[Updated July 2nd]
For the most part, many of July’s discount brokerage deals and promotions look to be mostly similar to last month’s offering. First, I’ll recap of the deals that expired at the end of June and then launch into the deals that got extended and round out with the newest offerings.
Expired Deals
Three discount brokerages had their deals expire coming into July:
Scotia iTrade’s 100 Free Trades + Flight Desk Promotion[Now extended to September 30, 2013]- Disnat’s SCATE tour promotion (and transfer fee credit that goes with it)
- Credential Direct’s transfer fee credit promotion
TD Direct Investing’s 50 commission-free trade offer is scheduled to expire just before mid-July and we will be watching to see what, if anything, will replace it at that time.
Extended Deals
Sometimes it’s just too hard to say good-bye to a deal. Scotia iTrade has extended the deadline for their Refer-a-Friend promotion out to July 31st as well as their 100 Commission-Free Trade offer (extended until September 30th). Questrade has added some more time to the clock of their Advantage promotion, which offers 1 month of unlimited commission free trading, moving its expiry date out to the end of August.
Newly Added Discount Brokerage Deals
Although this is not the first time Questrade has offered 100 commission-free trades, the current 100 commission-free trade offer does make it the only Canadian discount brokerage to have a 100 commission-free trade promotion on the table makes them one of two discount brokerages (the other being Scotia iTrade) to offer 100 commission-free trades. The terms and conditions on the Questrade deal are numerous, so be sure to read and understand the requirements (especially the account funding rules) when considering this offer. The offer is open to new accounts depositing at least $10,000.
Out of the 12 13 deals on this month’s list, Questrade and National Bank Direct Brokerage make up just over half of the offers. Given the competitive nature of the discount brokerage business, however, it is not likely that the remaining discount brokerages will sit out of offering deals for very long.
As always, if there are any deals or promotions that you spot that you think should be featured, feel free to drop me a note here.
Discount Brokerage Deals & Promos
| Company | Brief Description | Minimum Deposit Amount | Commission/Cash Offer Type | Time Limit to Use Commission/Cash Offer | Details Link | Deadline |
|---|---|---|---|---|---|---|
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A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform. | n/a | Discounted Commission Rates | none | For more details click here | none |
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Open a new margin account with National Bank Direct Brokerage before August 31st 2013 and receive a 1% discount of prime for a margin interest rate. Also, commission rates will be fixed at $6.95 for 3 months. Be sure to read the terms and conditions as well as understand the risks associated with trading on margin. Use promo code: “MARGIN2013” when signing up. | n/a – while no minimum deposit is required, you must pass a credit check to qualify | 1% of prime rate for margin borrowing $6.95 fixed commission rate for 3 months | Margin rate discount: 3 months Commission rate discount: 3 months | Click here for margin promo details and here for terms and conditions | August 31, 2013 |
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Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc | $1,000 | $50 commission credit | none | none | none |
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Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account. | $1,000 | $50 commission credit (friend) $100 commission credit (referrer bonus) | 60 days | Refer a friend | none |
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Open a new account (TFSA, Margin or RRSP) by August 31st with A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code 100Free95 must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information. | A)$1,000 B)$10,000 | A)10 free trades B)100 free trades | 60 days | 100 commission-free trades | August 31, 2013 |
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Open a new account with TD Direct Investing before July 12, 2013 and deposit either A)$5,000 to $25,000 B)$25,000 to $50,000 or C)$50,000 or more to receive commission credits for A) 3 trades, B)10 trades or C) 50 trades. Be sure to read the details about keeping your account balance at qualifying levels, eServices subscription as well as other terms and conditions. | A)$5,000 B)$25,000 C)$50,000+ | A) 3 Trades (max value $87) commission credit B) 10 trades (max value $290) commission credit C) 50 trades (max value $500) commission credit | Trades must be used by September 30, 2013 4pm ET. | 50 free trades offer | July 12, 2013 |
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If you refer a friend/family member who is not already a Scotia iTrade account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members’ contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link. | A)$10,000 B)$50,000+ | A) You(referrer): $50 or 10 free trades; Your “Friend”: $50 or 10 free trades (max total value:$199.80) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $999) | 60 days | Refer A Friend to Scotia iTrade | July 31, 2013 |
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Open and fund a new Scotia iTRADE account with at least $25,000 before September 30, 2013 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions. | $25,000 | 100 commission-free trades ($999 value @ $9.99 commission rate) | 60 days | Scotia iTrade 100 free trades + FlightDesk | September 30, 2013 |
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Open a new account with National Bank Direct Brokerage before Oct. 31st and the commission rate for equity transactions will be fixed at $6.95 for 6 months. Use promo code: EVENT2013. Since this is unadvertised, you’ll have to call their customer service line: 1-800-363-3511 for full details. | $25,000 | $6.95 fixed commission rate for 6 months | 6 months | Click here for a low-res version of flyer or here for a high-res version. | October 31, 2013 |
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If you refer a friend/family member who is not already a National Bank Direct Brokerage account holder to them, both you and your friend get a bonus of $100 each. The promotion code “FRIEND” must be used on the account application form. Read the details link for full terms and conditions. Note the maximum referral bonus per client is $1000. | $25,000 | $100 referral bonus (referrer) $100 referee (your “friend”) | Payout occurs after 6 months | Share $200 with a Friend Promotion | October 31, 2013 |
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Open a new account (TFSA, Margin or RRSP) and receive 30 days of commission-free trading and one month free of the US Advanced market data package. Use promo code ADVANTAGE when signing up. Offer is open to new clients only. There are a number of important conditions to qualify – be sure to read terms and conditions to the deal. | $25,000 | 30 days unlimited commission-free trading + 1 month free Advanced US market data package. | 30 days | Advantage Promotion | August 31, 2013 |
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Disnat is celebrating its 30th anniversary by offering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat30. See details link for more info. | $50,000 | $300 commission credit | 6 months | Disnat 30th Anniversary Promo | August 30, 2013 |
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If you refer a new client to BMO InvestorLine and they open an account with a)$50,000 – $249,999 or b)$250,000+ the referrer and the referee will both receive cash. The new account must be opened with the referral code specific to the referrer. | A) $50,000 – $249,000 B) $250,000+ | A) You(referrer): $200; Your Friend(referee): $50 B) You(referrer): $300; Your Friend: $100 | Payout occurs after 60 days (subject to conditions). | Refer-a-Friend terms and conditions can be located by logging into the InvestorLine panel under “account services” or by contacting BMO InvestorLine directly | December 31, 2013 |
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Open a new account or upgrade an existing account with $100,000 and choose to receive either $250 cash back or 2000 Air Miles. Use Promo Code: BONUS250 to receive the cash back offer or BONUSAM (+ Air Miles Collector #) to receive the Air Miles offer. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully. | $100,000 | $250 Cash Back OR 2000 Air Miles | Payout occurs after 6 months | Air Miles Promotion | September 4, 2013 |
Transfer Fee Deals
| Company | Brief Description | Maximum Transfer Fee Coverage Amount | Deposit Amount for Transfer Fee Eligibility | Details Link | Deadline |
|---|---|---|---|---|---|
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Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150. | $150 | $25,000 | Transfer Fee Promo | none |
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Open a new account by July 12, 2013 and transfer $25,000 or more to TD Direct Investing and they will cover up to $150 of the brokerage transfer fees. | $150 | $25,000 | 50 free trades offer | July 12, 2013 |
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Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees | $135 | $25,000 | Transfer Fee Rebate | none |
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Qtrade Investor will reimburse your transfer fee up to $125 when transferring a balance of $25,000 or more. For reimbursement, please mail or fax a copy of your statement from the transferring institution that shows the transfer charge to Qtrade Investor at 604.484.2627 and indicate your Qtrade Investor account number. | $125 | $25,000 | Transfer Fee Promo | none |
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Disnat is celebrating its 30th anniversary by offering up to $150 to cover the cost of transfer fees from another institution. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat30. See details link for more info. | $150 | $50,000 | Disnat 30th Anniversary Promo | August 30, 2013 |