No, you still have to apply for an Ontario driver's licence, though some or all of the testing requirements may be waived: check the details here: https://drivetest.ca/licences/licence-exchanges/dnd_404_holders.html
You may be able to, or at least have some of the testing requirements waived; check your eligibility at https://drivetest.ca/licences/licence-exchanges/licence_exchange.html
Yes, various fees must be paid before your licence will be issued. The most common fee is $158.25 for a Class G1 licence package, which includes the costs of testing and a five-year licence when successful. Additional fees will be charged for repeat tests, and fees for commercial vehicles, motorcycles etc may be different.
You must successfully pass three different elements: a vision test, a written knowledge test and a practical on road test or tests.
If you are Canadian citizen, you must show your passport, a Canadian Citizenship Card or Certificate of Canadian Citizenship (if issued prior to February 1, 2012), a Secure Certificate of Indian Status Card or an Ontario Photo Card. If you have none of these, two documents combined, for example your birth certificate and a marriage …