My Review of BMO Investorline in Canada (July 2025)

My opinion on BMO Investorline

Last update: July 2, 2025

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3.9

Score

3.9

Score

P. LauroreFinance expert

BMO InvestorLine is a trusted, IIROC-regulated online broker backed by the Bank of Montreal, serving Canadian investors since 1988.
With no minimum deposit, a clear $9.95 flat commission on most trades, and access to Canadian and U.S. stocks, ETFs, mutual funds, and fixed income products, it stands out for its reliability and transparent pricing—though it lags behind some competitors on product diversity and trading tools.
The platform's focus on self-directed investing, supported by robust client protection through CIPF and a suite of user-friendly online and mobile platforms, makes it a top choice for Canadians seeking a traditional, secure, and straightforward trading experience.
BMO InvestorLine is best suited for those who prioritize strong regulation, established banking pedigree, and a simplified fee model over access to forex, CFD, or crypto trading.
(No Trustpilot score available)
In my experience, this broker is best suited to the following trader profiles:

➡️ Beginners will benefit from BMO InvestorLine’s intuitive platform, straightforward fee structure, no minimum deposit, and strong support, making it easy for new investors to get started with Canadian or U.S. stocks and ETFs.
➡️ Intermediate traders who want diversified long-term portfolios and access to advanced order types, margin accounts, and a broad range of account types—including registered and non-registered accounts—will find this broker well suited to their needs.
➡️ Advanced or high net-worth investors focused on traditional assets, seeking reliability, client protection, and dedicated support within Canada’s regulatory framework, will appreciate BMO InvestorLine’s integration with BMO’s full banking services and comprehensive fixed income offerings.

Pros

• ✅IIROC-regulated and backed by the Bank of Montreal, ensuring strong investor protection
• ✅No minimum deposit for self-directed accounts
• ✅Flat, transparent $9.95 commission per stock or ETF trade, with no hidden spreads
• ✅Access to a broad selection of Canadian and U.S. stocks, ETFs, mutual funds, bonds, GICs, and physical precious metals
• ✅Supports a range of registered (RRSP, TFSA, etc.) and non-registered account types
• ✅Margin accounts available with competitive leverage on eligible securities
• ✅User-friendly web and mobile trading platforms with real-time quotes and portfolio tools
• ✅Commission-free trading on select Canadian ETFs
• ✅Multiple secure funding and withdrawal options with no fees for electronic transfers
• ✅Responsive Canadian client support via phone, email, and secure messaging

Cons

• ❌No access to forex, CFD, or cryptocurrency trading
• ❌Does not support advanced trading features such as copy trading, algorithmic trading, or public demo accounts
• ❌Annual account administration fee applies unless minimum balance or trading activity is maintained
• ❌No Islamic (swap-free) accounts or specific crypto-related services (wallet, staking, lending)

Discover the broker

3.9

Score

3.9

Score

ProsCons

• ✅IIROC-regulated and backed by the Bank of Montreal, ensuring strong investor protection
• ✅No minimum deposit for self-directed accounts
• ✅Flat, transparent $9.95 commission per stock or ETF trade, with no hidden spreads
• ✅Access to a broad selection of Canadian and U.S. stocks, ETFs, mutual funds, bonds, GICs, and physical precious metals
• ✅Supports a range of registered (RRSP, TFSA, etc.) and non-registered account types
• ✅Margin accounts available with competitive leverage on eligible securities
• ✅User-friendly web and mobile trading platforms with real-time quotes and portfolio tools
• ✅Commission-free trading on select Canadian ETFs
• ✅Multiple secure funding and withdrawal options with no fees for electronic transfers
• ✅Responsive Canadian client support via phone, email, and secure messaging

My opinion on BMO Investorline

Last update: July 2, 2025

P. LauroreFinance expert

Pros

• ✅IIROC-regulated and backed by the Bank of Montreal, ensuring strong investor protection
• ✅No minimum deposit for self-directed accounts
• ✅Flat, transparent $9.95 commission per stock or ETF trade, with no hidden spreads
• ✅Access to a broad selection of Canadian and U.S. stocks, ETFs, mutual funds, bonds, GICs, and physical precious metals
• ✅Supports a range of registered (RRSP, TFSA, etc.) and non-registered account types
• ✅Margin accounts available with competitive leverage on eligible securities
• ✅User-friendly web and mobile trading platforms with real-time quotes and portfolio tools
• ✅Commission-free trading on select Canadian ETFs
• ✅Multiple secure funding and withdrawal options with no fees for electronic transfers
• ✅Responsive Canadian client support via phone, email, and secure messaging

Cons

• ❌No access to forex, CFD, or cryptocurrency trading
• ❌Does not support advanced trading features such as copy trading, algorithmic trading, or public demo accounts
• ❌Annual account administration fee applies unless minimum balance or trading activity is maintained
• ❌No Islamic (swap-free) accounts or specific crypto-related services (wallet, staking, lending)

Discover the broker

3.9

Score

3.9

Score

ProsCons

• ✅IIROC-regulated and backed by the Bank of Montreal, ensuring strong investor protection
• ✅No minimum deposit for self-directed accounts
• ✅Flat, transparent $9.95 commission per stock or ETF trade, with no hidden spreads
• ✅Access to a broad selection of Canadian and U.S. stocks, ETFs, mutual funds, bonds, GICs, and physical precious metals
• ✅Supports a range of registered (RRSP, TFSA, etc.) and non-registered account types
• ✅Margin accounts available with competitive leverage on eligible securities
• ✅User-friendly web and mobile trading platforms with real-time quotes and portfolio tools
• ✅Commission-free trading on select Canadian ETFs
• ✅Multiple secure funding and withdrawal options with no fees for electronic transfers
• ✅Responsive Canadian client support via phone, email, and secure messaging

BMO InvestorLine is a trusted, IIROC-regulated online broker backed by the Bank of Montreal, serving Canadian investors since 1988.
With no minimum deposit, a clear $9.95 flat commission on most trades, and access to Canadian and U.S. stocks, ETFs, mutual funds, and fixed income products, it stands out for its reliability and transparent pricing—though it lags behind some competitors on product diversity and trading tools.
The platform's focus on self-directed investing, supported by robust client protection through CIPF and a suite of user-friendly online and mobile platforms, makes it a top choice for Canadians seeking a traditional, secure, and straightforward trading experience.
BMO InvestorLine is best suited for those who prioritize strong regulation, established banking pedigree, and a simplified fee model over access to forex, CFD, or crypto trading.
(No Trustpilot score available)
In my experience, this broker is best suited to the following trader profiles:

➡️ Beginners will benefit from BMO InvestorLine’s intuitive platform, straightforward fee structure, no minimum deposit, and strong support, making it easy for new investors to get started with Canadian or U.S. stocks and ETFs.
➡️ Intermediate traders who want diversified long-term portfolios and access to advanced order types, margin accounts, and a broad range of account types—including registered and non-registered accounts—will find this broker well suited to their needs.
➡️ Advanced or high net-worth investors focused on traditional assets, seeking reliability, client protection, and dedicated support within Canada’s regulatory framework, will appreciate BMO InvestorLine’s integration with BMO’s full banking services and comprehensive fixed income offerings.

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Why trust Hellosafe?

I’ve spent time testing BMO Investorline myself, opening an account as a Canadian resident and actually placing trades through both the web and mobile platforms. I examined everything from the account setup, fees, and commission structure, to the usability of their research tools and the speed of order executions. I reached out to customer support to see how accessible and helpful they are in real-world scenarios.

My opinion is shaped by hands-on experience, not just company claims or advertisements. I compared BMO Investorline to other regulated Canadian brokers and also looked at how it stacks up against popular global platforms focused on crypto or CFDs. While BMO Investorline isn’t designed for active crypto or FX trading, its strengths in traditional stocks, ETFs, and registered accounts really stand out for long-term Canadian investors.

I share this perspective so you get an honest, experience-driven view of whether BMO Investorline is reliable and suitable for your needs, whether you’re a beginner or a seasoned investor. My goal is to highlight both the pros and the limitations in a way that’s clear, direct, and grounded in genuine use.

BMO Investorline at a Glance

Security & Regulation

BMO Investorline is a highly secure and trustworthy broker, benefitting from the oversight of IIROC and the financial strength of its parent, Bank of Montreal. I place strong confidence in the platform’s regulatory environment and adherence to Canadian investor protection rules, including CIPF membership, which ensures robust client asset protection up to $1 million per account.

Fund security is further enhanced by clear segregation of client assets and the backing of one of Canada’s top banks. The broker offers comprehensive risk controls for equity and ETF trading—such as stop and limit orders, margin management for eligible accounts, and reliable two-factor authentication—though it does not include advanced tools like negative balance protection or trading in leveraged derivatives.

BMO Investorline’s track record is among the best in Canada, having served a large retail and institutional base for decades. While the platform is not rated on Trustpilot, its reputation is well established among Canadian investors and industry observers. For those prioritizing safety, transparency, and regulatory pedigree—especially for stocks, ETFs, and classic investment vehicles—BMO Investorline is a particularly robust choice.

Fees, Spreads & Commissions

BMO Investorline’s pricing is a classic example of the Canadian bank-broker model: simple, predictable, and secure, but not the lowest-cost option for frequent traders. The standard commission of $9.95 per online trade on stocks and ETFs is transparent, but higher than the many new discount or commission-free options now appearing in the marketplace. For investors who make a few large trades or hold positions for the long term, this flat fee remains straightforward and manageable. For high-frequency or smaller-portfolio traders, however, these costs can add up quickly.

There are no hidden spreads, as all orders are routed to public exchanges at live market quotes with transparent execution. However, investors looking to trade in foreign currencies should be mindful of the 1.5% currency conversion fee—while typical among Canadian banks, it can erode returns for cross-border investing if not monitored. The $25/quarter maintenance fee is automatically waived given reasonable activity or balance, but it’s a key consideration for less active or low-balance accounts.

BMO Investorline does not offer CFDs, forex, or direct cryptocurrency trading. Exposure to alternative assets is instead enabled via select ETFs and mutual funds. For precious metals, commission structures on physical gold and silver are clearly published but have a relatively high minimum per transaction. Account setup, deposit, and withdrawals (by EFT) are generally free, although wire transfers incur a nominal fixed charge.

What are the account-related fees?

Expert advice

To reduce costs, avoid unnecessary currency conversions where possible, and ensure your balance or trading activity is above the maintenance-fee threshold. Use commission-free ETF options for passive investing, and plan larger transactions to minimize per-trade commission impact.

What are the fees on stocks and ETFs?

BMO Investorline applies a simple $9.95 commission on stock and ETF trades, with no hidden markup to the spread and no custody fee. Select Canadian ETFs are commission-free, allowing for fee-efficient passive investing, but only on a limited list. There are no overnight or maintenance costs on cash assets, and UK stamp duty only applies if buying UK shares—otherwise not charged.

What are the fees on cryptocurrencies?

Direct cryptocurrency trading is not supported on BMO Investorline. Any exposure to crypto is only possible through specialized ETFs or funds, where the cost is defined by the ETF’s management fee structure, not by BMO Investorline. There are no crypto custody, overnight, or transfer fees at the account level.

What are the fees on CFDs?

BMO Investorline does not offer CFDs or leveraged synthetic trading in any asset class. All trading is settled directly on listed stocks, ETFs, and mutual funds only.

Assets & Markets

BMO Investorline offers a comprehensive, traditional selection of Canadian and U.S. investment products. I value the platform’s deep access to spot stocks and ETFs across North American exchanges, supported by a robust set of account types including registered (RRSP, TFSA, RESP) and margin accounts. This is well-suited to Canadian investors focusing on long-term portfolio growth, diversification, and tax-advantaged strategies, particularly those prioritizing household financial planning and security under Canadian regulation.

The core strength lies in the breadth of listed equities and ETFs as well as strong access to mutual funds, GICs, and a variety of Canadian and global bonds. The platform’s physical gold and silver buying programs, in addition to ETF-based commodity exposure, provide further avenues for asset allocation. Order types are well rounded for the average investor, and the mobile and web platforms facilitate efficient account management.

BMO Investorline’s offering is limited for users seeking advanced or alternative markets. There is no access to spot forex, CFD products, or direct commodity, crypto, or derivatives trading. Crypto-assets are entirely unsupported—no direct or ETF-based crypto trading—and there are no facilities for staking, lending, stablecoins, or NFTs. Index and commodity trading are only possible indirectly through ETFs and mutual funds. Compared to specialized brokerage platforms, the absence of leveraged and speculative asset classes narrows the platform’s appeal for traders with more complex or high-frequency strategies.

I find the transparent pricing structure and straightforward integration with BMO’s broader banking infrastructure to be a positive for conservative or multi-account users. However, those looking to access global markets beyond North America, or modern digital assets, will need to combine BMO Investorline with other brokers for a more exhaustive product suite.

Trading Tools & Apps

BMO Investorline focuses on delivering a straightforward digital experience through its proprietary web platform and dedicated mobile app. The platform structure is designed for ease of use, making everyday account management and order placement accessible for self-directed investors. Navigation is intuitive, with clear menu systems and rapid switching between portfolio overviews, research, and trade execution screens. This design caters especially well to long-term investors and those who prioritize simplicity.

Order entry supports common order types, including market, limit, stop, stop-limit, day, GTC (good-till-cancelled), and conditional orders. Margin account holders can access additional sell-short capabilities on eligible securities. While this coverage meets the majority of needs for spot equity, ETF, and fixed income trading, the absence of more complex options—such as trailing stops, OCO (One Cancels Other), or bracket orders—may limit advanced strategy execution for active traders.

Charting capabilities provide all basic technical indicators and support interactive visual analysis directly in the platform. Key tools, such as trend lines, moving averages, and volume overlays, are available. However, the charting engine does not approach the depth of customization or real-time analytics available in specialist software like MetaTrader or TradingView. There is no direct integration with third-party charting platforms, and no scripting or algorithmic trading capabilities.

Automation and social trading options are not offered. BMO Investorline does not provide copy trading, bot or API access, nor crypto wallet functionality. Staking and direct crypto or commodity trading are also absent—though physical gold and silver can be bought through specific BMO programs, not as trading assets.

The combination of a clear UX, reliable execution, and direct access to major North American exchanges makes the platform well-suited for traditional investors seeking a transparent, Canadian-regulated broker. However, algorithmic, high-frequency, and multi-asset traders may find the environment too limiting for their requirements.

Tip

Take advantage of BMO Investorline’s built-in alerts and watchlist features to monitor changes in your investments or flagged securities. For deeper technical analysis, create model portfolios or run strategies externally in charting tools like TradingView, then use BMO Investorline to execute and track your actual trades for best-in-class Canadian security and reporting.

Account Opening and Deposits

Account opening

Opening an account with BMO Investorline begins with an online application, where you select your desired account type (self-directed, registered, non-registered, or margin) and provide personal details. The process requires uploading or presenting a government-issued photo ID, Social Insurance Number (SIN), and your employment and financial information to satisfy Canadian KYC standards. For certain account types (like registered or business accounts), expect requests for additional documentation.

Once you have submitted your application and the required documents, BMO Investorline will review your information. Most standard accounts are validated within 1–3 business days, though this can vary depending on regulatory checks or if clarification of information is needed. You will receive a confirmation email when your account is approved and ready for funding.

Good to know

Having your SIN, current ID, and a recent proof of address on hand streamlines the verification process. Peak periods or incomplete documentation can extend validation times, so double-check your application before submission.

Deposits and withdrawals on BMO Investorline

BMO Investorline supports deposits by Electronic Funds Transfer (EFT), bill payments from Canadian banks, cheque, or wire transfer. Funds sent via EFT or bill payment typically take 1–3 business days to reflect, while wire transfers may post sooner but can incur a fee. There is no minimum required deposit for self-directed accounts, and most deposit methods do not involve additional charges from BMO Investorline.

Withdrawals can be made through EFT directly to your linked Canadian bank account (free of charge), by wire transfer (a $10 fee applies), or by cheque. Most withdrawals are processed within 1–3 business days, though wire transfers can be same-day if initiated early. BMO Investorline does not support deposits, withdrawals, or wallets for cryptocurrencies or stablecoins. All funds must be transferred in Canadian or U.S. dollars; no e-wallet or card options are available.

Good to know

Double-check linked bank account details to ensure smooth withdrawals. EFTs are generally free and efficient for transfers within Canada. Consider potential bank processing times if you need quick access to funds.

Account Types

BMO Investorline is a leading Canadian online broker, focused on self-directed investing in stocks, ETFs, mutual funds, bonds, and GICs. It is not a CFD/forex broker or a crypto trading platform and does not provide leveraged, ECN, professional, or Islamic account types. Instead, its range covers standard, margin, and a comprehensive list of tax-advantaged accounts (such as RRSP, TFSA, and RESP), with accounts available in both CAD and USD. There are no demo or staking/cold storage options, as crypto services are not supported. The platform is designed for long-term investors and active self-directed traders who value stability, transparent fees, and Canadian regulatory oversight.

Trader Tip

If you’re investing in US stocks or ETFs regularly, consider opening a USD-denominated account on BMO Investorline to minimize currency conversion charges over time. For tax efficiency, compare registered account types like TFSA or RRSP to match your long-term financial goals.

Customer reviews

BMO Investorline does not have an official Trustpilot rating or number of reviews as of the latest check. However, based on available feedback from Canadian investor forums and brokerage review sites, general sentiment reflects both reliability and a few areas for improvement.

Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :

• Easy online account opening and variety of account options (including registered accounts)
• Solid regulatory reputation and security as part of BMO
• Access to a broad range of Canadian and US stocks, ETFs, mutual funds, and fixed income
• Intuitive web and mobile platforms with strong research and analysis tools
• Clear fee structure and no minimum deposit requirement

En revanche, plusieurs points négatifs sont régulièrement évoqués dans les avis :

• Flat trading commissions are on the higher side for occasional traders
• No support for direct forex, crypto, or CFD trading
• Limited advanced features for very active or professional traders
• No demo account available for new users
• Customer support can experience delays during busy periods

Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :

• K.B. – 02/03/2024 : “Account opening was straightforward and I appreciate the detailed research tools, but the $9.95 commission per trade adds up quickly.”
• J.R. – 14/05/2024 : “Good range of investment products for Canadian investors, but wish they offered a demo account for practice.”
• S.M. – 27/06/2024 : “Reliable and secure platform overall, but service wait times can be long during market volatility.”

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.