Personal Finance

Tradezero is finally available in Canada!!!

  • Last Updated:
  • Mar 4th, 2022 2:07 pm
User avatar
Jan 18, 2003
23 posts

Tradezero is finally available in Canada!!!

TradeZero is a brokerage that offers commission free stock trading and it's considered to be one of the best for short selling.



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Last edited by MrDisco on Mar 3rd, 2022 10:33 pm, edited 6 times in total.
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5 replies
Sep 12, 2018
64 posts
Compared to WS, is this better ?
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User avatar
Jan 18, 2003
23 posts
TradeZero is definitely better if you're daytrading. Since it's also commission free I can't think of a reason to use WS over TradeZero.
Deal Addict
Dec 25, 2017
3147 posts
Never heard of TradeZero. They also have US operations too right? How is that?

So we now have four commission-free brokerages:
WealthSimple Trade

What does everyone think is the best brokerage now they commission-free options are coming out?
Sr. Member
Jan 24, 2013
518 posts
Rainy River
To fund your account do you still have to wire US funds to the Bahamas? Also in the FAQ's you can't trade TSX listed stocks.
Deal Addict
User avatar
Jul 16, 2019
1577 posts
Looking through their site, a few things catch my eye:

• A trade is only free if it's a limit order that doesn't create an immediate match. So if you're buying, you have to offer a price lower than the current asking price. And if you're selling, you have to offer a price higher than the current bidding price. This means your order may not get filled.

• They only trade stocks on the NYSE, AMEX, and NASDAQ. Can't trade Canadian listings at all. Their faq entry on this doesn't even promise they're working on it. It just says, "Trading Canadian listed securities on any markets is not currently available."

• "CAD deposit will be automatically converted to USD in full at the exchange rate of the prevailing rate plus 75 bp"

• They say they make money via payment for order flow. I was under the impression PFOF wasn't legal in Canada, so that's weird.

• They charge $25 USD for deposits and $50 USD for withdrawals. So even if you can avoid paying for trades, you still have to pay.

• You can only fund your account via wire transfer, which is expensive.

I think it was dumb to launch without CAD accounts and TSX trades. Perhaps I could be persuaded to look past their other flaws, but these are deal breakers.