Investing · Broker review
Scotia iTRADE review
The most improved big-bank broker: 200+ commission-free ETFs, free USD sides on registered accounts (the old $30/quarter fee now hits only RESPs), and the field’s best fixed-income pricing.
Best for: ETF-first and income investors who want big-bank custody with real USD-dividend economics
Pros
- 200+ commission-free ETFs — the biggest big-bank list, buys and sells
- Free USD side on every registered account except RESP, at mid-market rates — a major recent change
- “Buck a Bond” pricing ($1 per $1,000 face, $24.99 min) plus commission-free GICs
- All registered accounts exempt from the low-activity fee; TFSA and FHSA carry no annual fee at all
Cons
- $9.99 standard commissions ($4.99 only at 150+ trades/quarter)
- $65 charge on options assignments and exercises stings income strategies
- No fractional shares; estate processing runs $200
Who Scotia iTRADE is
iTRADE is a division of Scotia Capital — CIRO-regulated, CIPF member — and the big-bank broker that has changed most since the legacy comparisons were written. The headline: registered accounts now carry a free U.S.-dollar side (RRSP, TFSA, RRIF, LIRA — everything but RESP) settling at Scotia’s mid-market rate. The “U.S.-Friendly” $30/quarter program that reviewers still cite survives only for RESPs.
The premium web platform, Trade Pro (the artist formerly known as FlightDesk), brings streaming data and full options analytics; iClub tiers add margin discounts at higher asset levels.
The fees, plainly
Commissions are TD-shaped — $9.99, or $4.99 at 150+ trades/quarter — but the free-ETF list is twice as long at 200+, both buys and sells, which for an ETF investor effectively zeroes the commission question. Fixed income is the sleeper: $1 per $1,000 of face value ($24.99 minimum) and GICs at no commission, the cleanest bond pricing at any big bank.
Fee hygiene is genuinely good: the $25/quarter low-activity fee touches non-registered accounts only, every registered account is exempt, TFSAs and FHSAs carry no annual fee, and the RRSP/RRIF $100 annual fee waives at $25,000 or 12+ trades a year. Transfers in are free and Scotia credits up to $150 of the old broker’s exit fee (code SRPE15).
For retirees
The USD-registered change rewrites the retiree math: a RRIF full of US dividend payers now keeps its income in USD at mid-market — previously a $120/year program, now free. Add Buck-a-Bond for ladder builders and GICs at no commission, and iTRADE is quietly the best big-bank home for an income portfolio.
Two cautions: the $65 assignment/exercise fee makes covered-call writing expensive here, and estate processing is $200 (+$100 per certificate) — worth knowing in estate planning. Current offer: 1% back on external transfers up to $6,000 (SUM26, $2,500 minimum, by Aug 31, 2026).
Frequently asked questions
What does Scotia iTRADE charge to trade?
Stocks and ETFs: $9.99 ($4.99 at 150+ trades/quarter); 200+ commission-free ETFs (buys and sells). Options: $9.99/$4.99 + $1.25/contract; $65 on assignments and exercises. Account fees: $25/quarter low-activity fee on non-registered only — ALL registered accounts exempt; RRSP/RRIF/LIRA/LIF $100/yr under $25,000 (waived at 12+ trades/yr); TFSA and FHSA free. Figures verified at Scotia iTRADE's own pricing pages on June 10, 2026 — compare the whole field on our Best online brokers ranking.
Which registered accounts does Scotia iTRADE offer? Can it hold a RRIF?
RRSP, RRIF, TFSA, FHSA, RESP, LIRA, LIF. Yes — RRIF support means an RRSP here can convert at 71 and stay put, with no forced transfer at exactly the wrong moment. See the RRIF minimum calculator for what the drawdown schedule looks like.
Is my money safe at Scotia iTRADE?
Division of Scotia Capital Inc. — CIRO dealer, CIPF member. CIPF covers up to $1M for general accounts, plus $1M for registered retirement accounts combined, plus $1M for RESPs — against the firm failing, never against investments losing value. For cash deposits (a different regime), see the CDIC coverage planner.
The bottom line
The big-bank broker we’d point income-focused retirees to first: free USD registered sides, the longest free-ETF list, and bond pricing nobody else in the tier matches. Frequent options writers and sub-$25k accounts should still comparison-shop the full field.
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This review is for educational purposes only and is not investment advice. Commissions, FX rates, account fees and offers shown were verified at the broker's own published pricing on June 10, 2026 and change without notice. Our editorial rating reflects costs, account lineup, currency handling and service — it is never paid for. CIPF protects against member-firm insolvency, never market losses. Confirm current terms on the broker's site before opening an account. See our methodology.