BMO drops all InvestorLine trading commissions — SkimNews
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- BMO InvestorLine becomes the first direct investing brokerage owned by one of Canada's Big Five lenders to offer zero-commission trading on stocks, ETFs, and options, with the new pricing taking effect Sept. 14
- The bank is also eliminating all brokerage account administration fees and reducing options contract fees for InvestorLine clients
- CEO Silvio Stroescu framed the move as removing "pricing friction" to win younger clients, noting the under-35 segment is already InvestorLine's fastest-growing cohort
- Digital competitors Wealthsimple and Questrade have seen assets under administration jump as Canadian investors seek lower-cost platforms; sixth-ranked National Bank of Canada already offers zero-commission trading through its direct brokerage
- InvestorLine assets under administration grew at a 14% compound annual rate from 2020 to 2025 and accounted for 9% of BMO's wealth management revenue in the third quarter
- Stroescu positioned InvestorLine as a "bridge" into BMO's broader wealth services, saying clients progress over time to private banking and traditional advisory as needs grow more complex
Why it matters: For younger Canadian investors who heavily weigh trading costs, BMO's move closes the fee gap that had pushed them toward Wealthsimple and Questrade. With the under-35 segment already InvestorLine's fastest-growing cohort and the platform delivering 9% of wealth management revenue last quarter, zero-commission trading is a strategic front door into BMO's wider advisory and private banking franchise rather than a defensive concession.
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