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Zero-Commission Fight Reaches Canada as National Bank Ends Fees

  • It’s the first Canadian bank-affiliated brokerage to nix fees
  • Online platform Wealthsimple offers commission-free trades
A National Bank Of Canada Branch Ahead Of Earnings Figures
Photographer: Ben Nelms/Bloomberg

The move to commission-free trading that’s swept through U.S. discount brokerages over the past two years may finally be making its way north of the border.

National Bank of Canada, the country’s sixth-largest bank by assets, announced Monday that it’s eliminating commissions on online trades of Canadian and U.S. stocks as well as exchange-traded funds through its direct brokerage. That would make it the first direct brokerage affiliated with a Canadian bank to do so.