*Updated Dec. 17, 2014*
With the start of December coming on the heels of two of the biggest deals days of the year, the Canadian discount brokerage deals & promotions section is filled to the brim with offers from online brokerages. Unlike the pictures on television or Twitter, however, there was no crush of people attempting to get in on a sale on a brokerage account – although that didn’t stop at least one brokerage from trying to catch the deal-frenzy wave.
Heading into the last month of the year, the deals activity did pick up slightly through November with three updates to the deals pool. Most notably, an offer from RBC Direct Investing was spotted that signals their re-entry into the promotions space until the end of this year.
At the outset of December, it appears that Questrade has continued with its strategy of offering up promotions/incentives that are timely, as they launched a holiday-themed offer alongside several of their existing offers.
Of course, the news wasn’t all cheerful for deals, as a pair of offers from TD Direct Investing and Questrade ended by the time December rolled around as well as the iPad Mini offer from Questrade.
The last month of the year is also a bit of a milestone month for many active offers. There are at least 7 offers that are set to expire by year’s end signaling a potentially exciting start to 2015. That said, there’s still lots of time left for some interesting announcements to be made. So even though we’ve made this list, we’ll be checking it twice, and, hopefully we’ll find something nice.
The deals that expired coming into December were the monster offer by TD Direct Investing for 200 commission-free trades and Questrade’s 100 commission-free trade offer. Also on the way out (for now) was the iPad Mini deal from Questrade.
While it was left off the deals section for some time, the Scotia iTrade refer-a-friend deal finds its way back onto the list as the expiration date has been updated/extended until the end of December.
*Update: Dec. 17, 2014 – National Bank Direct Brokerage has just announced a huge commission rebate offer of up to $1,000 for deposits of $100,000 or more or $500 for deposits of $20,000 or more. NBDB has been quiet in terms of deals for several months, however this newly launched promotion is a significant one compared to other offers in the same deposit range. The offer is open to new and existing clients however according to the terms and conditions, individuals who have participated in any other promotions with NBDB since January 2014 are not eligible. Also worth noting, the total amount of the rebate includes any transfer rebates (of up to $135) that individuals may take advantage of if switching providers. This means that the amounts remaining (if using the transfer fee rebate) would be at least $365 or $865 (depending on the deposit size). The window for rebates to be applied are subject to a schedule outlined in their terms and conditions, however essentially qualified clients can have trade commissions (stocks, options & ETFs) made within 90 days of opening the account refunded. The terms and conditions are remarkably brief so be sure to read them through if considering this offer. Additional details are in the table below.*
The newest promotion at the outset of the month comes from Questrade in the form of a ‘holiday’ themed offer. Questrade is offering new and existing clients up to 30 commission free trades for a deposit of at least $1,000. The commission-free trades are good for 30 days – just in time for that other season trader’s know comes this time of year – tax loss selling season.
The deals that joined the list of offers mid-month last month included offers from BMO InvestorLine for 5 commission-free trades for using their new mobile app; RBC Direct Investing’s offer (mentioned above) of 20 commission-free trades for a new account opening and finally a cash-back offer by Questrade to compete at the higher deposit levels.
Discount Brokerage Deals
|Company||Brief Description||Minimum Deposit Amount||Commission/Cash Offer Type||Time Limit to Use Commission/Cash Offer||Details Link||Deadline|
|A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform.||n/a||Discounted Commission Rates||none||For more details click here||none|
|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||January 5, 2015|
|Individuals opening a new account with RBC Direct Investing by December 31st may be eligible to receive a commission-rebate on their first 20 trades. Use promo code QC20 or visit the info page link for a valid code. Be sure to read the terms and conditions on this offer.||n/a||20 commission-free trades||90 days||Full offer information can be found here . For terms and conditions information click here.||December 31, 2014|
|Download the BMO InvestorLine iPad app and you could qualify for up to 5 commission-free trades. This offer is open to new and existing clients and can be combined with other offers. Clients must have a qualifying account in order to be eligible. Read full terms and conditions for details.||n/a||5 commission-free trades ($50 max value)||30 days||Tablet Trades Promotion||January 5, 2015|
|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 December 30 2014 with a deposit of at least 1,000 and you could be eligible to receive up to 30 commission-free trades with 30 days of opening/funding your account. Use promo code 30trades2014 when signing up. Be sure to read terms and conditions for full details.||$1,000||30 commission-free trades||30 days||30 commission-free trades||December 30, 2014|
|Open a new account (TFSA, Margin, RRSP or FX/CFD) and place at least one trade within 60 days of opening and you may be eligible to receive a $50 prepaid Visa card from Questrade. Use promo code VISA50. Be sure to read terms and conditions for full details on this offer||$5000||$50 Visa gift card||Cards will be mailed within 40 business days of reaching account funding requirement.||$50 Prepaid Visa Card Offer||December 31, 2014|
|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, 2014|
|Open and fund a new Scotia iTRADE account with at least $15,000 before December 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 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||December 31, 2014|
|Open a new account with Scotia iTrade with either A) $15,000 – $99,999 B) $100,000 – $499,999 or C) $500,000+ and you may be eligible to receive either A)100 free trades or $50 cash B)250 free trades or $250 or C)500 free trades or $500 cash. Accounts must be opened prior to December 31st, 2014. New clients use code: FATD14E for free trades and code: MONF14 for cash back. Existing clients must call client service (1-888-769-3723) to qualify. Be sure to read terms and conditions regarding minimum balance requirements and other details.||A)$15,000 – $99,999 B)$100,000 – $499,999 C)$500,000+||A) 100 commission-free trades or $50 cash B) 250 commission-free trades or $250 cash C) 500 commission-free trades or $500 cash||For commission-free trades: 180 day limit For cash back: payout occurs by August 31, 2015||Cash back + Free trade offer||December 31, 2014|
|Open a new account and fund it with at least (A) $20,000 or (B)$100,000 and NBDB may provide up to (A) $500 or (B) $1,000 in commission rebates for qualifying accounts. Use promo code “CashBack2015” when signing up. Be sure to read the terms and conditions for eligibility and refund dates.||A)$20,000 – $99,999 B)$100,000+||A)$500 commission rebate B)$1,000 commission rebate||90 days (rebate of commissions depends on sign up date and is outlined on terms/conditions)||Cash Back Offer||March 31, 2015|
|Open a new account or fund an existing account at CIBC Investor’s Edge with at least A)$25,000-$49,999 B)$50,000 – $99,999 or C)$100,000+ and you may be eligible to receive A)$100 cash back and 25 free trades; B)$200 cash back and 50 trades or C)$300 cash back and 100 free trades. Be sure to read the terms and conditions for full details on this offer.||A) $25,000 – $49,999 B) $50,000 – $99,999 C) $100,00+||A) $100 cash back + 25 commission-free trades B) $200 cash back + 50 commission-free trades C) $300 cash back + 100 commission-free trades||Cash back payout occurs within 30 days of account funding; Time limit to use commission free trades is 60 days||Investors Edge Cash Back and Free Equity Trades Offer||February 28, 2015|
|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||December 31, 2014|
|Open and fund a new account at Questrade with at least A)$50,000 or B)$100,000 by December 30, 2014 and you may be eligible to receive either A)$100 cash back or B)$250 cash back. Use promo code: CASHBACK250W when opening the account. Be sure to read the terms and conditions for full details.||A)$50,000 B)$100,000||A)$100 cash back B)$250 cash back||Cash back payout occurs after 60 days.||Questrade Cash Back Offer||December 30, 2014|
|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).||Contact InvestorLine for full terms and conditions.||October 30, 2015|
|Open and fund a new qualifying account at BMO InvestorLine with at least $100,000 in net new assets and you may be eligible to receive $250 cash back and a rebate of commissions on up to 25 trades made within 50 days of opening the account. Use the promo code SMILE when signing up for the account. Be sure to read full terms and conditions for eligibility and further details.||$100,000||$250 cash back + 50 commission-free trades (rebated)||50 days (payout for cash back and commission rebate occurs after 6 months)||Smile Promotion||January 18, 2015|
Transfer Fee Deals
|Company||Brief Description||Maximum Transfer Fee Coverage Amount||Minimum Deposit Amount for Transfer Fee Eligibility||Details Link||Deadline|
|Transfer $15,000 or more to Credential Direct and they will pay the transfer-out fees up to $150. If you wish to switch out of Credential Direct after 90 days they will waive their transfer out fee. See link for more details.||$150||$15,000||Transfer Free Promo||December 15, 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|
|Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees||$135||$25,000||Transfer Fee Rebate||none|
|Qtrade Investor will reimburse your transfer fee up to $125 when transferring a balance of $25,000 or more. For reimbursement, please mail or fax a copy of your statement from the transferring institution that shows the transfer charge to Qtrade Investor at 604.484.2627 and indicate your Qtrade Investor account number.||$125||$25,000||Transfer Fee Promo||none|
|Disnat is offering up to $150 to cover the cost of transfer fees from another institution. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info.||$150||$50,000||Disnat $300 Commission Credit Promo||December 31, 2014|