Category: Current Deals

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Discount Brokerage Deals & Promotions – March 2014

*Updated March 28/2014* The deals and promotions offered by Canadian discount brokerages at the outset of March are largely unchanged from February.  While the the deals may be starting March looking one way,  there’s a good chance that the end of March will look very different.  Of the 18 offers currently available, 12 are set to expire within or by the end of this month. Several bank-owned online brokerage promotions are set to end within the first two weeks of March so there is a good chance that either extensions and/or additional deals will start to show up as we ‘march’ on through the month. At the start of the month, however, there is only one noteworthy offer that was launched by HSBC InvestDirect late into February.

Expired Deals

The following discount brokerage deals expired this past February:

  • CIBC Investor’s Edge offer which essentially expired at the outset of February
  • BMO InvestorLine’s Lunar New Year Offer
  • HSBC InvestDirect’s 5 free trades for an account transfer offer is now expired

Extended Deals

The expiry date on Questrade’s iPad Mini offer has been extended to March 31st 2014. Questrade has also extended their 100 free trade offer to July of 2014.

New Deals & Promos

[Update March 28/2014: Desjardins Online Brokerage (aka Disnat) is launching a new promotion as part of their Stockscores education tour.  The “hat trick” promotion features a series of offers bundled together for individuals who open a Disnat Direct account and deposit at least $10,000.  The offer includes:

  • $300 in commission credits (good for up to 3 months)
  • 3 months of their lowest commission level – $5/trade
  • 3 months access to their DDweb and/or DDXtra trading platforms
  • 1 year’s subscription to the Tradescores daily newsletter

See the table below for additional info]

[Update March 18/2014: TD Direct Investing has just announced a monster offer as part of their 30 year anniversary: 300 commission free trades for deposits of $100,000 or more.  This is by far one of the biggest offers to come from TD Direct Investing and is much larger than any of the other bank-owned peers for this deposit level.  For those deposits less than $99,999, TD is offering 30 commission free trades. The terms and conditions on this offer are also very straightforward so it’s worth a look over for those thinking about TD. More details in the table below]

The most noteworthy deal to show up late into February was HSBC InvestDirect’s unlimited trading offer to celebrate their recent strong performance on the Dalbar direct brokerage service award.  This offer is available to existing and new clients and enables qualifying clients to trade North American as well as international equities commission-free for 30 calendar days.  It is important to note that commissions are charged at the time of the trade and are refunded after 90 days. Of course one of the big draws of this offer is that there is no minimum deposit required to qualify.

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 account at HSBC Invest Direct by March 31st, 2014 and receive 30 calendar days of free equity (including ETF) trading of North American and International equities. This offer is open to new and existing HSBC InvestDirect clients. Be sure to read the terms and conditions and the FAQs for more details. $0 Unlimited equity trades (commissions to be rebated within 90d) 30 days HSBC Dalbar Award Offer Terms & Conditions. For FAQ information, click here March 31, 2014
Open and fund a new account at TD Direct Investing with either A)$99,999 or less or B)$100,000 or more and receive commission rebates on either A)30 trades or B)300 trades. New accounts must be opened by April 30, 2014. Be sure to read the terms and conditions for full information on this offer. A)$0-$99,999 B)$100,000+ A) 30 commission free trades (rebated) B) 300 commission free trades (rebated) Trades must be executed by August 1, 2014 4pm ET to qualify for rebate. TD Direct Investing Free Trade Offer April 30, 2014
Open a new account with RBC Direct Investing before March 3, 2014 and they will offer 20 commission free trades that are good for use for up to 90 days. Use promo code: 20W17 when opening the account. Be sure to read the offer page and the terms and conditions page for full information. $0 20 free trades (equity & etf) 90 days For the offer page, click here and for the terms and conditions, click here March 3, 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 “25FTNE” 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 March 31, 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 July 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 July 1, 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 UNLIMITEDW14 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 March 3, 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 March 31, 2014
Deposit $5,000 into an RSP and $5,000 into either a cash or TFSA account and Credential Direct will waive the $50 administration fee for the RSP account. Be sure to contact their customer service to clarify the exact terms & conditions. $10,000 ($5000 into RSP + $5000 into TFSA/Cash account) $50 admin fee waived none 5+5 Promotion March 3, 2014
Scotia iTrade Open a new account with Scotia iTrade and fund it with at least $15,000, and you can receive 100 commission-free trades, 60 days of FlightDesk and be entered into a contest for a trip to the Stanley Cup Finals or one of 5 runner-up prizes of iPad Air (64gb). Use Promo code RS13-SCE when opening the account. Existing clients must call customer service to qualify for contest entry. There are lots of terms, conditions, and rules/regulations so be sure to read them for more details. $15,000 100 free trades ($999 max value @ 9.99 commission rate) 60 days Stake Your Claim to the Stanley Cup Promotion March 24, 2014
Open a new account before March 31, 2014 with at least a)$20,000 or b)$100,000 and National Bank Direct Brokerage will offer up to a)$500 or b)$1000 in commission fee credits. Use the promo code “CASHBACK2014” when signing up to qualify for this offer. Be sure to read the terms and conditions for this offer especially the refund dates for commission credits. A)$20,000 B)$100,000 A)$500 commission credit B)$1000 commission credit 90 days Invest and get cash back offer March 31, 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
BMO InvestorLine Open and fund a new RSP or TFSA account with BMO InvestorLine with either A)$25,000 or B)$50,000 and they will pay either A)$100 or B)$250 cash back. The promo code for the $100 cash back is “SELECTR100” and for the $250 cash back offer is “SELECTR250”. Be sure to read the terms & conditions for more information. A)$25,000 B)$50,000 A)$100 B)$250 Payout occurs after 6 months Registered Account Cross Sell Campaign March 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 March 31, 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
BMO InvestorLine [Main offer]Open a new account or deposit new funds of $100,00 or more and you can be eligible for cash rebates of $250 and 250 commission-free trades (Promo code: RSP250). [Bonus Offer] If you open a new account or fund another account you could also be eligible for an additional $50 and 50 commission-free trades (Promo code ADD50). Be sure to read the full details & terms of this offer. $100,000 (main offer) $5000 (bonus offer) [main offer] $250 cash back + 250 commission-free trades (max value $2500) [Bonus offer] $50 + 50 commission-free trades 90 days $300 + 300 trade offer March 10, 2014
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 31, 2014

Transfer Fee Deals

Company Brief Description Maximum Transfer Fee Coverage Amount Deposit Amount for Transfer Fee Eligibility Details Link Deadline
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 at least $25,000 to TD Direct Investing and TD will cover up to $150 in transfer fees $150 $25,000 TD Direct Investing Free Trade Offer April 30, 2014
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 March 31, 2014 $150 $25,000 Transfer Fee Promo March 31, 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 March 31, 2014
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Discount Brokerage Deals & Promotions – February 2014

*Updated Feb. 27th 2014*

Now that February is here, the RSP contribution deadline (March 3rd) is in the crosshairs of many investors.  Canadian discount brokerages have already stepped up the deals & promotions activities with last month seeing over 20 deals offered.   The most active of all the discount brokerages was Questrade followed by BMO InvestorLine however RBC Direct Investing’s commission lowering announcement also had brokerages scrambling to provide offers to get investors’ attention.

With 7 of the deals set to expire within the first few days of March, the sprint to the RSP deadline is on.   Given the combination of news from RBC and the scramble for new client assets at this time of year, February should hold its own fair share of surprises.  Be sure to check back regularly for updates or follow @SparxTrading on Twitter for announcements of deal/promo updates.  So, without further ado, here’s the discount broker deal rundown at the beginning of February.

Expired Deals:

Most of the deals that expired in January did so at the beginning of the month. These deals included:

  • Questrade’s Boxing Day Promo
  • RBC Direct Investing’s 25 Free Trade offer
  • BMO InvestorLine’s 250 free trade promo

Interestingly, a deal that was a bit of a ‘flash’ offer from CIBC Investor’s Edge that started and finished in January.  They were offering $400 + 50 free trades for $50,000 deposits and $200 + 25 free trades for $25,000 deposits.  It has been quite some time since CIBC has offered a special however given the changes going on in the marketplace, it may not be long until we hear from them again.

Extended Deals:

There was one deal that had its deadline extended out: Scotia iTrade’s refer-a-friend offer.  This promotion now expires at the end of March.

New Deals:

Updated Feb. 27/14: HSBC InvestDirect has launched a promotion for new and existing clients to celebrate their performance on Dalbar’s direct brokerage service evaluation.  The promotion offers clients 30 days of unlimited commission-free equity trading of North American and international equities (including ETFs).  Commissions generated from this 30 day period will be refunded within 90 days.  The terms and conditions are very manageable to get through and there is a well prepared FAQ document that explains how the deal works.  This promotion is set to run until March 31/2014. See table below for more info.

Technically this is the section for ‘new deals’ however Scotia iTrade’s 100 free trade + Flight Desk offer has been substantially modified to warrant placing it in the ‘new’ section.  It appears that Scotia iTrade has reduced the deposit amount required to qualify for this deal from $25,000 to $15,000 and has extended the deadline from the end of March until the end of June.  For those considering the deal, be sure to note the change in promo code also.

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 account at HSBC Invest Direct by March 31st, 2014 and receive 30 calendar days of free equity (including ETF) trading of North American and International equities. This offer is open to new and existing HSBC InvestDirect clients. Be sure to read the terms and conditions and the FAQs for more details. $0 Unlimited equity trades (commissions to be rebated within 90d) 30 days HSBC Dalbar Award Offer Terms & Conditions. For FAQ information, click here March 31, 2014
Open a new account with RBC Direct Investing before March 3, 2014 and they will offer 20 commission free trades that are good for use for up to 90 days. Use promo code: 20W17 when opening the account. Be sure to read the offer page and the terms and conditions page for full information. $0 20 free trades (equity & etf) 90 days For the offer page, click here and for the terms and conditions, click here March 3, 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 “25FTNE” 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 March 31, 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 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 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 UNLIMITEDW14 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 March 3, 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 March 31, 2014
Deposit $5,000 into an RSP and $5,000 into either a cash or TFSA account and Credential Direct will waive the $50 administration fee for the RSP account. Be sure to contact their customer service to clarify the exact terms & conditions. $10,000 ($5000 into RSP + $5000 into TFSA/Cash account) $50 admin fee waived none 5+5 Promotion March 3, 2014
Scotia iTrade Open a new account with Scotia iTrade and fund it with at least $15,000, and you can receive 100 commission-free trades, 60 days of FlightDesk and be entered into a contest for a trip to the Stanley Cup Finals or one of 5 runner-up prizes of iPad Air (64gb). Use Promo code RS13-SCE when opening the account. Existing clients must call customer service to qualify for contest entry. There are lots of terms, conditions, and rules/regulations so be sure to read them for more details. $15,000 100 free trades ($999 max value @ 9.99 commission rate) 60 days Stake Your Claim to the Stanley Cup Promotion March 24, 2014
Transfer $15,000 from another institution into an HSBC InvestDirect account and receive 5 commission-free equity trades. This deal also offers a transfer-fee rebate of up to $150 per account transferred. $15,000 5 commission-free equity trades Trades valid for use until May 31, 2014 HSBC InvestDirect Transfer Fee Promo February 28, 2014
Open a new account before March 31, 2014 with at least a)$20,000 or b)$100,000 and National Bank Direct Brokerage will offer up to a)$500 or b)$1000 in commission fee credits. Use the promo code “CASHBACK2014” when signing up to qualify for this offer. Be sure to read the terms and conditions for this offer especially the refund dates for commission credits. A)$20,000 B)$100,000 A)$500 commission credit B)$1000 commission credit 90 days Invest and get cash back offer March 31, 2014
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 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 at CIBC Investor’s Edge with either A)$25,000 or B)$50,000 and receive either A)$200 + 25 free equity trades or B)$400 + 50 free equity trades. This is an in-branch promotion so contact either customer service or a branch for specific terms and conditions. A)$25,000 B)$50,000 A)$200 + 25 commission-free equity trades B)$400 + 50 commission-free equity trades 1 year Must visit branch to qualify February 1, 2014
BMO InvestorLine Open and fund a new RSP or TFSA account with BMO InvestorLine with either A)$25,000 or B)$50,000 and they will pay either A)$100 or B)$250 cash back. The promo code for the $100 cash back is “SELECTR100” and for the $250 cash back offer is “SELECTR250”. Be sure to read the terms & conditions for more information. A)$25,000 B)$50,000 A)$100 B)$250 Payout occurs after 6 months Registered Account Cross Sell Campaign March 31, 2014
BMO InvestorLine Open and fund a new Cash, Margin, or RSP account with BMO InvestorLine with $25,000 or more and receive $88 cash back. The promo code for the $88 cash back offer is LUNAR2014. Be sure to read the terms & conditions for more information. $25,000 $88 Payout occurs after 3 months 2014 Lunar New Year Promotion February 22, 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 March 31, 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
BMO InvestorLine [Main offer]Open a new account or deposit new funds of $100,00 or more and you can be eligible for cash rebates of $250 and 250 commission-free trades (Promo code: RSP250). [Bonus Offer] If you open a new account or fund another account you could also be eligible for an additional $50 and 50 commission-free trades (Promo code ADD50). Be sure to read the full details & terms of this offer. $100,000 (main offer) $5000 (bonus offer) [main offer] $250 cash back + 250 commission-free trades (max value $2500) [Bonus offer] $50 + 50 commission-free trades 90 days $300 + 300 trade offer March 10, 2014
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, 2014

Transfer Fee Deals

Company Brief Description Maximum Transfer Fee Coverage Amount Deposit Amount for Transfer Fee Eligibility Details Link Deadline
Transfer in $15,000 or more into an HSBC InvestDirect account from another institution, and HSBC will cover up to $150 of transfer fees per funded account. $150 $15,000 HSBC InvestDirect Transfer Fee Promo February 28, 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 March 31, 2014 $150 $25,000 Transfer Fee Promo March 31, 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 March 31, 2014
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Discount Brokerage Deals & Promotions – January 2014

[Updated: Jan 31/2014] *While we thought the beginning of January would be a busy time for deals, we didn’t know it would be THIS crazy. Since the beginning of the month there have been quite a few big announcements. Read below for more details* Welcome to the first discount brokerage deals post of 2014! 2013 was a great year for self-directed investors looking for deals & promotions when opening an online trading account. This past year the promos pitched from Canadian discount brokerages included:

  • commission rebates
  • cash back offers
  • referral bonuses and
  • other incentives (such as AirMiles and iPad minis)

If 2013 was any indication, this year’s competition for new accounts will be even more fierce amongst discount brokerages. Coming into 2014 one discount brokerage (Questrade) actually went so far as to launch a week-long promotion on Boxing Day.  So, while several discount brokerages have extended the deadlines on existing offers well into 2014, they may need to adjust that strategy if/when more aggressive offers start showing up. In terms of timing, with RRSP season right around the corner, there is a good chance DIY investors are going to see some interesting offers surface in the near future.  And on that note, let’s launch into the first deals post for 2014.

Expired Deals

The end of December took with it a couple of discount brokerage deals. First, the TD Direct Investing offer of 50 free trades (which expired on Dec. 20th) and also somewhat mysteriously, the HSBC InvestDirect 50 trade offer.  Why the mystery? Just before the end of the month HSBC InvestDirect had extended the deadline for their offer into March of 2014 however at the writing of this post (on Jan. 1) the offer has been removed from their website. We’ll stay on top of this one to see if the offer does come back in 2014.

Pending Deals

[Update: Jan 2/2014 – Scotia iTrade has now updated terms and conditions with a new expiry date on the refer-a-friend offer. This deal has now been moved to the extended deals section] The Scotia iTrade refer-a-friend offer is back in this section at the time of writing (Jan. 1). The Scotia iTrade website shows the offer available but the terms and conditions are not yet updated beyond Dec. 2013. We’ll check back to see if they extend this offer again and to what date.

Extended Deals

The trend towards extending deals continues with two discount brokerages.  First, Disnat has extended the deadline on their $300 commission credit offer out until the end of March 2014.  Second, BMO InvestorLine has extended their Refer-a-Friend promotion offer well out into next year with the new deadline for this offer being October of 2014. [Updated: Jan 2/2014 – Scotia iTrade’s refer-a-friend deal has now been extended to January 31, 2014]

New Deals

Updated: Jan 31/2014 Even though this is the last day of the January, there was another deal that caught our attention from BMO InvestorLine.  The offer is in celebration of the launch of the traditional Chinese version of the BMO InvestorLine website and also in celebration of Chinese New Year.  For this promotion, those who deposit a minimum of $25,000 may qualify for $88 cash back. See the table below for further details.

Updated: Jan 28/2014 CIBC Investor’s Edge is having a ‘flash promotion’ of sorts on top of their ‘customer appreciation’ program.  From January 26th until February 1st CIBC Investor’s Edge is  offering new clients either a) $400 and 50 equity trades for a $50,000 deposit or b)$200 cash back and 25 equity trades.  The commission-free trades are good for up to one year and they will not be charged up front (so there is no waiting for a rebate). This is an ‘in branch’ promotion that lasts until Feb 1st so unfortunately detailed terms and conditions are not available online.

Updated: Jan 27/2014 As January draws to a close, Virtual Brokers has jumped into the deal pool by offering a 25 free trade offer for new clients that are good for use for up to one year.  The minimum deposit to be eligible for this offer is $1,000.  According to the terms and conditions, the rebates for commission free trades takes place within 8 weeks of the last trade being used so the rebate depends on usage of the ‘free’ trades. Be sure to read the terms and conditions (link below) for full details.

Updated: Jan 21/2014 Another deal spotted this January is the commission credit offer by National Bank Direct Brokerage (NBDB).  NBDB is offering $500 in commission credits for new accounts opened with $20,000 or more, and a $1,000 credit for account deposits of $100,000.  Reimbursement takes place after 90 days according to the schedule laid out in their terms & conditions.

Updated: Jan 14/2014 Even though there are more deals to come for January, the offer announced today by RBC Direct Investing comes in conjunction with lowered commission-fee announcement and is most certainly going to make waves with other discount brokerages as well as with investors.  In terms of the deal, RBC Direct Investing is offering 20 commission-free trades (on equities or ETFs) that are good for up to 90 days.

Updated: Jan 13/2014 Questrade has reintroduced it’s “unlimited” trading offers once again.  With this deal, new or existing clients can get 1, 2 or 3 months of commission-free trading (depending on the deposit) when they open a new TFSA, registered or margin account.

Updated: Jan 11/2014 – A pair of deals/offers also released this week: Update 1: Credential Direct has an offer to waive their $50 RSP administration fee for those who deposit $5000 into their RSP account as well as $5000 into a TFSA or cash account. According to their fee sheet, Credential Direct charges an administration fee of $50 per year on RSPs with balances less than $15,000. Update 2: BMO InvestorLine has announced yet another offer this month.  They are offering cash back for those new or existing clients who open an RSP and/or TFSA accounts.  For deposits of $25,000 or more, the cash back reward is $100 and for deposits of $50,000 or more, the cash back reward is $250. This deal is not listed on the front end of the website however a link is provided to the info below.

Updated: Jan 8/2014 – There have been a number of deals/promotions announced by discount brokerages over the past 2 days.

Update 1: First up was an expected update from BMO InvestorLine. Their current offer (which expires in March 10 2014) is a bit of a twist on their previous $250/250 free trade offer. In the current promotion, the total cash rebate can be as high as $300 and 300 commission-free trades offered (up to a total maximum of $3000 in commission fees). The terms and conditions are incredibly long (~1650 words before examples) so be prepared for some reading to thoroughly understand the deal.  The examples are nicely laid out so that helps in understanding how this offer works.

Update 2: Qtrade Financial has also jumped into the promotional pool by offering a contest for new deposits. Qtrade is holding a draw for a grand prize of $10,000 open to new and existing clients who deposit at least $10,000 in cash or securities into an account.  Every $10,000 gets the depositor 1 entry into the draw. There are also monthly draws for a $1,000 Visa gift card in February, March & April.  The terms and conditions are also a bit lengthy but explain how it works well. The contest runs from January 1, 2014 to March 31, 2014. As this is purely a contest, it is not included in the table below however click here for the Qtrade Financial Best of Canada Giveaway contest.

Update 3: Scotia iTrade has launched a new promotion/contest by offering 100 commission-free trades, 60 days of their FlightDesk and chances to win tickets to the Stanley Cup finals and secondary prizes of 16GB Apple iPad Airs.  For new accounts with at least $15,000, individuals will be eligible to receive the free trades and ballots that will be entered into a draw for their grand prize as well as for the secondary prizes. As an incentive to gain additional deposits, Scotia iTrade is offering 5 ballots for every $5,000 on top of the original deposit amount that comes from a non-Scotia iTrade account.  The good news for those interested in the contest is that there is no purchase necessary in order to enter – an entry into the contest can be made from the Scotia iTrade website.  The terms & conditions along with the rules & regulations of this contest are over 2900 words (~8 pages) so there is quite a bit of material to get through to fully understand the offer. ]

Updated: Jan 2/2014 – Virtual Brokers has added a transfer fee deal in which they will cover up to $150 of the cost of transferring an account over to them (minimum deposit of $25,000)] There aren’t any new deals to report on as of Jan. 1st, however there are two deals that expire within the first week of January which means there may be some new deals to announce shortly. The deal of particular interest is BMO InvestorLine’s $250 cash back & 2 month commission-free trade offer which expires January 6th. 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 or in the comments section.

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 account with RBC Direct Investing before March 3, 2014 and they will offer 20 commission free trades that are good for use for up to 90 days. Use promo code: 20W17 when opening the account. Be sure to read the offer page and the terms and conditions page for full information. $0 20 free trades (equity & etf) 90 days For the offer page, click here and for the terms and conditions, click here March 3, 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 “25FTNE” 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 March 31, 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 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 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 UNLIMITEDW14 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 March 3, 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 January 31, 2014
Deposit $5,000 into an RSP and $5,000 into either a cash or TFSA account and Credential Direct will waive the $50 administration fee for the RSP account. Be sure to contact their customer service to clarify the exact terms & conditions. $10,000 ($5000 into RSP + $5000 into TFSA/Cash account) $50 admin fee waived none 5+5 Promotion March 3, 2014
Scotia iTrade Open a new account with Scotia iTrade and fund it with at least $15,000, and you can receive 100 commission-free trades, 60 days of FlightDesk and be entered into a contest for a trip to the Stanley Cup Finals or one of 5 runner-up prizes of iPad Air (64gb). Use Promo code RS13-SCE when opening the account. Existing clients must call customer service to qualify for contest entry. There are lots of terms, conditions, and rules/regulations so be sure to read them for more details. $15,000 100 free trades ($999 max value @ 9.99 commission rate) 60 days Stake Your Claim to the Stanley Cup Promotion March 24, 2014
Transfer $15,000 from another institution into an HSBC InvestDirect account and receive 5 commission-free equity trades. This deal also offers a transfer-fee rebate of up to $150 per account transferred. $15,000 5 commission-free equity trades Trades valid for use until May 31, 2014 HSBC InvestDirect Transfer Fee Promo February 28, 2014
Open a new account before March 31, 2014 with at least a)$20,000 or b)$100,000 and National Bank Direct Brokerage will offer up to a)$500 or b)$1000 in commission fee credits. Use the promo code “CASHBACK2014” when signing up to qualify for this offer. Be sure to read the terms and conditions for this offer especially the refund dates for commission credits. A)$20,000 B)$100,000 A)$500 commission credit B)$1000 commission credit 90 days Invest and get cash back offer March 31, 2014
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 and fund a new account at CIBC Investor’s Edge with either A)$25,000 or B)$50,000 and receive either A)$200 + 25 free equity trades or B)$400 + 50 free equity trades. This is an in-branch promotion so contact either customer service or a branch for specific terms and conditions. A)$25,000 B)$50,000 A)$200 + 25 commission-free equity trades B)$400 + 50 commission-free equity trades 1 year Must visit branch to qualify February 1, 2014
BMO InvestorLine Open and fund a new RSP or TFSA account with BMO InvestorLine with either A)$25,000 or B)$50,000 and they will pay either A)$100 or B)$250 cash back. The promo code for the $100 cash back is “SELECTR100” and for the $250 cash back offer is “SELECTR250”. Be sure to read the terms & conditions for more information. A)$25,000 B)$50,000 A)$100 B)$250 Payout occurs after 6 months Registered Account Cross Sell Campaign March 31, 2014
BMO InvestorLine Open and fund a new Cash, Margin, or RSP account with BMO InvestorLine with $25,000 or more and receive $88 cash back. The promo code for the $88 cash back offer is LUNAR2014. Be sure to read the terms & conditions for more information. $25,000 $88 Payout occurs after 3 months 2014 Lunar New Year Promotion February 22, 2014
*Expired* 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
*Expired* 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 ; Link To generate an offer code no longer valid. none
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 March 31, 2014
BMO InvestorLine *Expired* 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 & Conditions October 31, 2014
BMO InvestorLine [Main offer]Open a new account or deposit new funds of $100,00 or more and you can be eligible for cash rebates of $250 and 250 commission-free trades (Promo code: RSP250). [Bonus Offer] If you open a new account or fund another account you could also be eligible for an additional $50 and 50 commission-free trades (Promo code ADD50). Be sure to read the full details & terms of this offer. $100,000 (main offer) $5000 (bonus offer) [main offer] $250 cash back + 250 commission-free trades (max value $2500) [Bonus offer] $50 + 50 commission-free trades 90 days $300 + 300 trade offer March 10, 2014
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, 2014

Transfer Fee Deals

Company Brief Description Maximum Transfer Fee Coverage Amount Deposit Amount for Transfer Fee Eligibility Details Link Deadline
Transfer in $15,000 or more into an HSBC InvestDirect account from another institution, and HSBC will cover up to $150 of transfer fees per funded account. $150 $15,000 HSBC InvestDirect Transfer Fee Promo February 28, 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 March 31, 2014 $150 $25,000 Transfer Fee Promo March 31, 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 March 31, 2014
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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
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Discount Brokerage Deals & Promotions – November 2013

*Updated Nov. 18th 2013*

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

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

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

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

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

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

Expired Deals:

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

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

Extended Deals:

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

New Deals:

No new deals announced yet.

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

Discount Brokerage Deals

Company Brief Description Minimum Deposit Amount Commission/Cash Offer Type Time Limit to Use Commission/Cash Offer Details Link Deadline
Jitney Trade A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform. n/a Discounted Commission Rates none For more details click here none
Open a new trading account with HSBC InvestDirect and receive 50 commission-free trades good for use up to 60 days after account opening. n/a 50 commission-free trades 60 days For more details on the free trade offer read the terms and conditions and also the frequently asked questions December 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc $1,000 $50 commission credit none none none
Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account. $1,000 $50 commission credit (friend) $100 commission credit (referrer bonus) 60 days Refer a friend none
Open a new account (TFSA, Margin or RRSP) by November 30 with A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code QT100 must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information. A)$1,000 B)$10,000 A)10 free trades B)100 free trades 60 days 100 commission-free trades November 30, 2013
Open a new account with TD Direct Investing before December 20, 2013 and deposit either A)$5,000 to $24,999 B)$25,000 to $49,999 or C)$50,000 or more to receive commission credits for A) 3 trades, B)10 trades or C) 50 trades. Be sure to read the details about keeping your account balance at qualifying levels, eServices subscription as well as other terms and conditions. A)$5,000 B)$25,000 C)$50,000+ A) 3 Trades (max value $87) commission credit B) 10 trades (max value $290) commission credit C) 50 trades (max value $500) commission credit Must use trades by 4pm (E.T.) February 28, 2014 50 Free Trades Offer December 20, 2013
Scotia iTrade If you refer a friend/family member who is not already a Scotia iTrade account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members’ contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link. A)$10,000 B)$50,000+ A) You(referrer): $50 or 10 free trades; Your “Friend”: $50 or 10 free trades (max total value:$99.90) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $499.50) 60 days Refer A Friend to Scotia iTrade November 30, 2013
Scotia iTrade Open and fund a new Scotia iTRADE account with at least $25,000 before November 25, 2013 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions. $25,000 100 commission-free trades ($999 value @ $9.99 commission rate) 60 days Scotia iTrade 100 free trades + FlightDesk November 25, 2013
Open and fund a new account with $25,000 or more and you will qualify for 25 free trades. The offer code changed with different visits to the site, so click through the RBC Direct Investing homepage to generate a valid code. There are a number of terms and conditions attached to this offer, be sure to read see the details link. $25,000 25 commission-free trades (no restriction on commission rate listed) 365 Days 25 Free Trades Offer Terms & Conditions ; To generate an offer code, go to the main site and click the ad for the offer here November 30, 2013
Disnat Disnat isoffering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $50,000 $300 commission credit 6 months Disnat $300 Commission Credit Promo December 31, 2013
BMO InvestorLine Open a new account or upgrade an existing account with A) $50,000 or more OR B)$100,000 or more and receive either A)250 commission-free mobile-placed trades OR B) 250 commission-free mobile-placed trades + $250 cash back. Use Promo Code: MOBILE when signing up to qualify. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully. A) $50,000 B)$100,000 A) 250 commission free mobile-placed trades B) 250 commission free mobile-placed trades + $250 Cash Back Payout occurs after 6 months Free Mobile Trading/Cash Back Offer January 6, 2014
BMO InvestorLine If you refer a new client to BMO InvestorLine and they open an account with a)$50,000 – $249,999 or b)$250,000+ the referrer and the referee will both receive cash. The new account must be opened with the referral code specific to the referrer. A) $50,000 – $249,000 B) $250,000+ A) You(referrer): $200; Your Friend(referee): $50 B) You(referrer): $300; Your Friend: $100 Payout occurs after 60 days (subject to conditions). Refer-a-Friend terms and conditions can be located by logging into the InvestorLine panel under “account services” or by contacting BMO InvestorLine directly December 31, 2013
Scotia iTrade Open a new account with Scotia iTrade and fund it with at least $100,000 to receive $150 cash back. Use code FALL2013 when signing up. The offer is open to new and existing clients. There are many terms and conditions, be sure to read the details link. $100,000 $150 Cash Back Payout occurs after June 30, 2014. To learn more about the deal terms and conditions click here November 25, 2013


Transfer Fee Deals

Company Brief Description Maximum Transfer Fee Coverage Amount Deposit Amount for Transfer Fee Eligibility Details Link Deadline
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150. $150 $25,000 Transfer Fee Promo none
Transfer $25,000 or more to TD Direct Investing and they will pay up to $150 in transfer fees $150 $25,000 50 Free Trades Offer December 20, 2013
Transfer $25,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees $135 $25,000 Transfer Fee Rebate Details none
Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees $135 $25,000 Transfer Fee Rebate none
Qtrade Investor Qtrade Investor will reimburse your transfer fee up to $125 when transferring a balance of $25,000 or more. For reimbursement, please mail or fax a copy of your statement from the transferring institution that shows the transfer charge to Qtrade Investor at 604.484.2627 and indicate your Qtrade Investor account number. $125 $25,000 Transfer Fee Promo none
Disnat Disnat is offering up to $150 to cover the cost of transfer fees from another institution. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $150 $50,000 Disnat $300 Commission Credit Promo December 31st, 2013
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Discount Brokerage Deals & Promotions – October 2013

ArchivedDealsThis October the deal wheels keep on turning.    Overall, it looks like competition at Canadian discount brokerages is heating up with 6 discount brokerages currently offering some kind of promotion. To help make sense of the deals, this month we’re rolling out Deal Analytics (explained below) which will help provide support to individuals trying to compare offers from discount brokerages.

September saw a number of discount brokerages start to jump into the deal pool in a big way.  RBC Direct Investing, Scotia iTrade and HSBC InvestDirect were just some of the big names that launched some sizable offerings.

October is sure to be filled with many announcements and surprises so be sure to check back through the month as several discount brokerages will be launching either new features and/or promotions to go with them.

Expired Discount Brokerage Deals:

Investors who love their AirMiles will be sad to see this deal depart, however the InvestorLine Airmiles promotion, which expired at the end of September had a fairly decent run.

Extended Discount Brokerage Deals:

Scotia iTrade’s refer-a-friend deal has been extended again, this time with the expiry date set to October 31st 2013.  A rep from Scotia iTrade confirmed that it is likely that this offer will continue on, with the expiry dates continuing to be updated as required.

New Discount Brokerage Deals:

Of course one of the biggest deals launched this month is the BMO InvestorLine offer of 250 commission-free mobile trades and $250 cash (depending on the size of the account deposit).  This deal is a unique offering because it signals a definite interest by BMO InvestorLine to have clients use their mobile trading platform.  The fact that the time frame of the deal goes through until January is also another indicator that BMO InvestorLine is prepared to double down on deals and mobile.   For those interested, be sure to read their terms and conditions as there are important restrictions (TFSAs don’t qualify for this promo for example).

Deal Analytics

This new addition to the deals section is intended to help provide an improved way of seeing what kinds of deals are being offered by different discount brokerages.  Starting this month, a table summarizing the “Free Trade / Commission Credit” offers will provide an overview of discount brokerages offering ‘commission free’ trading and those offering commission credits.  This section will likely evolve from the current format so if you have any feedback on what you’d like to see in there, drop us a note here.

Commission-Free Trading Offers

To read the commission-free trading offers, the numbers contained in the cells of the table refer to the number of commission free trades being offered.  Beside the number is another number in round brackets (ex. 60d) which refers to the time period associated with being able to use those commission-free trades.  So, for example, an entry like 100(60d) means that there are 100 commission-free trades being offered with an expiry date of 60 days.

When a commission credit is being offered, an estimated range of how many free trades the credit would result in is offered and is contained in square brackets (ex: [5-10] refers to between 5 and 10 trades). The actual amount of the commission credit is denoted with a “CR:” (for example CR:$300).

There may be entries that are combined with offers, and in these instances there will be a “+” symbol beside the number of trades to indicate there may be additional parts to the offer.

Deal Analytics

Commission-Free Trading & Commission Credit Offers #colspan# #colspan# #colspan# #colspan# #colspan# #colspan#
Deposit Amount #colspan# #colspan# #colspan# #colspan# #colspan#
#rowspan# Not Required $1000 $10,000 $25,000 $50,000 $100,000
BMO InvestorLine 250 (60d) 250 (60d)+
Disnat [10-60] (180d) CR:$300
50 (60d)
1. 10 (60d) 2. [5-10] (no expiry) CR:$50 100 (60d) unlimited trades (30d)
25 (365d)
Scotia iTrade 100 (60d)

Discount Brokerage Deals

Company Brief Description Minimum Deposit Amount Commission/Cash Offer Type Time Limit to Use Commission/Cash Offer Details Link Deadline
Jitney Trade A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform. n/a Discounted Commission Rates none For more details click here none
Open a new trading account with HSBC InvestDirect and receive 50 commission-free trades good for use up to 60 days after account opening. n/a 50 commission-free trades 60 days For more details on the free trade offer read the terms and conditions and also the frequently asked questions December 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc $1,000 $50 commission credit none none none
Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account. $1,000 $50 commission credit (friend) $100 commission credit (referrer bonus) 60 days Refer a friend none
Open a new account (TFSA, Margin or RRSP) by November 30 with A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code QT100 must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information. A)$1,000 B)$10,000 A)10 free trades B)100 free trades 60 days 100 commission-free trades November 30, 2013
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 October 31, 2013
Scotia iTrade Open and fund a new Scotia iTRADE account with at least $25,000 before November 25, 2013 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions. $25,000 100 commission-free trades ($999 value @ $9.99 commission rate) 60 days Scotia iTrade 100 free trades + FlightDesk November 25, 2013
Open and fund a new account with $25,000 or more and you will qualify for 25 free trades. The offer code changed with different visits to the site, so click through the RBC Direct Investing homepage to generate a valid code. There are a number of terms and conditions attached to this offer, be sure to read see the details link. $25,000 25 commission-free trades (no restriction on commission rate listed) 365 Days 25 Free Trades Offer Terms & Conditions ; To generate an offer code, go to the main site and click the ad for the offer here November 30, 2013
Open a new account with National Bank Direct Brokerage before Oct. 31st and the commission rate for equity transactions will be fixed at $6.95 for 6 months. Use promo code: EVENT2013. Since this is unadvertised, you’ll have to call their customer service line: 1-800-363-3511 for full details. $25,000 $6.95 fixed commission rate for 6 months 6 months Click here for a low-res version of flyer or here for a high-res version. October 31, 2013
If you refer a friend/family member who is not already a National Bank Direct Brokerage account holder to them, both you and your friend get a bonus of $100 each. The promotion code “FRIEND” must be used on the account application form. Read the details link for full terms and conditions. Note the maximum referral bonus per client is $1000. $25,000 $100 referral bonus (referrer) $100 referee (your “friend”) Payout occurs after 6 months Share $200 with a Friend Promotion October 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive 30 days of commission-free trading and one month free of the US Advanced market data package. Use promo code ADVANTAGE13 when signing up. Offer is open to new clients only. There are a number of important conditions to qualify – be sure to read terms and conditions to the deal. $25,000 30 days unlimited commission-free trading + 1 month free Advanced US market data package. 30 days Advantage Promotion October 31, 2013
Disnat Disnat isoffering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $50,000 $300 commission credit 6 months Disnat $300 Commission Credit Promo December 31, 2013
BMO InvestorLine Open a new account or upgrade an existing account with A) $50,000 or more OR B)$100,000 or more and receive either A)250 commission-free mobile-placed trades OR B) 250 commission-free mobile-placed trades + $250 cash back. Use Promo Code: MOBILE when signing up to qualify. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully. A) $50,000 B)$100,000 A) 250 commission free mobile-placed trades B) 250 commission free mobile-placed trades + $250 Cash Back Payout occurs after 6 months Free Mobile Trading/Cash Back Offer January 6, 2014
BMO InvestorLine If you refer a new client to BMO InvestorLine and they open an account with a)$50,000 – $249,999 or b)$250,000+ the referrer and the referee will both receive cash. The new account must be opened with the referral code specific to the referrer. A) $50,000 – $249,000 B) $250,000+ A) You(referrer): $200; Your Friend(referee): $50 B) You(referrer): $300; Your Friend: $100 Payout occurs after 60 days (subject to conditions). Refer-a-Friend terms and conditions can be located by logging into the InvestorLine panel under “account services” or by contacting BMO InvestorLine directly December 31, 2013
Scotia iTrade Open a new account with Scotia iTrade and fund it with at least $100,000 to receive $150 cash back. Use code FALL2013 when signing up. The offer is open to new and existing clients. There are many terms and conditions, be sure to read the details link. $100,000 $150 Cash Back Payout occurs after June 30, 2014. To learn more about the deal terms and conditions click here November 25, 2013


Transfer Fee Deals

Company Brief Description Maximum Transfer Fee Coverage Amount Deposit Amount for Transfer Fee Eligibility Details Link Deadline
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150. $150 $25,000 Transfer Fee Promo none
Transfer $25,000 or more to 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
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Discount Brokerage Deals & Promotions – September 2013

ArchivedDealsUpdated Sept. 20/13

September is here, and with it comes a number of deal extensions from Canadian discount brokerages.  Going into the home stretch of the calendar year, several factors might be at play that explain why there are more ‘extensions’ of deals than new deals appearing just yet.

First, a number of financial firms that have their year-end (mostly at the October 31st mark) which means some firms might want to figure out marketing plans (and budgets) based on the year’s performance and market conditions. In other words, it might be a bit of coasting as far as deals are concerned until the results from the year are tallied up.

Another important factor is that stock market activity (and therefore investor activity) tends to pick up at the tail end of the year. More investors in the marketplace should mean that discount brokers will be jockeying for clients. Recent history has shown, however, that investors have been reluctant to come back to stock markets and only this past year have trends started to show a return of retail investor interest.   As the retail investor landscape evolves, there may be some caution around the size of deals that will be put forward.

Lastly, several discount brokerage rankings get published within the last calendar quarter of the year including the “JD Power Investor Satisfaction Survey”, the “Online Broker Rankings” from Rob Carrick at the Globe and Mail and the Morningstar award for “Best Discount Broker”.  Marketing teams will be in ‘wait and see’ mode to respond to these popular evaluations.

Putting these pieces together, it might help account for the fact that this month there are more ‘extensions’  of several offers rather than the introduction of anything new just yet.  Also, at the time of writing this post, it is Labour Day weekend and there are still some discount brokerages who haven’t updated their offers on their websites.

Nonetheless, there are a couple of things that I’ll be on the lookout for in early September which will likely result in an update of the deals section in the early part of this month.  Most notably, the BMO InvestorLine ‘AirMiles’ deal expires September 4th so there should be either an extension or a new promotion that is coming up.*UPDATE*: BMO InvestorLine has extended the deadline for the AirMiles promotion to September 30th.

Expired Discount Brokerage Deals:

As of the publishing of this post, there were three two deals that expired at the end of August:

  • National Bank Direct Brokerage’s Margin Account deal
  • Questrade’s Unlimited trading offer
  • Scotia iTrade’s 100 commission-free trades deal  *UPDATE*: This deal has been extended until November 25th.

Of the three deals, the lapsing of Scotia iTrade’s commission-free trading offer means that Disnat and Questrade are now the two discount brokerages offering trading commission-credits. *UPDATE*: The good news is that Scotia iTrade’s commission free offer is back and such there are now three discount brokerages offering commission-credit promotions.

Extended Discount Brokerage Deals:

This month three four discount brokerages have extended several of their deals and promotions.

  • Disnat has decided to extend their $300 commission credit deal out until December 31st, 2013 and also have changed the promo code.
  • Questrade has extended their ‘100 free trade’ offer out until November 30th – note that the promo code for this deal has been changed too.
  • Questrade has also extended their ‘Advantage’ linked deal out until the end of October and also updated the promo code associated with it.
  • Scotia iTrade has extended their refer-a-friend promotion deadline out for another month to September 30th.
  • *UPDATE* – BMO InvestorLine Airmiles promotion extended out until September 30th.
  • *UPDATE* – Scotia iTrade extended 100 commission-free trade offer deadline to November 25th.

New Discount Brokerage Deals: (Updated 9/20/13)

At the outset of September there are no new deals to report however there is the deal from BMO InvestorLine that is set to expire in the first week, so there may be something new coming soon. (*UPDATE* : this deal has since been extended)

  • (Update 9/9/13) A 25 free trade deal from RBC Direct Investing has been advertised on their website; included as part of the offer is a transfer fee promo
  • (Update 9/20/13) HSBC InvestDirect is offering 50 free trades to new clients
  • (Update 9/20/13) Scotia iTrade has announced a $150 cash back offer for new or existing clients making a $100,000 deposit
Company Brief Description Minimum Deposit Amount Commission/Cash Offer Type Time Limit to Use Commission/Cash Offer Details Link Deadline
Jitney Trade A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform. n/a Discounted Commission Rates none For more details click here none
Open a new trading account with HSBC InvestDirect and receive 50 commission-free trades good for use up to 60 days after account opening. n/a 50 commission-free trades 60 days For more details on the free trade offer read the terms and conditions and also the frequently asked questions December 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc $1,000 $50 commission credit none none none
Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account. $1,000 $50 commission credit (friend) $100 commission credit (referrer bonus) 60 days Refer a friend none
Open a new account (TFSA, Margin or RRSP) by November 30 with A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code QT100 must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information. A)$1,000 B)$10,000 A)10 free trades B)100 free trades 60 days 100 commission-free trades November 30, 2013
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 September 30, 2013
Scotia iTrade Open and fund a new Scotia iTRADE account with at least $25,000 before November 25, 2013 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions. $25,000 100 commission-free trades ($999 value @ $9.99 commission rate) 60 days Scotia iTrade 100 free trades + FlightDesk November 25, 2013
Open and fund a new account with $25,000 or more and you will qualify for 25 free trades. The offer code changed with different visits to the site, so click through the RBC Direct Investing homepage to generate a valid code. There are a number of terms and conditions attached to this offer, be sure to read see the details link. $25,000 25 commission-free trades (no restriction on commission rate listed) 365 Days 25 Free Trades Offer Terms & Conditions ; To generate an offer code, go to the main site and click the ad for the offer here November 30, 2013
Open a new account with National Bank Direct Brokerage before Oct. 31st and the commission rate for equity transactions will be fixed at $6.95 for 6 months. Use promo code: EVENT2013. Since this is unadvertised, you’ll have to call their customer service line: 1-800-363-3511 for full details. $25,000 $6.95 fixed commission rate for 6 months 6 months Click here for a low-res version of flyer or here for a high-res version. October 31, 2013
If you refer a friend/family member who is not already a National Bank Direct Brokerage account holder to them, both you and your friend get a bonus of $100 each. The promotion code “FRIEND” must be used on the account application form. Read the details link for full terms and conditions. Note the maximum referral bonus per client is $1000. $25,000 $100 referral bonus (referrer) $100 referee (your “friend”) Payout occurs after 6 months Share $200 with a Friend Promotion October 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive 30 days of commission-free trading and one month free of the US Advanced market data package. Use promo code ADVANTAGE13 when signing up. Offer is open to new clients only. There are a number of important conditions to qualify – be sure to read terms and conditions to the deal. $25,000 30 days unlimited commission-free trading + 1 month free Advanced US market data package. 30 days Advantage Promotion October 31, 2013
Disnat Disnat isoffering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $50,000 $300 commission credit 6 months Disnat $300 Commission Credit Promo December 31, 2013
BMO InvestorLine 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
BMO InvestorLine Open a new account or upgrade an existing account with $100,000 and choose to receive either $250 cash back or 2000 Air Miles. Use Promo Code: BONUS250 to receive the cash back offer or BONUSAM (+ Air Miles Collector #) to receive the Air Miles offer. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully. $100,000 $250 Cash Back OR 2000 Air Miles Payout occurs after 6 months Air Miles Promotion September 30, 2013
Scotia iTrade Open a new account with Scotia iTrade and fund it with at least $100,000 to receive $150 cash back. Use code FALL2013 when signing up. The offer is open to new and existing clients. There are many terms and conditions, be sure to read the details link. $100,000 $150 Cash Back Payout occurs after June 30, 2014. To learn more about the deal terms and conditions click here November 25, 2013

Transfer Fee Deals

Company Brief Description Maximum Transfer Fee Coverage Amount Deposit Amount for Transfer Fee Eligibility Details Link Deadline
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150. $150 $25,000 Transfer Fee Promo none
Transfer $25,000 or more to 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
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Discount Brokerage Deals & Promotions – August 2013

ArchivedDealsAugust Discount Brokerage Deals Overview

The discount brokerage deals activity remains largely in a holding pattern as we move into August.  While there were a couple of noteworthy deals that expired in July, the bigger news last month was Questrade’s announcement that they would be re-introducing their unlimited trading offer.  Currently Questrade is offering the most promotions of any Canadian online brokerage however with four major promotions set to expire at the end of August and one in early September, there are plenty of opportunities for other discount brokerages to step up their promotion activity.   We’ll be watching the chatter closely this month as there are already signs certain discount brokerages are making some interesting moves to improve their existing and potential client experiences.

Expired Discount Brokerage Deals

The major deal that expired in mid-July was TD Direct Investing’s 50 Free Trade offer along with their transfer fee promotion.  Our search data shows that there is still some interest in the deal, so there is likely some appetite for this offer still out there. TD Direct Investing, however, rarely ran these kinds of deals in the past so it may be some time before something like it returns.

Extended Discount Brokerage Deals

Scotia iTrade’s Refer-a-Friend promotion has been extended to August 31st.

New Discount Brokerage Deals

Questrade announced the return of their Infinite Trading promotion which offers 3 months of commission-free trading for deposits of $50,000 or more.  For deposits between $10,000 and $24,999 they offer 1 month of commission free trading and for deposits between $25,000 and $49,999 new signups receive 2 months of commission-free trading.  This deal expires August 31st, 2013.

Discount Brokerage Deals & Promos

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 margin account with National Bank Direct Brokerage before August 31st 2013 and receive a 1% discount of prime for a margin interest rate. Also, commission rates will be fixed at $6.95 for 3 months. Be sure to read the terms and conditions as well as understand the risks associated with trading on margin. Use promo code: “MARGIN2013” when signing up. n/a – while no minimum deposit is required, you must pass a credit check to qualify 1% of prime rate for margin borrowing $6.95 fixed commission rate for 3 months Margin rate discount: 3 months Commission rate discount: 3 months Click here for margin promo details and here for terms and conditions August 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 August 31st with A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code 100Free95 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 31, 2013
Open and fund a new registered, margin or TFSA account and fund it within 30 days with either A)$10,000 B )$25,000 or C)$50,000 and you will be eligible to receive either unlimited free trading for A) 1 month, B) 2 months or C) 3 months depending on your deposit amounts. You must the code UNLIMITED to qualify. This is open to new and existing clients. There’s lots of fine print so be sure to read the details link. A)$10,000 B)$25,000 C)$50,000 Unlimited trading (No commissions charged on any trades placed) A) 31 days B) 62 days C) 90 days Unlimited Free Trading Offer August 31, 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:$199.80) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $999) 60 days Refer A Friend to Scotia iTrade August 31, 2013
Scotia iTrade Open and fund a new Scotia iTRADE account with at least $25,000 before September 30, 2013 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions. $25,000 100 commission-free trades ($999 value @ $9.99 commission rate) 60 days Scotia iTrade 100 free trades + FlightDesk September 30, 2013
Open a new account with National Bank Direct Brokerage before Oct. 31st and the commission rate for equity transactions will be fixed at $6.95 for 6 months. Use promo code: EVENT2013. Since this is unadvertised, you’ll have to call their customer service line: 1-800-363-3511 for full details. $25,000 $6.95 fixed commission rate for 6 months 6 months Click here for a low-res version of flyer or here for a high-res version. October 31, 2013
If you refer a friend/family member who is not already a National Bank Direct Brokerage account holder to them, both you and your friend get a bonus of $100 each. The promotion code “FRIEND” must be used on the account application form. Read the details link for full terms and conditions. Note the maximum referral bonus per client is $1000. $25,000 $100 referral bonus (referrer) $100 referee (your “friend”) Payout occurs after 6 months Share $200 with a Friend Promotion October 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive 30 days of commission-free trading and one month free of the US Advanced market data package. Use promo code ADVANTAGE when signing up. Offer is open to new clients only. There are a number of important conditions to qualify – be sure to read terms and conditions to the deal. $25,000 30 days unlimited commission-free trading + 1 month free Advanced US market data package. 30 days Advantage Promotion August 31, 2013
Disnat Disnat is celebrating its 30th anniversary by 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 Disnat30. See details link for more info. $50,000 $300 commission credit 6 months Disnat 30th Anniversary Promo August 30, 2013
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
BMO InvestorLine Open a new account or upgrade an existing account with $100,000 and choose to receive either $250 cash back or 2000 Air Miles. Use Promo Code: BONUS250 to receive the cash back offer or BONUSAM (+ Air Miles Collector #) to receive the Air Miles offer. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully. $100,000 $250 Cash Back OR 2000 Air Miles Payout occurs after 6 months Air Miles Promotion September 4, 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 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 celebrating its 30th anniversary by 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 Disnat30. See details link for more info. $150 $50,000 Disnat 30th Anniversary Promo August 30, 2013
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Discount Brokerage Deals & Promotions – July 2013

ArchivedDeals[Updated July 2nd]

For the most part, many of July’s discount brokerage deals and promotions look to be mostly similar to last month’s offering.   First, I’ll recap of the deals that expired at the end of June and then launch into the deals that got extended and round out with the newest offerings.

Expired Deals

Three discount brokerages had their deals expire coming into July:

  • Scotia iTrade’s 100 Free Trades + Flight Desk Promotion [Now extended to September 30, 2013]
  • Disnat’s SCATE tour  promotion (and transfer fee credit that goes with it)
  • Credential Direct’s transfer fee credit promotion

TD Direct Investing’s 50 commission-free trade offer is scheduled to expire just before mid-July and we will be watching to see what, if anything, will replace it at that time.

Extended Deals

Sometimes it’s just too hard to say good-bye to a deal.  Scotia iTrade has extended the deadline for their Refer-a-Friend promotion out to July 31st  as well as their 100 Commission-Free Trade offer (extended until September 30th). Questrade has added some more time to the clock of their Advantage promotion, which offers 1 month of unlimited commission free trading, moving its expiry date out to the end of August.

Newly Added Discount Brokerage Deals

Although this is not the first time Questrade has offered 100 commission-free trades, the current 100 commission-free trade offer does make it the only Canadian discount brokerage to have a 100 commission-free trade promotion on the table makes them one of two discount brokerages (the other being Scotia iTrade) to offer 100 commission-free trades. The terms and conditions on the Questrade deal are numerous, so be sure to read and understand the requirements (especially the account funding rules) when considering this offer.  The offer is open to new accounts depositing at least $10,000.

Out of the 12 13 deals on this month’s list, Questrade and National Bank Direct Brokerage make up just over half of the offers.  Given the competitive nature of the discount brokerage business, however, it is not likely that the remaining discount brokerages will sit out of offering deals for very long.

As always, if there are any deals or promotions that you spot that you think should be featured, feel free to drop me a note here.

Discount Brokerage Deals & Promos

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 margin account with National Bank Direct Brokerage before August 31st 2013 and receive a 1% discount of prime for a margin interest rate. Also, commission rates will be fixed at $6.95 for 3 months. Be sure to read the terms and conditions as well as understand the risks associated with trading on margin. Use promo code: “MARGIN2013” when signing up. n/a – while no minimum deposit is required, you must pass a credit check to qualify 1% of prime rate for margin borrowing $6.95 fixed commission rate for 3 months Margin rate discount: 3 months Commission rate discount: 3 months Click here for margin promo details and here for terms and conditions August 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 August 31st with A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code 100Free95 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 31, 2013
Open a new account with TD Direct Investing before July 12, 2013 and deposit either A)$5,000 to $25,000 B)$25,000 to $50,000 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 Trades must be used by September 30, 2013 4pm ET. 50 free trades offer July 12, 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:$199.80) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $999) 60 days Refer A Friend to Scotia iTrade July 31, 2013
Scotia iTrade Open and fund a new Scotia iTRADE account with at least $25,000 before September 30, 2013 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions. $25,000 100 commission-free trades ($999 value @ $9.99 commission rate) 60 days Scotia iTrade 100 free trades + FlightDesk September 30, 2013
Open a new account with National Bank Direct Brokerage before Oct. 31st and the commission rate for equity transactions will be fixed at $6.95 for 6 months. Use promo code: EVENT2013. Since this is unadvertised, you’ll have to call their customer service line: 1-800-363-3511 for full details. $25,000 $6.95 fixed commission rate for 6 months 6 months Click here for a low-res version of flyer or here for a high-res version. October 31, 2013
If you refer a friend/family member who is not already a National Bank Direct Brokerage account holder to them, both you and your friend get a bonus of $100 each. The promotion code “FRIEND” must be used on the account application form. Read the details link for full terms and conditions. Note the maximum referral bonus per client is $1000. $25,000 $100 referral bonus (referrer) $100 referee (your “friend”) Payout occurs after 6 months Share $200 with a Friend Promotion October 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive 30 days of commission-free trading and one month free of the US Advanced market data package. Use promo code ADVANTAGE when signing up. Offer is open to new clients only. There are a number of important conditions to qualify – be sure to read terms and conditions to the deal. $25,000 30 days unlimited commission-free trading + 1 month free Advanced US market data package. 30 days Advantage Promotion August 31, 2013
Disnat Disnat is celebrating its 30th anniversary by 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 Disnat30. See details link for more info. $50,000 $300 commission credit 6 months Disnat 30th Anniversary Promo August 30, 2013
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
BMO InvestorLine Open a new account or upgrade an existing account with $100,000 and choose to receive either $250 cash back or 2000 Air Miles. Use Promo Code: BONUS250 to receive the cash back offer or BONUSAM (+ Air Miles Collector #) to receive the Air Miles offer. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully. $100,000 $250 Cash Back OR 2000 Air Miles Payout occurs after 6 months Air Miles Promotion September 4, 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
Open a new account by July 12, 2013 and transfer $25,000 or more to TD Direct Investing and they will cover up to $150 of the brokerage transfer fees. $150 $25,000 50 free trades offer July 12, 2013
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 celebrating its 30th anniversary by 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 Disnat30. See details link for more info. $150 $50,000 Disnat 30th Anniversary Promo August 30, 2013
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Discount Brokerage Deals & Promotions – June 2013

ArchivedDeals[Updated June 12th]

With summer just around the corner, a few of Canada’s discount brokerages are going to be working a little harder this month to try and win over self-directed investors.  The recently announced earnings from several major Canadian banks indicate that they aren’t making as much money as their shareholders are expecting. As a result, getting more clients and assets will surely be on their to do list to boost their bottom lines. For consumers, they can expect much more marketing coming their way from the big banks as well as the independent discount brokerages who wish to keep pace.

While likely unrelated, the timing of the deal being offered by TD Direct Investing this month is particularly intriguing.  TD Direct Investing has typically avoided deals and promotions, especially the “free trade” variety.  So, their “50 free trade” offer launched at the end of May is somewhat of a major departure from their previous approaches to attract new clients. The end date of the free trade deal, which they can admittedly change at any time, was also curiously positioned to expire mid-July.

BMO Investorline’s cash back promo is set to expire a few days into June, so the next offer, should there be one, is what we’re looking out for over the coming month.  BMO InvestorLine has announced their latest promotion which offers new accounts the choice between $250 cash back or 2000 Air Miles when a deposit of $100,000 or more is made.  This isn’t the first time Air Miles have been offered for signing up for an InvestorLine account, however after Scotia iTrade’s “Get Educated” promo it seems that the big bank-owned discount brokerages are starting to get more creative with their promotions.

Overall, this summer could prove to be fairly interesting from a deals perspective for a number of reasons. Most importantly, there are five deals which are scheduled to expire within this month signalling that marketing teams are faced with deciding where and how to outsmart one another.  For their part, Scotia iTrade looked to using a contest (the “Get Educated” promotion) and waving around some big prize money to get the attention of existing and would be investors.  Questrade‘s Advantage promotion also expires at the end of the month – just make sure to read through and understand the terms and conditions, in particular for start dates for data packages, minimum account balance maintenance and start dates for the commission-free trading month.

Coming up with something ‘new’ isn’t nearly as easy as just extending the expiry dates of existing deals, which is exactly what a couple of discount brokerages have done.  Scotia iTrade has extended their refer-a-friend deal and Disnat has extended their 30th anniversary deal until the end of August.  Also still on the table is another offer by Disnat that was part of their SCATE tour.

We will continue to monitor the deals over the course of the month and, as always, if there are any offers you spot that you’d like to share, please drop us a note.

[Updated June 12]

National Bank Direct Brokerage has just announced a promotion on their margin accounts (for 3 months) which also includes a fixed commission rate of $6.95 per trade.  To qualify for this account, clients will have to pass a credit check as margin accounts essentially allow clients to borrow money in order to trade with greater buying power.  The discount on margin rates is definitely something different than what is being offered currently so it will be sure to attract the interest of those investors/traders who use margin as part of their strategy.

 

Discount Brokerage Deals & Promos

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 margin account with National Bank Direct Brokerage before August 31st 2013 and receive a 1% discount of prime for a margin interest rate. Also, commission rates will be fixed at $6.95 for 3 months. Be sure to read the terms and conditions as well as understand the risks associated with trading on margin. Use promo code: “MARGIN2013” when signing up. n/a – while no minimum deposit is required, you must pass a credit check to qualify 1% of prime rate for margin borrowing $6.95 fixed commission rate for 3 months Margin rate discount: 3 months Commission rate discount: 3 months Click here for margin promo details and here for terms and conditions August 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 with TD Direct Investing before July 12, 2013 and deposit either A)$5,000 to $25,000 B)$25,000 to $50,000 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 Trades must be used by September 30, 2013 4pm ET. 50 free trades offer July 12, 2013
Disnat As a follow up to their SCATE tour, Disnat is offering new clients who deposit $10,000 before June 30, 2013 a bundle that includes commission credits and a one year free subscription to Tyler Bollhorn’s Stockscores daily newsletter. This is an unadvertised deal so the details link is to a scan of the flyer with the offer. $10,000 $300 commission credit 30 days For more details, click here and here June 30, 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:$199.80) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $999) 60 days Refer A Friend to Scotia iTrade June 30, 2013
Scotia iTrade Open and fund a new Scotia iTRADE account with at least $25,000 before June 30, 2013 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions. $25,000 100 free trades ($999 value @ $9.99 commission rate) 60 days Scotia iTrade 100 free trades + FlightDesk June 30, 2013
Open a new account with National Bank Direct Brokerage before Oct. 31st and the commission rate for equity transactions will be fixed at $6.95 for 6 months. Use promo code: EVENT2013. Since this is unadvertised, you’ll have to call their customer service line: 1-800-363-3511 for full details. $25,000 $6.95 fixed commission rate for 6 months 6 months Click here for a low-res version of flyer or here for a high-res version. October 31, 2013
If you refer a friend/family member who is not already a National Bank Direct Brokerage account holder to them, both you and your friend get a bonus of $100 each. The promotion code “FRIEND” must be used on the account application form. Read the details link for full terms and conditions. Note the maximum referral bonus per client is $1000. $25,000 $100 referral bonus (referrer) $100 referee (your “friend”) Payout occurs after 6 months Share $200 with a Friend Promotion October 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive 30 days of commission-free trading and one month free of the US Advanced market data package. Use promo code ADVANTAGE when signing up. Offer is open to new clients only. There are a number of important conditions to qualify – be sure to read terms and conditions to the deal. $25,000 30 days unlimited commission-free trading + 1 month free Advanced US market data package. 30 days Advantage Promotion June 30, 2013
Disnat Disnat is celebrating its 30th anniversary by 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 Disnat30. See details link for more info. $50,000 $300 commission credit 6 months Disnat 30th Anniversary Promo August 30, 2013
BMO InvestorLine Open a new account or upgrade an existing account with $100,000 and choose to receive either $250 cash back or 2000 Air Miles. Use Promo Code: BONUS250 to receive the cash back offer or BONUSAM (+ Air Miles Collector #) to receive the Air Miles offer. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully. $100,000 $250 Cash Back OR 2000 Air Miles Payout occurs after 6 months Air Miles Promotion September 4, 2013

Transfer Fee Deals

Below are the discount brokerages deals that cover transfer out fees from other discount brokerages.

Company Brief Description Maximum Transfer Fee Coverage Amount Deposit Amount for Transfer Fee Eligibility Details Link Deadline
Transfer your discount brokerage account to Credential Direct and they’ll pay up to $200 of the transfer fees. If after 90 days you’re not satisfied they will waive the $125 transfer out fee too. $200 $10,000 Switch Me Promo June 30, 2013
Disnat As part of their SCATE tour promotion, if you open a new account by June 30th with $10,000 or more Disnat will cover up to $150 of the transfer fees from another brokerage. $150 $10,000 For more details, click here and here June 30, 2013
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150. $150 $25,000 Transfer Fee Promo none
Open a new account by July 12, 2013 and transfer $25,000 or more to TD Direct Investing and they will cover up to $150 of the brokerage transfer fees. $150 $25,000 50 free trades offer July 12, 2013
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 celebrating its 30th anniversary by 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 Disnat30. See details link for more info. $150 $50,000 Disnat 30th Anniversary Promo August 30, 2013