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Posted on January 9, 2015 by user — Leave a comment

Discount Brokerage Weekly Roundup – January 9, 2015

Whether it’s oil prices, temperatures or Calvin Klein, January has started with a clear theme of racing to the bottom. Thankfully, there’s been a bright spot this past week at the Consumer Electronics Show in Las Vegas where the focus has been on innovation. The latest and most intriguing gadgets get showcased at the show and reinforces something that Canadian brokerages know all too well – to get ahead you have to keep innovating.

In this week’s discount brokerage roundup, we take the theme of ‘innovation’ and review some of the exciting changes that Canada’s online brokerages have planned for 2015 that they mentioned in our special year in review and look ahead piece. We’ll also shine the spotlight on an upcoming conference in Vancouver that’s sure to be on the minds of many resource stock investors. Lastly, be sure to check out some of the interesting conversations between investors from the investor forums.

Discount Brokerages in 2015

It’s been a familiar refrain for over 10 years now – Canada’s online brokerages are in a very competitive arena. While the commission prices were slow to fall, they gradually have been declining with last year providing an incredible price shock across the board.

For 2015, however, many discount brokerages are hoping that commission prices stay put. Even if prices do stand still, the collective perspectives we gathered show that no Canadian online brokerages can afford do so.

We’ve collected the hints and references to what’s coming next that the brokerages that participated provided to us and summarized them below. It should come as no surprise, however, that brokerages provided only a fraction of what they’re actually working on. Nonetheless, here is a brief summary of what we’ve gleaned for 2015.

CIBC Investor’s Edge – Upcoming Features: Documentation/Trade Confirmations

There’s definitely been a resurgence of interest in CIBC Investor’s Edge after their pricing drop announcement. However, there’ve also been a whole host of other activities ‘behind the scenes’ that CIBC has undertaken in order to improve their client experience. One of the key areas of focus will be on paperless confirmations and ‘digitizing’ the record-keeping (and compliance) aspects of online investing.

Credential Direct – Upcoming Features: Webinars & Seminars

Credential Direct has hinted that the upcoming year will be one in which they continue to build on the investor education theme with webinars and seminars. This past week we also spotted a posting for additional marketing support indicating that we can expect Credential Direct to get themselves back into the spotlight in the not too distant future.

Desjardins Online Brokerage – Upcoming Features: Client Experience

The term ‘client experience’ is admittedly broad. That said, it is an accurate reflection of the way Desjardins Online Brokerage is approaching the changes it has planned for 2015. Probably the biggest ‘hint’ of what’s to come came from the interview with Laurent Blanchard, VP & General Manager of Desjardins Online Brokerage, where he let viewers know that a new website is coming soon.

Jitneytrade – Upcoming Features: Trading Platform

Jitneytrade revealed that they’re planning to upgrade their web-based trading platform to enable users to now access account data as well as trade data from the same place. We suspect, however, that recent moves by other brokerages (such as BMO InvestorLine) into the active trader space, direct competitors Interactive Brokers into the registered account space and equity market volatility may spell an interesting 2015 for active traders and Jitneytrade.

National Bank Direct Brokerage – Upcoming Features: Investor Education

The president of National Bank Direct Brokerage, Nancy Paquet, shared her sentiments about 2015 in her interview and in the review piece with a clear message: investor education is going to be a priority in 2015. We’ve already seen their investor education providers and topics broaden. NBDB is kicking off 2015 with a lot of effort to help investors understand their latest product ‘Investcube’. Interestingly, they have increased their push into in-depth investor education by partnering with Learn to Trade Global, whose principal instructors also do work for the Montreal Exchange in teaching about options.

Questrade – Upcoming Features: Platforms

Questrade is not one to stand still for very long. As we reported last week, 2015 may hold more surprises in their wealth management arm with the possible launch of ETFs. From the direct investing side, however, 2015, looks like Questrade will focus on improving their trading experience on the IQ mobile, improving charting and option analytics.

RBC Direct Investing – Upcoming Features: Platforms

RBC Direct Investing played their cards close when it came to the upcoming innovations for 2015. Among the features that were mentioned were the Community feature which now boasts over 12,000 members. Interestingly, the recently released RBC Direct Investing newsletter also highlights the important role that the community platform will play in helping investors choose and monitor potential trading ideas. Another interesting hint from the year in review piece was that RBC Direct Investing will be testing out new features to their trading platforms.

Scotia iTrade – Upcoming Features: Performance Reporting

Scotia iTrade continues in its focus on portfolio measurement and analysis with the addition of a ‘performance reporting tool’. Also on their radar for 2015 will be enhancements to trading platforms.

TD Direct Investing – Upcoming Features: Performance Reporting

TD Direct Investing is looking to join in with other brokerages in augmenting their performance features. Specifically TD has indicated that realized gain/loss reporting is coming up in the early part of 2015.

Flurry of Deals

January kicked off with a number of promotions and deals being extended however as we venture forward it looks like some deals are making a comeback too. This past week Questrade re-launched two promotions: their ‘trade free for 3 months’ offer as well as the ‘100 free trades’. The timing of these offers coincide with RSP season and, when viewed as a group, the offers from Questrade now appeal to a wide range of minimum deposit sizes from $1,000 to $50,000.

Event Horizon

If you’re an investor in the mining and exploration sectors, you’re likely going to want to either attend or tune into the upcoming Vancouver Resource Investment Conference by Cambridge House International on January 19th & 20th. This is the 20th anniversary for the show and it comes at a time when junior mining and exploration stocks, many of which are typically the focus of the show, have suffered significant sell offs. As such, this should be an interesting event with a mix of celebration and optimism combined with the sobering reality of a sector that’s looking to navigate a very uncertain path ahead. There are many familiar names on the speakers list and a full floor of exhibitors. For more information, check out their website and the video they’ve prepared as the lead up to the event.

January 13: Scotia iTRADE – Best Practices In ETF Trading with Horizons ETFs (Online)

January 13: NBDB – Building Diversified Portfolios with ETFs – [Fr] (Montreal)

January 13: TD Direct Investing – Introduction to Investing in Options (Toronto)

January 13: NBDB – Portfolio management using momentum strategies – [Fr] (Online)

January 14: TD Direct Investing – Introduction to Investing in Options (St. John’s)

January 14: TD Direct Investing – Introduction to Investing in Options (Montreal)

January 14: Scotia iTRADE – Advanced Options Strategies with Montreal Exchange (Online)

January 14: TD Direct Investing – Introduction to Technical Analysis (White Rock)

January 15: NBDB – Introduction to technical analysis : Supports and resistances – [Fr] (Montreal)

January 15: TD Direct Investing – Income Investing Using ETFs (Toronto)

January 15: TD Direct Investing – Introduction to Technical Analysis (Ottawa)

From the Forums

To Bot or not to Bot

There’s been a lot of hype through 2014 regarding the presence of ‘robo-advisors’. In this post from RedFlagDeals.com’s investing thread, there’s an interesting perspective on whether or not robo-advisors are all they’re cracked up to be.

Tossing Around the Crystal Ball

It’s always great to see what the sentiment is going into a new year. In this post from the Financial Wisdom Forum, the forum participants provide their best guestimates for a contest on what 2015 will bring.

That’s a wrap to week two of 2015. Think warm thoughts – except if you happen to be in Vancouver, in which case you may want refrain from calling your friends elsewhere in Canada to tell them what the weather’s like. Have a great (and hopefully warm) weekend!

Posted on January 2, 2015 by user — Leave a comment

Discount Brokerage Weekly Roundup – January 2, 2015

Welcome to the first discount brokerage roundup of 2015. While many folks are still in holiday mode, online brokerages are busy getting into shape for the all-important first calendar quarter. The countdown that brokerages are looking at is the all-important RRSP contribution deadline (March 2 this year).

In this week’s roundup we take a look at the new deals & promotions being offered by Canadian brokerages, one brokerage’s bold move to challenge a highly competitive industry as well as insights about the retail investor from one brokerage’s trading stats. Of course, we cap off the roundup with a look at the upcoming education events and a quick tour of the forums.

In with the old

With the start of a new month it’s time to take a look at the deals and promotions being offered by Canada’s discount brokerages. It looks like the theme coming into 2015 was to ‘stay the course’ for many brokerage offers. Of the 8 offers set to expire at the end of December, 5 were extended. In total there are 14 open offers however January could hold a surprise or three. Of the three offers set to expire this month, two are from BMO InvestorLine and one from Scotia iTrade. It should be interesting to see what the bank-owned giants do going into one of their busiest seasons.

The only brokerage to kick off January with a new offer is Questrade. They’ve introduced yet another offer into their promotional mix with a commission-rebate offer for 25 trades that can be used throughout 2015. Click the following link for a full breakdown of all of January’s discount brokerage deals.

Questrade stepping into the ETF game

In another interesting move by Questrade into the wealth management space, Questrade recently filed a preliminary prospectus for the launch of up to 6 new ETFs. According to the prospectus, the funds are based on several US based indices and hedged to Canadian dollars. Here is a list of the proposed funds and symbols (on the TSX):

Questrade Russell US Midcap Growth Index ETF Hedged to CAD (“QMG”)
Questrade Russell US Midcap Value Index ETF Hedged to CAD (“QMV”)
Questrade Russell 1000 Equal Weight US Technology Index ETF Hedged to CAD (“QRT”)
Questrade Russell 1000 Equal Weight US Industrials Index ETF Hedged to CAD (“QRI”)
Questrade Russell 1000 Equal Weight US Health Care Index ETF Hedged to CAD (“QRH”)
Questrade Russell 1000 Equal Weight US Consumer Discretionary Index ETF Hedged to CAD (“QRD”)

The recent formal launch of PortfolioIQ and Questrade’s move into the wealth management space, it appears that Questrade is diversifying away from being an exclusive discount brokerage and emulating the model seen in the US (such as with Schwab and Ameritrade) where there has been a successful push into wealth management. Bank-owned discount brokerages that also have ETFs attached to the wealth management arms (such as BMO) will most certainly take notice of this move.

Questrade’s diversification away from being strictly a discount brokerage has pitted them against a number of big players in the wealth management space, and this latest maneuver will definitely force them to compete in yet another exceptionally competitive space.

Interactive Brokers trading metrics

A quick peek into the trading metrics for Interactive Brokers’ December figures shows that they’re continuing to grow their customer base. New accounts are up 1% month over month but impressively 17% year over year, with the number of accounts standing at 281,000. Interestingly, December was the weakest month out of the year for net new accounts. Trading activity in December was strong with 590,000 Daily Average Revenue Trades (DARTs), the second most active month after October in 2014.

For Canadian brokerages, an interesting data point that the Interactive Brokers shows is that retail interest in the markets continues to be strong (at least in the US). Also, Interactive Brokers is clearly a strong competitor for the highly prized active trader segment. It may have something to do with the fact that the average commission per equity trade was a mere $2.58 with an average order size of 1,968 shares.

Event Horizon

Investor education events are ramping up again. Here is a list of the events coming up in the next week:

January 6 – Scotia iTRADE – Getting Started With Technical Analysis with Pro Market Advisors (online)

January 7 – TD Direct Investing – Understanding Margin & Short Selling (Regina)

January 7 – Scotia iTRADE – Smart Beta ETFs with First Asset Management (online)

January 9 – Scotia iTRADE – Bond Basics with Scotia McLeod (online)

From the Forums

Registering a Vote

As the RRSP contribution deadline will become the focus over the next few weeks, the move by Interactive Brokers to offer Canadian registered accounts is likely to become increasingly discussed. The following post from Canadian Money Forum sums up the sentiment nicely.

Flipping the Switch

Another consideration going into the RRSP season is which brokerage to consider. This post from RedFlagDeals offers a great perspective on some of the merits of brokerages currently on the minds of DIY investors.

That’s a wrap for this week’s roundup. Have a great weekend trying to stay dry or out of the snow/ice or whatever Mother Nature is throwing our way. In the meantime, here’s to a profitable New Year ahead!

Posted on January 1, 2015January 30, 2021 by user — 1 Comment

Discount Brokerage Deals and Promotions – January 2015

*Updated Jan 26/15* Welcome to 2015! For many, the start of a new year is the time to mark a new beginning. For Canada’s online brokerages, however, the theme coming into January isn’t so much about being new as it is about being present.

While many of the deals and promotions listed in December were poised to expire at the end of the month, it appears that they would ‘expire another day’. Curiously, of the 5 6 offers that were extended out into 2015 only the offer from Scotia iTrade (their 100 free trade offer) had its expiry date bumped to January 9^th. Whether this is a clue to something possibly coming soon or simply a strange mini-extension, the good news is that it won’t be too long till we find out.

At the outset of January there is one new offer added into the mix, once again from Questrade. Their newest offer (see below for more details) is a commission-free trading offer aimed at clients with deposits of $25,000 or more. Another offer that landed mid-December that warrants mentioning is National Bank Direct Brokerage’s sizeable cash back offer – interestingly aimed at depositors with at least $20,000. Interestingly, brokerages competing for deposits of $20,000 to $25,000 include CIBC Investor’s Edge, NBDB and, now, Questrade.

As the holidays and vacations wear off, and the ramp up to RRSP season begins, we anticipate seeing some major activity from the various discount brokerages. Be sure to check back again throughout January as we monitor the developments with various deals and promotions.

*Update: BMO InvestorLine has extended their tablet app free-trade offer deadline to February 26th. Their ‘smile’ promotion is still scheduled to expire January 18th.

Expired Deals

At the time of writing, there are four offers that officially expired going into January:

RBC Direct Investing’s 20 commission-free trade offer
Questrade’s 30 free trade offer
Questrade’s $250/$100 cash back offer
Scotia iTrade’s $500 cash back (or 500 free trade) offer
*Update Jan 22/15* BMO InvestorLine’s “Smile Promotion” $250 cash back offer

Extended Deals

Rather than let them slip into history, Canadian discount brokerages sought to extend the shelf life of several big offers, some well into 2015 and others just over a week. Here’s the list of extended offers:

Scotia iTrade’s refer-a-friend offer extended to March 15^th
BMO InvestorLine youth offer extended to March 31^st
*Update Jan 5/15* BMO InvestorLine tablet app offer extended to February 26th
Questrade $50 prepaid Visa offer extended to February 27^th
Scotia iTrade 100 free trade offer extended to January 9^th
Desjardins Online Brokerage (Disnat) $300 commission credit offer extended to March 31^st

New Deals

The only new promotion for January by a Canadian discount brokerage was one launched by Questrade. Specifically their “new year’s” offer enables qualified clients to have 25 commission-free trades which are eligible for use throughout the year. Unlike many commission-free trade offers which have a shelf life of anywhere between 30 and 90 days, this offer is unique given how long clients have to use the commission-free trades (the deadline to use the free trades is December 31^st 2015). While the number of trades is not necessarily as high as other offerings, the length of time to use the trades stands out. The caveat, however, is that there is a minimum deposit of at least $25,000 required to qualify. See the table below for additional details.

*Update Jan 11/15* Questrade has just added two additional offers (see below). For one of their offers, they are bringing back the unlimited commission-free trade promotions which last from one to three months depending on the deposit made. The other offer (the “Multi Leg” promotion) enables qualified clients to trade up to 100 trades commission-free.

*Update Jan 12/15*

Questrade has resurrected their iPad Mini offer in time for RSP season. For a deposit of $100,000 or more, individuals can be eligible to receive an iPad Mini 2 (16GB, wi-fi only). In order to receive the iPad Mini, individuals have to fund their account and make at least one commission-generating trade. For more information see the table below.
Scotia iTrade has launched a massive offer on the heels of their previous deal expiry. Scotia iTrade is now offering a modified cash back or commission-credit promotion for deposits from $15,000 to $1,000,000 – yes that’s not a typo. Scotia iTrade is now the only brokerage to scale up the promotional offers beyond the $250,000 ceiling of other brokerages and with this latest promotion they’ve topped their previous offer (500 trades for $500,000). The current offer actually goes beyond just commission rebates or cash back, there is also a 90 day free use of their platform (FlightDesk) and a free 2 day educational seminar with their education partner Larry Berman. The list of terms and conditions for this offer is quite extensive so be sure to read it fully if you’re considering the deal. Some particulars to pay attention to are the rebate period for commission credits (180 days) and minimum balance requirements.
RBC Direct Investing has also stepped into the deal arena with a commission-rebate offer. The promotion enables qualified applicants to receive 20 commission-free (commission fees will be rebated) trades that are good for use for up to one year. One of the highlights of this offer is that no minimum deposit is required in order to qualify. See table below for further details.

*Update Jan 16/15*

Qtrade has launched a new RRSP-themed contest. Individuals opening (and funding) or contributing to an RSP account with at least $2,000 by March 2nd, 2015 could be eligible to win a $500 contribution to their account each month for a year. Given that this is a contest, it is not listed in the table below however for full details, click the terms and conditions link here. One thing to consider of course is the eligible contribution room within your RRSP to receive the extra top up.
Questrade has launched yet another offer, making them the brokerage offering the most promotions this month. Their latest DIY investing offering is a tiered offer unlimited commission-free trading depending on the amount deposited. For deposits of $50,000 or more, Questrade is offering up to three months of commission-free trading; for $25,000 – $49,999 Questrade is offering two months of commission-free trading and for $1,000, individuals can be eligible for one month of commission-free trading. See the table below for more details.
Virtual Brokers has stepped back into the deals & promotions space by offering an RRSP-themed offer. Individuals who deposit at least $5,000 in new equity can qualify to receive 50 commission-free equity trades. For deposits of $10,000 in new equity, Virtual Brokers is offering 100 commission-free equity trades. This is one of the most competitive commission-free offers for the deposit levels. See the table below for more details.

*Update Jan 22/15*

BMO InvestorLine has replaced their $250 cash back offer (the Smile Promotion) with a new RSP-focused promotion with a higher cash back component. Like the promotion it is replacing, the latest offer from BMO InvestorLine (live as of Jan 19/15) requires a deposit of at least $100,000 to qualify. Individuals who qualify for this promotion can receive $300 cash back. See the table below for additional details and deadlines.
HSBC InvestDirect is now also offering up its own RSP season themed offer. In their case, the deal appears to have gone line early in January but has only recently made it onto their website. The offer states that eligible clients can receive up to 50 commission-free equity trades which are good for up to 88 calendar days. It is noteworthy that the commission-free trades apply to equity/ETF trades and not to options or fixed-income trades. Also, according to the terms and conditions there is no minimum deposit required nor is there a stated promo code. See table below for more details.

*Update Jan 26/15*

One of Canada’s largest online brokerages, TD Direct Investing, has now also jumped into the deals pool this month. Their latest commission-rebate offer features trading commission rebates on three tiers of deposits. For deposits of between $25,000 – $49,999 eligible accounts receive up to 50 commission-free trades; for deposits of $50,000 – $99,999, eligible accounts can receive up to 100 commission-free trades and for deposits of $100,000 or more, up to 200 trades may be rebated. This offer applies to equity and options trades. See table below for additional information.

Discount Brokerage Deals

Company	Brief Description	Minimum Deposit Amount	Commission/Cash Offer/Promotion Type	Time Limit to Use Commission/Cash Offer	Details Link	Deadline
	A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform.	n/a	Discounted Commission Rates	none	For more details click here	none
	Open a new account with HSBC InvestDirect and you could be eligible to receive up to 50 commission-free equity/ETF trades for 88 calendar days. Be sure to read the terms and conditions for full details.	n/a	50 commission-free trades	88 days (payout for rebate is within 90 days of end of free trade period)	HSBC InvestDirect 2015 Winter Offer	March 2, 2015
	For individuals between 18 and 35 who open a new qualifying account with BMO Investorline, they may be eligible to receive 35 commission-free trades, an eBook on investing and potentially waived account minimum fees. Use promo code “New” when signing up. Be sure to read the terms and conditions for more details on the offer.	n/a	35 commission-free trades	90 days	Youth Promotion	March 31, 2015
	Open a new qualifying account with RBC Direct Investing and you may be eligible to receive up to 20 commission-free trades. A promotion code is required for this offer; click on the the link for the promotional page to generate a code. Be sure to read the terms and conditions for full details on this offer.	n/a	20 commission-free trades	1 year	Terms & Conditions & RBC Direct Investing Trade Free for 1 Year Promotion Page	March 2, 2015
	Download the BMO InvestorLine iPad app and you could qualify for up to 5 commission-free trades. This offer is open to new and existing clients and can be combined with other offers. Clients must have a qualifying account in order to be eligible. Read full terms and conditions for details.	n/a	5 commission-free trades ($50 max value)	30 days	Tablet Trades Promotion	February 26, 2015
	Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc	$1,000	$50 commission credit	none	none	none
	Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account.	$1,000	$50 commission credit (friend) $100 commission credit (referrer bonus)	60 days	Refer a friend	none
	Open and fund a qualifying account (TFSA, Cash/Margin or RRSP) at Questrade with at least A) $1,000 or B) $10,000 and you may be eligible to receive A) 10 or B) 100 commission-free trades. Use promo code 100FREEML15W when registering. Be sure to read the terms and conditions for this offer.	A) $1,000 B) $10,000	A) 10 commission-free trades B) 100 commission-free trades	60 days	Multi-leg Offer	February 27, 2015
	Open a new TFSA, margin or registered account with Questrade and deposit at least A) $1,000 B) $25,000 or C) $50,000 to receive either A) 30 days B) 60 days or C) 90 days of unlimited commission-free stock & options trades. Use promo code UNLIMITEDW15 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) 30 days B) 60 days C) 90 days	Questrade Unlimited Trading Offer	March 2, 2015
	Open a new TFSA, margin or registered account with Questrade and deposit at least A) $1,000 B) $25,000 or C) $50,000 to receive either A) 30 days B) 60 days or C) 90 days of unlimited commission-free stock & options trades. Use promo code UNLIMITEDRSP 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) 30 days B) 60 days C) 90 days	Questrade RRSP Promotion	March 2, 2015
	Open a new account (TFSA, Margin, RRSP or FX/CFD) and place at least one trade within 60 days of opening and you may be eligible to receive a $50 prepaid Visa card from Questrade. Use promo code VISA50. Be sure to read terms and conditions for full details on this offer	$5,000	$50 Visa gift card	Cards will be mailed within 40 business days of reaching account funding requirement.	$50 Prepaid Visa Card Offer	February 27, 2015
	Open and fund a new account with at least A) $5,000 or B)$10,000 in net new equity and you may be eligible to receive A) 50 or B) 100 commission-free trades. Use promo code “RRSP15” when signing up for an account to qualify. Be sure to read the terms and conditions of the offer for full details.	A)$5,000 – $9,999 B)$10,000+	A) 50 commission-free trades B) 100 commission-free trades (max commission per trade $6.49)	Trades must be used by September 30, 2015 (commissions to be rebated by October 2015)	RRSP Free Trade Promotion	February 27, 2015
	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 15, 2015
	Open and fund a new Scotia iTRADE account with at least A) $15,000 – $49,999, B)$50,000 – $99,999, C)$100,000 – $249,000, D) $250,000 – $499,999, E) $500,000 – $999,999, or F) $1,000,000+ and you may be eligible to receive a corresponding cash-back or commission rebate. For commission-free trades use code: WTT15 or for cash rebates use code: DL5RP. Be sure to read the terms and conditions carefully for rebate and cash back eligibility. This offer also includes a free ‘swing trading’ course with Larry Berman and 90 days free of FlightDesk.	A)$15,000 – $49,999 B)$50,000 – $99,999 C)$100,000 – $249,000 D)$250,000 – $499,999 E)$500,000 – $999,999 F)$1,000,000+	A) 50 commission-free trades OR $50 cash B) 100 commission-free trades OR $100 cash C) 250 commission-free trades OR $250 D) 350 commission-free trades OR $350 E) 500 commission-free trades OR $500 F) 1000 commission-free trades OR $1000	180 days for commission-free trades Cash back to be deposited by November 30, 2015.	1000 Free Trade Offer	March 31, 2015
	Open a new account with Scotia iTrade with either A) $15,000 – $99,999 B) $100,000 – $499,999 or C) $500,000+ and you may be eligible to receive either A)100 free trades or $50 cash B)250 free trades or $250 or C)500 free trades or $500 cash. Accounts must be opened prior to December 31st, 2014. New clients use code: FATD14E for free trades and code: MONF14 for cash back. Existing clients must call client service (1-888-769-3723) to qualify. Be sure to read terms and conditions regarding minimum balance requirements and other details.	A)$15,000 – $99,999 B)$100,000 – $499,999 C)$500,000+	A) 100 commission-free trades or $50 cash B) 250 commission-free trades or $250 cash C) 500 commission-free trades or $500 cash	For commission-free trades: 180 day limit For cash back: payout occurs by August 31, 2015	Cash back + Free trade offer	December 31, 2014
	Open a new account and fund it with at least (A) $20,000 or (B)$100,000 and NBDB may provide up to (A) $500 or (B) $1,000 in commission rebates for qualifying accounts. Use promo code “CashBack2015” when signing up. Be sure to read the terms and conditions for eligibility and refund dates.	A)$20,000 – $99,999 B)$100,000+	A)$500 commission rebate B)$1,000 commission rebate	90 days (rebate of commissions depends on sign up date and is outlined on terms/conditions)	Cash Back Offer	March 31, 2015
	Open a new account with TD Direct Investing with at least A) $25,000 B) $50,000 or C) $100,000 and you may be eligible to receive rebates on up to A) 50 B) 100 or C) 200 equity and/or options trades. Be sure to read full terms and conditions	A) $25,000 – $49,999 B) $50,000 – $99,999 C) $100,000+	A) 50 commission-free trades B) 100 commission-free trades C) 200 commission-free trades	60 days (commission rebates to be issued on Aug. 15/2015)	TD Direct Investing Free Trade Promotion	March 27, 2015
	Open a new account or fund an existing account at CIBC Investor’s Edge with at least A)$25,000-$49,999 B)$50,000 – $99,999 or C)$100,000+ and you may be eligible to receive A)$100 cash back and 25 free trades; B)$200 cash back and 50 trades or C)$300 cash back and 100 free trades. Be sure to read the terms and conditions for full details on this offer.	A) $25,000 – $49,999 B) $50,000 – $99,999 C) $100,00+	A) $100 cash back + 25 commission-free trades B) $200 cash back + 50 commission-free trades C) $300 cash back + 100 commission-free trades	Cash back payout occurs within 30 days of account funding; Time limit to use commission free trades is 60 days	Investors Edge Cash Back and Free Equity Trades Offer	February 28, 2015
	Open a new account (TFSA, Margin, RRSP) with at least $25,000 and you may be eligible to receive 25 trades commission free. Use promo code TRADEFREE2015 when signing up to qualify. Be sure to read the terms and conditions for details on this offer.	$25,000	25 commission-free trades (commissions rebated within 10 days of trade)	Trades may be used up until December 31st 2015.	Trade Free For a Year Offer	January 30, 2015
	Disnat is offering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info.	$50,000	$300 commission credit	6 months	Disnat $300 Commission Credit Promo	March 31, 2015
	If you refer a new client to BMO InvestorLine and they open an account with a)$50,000 – $249,999 or b)$250,000+ the referrer and the referee will both receive cash. The new account must be opened with the referral code specific to the referrer.	A) $50,000 – $249,000 B) $250,000+	A) You(referrer): $200; Your Friend(referee): $50 B) You(referrer): $300; Your Friend: $100	Payout occurs after 60 days (subject to conditions).	Contact InvestorLine for full terms and conditions.	October 30, 2015
	Open and fund a new qualifying account at BMO InvestorLine with at least $100,000 in net new assets and you may be eligible to receive $300 cash back. Use the promo code RSP2015 when signing up for the account. Be sure to read full terms and conditions for eligibility and further details.	$100,000	$300 cash back	Payout occurs after 6 months	RSP 2015 Promotion	March 31, 2015
	Open a new TFSA, margin or registered account with Questrade and deposit at least $100,000 to be eligible to receive an iPad mini. Use promo code IPADMINI15Q2 when signing up. Read the terms and conditions for more information about eligibility.	$100,000	iPad Mini 2 (16gb wi-fi only) [retail value ~$370 including taxes]	iPad Mini will be sent within 60 days of account being funded and 1 commission-generating trade being placed.	iPad Mini Offer	March 13, 2015
Expired Offers: The following offers have expired this month and are shown for reference only.	#colspan#	#colspan#	#colspan#	#colspan#	#colspan#	#colspan#
	Open and fund a new Scotia iTRADE account with at least $15,000 before December 31, 2014 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code HUN-SP. See details link for further terms and conditions.	$15,000	100 commission-free trades ($999 value @ $9.99 commission rate)	60 days	Scotia iTrade 100 free trades + FlightDesk	January 9, 2015 Expired
	Open and fund a new qualifying account at BMO InvestorLine with at least $100,000 in net new assets and you may be eligible to receive $250 cash back and a rebate of commissions on up to 25 trades made within 50 days of opening the account. Use the promo code SMILE when signing up for the account. Be sure to read full terms and conditions for eligibility and further details.	$100,000	$250 cash back + 50 commission-free trades (rebated)	50 days (payout for cash back and commission rebate occurs after 6 months)	Smile Promotion	January 18, 2015 Expired

Transfer Fee Deals

Brief Description	Maximum Transfer Fee Coverage Amount	Minimum Deposit Amount for Transfer Fee Eligibility	Details Link	Deadline
Transfer $15,000 or more to Scotia iTrade from another Canadian brokerage, and iTrade may pay up to $150 in transfer fees.	$150	$15,000	1000 Free Trade Offer	March 31, 2015
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
Qtrade Investor will reimburse your transfer fee up to $150 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.	$150	$25,000	Transfer Fee Promo	none
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150.	$150	$25,000	Transfer Fee Promo	none
Transfer $25,000 or more in equity to Virtual Brokers and they’ll cover the transfer-out fees up to $150.	$150	$25,000	Transfer Fee Rebate Terms & Conditions	March 31, 2015
Transfer $25,000 or more into a new TD Direct Investing account and they will cover up to $150 of transfer fees.	$150	$25,000	TD Direct Investing Free Trade Promotion	March 27, 2015
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
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, 2015

Posted on December 26, 2014 by user — Leave a comment

Discount Brokerage Weekly Roundup – December 26, 2014

It’s hard to believe but another year is almost in the books. Going into the end of the year, things typically quiet down across the markets and amongst the online brokerages this past week was equally quiet. Of course, that didn’t stop major US indices from continuing to push new highs and breaking records yet again.

Going into the end of a year, it is also a natural point to look back and reflect on the events, big and small, that helped shape 2014 for DIY investors as well as look ahead to 2015 to see what Canadian online brokerages may get up to.

In this last roundup of 2014, we’ll keep it short and sweet. We’ll take a look at another brokerage that participated in our executive video series, highlight another brokerage commercial making the rounds on US airwaves and take a quick victory lap with the biggest discount brokerage story of 2014.

Interview with Desjardins Online Brokerage

The second episode of our executive video series was launched just ahead of the Christmas holiday this year. In this episode, we spoke to Laurent Blanchard the Vice President and General Manager of Desjardins Online Brokerage. The conversation was yet another example of the interesting individuals at the helm of Canada’s online brokerages. It was definitely fascinating to learn not only about the personalities behind the company however there’s also an exclusive sneak peek at what Desjardins Online Brokerage has planned for 2015. Check out the video on their profile page here.

Commercial Viability

Given the competitive landscape for online brokerages, advertising is almost a given. For DIY investors, going into 2015 means preparing from an onslaught of advertisements across all the screens we use. Throughout 2014 we’ve highlighted a number of commercials that we’ve spotted being broadcast by various brokerages and as we head into the end of 2014, here’s one from Interactive Brokers that caught our attention. While aimed at US audiences, the point of the commercial definitely positions Interactive Brokers as an attractive consideration based on their pricing – a story that has dominated the landscape here in Canada for 2014. It will be interesting to see how Canadian brokerages step up to handle the pricing message as this is going to continue to be highly volatile issue (we think) even in 2015.

Headline Number

If there is one story that stood out in 2014, it was certainly the drop in standard commission pricing.

When we first reported the story in January that RBC Direct Investing had lowered their commission prices, it was clear that they had done something game-changing. Based on their size in the marketplace and their popularity as a provider, it was a move that would force the response of almost every other bank-owned brokerage as well as independent online brokerages to step up.

In the weeks that followed, major bank-owned brokerages such as TD Direct Investing and BMO InvestorLine also lowered prices with other brokerages eventually joining in. It would take until October for the next major price drop to take place, but in a bold maneuver, we broke the news that CIBC Investor’s Edge was going to lower their standard commission pricing to $6.95.

Aside from being a major win for DIY investors, the lowering of standard commission prices showed just how important pricing is to the online brokerage world.

The speed and magnitude of the shift in pricing has demonstrated that when something matters to providers, they move quickly on it regardless of their size. Whether a firm matches or betters CIBC’s offer will be interesting to watch for given the apprehension felt by brokerages at having to come down to the sub-$10 level. Looking to the US, where there is now zero-commission trading (thanks to a startup firm Robinhood), as well as to the deep discount providers here in Canada such as Questrade and Virtual Brokers, however, there is still room for commission pricing to fall.

Once the domino of pricing fell, a chain of events had also been set in motion that would widen the scope of the efforts of discount brokerages to win the attention and loyalty of DIY investors.

On the heels of the announcement from RBC Direct Investing in January, we stated that not only would other brokerages follow, but that there would also be a shift by online brokerages to “demonstrate the value of their customer service, new features or trading platforms.”

Indeed, over the course of the year, after the wave of price drops came the announcement for new services (such as USD registered accounts from NBDB and TD Direct Investing, ), a long (and growing) list of new features (such as bracket order types) and even new trading platforms (e.g. BMO InvestorLine’s active trader platform).

To cap off the year, we assembled a collection of perspectives from 9 Canadian online brokerages that also provided a fascinating look back at 2014 through the eyes of the brokerages themselves. In case you missed the snapshot series we put together on our Twitter feed, here are the top 5 themes we spotted from that series.

A year of milestones

In addition to the online brokerages, 2014 was also a great year for SparxTrading.com. A couple of really special milestones that we achieved this year were the release of our revised brokerage profile pages, the beta launch of our online community, the roll out of our executive video series and our year in review compilation from 9 of Canada’s online brokerages.

We’re definitely excited about 2015 as we’ve got a number of great features planned and are looking forward to staying on top (and helping to make sense of) what Canada’s discount brokerages do next.

On behalf of the SparxTrading.com crew, have a fantastic (and safe!) New Year!

Posted on December 19, 2014 by user — Leave a comment

Discount Brokerage Weekly Roundup – December 19, 2014

*Edited Dec. 22/14* It looks like December isn’t going to go quietly. With huge volatility coming into the markets, traders are certainly cheering. Canada’s discount brokerages are also not wont to stand still going into the year end. Whether they’re gearing up for a busy 2015 or pushing hard into the finish line of 2014, this is definitely a year for the record books all around.

In this week’s roundup, we take a look at a major compilation of Canadian online brokerage’s perspectives on the year that was and the year upcoming. Following that we take a look at one online brokerage that had a change at the top, a brokerage that decided to launch an early Christmas gift to potential clients, some news from a technical analysis provider and round out with some festive forum banter.

Online brokerage year in review & preview

2014 has been a wild ride for DIY investors. It started with a boom and is ending with a bang.

This past week we released our exclusive compilation of perspectives from 9 Canadian online brokerages. Here is the list of discount brokerages that participated (the links go to their particular submission):

Regardless of their size or focus, when compared alongside one another, there was a wealth of information about the year that has just passed.

Without question, commission price lowering was one topic that stood out almost across the board. As each discount brokerage showed, however, price wasn’t the only place they sought to evolve. New features, order types, services, platforms, investor education offerings and service experiences were among the other areas that brokerages were all actively working to improve in.

Something that was really special about this compilation was what certain brokerages were able to share about what’s coming around the corner for 2015.

For example, in our recent interview with Nancy Paquet, President of National Bank Direct Brokerage, she shared with us the focus that NBDB will be placing on investor education – however they’re not alone. In addition to NBDB, brokerages such as Desjardins Online Brokerage, Scotia iTRADE and TD Direct Investing are all highly active in terms of providing investor education and plan to be even more so in 2015.

What was interesting to learn from the year in review compilation was that Credential Direct may be looking to augment its educational resources as well as the news that Jitneytrade has been partnering with educational providers. Even for several brokerages that didn’t participate in the year-end review, we’ve learned that investor education is going to be a priority in 2015.

As a lead into the holiday season this year, we thought it would be great to offer up the top 5 themes we saw emerge from the year end compilation. With so much information provided by the brokerages, we’ve put together a fun way to learn about what the brokerages had to say. Here’s a teaser from day one of the top 5 countdown. We’ll be releasing one a day over the next 5 days exclusively on our twitter feed.

Qtrade announces leadership changes

This past Wednesday, Vancouver based online brokerage Qtrade Financial announced that CEO Scott Gibner and President and COO Joe Perrin will leave the organization as of January 16, 2015.

Bill Packham, who is the Co-Chair of the Qtrade Board of Directors, will take over as interim CEO, as the firm seeks to make a permanent appointment.

The announcement comes just weeks after Qtrade earned top billing in the annual Globe and Mail Online Broker Rankings. In a statement, Qtrade’s Board Co-Chair and Director, John Sibley, thanked Gibner and Perrin for their “vision, inspiration and dedication to Qtrade.”

Packham brings along several years of executive experience having served as the Co-Chair of Qtrade’s Board of Directors since the completion of the arrangement transaction between Qtrade and Desjardins Group in April 2013. He is also Executive Managing Director, Wealth Management and Life and Health Insurance with the Desjardins Group.

National Bank Direct Brokerage launches new deal

December continues to be a big month for news. In the deals & promotions department, National Bank Direct Brokerage boldly launched a rather sizeable commission-rebate offer going into the holiday season – perhaps as an early Christmas gift to potential new clients. The offer provides up to $500 in commission fee rebates for deposits of $20,000 or more and rebates of up to $1,000 for deposits of $100,000 or more. Click here to read more about this promotion.

A technical win for Recognia

The maker of the most popular technical analysis platforms among Canadian brokerages, Recognia, was acquired this week by Paris-based investment research firm Trading Central. Headquartered in Ottawa, Recognia actually services over 45 brokerages in 12 countries with their various software platforms. Most DIY investors would recognize Recognia’s flagship ‘Technical Insight’ tool as part of the suite of research/tools for technical analysis provided by their online broker.

Event Horizon

Things have quieted down significantly on the events front going into the Christmas holidays. Here is the lone event featured for next week:

Dec. 23 (Tues) Scotia iTRADE – ETFs 101 with Horizons ETFs (Online)

From the Forums

Chatter on Interactive Brokers

Last week we wrote about Interactive Brokers starting to offer registered accounts. Slowly news has filtered through to Canadian investor forums so we thought we’d provide a couple of threads that discuss Interactive Brokers’ latest move:

Interactive Brokers now offering RRSP/TFSA Accounts – Canadian Money Forum
Hold your RRSP at Interactive Brokers! – Financial Wisdom Forum

Battle of the Banks

In this post from the reddit Personal Finance Canada thread, one user is considering going with CIBC Investor’s Edge, TD Direct Investing or RBC Direct Investing. Find out what redditors (who normally champion the smaller brokerages) had to say about dealing with the bigger bank-owned brokerages.

That’s a wrap for this week’s roundup. We’re right around the corner from Christmas so hopefully everyone makes it onto the nice list this year – although for the not so nice, getting some coal may not be the worst thing at this point. On another note – it’s also a milestone week for the ending of a great show – the Colbert report. In case you missed it, here is a much bigger and more awesome send off than anyone on TV could really pull together.

Happy Holidays and Season’s greetings to all from the crew at SparxTrading.com. We’ll see you again (soon)!

Editor’s Note: The list of participating brokerages in the year in review has been updated to include a submission from CIBC Investor’s Edge which was received after the original publication date.

Posted on December 17, 2014 by user — 2 Comments

Exclusive: A Year in Review and Look Ahead from Canada’s Online Brokerages

*Edited Dec. 22/14* What an exciting year to be a DIY investor. As an active observer and commentator on the landscape of Canada’s online brokerages, we’ve seen some dramatic changes this past year. Whether it was reduction in commission pricing, changes in account types or enhancements to platforms, user experience or investor education, 2014 presented no shortage of exciting developments.

With so many online brokerages, DIY investors now enjoy more choice in terms of who they want to end up doing business with and how they want to trade online. The flip side to the benefit of having so much choice, however, is actually keeping up with all of the innovation that’s taking place amongst online brokerages. Every time a new feature, like a platform or a new order type, comes out, there is a lot of information that goes with it.

In their own words

So, in keeping with our continued efforts to track and structure the information coming from Canadian online brokerages, we thought it would be great if we gave Canada’s online brokerages the opportunity to give investors their own take on 2014 and also to provide everyone with a preview of where 2015 is heading.

We reached out to all the brokerages and were more than pleased with the response we received to participate. Our request was simple. We asked that brokerages provide SparxTrading.com readers with a recap of 2014, perhaps with milestones or achievements as well as to provide some direction as to what’s around the corner for next year.

What follows is a really interesting (in our opinion) compilation of voices of 8 9 of Canada’s most influential and visible online brokerages – from bank-owned online brokerages to independent brokerages. It is clear from reading these submissions that 2014 was a busy year everywhere. Nobody was standing still. Even more interesting, however, are the hints and previews online brokerages have shared for 2015.

Table 1: Canadian Online Brokerages Participating in the Year in Review	#colspan#	#colspan#
Click on a logo to read the review of that particular brokerage.	#colspan#	#colspan#

Getting up to speed

Heading into RRSP deadline season and the first half of 2015, we know that there will be many individuals who are either considering online investing or who are already with a provider and would just like to better understand the landscape of choices that are out there.

This compilation is a great starting point to learn more about each of the providers listed. They are certainly a diverse group of providers which is reflected in the different ways in which each has written their submission. In our opinion, this diversity will become one of the biggest themes for 2015.

With standard commission pricing having dropped significantly across several brokerages, the focal point will turn to standing out. Our view on this is that ‘standing out’ will be achieved by being ‘outstanding’. That means improved service, pricing (yes, we still think there’s room to go lower for some), features and user experience.

We believe that in 2015, Canada’s online brokerages will work even harder to differentiate themselves from one another. And, as was the case in 2014, we are looking forward to tracking these developments and helping our readers make sense of them all as they unfold.

Click the logos above or the page numbers below to read this year’s submissions.

Editor’s Note: We received a submission from CIBC Investor’s Edge after our original publication date and so we have included their submission as part of this series. For functionality purposes, however, we have placed their submission at the end of the series rather than in alphabetical sequence.

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Posted on December 12, 2014 by user — Leave a comment

Discount Brokerage Weekly Roundup – December 12, 2014

If you thought the past week in the markets was big, wait until you hear about what happened with online brokerages. Yes, news of oil prices dropping and markets with them dominated the headlines. Against that backdrop, however, there was a lot of great news for DIY investors on both sides of the border.

In this week’s roundup, we take a look at an exciting new content feature we released on SparxTrading.com followed by a huge announcement from one of Canada’s most popular online brokerages with active traders. Next we’ll take a look at the dawn of a new commission-free trading era in the US, cruise through the upcoming investor education events and finally end off with tour of the investor forums.

Sparx Launches the first interview of our Executive Video Series

This past week, SparxTrading launched the first installment of the Executive Video Series in which we sat down with the President of National Bank Direct Brokerage, Nancy Paquet.

By all accounts we were thrilled to be able to have a fascinating interview with a fascinating individual. We had a great time working with the National Bank Direct Brokerage team in putting this together and we’re pleased to be able to share this exclusively on SparxTrading.com.

Here’s some context behind why we sought to put this series together.

One of the first reasons involves communicating important context about Canadian online brokerages. With the drastic reduction of standard commission pricing in 2014, we believe attention will shift towards figuring out what makes particular brokerages ‘special’. For consumers (i.e. DIY investors) we think that will mean doing more research and trying to figure out if a particular discount brokerage is a ‘good fit’.

Our Executive Video Series is meant to capture a candid conversation with a senior decision maker at the brokerage in which we ask them to provide information about what they’ve worked on, where they’re headed and what sets them apart. In addition, as the interview with Paquet shows, we also have the chance to learn about how the firm is run from the person responsible for running it.

For our visitors and viewers, we think this approach offers a unique insight into the online brokerage world and provides them with context directly from the source. For brokerages, there’s also the chance to articulate what makes them unique to an audience interested in finding that out.

Check out the interview on the NBDB profile page here.

Interactive Brokers Canada to Offer Registered Accounts

Yes, that’s correct. Interactive Brokers Canada quietly rolled out one of the most sought after features this past week by offering RRSP and TFSA accounts, and in doing so, tipped the discount brokerage landscape on its side once again this year.

The move to provide registered accounts in Canada was widely speculated about ever since Interactive Brokers officially formed a separate Canadian entity (Interactive Brokers Canada). For self-directed investors, however, this is a huge development as the cost structure and trading platform associated with Interactive Brokers can now be used for trading inside of an RRSP or TFSA.

Before the party gets started too fast, there are some important limitations on the registered accounts.

For starters, both of these account types will only be offered in Canadian dollars. Second, there are limits to the RRSP account that are a bit different than at other institutions. For example, at Interactive Brokers Canada, there is no support for Home Buyers Plan withdrawals, Lifelong Learning Plan withdrawals or investments in a home mortgage. Third, RRSP accounts will be subject to a quarterly maintenance fee of $12.50 which is prorated from the time the account opens (e.g. if the account is opened halfway through the quarter the fee is $6.25 for the quarter in which the account was opened and $12.50 per quarter thereafter).

Full details are available on their information page here.

We will most certainly be tracking this development as it becomes more widely known. Once there is greater awareness that Interactive Brokers now offers registered accounts, however, other brokerages are going to be scrambling to compete on a whole new field.

Investors Sher-Wood Like to Trade for Free

This past week, investors in the US took another step into the surreal new world of ‘no commission’ trading when discount brokerage Robinhood launched their mobile trading app.

Even though Robinhood offering up commission-free trading is not a new story, the ramp up of their roll-out means that the nightmare scenario for other online brokerages in the US is slowly coming true. Not only is a firm offering up zero commission trading, they are doing it on mobile and they have struck a chord amongst the highly prized ‘millenial’ segment. Whether or not Robinhood can do so sustainably also seems to be less of a concern as they have some famous (as well as deep pocketed) financial backers.

For Canadian investors, the lesson is that there is still substantial room for commission prices to fall. In addition to pricing, however, there is an attention to user experience (especially on mobile) that is relevant.

Before banks and brokerages obliterate commissions (if they ever do), they will most likely start to overhaul and improve their website usability across more ‘modern’ devices like smartphones and tablets (which a handful already have started to do).

The paradox, of course, is that innovation in financial services means that small providers might have an edge with new technology but they are not as experienced in providing great (or passable) service at scale.

For DIY investors, this means while the bells and whistles may be cool, when things don’t quite work as they should, or when you need something extra or have a special request, the service element may not be able to keep up. For Robinhood, and 20-somethings, those are ‘future problems’ which they are content to confront if or when they come up.

Event Horizon

Dec. 13 (Sat) TD Direct Investing – Technical Analysis – Advanced Indicators (Edmonton)

Dec. 16 (Tues) TD Direct Investing – Building Wealth Through Registered Accounts (Toronto)

NBDB -Stop Orders: A winning solution worth knowing- [Fr] (Montreal)

TD Direct Investing – Building Wealth Through Registered Accounts (Vancouver)

Dec. 17 (Wed) Scotia iTRADE – Taking A Minimum Volatility Approach with iShares (Online)

Dec. 18 (Thur) Scotia iTRADE – The Role Reversal Pattern with AJ Monte (Online)

From the Forums

With the markets in sell mode this past week, investors came off the sidelines to commiserate as well as speculate about potential entry points into the energy sector. Being the end of the calendar year, there were also a higher number of tax and registered account questions.

Barrels of Fun

In this post from the PersonalFinanceCanada subreddit, one reader was interested in finding out how to purchase oil via their online broker Qtrade. After providing some cautionary words, the answers provided were quite interesting.

Remember that Glitch?

In last week’s roundup we reported a trading outage that hit Questrade’s platform. As a follow up to that incident, Questrade posted the following message on their community forum to help explain what happened. While it doesn’t name the software provider specifically, apparently they are in for a sternly worded conversation.

That’s it for this week’s roundup. There are 12 more shopping days left until Christmas (13 for the real procrastinators). Good luck out there in the parking lots, malls and stalls for those brave enough to venture through them!

Posted on December 5, 2014 by user — Leave a comment

Discount Brokerage Weekly Roundup – December 5, 2014

It’s hard to believe that December is already here. People tend to get a bit happier, office work tends to become a little bit more lax, fantasy football more competitive and holiday movies a little more epic. For many of Canada’s discount brokerages, however, before the December slowdown hits, there’s lots of planning and positioning for the year ahead.

In this week’s roundup we take a look at the deals that kicked off the launch into December, review some interesting brokerage trading stats (for the numbers fans), highlight an online bump in the road for one brokerage and finally,we end with a special treat of an announcement for readers of the roundup.

Nice Save

With the start of a new month comes the chance to revisit the activity in the deals and promotions being offered by Canadian online brokerages.

In terms of deals and offers the month started against the backdrop of Black Friday and Cyber Monday. We were curious to see if any brokerage would pitch an offer given the tidal wave of excitement these shopping days generate for bargain hunters. And, in fact, one discount brokerage did step forward into the mix.

Questrade, which ventured into the deals day territory on Boxing Day of last year jumped into Black Friday and Cyber Monday with their discount on trading fees for silver and gold (and what a week to time that around given the volatility in those to precious metals). That promotion runs until the end of December.

The deals and promotions that are currently running for December are largely carried forward from November. Questrade did launch a promotion at the outset of the month which is running for the duration of December. New offerings aside, this month has a number of deals set to expire by the end of the month. It should be interesting to see which offers get extended or replaced as brokerages move into their busiest season after the holidays.

A quick highlight of the current month’s deals shows 16 offers from 7 different brokerages. As with previous periods, Questrade, BMO InvestorLine and Scotia iTrade have several offers in play and this month these three brokerages account for 75% of the deals currently on the table.

Interestingly, an offer from RBC Direct Investing which crossed our radar late last month is positioned to compete with many other offers on the market but specifically weighs in close to the BMO InvestorLine Youth Promotion. Both of these offers require no minimum deposit and the length of time to use the commission-free trades is 90 days.

Interactive Brokers’ Trading Cools Down

For those that want to learn more about how the discount brokerage business works, one of the best sources of information is actually the brokerages themselves. Although none of the Canadian discount brokerages are publicly traded, several major US brokerages are and as such there’s lots of information in their quarterly or annual reports.

In particular, Interactive Brokers (which also operates a subsidiary in Canada) tends to do a great job of laying out its customer trading activity metrics (in aggregate). For those that are interested in tracking IB’s progress, this link summarizes their latest performance metrics. There’s some pretty detailed data in there, especially on the number of buys and sells of equities by month as well as the average commission paid by clients for trades.

On their business end of things, while they seem to be growing their account base at a steady clip, the number of trades dipped month over month. With the recent string of market volatility however, what was interesting to note about their latest earnings figures was the fact that their market making business segment didn’t do as well as many had hoped (yet again), demonstrating even pros can have a rough go at beating the market they’re helping to make.

Outage = Ouchage

For anyone who’s spent a significant time behind a trading window or terminal, there are few things more unnerving than market connection problems. With so many technology touch points between buyer and seller, it’s remarkable that more doesn’t go wrong than already does.

Unfortunately for Questrade and their clients, this past week saw their online trading platforms go offline just as the markets were whipsawing into an open on Monday. Some months back we reported on TD Direct Investing’s network outage which took down WebBroker for a while.

While Jimmy Kimmel could probably have Questrade on his show to read some of the ‘mean tweets’ that came their way as a result of the outage, the reality for anyone trading online is to be prepared for if/when it happens.

The predictable jammed phone lines, boiling tempers and (at times) helpless feelings of watching the market turn against a position you just can’t get out of (and yes, those that you could have gotten into) characterize these scenarios.

For their part, Questrade handled the crush of Twitter, forum and other online traffic fairly responsively. They tried, it appears, to keep people updated on Twitter as to the status of the outage. That said, it leaves a bitter taste to have to be stuck in or locked out of trading but big firms or small are susceptible.

Ultimately, the lesson that many learn is that it’s up to individual investors to identify and control position risks and, have a plan to be ready for when things go haywire, especially when actively trading. It doesn’t make for a great sales pitch but probably does help account for the fact that disclaimer text on all of the brokerage platforms, data feeds and account opening documentation being as long as it is.

A Sneak Peak

December is shaping up to be a really exciting month here at SparxTrading.com. Throughout this month (starting next week) we have some amazing content presents lined up for release. Stay tuned next week and through December as we share some really interesting pieces on 2014 from some special guests.

Event Horizon

Dec. 9 (Tue) Scotia iTRADE – Alternative Investing Using ETFs with Horizons

Dec. 10 (Wed) Scotia iTRADE – Understanding The Greeks with Montreal Exchange

Dec. 11 (Thur) NBDB – Technical Analysis: Oscillators – [Fr]

Dec. 11 (Thur) NBDB – Introduction to Options – [Fr]

From the Forums

Do you have that in stock?

It’s not typically a question you would think to ask your online brokerage, however this post from RedFlagDeals.com’s investing forum does raise an interesting point. While typically not an issue on the long side, those thinking of picking a brokerage because they like to short should consider asking it.

That does it for this week’s roundup. With holiday music and general Christmas merriment (and mall traffic) in full swing here’s a little intergalactic cheer. Good luck on your adventures this weekend wherever they may boldly take you!

Posted on December 1, 2014January 30, 2021 by user — Leave a comment

Discount Brokerage Deals and Promotions – December 2014

*Updated Dec. 17, 2014*

With the start of December coming on the heels of two of the biggest deals days of the year, the Canadian discount brokerage deals & promotions section is filled to the brim with offers from online brokerages. Unlike the pictures on television or Twitter, however, there was no crush of people attempting to get in on a sale on a brokerage account – although that didn’t stop at least one brokerage from trying to catch the deal-frenzy wave.

Heading into the last month of the year, the deals activity did pick up slightly through November with three updates to the deals pool. Most notably, an offer from RBC Direct Investing was spotted that signals their re-entry into the promotions space until the end of this year.

At the outset of December, it appears that Questrade has continued with its strategy of offering up promotions/incentives that are timely, as they launched a holiday-themed offer alongside several of their existing offers.

Of course, the news wasn’t all cheerful for deals, as a pair of offers from TD Direct Investing and Questrade ended by the time December rolled around as well as the iPad Mini offer from Questrade.

The last month of the year is also a bit of a milestone month for many active offers. There are at least 7 offers that are set to expire by year’s end signaling a potentially exciting start to 2015. That said, there’s still lots of time left for some interesting announcements to be made. So even though we’ve made this list, we’ll be checking it twice, and, hopefully we’ll find something nice.

Expired Deals

The deals that expired coming into December were the monster offer by TD Direct Investing for 200 commission-free trades and Questrade’s 100 commission-free trade offer. Also on the way out (for now) was the iPad Mini deal from Questrade.

Extended Deals

While it was left off the deals section for some time, the Scotia iTrade refer-a-friend deal finds its way back onto the list as the expiration date has been updated/extended until the end of December.

New Deals

*Update: Dec. 17, 2014 – National Bank Direct Brokerage has just announced a huge commission rebate offer of up to $1,000 for deposits of $100,000 or more or $500 for deposits of $20,000 or more. NBDB has been quiet in terms of deals for several months, however this newly launched promotion is a significant one compared to other offers in the same deposit range. The offer is open to new and existing clients however according to the terms and conditions, individuals who have participated in any other promotions with NBDB since January 2014 are not eligible. Also worth noting, the total amount of the rebate includes any transfer rebates (of up to $135) that individuals may take advantage of if switching providers. This means that the amounts remaining (if using the transfer fee rebate) would be at least $365 or $865 (depending on the deposit size). The window for rebates to be applied are subject to a schedule outlined in their terms and conditions, however essentially qualified clients can have trade commissions (stocks, options & ETFs) made within 90 days of opening the account refunded. The terms and conditions are remarkably brief so be sure to read them through if considering this offer. Additional details are in the table below.*

The newest promotion at the outset of the month comes from Questrade in the form of a ‘holiday’ themed offer. Questrade is offering new and existing clients up to 30 commission free trades for a deposit of at least $1,000. The commission-free trades are good for 30 days – just in time for that other season trader’s know comes this time of year – tax loss selling season.

The deals that joined the list of offers mid-month last month included offers from BMO InvestorLine for 5 commission-free trades for using their new mobile app; RBC Direct Investing’s offer (mentioned above) of 20 commission-free trades for a new account opening and finally a cash-back offer by Questrade to compete at the higher deposit levels.

Discount Brokerage Deals

Brief Description	Minimum Deposit Amount	Commission/Cash Offer Type	Time Limit to Use Commission/Cash Offer	Details Link	Deadline
A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform.	n/a	Discounted Commission Rates	none	For more details click here	none
For individuals between 18 and 35 who open a new qualifying account with BMO Investorline, they may be eligible to receive 35 commission-free trades, an eBook on investing and potentially waived account minimum fees. Use promo code “New” when signing up. Be sure to read the terms and conditions for more details on the offer.	n/a	35 commission-free trades	90 days	Youth Promotion	January 5, 2015
Individuals opening a new account with RBC Direct Investing by December 31st may be eligible to receive a commission-rebate on their first 20 trades. Use promo code QC20 or visit the info page link for a valid code. Be sure to read the terms and conditions on this offer.	n/a	20 commission-free trades	90 days	Full offer information can be found here . For terms and conditions information click here.	December 31, 2014
Download the BMO InvestorLine iPad app and you could qualify for up to 5 commission-free trades. This offer is open to new and existing clients and can be combined with other offers. Clients must have a qualifying account in order to be eligible. Read full terms and conditions for details.	n/a	5 commission-free trades ($50 max value)	30 days	Tablet Trades Promotion	January 5, 2015
Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc	$1,000	$50 commission credit	none	none	none
Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account.	$1,000	$50 commission credit (friend) $100 commission credit (referrer bonus)	60 days	Refer a friend	none
Open a new account (TFSA, Margin or RRSP) by December 30 2014 with a deposit of at least 1,000 and you could be eligible to receive up to 30 commission-free trades with 30 days of opening/funding your account. Use promo code 30trades2014 when signing up. Be sure to read terms and conditions for full details.	$1,000	30 commission-free trades	30 days	30 commission-free trades	December 30, 2014
Open a new account (TFSA, Margin, RRSP or FX/CFD) and place at least one trade within 60 days of opening and you may be eligible to receive a $50 prepaid Visa card from Questrade. Use promo code VISA50. Be sure to read terms and conditions for full details on this offer	$5000	$50 Visa gift card	Cards will be mailed within 40 business days of reaching account funding requirement.	$50 Prepaid Visa Card Offer	December 31, 2014
If you refer a friend/family member who is not already a Scotia iTrade account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members’ contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link.	A)$10,000 B)$50,000+	A) You(referrer): $50 or 10 free trades; Your “Friend”: $50 or 10 free trades (max total value:$99.90) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $499.50)	60 days	Refer A Friend to Scotia iTrade	December 31, 2014
Open and fund a new Scotia iTRADE account with at least $15,000 before December 31, 2014 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code HUN-SP. See details link for further terms and conditions.	$15,000	100 commission-free trades ($999 value @ $9.99 commission rate)	60 days	Scotia iTrade 100 free trades + FlightDesk	December 31, 2014
Open a new account with Scotia iTrade with either A) $15,000 – $99,999 B) $100,000 – $499,999 or C) $500,000+ and you may be eligible to receive either A)100 free trades or $50 cash B)250 free trades or $250 or C)500 free trades or $500 cash. Accounts must be opened prior to December 31st, 2014. New clients use code: FATD14E for free trades and code: MONF14 for cash back. Existing clients must call client service (1-888-769-3723) to qualify. Be sure to read terms and conditions regarding minimum balance requirements and other details.	A)$15,000 – $99,999 B)$100,000 – $499,999 C)$500,000+	A) 100 commission-free trades or $50 cash B) 250 commission-free trades or $250 cash C) 500 commission-free trades or $500 cash	For commission-free trades: 180 day limit For cash back: payout occurs by August 31, 2015	Cash back + Free trade offer	December 31, 2014
Open a new account and fund it with at least (A) $20,000 or (B)$100,000 and NBDB may provide up to (A) $500 or (B) $1,000 in commission rebates for qualifying accounts. Use promo code “CashBack2015” when signing up. Be sure to read the terms and conditions for eligibility and refund dates.	A)$20,000 – $99,999 B)$100,000+	A)$500 commission rebate B)$1,000 commission rebate	90 days (rebate of commissions depends on sign up date and is outlined on terms/conditions)	Cash Back Offer	March 31, 2015
Open a new account or fund an existing account at CIBC Investor’s Edge with at least A)$25,000-$49,999 B)$50,000 – $99,999 or C)$100,000+ and you may be eligible to receive A)$100 cash back and 25 free trades; B)$200 cash back and 50 trades or C)$300 cash back and 100 free trades. Be sure to read the terms and conditions for full details on this offer.	A) $25,000 – $49,999 B) $50,000 – $99,999 C) $100,00+	A) $100 cash back + 25 commission-free trades B) $200 cash back + 50 commission-free trades C) $300 cash back + 100 commission-free trades	Cash back payout occurs within 30 days of account funding; Time limit to use commission free trades is 60 days	Investors Edge Cash Back and Free Equity Trades Offer	February 28, 2015
Disnat is offering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info.	$50,000	$300 commission credit	6 months	Disnat $300 Commission Credit Promo	December 31, 2014
Open and fund a new account at Questrade with at least A)$50,000 or B)$100,000 by December 30, 2014 and you may be eligible to receive either A)$100 cash back or B)$250 cash back. Use promo code: CASHBACK250W when opening the account. Be sure to read the terms and conditions for full details.	A)$50,000 B)$100,000	A)$100 cash back B)$250 cash back	Cash back payout occurs after 60 days.	Questrade Cash Back Offer	December 30, 2014
If you refer a new client to BMO InvestorLine and they open an account with a)$50,000 – $249,999 or b)$250,000+ the referrer and the referee will both receive cash. The new account must be opened with the referral code specific to the referrer.	A) $50,000 – $249,000 B) $250,000+	A) You(referrer): $200; Your Friend(referee): $50 B) You(referrer): $300; Your Friend: $100	Payout occurs after 60 days (subject to conditions).	Contact InvestorLine for full terms and conditions.	October 30, 2015
Open and fund a new qualifying account at BMO InvestorLine with at least $100,000 in net new assets and you may be eligible to receive $250 cash back and a rebate of commissions on up to 25 trades made within 50 days of opening the account. Use the promo code SMILE when signing up for the account. Be sure to read full terms and conditions for eligibility and further details.	$100,000	$250 cash back + 50 commission-free trades (rebated)	50 days (payout for cash back and commission rebate occurs after 6 months)	Smile Promotion	January 18, 2015

Transfer Fee Deals

Brief Description	Maximum Transfer Fee Coverage Amount	Minimum Deposit Amount for Transfer Fee Eligibility	Details Link	Deadline
Transfer $15,000 or more to Credential Direct and they will pay the transfer-out fees up to $150. If you wish to switch out of Credential Direct after 90 days they will waive their transfer out fee. See link for more details.	$150	$15,000	Transfer Free Promo	December 15, 2014
Transfer $15,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees	$135	$15,000	Transfer Fee Rebate Details	none
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150.	$150	$25,000	Transfer Fee Promo	none
Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees	$135	$25,000	Transfer Fee Rebate	none
Qtrade Investor will reimburse your transfer fee up to $125 when transferring a balance of $25,000 or more. For reimbursement, please mail or fax a copy of your statement from the transferring institution that shows the transfer charge to Qtrade Investor at 604.484.2627 and indicate your Qtrade Investor account number.	$125	$25,000	Transfer Fee Promo	none
Disnat is offering up to $150 to cover the cost of transfer fees from another institution. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info.	$150	$50,000	Disnat $300 Commission Credit Promo	December 31, 2014

Posted on November 28, 2014 by user — Leave a comment

Discount Brokerage Weekly Roundup – November 28, 2014

Whether it was landing a great Black Friday deal, or a managing to catch a seemingly impossible pass, this past week has been book-ended by really interesting catches and stuffed with goodies. Discount brokerages this week kept pace with the great catch theme as they hauled in awards and recognition as part of online brokerage ratings season.

In this week’s roundup, we go deep on the rankings and ratings that crossed the tape for DIY investors. Specifically we look at the results from the Globe and Mail’s Online Brokerage Ranking as well as the award for best online brokerage from Morningstar. While ratings were definitely a dominant story, there was also an announcement made by an independent Canadian online brokerage that can help a select few rest a little easier at night. Given the focus of the roundup on ratings and rankings, we’ve elected to add in commentary on the brokerage rankings from the forums and Twitter.

Qtrade Back on Top of Globe’s Online Brokerage Rankings

As one of the most highly anticipated rankings of the year, the Globe and Mail’s 2014 Canadian Online Brokerage Rankings did not disappoint. This year’s results contained a bit of drama, a lot of data and even some interesting decisions.

Of course, when it comes to the discount brokerage rankings the burning question that everyone asks is: “who is Canada’s best online brokerage?”

According to Rob Carrick’s analysis, the best of the bunch is a long time podium finisher and previously dominant name in this ranking: Qtrade Financial.

The drama (or at least what may count as drama in the discount brokerage world) was the close finish between the winner for the previous two years, Virtual Brokers, and first place winner Qtrade as the margin separating the two was quite small. Rounding out the top three was BMO InvestorLine.

As with year’s past, cost was a significant contributor to the scoring of the brokerages covered, however it seems that given the widespread cutting of standard commissions, additional costs are being considered as well as broader features related to opening and owning an online brokerage account.

There was lots to chew on in this year’s rankings (which we cover in an upcoming in-depth look at the rankings) however there were a number of interesting observations we had of this year’s online brokerage rankings.

First, there was lots of data this year that hasn’t previously been available or has been put into the brokerage rankings. There were many more tables (which we’re big fans of) that explained other items like forex costs and margin interest rates. In addition, Rob Carrick also released the completed surveys by each brokerage for users of GlobeInvestor to examine. Finally, there was a ‘decision path’ that was created to help users navigate the maze of questions and features that can help determine a provider.

It was encouraging to see the ratings and rankings to go beyond just the report card style grading of discount brokerages and to enable users to sort by key category. There was clearly a lot of work and data that went into the grading decisions and the presentation this year. In particular, the decision pathway that, while complex, may enable some users to navigate the evaluation process more efficiently.

That said, it is important to take the rankings with a grain of salt.

The online brokerage rankings and ratings were coming largely from a single (albeit) informed source and as such carry a very subjective element. Another item to keep in mind is that these rankings take a snapshot and grade based on a particular moment in time. The Canadian discount brokerage industry is rapidly evolving and features that might be missing today in a particular brokerage could get addressed between now and the next rankings. Finally, there will likely be a lot of related marketing emerging from the various brokerages based on the results, so it is important to understand how the Globe and Mail online brokerage rankings work. We’ve put together a primer from year’s past which is still largely applicable to this past year.

BMO InvestorLine wins Morningstar Investment Award

This past week there was another group that bestowed the title of “Best Online Brokerage” to a Canadian discount brokerage.

The annual Morningstar Investment Awards took place this past week in downtown Toronto which is where BMO InvestorLine was crowned Canada’s Best Online Brokerage.

As the award may not be as well known as some of the other online brokerage rankings/ratings, here is a quick primer.

In terms of process and selection, the best online brokerage award is designated as a “submission-based” award. What this means is that individual Canadian discount brokerages essentially self-select for participation/evaluation by paying a $1,000 submission fee and preparing answers to a list of questions about their firm. Proceeds from the submission fees collected go to MusicCounts, the charitable foundation partner of the Morningstar event.

For the online brokerage segment, the key questions were grouped under three main categories:

The website
Customer service
Costs

As part of their submission, brokerages were asked to mention how their firm was different than other firms, what the firm has done over the past one to two years and to discuss any strategic area of focus.

A panel of jurors ( in the case this year there were three jurors) evaluates the submissions and establishes three finalists. They then discuss/deliberate the three finalists and ultimately choose a winner who then gets the award.

One of the reasons the process is key to understand is that, unlike other rankings or ratings, the evaluations are not scored or weighted using a point system. Instead the winner of the top online brokerage award comes down to the decision of the jurors. The jurors for ‘best discount brokerage’ this year included:

Glenn A. Lacoste, President, Surviscor
Jon Purther, President & COO, Corbin Partners Inc.
Paul K. Bates, CMA, FCMA, Assistant Professor of Leadership, McMaster Divinity College

Interesting Connections

While the Morningstar award may not be as well known on the rankings circuit as the other online brokerage rankings that are currently available, there is a connection between them and several other Canadian brokerage rankings. Specifically, one of the award judges was Glenn Lacoste, president of Surviscor, produces the Surviscor ‘best online brokerage’ rating as well as helps Moneysense Magazine to power their online brokerage ratings. This, naturally spurred a bit of curiosity as to whether there would be a connection in the results of the awards from Surviscor and Morningstar.

When looking back at the results over the past 3 years in particular between the Surviscor winners for Best Online Brokerage and the winners for Best Discount/Online Brokerage on Morningstar, we noted that the winner of the Surviscor designation (or at least one of the winners depending on the quarter) had a strong tendency to win the Morningstar designation also.

Year	Juror 1	Juror 2	Juror 3	Juror 4	Surviscor Best Online Brokerage Award Winner	Morningstar Best Online Brokerage Award Winner
2012	PAUL K. BATES ASSISTANT PROFESSOR OF LEADERSHIP, MCMASTER DIVINITY COLLEGE	GLENN A. LACOSTE, PRESIDENT SURVISCOR	JON PURTHER PRESIDENT AND COO, CORBIN PARTNERS INC.	JONATHAN CHEVREAU, EDITOR, MONEY SENSE	Q1 – Qtrade Q3 – Scotia iTrade	Qtrade (best discount broker)
2013	PAUL K. BATES ASSISTANT PROFESSOR OF LEADERSHIP, MCMASTER DIVINITY COLLEGE	GLENN A. LACOSTE, PRESIDENT SURVISCOR	JON PURTHER PRESIDENT AND COO, CORBIN PARTNERS INC.	JONATHAN CHEVREAU, EDITOR, MONEY SENSE	Q1 – Scotia iTrade Q3 – BMO Investorline	BMO InvestorLine (best online brokerage)
2014	PAUL K. BATES ASSISTANT PROFESSOR OF LEADERSHIP, MCMASTER DIVINITY COLLEGE	GLENN A. LACOSTE, PRESIDENT SURVISCOR	JON PURTHER PRESIDENT AND COO, CORBIN PARTNERS INC.		BMO InvestorLine	BMO InvestorLine (best online brokerage)
Source: http://www.investmentawards.com/home http://surviscor.com/scorView/Reviews/OnlineDiscountBrokerage/Q3-2012/ http://www.surviscor.com/scorView/Reviews/OnlineDiscountBrokerage/Q1-2013/ http://www.surviscor.com/scorView/Reviews/OnlineDiscountBrokerage/Q3-2013/	#colspan#	#colspan#

Given the similarity of focus between the criteria for the Surviscor award as well as for the Morningstar best online brokerage award, it is understandable that there would likely be some degree of concordance between the two in terms of outcomes. What is interesting, however, is that because the Morningstar awards are submission-based, not all brokerages may choose to participate. Morningstar does not publish or release the list of submissions so it is unclear as to how many brokerages actually submitted to participate this year.

The important takeaway for consumers with respect to the rankings and ratings or awards, is that it is important to put the method of evaluation into context. With both the Globe and Mail’s “best online brokerage” and Morningstar’s “best online brokerage” yielding differing results, things can get understandably confusing.

With several firms (including JD Power and Dalbar) also participating in the rankings and ratings of Canadian discount brokerages there will be no shortage of “bests” or “tops” still to come. The process and transparency by which these designations are awarded, however, will ultimately govern the extent to which DIY investors turn to these awards and more importantly, trust them.

Just in Case

Switching gears away from ratings, ravings, and rankings, there was a new feature addition that Virtual Brokers announced earlier this week. Specifically they have added additional coverage on portfolios over and above what the CIPF currently offers (which is $1 million) to the tune of $11 million. As such clients with portfolios up to $11 million can have supplemental insurance coverage of their accounts. The insurance is being provided by Lloyds of London.

From the Forums

Reactions to the rankings and ratings were minimal in the forums. We did find this post related to features referenced from TD Direct Investing as mentioned in the Globe and Mail brokerage ranking.

We’ve also included some reactions from Twitter that map onto the frenzy of ratings/rankings that have taken place over the last few days.

View the story “Best Online Brokerage Ratings and Reactions” on Storify

That’s a wrap for this week. For the deal hunters out there, keep your heads up and have a great cyber shopping weekend!

Discount Brokerages in 2015

Flurry of Deals

Event Horizon

From the Forums

In with the old

Questrade stepping into the ETF game

Interactive Brokers trading metrics

Event Horizon

From the Forums

Registering a Vote

Flipping the Switch

Expired Deals

Extended Deals

New Deals

Discount Brokerage Deals

Transfer Fee Deals

Interview with Desjardins Online Brokerage

Commercial Viability

Headline Number

Online brokerage year in review & preview

Qtrade announces leadership changes

National Bank Direct Brokerage launches new deal

A technical win for Recognia

Event Horizon

From the Forums

Chatter on Interactive Brokers

Battle of the Banks

In their own words

Table 1: Canadian Online Brokerages Participating in the Year in Review

Getting up to speed

Sparx Launches the first interview of our Executive Video Series

Interactive Brokers Canada to Offer Registered Accounts

Investors Sher-Wood Like to Trade for Free

Event Horizon

From the Forums

Barrels of Fun

Remember that Glitch?

Nice Save

Interactive Brokers’ Trading Cools Down

Outage = Ouchage

A Sneak Peak

Event Horizon

From the Forums

Do you have that in stock?

Expired Deals

Extended Deals

New Deals

Discount Brokerage Deals

Transfer Fee Deals

Qtrade Back on Top of Globe’s Online Brokerage Rankings

BMO InvestorLine wins Morningstar Investment Award

Interesting Connections

Just in Case

From the Forums