If you are new to trading in the Canadian market but have experience trading in the U.S. or other markets, you'll find much that's familiar. Canadian investors fund an account and make a deposit, then place trades through an internet browser, desktop or mobile app. You can manage a watch list and conduct research just as U.S. investors do. However, there are several important considerations of which Canadian investors should be aware before selecting a broker in Canada, considerations that are not a concern in the U.S. Annual fees - In the U.S., it is very rare to see an online broker charge annual fees (also listed as inactivity fees or maintenance fees), whereas in Canada annual fees are very common. Wealthsimple does not charge a maintenance fee and doesn’t have a minimum account size. Questrade only requires a minimum of $1,000 to avoid an annual fee. In contrast, Scotia iTRADE, BMO InvestorLine, and CIBC Investor’s Edge all require at least $25,000 for RRSP accounts to avoid paying an annual fee. Trading tools and platforms – The larger Canadian brokers do a good job with stock research, thanks to their use of popular third-party providers such as Morningstar and Trading Central (Recognia). However, the trading tools and platforms can vary significantly among brokers. Order types – Market orders, limit hours, and stop orders are standard across the industry. However, trading U.S. stocks from Canada can vary from broker to broker in terms of what is available. This includes after-hours trading. Advanced order types, such as conditional orders, will also vary from broker to broker. Banking services – Banks that offer online trading in the U.S. (for example, Merrill Edge through Bank of America) provide a seamless client experience. Moving money between accounts, changing between bank and brokerage accounts through one login, tax reporting, and similar functionality are all expected to be present as part of the holistic trading experience. This also flows into in-person service at a local branch office. In Canada, the client experience can vary significantly from bank to bank.