. Source
Inactivity fee	Current official fee schedule and 2025 Qtrade announcement indicate quarterly administration fees were eliminated; no explicit inactivity fee was found in reviewed current fee schedule. Source	No explicit inactivity-fee line found in official fee schedule; official account pages state no retail brokerage account fees/no account or subscription fees. Treat as needs manual confirmation before publishing as '$0 inactivity fee'. Source

Costs & account conditions

Minimum deposit

No minimum deposit to begin trading in a Qtrade account.

Source

$0 to open a retail brokerage account; Fidelity states no account minimum and ability to invest with as little as $1; exceptions apply by account/product.

Source

Spread from

No quoted spread-from applies to ordinary securities trading; Qtrade may earn revenue on foreign exchange conversions but the conversion spread was not disclosed.

Source

Not applicable to Fidelity's core U.S. stock/ETF brokerage model; securities trade by exchange/market prices rather than quoted CFD/FX spreads.

Source

Commission

Core online commission schedule is $0 for equities/ETFs/mutual funds, $0 + $0.75 per options contract, fixed income $1 per $1,000 face value.

Source

$0 online U.S. stock and ETF trades; $0 online options commission plus $0.65/contract; other product/service fees apply.

Source

Maximum leverage

No single maximum leverage ratio disclosed; margin depends on loan value, margin excess, security, concentration and regulatory/broker policy.

Source

No universal maximum leverage ratio disclosed for Fidelity retail brokerage; margin borrowing is available subject to approval and margin requirements/rates rather than a single max leverage figure.

Source

Deposit fee

EFT is free for all accounts.

Source

$0 Fidelity fee for EFT and Fidelity does not charge wire fees; external banks may charge.

Source

Withdrawal fee

EFT free; registered withdrawal and transfer-out fees apply.

Source

$0 Fidelity fee for EFT and domestic bank wire withdrawals; foreign exchange wire up to 3% of principal; receiving bank may charge.

Source

Inactivity fee

Current official fee schedule and 2025 Qtrade announcement indicate quarterly administration fees were eliminated; no explicit inactivity fee was found in reviewed current fee schedule.

Source

No explicit inactivity-fee line found in official fee schedule; official account pages state no retail brokerage account fees/no account or subscription fees. Treat as needs manual confirmation before publishing as '$0 inactivity fee'.

Source

Markets, platforms & payments
Tradable assets	Stocks, ETFs, mutual funds, bonds, options, GICs, new issues and crypto ETFs. Source	Stocks, ETFs, mutual funds, options, crypto, fixed income, bonds and CDs; Fidelity says stocks include domestic and international. Source
Trading platforms	Web platform, Android app, iPhone/iOS app and trial account. Source	Fidelity.com, Fidelity mobile app, Fidelity Trader+ Web/Desktop/Mobile mode, and legacy Active Trader Pro Classic. Source
Account types	Cash, margin, and multiple registered and non-personal account types. Source	Broad account menu including taxable brokerage, retirement/IRA, cash management, HSA, custodial/youth, education, trust/business, managed and crypto accounts. Source
Deposit methods	Funding methods include EFT, Interac e-Transfer, bill payment, direct deposit and account transfer. Source	EFT/ACH, bank wire, check/mobile check, direct deposit, recurring deposit, Fidelity-to-Fidelity/account transfer, transfer of assets, and eligible payment apps. Source
Withdrawal methods	Withdrawals use EFT or registered account withdrawal/de-registration workflows; Interac e-Transfer is deposit only. Source	EFT/ACH, bank wire, paper check, Fidelity-to-Fidelity transfers, third-party/person-to-person transfers and eligible debit card/ATM access. Source
Withdrawal processing time	Withdrawal processing time was not disclosed in reviewed official public pages; funding via bill payment/EFT is disclosed as 1-2 business days, with EFT funds subject to up to 10 business days clearing. Source	EFT withdrawals 1-3 business days; bank wire same day if submitted by 4 p.m. ET; paper check about 5-6 days. Source

Markets, platforms & payments

Tradable assets

Stocks, ETFs, mutual funds, bonds, options, GICs, new issues and crypto ETFs.

Source

Stocks, ETFs, mutual funds, options, crypto, fixed income, bonds and CDs; Fidelity says stocks include domestic and international.

Source

Trading platforms

Web platform, Android app, iPhone/iOS app and trial account.

Source

Fidelity.com, Fidelity mobile app, Fidelity Trader+ Web/Desktop/Mobile mode, and legacy Active Trader Pro Classic.

Source

Account types

Cash, margin, and multiple registered and non-personal account types.

Source

Broad account menu including taxable brokerage, retirement/IRA, cash management, HSA, custodial/youth, education, trust/business, managed and crypto accounts.

Source

Deposit methods

Funding methods include EFT, Interac e-Transfer, bill payment, direct deposit and account transfer.

Source

EFT/ACH, bank wire, check/mobile check, direct deposit, recurring deposit, Fidelity-to-Fidelity/account transfer, transfer of assets, and eligible payment apps.

Source

Withdrawal methods

Withdrawals use EFT or registered account withdrawal/de-registration workflows; Interac e-Transfer is deposit only.

Source

EFT/ACH, bank wire, paper check, Fidelity-to-Fidelity transfers, third-party/person-to-person transfers and eligible debit card/ATM access.

Source

Withdrawal processing time

Withdrawal processing time was not disclosed in reviewed official public pages; funding via bill payment/EFT is disclosed as 1-2 business days, with EFT funds subject to up to 10 business days clearing.

Source

EFT withdrawals 1-3 business days; bank wire same day if submitted by 4 p.m. ET; paper check about 5-6 days.

Source

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