What are CI Direct Investing''s fees?

CI Direct Investing charges a tiered management fee for its robo-advisor (CI Direct Trading — Managed) service: 0.60% on the first $150,000 and 0.35% on amounts above $150,000. Underlying ETF MERs add approximately 0.17–0.25%, bringing the all-in cost to roughly 0.77–0.85% for most balance levels. This is higher than Questwealth (0.37–0.47%) and comparable to or slightly more than Wealthsimple Invest (0.60–0.70%) depending on balance. CI Direct also offers a self-directed platform (formerly Virtual Brokers) with $6.88/trade for stocks and free ETF purchases.

What happened to Virtual Brokers?

Virtual Brokers was rebranded as CI Direct Investing in 2021 after being acquired by CI Financial. The self-directed trading platform continues under the CI Direct Investing name, offering competitive pricing (free ETF purchases, $6.88 stock trades). CI Direct Investing now also includes the robo-advisor service and a wealth management service, positioning it as a full-spectrum direct investing platform. The underlying self-directed platform is the same system as the former Virtual Brokers.

Does CI Direct Investing have SRI or ESG portfolios?

Yes — responsible investing is a central differentiator for CI Direct Investing. CI Direct offers ESG-focused managed portfolios that screen for environmental, social, and governance factors. These portfolios tend to use ESG-tilted ETFs and may have slightly higher all-in costs than the standard managed portfolios. If responsible investing is your primary requirement, CI Direct is one of the more seriously committed Canadian robo-advisors in this space, alongside Wealthsimple''s SRI option and Questwealth''s SRI portfolios.

Is CI Direct Investing self-directed platform (formerly Virtual Brokers) good?

CI Direct''s self-directed platform is cost-competitive: free ETF purchases, $6.88 for stock trades, and no inactivity fee for accounts over $5,000. It is broadly comparable to NBDB on pricing. The platform is less well-known and less frequently reviewed than Questrade or Qtrade, but for cost-focused self-directed investors, it offers solid value. One limitation is that CI Direct''s platform lacks the research depth of Qtrade and the brand community of Questrade.

What is the minimum to open a CI Direct Investing managed account?

The minimum for CI Direct Investing''s managed (robo-advisor) account is $1,000. This is the same minimum as Questwealth. Wealthsimple Invest has no formal minimum for most account types, making it more accessible for new investors starting with less than $1,000.

Who is CI Direct Investing best suited for?

CI Direct Investing suits two types of investors: (1) Responsible investing (ESG/SRI) focused investors who want a managed portfolio with a clear ESG commitment; (2) Self-directed investors looking for a bank-neutral, low-cost platform that is an alternative to Questrade or Qtrade but less well-known. CI Direct is not the top choice for pure cost minimization (Questwealth is cheaper for managed; Questrade/NBDB are comparable for self-directed) but earns consideration for its SRI depth and combined managed + self-directed offering under one roof.

CI Direct Investing Review 2026 | Robo-Advisor & Self-Directed Platform

Item: CI Direct Investing
Rating: 4.0

If you are comparing managed platforms first, start with best robo-advisors in Canada and robo-advisor fees comparison in Canada.

CI Direct Investing Review 2026

CI Direct Investing — formerly known as Virtual Brokers — is a full-spectrum investing platform offering both self-directed trading and managed (robo-advisor) portfolios. Originally built as a low-cost independent broker, it was acquired by CI Financial in 2021 and rebranded with a stronger focus on responsible investing and managed accounts.

Quick Overview

Feature	Managed (Robo)	Self-Directed
Fee structure	0.35–0.60% management fee + ETF MER	$6.88/trade stocks; $0 ETF buys
All-in cost	~0.77–0.85%	$0–$6.88/trade
SRI / ESG portfolios	✅ Yes	✅ ESG ETFs available
Account minimum	$1,000	$0
Automatic rebalancing	✅ Yes	Manual
Account types	TFSA, RRSP, RESP, non-registered	Full range
Regulation	CIRO member, CIPF coverage

Overall Rating

Category	Score
Managed fee (vs Questwealth)	★★★
Managed fee (vs mutual funds)	★★★★★
SRI commitment	★★★★★
Self-directed fees	★★★★
Platform experience	★★★★
Brand recognition	★★★
Overall	★★★½

Managed Portfolio Fees

Management Fee Tiers

Balance	Management fee
$0–$149,999	0.60%
$150,000+	0.35%

Total All-In Cost

Balance	CI Direct all-in	Questwealth all-in	Wealthsimple Invest all-in
$25,000	~$0.85% (~$213)	~0.47% (~$118)	~0.70% (~$175)
$100,000	~$0.80% (~$800)	~0.40% (~$400)	~0.65% (~$650)
$200,000	~$0.55% (~$1,100)	~0.37% (~$740)	~0.60% (~$1,200)

CI Direct’s fee becomes more competitive at higher balances due to the $150K tier drop to 0.35%.

If you are deciding whether the managed fee is worth paying at all, compare robo-advisor vs ETF portfolio in Canada before choosing the service tier.

Self-Directed Platform (Formerly Virtual Brokers)

Trading Fees

Transaction	Cost
Stocks	$6.88/trade
ETF purchases	$0
ETF sells	$6.88 (except certain ETF programs)
Options	$6.88 + $1.25/contract
Fixed income	$0

Self-Directed Account Fees

Fee	Cost
Inactivity fee	$0 (accounts over $5,000)
Administration fee	$25/quarter for accounts under $5,000
Transfer out	~$135/account
RRSP/TFSA annual fee	$0

Responsible Investing (SRI/ESG) Focus

Feature	Details
ESG screening	Environmental, social, and governance criteria
Fossil fuel exclusion	✅ Available in SRI portfolios
Weapons exclusion	✅
ESG scoring integration	Built into portfolio construction
ESG ETF selection	iShares ESG series, Mackenzie ESG ETFs
Premium to standard portfolios	~0.05–0.10%

For investors whose primary criterion is ESG alignment, CI Direct Investing is one of the most intentional Canadian robo-advisor options available, alongside Wealthsimple’s SRI offering.

If ESG is the main lens, also compare best ESG ETFs in Canada for the DIY route.

Portfolio Options (Managed)

Portfolio	Equity	Risk level
Conservative	~30%	Low
Moderate	~50%	Medium
Growth	~70%	Medium-high
Aggressive	~100%	High
SRI Conservative	~30%	Low (ESG)
SRI Growth	~70%	Medium-high (ESG)
SRI Aggressive	~100%	High (ESG)

Account Types (Both Managed and Self-Directed)

Account	Available
TFSA	✅
RRSP / Spousal RRSP	✅
RESP	✅
RRIF	✅
Non-registered	✅
Corporate / Business	✅ (self-directed)
Margin	✅ (self-directed)

CI Direct Investing vs Competitors

Broker	Managed fee (all-in)	Self-directed ETF buy	SRI portfolios	Best for
CI Direct Investing	~0.77–0.85%	$0	✅ Strong	ESG investors, combined platform
Questwealth	~0.37–0.47%	N/A (no self-directed)	✅ Available	Cost-focused managed
Wealthsimple Invest	~0.60–0.70%	N/A	✅ Available	UX, brand, beginners
Questrade self-directed	N/A	$0	✅ DIY	Active investors
Qtrade	N/A	$0 (list)	✅ DIY	Research, service

Who CI Direct Investing Is Best For

Investor type	Fit
ESG/SRI-committed investor using managed portfolio	✅ Strong commitment, full ESG portfolios
Self-directed investor wants $0 ETF buys cheaply	✅ Good — $0 buys, $6.88 sells
Investor wanting managed + self-directed under one roof	✅ Can hold both account types
Cost-focused managed investor	⚠️ Questwealth is cheaper
Investor looking for best-known platform	⚠️ Lower brand recognition than Wealthsimple or Questrade

Bottom Line

CI Direct Investing (formerly Virtual Brokers) is a solid, somewhat under-the-radar platform that stands out primarily for its ESG/SRI managed portfolios and the ability to pair a managed portfolio with self-directed trading under one account umbrella. Its managed fees are higher than Questwealth — the clear Canadian cost leader for robo-advisors — but competitive at $150,000+. The self-directed platform is reasonably priced with free ETF purchases. For investors who prioritize responsible investing and want a managed portfolio from a provider deeply committed to ESG, CI Direct Investing deserves evaluation alongside Wealthsimple’s SRI option and Questwealth’s SRI tier.

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