Posted on Leave a comment

Discount Brokerage Weekly Roundup – Nov. 29 2013

Bullish on DealsWith bargain hunters being bullish on all kinds of deals, this Black Friday edition of the weekly roundup will hopefully be enjoyed on the screens of some newly purchased electronic goodies.   While the Black Friday madness has yet to hit the discount brokerage world (*yet*), there was still quite a bit of activity to report on.  This past week another discount broker was crowned “best online brokerage”, there was a roll out of practice accounts from a major discount broker and low fee mutual funds start to pick up steam.

And the award for best online brokerage goes to…..

It’s been a busy year for the titles of best discount broker/best online broker.  This year, 7 out of the 14 major Canadian discount brokerages (HSBC InvestDirect, Scotia iTrade, Interactive Brokers, National Bank Direct Brokerage, BMO InvestorLine and Virtual Brokers ) have won some kind of  ‘best’ title in the discount brokerage/online brokerage space. Of course, each of the rankings and evaluations uses a different method to evaluate the brokerages, however with so many “best online brokers” it can be tough to choose. Thankfully there are tools to help simplify comparing discount brokerages on price and key features. Look out for the full review of all of this year’s awards and a look ahead to 2014 coming soon.

Tweet from Morningstar on the Best Online Broker

This past week, BMO InvestorLine was awarded the crown for Best Online Brokerage by the judging panel (Paul K. Bates, Jonathan Chevreau, Jon Purther and Glenn A. Lacoste) from the Morningstar Awards.  Although Qtrade did not win this year, they got a couple of honourable mentions.   For more information on the win, check out this press release and also this video interview of BMO InvestorLine President & CEO Viki Lazaris with Morningstar’s Ashley Redmond.

At Scotia iTrade, Practice Makes Perfect

Scotia iTrade has now widely rolled out practice accounts for those clients interested in trading with pretend money instead of real money.  Practice accounts are a great tool to help self-directed investors get oriented to their online trading accounts and become familiar with the process of trading.  For those seeking to improve their trading performance, practice accounts are also great tools for building discipline and testing trading strategies.  Other Canadian discount brokerages that offer practice online trading accounts include RBC Direct Investing, Interactive Brokers, Virtual Brokers and TD Direct Investing (US Trading Platform).

On the D List

Earlier this year, RBC Direct Investing announced that it was lowering the threshold for participating in the RBC Series D mutual funds.  Given the interest in low cost ETFs and mutual funds, this certainly raised more than a few eyebrows in the mutual fund industry. Fast forward to this week and it seems that interest is turning into action with the announcement  from RBC Direct Investing that BlackRock Canada, Invesco Canada and Mackenzie Investments will also be planning to roll out funds that fit into the Series D family.  Check out Rob Carrick’s article in the Globe and Mail for a good overview of the Series D funds and how they stack up against ETFs.

From the Forums:

Curiosity About the KIP

Amidst all the Black Friday deal hunting, on the forum, there was an interesting post about Virtual Brokers’ recently launched Kick Start Investment Program (KIP).  Check out what the investor tribe had to say to user Leahjz’s questions about using the KIP.

RedFlagDeals Forum Post on Kickstart Investement Program


That’s it for this week’s edition of the roundup.  Happy shopping everyone!

Posted on 2 Comments

Virtual Brokers Introduces New Ultra-Low Commission Plan: The Penny Plan

Lots of penniesWhen the penny was phased out, it was largely believed to be an insignificant little coin. For one Canadian discount brokerage though, they have cleverly fashioned this humble (and now obsolete) coin into a new offer that has become the Canadian discount brokerage industry’s worst pricing nightmare.

One of Canada’s newest discount brokerages, Virtual Brokers, recently announced that they are lowering their minimum commission on a trade from $0.99 down to $0.01 per trade as part of a new pricing plan, aptly named, “The Penny Plan”.   While physical pennies may be a thing of the past, the Virtual Brokers penny per share offering is very real and very compelling for investors looking to save on trading commission fees.

How low can you go?

Paying $0.01 commission per share is not new to Canadian discount brokerages or to Virtual Brokers for that matter.  Competitors to Virtual Brokers, such as Questrade, offer $0.01 per share trading and Virtual Brokers has been offering $0.01 per share as part of their “the 99”plan as well as their “per share” plan (learn more about ultra-low commissions plans here).  What is new, however, is that the minimum commission per trade has never been this low.

Questrade’s standard commission pricing plan is $0.01/share with a minimum charge of $4.95 and a maximum charge of $9.95 (+ECN fees).  Even on Questrade’s best pricing plan (the Advantage), the minimum cost per trade is $0.95.   While it is possible that pricing per share could drop to the sub-penny level, in reality this kind of pricing is generally offered for day traders who trade lots of volume (see Jitneytrade or Interactive Brokers for example).

How can Virtual Brokers offer this pricing?

Virtual Brokers is able to take an aggressive pricing approach because of their ability to clear their own trades using their own software.   Almost all other discount brokerages rely on paying a certain fee per trading ticket for the software that coordinates the actual order during a trade.  Rather than outsource that function, Virtual Brokers developed and deployed their own version in house and as a result, they’re able to pass through savings on a per trade basis that few other brokerages are able to match, let alone beat.

Posted on Leave a comment

Discount Brokerage Weekly Roundup – November 22 2013

Well when it rains in the discount brokerage world, it certainly pours. Fitting for November.  This week’s roundup looks back on a busy week filled with a major discount brokerage ranking being released, a very cool (and geeky) way to learn about options pricing as well as a frenzy of conversation about discount brokerages from the forums. It’s a full card so this roundup is 2 pages long – be sure to check out the ending for some sage ‘market wisdom’ courtesy of Guns N’ Roses.

2013 Online Brokerage Rankings are here

After a lot anticipation, the 2013 Online Broker Rankings were finally released this past week by the Globe and Mail’s Rob Carrick.  This year the online broker rankings went back to the ‘report card’ style evaluation of 12 Canadian discount brokerages, with each broker receiving letter grades rather than percentages.  In line with the past few evaluations (learn more about the historical online brokerage rankings here) the key criteria being measured were:

  • Costs
  • Account Info
  • Trading
  • Tools
  • Innovation

While getting called a cheap option by one of Canada’s largest newspapers may not seem flattering, for a discount brokerage in the midst of a price war the label is a badge of honour. The brokerage with the best overall ranking (and ‘cheapest broker’) for 2013 was Virtual Brokers (overall grade: A) for the second year in a row. The first runner up was Qtrade (overall grade: B+).

Despite being tied for third with RBC Direct Investing and Scotia iTrade, BMO InvestorLine was described as “the best bank-owned” online brokerage (each of these bank-owned online brokerages scored a B overall).  The media team at BMO published a release celebrating the claim. Incidentally, Questrade also received an overall grade of “B”.   The worst overall score received this year was a “D” and it was given to HSBC InvestDirect along with some pointed remarks about their offering.

Some new features in this year’s online broker rankings included comparisons of current margin rates, forex rates and costs for trading certain amounts of stock at each broker.  To read the online brokerage rankings, click here.  Also, stay tuned for the in-depth analysis of this year’s Globe and Mail online broker rankings coming soon.

Posted on Leave a comment

Discount Brokerage Weekly Roundup – November 15 2013

At the official halfway point in November, it seems like this month is poised to disappear faster than a message from (the now multibillion dollar valued company) SnapChat.  While the tech space looks like its poised for a bidding war, the discount brokerage space looks like it’s in for quite the price war.

In this week’s discount brokerage roundup, we’ll take a look at the ultra-low commission prices announced this week from one discount brokerage that are bound to make a big splash in the discount brokerage pool. Next, we’ll review a pair of contests from two different brokerages that reflect some of the more creative ways brokerages are trying to get the attention of retail investors.  Finally, there are a couple of interesting forum threads that shed light on starting out with investing as well as what to do with a modest portfolio.

Take a Penny, Leave a Penny

This past week, Virtual Brokers announced a price reduction in their already low trading commission that is sure to cause a stir with other Canadian discount brokerages as well as with investors looking to save on trading.  Virtual Brokers has now officially replaced their infamous “The 99” commission plan (which had a minimum of $0.99/trade) with “The Penny” plan which now sets the minimum amount a client can pay at $0.01 per trade.
The offer itself is a combination of clever marketing as well as aggressively low pricing.  Essentially the new “The Penny” plan from Virtual Brokers is the same as “The 99” except that the minimum charge is $0.01.  While several other brokerages have $0.01/share offers (most notably Questrade) the minimum charge per trade is higher than the new Virtual Brokers offer.   In an upcoming article, the new penny plan is detailed along with the other services announced in the news release – a new automatic savings program (Kickstart Investment Program) and a novel Direct Purchase Plan (DPP). In the meantime, there are a number of important details for individuals to pay attention to when considering Virtual Brokers’ new offer – such as the fact that pricing applies to trades made via the VB Webtrader platform.  For more details on “The Penny” plan, click here.

Reasons to Cheer

When it comes to running contests and promos for investors, Questrade is one of the most active discount brokerages.  This past week, they launched their latest contest on social media (Twitter &  Facebook) for football fans to tell them which fantasy trade either the Buffalo Bills or Atlanta Falcons should make to land them in the playoffs. The prize for this contest is a pair of VIP tickets to the NFL game in Toronto on December 1st between – you guessed it, the Buffalo Bills and the Atlanta Falcons. For more info on the contest, click here.

Just as one contest begins though, another big discount brokerage contest is wrapping up. National Direct Brokerage’s “Biggest Winner” officially wrapped up today bringing to an end several weeks of stiff trading competition.  Up for grabs were weekly prizes of $500 for best weekly portfolio performance and a top prize of $7500 for best overall performance and second prize of $2500.

From the Forums

Getting Started with Investing

A perennial favourite, how to get started with trading or investing  is one topic that always offers the chance to see how more seasoned investors answer tackle that question. In this post on Canadian Money Forum, the user ‘Nasha’ is a twenty-something looking to learn more about how and where to start on the investing journey. Check out what the forum members had to provide in terms of their own experience and guidance.

How to get started with investing


What Would You Do with $2K at Questrade?

Every portfolio has to start somewhere. For those with modest portfolios or who are just starting out, low cost discount brokerages offer an attractive opportunity to participate in the markets without eating up significant amounts in trading commission costs.  That said, how to get started with a modest portfolio size while also being prudent with managing risk poses a problem raised in the following post on Canadian Money Forum.  The user “swoop_ds” provides a few of the options being considered with what to do with $2000 in a recently opened Questrade account. Find out what trading ideas the rest of the crowd had here.

What to do with $2,000 at Questrade

That’s it for this edition of the roundup. Have a great weekend!

Posted on 2 Comments

Canned Fruit, Concrete & Carats: Vancouver Small Cap Conference 2013 Review

What do canned tomatoes, concrete and multi-carat diamonds have in common? They were among the investing opportunities discussed at this year’s Small Cap Conference in Vancouver.

The Small Cap Conference has traditionally been a smaller sized conference that provides investors the opportunity to learn about investing in small cap companies.  In keeping with previous conferences, the event was held in the eventing and structure of this year’s conference featured keynote speakers and company presentations.

This year, Ryan Irvine (Keystone Financial) and Brent Todd (Canaccord Genuity Wealth Management) both returned as keynote speakers and they discussed how they assess investing opportunities with small cap companies.  In addition, Ryan Glasser (Orefront Communications/Vadar) provided an update on the equity financing research tool Vadar one year after its roll out.

Keynote speakers

Getting a perspective from seasoned investors is a great way to put company presentations into context.  The two speakers did a great job of focusing in on some key points for attendees to pay attention to when thinking about investing in small cap companies.

Ryan Irvine

As was his usual style, Ryan Irvine provided a great context for investors looking to learn about and understand investing in small caps from a value-based perspective.  His read on the opportunities in the small cap space was that investing opportunities exist but they will be harder to spot given significant run up in small cap stocks over the past year.  Even so, one of the important tips offered by Ryan Irvine was to focus on the earnings per share when looking at a small cap company.  Growth in revenue is important but investors should not forget to be clear on what the shareholder gets out of a company’s revenues.  Some of the companies Irvine mentioned were High Arctic Energy Services (TSE:HWO), Parex Resources (TSE:PXT) and Enterprise Group (TSE:E)

Brent Todd

The presentation by Brent Todd echoed his sentiments from last year’s conference.  Specifically, he mentioned that investors sitting on the sidelines are only going to be there for so long given the current low interest rate environment. Those investors that have jumped into the markets over the past year, according to Todd, have probably had a decent run.  Some of the names quoted by Todd last year, such as WestJet or Rifco, however, have done more than “decently” since the last conference.  The key take-home messages from Todd’s presentation were that participation in the markets is required to capitalize on the gains.  Clearly there are real risks of financial loss when investing, however there also are positive “portfolio changing” opportunities to be found.   The key is to understand that it is possible to take some risk to make the reward – however large or small those rewards may be.  Names of interest mentioned by Brent Todd included Rifco(CVE:RFC) and Questor Technology (CVE:QST).

Company Presentations

This year’s company presentations represented an interesting mix of sectors and companies.  On the whole, the presentations were interesting and the speakers delivered a good portrait of their respective companies.

In all, 7 companies (listed below) presented and provided attendees with an overview of what their companies do, and what the investment opportunities and risks were in their business.

  • Greenstar Agricultural Corporation
  • CEMATRIX Corporation
  • Rock Energy Inc
  • VMS Ventures & North American Nickel
  • Diamcor Mining Inc.
  • Iplayco Corporation Ltd

Having the two keynotes precede the company presentations was nice as it allowed attendees to listen out for the “bottom line” to the investor in the company’s pitch.

Overall Impressions

This year there might be a signal that the appetite of retail investors for investing in the markets has improved – even over and above the lure of free food.

Official attendance figures came in slightly under 200 attendees – for those that came in late though, free seats were a rare commodity.  While modest in size, this year’s crowd seemed more enthusiastic to stick around than last year’s.  Equally impressive was that the attendees made the decision to come out on a Tuesday evening (sorry cheap movie night).

Numbers aside, it was the small, indirect measures of the crowd sentiment that were of particular interest.  In previous years the refreshment table was the center of attention at break time however this year it seemed like more individuals opted to chat with the exhibitors rather than fight the mob for a free snack.  In addition, the gift cards chosen (in order) by the winners were from Home Depot, Canadian Tire, Tim Horton’s and The Keg.

If these small measures are any indicator, it looks like investors are more focused on building winners rather than sitting back and celebrating them.

To learn more about upcoming conferences, you can check out the Small Cap Conference website or check out our investor education/conference calendar here.

Posted on Leave a comment

Discount Brokerage Weekly Roundup – November 8, 2013

The big news everywhere this week was the Twitter IPO.  For many individual investors, accessing the Twitter IPO ahead of public trading meant having to meet specific account requirements laid out by their discount brokerages.  Once TWTR did go live though, the frenzy of buyers helped to propel the opening day price up from $26 to as high as $55.

In a tribute to the debut of TWTR, this week’s roundup will feature discount brokerage news gathered from Twitter.

Financial Literacy Month (#FLM2013)

November (or “Know”vember) is Financial Literacy Month. A couple of discount brokerages are helping to spread awareness and connect investors to educational resources. Parent accounts of National Bank Direct Brokerage (@nationalbank) and Disnat (@DesjardinsGroup) shared the following on their feeds this week:

National Bank Direct Brokerage Tweet

Disnat Tweet

For those interested in following events and information related to financial literacy month on Twitter, keep track of #FLM2013.


#BMO InvestorLine in the Globe and Mail

A piece by the Globe and Mail’s Rob Carrick (@rcarrick)on the adviceDirect product from BMO Investorline got tweeted by the @BMO media team.  Interestingly while the article provides a balanced perspective on some of the merits and drawbacks of adviceDirect, the comments section has some very strong opinions on why adviceDirect seems like it is missing the mark with investors.

BMO Investorline tweet about adviceDirect


Finally, to stay on top of all of the discount brokerages on Twitter, you can access our discount brokerage Twitter channel.

From the Forums

Twitter also had made quite the splash on the Canadian investor forums.  In particular, the investor forum saw a rather large spike in activity around the launch of TWTR this week.  Aside from the Twitter hoopla though, there were also a pair of interesting threads on discount brokerages, specifically on Canadian Money Forum.

Questrade vs Interactive Brokers

In this first post, a new investor is looking to become more active and is wondering whether a platform geared towards active traders, such as Interactive Brokers, is a better choice overall than another low cost option, Questrade.  Fellow investors weighed in to provide some important tips.

Questrade vs. Interactive Brokers

Switching to TD Waterhouse (TD Direct Investing)

Questrade was also the focus of a different investor’s decision making.  In this post, an investor was trying to weigh the pros and cons of having their investment accounts at the same place they do their daily banking (TD), even if it means paying slightly more on commissions.  Hear what the community had to say about the potential move.

TD Waterhouse vs Questrade

That’s it for this week. #TGIF!

Posted on Leave a comment

Discount Brokerage Weekly Roundup – November 1, 2013

For many banks and discount brokerages, the start of November is not just the beginning of a new month but also a new fiscal year.  Going into the feverish sprint that is typical of a year-end means that attention was probably turned to getting the year wrapped up.  It also might help to explain why things were relatively quiet across the Canadian discount brokerage space this past week.

Quiet as discount brokerages were, Canadian investors have some interesting discount brokerage related news to look forward to this November. This month a pair of brokerage rankings are expected to be released – something that always generates quite a bit of buzz. Additionally, a pair of interesting articles on the discount brokerage industry provide contrasting perspectives on whether online investing will continue to grow or if it has peaked. Finally, the Canadian investor forums had some thoughtful and spirited perspectives on DIY investing for beginners and for more seasoned investors.

More Best Online Brokerages on the Horizon

Globe and Mail discount brokerage rankings are just around the corner and are sure to make waves when they are released.  This year’s selection should be interesting to watch as the previous year’s winner, Virtual Brokers, has had to digest taking over OptionsXpress Canada clients shortly after they were named ‘best online brokerage’ by the Globe and Mail last year.  To get up to speed on how Globe and Mail rankings are performed and previous results, click here.

In addition to the Globe and Mail rankings, the Morningstar Awards will be held on November 27th in Toronto and one of the categories up for grabs will be “Best Discount Brokerage”.   This award is ‘submission based’ meaning that a $1,000 fee is required to be considered as a contender.   Discount brokerages that wish to compete for the ‘best discount brokerage’ award will be assessed on a number of criteria including:

  1. Website
  2. Breadth of investments available
  3. Customer service
  4. Online tools/resources
  5. Costs

The jury for the selection of this year’s best online brokerage winner will include:

  • Jonathan Chevreau, Editor of Money Sense Magazine
  • Glenn A. Lacoste, President of Surviscor
  • Paul K. Bates, Assistant Professor of Leadership, McMaster Divinity College

For more information on the best online brokerage award from Morningstar, click here.

Questrade Chooses Fee Over Free

With the introduction of new data fees, Questrade clients may want to think twice before springing for their next cup of coffee.  It appears that Questrade is adding in another fee starting this November. Going forward, Questrade will be charging $1.99 per month for streaming quotes for NASDAQ’s basic data feed. Snap quotes will still be free however, so users can access quotes by hitting refresh.  For more information, check out Questrade’s blog post here.  Of course, one question that has been brewing – where are Questrader’s finding coffee for $1.99?

Online Investors Waning or Still Going Strong?

A pair of interesting articles shed two different perspectives on the retail investor in the US.  In the first piece, there is some noteworthy data that shows the scale of the retail investor shift away from traditional financial intermediaries (brokers) and into more direct or self-serve style investment portfolio tools and services. While the numbers are staggering, there still appears to be the belief that traditional brokers will face more and more competition from direct brokerages as tools from the latter better serve and support clients to manage their own investments.   Of course, the next article goes on to point out that much of the growth and adoption of online investing appears to have taken place.  The argument in the second article uses US discount brokerages (such as TD Ameritrade and Etrade) and their account growth/trading data as proxies to suggest that for now there appears to be no big rush for investors to jump into equities.

From the Forums

Starting out as a new investor can be an intimidating exercise.  In this post on the investing forum, one self-described investing newbie discovered one of the basic rules of the stock market: that it is that everyone has an opinion.

Of course, every now and then the forums also turn up some interesting topics for seasoned/advanced investors too.  As this post shows, differing opinions are at the heart of what makes a market and it is interesting to see how different investors ‘rationalize’ their choices for one asset/investment over another.

That’s a wrap for this week. Have a great weekend and don’t forget to set your clocks back one hour (or you might just show up very early for market open!).

Posted on Leave a comment

Discount Brokerage Deals & Promotions – November 2013

*Updated Nov. 18th 2013*

It’s hard to believe that November is already here. Most of the Canadian discount brokerages appear to be moving cautiously towards the end of the year with no new deals being offered this month.  And so things appear quiet – perhaps too quiet. [updated  11/18/13] Well, it looks like the deal silence was broken after all. TD Direct Investing has announced a 50 commission-free trade deal (see details below) that runs until December 20th. This deal is similar to the one they offered in June 2013. 

With several major deals set to expire at the end of this month and the major discount brokerage rankings from the Globe and Mail expected out soon, the current holding pattern discount brokerages find themselves in could reflect a bit of calm before the storm.  Last year at this time, for example, Virtual Brokers held their 150 free trade offer alongside the news that they took top spot in the Globe and Mail discount brokerage rankings.

Two of the major discount brokerage deals set to expire at month’s end include the “100 commission free trade” offers from Questrade and Scotia iTrade.  Currently, BMO InvestorLine, Questrade and Scotia iTrade are members of the ‘century club’ of discount brokerages offering at least 100 commission free trades.

Another big deal set to expire at the end of November is RBC Direct Investing’s 25 commission free trade offer.  Amongst the big bank-owned discount brokerages, their 25 commission-free trades have the longest usage window. Clients taking advantage of this deal have up to a year to use the commission-free trades.

Don’t forget to check in this month as there may be additional activity in the deals section as/when the Globe and Mail discount brokerage rankings are announced.  The deal analytics section included last month will actually find itself having a section of its own going forward (link will be posted shortly).

As always, if there is any deal that was missed, just drop us a note.

Expired Deals:

This past October, two of National Bank Direct Brokerage’s deals expired. Gone are the refer-a-friend promotion and their unadvertised fixed commission rate promotion.

According to the terms and conditions attached to this off (on the Questrade website), Questrade’s 1 month of free trades associated with the Advantage offer has expired.

Extended Deals:

As they have done for the past few months, Scotia iTrade has once again extended their refer-a-friend offer for another month. The new expiry date for this promotion is November 30 2013.

New Deals:

No new deals announced yet.

Updated Nov. 18th  TD Direct Investing is offering between 3 and 50 commission free trades for new clients who deposit at least $5000 (for 3 free trades) or $50,000+ (for the 50 free trades).  For deposits of at least $25,000 transfer fees (up to $150) are also covered. See details below for more info. 

Discount Brokerage Deals

Company Brief Description Minimum Deposit Amount Commission/Cash Offer Type Time Limit to Use Commission/Cash Offer Details Link Deadline
Jitney Trade 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
Open a new account with TD Direct Investing before December 20, 2013 and deposit either A)$5,000 to $24,999 B)$25,000 to $49,999 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 Must use trades by 4pm (E.T.) February 28, 2014 50 Free Trades Offer December 20, 2013
Scotia iTrade 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 November 30, 2013
Scotia iTrade 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
Disnat 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
BMO InvestorLine Open a new account or upgrade an existing account with A) $50,000 or more OR B)$100,000 or more and receive either A)250 commission-free mobile-placed trades OR B) 250 commission-free mobile-placed trades + $250 cash back. Use Promo Code: MOBILE when signing up to qualify. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully. A) $50,000 B)$100,000 A) 250 commission free mobile-placed trades B) 250 commission free mobile-placed trades + $250 Cash Back Payout occurs after 6 months Free Mobile Trading/Cash Back Offer January 6, 2014
BMO InvestorLine 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
Scotia iTrade 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

Company 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 TD Direct Investing and they will pay up to $150 in transfer fees $150 $25,000 50 Free Trades Offer December 20, 2013
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 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 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