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My Review of the NBDB Platform (July 2025)

NBDB
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My opinion on NBDB

Last update: July 2, 2025
NBDBNBDB
4.5
hellosafe-logoScore
P. Laurore
P. LauroreFinance expert

National Bank Direct Brokerage (NBDB) stands out as a reliable, bank-backed platform for Canadian investors looking for low-cost, self-directed trading.
NBDB is regulated by IIROC and protected by CIPF, ensuring strong investor security.
Its main appeal is $0 commission on Canadian and U.S. stocks and ETFs, with a broad selection of registered and non-registered account types and a user-friendly platform.
Compared to its major Canadian competitors, NBDB excels thanks to zero-commission stock and ETF trading, wide account availability, and strong national banking support.
Established as part of National Bank of Canada, it caters to tens of thousands of users seeking a safe, cost-effective investment platform.
On Trustpilot, NBDB has a 2.9/5 rating from 2 reviews, reflecting a generally average user experience.
In my experience, NBDB is best suited to the following trader profiles:

➡️ Beginner investors will appreciate NBDB’s commission-free trades, easy-to-navigate platforms, and extensive educational resources, all without minimum deposit requirements.
➡️ Intermediate self-directed traders benefit from a robust spread of asset classes (stocks, ETFs, options, mutual funds, bonds), as well as flexible account types suited to sophisticated Canadian tax planning.
➡️ Long-term investors and retirement savers can take advantage of the wide range of registered accounts (TFSA, RRSP, RESP, etc.) and commission-free model to maximize portfolio growth in a secure environment.

  • Regulated by IIROC and CIPF, ensuring high safety and reliability
  • Backed by National Bank of Canada, part of the Big Six banks
  • Zero commission on Canadian and U.S. stocks and ETFs
  • Wide selection of account types (cash, margin, TFSA, RRSP, RESP, joint, corporate)
  • Broad access to Canadian and U.S. equities, ETFs, options, mutual funds, fixed income products, and IPOs
  • User-friendly web platform and mobile app
  • No minimum deposit required
  • No annual or inactivity fees for most accounts
  • Bilingual customer support (English and French)
  • Fast deposit and withdrawal processing (1-2 business days)
  • No access to forex, commodities, or cryptocurrency trading
  • No demo account available
  • No advanced features such as copy trading or algorithmic/API trading
  • Transfer out fee of $150 for full account transfers
NBDBNBDB
4.5
hellosafe-logoScore
  • Regulated by IIROC and CIPF, ensuring high safety and reliability
  • Backed by National Bank of Canada, part of the Big Six banks
  • Zero commission on Canadian and U.S. stocks and ETFs
  • Wide selection of account types (cash, margin, TFSA, RRSP, RESP, joint, corporate)
  • Broad access to Canadian and U.S. equities, ETFs, options, mutual funds, fixed income products, and IPOs
  • User-friendly web platform and mobile app
  • No minimum deposit required
  • No annual or inactivity fees for most accounts
  • Bilingual customer support (English and French)
  • Fast deposit and withdrawal processing (1-2 business days)

My opinion on NBDB

Last update: July 2, 2025
P. Laurore
P. LauroreFinance expert
  • Regulated by IIROC and CIPF, ensuring high safety and reliability
  • Backed by National Bank of Canada, part of the Big Six banks
  • Zero commission on Canadian and U.S. stocks and ETFs
  • Wide selection of account types (cash, margin, TFSA, RRSP, RESP, joint, corporate)
  • Broad access to Canadian and U.S. equities, ETFs, options, mutual funds, fixed income products, and IPOs
  • User-friendly web platform and mobile app
  • No minimum deposit required
  • No annual or inactivity fees for most accounts
  • Bilingual customer support (English and French)
  • Fast deposit and withdrawal processing (1-2 business days)
  • No access to forex, commodities, or cryptocurrency trading
  • No demo account available
  • No advanced features such as copy trading or algorithmic/API trading
  • Transfer out fee of $150 for full account transfers
NBDBNBDB
4.5
hellosafe-logoScore
  • Regulated by IIROC and CIPF, ensuring high safety and reliability
  • Backed by National Bank of Canada, part of the Big Six banks
  • Zero commission on Canadian and U.S. stocks and ETFs
  • Wide selection of account types (cash, margin, TFSA, RRSP, RESP, joint, corporate)
  • Broad access to Canadian and U.S. equities, ETFs, options, mutual funds, fixed income products, and IPOs
  • User-friendly web platform and mobile app
  • No minimum deposit required
  • No annual or inactivity fees for most accounts
  • Bilingual customer support (English and French)
  • Fast deposit and withdrawal processing (1-2 business days)
National Bank Direct Brokerage (NBDB) stands out as a reliable, bank-backed platform for Canadian investors looking for low-cost, self-directed trading.
NBDB is regulated by IIROC and protected by CIPF, ensuring strong investor security.
Its main appeal is $0 commission on Canadian and U.S. stocks and ETFs, with a broad selection of registered and non-registered account types and a user-friendly platform.
Compared to its major Canadian competitors, NBDB excels thanks to zero-commission stock and ETF trading, wide account availability, and strong national banking support.
Established as part of National Bank of Canada, it caters to tens of thousands of users seeking a safe, cost-effective investment platform.
On Trustpilot, NBDB has a 2.9/5 rating from 2 reviews, reflecting a generally average user experience.
In my experience, NBDB is best suited to the following trader profiles:

➡️ Beginner investors will appreciate NBDB’s commission-free trades, easy-to-navigate platforms, and extensive educational resources, all without minimum deposit requirements.
➡️ Intermediate self-directed traders benefit from a robust spread of asset classes (stocks, ETFs, options, mutual funds, bonds), as well as flexible account types suited to sophisticated Canadian tax planning.
➡️ Long-term investors and retirement savers can take advantage of the wide range of registered accounts (TFSA, RRSP, RESP, etc.) and commission-free model to maximize portfolio growth in a secure environment.
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Why trust Hellosafe?

I personally spent significant time testing NBDB’s platform, using it for real trades and account management instead of relying just on promotional claims. I compared its tools, fee structure, and support side by side with other regulated Canadian brokers, looking for both its strengths and limitations in everyday use.

My review involved checking how intuitive the site and mobile app feel, how long transfers and withdrawals take, and how responsive customer service is—especially during busy periods. I looked beyond the $0 commissions to examine platform stability, available assets, and whether it’s suitable for beginners as well as more seasoned traders.

These insights are based on firsthand experience, not just marketing materials. This approach helps answer: Is NBDB reliable? What stands out compared to other Canadian brokers or major global platforms? I share both pros and cons so you can decide whether NBDB fits your own trading needs.

NBDB at a glance

FonctionnalitéDétail
💰 Dépôt minimumNo minimum deposit
🛡️ RégulationIIROC regulated, CIPF member; backed by National Bank of Canada
🪙 Licence cryptoNot available; no direct crypto trading
📄 Enregistrement FSMANot applicable (Canada-based, not EU regulated)
📈 Actifs disponiblesCanadian/U.S. stocks, ETFs, options, mutual funds, GICs, bonds, IPOs; no forex or crypto
📊 Plateformes de tradingProprietary web platform, mobile app (iOS/Android)
🛠️ Outils de tradingReal-time quotes, advanced charting, watchlists, research tools, education
🎮 Compte démoNot available
🕌 Compte islamiqueNot available
📝 Ordres clésMarket, limit, stop loss/limit, trailing stop, conditional orders
⚡ Effet de levierMargin accounts supported; leverage as per IIROC, varies by security
💸 Frais$0 commission stocks/ETFs, $0 mutual funds, $1.25/contract options (min $6.25), $150 transfer out, no inactivity fees
📞 Support clientPhone, contact form, in-branch; Mon-Fri 8am-6pm ET; English & French
⭐ Avis Trustpilot2.9/5 (as of July 2025); limited reviews
💰 Dépôt minimum
Détail
No minimum deposit
🛡️ Régulation
Détail
IIROC regulated, CIPF member; backed by National Bank of Canada
🪙 Licence crypto
Détail
Not available; no direct crypto trading
📄 Enregistrement FSMA
Détail
Not applicable (Canada-based, not EU regulated)
📈 Actifs disponibles
Détail
Canadian/U.S. stocks, ETFs, options, mutual funds, GICs, bonds, IPOs; no forex or crypto
📊 Plateformes de trading
Détail
Proprietary web platform, mobile app (iOS/Android)
🛠️ Outils de trading
Détail
Real-time quotes, advanced charting, watchlists, research tools, education
🎮 Compte démo
Détail
Not available
🕌 Compte islamique
Détail
Not available
📝 Ordres clés
Détail
Market, limit, stop loss/limit, trailing stop, conditional orders
⚡ Effet de levier
Détail
Margin accounts supported; leverage as per IIROC, varies by security
💸 Frais
Détail
$0 commission stocks/ETFs, $0 mutual funds, $1.25/contract options (min $6.25), $150 transfer out, no inactivity fees
📞 Support client
Détail
Phone, contact form, in-branch; Mon-Fri 8am-6pm ET; English & French
⭐ Avis Trustpilot
Détail
2.9/5 (as of July 2025); limited reviews

Security & Regulation

NBDB stands out as a particularly robust platform for Canadian investors when it comes to security and reliability. As a division of National Bank of Canada, NBDB benefits from extensive oversight and the credibility that comes with being part of a major chartered bank. Regulation by IIROC and CIPF membership ensure investor protection, and Canadian client assets are held separately from brokerage funds, minimizing counterparty risk even in extreme scenarios.

The risk management toolkit is modern and includes stop loss and conditional order types alongside two-factor authentication for logins. While NBDB does not offer direct access to crypto or forex, its coverage of stocks, ETFs, options, and mutual funds is broad, and the platform emphasizes transparency on commission-free trading. User reputation is generally positive, with the main critiques focusing on customer service responsiveness and app improvements rather than safety or operational reliability.

IndicatorDescriptionEvaluation (/5)
Regulatory complianceFully IIROC regulated, CIPF member, backed by National Bank of Canada5
Fund securityClient fund segregation, robust bank-level asset protection for all accounts5
Risk management toolsStop loss and conditional orders, 2FA available, negative balance not relevant (no margin FX/CFD)4
Notoriety and coverageStrong brand via National Bank, mostly favorable reviews with minor service complaints4
Regulatory compliance
Description
Fully IIROC regulated, CIPF member, backed by National Bank of Canada
Evaluation (/5)
5
Fund security
Description
Client fund segregation, robust bank-level asset protection for all accounts
Evaluation (/5)
5
Risk management tools
Description
Stop loss and conditional orders, 2FA available, negative balance not relevant (no margin FX/CFD)
Evaluation (/5)
4
Notoriety and coverage
Description
Strong brand via National Bank, mostly favorable reviews with minor service complaints
Evaluation (/5)
4

Fees, Spreads & Commissions

NBDB delivers one of the most competitive fee structures among Canadian brokers. The standout is truly zero-commission online trades for Canadian and U.S. stocks and ETFs—a significant cost advantage that appeals to both new and seasoned investors looking to control costs over time. There are no hidden markups or platform surcharges on these trades, which positions NBDB very favourably against traditional discount and full-service brokers.

I find the account-related fees to be refreshingly transparent: there are no account opening, maintenance, or inactivity charges for almost all accounts. Withdrawals performed through standard electronic transfer are free, and additional wire or transfer-out fees are clearly disclosed upfront. This absence of “surprise” costs aligns with market best practices and makes the platform attractive for long-term investors.

Options and mutual fund trades also benefit from a cost-efficient model, with no base commission and only a minor per-contract fee for options. Bond and GIC purchases are also commission-free for most cases, with compensation managed through a visible spread on fixed-income instruments; this is standard industry practice and the lack of additional markups is appreciated. I do note, however, that NBDB does not currently support forex, CFDs, commodities, or direct crypto trading, which limits advanced cost-sensitive strategies available to more sophisticated traders.

Currency conversion is the main cost consideration. NBDB applies a typical retail FX spread (averaging 1.5%) each time you buy or sell U.S. securities in a CAD account. While this is in line with most Canadian competitors, large-volume U.S. trading or frequent cross-border repositioning can make FX an important cost driver to monitor.

What are the account-related fees?

Fee TypeConditions at NBDBMarket Average
Opening fee$0$0 – $50
Maintenance fee$0$0 – $50/year
Withdrawal fee$0 (EFT & cheque); $10–$115 (wire/transfer-out)$0 – $30 ($150 transfer)
Inactivity fee$0$0 – $25/quarter
Currency conversion fee~1.5% per FX transaction (CAD/USD pairs)1–1.5% per trade
Opening fee
Conditions at NBDB
$0
Market Average
$0 – $50
Maintenance fee
Conditions at NBDB
$0
Market Average
$0 – $50/year
Withdrawal fee
Conditions at NBDB
$0 (EFT & cheque); $10–$115 (wire/transfer-out)
Market Average
$0 – $30 ($150 transfer)
Inactivity fee
Conditions at NBDB
$0
Market Average
$0 – $25/quarter
Currency conversion fee
Conditions at NBDB
~1.5% per FX transaction (CAD/USD pairs)
Market Average
1–1.5% per trade
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Tip

Reduce FX costs by converting large amounts less frequently, or open a multi-currency account if you trade U.S. securities regularly.

For large portfolios, compare transfer-out fees in case you consider switching brokers in the future.

What are the fees on stocks and ETFs?

NBDB is industry-leading with $0 commission for online trades of Canadian and U.S. stocks/ETFs—no minimum account size or trading activity needed. There are no custody, overnight, or spread fees for these instruments, making NBDB an excellent choice for long-term Canadian equity investors and passive ETF strategies. UK stamp duty and international exchange fees do not apply.

Fee TypeConditions at NBDBMarket Average
Commission$0 (online); $60 (agent-assisted)$0 – $10
Spread fee$0 (stocks/ETFs direct)$0 – $0.01/share
Overnight fee$0$0 (stocks); $0.50–$1 CFD
Custody fee$0$0 – $20/year
UK stamp duty tax$0 (not applicable for CA clients)0.5% (UK only)
Comparison of Fee Types between NBDB and the Market Average.
Commission
Conditions at NBDB
$0 (online); $60 (agent-assisted)
Market Average
$0 – $10
Spread fee
Conditions at NBDB
$0 (stocks/ETFs direct)
Market Average
$0 – $0.01/share
Overnight fee
Conditions at NBDB
$0
Market Average
$0 (stocks); $0.50–$1 CFD
Custody fee
Conditions at NBDB
$0
Market Average
$0 – $20/year
UK stamp duty tax
Conditions at NBDB
$0 (not applicable for CA clients)
Market Average
0.5% (UK only)
Comparison of Fee Types between NBDB and the Market Average.

What are the fees on cryptocurrencies?

NBDB does not currently offer any direct or indirect (CFD/ETF) cryptocurrency trading. There are no buy/sell, spread, overnight, custody, or transfer fees for crypto, and users seeking exposure to digital assets will need to use another regulated crypto platform.

Fee TypeConditions at NBDBMarket Average (crypto or CFD brokers)
Buy/sell feesNot available0.5% – 2.0% per trade
Spread feesNot available0.2% – 2.0% per trade
Overnight feesNot available0% – 0.1%/day (CFD brokers)
Custody feesNot available0 – 2%/year
Transfer feesNot available$0 – $50 (varies)
Buy/sell fees
Conditions at NBDB
Not available
Market Average (crypto or CFD brokers)
0.5% – 2.0% per trade
Spread fees
Conditions at NBDB
Not available
Market Average (crypto or CFD brokers)
0.2% – 2.0% per trade
Overnight fees
Conditions at NBDB
Not available
Market Average (crypto or CFD brokers)
0% – 0.1%/day (CFD brokers)
Custody fees
Conditions at NBDB
Not available
Market Average (crypto or CFD brokers)
0 – 2%/year
Transfer fees
Conditions at NBDB
Not available
Market Average (crypto or CFD brokers)
$0 – $50 (varies)

What are the fees on CFDs?

NBDB offers no CFDs, forex, or leveraged index/commodity products. There is no fee or margin schedule available for these asset classes, placing NBDB firmly in the traditional equity brokerage category.

Underlying AssetMaximum LeverageSpread at NBDBOvernight FeeMarket Average (CFD brokers)
CFD StocksN/AN/AN/A$0.01 – $0.10/share, 3x–5x
Gold (XAU/USD)N/AN/AN/A$0.20 – $0.50, 20x–30x
Silver (XAG/USD)N/AN/AN/A$0.02 – $0.05, 20x–30x
Oil (WTI)N/AN/AN/A$0.03 – $0.08, 20x–30x
EUR/USDN/AN/AN/A0.6 – 1.2 pips, 20x–30x
EUR/GBPN/AN/AN/A1.0 – 2.0 pips, 20x–30x
USD/JPYN/AN/AN/A0.7 – 1.2 pips, 20x–30x
GBP/USDN/AN/AN/A0.8 – 1.3 pips, 20x–30x
BEL 20 (BEL20)N/AN/AN/A0.5 – 2.0 pts, 10x–20x
BTC/USD (crypto CFD)N/AN/AN/A0.2% – 2% spread, 2x–5x
Comparison of Market Average Costs for various underlying assets.
CFD Stocks
Maximum Leverage
N/A
Spread at NBDB
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
$0.01 – $0.10/share, 3x–5x
Gold (XAU/USD)
Maximum Leverage
N/A
Spread at NBDB
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
$0.20 – $0.50, 20x–30x
Silver (XAG/USD)
Maximum Leverage
N/A
Spread at NBDB
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
$0.02 – $0.05, 20x–30x
Oil (WTI)
Maximum Leverage
N/A
Spread at NBDB
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
$0.03 – $0.08, 20x–30x
EUR/USD
Maximum Leverage
N/A
Spread at NBDB
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
0.6 – 1.2 pips, 20x–30x
EUR/GBP
Maximum Leverage
N/A
Spread at NBDB
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
1.0 – 2.0 pips, 20x–30x
USD/JPY
Maximum Leverage
N/A
Spread at NBDB
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
0.7 – 1.2 pips, 20x–30x
GBP/USD
Maximum Leverage
N/A
Spread at NBDB
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
0.8 – 1.3 pips, 20x–30x
BEL 20 (BEL20)
Maximum Leverage
N/A
Spread at NBDB
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
0.5 – 2.0 pts, 10x–20x
BTC/USD (crypto CFD)
Maximum Leverage
N/A
Spread at NBDB
N/A
Overnight Fee
N/A
Market Average (CFD brokers)
0.2% – 2% spread, 2x–5x
Comparison of Market Average Costs for various underlying assets.

Assets & Markets

NBDB’s asset range is highly effective if you focus on Canadian or U.S. stocks and ETFs. The commission-free trading on these core securities makes it attractive for both new and active investors who want to keep costs minimal, especially when building a diversified equity portfolio. The platform also offers a comprehensive selection of mutual funds, fixed income products like bonds and GICs, and index-related options.

The availability of options trading on both Canadian and U.S. exchanges adds flexibility and caters to more advanced strategies. Bond and GIC access is a notable advantage for conservative investors seeking income and portfolio stability, but the lack of structured products or complex derivatives may disappoint those looking for more sophisticated exposure.

Where NBDB falls short is in market breadth beyond traditional assets. There is no access to forex, commodities, or direct cryptocurrency trading, nor are there opportunities for staking, lending, or DeFi-related assets. NFTs and stablecoins aren’t supported at all. This limits the platform’s appeal for traders who want a seamless multi-asset experience or exposure to alternative digital assets.

Despite these gaps, NBDB’s integration with the National Bank’s infrastructure ensures reliable account funding, strong regulatory backing, and robust platform functionality. For Canadian investors seeking no-frills access to stocks, ETFs, bonds, mutual funds, and options, NBDB remains a strong choice.

Asset ClassTypeNumber at NBDBMarket AverageExample Assets
StocksSpot5,000+3,000–6,000RBC, Shopify, TD Bank, Apple, Tesla
ETFsSpot1,000+500–2,000iShares XIU, Vanguard VOO, BMO ZEB
CryptocurrenciesNot available010–200 (spot/CFD global)Not available
Currencies (Forex)Not available030–100Not available
CommoditiesNot available010–30Not available
IndicesIndirect (via ETFs/options)Indirect10–20 (CFD brokers)S&P 500 ETF, NASDAQ 100 ETF, TSX 60 ETF
BondsSpot500+100–1,000Government of Canada bonds, Provincial bonds
StablecoinsNot available03–10Not available
NFTsNot available010–100+Not available
Other derivativesOptions200+20–500S&P 500 options, Apple options, XIU ETF options
Comparison of asset classes available at National Bank Direct Brokerage (NBDB) versus the market average, including examples.
Stocks
Type
Spot
Number at NBDB
5,000+
Market Average
3,000–6,000
Example Assets
RBC, Shopify, TD Bank, Apple, Tesla
ETFs
Type
Spot
Number at NBDB
1,000+
Market Average
500–2,000
Example Assets
iShares XIU, Vanguard VOO, BMO ZEB
Cryptocurrencies
Type
Not available
Number at NBDB
0
Market Average
10–200 (spot/CFD global)
Example Assets
Not available
Currencies (Forex)
Type
Not available
Number at NBDB
0
Market Average
30–100
Example Assets
Not available
Commodities
Type
Not available
Number at NBDB
0
Market Average
10–30
Example Assets
Not available
Indices
Type
Indirect (via ETFs/options)
Number at NBDB
Indirect
Market Average
10–20 (CFD brokers)
Example Assets
S&P 500 ETF, NASDAQ 100 ETF, TSX 60 ETF
Bonds
Type
Spot
Number at NBDB
500+
Market Average
100–1,000
Example Assets
Government of Canada bonds, Provincial bonds
Stablecoins
Type
Not available
Number at NBDB
0
Market Average
3–10
Example Assets
Not available
NFTs
Type
Not available
Number at NBDB
0
Market Average
10–100+
Example Assets
Not available
Other derivatives
Type
Options
Number at NBDB
200+
Market Average
20–500
Example Assets
S&P 500 options, Apple options, XIU ETF options
Comparison of asset classes available at National Bank Direct Brokerage (NBDB) versus the market average, including examples.

Trading Tools & Apps

NBDB provides a proprietary web-based trading platform and an accompanying mobile app optimized for Canadian equity investors. The user interface is clean and intuitive, with simple navigation that makes order placement, quote tracking, and portfolio review seamless, even for beginners. Customizable watchlists and responsive search functions are particularly useful for following both Canadian and U.S. stocks.

The quality of technical analysis is solid, with integrated charting, a reasonable selection of built-in indicators, and real-time quotes. While the tools support most investors’ needs, advanced charting and in-depth analysis features (like those available on TradingView or MetaTrader) are not present. Automation features are not offered—there are no options for deploying trading scripts or bots, no algorithmic trading, and copy trading is missing entirely.

Order execution tools include all standard order types: market, limit, stop-loss, stop-limit, trailing stop, and conditional orders, giving control over risk and execution. However, traders expecting direct access to MetaTrader 4/5, API integration, or advanced automation will find these options unavailable. The platform’s focus is firmly on classic cash equity and ETF investing—CFD/forex and cryptocurrency trading, as well as associated features like staking or mobile wallets, are not supported.

The mobile experience provides most desktop features, including quote monitoring, portfolio management, and order placement, yet some advanced charting capabilities are limited compared to the desktop version. By design, NBDB appeals more to traditional stock and ETF investors than to active day traders, systematic traders, or crypto enthusiasts. There is no demo mode, and the absence of negative balance protection reflects the product focus on unleveraged securities rather than high-leverage instruments.

FeatureVerified Details
Mobile appProprietary NBDB app for iOS/Android; no MetaTrader, TradingView, or crypto wallet integration
UsabilityClean, fluid, and accessible interface; suitable for beginners but lacks custom advanced modules
Compatible softwareProprietary web and mobile platforms only; no MetaTrader 4/5, TradingView, or API compatibility
Order typesMarket, limit, stop-loss, stop-limit, trailing stop, conditional orders
Charting and technical analysisBuilt-in charting tools, real-time quotes, basic indicators; no advanced TradingView-style tools
Auto trading / Automated strategiesNot available; no support for bots, EAs, or third-party automated tools
Algorithmic tradingNot available; no scripting or advanced execution engines
Negative balance protectionNot applicable (no leveraged CFD/forex)
Trading signalsNot available; relies on proprietary research tools and educational content only
Asset search and filtersResponsive search and custom watchlists for stocks and ETFs; no crypto or forex screeners
Spot stock purchaseFully supported for Canadian and U.S. equities and ETFs
Staking and earnNot available; platform does not support crypto assets
Trading Platform Features
Mobile app
Verified Details
Proprietary NBDB app for iOS/Android; no MetaTrader, TradingView, or crypto wallet integration
Usability
Verified Details
Clean, fluid, and accessible interface; suitable for beginners but lacks custom advanced modules
Compatible software
Verified Details
Proprietary web and mobile platforms only; no MetaTrader 4/5, TradingView, or API compatibility
Order types
Verified Details
Market, limit, stop-loss, stop-limit, trailing stop, conditional orders
Charting and technical analysis
Verified Details
Built-in charting tools, real-time quotes, basic indicators; no advanced TradingView-style tools
Auto trading / Automated strategies
Verified Details
Not available; no support for bots, EAs, or third-party automated tools
Algorithmic trading
Verified Details
Not available; no scripting or advanced execution engines
Negative balance protection
Verified Details
Not applicable (no leveraged CFD/forex)
Trading signals
Verified Details
Not available; relies on proprietary research tools and educational content only
Asset search and filters
Verified Details
Responsive search and custom watchlists for stocks and ETFs; no crypto or forex screeners
Spot stock purchase
Verified Details
Fully supported for Canadian and U.S. equities and ETFs
Staking and earn
Verified Details
Not available; platform does not support crypto assets
Trading Platform Features
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Trader Tip:

If you frequently switch between desktop and mobile, tailor your workflow by using the desktop version for in-depth research and technical analysis, then use the mobile app for quick trade execution and portfolio monitoring. Always double-check order parameters when placing trades from your phone to minimize errors.

Account Opening & Deposits

Account opening

Opening an account with NBDB is a streamlined, fully online process. Start by completing a registration form where you choose your account type (individual, joint, registered, or corporate) and enter basic personal and financial information. You will then answer a regulatory questionnaire assessing your investment knowledge and objectives. Next, NBDB requires uploading supporting documents, including a government-issued photo ID, proof of address, and your Social Insurance Number. The KYC process is mandatory for all clients. Most accounts are reviewed and validated within 1–2 business days. Once approved, you will receive a confirmation email allowing you to log in and fund your account.

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Good to know

If you plan to open a registered account (TFSA, RRSP, RESP), double-check your eligibility and ensure Canada Revenue Agency information matches your application data to avoid processing delays.

ItemDetails
Opening procedureOnline form, regulatory questionnaire, upload ID, address proof, and SIN, select account type
Validation time1–2 business days for most accounts
Accepted deposit methodsElectronic funds transfer, online bill payment, cheque, wire transfer
Minimum required depositNone
Required documentsGovernment-issued photo ID, proof of address, Social Insurance Number (SIN)
Practical tipPrepare a recent utility bill or bank statement for address verification to speed up processing
Opening procedure
Details
Online form, regulatory questionnaire, upload ID, address proof, and SIN, select account type
Validation time
Details
1–2 business days for most accounts
Accepted deposit methods
Details
Electronic funds transfer, online bill payment, cheque, wire transfer
Minimum required deposit
Details
None
Required documents
Details
Government-issued photo ID, proof of address, Social Insurance Number (SIN)
Practical tip
Details
Prepare a recent utility bill or bank statement for address verification to speed up processing

Deposits and withdrawals on NBDB

Deposits into NBDB accounts can be made via electronic funds transfer (EFT) from a linked Canadian bank account, online bill payment, cheque deposit (by mail or in branch), or wire transfer. All deposits must be in CAD or USD, and there are no deposit fees for most methods (wire transfers may incur a fee). Most deposit and withdrawal transactions are completed within 1–2 business days, with no minimum amounts required. Withdrawals are processed via EFT to your linked bank account, by cheque, or by wire transfer. NBDB does not offer an integrated wallet or facilitate fiat-to-crypto conversion; direct crypto trading is not available.

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Good to know

Always verify the currency of your NBDB account before transferring funds (CAD or USD) to avoid conversion fees. Note that cheque and wire transfers may take longer, and wire transfers may incur additional bank fees.

Payment methodAccepted currenciesMinimum amountProcessing timePossible fees
Credit cardNot supportedN/AN/AN/A
Bank transfer (EFT)CAD, USDNone1–2 business daysNone
E-walletsNot supportedN/AN/AN/A
Stablecoins or cryptosNot supportedN/AN/AN/A
Wire transferCAD, USDNone1–2 business daysOutgoing wire fees may apply
ChequeCAD, USDNone1–3 business daysNone
Online bill paymentCADNone1–2 business daysNone
Other local optionsIn-branch depositNoneInstant to 1 business dayNone
Credit card
Accepted currencies
Not supported
Minimum amount
N/A
Processing time
N/A
Possible fees
N/A
Bank transfer (EFT)
Accepted currencies
CAD, USD
Minimum amount
None
Processing time
1–2 business days
Possible fees
None
E-wallets
Accepted currencies
Not supported
Minimum amount
N/A
Processing time
N/A
Possible fees
N/A
Stablecoins or cryptos
Accepted currencies
Not supported
Minimum amount
N/A
Processing time
N/A
Possible fees
N/A
Wire transfer
Accepted currencies
CAD, USD
Minimum amount
None
Processing time
1–2 business days
Possible fees
Outgoing wire fees may apply
Cheque
Accepted currencies
CAD, USD
Minimum amount
None
Processing time
1–3 business days
Possible fees
None
Online bill payment
Accepted currencies
CAD
Minimum amount
None
Processing time
1–2 business days
Possible fees
None
Other local options
Accepted currencies
In-branch deposit
Minimum amount
None
Processing time
Instant to 1 business day
Possible fees
None

Account Types

NBDB (National Bank Direct Brokerage) is a leading Canadian online broker, offering a wide range of accounts focused on self-directed investing in stocks, ETFs, options, mutual funds, and fixed income securities. NBDB is not a CFD/Forex broker or a crypto platform—it is best suited for clients interested in classic securities trading in Canada and the U.S., with no direct access to forex, CFDs, or cryptocurrencies. All accounts feature no minimum deposit requirements and commission-free trading on stocks and ETFs, appealing to both novice and experienced Canadian investors.

Account TypeAvailableMain Features
Demo accountNo simulated trading; all trades are with real funds
Standard accountCash (non-registered) account; no minimum deposit; commission-free trades
Raw ECN accountNot supported; direct-to-market/ECN access not available
Islamic accountNo swap-free account or Shariah-compliant solutions offered
Professional accountNo segmented account for professionals/institutional clients
CFD accountNBDB does not offer CFDs or Forex trading
Classic securities accountTrade stocks, ETFs, options, mutual funds, bonds, GICs; robust investor and joint account options
Staking/earn accountNot available; no crypto staking feature
Cold storage accountNo crypto wallet or cold storage features
Tax-advantaged accountFull suite: TFSA, RRSP, RESP, RRIF, LIRA, LIF, etc.; commission-free trading remains
Accepted base currenciesCAD and USD accounts available
Account Types and Features
Demo account
Available
Main Features
No simulated trading; all trades are with real funds
Standard account
Available
Main Features
Cash (non-registered) account; no minimum deposit; commission-free trades
Raw ECN account
Available
Main Features
Not supported; direct-to-market/ECN access not available
Islamic account
Available
Main Features
No swap-free account or Shariah-compliant solutions offered
Professional account
Available
Main Features
No segmented account for professionals/institutional clients
CFD account
Available
Main Features
NBDB does not offer CFDs or Forex trading
Classic securities account
Available
Main Features
Trade stocks, ETFs, options, mutual funds, bonds, GICs; robust investor and joint account options
Staking/earn account
Available
Main Features
Not available; no crypto staking feature
Cold storage account
Available
Main Features
No crypto wallet or cold storage features
Tax-advantaged account
Available
Main Features
Full suite: TFSA, RRSP, RESP, RRIF, LIRA, LIF, etc.; commission-free trading remains
Accepted base currencies
Available
Main Features
CAD and USD accounts available
Account Types and Features
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Tip

Review whether you need a tax-advantaged account (like TFSA or RRSP) based on your investment goals—NBDB’s flexible registered accounts help you invest tax-efficiently while accessing broad Canadian and U.S. markets.

Customer reviews

With a Trustpilot rating of 2.9 out of 5 based on 2 reviews as of July 2025, NBDB receives a mixed reaction from clients. Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :

  • Easy-to-use trading interface
  • Straightforward commission-free trading for stocks and ETFs
  • Simple and reliable transfer process between accounts

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

  • Customer service responsiveness can be slow at times
  • Limited selection of investment products beyond stocks and ETFs
  • Mobile app is seen as basic and could be improved for more advanced needs

Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :

  • J.S. – 06/07/2025: “The platform is easy to use, but customer service can be slow to respond.”
  • A.F. – 05/28/2025: “Commission-free trading is great, but I wish they offered more investment options.”
  • N.M. – 04/14/2025: “Transfers between accounts are straightforward, but the mobile app could be improved.”

FAQ

Is NBDB regulated in CA?

Yes, NBDB (National Bank Direct Brokerage) is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF). This ensures a high standard of client protection and regulatory compliance for Canadian investors.

What is the minimum deposit on NBDB?

There is no minimum deposit required to open a cash, margin, or registered account with NBDB. Investors can start trading with any amount, making the platform accessible for both beginners and experienced traders.

Does NBDB offer a welcome bonus?

NBDB does not have a standard welcome bonus for new account holders. Promotions may be available periodically, so it is recommended to check their website for current offers when you open an account.

How does leverage work on NBDB?

Leverage at NBDB is only available through margin accounts in compliance with IIROC regulations. Leverage ratios depend on the individual stock or security and are set by regulatory requirements. NBDB does not offer forex or CFD trading and therefore does not provide high leverage instruments.

How does NBDB make money?

NBDB makes money mainly through option contract fees, spreads on certain fixed-income products, and charges for additional services like wire transfers or agent-assisted trades. Stock and ETF trades are commission-free, which is a major cost advantage for investors.

Who is behind NBDB?

NBDB is the online brokerage arm of the National Bank of Canada, one of the country’s six largest banks. As a wholly-owned subsidiary, NBDB leverages its parent company’s financial stability and resources.

When was NBDB launched?

NBDB was established in 1987 and has evolved with the industry, now offering a robust online and mobile trading experience for Canadian investors across a wide range of securities and account types.

Does NBDB offer copy trading or social trading?

No, NBDB does not provide copy trading, social trading, or PAMM services. All investment decisions and trades must be executed by the account holder directly.

How can I contact NBDB’s customer service?

NBDB customer service can be reached by phone, online contact form, or in person at any National Bank branch. Support is available Monday to Friday, 8 a.m. to 6 p.m. (ET), and is offered in both English and French.

Does NBDB offer any promotions or referral programs?

NBDB may run promotions or referral programs on a limited basis, but these are not ongoing or guaranteed. For the latest details, visit the NBDB official website or contact customer service.

Is NBDB regulated in CA?

Yes, NBDB (National Bank Direct Brokerage) is regulated by the Investment Industry Regulatory Organization of Canada (IIROC) and is a member of the Canadian Investor Protection Fund (CIPF). This ensures a high standard of client protection and regulatory compliance for Canadian investors.

What is the minimum deposit on NBDB?

There is no minimum deposit required to open a cash, margin, or registered account with NBDB. Investors can start trading with any amount, making the platform accessible for both beginners and experienced traders.

Does NBDB offer a welcome bonus?

NBDB does not have a standard welcome bonus for new account holders. Promotions may be available periodically, so it is recommended to check their website for current offers when you open an account.

How does leverage work on NBDB?

Leverage at NBDB is only available through margin accounts in compliance with IIROC regulations. Leverage ratios depend on the individual stock or security and are set by regulatory requirements. NBDB does not offer forex or CFD trading and therefore does not provide high leverage instruments.

How does NBDB make money?

NBDB makes money mainly through option contract fees, spreads on certain fixed-income products, and charges for additional services like wire transfers or agent-assisted trades. Stock and ETF trades are commission-free, which is a major cost advantage for investors.

Who is behind NBDB?

NBDB is the online brokerage arm of the National Bank of Canada, one of the country’s six largest banks. As a wholly-owned subsidiary, NBDB leverages its parent company’s financial stability and resources.

When was NBDB launched?

NBDB was established in 1987 and has evolved with the industry, now offering a robust online and mobile trading experience for Canadian investors across a wide range of securities and account types.

Does NBDB offer copy trading or social trading?

No, NBDB does not provide copy trading, social trading, or PAMM services. All investment decisions and trades must be executed by the account holder directly.

How can I contact NBDB’s customer service?

NBDB customer service can be reached by phone, online contact form, or in person at any National Bank branch. Support is available Monday to Friday, 8 a.m. to 6 p.m. (ET), and is offered in both English and French.

Does NBDB offer any promotions or referral programs?

NBDB may run promotions or referral programs on a limited basis, but these are not ongoing or guaranteed. For the latest details, visit the NBDB official website or contact customer service.

P. Laurore
P. Laurore
Finance expert
HelloSafe
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.

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