Authority and scope
Sections ↑The Canadian Investment Regulatory Organization is Canada’s national self-regulatory body for investment dealers, mutual fund dealers and trading on debt and equity marketplaces. It carries forward the regulatory functions of IIROC and the MFDA. Its work includes conduct and financial rules, examinations, market surveillance and enforcement.[1]
Different roles in the Canadian framework
| Organisation | Role | What the distinction means |
|---|---|---|
| CIRO | Dealer and market oversight. | Membership should be checked for the named legal firm.Source 1 |
| Provincial and territorial securities regulators | CIRO operates under their recognition orders and oversight. | Dealer membership does not replace the account’s applicable registration scope.Source 3 |
| Canadian Investor Protection Fund | A separate industry fund supporting return of eligible client assets when a member becomes insolvent. | Eligibility and coverage conditions are a separate assessment from CIRO membership.Source 3 |
| OBSI | Independent dispute resolution for customers of member firms. | The customer first raises the complaint with the firm; dispute resolution differs from regulatory enforcement.Source 3 |
Registers and permission checks
Sections ↑Use CIRO’s public dealer directory to match the legal company, dealer category and any listed terms or conditions. A brand name, corporate registration number or internal webpage identifier is not a substitute for the firm’s securities-registration details.[2]
Check the exact legal entity, permissions, current status and scope in the official record. A brand connection in our coverage does not establish authorisation.
Complaints and redress
Sections ↑A complaint seeking money should first go to the dealer. OBSI is the independent dispute-resolution route described by CIRO for participating investment firms. An investor normally has 180 days from the firm’s response to bring the complaint to OBSI, and may approach OBSI after 90 days without a response. For Quebec residents, CIRO identifies a 60-day firm-response period, extendable to 90 days in exceptional circumstances.[4]
Do not let an internal appeal obscure the deadline
| Subject | What it means |
|---|---|
| Internal appeal | Using a firm’s internal appeal process is voluntary. It does not restart the 180-day OBSI period.Source 4 |
| Unresolved dispute | Submit the complaint, firm response and supporting account records to OBSI; it assesses its own jurisdiction and the merits.Source 4 |
| Court rights | Internal review does not extend legal limitation periods. Ask the relevant forum about the effect of a particular complaint process.Source 4 |
Compensation and firm failure
Sections ↑CIPF concerns eligible client property missing because a member firm becomes insolvent. It does not insure investment performance and excludes crypto assets from eligible property. Its published claim period is 180 days from the insolvency date. Whether a particular account is covered depends on the member, property and account capacity, not simply the CIRO brand appearing on a website.[5]
CIPF groupings for an individual
| Subject | What it means |
|---|---|
| General accounts | CAD 1 million for general accounts combined, including cash/margin accounts, TFSAs and FHSAs.Source 5Source 6 |
| Retirement accounts | A separate CAD 1 million for registered retirement accounts combined.Source 5Source 6 |
| Education savings | A separate CAD 1 million for RESPs combined where the individual is the subscriber.Source 5Source 6 |
| Joint account | The individual’s proportionate share is generally included in their general-account grouping; opening another account does not automatically create another limit.Source 6 |
Official contacts and resources
Sections ↑Official redress and failure resources
Scope Links the firm-first process to OBSI and other options.
Scope Check member, account grouping, property and claim instructions.
Seeking financial compensation
- Responsible body
- Canadian Investment Regulatory Organization
- Scope
- Firm-first process; OBSI deadlines, Quebec exception, voluntary internal appeal.
- Resource availability
- Available
- Checked
- Source 4
About CIPF coverage
- Responsible body
- Canadian Investor Protection Fund
- Scope
- Eligible property missing on member insolvency; separate account groups and 180-day claim period.
- Resource availability
- Available
- Checked
- Source 5
CIPF frequently asked questions
- Responsible body
- Canadian Investor Protection Fund
- Scope
- General, retirement and RESP groupings; joint-account proportionate interests.
- Resource availability
- Available
- Checked
- Source 6
Resource availability describes the documented route. It does not establish eligibility, authorisation or compensation coverage.
Report misconduct, scams or a clone
Sections ↑This profile has not yet established the applicable procedure, receiving body and eligibility for this task. Consult the authority’s official resources and check your firm, product and circumstances before acting.
Sources & further reading
- About CIRO Canadian Investment Regulatory Organization · Accessed 10 Oct 2026
- Dealers we regulate Canadian Investment Regulatory Organization · Accessed 29 Oct 2026
- Where CIRO fits in the Canadian securities regulatory framework Canadian Investment Regulatory Organization · Accessed 10 Oct 2026
- Seeking financial compensation Canadian Investment Regulatory Organization · Accessed 29 Oct 2026
- About CIPF coverage Canadian Investor Protection Fund · Accessed 15 Oct 2026
- CIPF frequently asked questions Canadian Investor Protection Fund · Accessed 15 Oct 2026
A documented resource is not a finding of eligibility or compensation coverage. Consult the named body and current official terms for your firm, product and circumstances.
Report an error or submit an update
Covered broker profiles
Profiles connected to this authority in our coverage. This is not a complete official register or a list of approved brokers; see each entity’s dated status.
BMO InvestorLine
BMO InvestorLine’s Canadian securities service now offers zero stock/ETF commissions and zero brokerage administration fees. Options, foreign exchange, borrowing and banking services still have costs. Separate adviceDirect and Premium accounts add advice under a new flat annual fee schedule.
- Operating status
- Active
- Headquarters
- Toronto, Canada
- Sources checked
- 15 Oct 2026
CIBC Investor's Edge
CIBC Investor's Edge accounts, Canadian and U.S. commissions, fractional-share pricing, deposit holds, margin requirements, research tools and the protection provided through CIBC Investor Services Inc.
- Operating status
- Active
- Headquarters
- Toronto, Ontario, Canada
- Sources checked
- 29 Oct 2026
Desjardins Online Brokerage
Disnat’s Canadian self-directed accounts, Classic and Direct platforms, trading and account fees, cash transfers, order controls and the Desjardins Securities protection framework.
- Operating status
- Active
- Headquarters
- Montréal, Québec, Canada
- Sources checked
- 29 Oct 2026
Qtrade Direct Investing
Qtrade Direct Investing’s current zero-commission stock and ETF pricing, options and account fees, margin rates, funding, portfolio transfers, security controls and Aviso Financial Inc. dealer structure.
- Operating status
- Active
- Headquarters
- Vancouver, British Columbia, Canada
- Sources checked
- 29 Oct 2026
Questrade
An account-by-account guide to Questrade’s Canadian offer, including current securities and FX/CFD pricing, currency conversion, margin, options permissions, managed portfolios and customer protections.
- Operating status
- Active
- Headquarters
- Toronto, Canada
- Sources checked
- 10 Oct 2026
RBC Direct Investing
A Canadian securities broker with full-suite cash, margin and registered accounts, plus the narrower GoSmart mobile service. The decisive differences are currency balances, investment access, trading commissions and which account qualifies for each platform or client benefit.
- Operating status
- Active
- Headquarters
- Toronto, Canada
- Sources checked
- 13 Oct 2026
Scotia iTRADE
A Canadian self-directed securities broker with cash, margin and registered accounts, Canadian and US investments, fixed income and options. Compare ordinary commissions with ETF waivers, banking-package allowances and iClub benefits, then check currency, data and money-movement costs.
- Operating status
- Active
- Headquarters
- Toronto, Ontario, Canada (Scotia Capital Inc.)
- Sources checked
- 11 Oct 2026
TD Direct Investing
Canada’s TD Direct Investing offers cash, margin and registered securities accounts, the separate USD-only Active Trader margin account, and the simpler EasyTrade app. This profile compares investment permissions, partial shares, currency charges, account fees, lending and the platforms each account can actually use.
- Operating status
- Active
- Headquarters
- Toronto, Canada
- Sources checked
- 10 Oct 2026
Wealthsimple
A Canadian self-directed brokerage with commission-free listed stocks and ETFs, optional USD balances, registered accounts and margin. This profile separates account wrappers, asset-based service tiers and advanced-product permissions, with current fees and practical funding rules.
- Operating status
- Active
- Headquarters
- Toronto, Ontario, Canada
- Sources checked
- 11 Oct 2026