A Canadian first: National Bank Direct Brokerage announces new zero-commission pricing

Montreal, August 23, 2021

National Bank Direct Brokerage (NBDB) is launching the most competitive online brokerage fee structure on the Canadian market. With this announcement, NBDB is currently the only direct brokerage firm affiliated with a Canadian bank to have abolished commissions for all online trades on Canadian and US stocks and exchange-traded funds (ETFs). 

“The self-directed investing sector is constantly evolving, and it’s important for us to keep innovating and not rely on the status quo, for the benefit of our clients and all investors across the country. That's why we're looking for new ways to equip and support Canadian investors, and this new $0 pricing is another step in our efforts,” said Claude-Frédéric Robert, President of National Bank Direct Brokerage.


$0 commission, no minimum required.


Exchange-traded funds (ETFs)

$0 commission, no minimum required.



$0 commission + $1.25 fee per contract. A minimum of $6.25 per transaction applies.


NBDB, a market leader, in a few key facts:

  • The first Canadian bank-owned direct brokerage firm to offer $0 commission on all online stock and ETF trades, with no minimum required;
  • The security and regulatory benefits of a major bank, without the fees;
  • National Bank Direct Brokerage #1 in Investor Satisfaction with Self-Directed Brokerage Firms according to J.D. Power1;
  • Free access to tools like Strategy Builder and Value Analyzer as well as analysis and research from Morningstar and National Bank Financial to help with decision-making;
  • Training available to all (webinars, YouTube channel);
  • The first broker to offer OptionsPlay, an options comparison tool, integrated into the trading platform itself;
  • An ETF centre that allows users to filter and compare funds;
  • Real-time quotes.

1. National Bank Direct Brokerage received the highest score in the J.D. Power 2021 Canada Self-Directed Investor Satisfaction Study of investors’ satisfaction with self-directed investment firms. Visit for more details.

National Bank Direct Brokerage, as a division of a Canadian bank subsidiary, is the first broker in Canada to offer a commission-free online brokerage solution for Canadian and US stocks.

About National Bank Direct Brokerage ( )
National Bank Direct Brokerage (NBDB) is a division of National Bank Financial Inc. (NBF) and a trademark of National Bank of Canada used under licence by NBF. NBF is a member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund and a subsidiary of National Bank of Canada, a public company listed on the Toronto Stock Exchange (TSX : NA). NBDB provides order execution only services and makes no investment recommendations. Clients are solely responsible for the financial and tax consequences of their investment decisions.

About National Bank of Canada
With $351 billion in assets as at April 30, 2021,  National Bank of Canada , together with its subsidiaries, forms one of Canada’s leading integrated financial groups. National Bank has more than 26,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow National Bank’s activities at  or via social media such as  Facebook LinkedIn  and  Twitter .

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Véronique Beauchamp
Advisor, Marketing Public Relations
National Bank of Canada