Best Brokerage Promotions in Canada 2026

Why Switch Brokerages? The Case for Transfer Bonuses

If you've been with the same brokerage for years, you might be leaving thousands of dollars on the table. Major Canadian brokerages regularly offer significant transfer bonuses—sometimes worth $500 to $3,000—simply to move your accounts to their platform. Unlike bank switching bonuses that disappear, brokerage transfer bonuses are real cash or credits that can meaningfully boost your investment portfolio.

The question isn't whether you should consider switching—it's whether you can afford not to. In 2026, we're seeing the most competitive brokerage promotions in years. Let's explore the top offers and how to make them work for you.

Top 5 Brokerage Promotions in 2026

1. Questrade: Up to $150 Cash + Commission-Free ETF Trading

Questrade continues to lead with one of Canada's most attractive offers. New account holders who transfer in at least $15,000 receive up to $150 in cash bonuses, depending on the AUM tier. What makes Questrade stand out is their permanent benefit: commission-free ETF purchases and sales. This ongoing savings adds up significantly for active investors.

• Bonus Structure: $15k-$25k = $50, $25k-$50k = $100, $50k+ = $150
• Best For: ETF investors, self-directed traders, long-term buy-and-hold investors
• Timeline: 2-6 weeks typical transfer time

2. Wealthsimple: Up to $3,000 Managed Fee Waiver + Transfer Fee Coverage

Wealthsimple's offer targets passive investors seeking a robo-advisor experience. They waive their management fees on new accounts for the first portion of your assets, plus they cover transfer fees from your old brokerage (normally $50-$150). The 1% match on transfers up to $3,000 adds significant value for those building their investment accounts.

• Bonus Structure: Fee waiver on AUM transferred, plus 1% match up to $3,000
• Best For: Beginners, passive investors, hands-off approach seekers
• Timeline: Funds available within days in some cases

3. TD Direct Investing: Up to $500 Cash Bonus

TD's promotion is straightforward: transfer account balances in, earn cash bonuses based on AUM tiers. This offer is particularly attractive for TD banking customers who can consolidate their banking and investing in one institution.

• Bonus Structure: AUM-tiered bonuses up to $500
• Best For: TD banking customers, those seeking integrated banking/investing
• Timing: Bonus deposited 4-6 weeks after transfer completion

4. RBC Direct Investing: Up to $200 Promotional Credit

RBC offers competitive bonuses with a focus on credit toward commissions and fees. This works well if you plan to trade frequently or hold options positions.

• Bonus Structure: Up to $200 in account credits
• Best For: Options traders, active investors, RBC banking customers

5. BMO InvestorLine: Up to $2,000 Cash Bonus

BMO's offer is one of the highest absolute amounts available. The tiered structure rewards larger transfers significantly.

• Bonus Structure: $10k-$25k = $500, $25k-$50k = $1,000, $50k+ = $2,000
• Best For: Large account holders with $50k+ to transfer

How Transfer Bonuses Actually Work

Transfer-In Bonuses

The most common type. You initiate a transfer from your old brokerage, and once it's complete, the new brokerage deposits cash or credits into your account. This happens automatically in most cases.

AUM Bonuses

These are tiered based on your account balance. A $60,000 portfolio might qualify for a higher tier than a $20,000 portfolio. The bonus structure creates an incentive for bringing larger accounts to the platform.

Fee Waivers and Commission Credits

Some brokerages offer bonuses as account credits rather than cash. These are valuable if you trade frequently but less useful if you're a buy-and-hold investor.

Understanding Eligibility and the Fine Print

Before you start the transfer process, understand the restrictions:

• Minimum Balance: Most promotions require a minimum transfer amount (typically $10,000-$15,000)
• Holding Period: You typically must maintain the transferred assets for 90 days to 1 year. Withdrawing early means forfeiting the bonus.
• New Customers Only: You must be new to the platform or have closed your account for a specified period
• Deposit Method Restrictions: Some bonuses only apply to transfers from other brokerages, not cash deposits
• Account Type Limitations: The promotion might apply only to non-registered accounts, or might exclude certain account types

The Strategic Advantage: Off-Peak Timing

The best time to switch brokerages is January through March. Here's why:

• RRSP Season: Brokerages run aggressive promotions during RRSP contribution season to capture new assets
• Lower Market Volatility: If doing an in-cash transfer, winter months often see less volatility than summer and fall
• Year-End Planning: Transfers completed by March allow you to settle in for tax reporting purposes
• Promotional Calendar: Most brokerages announce their annual promotions in December/January, so you know what offers exist

Avoid transferring during market downturns (in-cash transfers force you to sell at low prices) or immediately before dividend record dates (you lose dividend payments in transit).

Building Your Transfer Strategy

To maximize your transfer bonus benefit:

1. Calculate your total investable assets across all accounts
2. Identify which brokerage offers align best with your investment style
3. Use in-kind transfers (not in-cash) to avoid forced sales and tax triggers
4. Time transfers during promotional periods (January-March)
5. Consider multiple transfers if you have room—some investors open accounts at 2-3 brokerages to capture multiple bonuses
6. Document the transfer completion date for your records

For detailed comparison of all available options, check out our Brokerage Reward Optimizer tool.

Frequently Asked Questions

Q: How long does a brokerage transfer typically take?

A: Most transfers take 2-6 weeks, with 4 weeks being typical. Some brokerages can expedite transfers in 1-2 weeks if both institutions cooperate.

Q: Will I lose money during the transfer if the market drops?

A: Not if you do an in-kind transfer (transferring actual securities). Only in-cash transfers expose you to market movements while your securities are being sold and repurchased.

Q: Can I have accounts at multiple brokerages at the same time?

A: Absolutely. Many investors maintain accounts at 2-3 brokerages to access different features, better rates for specific products, and multiple promotional bonuses.

Ready to explore your transfer options? Use our Brokerage Comparison tool to find the best fit for your needs.