Updated September 28, 2026 · BrokerCue Editorial Team
BMO InvestorLine vs Charles Schwab
Where BMO InvestorLine and Charles Schwab differ
| Compare |  BMO InvestorLine |  Charles Schwab |
|---|---|---|
| Stock trade fee | CA$0 | $0 |
| Account fee | CA$0 | $0 |
| Inactivity fee | CA$0 | $0 |
| Markets | Stocks, ETFs, Options, Bonds, Funds | Stocks, ETFs, Options, Futures, Bonds, FundsCovers more |
| Margin rate | 8.75%Lower | 12.075% |
| Options contract fee | CA$0.90 | $0.65 |
| Minimum deposit | Not confirmed | $0 |
| Regulators | Not confirmed | SIPC |
| Investor protection | Not confirmed | SIPC up to USD 500,000 |
| Currency conversion fee | 0.4% to 1.6% | Not confirmed |
| Deposit and withdrawal fees | $0 EFT, $10 wire | Not confirmed |
| Platforms | Not confirmed | Thinkorswim, Schwab Mobile |
| Account types | Not confirmed | IRA, Roth IRA, Joint, Corporate |
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Key differences
- BMO InvestorLine scores higher overall: 9.4 vs 9.0.
- Margin rate is lower at BMO InvestorLine: 8.75% vs 12.075%.
- Markets: only Charles Schwab offers Futures.
- Support channels: only Charles Schwab offers Help centre.
- Features: only BMO InvestorLine offers Options.
- Features: only Charles Schwab offers Fractional shares, Demo account.
Our verdict on each
BMO InvestorLine
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.
Charles Schwab
Charles Schwab suits investors who want a wide US market range at a low running cost, with $0 on stock trades and an account fee of $0. It is less suited to those who want forex, CFDs or crypto on the same account.
Score breakdown
| Area | BMO InvestorLine | Charles Schwab |
|---|---|---|
| Cost | 9.2HigherCommission-free stock and ETF trades, no account fee and no inactivity fee, with options and margin priced separately at CAD 0.90 and 8.75%. | 9.1Stock trades cost $0, the account fee is $0 and the inactivity fee is $0. Options contracts add $0.65. |
| Offer | 9.2 | 9.5Higher |
| Trust | 9.6Higher | 8.6 |
Side by side, item by item
| Markets | BMO InvestorLine | Charles Schwab |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | Yes |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
Availability and regulation
| Country | BMO InvestorLine | Charles Schwab |
|---|---|---|
| United States | Not confirmed | SIPC SIPC member 16514 |
Where they rank in our lists
| Ranking | BMO InvestorLine | Charles Schwab |
|---|---|---|
| Stock and ETF brokers | 43 of 490 | 129 of 490 |
| Options trading platforms | 13 of 103 | 50 of 103 |
| Margin trading brokers | 6 of 22 | 15 of 22 |
| Low-fee brokers | 6 of 11 | 11 of 11 |
A third option
Nexo has margin rate at 1.9%, against 8.75% for BMO InvestorLine and 12.075% for Charles Schwab.
Nexo reviewWhat we checked
BMO InvestorLine
- finder.com: 5 facts, checked September 26, 2026
- newsroom.bmo.com: 3 facts, checked September 26, 2026
- hellosafe.ca: 2 facts, checked September 26, 2026
- stockwatch.com: 1 fact, checked September 26, 2026
- wowa.ca: 1 fact, checked September 26, 2026
Charles Schwab
- schwab.com: 9 facts, checked September 26, 2026
- sipc.org: 3 facts, checked September 26, 2026
- moneysmart.hk: 2 facts, checked September 26, 2026
- bankrate.com: 1 fact, checked September 26, 2026
- public.com: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | BMO InvestorLine | Charles Schwab |
|---|---|---|
| Features | Mobile app, Options | Fractional shares, Demo account, Mobile app |
| Pricing model | Commission free | Commission free |
| Legal entity | Not confirmed | CHARLES SCHWAB & CO INC |
| Headquarters | Not confirmed | United States |
| Founded | 1988 | Not confirmed |
| Support channels | Phone, Chat | Chat, Phone, Help centreCovers more |
Robo-advisors
| Fact | BMO InvestorLine | Charles Schwab |
|---|---|---|
| Management fee | Not confirmed | 0% |
| Minimum investment | Not confirmed | $5,000 |
| Portfolio types | Not confirmed | ETF, Cash |
Where each stands against the rest
| Fact | BMO InvestorLine | Charles Schwab | Median |
|---|---|---|---|
| Minimum deposit | Not confirmed | $0below the median | $10 |
| Currency conversion fee | 0.4% to 1.6%at the median | Not confirmed | 0.4 |
| Margin rate | 8.75%below the median | 12.075%highest quarter | 8.79% |
Median across 99 listed brokers.
Pros and cons
BMO InvestorLine
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.
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.
Charles Schwab
Pros
- Stock trades cost $0 and there is an account fee of $0, so holding a balance costs nothing to keep open
- No inactivity charge either, with an inactivity fee of $0, so an unused account is not billed
- Markets run stocks, etfs and options, which covers shares, exchange traded funds, options, futures, bonds and funds in one place
Cons
- Options contracts carry a fee of $0.65 each, so a derivative trade costs more than the $0 charged on a stock trade
- The listed markets are stocks, etfs and options, and forex, contracts for difference and crypto are not among them
- Support runs on chat, phone and help centre, and email is not among those channels
Who each suits
BMO InvestorLine
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%.
Charles Schwab
Who it suits
- Investors buying US shares and exchange traded funds who care about what each trade costs
- Retirement savers who want tax-advantaged accounts next to a taxable account
- Fractional share investors building a position gradually with small monthly amounts
Who should look elsewhere
- Anyone wanting forex, contracts for difference or crypto, where eToro lists stocks, etfs and forex against Schwab's stocks, etfs and options
- Traders who want a per contract derivative fee waived, since options cost $0.65 here
- Investors starting a managed portfolio with less than the $5,000 the service asks for
Country by country
| Country | BMO InvestorLine | Charles Schwab |
|---|---|---|
| United States | No | Yes |
Questions about each
BMO InvestorLine
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%.
Charles Schwab
How much does it cost to trade stocks at Charles Schwab?+
Stock trades cost $0, and there is no account charge on top, with the account fee at $0. Trading is commission free, so the cost of a buy or sell is not driven by a per trade ticket. Options are the exception, priced at $0.65 per contract.
Is there an inactivity fee if I leave my account empty?+
The inactivity fee is $0, so an unused brokerage account is not billed for sitting still. That keeps a dormant account free to hold, which matters if you fund once and add to it occasionally. The same applies to the account fee, which is $0.