Scotia iTrade Review Canada: Is It Worth It in 2025?

My opinion on Scotia iTrade

Last update: July 25, 2025

Discover the broker

3.2

Score

3.2

Score

P. Laurore

Finance expert

Scotia iTrade is a reputable Canadian online broker established in 2009, operated by Scotiabank and regulated by CIRO, offering robust investor protection and a solid track record for reliability.
Scotia iTrade stands out for its integration with Scotiabank’s banking services, variety of registered account options (TFSA, RRSP, RESP, etc.), and access to a broad range of traditional assets such as stocks, ETFs, options, mutual funds, and fixed income, but does not provide direct access to CFDs, forex, or spot crypto trading.
While its advanced platforms (including FlightDesk) and demo accounts cater to a range of clients, Scotia iTrade’s standard commission fees ($9.99/trade) are higher than many main competitors and it charges inactivity and withdrawal fees, which limits its appeal to price-sensitive and active traders.
Relative to other Canadian brokers, Scotia iTrade is best suited for security-minded investors who want integrated banking, reliable support, and registered account access, but its limited asset offering and higher fees are notable drawbacks.
Scotia iTrade does not currently have a Trustpilot rating with over 100 reviews.
In my experience, Scotia iTrade is best suited for these types of traders:

➡️ Conservative, long-term investors: Scotia iTrade is well suited to investors focused on wealth preservation, retirement planning, and registered accounts like TFSA, RRSP, or RESP. Its access to traditional asset classes (stocks, ETFs, mutual funds, fixed income) supports buy-and-hold strategies with institutional backing.

➡️ Existing Scotiabank clients: For users already banking with Scotiabank, iTrade offers seamless integration across banking and investment services, facilitating account funding, portfolio oversight, and consolidated financial management.

➡️ Beginner to intermediate investors valuing security: Scotia iTrade’s solid CIRO regulation, bank-level protection (CIPF), and responsive support make it a reliable option for those who prioritize safety and structured investment tools over low-cost or high-frequency trading.

Pros

• ✅Zero minimum deposit for most accounts, making it accessible for new investors
• ✅Wide selection of traditional Canadian and U.S. stocks, ETFs, mutual funds, options, and fixed income products
• ✅Registered accounts supported, including TFSA, RRSP, RESP, LIRA, and more
• ✅Strong regulatory protection as a CIRO-regulated and CIPF member broker
• ✅Integrated banking and investing features for Scotiabank clients
• ✅Advanced desktop trading platform (FlightDesk) and web/mobile trading
• ✅Comprehensive research tools, real-time quotes, and third-party market analysis
• ✅Practice/demo accounts available for equities, options, and mutual funds
• ✅Robust Canadian customer support during business hours

Cons

• ❌No direct trading of CFDs, spot forex, or cryptocurrencies
• ❌High standard trading commission ($9.99/trade) compared to peers
• ❌Inactivity fee of $25/quarter for accounts under $10,000 with no trades
• ❌Withdrawal fees apply for cheques and wire transfers
• ❌No Islamic (swap-free) account option
• ❌No copy trading, social trading, or advanced automation/APIs
• ❌No access to leverage beyond standard margin for eligible equities
• ❌No access to crypto-specific features (staking, earn, lending, integrated wallet)

Discover the broker

3.2

Score

3.2

Score

ProsCons

• ✅Zero minimum deposit for most accounts, making it accessible for new investors
• ✅Wide selection of traditional Canadian and U.S. stocks, ETFs, mutual funds, options, and fixed income products
• ✅Registered accounts supported, including TFSA, RRSP, RESP, LIRA, and more
• ✅Strong regulatory protection as a CIRO-regulated and CIPF member broker
• ✅Integrated banking and investing features for Scotiabank clients
• ✅Advanced desktop trading platform (FlightDesk) and web/mobile trading
• ✅Comprehensive research tools, real-time quotes, and third-party market analysis
• ✅Practice/demo accounts available for equities, options, and mutual funds
• ✅Robust Canadian customer support during business hours

My opinion on Scotia iTrade

Last update: July 25, 2025

P. Laurore

Finance expert

Pros

• ✅Zero minimum deposit for most accounts, making it accessible for new investors
• ✅Wide selection of traditional Canadian and U.S. stocks, ETFs, mutual funds, options, and fixed income products
• ✅Registered accounts supported, including TFSA, RRSP, RESP, LIRA, and more
• ✅Strong regulatory protection as a CIRO-regulated and CIPF member broker
• ✅Integrated banking and investing features for Scotiabank clients
• ✅Advanced desktop trading platform (FlightDesk) and web/mobile trading
• ✅Comprehensive research tools, real-time quotes, and third-party market analysis
• ✅Practice/demo accounts available for equities, options, and mutual funds
• ✅Robust Canadian customer support during business hours

Cons

• ❌No direct trading of CFDs, spot forex, or cryptocurrencies
• ❌High standard trading commission ($9.99/trade) compared to peers
• ❌Inactivity fee of $25/quarter for accounts under $10,000 with no trades
• ❌Withdrawal fees apply for cheques and wire transfers
• ❌No Islamic (swap-free) account option
• ❌No copy trading, social trading, or advanced automation/APIs
• ❌No access to leverage beyond standard margin for eligible equities
• ❌No access to crypto-specific features (staking, earn, lending, integrated wallet)

Discover the broker

3.2

Score

3.2

Score

ProsCons

• ✅Zero minimum deposit for most accounts, making it accessible for new investors
• ✅Wide selection of traditional Canadian and U.S. stocks, ETFs, mutual funds, options, and fixed income products
• ✅Registered accounts supported, including TFSA, RRSP, RESP, LIRA, and more
• ✅Strong regulatory protection as a CIRO-regulated and CIPF member broker
• ✅Integrated banking and investing features for Scotiabank clients
• ✅Advanced desktop trading platform (FlightDesk) and web/mobile trading
• ✅Comprehensive research tools, real-time quotes, and third-party market analysis
• ✅Practice/demo accounts available for equities, options, and mutual funds
• ✅Robust Canadian customer support during business hours

Scotia iTrade is a reputable Canadian online broker established in 2009, operated by Scotiabank and regulated by CIRO, offering robust investor protection and a solid track record for reliability.
Scotia iTrade stands out for its integration with Scotiabank’s banking services, variety of registered account options (TFSA, RRSP, RESP, etc.), and access to a broad range of traditional assets such as stocks, ETFs, options, mutual funds, and fixed income, but does not provide direct access to CFDs, forex, or spot crypto trading.
While its advanced platforms (including FlightDesk) and demo accounts cater to a range of clients, Scotia iTrade’s standard commission fees ($9.99/trade) are higher than many main competitors and it charges inactivity and withdrawal fees, which limits its appeal to price-sensitive and active traders.
Relative to other Canadian brokers, Scotia iTrade is best suited for security-minded investors who want integrated banking, reliable support, and registered account access, but its limited asset offering and higher fees are notable drawbacks.
Scotia iTrade does not currently have a Trustpilot rating with over 100 reviews.
In my experience, Scotia iTrade is best suited for these types of traders: ➡️ Conservative, long-term investors: Scotia iTrade is well suited to investors focused on wealth preservation, retirement planning, and registered accounts like TFSA, RRSP, or RESP. Its access to traditional asset classes (stocks, ETFs, mutual funds, fixed income) supports buy-and-hold strategies with institutional backing. ➡️ Existing Scotiabank clients: For users already banking with Scotiabank, iTrade offers seamless integration across banking and investment services, facilitating account funding, portfolio oversight, and consolidated financial management. ➡️ Beginner to intermediate investors valuing security: Scotia iTrade’s solid CIRO regulation, bank-level protection (CIPF), and responsive support make it a reliable option for those who prioritize safety and structured investment tools over low-cost or high-frequency trading.

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Why trust Hellosafe?

I spent real time opening, funding, and actively trading with Scotia iTrade to see how it performs in the real world for Canadians—not just what’s on the surface. I tested core tools on both the web and the mobile app, made trades in stocks and ETFs, and explored the advanced FlightDesk desktop platform to understand the features and charting experience. I watched for how easy it was to navigate, place orders, and what sort of educational content and research tools were available.

In my direct use, Scotia iTrade stood out for its secure integration with Scotiabank banking, a strong selection of registered accounts (TFSA, RRSP, etc.), and the comfort of a well-known Canadian bank. That said, I felt the $9.99 per trade commission is on the pricey side compared to online and fintech competitors, and while the demo account is useful, there’s no access to forex, CFDs, or crypto trading—so it may not suit everyone, especially if you want global or leveraged assets.

My opinion is based entirely on my genuine experience—not advertising or assumptions. I hope this transparent review helps you weigh up how Scotia iTrade’s reliability and offering compare to other Canadian brokers, and whether it’s right for your personal investing style.

Scotia iTrade at a glance

Security & Regulation

Scotia iTrade demonstrates a strong commitment to security and reliability, reflecting its status as part of Scotiabank and its full regulation by CIRO (formerly IIROC). The broker’s membership in CIPF ensures client accounts are protected up to $1 million in the unlikely event of insolvency. I see its robust integration with Scotiabank’s banking infrastructure as a further layer of trust, guaranteeing a high standard for safeguarding client data and assets.

Fund security is excellent for traditional assets—client funds are fully segregated and all operations adhere to strict institutional protocols. While the platform does not cater to crypto or FX markets directly, this conservative approach limits potential risks associated with speculative products. On the risk management front, Scotia iTrade offers all standard order types including stop loss and trailing stops, while account access is guarded by two-factor authentication. Negative balance protection isn’t a feature, but in the context of Canadian equities and standard margin lending, this is in line with industry norms.

Scotia iTrade enjoys a solid national reputation, underpinned by its affiliation with a major Canadian bank. The lack of significant Trustpilot presence is notable, but feedback on local investor forums consistently highlights reliability and safety, albeit at slightly higher commission costs. Overall, Scotia iTrade offers a dependable environment for Canadian investors focused on security.

Fees, Spreads & Commissions

Scotia iTrade adopts a classic and transparent commission-based fee structure, which aligns with the conventional offering of the major Canadian banks. For stock and ETF trades, the standard online commission is $9.99 per trade—noticeably higher than most discount brokers and even some bank-owned competitors. There is a reduced rate of $4.99 for very active traders (150+ trades per quarter), but achieving this threshold may be challenging for typical retail clients. While this structure enables straightforward cost planning, it is less competitive than brokers offering zero-commission or lower flat-fee trades.

I find account-related costs at Scotia iTrade to be clearly disclosed but not particularly client-friendly for low-balance or infrequent accounts. An inactivity fee of $25 per quarter applies if your account balance falls below $10,000 and if no trades occur within a quarter—a potential drawback for passive investors or those with small portfolios. Withdrawal costs—$25 per transaction for cheque or wire—are also on the high side versus market standards, where many brokers offer free or substantially cheaper withdrawals.

Currency conversion is another consideration. Although Scotia iTrade uses a traditional FX spread for converting currencies between USD and CAD, no upfront fee is listed. However, the spread itself can be materially wider than institutional rates, resulting in indirect costs if you trade U.S. assets frequently or operate in multiple currencies. No fees are charged on incoming deposits for most methods, which partially offsets other account charges.

On the hidden cost front, Scotia iTrade does not apply custody fees or extra spread markups on equities or ETFs, and there are no fees for holding mutual funds. However, since it does not offer direct trading of spot forex, CFDs, or cryptocurrency, the cost profile is limited strictly to traditional asset classes. For options, the fee climbs to $9.99 per trade plus $1.25 per contract, placing Scotia iTrade at the higher end of the commission spectrum nationally. Telephone-assisted trades carry a premium at $24.99, emphasizing the platform’s digital-first disposition.

What are the account-related fees?

Expert advice

Trader tip
If you are a buy-and-hold investor or trade infrequently, it’s crucial to keep your Scotia iTrade account balance above $10,000 to avoid inactivity fees. For U.S. trading, consider opening a USD sub-account to minimize recurring currency conversion costs on cross-border trades.

What are the fees on stocks and ETFs?

Stock and ETF investors face a flat-fee structure at Scotia iTrade, without hidden spreads or custody costs. The $9.99 per online trade commission is high compared to discount rivals, but there are no extra markups. You pay quoted bid-ask spreads and can avoid any overnight or custody fees for standard assets.

Assets & Markets

Scotia iTrade offers a broad and reliable selection of core asset classes, positioning itself as a leading choice for Canadian investors seeking stability, regulatory protection, and seamless integration with everyday banking. As a CIRO-regulated broker backed by Scotiabank, I can access thousands of Canadian and U.S. stocks and ETFs, all within registered accounts such as RRSPs and TFSAs, as well as margin and cash accounts. The platform also brings the convenience of advanced order types, robust charting, and a choice of web, mobile, or desktop platforms (FlightDesk) for more active traders.

A particular strength lies in the depth of mutual fund offerings and the inclusion of both government and corporate Canadian bonds, alongside GICs and new issues. This makes long-term, income-oriented, or conservative portfolio construction straightforward within a single platform. The ability to trade standardized options on North American equities further expands the toolkit for managing risk or implementing strategic income and hedging tactics.

However, Scotia iTrade is distinctly limited when it comes to global, alternative, and speculative asset access. There is no facility for spot forex trading, commodities, or direct crypto investing; exposure to these markets is possible only indirectly via ETFs or listed products. No CFDs, stablecoins, NFTs, or DeFi products are supported, which is a meaningful gap for active traders, global macro investors, or those interested in digital assets. The international equity universe is also more restricted than on some self-directed or global platforms.

Overall, Scotia iTrade’s asset lineup is best suited to mainstream Canadian investors seeking regulated, integrated, and reliable access to North American securities and fixed-income products—all under the umbrella of a major Canadian bank.

Trading Tools & Apps

Scotia iTrade provides a secure, well-integrated trading environment through its web platform, advanced FlightDesk software, and dedicated mobile app. The user interface is streamlined, enabling both new and experienced investors to manage portfolios, monitor markets, and place trades with ease. Navigation between research, trading tickets, and account features is fluid, and integration with Scotiabank accounts adds seamless cash transfer and consolidated viewing for those using the bank for everyday finances.

The web platform focuses on reliability and simplicity, offering a range of order types, real-time quotes, watchlists, and customizable alerts. For more active traders, FlightDesk introduces enhanced charting, multi-leg options strategies, and advanced screening tools. The desktop environment supports multi-monitor setups, deep watchlist customization, and efficient trade execution, though it doesn’t reach the technical breadth of professional or third-party platforms like MetaTrader or TradingView.

Mobile app users benefit from a stable and intuitive design, with quick access to account balances, recent trades, positions, and fundamental research. Charting on mobile is functional but basic, with price overlays and some standard indicators, though not at the level of dedicated charting software. The lack of advanced drawing tools and automation restricts its appeal for technical or algorithmic traders.

Scotia iTrade does not support algorithmic trading (such as EAs, bots, or APIs), automated strategies, or complex instrument integrations. There is also no direct access to trading signals, integration with third-party analysis tools, or portfolio automation found in competitors abroad. CFD, forex, and direct crypto trading are absent—commodities, currencies, and crypto exposure is only available via listed funds or ETFs. For investors focused on core Canadian and US securities in a registered account structure, the platform performs reliably; advanced traders seeking full automation or technical trading ecosystems will find it limiting.

Trip

Use Scotia iTrade’s demo account to practice advanced orders and platform navigation before committing real capital. Enable two-factor authentication on both your Scotia iTrade and Scotiabank online banking for maximum account security.

Account Opening & Deposits

Account opening

To open a Scotia iTrade account, begin by completing the online registration form, where you’ll enter personal and contact information and select your desired account type (Cash, Margin, TFSA, RRSP, etc.). Next, you’ll verify your identity—this is done by submitting a valid Canadian government-issued photo ID and providing your Social Insurance Number (SIN). The platform may request additional proof of address, such as a utility bill or bank statement. As part of the regulatory process, you'll answer a brief questionnaire covering your financial profile, risk tolerance, and knowledge of investment products. Once all required documents are uploaded, your application is reviewed; validation typically takes one to three business days. When approved, you’ll receive a confirmation email with your new account details and instructions for funding or accessing the demo environment.

Good to know

Ensure that your name and address on all uploaded documents exactly match your application details—discrepancies are a common cause for delays and additional review.

Deposits and withdrawals on Scotia iTrade

Depositing and withdrawing funds with Scotia iTrade is integrated with Canadian banking systems, making it seamless for domestic users. Deposits can be made via electronic funds transfer (EFT) from your Scotiabank or another Canadian bank account, bill payment, cheque deposit, or wire transfer. Most deposits are processed within 1–2 business days, though wire transfers may be credited on the same day if received before the cutoff time. Scotia iTrade does not support cryptocurrency or stablecoin deposits, integrated wallets, or fiat-to-crypto conversions. Withdrawals are executed through EFT to your linked bank account, cheque, or wire transfer; processing typically takes 1–3 business days. While EFT and cheque withdrawals usually have no fee, wire transfers incur a minimum $25 fee. Currency conversion may apply if withdrawing in USD to a CAD account or vice versa.

Good to know

Always double-check the linked bank account details when setting up withdrawals, and be aware of potential foreign exchange spreads when transferring between CAD and USD accounts.

Account Types

Scotia iTrade is a Canadian online brokerage regulated by CIRO and a member of CIPF. It focuses on providing a secure environment for investors through traditional account offerings, such as cash, margin, and a comprehensive suite of registered (tax-advantaged) accounts like TFSA and RRSP. Scotia iTrade does not offer CFD, forex, or crypto trading—its range is centered on stocks, ETFs, mutual funds, options, and fixed income. Both new and experienced investors can access a free practice (demo) account to familiarize themselves with the platform and trading tools. There are no specialty accounts such as Raw ECN, Islamic, staking, or cold storage accounts.

Tip

If you plan to use registered accounts (TFSA/RRSP), confirm the specific contribution limits and withdrawal rules, and compare commission fees across platforms—frequent traders may find lower-cost alternatives, while long-term investors often value integrated banking and security.

How Scotia iTrade compares to competitors

How does Scotia iTrade compare to competitors?

Customer reviews

Scotia iTrade does not have an official Trustpilot rating or verified review count as of July 2025. Les utilisateurs mettent en avant plusieurs aspects positifs de la plateforme, notamment :

• Easy account opening process for existing Scotiabank clients
• Offers a wide range of Canadian and U.S. stocks, ETFs, and registered accounts (TFSA, RRSP, etc.)
• Availability of a demo (practice) account for risk-free trial and learning
• Integrated banking and investing, allowing easy money movement within Scotiabank
• Multiple trading platforms with real-time data, charting, and research tools

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

• High commission fees ($9.99/trade) compared to online-first competitors
• Inactivity fees for low-balance or dormant accounts
• No direct access to forex, CFDs, or cryptocurrencies
• User interface and platform features can seem dated relative to fintech competitors
• Account transfers and certain withdrawals may incur additional fees and take time

Voici quelques exemples représentatifs d’avis publiés sur Trustpilot :

M.M. – 06/05/2025 : “Integrated banking makes funding my trading account simple, but the commissions are too high, especially for frequent trades.”

P.G. – 21/03/2025 : “I like the range of investment choices and the demo account, but I wish they offered more competitive pricing and fresher technology.”

S.D. – 12/01/2025 : “Reliable for long-term investing and RRSP management, but it’s not the right fit for active traders looking for low fees or access to forex and crypto.”

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.