*Updated March 14* March is officially (or finally) here. Take note snow, your days are numbered. Of course, it’s not just the white fluffy stuff whose time is up this month as a number of discount brokerage deals for RSP season are also poised to melt away during over the next several weeks.
As last minute RSP contributions undoubtedly trickle in, there is a little bit of good news to share at the outset of a new month. One minor extension from BMO InvestorLine is the first bullish sign that the promotional offer run is set to continue into the next season. Of course, the other good piece of news is that for DIY investors there are still lots of compelling promotions on the table through the spring.
February certainly saw its fair share of surprises as deals from Virtual Brokers and Questrade made late appearances, with the latter offer being something that hasn’t really been seen before in recent memory – a transfer fee coverage offer that doesn’t have a minimum balance requirement attached to it. Combined with an aggressive advertising campaign across major sporting and entertainment programming, it was hard not to notice this major push by Questrade heading into the RSP contribution deadline for 2018.
The start of a new season is just around the corner however with relative stability in markets, slow movement on interest rates and competitive forces continuing to heat up, there’s likely a few more offers set to sprout up soon.
Expired Deals
*Update March 14 – Deals from TD Direct Investing and BMO InvestorLine which had expired in early March have been officially moved into the expired category. The deal from BMO InvestorLine has been replaced with a slightly modified offer which is detailed in the new deals section below.*
Although technically still live at the time of publication, TD Direct Investing’s commission free trade offer is on the brink of expiration. Timed to conclude on March 1st alongside the RSP contribution deadline, the expiry of an offer from one of Canada’s most popular online brokerages going to be noticed and create an opportunity for other offers to grab the spotlight.
Another minor change taking effect at the start of March is the expiry of RBC Direct Investing targeted commission-free trade offer. Fear not, as they have launched another offer with the same number of commission-free trades (20) that isn’t set to expire until the end of May.
Extended Deals
*Update March 14 – Qtrade Investor has extended the deadline for their cash back offer from March 15th to March 29th. A couple of important details to take note of – first the terms and conditions currently state that any accounts that are being funded by transfer from another institution must be received by March 15th. Also the deadline for applying is specified as March 29th at 11:59 PM ET – which means anyone trying to apply using this offer west of the eastern timezone will have to factor this in when opening their account. See table below for more details.*
BMO InvestorLine’s winter offer has been extended from its previous expiry date of February 28th to now conclude on March 4th. The slight change is an important one as it enabled individuals on the hunt for a deal on the RSP contribution deadline day to still technically qualify for one.
New Deals
*Update March 14 – BMO InvestorLine has technically rolled out a new cash back promo for spring 2019 that replaces their previous cash back offer (referenced above). This latest offer may look a bit familiar to their previous offer in that it has the same number of qualifying tiers (4) however the tiers themselves are slightly different as are the cash back amounts associated with each level. The new qualifying deposit tiers are: $50,000; $100,000; $500,000 and $1M+, while the associated cash back amounts are: $100, $300, $900 and $1,600 respectively. See table below for more information. *
There were no new deals to announce (yet).
Discount Brokerage Deals
- Cash Back/Free Trade/Product Offer Promotions
- Referral Promotions
- Transfer Fee Promotions
- Contests & Other Offers
- Digital Advice + Roboadvisor Promotions
Cash Back/Free Trade/Product Offer Promotions
| Company | Brief Description | Minimum Deposit Amount | Commission/Cash Offer/Promotion Type | Time Limit to Use Commission/Cash Offer | Details Link | Deadline |
|---|---|---|---|---|---|---|
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A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitneytrade and receive access to their preferred pricing package. | n/a | Discounted Commission Rates | none | For more details click here | none |
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Open and fund a new account (TFSA, Margin or RRSP) with at least $1,000 and you may be eligible to receive $88 in commission credits (up to 17 commission-free trades). Use promo code SPARX88 when signing up. Be sure to read terms and conditions carefully. | $1,000 | $88 commission credit | 60 days | Access this offer by clicking here: $88 commission-credit offer . For full terms and conditions, click here. | none |
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Open and fund a new account (TFSA, Margin or RRSP) with at least $1,000 and you may be eligible to receive 5 commission-free trades. Use promo code 5FREETRADES when signing up. Be sure to read terms and conditions carefully. | $1,000 | 5 commission-free trades | 60 days | 5 commission-free trade offer | December 31, 2019 |
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Open and fund a new account with at least $5,000 at National Bank Direct Brokerage and you may be eligible to receive up to 50 commission free equity trades, which are good for up to one year. Use promo code: FREE50 when applying. Be sure to read offer terms and conditions for full details. | $5,000 | 50 commission-free trades | 12 months | National Bank Direct Brokerage 50 Free Trade Offer | April 30, 2019 |
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Open a new qualifying account with RBC Direct Investing with at least $5,000 and you may be eligible to receive up to 20 commission-free equity trades, which are good for up to one year. Use promo code SPARX when signing up. See terms and conditions for full details. | $5,000 | 20 commission-free trades | 12 months | RBC Direct Investing Free Trades Promotion | March 29, 2019 |
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Open a new account or fund an existing account at Virtual Brokers with at least $10,000, and you may be eligible to receive $50 cash back. Use code RRSP2019 when registering to claim this offer. Be sure to read terms and conditions for full details. | $10,000 | $50 cash back | Cash back will be deposited after July 1, 2019. | Virtual Brokers RRSP 2019 Cash Back Promo | March 31, 2019 |
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Open a new account or fund an existing account with A) $10,000; B) $25,000; C) $50,000; D) $100,000 E) $250,000; F) $500,000 or G) $1M+ and you may be eligible to receive either A)20; B) 50; C) 100; D) 200; or E), F), G) 300 commission free trades; or B) $100; C) $200; D) $500; E) $800; F) $1100 or G) $1500. Use promo code 19CA for the cash back or 19FT for the free trades offers. Be sure to read the terms and conditions for full details. | A) $10,000 B) $25,000 C) $50,000 D) $100,000 E) $250,000 F) $500,000 G) $1M+ | For cash back: A) $0 B) $100 C) $200 D) $500 E) $800 F) $1100 G) $1500 For commission-free trades: A) 20 B) 50 C) 100 D) 200 E) 300 F) 300 G) 300 | For cash back: Cash will be deposited by July, 2019. For commission free trades: 120 days to use trades from date of account funding. | iTRADE commission-free trade + cash back offer | March 31, 2019 |
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Desjardins Online Brokerage is offering new clients 1% of assets transferred into the new account in the form of commission credits (to a maximum value of $1,000). Minimum qualifying deposit is $10,000. To qualify, individuals will have to call 1-866-873-7103 and mention promo code DisnatTransfer or email: [email protected]. See details link for more info. | $10,000 | 1% of assets transferred in the form of commission-credits (max credits: $1,000) | 6 months | Disnat 1% Commission Credit Promo | none |
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Open and fund a new account with at least A) $25,000; B) $100,000; C) $250,000; D) $500,000 or E) $1M+ AND place at least three commission-generating trades and you may be eligible to receive a cash back promotion amount of at least A) $188; B) $388; C) $688; D) $988 or E) $1288. Be sure to read offer terms & conditions for full details. | A) $25,000 B) $100,000 C) $250,000 D) $500,000 E) $1M+ | A) $188 B) $388 C) $688 D) $988 E) $1288 | Cash back will be deposited by November 29, 2019 | HSBC InvestDirect 2019 Winter Offer | April 30, 2019 |
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Open and fund a new qualifying account with CIBC Investor’s Edge with a deposit of at least A) $25,000; B) $50,000 or C) $100,00+ and you may be eligible to receive a cash back bonus of A) $100; B) $200 or C) $400. This offer is open to both new and existing clients. Use offer code SPARX18 when opening the account to obtain this offer. Be sure to read full terms and conditions for complete details. | A) $25,000 B) $50,000 C) $100,000 | A) $100 B) $200 C) $400 | Cash back will be deposited on the week of March 24, 2019 for transfers received by December 31, 2018; transfers received after December 31, 2018 but before May 1, 2019 will receive cash back on the week of July 1, 2019. | CIBC Investor’s Edge Cash Back Promo | March 24, 2019 |
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Open and fund a new qualifying account with at least $25,000 and you may qualify for one month of unlimited commission-free trades and up to one month free of an advanced data package. Use promo code ADVANTAGE14 when opening a new account. Be sure to read terms and conditions for full details. | $25,000 | commission-free trades for 1 month + 1 month of advanced data. | 1 month | Active Trader Program | December 31, 2019 |
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Open a new qualifying account or fund an existing qualifying account at BMO InvestorLine with new assets worth at least A) $50,000; B) $100,000; C) $500,000 or D) $1M+ and you may be eligible to a cash back reward of up to A) $100; B) $300; C) $900 or D) $1600. Use promo code SPARXCASH when registering to qualify. Be sure to read full terms and conditions. | A) $50,000 B) $100,000 C) $500,000 D) $1M+ | A) $100 B) $300 C) $900 D) $1,600 | Cash back will be deposited the week of December 16, 2019. | BMO InvestorLine Spring 2019 Campaign | June 3, 2019 |
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Open a new qualifying account or fund an existing qualifying account at Qtrade Investor with new assets worth at least A) $50,000; B) $100,000; C) $250,000 D) $500,000 or E) 1M+ and you may be eligible to a cash back reward of up to A) $50; B) $100; C) $250 or D) $750 or E) $1500. Use promo code CASH2019 when registering to qualify. Be sure to read full terms and conditions. | A) $50,000 B) $100,000 C) $250,000 D) $500,000 E) $1M+ | A) $50 B) $100 C) $250 D) $750 E) $1500 | Cash back will be deposited the week of September 25, 2019. | Qtrade Investor Cashback Promo | March 29, 2019 |
Expired Offers |
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| Last Updated: Mar. 14, 2019 23:00 PT | ||||||
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Open a new qualifying TD Direct Investing account by March 1, 2019 with a minimum deposit of A) $15,000; B) $25,000; C) $50,000 or D) $100,000+ and you may be eligible to receive commission rebates for A) 25; B) 50; C) 100 or D) 200 trades. To qualify online, individuals must register here and open the account by March 1, 2019. See terms and conditions for full details. | A) $15,000 B) $25,000 C) $50,000 D) $100,000+ | A) 25 B) 50 C) 100 D) 200 | Trades made prior to July 1, 2019 will be eligible for rebate. | TD Direct Investing Winter Promotion | March 1, 2019 |
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Open a new qualifying account or fund an existing qualifying account at BMO InvestorLine with new assets worth at least A) $50,000; B) $250,000; C) $500,000 or D) $1M+ and you may be eligible to a cash back reward of up to A) $400; B) $900; C) $1200 or D) $1600. Use promo code SPARXCASH when registering to qualify. Be sure to read full terms and conditions. | A) $50,000 B) $250,000 C) $500,000 D) $1M+ | A) $400 B) $900 C) $1200 D) $1600 | Cash back will be deposited the week of September 16, 2019. | BMO InvestorLine Winter 2018 Campaign | March 4, 2019 |
Referral Promotions
| Company | Brief Description | Minimum Deposit Amount | Incentive Structure | Time Limit to Use Commission/Cash Offer Deposit | Details Link | Deadline |
|---|---|---|---|---|---|---|
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Refer a friend to Questrade and when they open an account you receive $25 cash back and they receive either A) $25; B) $50; C) $75; D) $100; or E) $250 depending on the amount deposited amount. Enter code: 476104302388759 during account sign up to qualify. Be sure to read the terms and conditions for eligibility and additional bonus payment structure and minimum balance requirements. | A) $1,000 B) $10,000 C) $25,000 D) $50,000 E) $100,000+ | $25 cash back (for referrer per referral; $50 bonus cash back for every 3rd referral) For referred individuals: A) $25 cash back B) $50 cash back C) $75 cash back D) $100 cash back E) $250 cash back | Cash deposited into Questrade billing account within 7 days after funding period ends (90 days) | Refer a friend terms and conditions Code Number: 476104302388759 | none |
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If you (an existing Qtrade Investor client) refer a new client to Qtrade Investor and they open an account with at least $1,000 the referrer and the referee may both be eligible to receive $25 cash. See terms and conditions for full details. | $1,000 | $25 cash back (for both referrer and referee) | Cash deposited at the end of the month in which referee’s account funded | Refer A Friend to Qtrade Investor | none |
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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 | tbd |
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If you (an existing BMO InvestorLine client) refer a new client to BMO InvestorLine and they open an account with at least $5,000 the referrer and the referee may both be eligible to receive $50 cash. To qualify the referee must use the email of the referrer that is linked to their BMO InvestorLine account. See terms and conditions for full details. | $5,000 | You(referrer): $50; Your Friend(referee): $50 | Payout occurs 45 days after minimum 90 day holding period (subject to conditions). | BMO InvestorLine Refer-a-Friend | January 2, 2020 |
Expired Offers |
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| Last Updated: Mar. 1, 2019 19:00 PT |
Transfer Fee Promotions
| Company | Brief Description | Maximum Transfer Fee Coverage Amount | Minimum Deposit Amount for Transfer Fee Eligibility | Details Link | Deadline |
|---|---|---|---|---|---|
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Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150. | $150 | no minimum required | Transfer Fee Promo | March 31, 2019 |
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Transfer $15,000 or more into a new HSBC InvestDirect account and you may be eligible to have up to $152.55 in transfer fees covered. | $152.55 | $15,000 | Confirmed via email contact with HSBC InvestDirect Rep. Contact client service for more information. | none |
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Transfer $15,000 or more to Qtrade Investor from another brokerage and Qtrade Investor may cover up to $150 in transfer fees. See terms and conditions for more details. | $150 | $15,000 | Transfer Fee Rebate | none |
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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 |
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Transfer $20,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees. | $135 | $20,000 | Transfer Fee Rebate | none |
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Transfer at least $25,000 or more in new assets to TD Direct Investing when opening a new account and you may qualify to have transfer fees reimbursed up to $150. Be sure to contact TD Direct Investing for further details. | $150 | $25,000 | Contact client service for more information (1-800-465-5463). | none |
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Transfer $25,000 or more into a CIBC Investor’s Edge account and they will reimburse up to $135 in brokerage transfer fees. Clients must call customer service to request rebate after transfer made. | $135 | $25,000 | Confirmed with reps. Contact client service for more information (1-800-567-3343). | none |
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Desjardins Online Brokerage 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 Desjardins Online Brokerage account. You’ll have to call 1-866-873-7103 and mention promo code DisnatTransfer. See details link for more info. | $150 | $50,000 | Disnat 1% Commission Credit Promo | none |
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Open a new qualifying account with BMO InvestorLine or fund a qualifying existing account, by transferring in at least $200,000+ in net new assets and you may be eligible to have transfer fees covered up to $200. Use promo code SPARXCASH when signing up. Be sure to read the terms and conditions for more details on the offer. | $200 | $200,000 | BMO InvestorLine Summer 2018 Campaign | September 3, 2018 |
Expired Offers |
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| Last Updated: Mar. 1, 2019 19:00 PT |
Other Promotions
| Company | Brief Description | Minimum Deposit Amount Required | Details Link | Deadline |
|---|---|---|---|---|
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Desjardins Online Brokerage, in conjunction with MoneyTalks, is offering 3 months of the “Inside Edge” investor information service to Desjardins Online Brokerage clients. Use promo code DESJ2016 during checkout to qualify. Be sure to read full terms and conditions for more information. | n/a | MoneyTalks Inside Edge Discount | none |
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Desjardins Online Brokerage is offering $50 in commission credits for new Disnat Classic clients depositing at least $1,000. See terms and conditions for full details. | $1,000 | Broker@ge 18-30 Promotion | none |
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Scotiabank StartRight customers can receive 10 commission-free trades when investing $1,000 or more in a new Scotia iTrade account. Trades are good for use for up to 1 year from the date the account is funded. Use promo code SRPE15 when applying (in English) or SRPF15 when applying in French. Be sure to read full terms and conditions for full details. | $1,000 | StartRight Free Trade offer | none |
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Open and fund a new qualifying account with at least $5,000 at RBC Direct Investing and you may be eligible to receive up to 20 commission-free trades, which are good for up to one year. Use promo code MDFT8 to qualify. This promotion is being marketed towards healthcare workers, so be sure to review terms and conditions or speak to an RBC Direct Investing representative for full details. | $5,000 | RBC Direct Investing 20 Free Trade Offer | Mar. 4, 2019 |
Expired Offers |
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| Last Updated: Mar. 1, 2019 19:00PT |
Digital Advice + Roboadvisor Promotions
| Robo-advisor / Digital advisor | Offer Type | Offer Description | Min. Deposit | Reward / Promotion | Promo Code | Expiry Date | Link |
|---|---|---|---|---|---|---|---|
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Discounted Management | Open and fund a new Questrade Portfolio IQ account with a deposit of at least $1,000 and the first month of management will be free. For more information on Portfolio IQ, click the product link. | $1,000 | 1st month no management fees | KDKFNBBC | None | Questrade Portfolio IQ Promo Offer |
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Cash Back | Open and fund a new or existing SmartFolio account with at least $1,000 and you could receive 0.5% cash back up to $1000. Use promo code PROMO1000 when opening a new account. See terms and conditions for full details. This offer can be combined with the refer-a-friend promotion. | $1,000 | 0.5% cash back to a maximum of $1000. | PROMO1000 | January 2, 2020 | SmartFolio Cash Back Promo |
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Discounted Management | Open a new account with BMO SmartFolio and receive one year of management of up to $15,000 free. See offer terms and conditions for more details. | $1,000 | 1 year no management fees | STSF | April 30, 2019 | SmartFolio New Account Promotion |
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Cash Back – Referral | BMO SmartFolio clients will receive $50 cash back for every friend or family member who opens and funds a new SmartFolio account. Friends and family referred to SmartFolio will receive $50 cash back for opening and funding an account, plus automatic enrollment into SmartFolio’s mass offer in market at the time. See offer terms and conditions for more details. | $1,000 | $50 cash back (referrer) $50 cash back (referee) | Unique link generated from SmartFolio required. | None | SmartFolio Website |
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Discounted Management | Open a new account with RBC InvestEase and the standard management fee will be waived until October 31, 2019. See offer terms and conditions for full details. | $1,000 | No management fees until October 31, 2019 | None | March 31, 2019 | RBC InvestEase Pricing Details |
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Transfer Fee Coverage | Transfer at least $25,000 into Virtual Wealth when opening a new account and you may be eligible to have up to $150 in transfer fees covered by Virtual Wealth. | $25,000 | up to $150 in transfer fees covered | None | None | Contact customer service directly for more information. |
| Last Updated: Mar. 1, 2019 19:00 PT |