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Discount Brokerage Weekly Roundup – June 27, 2014

We kick off this week’s discount brokerage roundup with a little investing inspiration from the beautiful game. The inspiration is not that one can stare at a screen for hours only to see nothing change (hint hint to the traders out there) but rather that when things are fiercely competitive, don’t put it past opponents to try and take a bite out of one another’s business.

In this week’s roundup we take a quick tour through the deals set to expire as we head into July. Deals and promotions are where brokerages seem to be doing the most visible kinds of competing. Education will also be another area that is of interest to brokerages and we take a look at one major player taking an interest in providing investor education to a key market. Switching gears slightly, we take a look at competition of a different variety that has definitely caught the attention of many investors lately. Finally we cap the roundup off with an interesting brokerage comparison from the forums.

Deals Going on a Staycation

For many summer is a time to gear down. What is interesting to note about the Canadian online brokerages is who is still actively offering deals and promotions throughout a typically quiet period.

A quick look at our deals and promotions section for June shows an interesting ‘cluster’ of deal providers. Notably Questrade, Scotia iTrade, National Bank Direct Brokerage, BMO InvestorLine and Disnat (or under half of all brokerages) all have advertised deals and promotions.

Of the deals currently being offered, Questrade has 7, BMO InvestorLine 4 and Scotia iTrade has 3. Looking at the expiry dates on these offers, however, all of iTrades offers are set to expire whereas only one of Questrade’s (the Amazon gift card) is. Virtual Brokers’ commission-free trade offer is also set to expire at the end of June.

It will be interesting to see what Scotia iTrade decides to do for the rest of the summer. If history is any indicator, the Refer-a-Friend is likely to be extended. Whatever the case, it’s clear to see that those brokerages that either want to or have to grow their business are not taking it easy.

All the Saving Ladies

Thanks to Beyoncé yet again for a headline inspiration. Of course it is not entirely unrelated as this past week, the world famous artist may have had her own thoughts to share on her financial future at an interesting event sponsored by TD. Specifically there was an interesting session called #YourStoryYourFuture which focused on empowerment and encouraging industry to focus on financial planning for women.

Over the past year we have noted that TD Direct Investing has offered a number of “women focused” investing education sessions and so this recent event (which is reviewed here) appears to be part of a broader strategy to connect with women investors.

All the Leaves are Green

From one big green story to another. The marijuana-themed Green Rush conference took place in Toronto this past week. Conferences such as the Green Rush are fairly unique because the sector of (legal) marijuana-related investing is so new but it also is a great example of how quickly speculative capital can mobilize itself. In both Canada and the US, investment in marijuana producing companies (or those hoping to get into the business) has been one of the hottest news stories this year. Of course with a lot of the hype comes the rampant speculation.  Check out this interesting video recap on the conference from BNN and also this link on our Facebook page from Bloomberg which provides some food for thought when considering investing in the ‘Green Rush’.

From the Forums

This past week was a bit quieter around the forums. An interesting comparison question did come up in the Reddit PersonalFinanceCanada thread through and it looked at comparing two bank owned Canadian discount brokerages: TD Direct Investing and CIBC Investor’s Edge. Click here to read the interesting commentary provided by Redditors on the pros and cons of both options.

That’s a wrap for this week’s roundup. To all of our readers have a safe and enjoyable extra-long weekend. There’s plenty of screen action on the sports end but for those who are looking to get away from it all and enjoy some time on the water, here’s a little cute animal inspiration of how to do it in style.

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Discount Brokerage Weekly Roundup – June 20, 2014

It seems fitting to launch this week’s discount brokerage just ahead of the longest ‘day’ of the year. As the markets have proven yet again, the longs have it. Like the balance between day and night, however, there will inevitably be a shift. When that shift will happen, however, is anybody’s guess. For the moment, discount brokerages (north and south) are basking in sunshine, a thawing in investor attitudes towards participating in the market and hopefully not looking down.

This pre-summer solstice session of the weekly roundup features an interesting development and response to the high frequency trading stories unfolding in the US, a(nother) promotion launched by one of Canada’s independent online brokerages, news of expansion by an infrequent news maker as well as some interesting perspectives from Canadian investors on brokerages and DIY investing.

When the Market Gives You Lemons

Summertime and lemonade tend to go hand in hand. Of course, if you’re an online brokerage in the US, one of the biggest lemons that has been dealt to you has been the highly disruptive book ‘Flash Boys’ by Michael Lewis. The resulting debate on the benefits or harm that high frequency trading has (allegedly) caused for marketplace participants has quite literally put the squeeze on the stock prices of many US online brokerages.

This past week, however, as the US senate committee held proceedings investigating the practice of HFT, many online brokerages saw their stock prices rally – a sign that perhaps shorts (which had been on the rise for certain online brokerages) were starting to cover their positions.

An interesting twist in the HFT debate came via the form of an ad being run by Interactive Brokers. Specifically, Interactive Brokers’ CEO Thomas Peterffy took to the airwaves to specifically to tell clients and prospective clients that his firm ‘doesn’t trade against’ client orders. Check out the video below to see his take on why Interactive Brokers is saying “we’re one of the good guys”.

Welcome to Summer, eh?

While other brokerages are in somewhat of a holding pattern with regards to offering deals and promotions, Questrade recently launched yet another promotion aimed at acquiring new clients.

This past week, Questrade launched their ’25 free trade’ offer to coincide with the upcoming celebration Canada Day. The spin on this promotion: clients have until the end of 2014 to use the commission free trades (about 6 months). The deal is being offered to individuals making a deposit of $25,000 into a new Questrade account.

Qtrade Widens Network

In a slightly different approach to acquiring new clients, Qtrade Securities Inc decided to form a strategic partnership. Earlier this week they announced that they are working together with The Great-West Life Assurance Company and its subsidiary London Life in order to offer “to offer clients access to professional advice on securities including stocks and bonds through licensed investment advisors” as well as access to online brokerage services. Check out this article for additional details.

From the Forums

Comparing Brokerages

An uncommon comparison is the feature of this thread from the personal finance Canada section on Reddit. In it, a user is contemplating Questrade and CIBC Investor’s Edge. Hear what fellow readers had to say about the pros and cons of staying with CIBC or opening a Questrade account.

Don’t Hate the Game

There are definitely opposing opinions when it comes to investing. For those who decide to undertake the ‘DIY’ route, however, there can be moments where the voices of investing nay-sayers may be a cause for pause. In this thread, a younger investor shares their story of getting started in the market and asks for the community’s thoughts on why others look down on investing.

That does it for this week’s roundup. Even though tomorrow is officially the longest day of the year, many soccer fans have already seen that day come and go (sorry Spain and England!). However you decide to enjoy it, make it a safe and fun one! For our Quebec readers, bonne fête!



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Discount Brokerage Weekly Roundup – June 13, 2014

The Stanley Cup, the NBA Finals and the kickoff of the World Cup – between any or all of these major events it’s hard not to think about all of the fierce competition going on. Of course competition can bring out the best and sometimes the worst in the athletes. Online brokerages also know a thing or two about the heat of competition – sometimes driving innovation for the better and other times pushing things into a bit of a grey zone in the benefits department.

In this week’s roundup the Canadian online brokerage space saw a major feature release from one player. Across the border, however, this past week provided a glimpse into the darker side of innovation in the investment industry – something that is also being debated (albeit more politely) here in Canada. Of course this week wouldn’t be complete without a venture into the ongoing debate between investors from the forums.

If You Like It, Then Put a Bracket On It

Earlier this week, Questrade announced a big feature release as part of its latest set of trading platform feature upgrades. New with this release: bracket orders. For loyal readers of the roundup, we had announced the mention of this feature last month, however the official launch came this week, complete with a news release and video tour.

Active traders in particular will take note of these order types as placing conditions on an order enables (in theory) more efficient order entry planning. That said, Questrade isn’t the only brokerage that offers these features – both TD Direct Investing (on certain platforms) and Interactive Brokers also offer these. We have also caught wind of several other brokerages also actively working to implement these order types for their clients however like this competition inspired version of the roundup has shown us, clients may not want to go without for too long – especially the active trader types.

Ghost in the Machine

The US discount brokerages look like they’ve had a rough week and next week may be a little rougher. One of the bigger stories unfolding is the increasing scrutiny being placed on the brokerages for payment for order flow.

This past week, one of the largest US discount brokerages, TD Ameritrade, decided to start disclosing exactly how much of its revenue it derives from selling order flow – and the amount was a staggering $236 million from fiscal year 2013. Just who paid that amount? Mostly large high frequency trading firms/units that were able to capture incremental gains from many of those orders. TD Ameritrade wasn’t the only one to start disclosing this information though, E*trade and Schwab also revealed some of their figures related to payment for order flow.

At the heart of the discontent is not so much that brokerages made the money, but that fairness and transparency may have been compromised. Like the competitions referenced in this week’s roundup, sometimes the drive to compete crosses into a gray zone – which is where the order flow issues reside. In Canada, there is an analogous debate going on with regards to fairness for order flow – specifically known as the “order protection rule” or OPR.

Before the summer months are over, there is likely to be much more debate on both sides of the border. For retail investors, however the decisions may end up impacting how brokerages earn some of their revenues, which may in turn, impact retail trading costs.

Taking a Breather

Another interesting data point out of the US trading market also comes courtesy of TD Ameritrade – specifically in their trading volumes. Earlier this month Interactive Brokers reported their trading figures were lower for May and it looks like TD Ameritrade also pulled back about 15% month over month and about 8% year over year. While trading volumes are still strong on a relative basis, it is still interesting to wonder whether ‘complacency’ is setting in (and showing that sometimes too much of a good thing is not a good thing).

From the Forums

Penny Pinching

In this forum post from, the debate on ultra-low trading costs pits two perennial competitors – Virtual Brokers and Questrade – against one another. Hear how the community provides their two-cents to the question of penny trading and whether it makes sense.

Keep Tabs

Staying within the RedFlagDeals forum, another interesting thread illustrating why it’s important to read through and understand the terms of opening an online brokerage account. Although it was started quite some time ago, it’s a great illustration of folks running into some of the same situations and how the community helped provide a little clarity. Ironically, brackets (of the literal kind) also make an appearance in this post too.

That does it for this week’s roundup. Whether you’re glued to the TV screen or you’re putting on sun screen, have a fantastic weekend and remember to say thanks to dad! (For those stuck for an idea, here are some awesome bbq’s to get you inspired.)

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Discount Brokerage Weekly Roundup – June 6, 2014

Another day, another new high – wait is it déjà vu all over again? Impressively, the major stock markets feel like a Jeopardy champ on a bit of a hot streak. As this past week showed, however, even winning streaks can end when you bet big and bet wrong.

Self-directed investors as well as discount brokerages north and south of the border continue to benefit from stronger markets. In this week’s roundup we look at an interesting event that may be a sign of the shift in investor focus (at least for the near term), some discount brokers that appear to be raising the stakes going into the summer with deals and additional advertising, an interesting blip on a major US discount brokerage’s performance numbers and finally we roll through the Canadian investor forums to bring you some noteworthy conversations.

Digging for Better Times

In a sign of an evolving marketplace for Canadian investors, the Canadian Investor Conference put on by Cambridge House International took place earlier in the week. This was the first ‘diversified’ sector conference which featured companies and speakers from several major sectors including mining & exploration, technology and others.

This conference replaced the World Resource Investment Conference (WRIC) which typically would have taken place in June. The recent challenges faced by the junior mining and exploration sector have been no secret and thus an entire conference dedicated to a sector of companies that appear to be reigning in spending may have been a stretch.   As its replacement, however, the Canadian Investor Conference offered something familiar but also some very interesting new features.

Among the highlights of the conference were the lineup of interesting personalities from the technology & investment space, a showcase of non-public companies working on innovative tech/green tech initiatives and scheduled meetings with company reps. The Toronto version of the Canadian Investor Conference runs from September 25th to 26th.

New month, new deals

Although June is barely out of the gates, it didn’t take too long for the deals action to start heating up again. Earlier this week, Questrade re-launched their 3 months of unlimited trading offer, perhaps as other brokerages gear down for the summer. Individuals who deposit $50,000 or more are eligible for 3 months of unlimited trading. For those who deposit between $25,000 and $49,999, they may be eligible for two months of commission-free trading and for those who deposit $1,000 to $24,999, there is one month of commission-free trading up for grabs.

June is a big month for online brokerage deals with about half of the current offers set to expire by month’s end. Given that many Canadian brokerages are in the last half of their fiscal year, there’s likely to be a stronger push to meet targets for their year-end (October 31st) which could include quite a bit of promotional activity through the summer and into the fall.

Staying Top of Mind

Given the recent run up in the markets, it’s likely (based on historical behaviours) that many retail investors might be considering stepping back into the markets (if they haven’t already done so). For that reason, online brokerages, such as National Bank Direct Brokerage, will be looking to attract the attention of investors. We spotted an interesting video ad produced for NBDB which highlights the importance of staying current and top of mind amongst the assortment of online brokerage choices.

Trading Metrics

As per the usual cycle, Interactive Brokers recently reported their trading metrics for May 2014. Although most of the numbers on a year over year basis looked better, one stat in particular dipped enough to raise an eyebrow. Interactive Brokers reported 518,000 Daily Average Revenue Trades (DARTs) for May which was 10% lower than the prior month. Given where the markets have headed, whether this was ‘sell in May and go away’ or traders just riding the trend remains to be seen. Another very interesting data point (especially for the price shoppers) is the average commission per equity trade which came in at $2.07 – far lower than almost all brokerages offer here in Canada (even with the exchange rate).

From the Forums

Canadian investors appear to be busy enjoying the good weather rather than leaned over their computer screens. In this abbreviated forums scan, we showcase an interesting conversation between investors that started by requesting historical trading data from a particular brokerage.

The ability to pull historical data is very valuable for active investors however different online brokerages have different windows of time that a user can actually go back and retrieve data from. While better practice is to record one’s trading activities on a regular basis (either on a spreadsheet or software or (gasp) with paper), doing so can be laborious. Check out the link above to see what insight investors had to offer on getting the data of trades past.

That does it for this edition of the roundup. Enjoy the heat and sunshine this weekend – and remember the tips for sticking around long enough to enjoy many more great days involve some good risk management for the heat and sunshine (aka stay cool and wear sunscreen!).

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Discount Brokerage Deals & Promotions – June 2014

[Updated July 10, 2014]

With summer just around the corner, June is an interesting month for Canadian discount brokerage deals. On the one hand, there are six offers that are scheduled to expire at the end of the month. On the other hand, history has shown that Canadian brokerages don’t like to be left out of the deals party.

In this month’s deals section, although nothing new was posted or announced at the beginning of the month from Canadian online brokers, we’ve seen a couple of interesting offers launched in mid to late May that are likely to get more attention in June.

So, while investors may be gearing down, the deals and promotions timeframes seem to suggest that Canadian discount brokerages are gearing up for a very heated summer of competition.

New Deals

[Update: July 10, 2014]

  • Editor’s Note: A representative from BMO Investorline has contacted us directly to let us know that the terms for the Select1500 and Select700 offers are being updated and that this will only be offered to select existing clients.  As such, we have removed this offer from the deals sections in which it appears.

Update June 23, 2014:

  • Questrade has launched yet another offer – this one themed around Canada Day. With this newest offer, new clients who deposit $25,000 or more into a qualifying account may be eligible to receive 25 commission free trades which can be used between now and the end of the year (about 6 months).  Be sure to read the details below and pay special attention to the deadline (July 3) if this offer is of interest.

Update June 11, 2014:

  • Questrade appears to have brought back its 3 month of free trading offer, currently no other brokerage is offering unlimited trading for this span of time. As a note, the full three months is available for deposits of $50,000 or more. Those who deposit between $25,000 and $49,999 get two months of commission-free trades and for deposits of between $1,000 and $24,999 one month of commission free trades are being offered. For more details, check the table below.

iPad minis made a comeback through May as two online brokerages, Questrade and National Bank Direct Brokerage, launched offers with these tablets as incentives to open an online trading account.   It is interesting to compare the two offers directly as, although the tablet being offered is the same (iPad mini 16gb wifi), the criteria to qualify and the value of the offers are very different.

In the case of National Bank Direct Brokerage’s offer, the minimum deposit required is $20,000 and the valuation on the iPad Mini is being pegged at $319.   It is noteworthy that this is the first time in recent memory that National Bank Direct Brokerage has offered up an iPad mini as an incentive to open an account.

Questrade’s iPad mini offer, by comparison, requires a minimum deposit of $100,000 and clients can elect to receive an iPad mini or $250 cash. For Questrade, this isn’t the first time they have used an iPad mini as part of their promotional mix. The iPad mini was being offered under similar terms to the current offer for quite some time however it wasn’t present through May.

Another very interesting deal was also quietly announced midway through May by BMO InvestorLine. Specifically they have launched an offer directed at younger investors (i.e. those aged 18 – 35) that offers free trades, a waiving of the minimum deposit requirement and the possibility to have minimum account balance fees waived on registered and non-registered accounts. For a number of reasons, younger investors are becoming an increasingly important demographic for online brokerages to target and this offer by BMO may result in comparable offers from other brokerages.

As history has shown, Canadian discount brokerages are not keen on standing still. So, although June might be a time when most investors are starting to take it easy, most of the brokerages will likely be working on their next wave of promotions and deals.

Extended Deals

Only one promotion saw its expiry date moved from the beginning of July out until the end of August. Questrade’s 100 commission free trades offer has now been extended to August 30th and the promo code for it has also changed.

Expired Deals

Only one deal was set to expire at the end of May and that was Questrade’s cash back offer. That deal offered either $250 cash back for a $100,000 deposit or $100 cash back for a $50,000 deposit.

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
BMO InvestorLine For individuals between 18 and 35 who open a new qualifying account with BMO Investorline, they may be eligible to receive 35 commission-free trades, an eBook on investing and potentially waived account minimum fees. Use promo code “New” when signing up. Be sure to read the terms and conditions for more details on the offer. n/a 35 commission-free trades 90 days Youth Promotion October 31, 2014
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
Open an account with Virtual Brokers with a deposit at least $1,000 and Virtual Brokers will offer 25 commission free trades which can be used for up to 1 year. Use promo code “FTR2” when signing up. This offer is open to new clients only. Be sure to read the terms and conditions for full details on this offer. $1,000 25 commission-free trades 365 days 25 free trades offer June 30, 2014
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 August 30 2014 A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code 100LOWCOM14S must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information. A)$1,000 B)$10,000 A)10 free trades B)100 free trades 60 days 100 commission-free trades August 30, 2014
Open a new TFSA, margin or registered account with Questrade and receive either A) 31 days B) 62 days or C) 90 days of unlimited commission-free stock & options trades. Use promo code FREETRADES14 when signing up. Be sure to read the terms and conditions for more information. A)$1,000 B)$25,000 C)$50,000 Unlimited commission-free trades during associated period. A) 31 days B) 62 days C) 90 days Questrade Unlimited Trade Promo August 31, 2014
Open and fund a new account at Questrade with at least $5000 and place at least one commission generating trade, and Questrade will provide a gift card from worth $50. Use promo code BONUS50 when signing up. Be sure to read the full terms and conditions for more information. $5,000 $50 gift card from Amazon Receive gift card after placing 1 commission generating trade Amazon Gift Card Promo June 30, 2014
Disnat As part of their Stockscores tour, Disnat Direct is offering a “hat trick” promotion. Open a new account with at least $10,000 by June 15, 2014 and receive: $300 in commission credits, 3 months of trading at $5 commission per trade, 3 months of platform access to DDWeb/DDXtra and 1 year’s free subscription to TradeScores daily newsletter. Use the promo code “Hat Trick” when registering via phone. Read the terms and conditions for more details. $10,000 1) $300 commission credits 2) 3 months of $5/trade commission rate 3) 3 months platform access to DDWeb/DDXtra 4)1 year’s free subscription to TradeScores daily newsletter 1) 3 months Disnat Direct Hat Trick Promotion June 15, 2014
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 June 30, 2014
Scotia iTrade Open and fund a new Scotia iTRADE account with at least $15,000 before June 30, 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 HUN-SP. See details link for further terms and conditions. $15,000 100 commission-free trades ($999 value @ $9.99 commission rate) 60 days Scotia iTrade 100 free trades + FlightDesk June 30, 2014
Open and fund a new account with National Bank Direct Brokerage by July 31st, 2014 and you could be eligible to receive an iPad mini. A commission generating trade must be placed within the ‘validation period’ in order to qualify. Use promo code IPADMINI14. Be sure to read full terms and conditions, especially around validation periods. $20,000 iPad Mini (value $319) iPad Mini to be sent after either Dec. 31/14 or Jan. 31/15 depending on eligibility. At least 1 commission generating trade must be placed to be eligible. iPad Mini Promotion July 31, 2014
Open and fund a new account at Questrade with at least $25,000 and you may be eligible to receive 25 commission-free trades. Use promo code CANADADAY14 when signing up. Be sure to read the full terms and conditions for more information. $25,000 25 commission-free trades Dec. 31st, 2014 Canada Day Promo July 3, 2014
Scotia iTrade Open a new account by June 29 & fund with: A) between $15,000-$99,99 B) $100,000-$499,999 or C)$500,000+ and receive either A)$50 cash back or 100 free trades B)$250 cash back or 250 trades or C)$500 cash back or 500 free trades. Also, Scotia iTrade is including 6 months free access to their FlightDesk trading platform. Use promo code: SPTRD14 for free trades and CSHSG for cash back. Be sure to read the terms & conditions on this deal. A)$15,000 – $99,999 B)$100,000 – $499,999 C)$500,000+ A)$50 or 100 free trades B)$250 or 250 free trades C)$500 or 500 free trades Cash Back: deposit by Feb 28/15 Commission Rebate: 90 days $500 Cash Back or 500 Free Trade promo June 29, 2014
BMO InvestorLine Open a new qualifying account or fund an existing qualifying account by July 31, 2014 with at least $50,000 and BMO InvestorLine will provide a $50 cash back offer, 50 commission-free trades and a 1 year subscription to GlobeInvestor. Use promo code BONUS to qualify when signing up. Be sure to read full deal terms and conditions. $50,000 $50 cash back 50 commission-free trades ($497.50 value) 1 year subscription to Globe Investor (~$228 value) Cash Back: Payout after 6 months Commission-Credits: 50 days Spring “New Investors” 50 50 Promotion July 31, 2014
Disnat Disnat is offering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $50,000 $300 commission credit 6 months Disnat $300 Commission Credit Promo August 29, 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 & Conditions October 31, 2014
Open and fund a new qualifying account with at least $100,000 in net new assets and you may be eligible to receive either A) a new 16gb iPad Mini (wifi only) or B)$250 cash back. To be eligible for either, at least one commission generating trade must be placed. For the iPad Mini use promo code IPADMINIS14 or for the $250 cash back offer use promo code CASH250S14. Be sure to read full terms and conditions for eligibility and further details. $100,000 A) iPad Mini or B) $250 cash back A) iPad will be sent after 6 months B) Payout occurs after 60 days iPad Mini or Cash Back Promo July 30, 2014

Transfer Fee Deals

Company Brief Description Maximum Transfer Fee Coverage Amount Minimum Deposit Amount for Transfer Fee Eligibility Details Link Deadline
Scotia iTrade Tranfer $15,000 or more and Scotia iTrade may cover up to $150 of the transfer fee. $150 $15,000 $500 Cash Back or 500 Free Trade promo June 29, 2014
Transfer $15,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees $135 $15,000 Transfer Fee Rebate Details none
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150. $150 $25,000 Transfer Fee Promo none
Virtual Brokers will cover transfer fees from your transferring institution to a maximum of $150 per account. This offer is only applicable to accounts opened with at least $25,000 in equity before June 30, 2014 $150 $25,000 Transfer Fee Promo June 30, 2014
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 August 29, 2014