September 2013 – SparxTrading

Posted on September 27, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup – September 27, 2013

As hard as it is to believe, September is almost over and with it there was some major news this past week in the discount brokerage space. In this edition of the roundup, I look at the big news in discount brokerage rankings that was announced earlier in the week as well as highlight what month end means for some deals. Also included in the roundup are some interesting events spotted taking place at a major brokerage and some informative posts in the investor forums.

Another Best Online Discount Brokerage Announced

Earlier this week JD Power & Associates released the results from their annual investor satisfaction survey and the discount brokerage rankings that go with them. This year’s winner was National Bank Direct Brokerage who narrowly edged out the reigning winner Disnat. Some highlights from this year’s investor satisfaction survey were that the overall average satisfaction for the Canadian discount brokerage industry rose to 724 (out of 1000) up from 700 a year earlier. While the rankings did cover most of the Canadian discount brokerages, there were a couple of popular brokerages (Virtual Brokers, Credential Direct and Interactive Brokers) that just didn’t have enough of a sample to be included.

To learn more about how the JD Power & Associates discount brokerage rankings work, check out the special series explaining this award. Also coming up shortly is an in-depth look at the award results for 2013 as well as commentary from National Bank Direct Brokerage on the win.

So You Think You Can Trade?

National Bank Direct Brokerage has also been busy on the contest front. In partnership with Horizons Exchange Traded Funds, National Bank Direct Brokerage is sponsoring the Horizons ETFs Biggest Winner Contest. The simulated ETF trading competition awards cash prizes to those whose ETF portfolios outperform other competitors. The contest has a grand prize of $7500, second prize of $2500.00 and weekly prizes of $500. The competition starts on October 7^th, 2013 and runs until November 15th. For more information about the competition check this link.

Guess Who’s Back?

Earlier this week, one of the major bank-owned discount brokerages, RBC Direct Investing, revived their investor education seminar series by holding some introductory sessions at their investor centers in Vancouver and Toronto. This article goes over what the event was like and what attendees can expect if they wish to attend.

What’s the Deal?

As we near the end of the month there a couple of discount brokerage deals are set to expire. Scotia iTrade’s “Refer-a-Friend” offer is scheduled to expire at the end of September however on several occasions in the past this has been extended at the beginning of the next month.

Another notable deal expiring at the end of September is BMO InvestorLine’s Air Miles/$250 cash back offer. With the recent launch of deals by RBC Direct Investing, HSBC InvestDirect and the extensions of deals by a number of other brokerages earlier in the month, it will be interesting to see what BMO InvestorLine decides to roll out through next week as this is their major promotional offer currently being advertised. Although it was originally set to expire in early September, the expiry date for the “AirMiles/Cash Back” deal got pushed out until the end of the month so it will be interesting to spot what, if any deals will be announced.

Unhappy (Divid)Ending

In the RedFlagDeals forums this past week there was an interesting post spotted that discussed how dividends are treated while trading on margin. Specifically, the answer to the following post by user Mark77 indicates that rules about where a dividend originates can determine how they get classified.

Posted on September 25, 2013 by user — Leave a comment

RBC Direct Investing (re)Launches Investor Education Seminars

After a long vacancy on the RBC Direct Investing website, the free educational seminars section looks like it has finally come back to life.

For quite some time, the investor education seminars section has been more or less dormant and was pointing visitors to set up one-on-one sessions with its reps at investor centres. Recently, however, RBC Direct Investing has begun holding educational seminars (from September through to November) at their investor centres in Calgary, Toronto and Vancouver.

As can be seen in the screenshot below, these sessions will be held at around lunch time and last approximately one hour.

The current investor education sessions appear to be geared towards orienting individuals on how to navigate the RBC Direct Investing platform and features rather than providing specialized education on investing related topics.

Included in the session I attended were overviews on:

funding an account
how to access support
third-party research tools
goal setting features and
RBC Direct Investing communities & forums

One of the most interesting features mentioned in the Vancouver session I attended was on the community and forums section that is currently in beta-testing. Other than Questrade, there are no other Canadian discount brokerages that are offering dedicated investor-focused forums or communities.

As yet, there are no confirmed announcements for further topics or sessions. That said, for individuals considering RBC Direct Investing and who want to learn more about what the kinds of features and functionality offered at RBC Direct Investing, this would be a helpful session. Alternatively, there are always one-on-one sessions that can be booked with the RBC Direct Investing reps at the investor centres.

More information about RBC Direct Investing’s educational seminars is available on their website and for more information on other educational seminars currently being offered by other discount brokers, check out the SparxTrading.com investor education calendar section.

Posted on September 20, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup – September 20, 2013

Against the backdrop of smartphone maker drama, securities regulator announcements and US Federal Reserve tapering, Friday is finally here – and for some, it couldn’t come fast enough. While it was hard to compete with the headline grabbing billion dollar writedown or a sexy new operating system, Canadian discount brokers were busy making some big moves of their own.

In this week’s roundup, I look at a roll out of a new mobile website, two new deals that popped up and a couple of investor education events readers might be interested in.

A New Front

This past week, National Bank Direct Brokerage officially unveiled the new mobile website (www.m.nbdb.ca). For the most part, the mobile website improvement comes at the front-end where visitors can learn more about NBDB, access upcoming event information and do some market research. In fact, there is something very unique about the mobile website relative to other discount brokerages in that NBDB has provided access to research on markets and stock quotes without having to log in. This is very handy for anyone looking to get a quick update on market activity.

There is a review of their mobile website prior to the front-end upgrade which details what the experience is like after the login.

Deal Me In

Two new discount brokerage deals popped up on the radar this week. The appearance of this first deal, while a surprise, is not unexpected given the level of competition between discount brokerages.

HSBC InvestDirect, which has been quietly adding some promotional material to its homepage, finally posted its latest promotion on their website. They are offering new clients 50 free trades (valid for 60 days). What really sets this deal apart is that according to the deal terms and conditions, there is no deposit minimum. A nice touch is that the terms and conditions are fairly simple to understand and they have also provided a frequently asked questions document to go with the deal to explain it.

The second deal spotted this week comes from Scotia iTrade. In their latest offer, new or existing clients that fund their account with $100,000 or more can get $150 cash back. Cash-back offers have not been that popular except with bigger discount brokerages such as BMO InvestorLine, however new clients who sign up for this deal are also likely to be eligible for the 100 free trade offer.

To see how the new HSBC InvestDirect deal and the Scotia iTrade cash back offer stack up against other discount brokerages, click here.

Upcoming Events

This weekend many of Canada’s most popular personal finance bloggers, authors and enthusiasts will be in Toronto at the 3^rd annual Canadian Personal Finance Conference. If you are a fan of personal finance, you can learn about the conference here. If you want to tune into the buzz, check out the hashtag #CPFC13 or the Twitter feed below:
Tweets about “#CPFC13”

For those interested in learning about options trading or how options work, Options Education Day is coming to Toronto on September 28th. There is going to be a great lineup of speakers and several Canadian discount brokerages sponsoring the event will also be on hand. Check the event listing here for more information.
Finally, one more discount brokerage has decided to offer a free webinar on how to understand company reports. Credential Direct is hosting a free webinar (scheduled for October 3rd) put together by Morningstar Canada on how to understand company reports . For more information check out the event listing.

That wraps it up for this week’s roundup. Have a great and safe weekend and enjoy the last of the 2013 summer!

Posted on September 13, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup – September 13, 2013

Welcome to the Friday the 13^th edition of the discount broker weekly roundup. It’s been an exciting week in the markets as news of the widely anticipated Twitter IPO became official. This week, I’ll provide some highlights of fee drops and deal announcements that took place, followed up by a couple of interesting forum on discount broker costs. Finally, there are a couple of examples of how “social media” is being used by discount brokerages/financial firms to connect with Canadians interested in investing.

Fee Information Gets No RESP(ect)

Earlier this week, I wrote a piece on CIBC Investor’s Edge and how they’ve waived the annual fee for the RESP for balances under $15,000. As a quick heads up, neither the fee schedule nor the commission page have been updated as yet, however the announcement does appear on their home page.

Deal Updates

RBC Direct Investing also just recently jumped onto the deals and promotions bandwagon by offering 25 commission-free trades that can be used for up to a year. Their marketing strategy of being able “trade free for a year” is definitely catchy however be sure to read the fine print. To see how this offer stacks up against other discount brokerage deals, click here.

In the Forums

Forum activity has been picking up recently, with investors looking to other investors for their thoughts on market direction and particular stocks. Along with the increase in market interest, there were a couple of discount brokerage related questions that came up about the costs at Questrade.

In this first post on Canadian Money Forum, a mini-debate was touched off by Questrade’s recent announcement to its clients that it would be raising its options assignment/exercise fee to $24.95 (flat) from $12.95.

The following post on RedFlagDeals.com, there was some clarification required on the actual interest rates for margin accounts. While the original poster had their answer clarified, the follow up post shed light that Questrade’s margin interest rates are not, in fact, as cheap as other discount brokerages. This is a good example of why it is important to understand all of the costs associated with choosing a discount brokerage and whether some tradeoffs on price make sense for the style of trading that is anticipated.

Investors and Social Media

A recent survey commissioned by BMO InvestorLine showed that investors may not find social media as reliable as “traditional media” when it comes to investing information. Intriguing as the results were, there are more results daily of the shift in media towards the new channels, such as Twitter, Facebook and others. The following examples from this week’s roundup seem to suggest that social media is something investors and Canadian discount brokerages, are starting to embrace more fully.

From FaceBook

While it might be hard to imagine Facebook being a source of investment information, the following example of funny video from TD shows how TD is leveraging Facebook as a way to connect with investors in their “TD Helps” forum

From Twitter

Twitter is awash in content being provided by various discount brokerages. While there is often an incentive to try and direct traffic to the brand, online brokers such as National Bank Direct Brokerage, have used Twitter to connect visitors to educational content. And they’re not alone, brokerages on Twitter such as Scotia iTrade and Virtual Brokers are also doing the same, albeit to different degrees.

As these major brands migrate more of their content onto social media channels, users may find it ‘easier’ to trust the channel if they begin to trust the personalities present on them.

That’s it for this edition of the roundup, hope everyone has a spectacular weekend!

Posted on September 11, 2013 by user — Leave a comment

Maintenance Fees Get no RESP(ect) at CIBC Investor’s Edge

The swelling costs of funding higher education are on the minds of a lot of folks lately. With the speed and magnitude at which fees for post-secondary tuition are growing, simply putting money aside for “junior’s” education may not be enough. It seems like even the savings have to go out and find a second job to support the idea of paying for post-secondary education.

RESP(ect), Find Out What it Means for Fees

One of the tools that Canadian parents have at their disposal when it comes to saving for their children’s post-secondary education is the Registered Education Savings Plan (RESP). Recently, despite the dark clouds of rising fees for schools, there was a silver lining from one of Canada’s major bank-owned discount brokerages. CIBC Investor’s Edge announced that they’re eliminating their annual RESP account administrative fees.

As can be seen in the comparison of registered account fees table, the cost per year for these accounts ranges typically from $25 to $50 for balances that range between $15,000 and $25,000. Prior to the announced change, CIBC Investor’s Edge, like many other Canadian discount brokerages, charged clients who had less than a certain balance (in this case it was $15,000) a $50 annual fee on the account. In the case of CIBC Investor’s Edge, this fee would normally have been charged at the beginning of every September, so the recent announcement is a bit of a bonus for those existing clients who would have had to pay.

All the cool kids are doing it

CIBC Investor’s Edge now joins the likes of Credential Direct and Questrade in providing no-fee RESP accounts that self-directed investors can manage.

While independent discount brokers such as Questrade and Credential Direct may not provoke the bank-owned discount brokerages into action, now that CIBC has eliminated this fee, other bank-owned discount brokerages might have to take notice.

Traditionally the ‘convenience’ factor has been a benefit that bank-owned brokerages could offer over the independent discount brokerages. This latest move by CIBC Investor’s Edge, however, may provoke the other bank-owned discount brokerages to get creative on how to sweeten their offers to self-directed investors who also enjoy the convenience of doing all of their banking and investing in one place.

Make sure to do your homework

Like all offers, however, it is important that those considering the offer understand what the associated costs are of doing business with any brokerage. Factors such as commission charges, inactivity fees, minimum trading requirements, exit costs and overall accessibility and support should still be taken into account when choosing a discount broker. There are also restrictions and regulations associated with RESPs that self-directed investors should understand ahead of deciding to use them.

Overall, the fee removal by CIBC Investor’s edge will benefit investors with smaller RESP balances (those less than $15,000). Hopefully the move will encourage more investors to consider the benefits of RESPs and making their savings work hard so that their kids won’t have to.

(Editor’s Note: At the time of publication, the fees and commissions schedule/section of the website for CIBC Investor’s Edge was not updated to reflect their announced offer, however they have been alerted to this discrepancy and are working to address it)

For further reading on RESPs:

Posted on September 6, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup – September 6, 2013

With the end of the first week in September, there was certainly lots of news around the globe and in the markets to keep investors on the edge of their seats. Within the discount broker space, there were some noteworthy deal extensions that showed up late into week one of September. From the investor side of the fence, metrics on trading activity continue to look encouraging for retail participation and investors debate the offerings from some popular discount brokerages. Finally, there are a couple of updates/reminders for discount brokerage related events taking place over the weekend.

Deal Extensions

This past week, BMO InvestorLine decided to extend their Air Miles promotion deadline through to the end of September. While either an extension or a new deal was anticipated, it was interesting to see the deadline for the deal get pushed back for just 3 more weeks. By comparison, Scotia iTrade decided to extend their 100 commission-free trade offer until November 25^th. To find out more about the latest updates and other discount brokerage deals for the month, click here.

Trading Activity Continues to Rise

With a new month comes the data on trading volumes supplied by Interactive Brokers for their previous month. In the latest results, trading volumes and customer accounts were both up on a yearly and monthly basis. Their recent earnings report also cited improved trading activity among clients which continues to confirm investors are coming back to stock markets.

Discussions about Discount Broker Fees

Chatter on the forums this week featured some interesting threads about discount brokerages. When it comes to discount brokerages, one of the popular points with investors is fees. This discussion on the RedFlagDeals forum was an interesting look at comparing TD Direct Investing with Questrade and shows that price and perceived value are not the same thing.

In a second forum, the Financial WebRing, this post contained some interesting perspectives about opening an account with BMO InvestorLine and about getting a better deal when opening an account.

Updates

Questrade announced will be releasing a minor software update to their IQ edge platform this weekend. For more details on the update click here.

Reminder

Options Education Day takes place in Montreal this weekend. Several discount brokerages are sponsors of the event and should be there to answer questions about trading options on their platforms. For more information about the event, click here.

Posted on September 1, 2013 by user — Leave a comment

Discount Brokerage Deals & Promotions – September 2013

Updated Sept. 20/13

September is here, and with it comes a number of deal extensions from Canadian discount brokerages. Going into the home stretch of the calendar year, several factors might be at play that explain why there are more ‘extensions’ of deals than new deals appearing just yet.

First, a number of financial firms that have their year-end (mostly at the October 31^st mark) which means some firms might want to figure out marketing plans (and budgets) based on the year’s performance and market conditions. In other words, it might be a bit of coasting as far as deals are concerned until the results from the year are tallied up.

Another important factor is that stock market activity (and therefore investor activity) tends to pick up at the tail end of the year. More investors in the marketplace should mean that discount brokers will be jockeying for clients. Recent history has shown, however, that investors have been reluctant to come back to stock markets and only this past year have trends started to show a return of retail investor interest. As the retail investor landscape evolves, there may be some caution around the size of deals that will be put forward.

Lastly, several discount brokerage rankings get published within the last calendar quarter of the year including the “JD Power Investor Satisfaction Survey”, the “Online Broker Rankings” from Rob Carrick at the Globe and Mail and the Morningstar award for “Best Discount Broker”. Marketing teams will be in ‘wait and see’ mode to respond to these popular evaluations.

Putting these pieces together, it might help account for the fact that this month there are more ‘extensions’ of several offers rather than the introduction of anything new just yet. Also, at the time of writing this post, it is Labour Day weekend and there are still some discount brokerages who haven’t updated their offers on their websites.

Nonetheless, there are a couple of things that I’ll be on the lookout for in early September which will likely result in an update of the deals section in the early part of this month. Most notably, the BMO InvestorLine ‘AirMiles’ deal expires September 4^th so there should be either an extension or a new promotion that is coming up.*UPDATE*: BMO InvestorLine has extended the deadline for the AirMiles promotion to September 30th.

Expired Discount Brokerage Deals:

As of the publishing of this post, there were ~~three~~ two deals that expired at the end of August:

National Bank Direct Brokerage’s Margin Account deal
Questrade’s Unlimited trading offer
~~Scotia iTrade’s 100 commission-free trades deal~~ *UPDATE*: This deal has been extended until November 25th.

Of the three deals, the lapsing of Scotia iTrade’s commission-free trading offer means that Disnat and Questrade are now the two discount brokerages offering trading commission-credits. *UPDATE*: The good news is that Scotia iTrade’s commission free offer is back and such there are now three discount brokerages offering commission-credit promotions.

Extended Discount Brokerage Deals:

This month ~~three~~ four discount brokerages have extended several of their deals and promotions.

Disnat has decided to extend their $300 commission credit deal out until December 31^st, 2013 and also have changed the promo code.
Questrade has extended their ‘100 free trade’ offer out until November 30^th – note that the promo code for this deal has been changed too.
Questrade has also extended their ‘Advantage’ linked deal out until the end of October and also updated the promo code associated with it.
Scotia iTrade has extended their refer-a-friend promotion deadline out for another month to September 30^th.
*UPDATE* – BMO InvestorLine Airmiles promotion extended out until September 30th.
*UPDATE* – Scotia iTrade extended 100 commission-free trade offer deadline to November 25th.

New Discount Brokerage Deals: (Updated 9/20/13)

At the outset of September there are no new deals to report however there is the deal from BMO InvestorLine that is set to expire in the first week, so there may be something new coming soon. (*UPDATE* : this deal has since been extended)

(Update 9/9/13) A 25 free trade deal from RBC Direct Investing has been advertised on their website; included as part of the offer is a transfer fee promo
(Update 9/20/13) HSBC InvestDirect is offering 50 free trades to new clients
(Update 9/20/13) Scotia iTrade has announced a $150 cash back offer for new or existing clients making a $100,000 deposit

Brief Description	Minimum Deposit Amount	Commission/Cash Offer Type	Time Limit to Use Commission/Cash Offer	Details Link	Deadline
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
Open a new trading account with HSBC InvestDirect and receive 50 commission-free trades good for use up to 60 days after account opening.	n/a	50 commission-free trades	60 days	For more details on the free trade offer read the terms and conditions and also the frequently asked questions	December 31, 2013
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
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
Open a new account (TFSA, Margin or RRSP) by November 30 with A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code QT100 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	November 30, 2013
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:$99.90) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $499.50)	60 days	Refer A Friend to Scotia iTrade	September 30, 2013
Open and fund a new Scotia iTRADE account with at least $25,000 before November 25, 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	November 25, 2013
Open and fund a new account with $25,000 or more and you will qualify for 25 free trades. The offer code changed with different visits to the site, so click through the RBC Direct Investing homepage to generate a valid code. There are a number of terms and conditions attached to this offer, be sure to read see the details link.	$25,000	25 commission-free trades (no restriction on commission rate listed)	365 Days	25 Free Trades Offer Terms & Conditions ; To generate an offer code, go to the main site and click the ad for the offer here	November 30, 2013
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
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
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 ADVANTAGE13 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	October 31, 2013
Disnat isoffering 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 Disnat300. See details link for more info.	$50,000	$300 commission credit	6 months	Disnat $300 Commission Credit Promo	December 31, 2013
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
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 30, 2013
Open a new account with Scotia iTrade and fund it with at least $100,000 to receive $150 cash back. Use code FALL2013 when signing up. The offer is open to new and existing clients. There are many terms and conditions, be sure to read the details link.	$100,000	$150 Cash Back	Payout occurs after June 30, 2014.	To learn more about the deal terms and conditions click here	November 25, 2013

Transfer Fee Deals

Brief Description	Maximum Transfer Fee Coverage Amount	Deposit Amount for Transfer Fee Eligibility	Details Link	Deadline
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150.	$150	$25,000	Transfer Fee Promo	none
Transfer $25,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees	$135	$25,000	Transfer Fee Rebate Details	none
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
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
Disnat is 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 Disnat300. See details link for more info.	$150	$50,000	Disnat $300 Commission Credit Promo	December 31st, 2013