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BMO InvestorLine Eliminates Commissions on Stocks and ETFs to Boost Digital Growth
Finance · Major Banks · bnn_bloomberg · 2026-09-09
BMO InvestorLine is removing trading commissions and account fees for self-directed investors to compete with digital-first platforms like Wealthsimple.
What Happened
Strategic Shift: BMO InvestorLine has announced the removal of all trading commissions for stocks and exchange-traded funds. This initiative marks the first time a major Canadian bank-owned brokerage has adopted a zero-commission model for its self-directed platform.
Fee Reductions: Beyond eliminating stock and ETF trading costs, the firm is also removing account administration fees. Additionally, the brokerage is lowering expenses associated with options trading by cutting contract fees and eliminating related commissions.
Competitive Landscape: The decision arrives as traditional financial institutions face mounting pressure from agile, digital-native competitors. Wealthsimple, a prominent upstart in the Canadian market, has already established a strong user base by offering commission-free trading across various asset classes.
Implementation Timeline: These comprehensive changes to the fee structure are scheduled to take effect on September 14. By streamlining its cost model, BMO aims to strengthen its position in the digital investing space and attract a broader demographic of retail investors.