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Discount Brokerage Weekly Roundup – December 27 2013

A Happy New Year TraderAmongst Canadian discount brokerages, it was supposed to be a quiet ride into the end of 2013. Alas, it was not to be. With a Boxing Day promotion launched by one of Canada’s discount brokerages this past week, the competition for Canadian investors officially hit a new high.  This bodes well for self-directed investors going into 2014 as both pricing and services can be expected to improve from discount brokerages looking to gain an edge on one another.   In the final (and shortened) weekly roundup of 2013, we’ll take a look at this latest disruptive deal as well as some of the interesting chatter from investors around the forums and social media.

Questrade Throws a Jab by Offering up a Boxing Day Promotion

Discount brokerages and the holiday season have historically been a poor mix.  Questrade, however, seems to have defied the unofficial tradition amongst discount brokerages to ‘take it easy’ by offering up a Boxing Day promotion.   Specifically, Questrade announced on Boxing Day they are offering up 25 commission-free trades to new accounts depositing at least $25,000.  Moreover those 25 trades are good for all of 2014.  This deal takes aim at a similar offer from RBC Direct Investing, who for a short while, claimed that they were the only discount brokerage offering commission-free trades that lasted a year.  Click here to learn more about the Questrade Boxing Day promotion.

Tweet from Questrade about Boxing Day promotion

From the Forums

While a lot of folks were out comparison shopping the latest TVs and tech toys this past week a handful of folks also were shopping around for discount brokerages.  This week, there is a post that pitted broker vs broker that was of particular interest as well as a lesson one investor got away with learning on the cheap.

RBC Direct Investing vs TD Waterhouse (TD Direct Investing)

Up first was this post on Canadian Money Forum which was a lively debate on the strengths and limitations of a couple of bank owned discount brokerages.

CMF post - RBC Direct Investing vs TD Waterhouse

Fat Finger Trades

Many active traders have at least one bad ‘fat finger’ trade story and can relate to this post from the Red Flag Deals forum.  Although this user managed to get out unscathed, the lesson is an important one for traders to take heed of.


That does it for the discount brokerage weekly roundups for 2013.  Have a safe and happy New Year’s and here’s hoping 2014 is a great year in the markets!

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Discount Brokerage Weekly Roundup – December 20, 2013

Here we are just a few days away from Christmas and while it seemed that things would settle down going into the end of the year, the discount brokerage world has been anything but quiet.  In this week’s roundup, news of fees dropping from a major Canadian discount brokerage kicks things off.  Next, the major story, an online brokerage in the US takes a stab at completely commission free trading.  Finally, we round off with a trio of interesting topics for DIY investors courtesy of the Canadian investing forums.

National Bank Direct Brokerage Caps Fees

Earlier this week, one of Canada’s bank-owned discount brokerages, National Bank Direct Brokerage (NBDB), formally announced that they are making it easier for clients to qualify for exemptions to their annual administrative fees.   The fee schedule change actually rolled out at the beginning of December, well ahead of the formal announcement.

Under this new structure, it will now be possible to be exempt from this $100 annual fee if clients either: make at least 5 commission-generating trades (either equity, ETF or option trades) between June 1st & May 31st or have personal assets of at least $20,000 as of May 31st.  For more information, click here.

Startup Online Broker Robinhood to Offer Free Stock Trading

Yes, that is correct. A bombshell of an announcement came out of the US online brokerage market when startup broker Robinhood revealed that they are going to be offering commission-free stock trading.

While the details as to when the service will roll out and exactly who will be able to use it, the fact that pricing has now hit the ultimate low is cause for concern amongst discount brokerages in the US as well as in Canada.   For now though the roll-out plan will be done in stages and in the US only for those states where the service meets regulators’ approval.

Whether or not this startup can succeed where others have stumbled (like Zecco) in offering commission free trading remains to be seen however one of the early investors in the company is Google Ventures, so for the moment they’ve got substantial support to try and roll out the idea.   Click for more info or to sign up for the RobinHood account.

Here is a collection of articles that provide some additional information:

From the Forums

This weeks forums were abuzz with year end reflections and prognostications for 2014. Tucked in amongst the year end talking points were a couple of interesting threads on what can go wrong when transferring into/out of a brokerage account, using borrowed funds to invest, and keeping more than one brokerage around.

A Messy Breakup

While not a typical kind of occurrence, this post by one user in the Red Flag Deals forum describes their nightmare-like scenario of what can go wrong when switching trading account providers.   Other forum users chime in to provide a more balanced view, however it serves as an important reminder that when moving account holdings between institutions, it is important to stay on top of the transition.

Something Borrowed

In the following post, the forum user ‘inverstmentmentjinja’ pitched the idea of borrowing money from a line of credit to invest.  While borrowing to invest is a common strategy (especially on margin), read what the forum users had to say about some of the math used to support the strategy.

The More the Merrier

In this quick post, the user wants to know which other members have decided to have trading accounts at multiple brokers.  The practice is actually quite common when retail investors want to either diversify who they have their money with, or want to use features at one broker that aren’t offered at another.

Tip of the Hat

Thanks to the Financial Webring forum readers IG17 and brucecohen for recommending & checking out the discount brokerage deals & promotions section in this post.

Happy Holidays!

That does it for this week.  Have a safe and wonderful holiday season and thanks to everyone who’s made 2013 such a fantastic year for SparxTrading.

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How Fantasy Hockey Can Teach You To Be A Better Investor

If you’ve ever watched a hockey game, you’ve probably seen team owners and managers high up in the stands stoically gazing down at the action.  Even though they’re watching the same game as many of the cheering fans, the team managers and owners’ view of the action is far different than that of the crowds below them. In the minds of owners and managers, wins and losses translate into real business revenue gains and losses and ultimately portfolio value being created or getting destroyed for someone.

While you don’t have to put on a power suit or practice an emotionless stare, getting into the shoes of a hockey team owner/manager can offer a great window into how to translate team performance into portfolio value. Thankfully, in today’s world there are a number of great fantasy hockey leagues (such as Yahoo or ESPN) that make it easy for users  to experience many of the same thrills and spills of managing a team for a whole season.  As with the finance world, there is no shortage of stats, analysis and commentary to wade through in order to make a decision.   Further, planning and executing trades can be as simple or complex as a league permits.

On the whole, the business of managing a hockey team offers a fun way to learn and apply some of the core principles of investing. This article looks at 3 ways that managing a fantasy hockey team can teach you to be a better investor (and also provide a great reason to spend so much time immersed in hockey for the season).

Lesson #1: Asset Allocation

Team Canada Mens Hockey Team Scored Gold

When investing in the real world, the prevailing wisdom states that portfolios ought to have different asset classes (such as stocks, bonds and cash) portioned out accordingly.  As the owner of a fantasy hockey team, your players are your assets. Like a financial portfolio, a hockey team requires a mixture of players each playing a particular role.  While financial portfolios have more flexibility in the concentrations of assets, fantasy hockey teams require managing the right mix of players and positions and achieving the right mix of growth (with rookies), stability (veterans), offense (point production) and defense (preventing points against).

Lesson #2: Risk Management

Prepare Your Portfolio To Take Some Hits

Injuries, slumps, illnesses, personality clashes, dirty hits, run-ins with the law – there’s a long and unpredictable set of circumstances on and off the ice that can sideline a player. Just like investing in the stock market (or any other market), in fantasy hockey there is no such thing as a sure thing.  Chasing the high flying players (stocks) at the expense of having depth and stability on the bench (portfolio) means that one unfortunate incident can seriously impair the entire portfolio’s performance. In fantasy hockey, however, the losses are nowhere near as catastrophic as those in the real world.

Savvy investors understand that risks are ever present and so they also understand that in order to successfully invest, risks have to be minimized (where possible).  Equally savvy fantasy hockey team owners know that having several players who are strong in a particular category (such as faceoffs or goal scoring) helps to underwrite the risk of one really great player in that category getting injured.

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Discount Brokerage Weekly Roundup – December 13, 2013

Vancouver Snow PloughThis week Canadians learned that for some of us, getting letters to and from the North Pole may get harder and also more expensive now that Canada Post may cut back on mail deliveries. Not to fear though, SparxTrading is still delivering the best roundup of Canada’s discount brokerage related news, rain or shine, snow or sleet (which basically describes Vancouver weather this past week!).

In this week’s roundup it looks like most of Canada’s discount brokerages are gearing down although one firm might be starting to gear up for some changes in 2014.  The forums were much livelier now that year-end is approaching.  Several threads covering foreign exchange, margin accounts and trying to invest via a corporation make up this week’s offering.

The Conditions are Right

The deals section of SparxTrading got a little update thanks to Scotia iTrade updating the terms and conditions of their 100 commission-free trade offer. They’ve extended the deadline for the offer out until March 2014. While this deal looks like it’s here for a while, there are several others that are set to expire soon (including the TD Direct Investing offer ending on December 20th). Check the discount broker deals section for more information on the new deadlines and the deals set to expire this month.


Credential Direct is hoping to find out more about what online investors are thinking by running an online investor survey.  To help make things more interesting, they are offering those who complete the survey a chance to win a Macbook Air.

From the Forums

This past week there was lots of activity around the various Canadian investing forums.  This week’s roundup features 3 posts that are particularly relevant for do-it-yourself investors.

Explaining Norbert’s Gambit

For those unfamiliar with Norbert’s Gambit or what it is used for, the following post illustrates this maneuver being used to reduce foreign exchange fees at RBC Direct Investing.

Margin accounts and buying power

What does buying power actually mean in a margin account? Can users access margin funds via withdrawal? In this post from Canadian Money Forum, a user named “Skye” as well as the other forum members try to get to the bottom of why there was a difference between the cash withdrawal limit and the buying power in Skye’s Scotia iTrade account.

Investing via a Corporation

Taxes and investing/trading can be complicated. Doing so from within a corporation can be even more complicated. In this forum thread, the idea and possible advantages or disadvantages of investing from within a corporation are debated.  Given that there are so many moving parts from a tax and accounting perspective, ultimately it is important for individuals to consult their accountant (at least) to properly understand the possible benefits and costs. Nevertheless, there are some interesting points that get raised here.

That’s all for this week.  With 12 shopping days left until Christmas, good luck to those of you who still have lists of people to buy gifts for.  As a special treat – we’ve put together 12 days of investor tips that we’ll be counting down each day starting today.

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12 Days of Investor Tips

12 Days of Investor TipsIn the spirit of sharing, we’ve put together a special series of tips for investors collected from throughout’s collection of great articles, interviews and reports.  Be sure to check back here daily through December 25th for the latest tip or follow us on Twitter to get updates on when they’re released.

Investor Tip #12: Know When to Take a Loss

This gem was provided to us from veteran trader Victor Adair as part of the series Mistakes Investors Make. Click to read about why Victor Adair thinks its crucial that investors know when to take a loss.

 Investor Tip #11: Take Ownership of Your Investing Decisions

This next tip comes to us from an interview with Josef Schachter. In our interview, he shared some brief but insightful comments for investors. Chief among his thoughts was the importance of knowing what you (as an investor) are choosing to invest and who you’re choosing to invest with. Read more of what Josef Schachter had to say here.

Investor Tip #10:  Buy the Business, Not the Symbol

Ryan Irvine, from Keystone Financial, provides this piece of investing wisdom.  Often times investors can get caught up in the hype of a particular name or stock symbol and forget about what it is that gives the stock real ‘value’.  Click the link to learn more about Ryan Irvine’s perspective on avoiding this common investing mistake.

Investor Tip #9: Build a Solid Foundation

The saying goes, “it is a wise man who learns from his mistakes but it is a fool who doesn’t learn from the mistakes of others.”  The benefit of hearing what experienced investors have to say about getting involved in markets is highlighted in this video on getting started with investing.  Noted expert on business valuation Ian Campbell provides his 10 timeless tips for all investors to consider when participating in stock markets.

Investor Tip #8: Pick the Right Advisor for Your Needs

When it comes to investing, there is no shortage of opinions or trading styles. Learning to find the right financial advisor for your investments, however, entails finding someone who you can share ideas and opinions with and who shares a similar style of investing. In this video tip, Reg Ogden shares his views on how to pick the right financial advisor.

Investor Tip #7: Make Sure to Have a System

Whether you prefer technical trading or value investing, having a system (and the discipline to follow the rules of the system) is crucial to successful trading. For beginners, there are some additional considerations that need to be made before jumping in to the investment pool with both feet. Find out what 3 tips Danielle Park has to offer for beginner investors.

Investor Tip #6: Trading is Simple but not Easy

Many people believe that trading on the stock market basically comes down to making a few clicks with a mouse and magically money will appear. What many of those people don’t realize is that trading is about making decisions that involve money – and the risk of losing it. That little cognitive monkey wrench can wreak havoc when it comes time to decide what actions to take and when to take them. These tips from Stockscores founder Tyler Bollhorn help to explain why trading may be simple but not easy.

Investor Tip #5: Trading is Not Gambling

While the element of uncertainty is common to both trading and gambling, there is a big difference between speculating with structure and simply guessing to be entertained. Read more about this concept in the summary of chapter 3 of The Mindless Investor along with two other really important points related to becoming more aware of your investing personality.

Investor Tip #4: Becoming a Successful Trader Takes Time and Training

Becoming a great trader or investor doesn’t happen overnight. Like any skill, trading takes time and effort in order to be mastered. Today’s tip comes from chapter 5 of The Mindless Investor, which explains why taking it slow and steady is the better way to improve as an investor.


Investor Tip #3: Use Your Size to Your Advantage

Unlike most institutional investors, retail investors aren’t going to be managing multi-million or billion dollar portfolios. For that reason, the kinds of trading opportunities and strategies that smaller investors can take advantage of are sometimes out of range for larger players. In this series of tips from chapter 6 of The Mindless Investor, find out how smaller traders can use their size as an advantage.

 Investor Tip #2: Remember the 3 D’s of Investing

With all of the information and/or noise that investors have to filter through, one of the best tips for investors to remember is to try and keep things simple. Unfortunately, that’s easier said than done. There are, however, 3 important traits that all successful investors and traders share. Read more about how the 3 D’s of investing: Discipline, Diligence and Decisiveness, can help improve your trading or investing performance.

Investor Tip #1: Consider the Risk vs Reward

If there were a golden rule in trading or investing, considering the risk vs reward on any transaction would be it.

All experienced traders and investors accept that there are going to be instances where they ‘get it wrong’ or when they ‘get it right but at the wrong time’. The savviest traders and investors, however, manage risk from the outset by identifying whether there is a plausible prospect for a reward, and whether that reward substantially outweighs the risks (usually by a factor of 2 or more) associated with the trade. By focusing on those candidate trades that offer a better risk/reward profile, not only are you shifting the odds for success in your favour, but you’ll also likely make fewer trades and have an easier time researching opportunities and managing your portfolio.

We hope you’ve enjoyed the 12 days of investor tips. One of the great things about trading in the stock markets is that it changes constantly and so it requires a commitment to lifelong learning in order to stay in top trading form. Whether you’re a passive investor or an active trader, remember to keep earning you have to keep learning.

 Have you got an investing lesson or tip that you would like to share? Feel free to do so in the comments section below.


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Discount Brokerage Weekly Roundup – December 6, 2013

This week’s discount brokerage roundup finds us crossing into the home stretch of 2013.  Now that December is finally here things will almost certainly begin to gear down on the discount brokerage front until 2014.  Even so, this past week had a number of stories from various discount brokers including a new fee & commission schedule taking effect at a major discount brokerage, an order type being removed from another brokerage, several discount brokerage-related events that popped up on the radar and finally a couple of interesting stories from the forums for good measure.

Trading Places

Speaking of measure, it being the beginning of the month, trading metrics from Interactive Brokers for November were released earlier in the week.  Trading activity (as measured by daily average revenue trades (DARTs)) showed an increase of 16% year over year however it was about flat compared to October.  A very interesting figure was the growth of customer margin loan balances which was $12.6 billion at the end of November compared to $9.6 billion from the year before.  While the figures show quite a dramatic change from last year, on a month over month basis, activity and growth appear to be steady.

Mind the Fees

BMO InvestorLine’s updated commission fee schedule took effect December 1st, with mostly nominal increases to their AccountLink service fees making up the bulk of the changes.  For more information on the new fee schedule, check it out here. Incidentally, there will also be another fee change coming in May of 2014 (details of which can be downloaded here).

Stopped Out

Scotia iTrade announced to clients that they are no longer accepting stop market orders on Canadian stocks.  As part of the Investment Industry Regulatory Organization of Canada (IIROC) review on ensuring investors receive the best available pricing at the time of order execution, stop market orders were put under the microscope to determine whether or not they were beneficial or harmful to investors.


Ultimately, IIROC strongly recommended that discount brokerages ensure their clients use stop limit orders (i.e. that clients should be entering in limit prices) rather than stop market orders. For the full report (13-0191) outlining IIROC’s position on stop market orders, click here.

IIROC guidance on stop loss orders
Excerpt from IIROC’s guidance on handling stop loss market orders

An Eventful Week

The SparxTrading Investor Education Calendar for December is full of interesting seminars/webinars from Canada’s discount brokerages. This past week two discount brokerages who don’t normally hold many seminars, Credential Direct and CIBC Investor’s Edge, held seminars on researching for investing ideas using Recognia’s Value Analyzer tool and Morningstar Research Tools respectively.

Two brokerages geared towards active and professional traders, JitneyTrade and Interactive Brokers, were among the sponsors of the Canadian Annual Derivatives Conference (organized by the Montreal Exchange) in Mont Tremblant this past week.   Although it was geared towards investment industry professionals, there were several interesting discussion topics which will undoubtedly also impact retail investors.

From the Forums

TFSA/RRSP room after an options trade loss

This past week, two forum discussions were definitely worthy of sharing.

The first was a thread from the Canadian Money Forum on taking a loss on an options trade and how (or if) it impacts the contribution room.

Unpublished commission rate deals

Regular readers know that the discount brokerage deals section covers most of the deals offered by Canadian discount brokerages.  Occasionally though, there are offers extended by discount brokerages to clients as an incentive to do more business with them (e.g. transfer a mortgage or loan over as well as open an investment account). This is known as ‘relationship’ pricing and while not every brokerage offers it, it certainly doesn’t hurt to ask.  The following thread covers one forum user’s experience with trying to get a better commission rate with BMO InvestorLine.


That’s a wrap for this week, have a great weekend and happy shopping (only 19 days left until Christmas!)!

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Investor Financial Statement Survey Offer from Dalbar Canada [Sponsored]

Dalbar LogoAs part of an ongoing study, Dalbar Canada, a leading financial services research firm, is gathering feedback from Canadian retail investors for the purpose of improving the content and design of financial investment statements (including RSP, pension, non-registered account statements, insurance etc) commonly used by Canadians.

The survey takes approximately 15 – 20 minutes to complete and the data collected will remain anonymous.   Once the survey is completed, send a confirmation email to [email protected] to redeem your choice of a Tim Horton’s or Starbucks gift card (approximate value $5).  The deadline to complete the survey is December 15th, 2013 at 11:59 ET.

To participate in the survey, click here. If you have friends/family you’d like to share the link with as well, please feel free to do so.

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Discount Brokerage Deals & Promotions – December 2013

*Updated 12/27/13*

It had to happen sometime – Questrade has now become the first Canadian discount brokerage to offer a Boxing Day promotion.  The deal being offered is 25 commission-free trades that do not expire until the end of 2014 for a minimum deposit of $25,000.  Like any good Boxing Day deal, this offer is set to expire on January 2nd, 2014 which doesn’t give folks a lot of time to act if they’re interested. This offer now directly competes with RBC Direct Investing’s most recent 25 commission-free trade offer.  For more information on the latest Questrade deal, see the table below.

*Updated 12/12/13*

Hot off the heels of Black Friday, many folks are still in deal hunting mode.  For those shopping for a discount brokerage account, fear not as there are still some decent deals to be found.  While some deals were announced at the middle of last month, two very big deal extensions are a part of this month’s discount broker deal offers.

Expired Deals

The deals that have officially expired as of the end of November are:

  • Scotia iTrade’s $150 Cash Back Offer

Pending Deals

[Update 12/12/13: Scotia iTrade has updated their website terms and conditions for these deals both of which are now in the extended deals section]

This is a new status of deal which reflects the fact that deals are still appearing on the discount broker’s website at the time of publication however the terms and conditions information states that the deals are technically expired.  These will be reviewed again within the week to see whether they are going to be renewed.  The deals currently ‘pending’ are:

  • Scotia iTrade’s Refer-a-Friend Offer
  • Scotia iTrade’s Flight Desk Offer


Extended Deals

Some good news for deal hunters is that a pair of deals from Questrade and RBC Direct Investing have been extended. Questrade has extended its 100 commission free trade offer until the beginning of March 2014 whereas the deal for 25 commission-free trades from RBC Direct Investing has been extended out until further notice.

The deals that have been extended are:

  • RBC Direct Investing’s 25 Commission Free Trade Offer
  • Questrade’s 100 Commission-Free Trade Offer
  • Scotia iTrade’s 100 Commission-Free Trade Offer
  • Scotia iTrade’s Refer-a-Friend Offer

New Deals

[Update 12/27/13: Questrade has launched a boxing day promotion where individuals opening a new account with Questrade and depositing $25,000 can receive 25 commission-free trades which are good for use for all of 2014. This deal is a limited time offer with an expiry date of January 2, 2014. ]

Although technically not a new deal, the Questrade iPad mini or $250 cash back offer is being included in the list of deals. Previously a similar offer was part of a ‘contest’ and not a stand-alone deal which is why it was not listed. In addition, TD Direct Investing revived its 50 commission-free trade offer in the middle of last month. That deal expires on December 20th for those who might be interested in opening a TD Direct Investing account before the end of 2013.

As always if there are any new deals you hear of or if there’s any that have been missed, drop us a note here.

Special Offer [Sponsored]

From now until December 15th, financial research firm Dalbar is collecting feedback from Canadian investors on the financial statements they receive from their financial/investment service providers. They are offering a $5 gift card from Starbucks/Tim Hortons for completion of their survey (~15-20 mins). For full details, click here.

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 March 1 2014 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 March 1, 2014
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 December 31, 2013
Scotia iTrade Open and fund a new Scotia iTRADE account with at least $25,000 before March 31, 2014 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 March 31, 2014
Open a new account at Questrade by January 2, 2014 and fund it with a minimum of $25,000 to receive 25 commission-free trades which can be used throughout 2014. Use offer code BOXING13 when signing up for the account to qualify. Be sure to read the terms and conditions associated with this offer for more details. $25,000 25 commission-free trades End of 2014 Questrade Boxing Day Promo January 2, 2014
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, click here none
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
Open a new account or transfer new assets of $100,000 or more and choose between receiving either a)A 16GB iPad Mini or B)$250 cash back. Be sure to choose the appropriate code (IPADMINIW13 for the iPad Mini and CASH250W13 for the cash back offer) for each offer. There are several important conditions so be sure to read the terms and conditions for this offer. $100,000 A) iPad Mini (16 GB) [~$270-320 value] B) $250 Cash Payout/iPad delivery occurs after 30 days. iPad Mini or $250 Cash Back March 1, 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