In general, discount brokerages like Interactive Brokers offer lower fees and commissions than the Big 5 Banks. While the banks have long dominated in Canada, discount brokerages have been able to disrupt the market by offering lower costs. Several reasons can explain why Interactive Brokers is able to offer lower rates. With the internet changing the way we access financial services, one reason could be that discount brokerages are usually online-only companies, and as a result, are able to lower their own costs due to not having any physical locations. These lower operational costs allow them to pass on savings to consumers. Another explanation could be that some people still trust banks more and prefer to pay higher fees to stay with their financial institution.