Scotiabank review

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

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Our verdict

Scotiabank suits Canadian clients who want a bank-run brokerage with a broad market list and a free minimum deposit, not investors chasing cheap trades. Stock trades cost CAD 9.99 each and the account fee is CAD 100, and withdrawals by wire carry Wire out CA$25.

Key facts

Best for
Canadian investors who want one bank for everyday money and self-directed investing
Minimum deposit
CA$0 (Source, checked September 26, 2026)
Stock trade fee
CA$9.99 (Source, checked September 26, 2026)
Account fee
CA$100 (Source, checked September 26, 2026)
Inactivity fee
CA$25 (Source, checked September 26, 2026)
Markets
Stocks, ETFs, Options, Bonds, Funds (Source, checked September 26, 2026)
Deposit and withdrawal fees
Wire out CA$25 (Source, checked September 26, 2026)
Platforms
Scotia iTRADE, Scotiabank app (Source, checked September 26, 2026)
Account types
Joint, Corporate (Source, checked September 26, 2026)
Legal entity
The Bank of Nova Scotia (Source, checked September 26, 2026)
Headquarters
Canada (Source, checked September 26, 2026)
Founded
1832 (Source, checked September 26, 2026)
Support channels
Phone, Help-centre (Source, checked September 26, 2026)
Features
Mobile app
Official website
scotiabank.com

Robo-advisors

Account types
Joint, Corporate (Source, checked September 26, 2026)
Portfolio types
ETF, Cash (Source, checked September 26, 2026)
Legal entity
The Bank of Nova Scotia (Source, checked September 26, 2026)
Headquarters
Canada (Source, checked September 26, 2026)
Founded
1832 (Source, checked September 26, 2026)
Support channels
Phone, Help-centre (Source, checked September 26, 2026)

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaLinkedInX

Pros and cons

Pros

  • No minimum to open, so an account can start at CAD 0
  • Covers stocks, etfs and options
  • Accounts can be opened as joint and corporate
  • Support runs on phone and help centre

Cons

  • An account fee of CAD 100 applies, where the site median is €0
  • An inactivity fee of CAD 25 applies
  • Each stock trade costs CAD 9.99, against a site median of €0
Scotiabank

Ready to try Scotiabank?

Scored 9.3 / 10 by BrokerCue.

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Who it suits

  • Canadian households keeping cash and investments at one bank
  • Investors who want stocks, etfs and options in one place
  • People who prefer phone help and a help centre over live chat

Who should look elsewhere

  • Traders who want low per-trade costs, where eToro charges $0
  • Anyone who wants to open with no floor at all, where CFI needs $0 and Vantage needs $5
  • Investors who trade often, since a stock trade fee of CAD 9.99 is charged each time

How Scotiabank compares

Frequently asked questions

What does it cost to open and run a Scotiabank account?+

Opening is free at CAD 0. Running it costs an account fee of CAD 100, and an inactivity fee of CAD 25 can apply, so a dormant balance is the expensive part. Compare that with a site median account fee of €0.

How much does a single stock trade cost?+

A stock trade costs CAD 9.99. The site median for a trade is €0, so costs here sit well above the middle of the market. Frequent trading adds up quickly on that basis.

Which markets can I trade through Scotiabank?+

The list covers stocks, etfs and options. That mix suits a long term investor building a portfolio across asset types rather than someone trading one instrument around the clock.

How do I withdraw money from the account?+

Withdrawing by wire carries Wire out CA$25. That cost applies on top of the account fee of CAD 100 and the inactivity fee of CAD 25, so holding a balance through inactivity is worth avoiding.

Which account types are available?+

Accounts can be held as joint and corporate, so shared and corporate holdings are both possible. Portfolio options run to etf and cash.

What platforms and apps can I use?+

Trading runs on Scotia iTRADE and Scotiabank app, and a mobile app is included. The account can therefore be managed from a phone or from a desktop platform, though features are limited to those listed.

How do I get help if something goes wrong?+

Support runs on phone and help centre, meaning phone lines and a help centre. There is no live chat listed, so a written question goes to the help centre and a spoken one to the phone line.

Is Scotiabank suitable for a Canadian investor starting small?+

The minimum deposit is CAD 0, so the entry point is open, and the legal entity is The Bank of Nova Scotia with headquarters in Canada. The account fee of CAD 100 is the part to weigh before funding a small balance.

How old is the company behind the brokerage?+

The company was founded in 1832 and operates as The Bank of Nova Scotia from CA. Age tells you little about your costs, so the fee figures matter more here.

Sources

Compiled from 8 source pages, checked September 26, 2026. We did not open an account.

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

Scotiabank

Scotiabank

Canadian investors who want one bank for everyday money and self-directed investing

9.3/10See alternatives

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