Updated September 28, 2026 · BrokerCue Editorial Team
BMO InvestorLine vs Firstrade
BMO InvestorLine vs Firstrade: the differences
| Compare |  BMO InvestorLine |  Firstrade |
|---|---|---|
| Stock trade fee | CA$0 | $0 |
| Account fee | CA$0 | $0 |
| Inactivity fee | CA$0 | $0 |
| Markets | Stocks, ETFs, Options, Bonds, FundsCovers more | Stocks, ETFs, Options, Funds |
| Options contract fee | CA$0.90 | $0 |
| Deposit and withdrawal fees | $0 EFT, $10 wire | Free for bank transfers, $25 for wire transfers |
| Minimum deposit | Not confirmed | $0 |
| Regulators | Not confirmed | SIPC, FINRA |
| Investor protection | Not confirmed | SIPC up to USD 500,000 |
| Currency conversion fee | 0.4% to 1.6% | Not confirmed |
| Margin rate | 8.75% | Not confirmed |
| Platforms | Not confirmed | Web, iOS, Android, IPad |
| Account types | Not confirmed | IRA, Roth IRA, Joint |
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Key differences
- Firstrade scores higher overall: 9.5 vs 9.4.
- Founded is lower at Firstrade: 1985 vs 1988.
- Markets: only BMO InvestorLine offers Bonds.
- Support channels: only BMO InvestorLine offers Chat.
- Support channels: only Firstrade offers Help centre.
- Features: only Firstrade offers Demo account, Fractional shares.
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.
Firstrade
Firstrade is a US commission-free broker for retail savers who want retirement accounts and low costs in the same place. Protection is listed as SIPC up to USD 500,000, the minimum deposit is $0, and the trade-off is a market list limited to US equities, funds and options.
Score breakdown
| Area | BMO InvestorLine | Firstrade |
|---|---|---|
| Cost | 9.2Commission-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%. | 9.5HigherStock trades cost $0 and options contracts $0; transfers run Free for bank transfers, $25 for wire transfers. |
| Offer | 9.2 | 9.4Higher |
| Trust | 9.6 | 9.6 |
Side by side, item by item
| Markets | BMO InvestorLine | Firstrade |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Bonds | Yes | No |
| Funds | Yes | Yes |
How they place
| Ranking | BMO InvestorLine | Firstrade |
|---|---|---|
| Stock and ETF brokers | 43 of 490 | 38 of 490 |
| Options trading platforms | 13 of 103 | 10 of 103 |
| Low-fee brokers | 6 of 11 | 4 of 11 |
Every fact side by side
| Fact | BMO InvestorLine | Firstrade |
|---|---|---|
| Features | Mobile app, Options | Demo account, Options, Mobile app, Fractional sharesCovers more |
| Pricing model | Commission free | Commission free |
| Audience | Not confirmed | Beginners, Experienced, Day traders |
| Legal entity | Not confirmed | FIRSTRADE SECURITIES INC |
| Headquarters | Not confirmed | United States |
| Founded | 1988 | 1985Lower |
| Support channels | Phone, Chat | Phone, Help centre |
Where each stands against the rest
| Fact | BMO InvestorLine | Firstrade | 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 | Not confirmed | 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.
Firstrade
Pros
- Regulated in the US by FINRA and SIPC, with protection stated as SIPC up to USD 500,000 and a membership record at SIPC member 34642.
- A traditional IRA, a Roth IRA and a joint account all sit in ira, roth ira and joint under the commission-free pricing in commission free, so retirement and shared accounts hold at the same cost.
- Fractional shares and a demo account sit in demo account, options and mobile app, which helps the beginners and day traders named in beginners, experienced and day traders start small.
Cons
- The market list in stocks, etfs and options covers stocks, ETFs, options and funds, a narrow range next to eToro at stocks, etfs and forex and CFI at stocks, etfs and forex.
- Live chat and email are not among the listed support channels (phone and help centre), which pair a phone line with a help centre.
- An ISA and a SIPP are not among the listed account types (ira, roth ira and joint), which cover a traditional IRA, a Roth IRA and a joint account.
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%.
Firstrade
Who it suits
- US savers who want commission-free stock and ETF trading inside a retirement account, since the list in ira, roth ira and joint covers an IRA and a Roth IRA.
- Investors who trade in small amounts, because fractional shares in demo account, options and mobile app work alongside a $0 entry point.
- Day traders in US equities, named in beginners, experienced and day traders with a mobile app among the platforms in Web, iOS and Android.
Who should look elsewhere
- Traders who want forex, CFDs or crypto alongside equities: eToro lists stocks, etfs and forex and CFI lists stocks, etfs and forex, while Firstrade stays within stocks, etfs and options.
- UK and European savers who need a tax wrapper, since ira, roth ira and joint names no ISA or SIPP. Vantage, which sets $5 as its entry point, is worth pricing alongside.
Country by country
| Country | BMO InvestorLine | Firstrade |
|---|---|---|
| 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%.
Firstrade
What does it cost to trade stocks and options?+
Stock trades cost $0 and the options contract fee is $0, so nothing is charged per trade on either side. The pricing model listed is commission free, which matches that, and the same terms apply to stocks and options contracts. A reader comparing quotes will find the same line on both markets.
Are there account or inactivity fees?+
The account fee is $0 and the inactivity fee is $0, so an account can sit open and untouched without an annual charge or a dormant penalty. That suits a saver who funds a retirement account and does not trade every month, since holding a small balance costs nothing beyond the trades themselves.
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