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?

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
national bank direct brokerage has no fees. But the conversion rate for USD CAD is not that good I think. So i think you should use the norbert gambit method in case you need to convert
I have my direct deposit linked to EQ bank savings account From there I pay my PC credit card and keep my emergency fund of 6 months spending I send every dollar after that to wealthsimple for Canadian stock investing or to National bank direct brokerage for USD stock investing . I have full functionality and pay 0 dollars in fees every month . For those who will nit pick I also have a 0 fee CIBC savings account which allows me to access my CIBC lines of credit . Your welcome
I'm curious about this as well, and will be following the answers in this thread. One question I have, do I need to track ACB if I'm using a brokerage that doesn't have commissions? For example, wealthsimple trade or national bank direct brokerage. In this case there are no commissions, so I don't see why the cost basis needs adjusting.
Meanwhile Questrade does charge for buying stocks and for selling stocks and ETFs, so they definitely have fees. WealthSimple Trade and National Bank Direct Brokerage, on the other hand, don't charge fees for buying or selling stocks/ETFs.