BMO InvestorLine review

Updated September 28, 2026 · BrokerCue Editorial Team · Facts checked September 26, 2026

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Our verdict

BMO InvestorLine suits Canadian investors who want a bank-backed broker without account or inactivity charges, trading stocks and ETFs commission free. What sets it apart is the pairing of a CAD 0 stock trade fee with a CAD 0 account fee, though currency conversion and options add cost.

Key facts

Best for
Canadian self-directed investors building long term stock, ETF, bond and fund portfolios.
Stock trade fee
CA$0 (Source, checked September 26, 2026)
Account fee
CA$0 (Source, checked September 26, 2026)
Inactivity fee
CA$0 (Source, checked September 26, 2026)
Markets
Stocks, ETFs, Options, Bonds, Funds (Source, checked September 26, 2026)
Currency conversion fee
0.4% to 1.6% (Source, checked September 26, 2026)
Margin rate
8.75% (Source, checked September 26, 2026)
Options contract fee
CA$0.90 (Source, checked September 26, 2026)
Deposit and withdrawal fees
$0 EFT, $10 wire (Source, checked September 26, 2026)
Founded
1988 (Source, checked September 26, 2026)
Support channels
Phone, Chat (Source, checked September 26, 2026)
Features
Mobile app, Options
Pricing model
Commission-free
Official website
bmo.com

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaLinkedInX

Pros and cons

Pros

  • Stock and ETF trades cost CAD 0 and the account fee is CAD 0, so holding a portfolio costs nothing.
  • The inactivity fee is CAD 0, so an untouched account is not charged.
  • Support runs on phone and chat, giving a phone line and live chat.
  • Markets cover stocks, etfs and options, so bonds, funds and options sit alongside shares.

Cons

  • Margin borrowing is priced at 8.75%, so a leveraged position carries a borrowing cost.
  • Options contracts carry a fee of CAD 0.90 each.
  • Currency conversion is the hidden cost, at 0.4% to 1.6%, and deposits and withdrawals run $0 EFT, $10 wire.
BMO InvestorLine

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Scored 9.4 / 10 by BrokerCue.

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Who it suits

  • Investors who want a long term stock, ETF, bond and fund portfolio without a standing account charge.
  • Traders who mainly trade Canadian equities and want phone and chat support for questions.
  • Anyone already inside a bank relationship who values a long operating history.

Who should look elsewhere

  • Day traders who live in currencies other than the Canadian dollar and would feel the 0.4% to 1.6% on every conversion.
  • Options buyers who place frequent contracts and would pay CAD 0.90 each time.
  • Leveraged traders, because margin costs 8.75%.

Fees and costs

Stock and ETF trades cost CAD 0 and the account fee is CAD 0, so a self-directed account carries no standing charge. The inactivity fee is CAD 0, which means an account left untouched is not billed. Options contracts are charged at CAD 0.90 each, and margin borrowing is priced at 8.75%. Two areas need watching: currency conversion runs at 0.4% to 1.6%, and moving money in or out costs $0 EFT, $10 wire.

How BMO InvestorLine compares

Frequently asked questions

How much does it cost to open and hold a BMO InvestorLine account?+

The account fee is CAD 0 and the inactivity fee is CAD 0, so there is no standing or dormant charge on the account. Stock and ETF trades themselves cost CAD 0. The costs that do appear are on currency conversion, options and margin.

What does it cost to trade a stock or an ETF?+

Stock and ETF trades are commission free, priced at CAD 0. The platform is listed as a commission-free model. Costs appear elsewhere: currency conversion at 0.4% to 1.6%, options at CAD 0.90 per contract, and margin at 8.75%.

What markets can I invest in?+

The available markets are stocks, etfs and options, which covers the usual North American and international stocks, exchange traded funds, bonds, funds and options. That is a traditional broker list rather than a derivatives platform, so forex, CFDs and crypto are not part of the offering.

What does margin cost?+

Margin borrowing is priced at a rate of 8.75%. It is a floating rate tied to the benchmark, and it is charged on borrowed value, so a leveraged position pays for as long as it stays open. Anyone trading on margin should treat that rate as the true cost of the position.

How much are options?+

Each options contract is charged at CAD 0.90, on top of commission free stock and ETF trades. Options are one of the costed elements on the platform rather than a commission free product, so a frequent options strategy needs the per contract charge factored into the expected return.

How do I deposit and withdraw money?+

Deposits and withdrawals are charged at $0 EFT, $10 wire, with electronic transfers free and wire transfers carrying a fee. A regular electronic transfer is the cheapest route for moving money in and out.

What platforms can I use?+

A mobile app is available as a listed feature, so the account can be run from a phone. Support is handled through phone and chat, which means a phone line and live chat rather than email alone, and the service has been operating since 1988.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Minimum deposit, Regulators, Investor protection, Retail accounts that lose money.

BMO InvestorLine

BMO InvestorLine

Canadian self-directed investors building long term stock, ETF, bond and fund portfolios.

9.4/10See alternatives

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