Tag: Desjardins Online Brokerage

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Discount Brokerage Deals & Promotions – March 2014

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

Expired Deals

The following discount brokerage deals expired this past February:

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

Extended Deals

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

New Deals & Promos

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

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

See the table below for additional info]

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

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

Discount Brokerage Deals

Company Brief Description Minimum Deposit Amount Commission/Cash Offer Type Time Limit to Use Commission/Cash Offer Details Link Deadline
Jitney Trade A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform. n/a Discounted Commission Rates none For more details click here none
Open a new account at HSBC Invest Direct by March 31st, 2014 and receive 30 calendar days of free equity (including ETF) trading of North American and International equities. This offer is open to new and existing HSBC InvestDirect clients. Be sure to read the terms and conditions and the FAQs for more details. $0 Unlimited equity trades (commissions to be rebated within 90d) 30 days HSBC Dalbar Award Offer Terms & Conditions. For FAQ information, click here March 31, 2014
Open and fund a new account at TD Direct Investing with either A)$99,999 or less or B)$100,000 or more and receive commission rebates on either A)30 trades or B)300 trades. New accounts must be opened by April 30, 2014. Be sure to read the terms and conditions for full information on this offer. A)$0-$99,999 B)$100,000+ A) 30 commission free trades (rebated) B) 300 commission free trades (rebated) Trades must be executed by August 1, 2014 4pm ET to qualify for rebate. TD Direct Investing Free Trade Offer April 30, 2014
Open a new account with RBC Direct Investing before March 3, 2014 and they will offer 20 commission free trades that are good for use for up to 90 days. Use promo code: 20W17 when opening the account. Be sure to read the offer page and the terms and conditions page for full information. $0 20 free trades (equity & etf) 90 days For the offer page, click here and for the terms and conditions, click here March 3, 2014
Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc $1,000 $50 commission credit none none none
Open an account with Virtual Brokers with a deposit at least $1,000 and Virtual Brokers will offer 25 commission free trades which can be used for up to 1 year. Use promo code “25FTNE” when signing up. This offer is open to new clients only. Be sure to read the terms and conditions for full details on this offer. $1,000 25 commission-free trades 365 days 25 free trades offer March 31, 2014
Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account. $1,000 $50 commission credit (friend) $100 commission credit (referrer bonus) 60 days Refer a friend none
Open a new account (TFSA, Margin or RRSP) by July 1 2014 A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code QT100 must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information. A)$1,000 B)$10,000 A)10 free trades B)100 free trades 60 days 100 commission-free trades July 1, 2014
Open a new TFSA, margin or registered account with Questrade and receive either A) 31 days B) 62 days or C) 90 days of unlimited commission-free stock & options trades. Use promo code UNLIMITEDW14 when signing up. Be sure to read the terms and conditions for more information. A)$1,000 B)$25,000 C)$50,000 Unlimited commission-free trades during associated period. A) 31 days B) 62 days C) 90 days Questrade Unlimited Trade Promo March 3, 2014
Disnat As part of their Stockscores tour, Disnat Direct is offering a “hat trick” promotion. Open a new account with at least $10,000 by June 15, 2014 and receive: $300 in commission credits, 3 months of trading at $5 commission per trade, 3 months of platform access to DDWeb/DDXtra and 1 year’s free subscription to TradeScores daily newsletter. Use the promo code “Hat Trick” when registering via phone. Read the terms and conditions for more details. $10,000 1) $300 commission credits 2) 3 months of $5/trade commission rate 3) 3 months platform access to DDWeb/DDXtra 4)1 year’s free subscription to TradeScores daily newsletter 1) 3 months Disnat Direct Hat Trick Promotion June 15, 2014
Scotia iTrade If you refer a friend/family member who is not already a Scotia iTrade account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members’ contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link. A)$10,000 B)$50,000+ A) You(referrer): $50 or 10 free trades; Your “Friend”: $50 or 10 free trades (max total value:$99.90) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $499.50) 60 days Refer A Friend to Scotia iTrade March 31, 2014
Deposit $5,000 into an RSP and $5,000 into either a cash or TFSA account and Credential Direct will waive the $50 administration fee for the RSP account. Be sure to contact their customer service to clarify the exact terms & conditions. $10,000 ($5000 into RSP + $5000 into TFSA/Cash account) $50 admin fee waived none 5+5 Promotion March 3, 2014
Scotia iTrade Open a new account with Scotia iTrade and fund it with at least $15,000, and you can receive 100 commission-free trades, 60 days of FlightDesk and be entered into a contest for a trip to the Stanley Cup Finals or one of 5 runner-up prizes of iPad Air (64gb). Use Promo code RS13-SCE when opening the account. Existing clients must call customer service to qualify for contest entry. There are lots of terms, conditions, and rules/regulations so be sure to read them for more details. $15,000 100 free trades ($999 max value @ 9.99 commission rate) 60 days Stake Your Claim to the Stanley Cup Promotion March 24, 2014
Open a new account before March 31, 2014 with at least a)$20,000 or b)$100,000 and National Bank Direct Brokerage will offer up to a)$500 or b)$1000 in commission fee credits. Use the promo code “CASHBACK2014” when signing up to qualify for this offer. Be sure to read the terms and conditions for this offer especially the refund dates for commission credits. A)$20,000 B)$100,000 A)$500 commission credit B)$1000 commission credit 90 days Invest and get cash back offer March 31, 2014
Scotia iTrade Open and fund a new Scotia iTRADE account with at least $15,000 before June 30, 2014 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code HUN-SP. See details link for further terms and conditions. $15,000 100 commission-free trades ($999 value @ $9.99 commission rate) 60 days Scotia iTrade 100 free trades + FlightDesk June 30, 2014
BMO InvestorLine Open and fund a new RSP or TFSA account with BMO InvestorLine with either A)$25,000 or B)$50,000 and they will pay either A)$100 or B)$250 cash back. The promo code for the $100 cash back is “SELECTR100” and for the $250 cash back offer is “SELECTR250”. Be sure to read the terms & conditions for more information. A)$25,000 B)$50,000 A)$100 B)$250 Payout occurs after 6 months Registered Account Cross Sell Campaign March 31, 2014
Disnat Disnat is offering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $50,000 $300 commission credit 6 months Disnat $300 Commission Credit Promo March 31, 2014
BMO InvestorLine If you refer a new client to BMO InvestorLine and they open an account with a)$50,000 – $249,999 or b)$250,000+ the referrer and the referee will both receive cash. The new account must be opened with the referral code specific to the referrer. A) $50,000 – $249,000 B) $250,000+ A) You(referrer): $200; Your Friend(referee): $50 B) You(referrer): $300; Your Friend: $100 Payout occurs after 60 days (subject to conditions). Refer A Friend Terms & Conditions October 31, 2014
BMO InvestorLine [Main offer]Open a new account or deposit new funds of $100,00 or more and you can be eligible for cash rebates of $250 and 250 commission-free trades (Promo code: RSP250). [Bonus Offer] If you open a new account or fund another account you could also be eligible for an additional $50 and 50 commission-free trades (Promo code ADD50). Be sure to read the full details & terms of this offer. $100,000 (main offer) $5000 (bonus offer) [main offer] $250 cash back + 250 commission-free trades (max value $2500) [Bonus offer] $50 + 50 commission-free trades 90 days $300 + 300 trade offer March 10, 2014
Open a new account or transfer new assets of $100,000 or more and choose between receiving either a)A 16GB iPad Mini or B)$250 cash back. Be sure to choose the appropriate code (IPADMINIW13 for the iPad Mini and CASH250W13 for the cash back offer) for each offer. There are several important conditions so be sure to read the terms and conditions for this offer. $100,000 A) iPad Mini (16 GB) [~$270-320 value] B) $250 Cash Payout/iPad delivery occurs after 30 days. iPad Mini or $250 Cash Back March 31, 2014

Transfer Fee Deals

Company Brief Description Maximum Transfer Fee Coverage Amount Deposit Amount for Transfer Fee Eligibility Details Link Deadline
Transfer $15,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees $135 $15,000 Transfer Fee Rebate Details none
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150. $150 $25,000 Transfer Fee Promo none
Transfer at least $25,000 to TD Direct Investing and TD will cover up to $150 in transfer fees $150 $25,000 TD Direct Investing Free Trade Offer April 30, 2014
Virtual Brokers will cover transfer fees from your transferring institution to a maximum of $150 per account. This offer is only applicable to accounts opened with at least $25,000 in equity before March 31, 2014 $150 $25,000 Transfer Fee Promo March 31, 2014
Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees $135 $25,000 Transfer Fee Rebate none
Qtrade Investor Qtrade Investor will reimburse your transfer fee up to $125 when transferring a balance of $25,000 or more. For reimbursement, please mail or fax a copy of your statement from the transferring institution that shows the transfer charge to Qtrade Investor at 604.484.2627 and indicate your Qtrade Investor account number. $125 $25,000 Transfer Fee Promo none
Disnat Disnat is offering up to $150 to cover the cost of transfer fees from another institution. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $150 $50,000 Disnat $300 Commission Credit Promo March 31, 2014
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Discount Brokerage Weekly Roundup – February 14, 2014

On this Valentine’s Day edition of the discount brokerage weekly roundup, romance is definitely the air for many folks.  Yes, it appears more bank-owned discount brokerages are lining up to show just how much they love their self-directed investor clients by offering lower commissions.   Courting self-directed investors, however, is going to take more than just price cuts.  As one low-cost brokerage showed this past week, getting fancier bells & whistles may be part of what’s needed to woo investors their way. In addition to ‘stuff’, another brokerage took to winning the ‘hearts and minds’ of investors by timing an Olympic themed promo.  Finally, this week’s review rounds out with some interesting education events being offered and a great forum thread on RESPs.

The Three Bank Bobsled Team

This past week, BMO InvestorLine became the third Canadian online brokerage to lower their standard commission fee down to $9.95 (click here to read the press release).  While not quite a race to the bottom, it seems that the banks are willing to match one another on their standard pricing. For self-directed investors this is definitely welcome news as the pressure will certainly be mounting on those remaining online brokerages with high (and complicated) standard fees to drop them. On a related note, there was an interesting article in the Globe and Mail regarding the move by bank-owned online brokerages to lower their fees as a strategic move to bring in revenues from sources other than the banking services.

Getting the Power

Not content to sit idly by as the bank-owned online brokerages drift into their pricing territory, this past week Virtual Brokers took aim at the platform and data category by rolling out their PowerTrader Pro platform in a bundle with free streaming data (with a catch of course).  For those brokerages that’ve been chasing the lucrative active trader segment, platforms and data fees (in addition to commissions) have always been a sore point.   The PowerTrader Pro platform, however, is built on the Sterling Trader Pro platform so it has definite appeal to active traders.  To that end, Virtual Brokers is offering free streaming data with the platform for those making complex options trades.  This package and platform take aim at TD Direct Investing’s US Trading Platform (aka ThinkorSwim), Interactive Brokers’ Trader Workstation and Questrade’s IQ platforms as well as those web based or desktop based platforms that don’t have the fancy scanners, charts and trade planning.

Metals for Medals

An interesting Olympic-themed promotion is being offered by Questrade.  Until February 24th, Questrade is offering 50% off precious metal commissions.  To boot, they are also offering a special promo every time Canada wins either a gold or silver medal.   For the physical precious metals bugs, it is but one more reason to cheer on the stellar performance of this year’s Canadian Olympic effort.

Investor Education Events

With all the talk of athletes and fitness, the couch potatoes out there also have something to cheer about.  Credential Direct announced this past week that they are holding a webinar with Dan Bortolotti aka the Canadian Couch Potato.  This webinar will be about building the “perfect” ETF portfolio and yes, attendees can join this webinar from the comfort of their couches.

Continuing on in the investor education theme, Desjardins Online Brokerage (Disnat) is holding a week-long series of education sessions Montréal & Québec City.  The events are free and topics cover a number of themes for self-directed investors.  Of note is that there are a couple of interesting sessions on taxation for investors/traders.  Check out our investor education calendar for more information.

From the Forums

Given the time of year, there is an increase in the number of questions about registered accounts of all kinds (RRSPs, RESPs and TFSAs).  One thread in the RedFlagDeals forum in particular stood out as being an interesting look at RESPs at discount brokerages – specifically on the point of joint subscribers.  Click on the post below to learn more about what folks had to say about RESPs at Canadian discount brokerages.

RESPs at Discount Brokerages

 

That does it for this week’s roundup.  Hope everyone has a great weekend and just as a reminder, Canadian and US stock markets will be closed on Monday – perfect timing given the release of the new House of Cards!

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Discount Brokerage Deals & Promotions – February 2014

*Updated Feb. 27th 2014*

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

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

Expired Deals:

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

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

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

Extended Deals:

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

New Deals:

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

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

Discount Brokerage Deals

Company Brief Description Minimum Deposit Amount Commission/Cash Offer Type Time Limit to Use Commission/Cash Offer Details Link Deadline
Jitney Trade A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform. n/a Discounted Commission Rates none For more details click here none
Open a new account at HSBC Invest Direct by March 31st, 2014 and receive 30 calendar days of free equity (including ETF) trading of North American and International equities. This offer is open to new and existing HSBC InvestDirect clients. Be sure to read the terms and conditions and the FAQs for more details. $0 Unlimited equity trades (commissions to be rebated within 90d) 30 days HSBC Dalbar Award Offer Terms & Conditions. For FAQ information, click here March 31, 2014
Open a new account with RBC Direct Investing before March 3, 2014 and they will offer 20 commission free trades that are good for use for up to 90 days. Use promo code: 20W17 when opening the account. Be sure to read the offer page and the terms and conditions page for full information. $0 20 free trades (equity & etf) 90 days For the offer page, click here and for the terms and conditions, click here March 3, 2014
Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc $1,000 $50 commission credit none none none
Open an account with Virtual Brokers with a deposit at least $1,000 and Virtual Brokers will offer 25 commission free trades which can be used for up to 1 year. Use promo code “25FTNE” when signing up. This offer is open to new clients only. Be sure to read the terms and conditions for full details on this offer. $1,000 25 commission-free trades 365 days 25 free trades offer March 31, 2014
Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account. $1,000 $50 commission credit (friend) $100 commission credit (referrer bonus) 60 days Refer a friend none
Open a new account (TFSA, Margin or RRSP) by March 1 2014 A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code QT100 must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information. A)$1,000 B)$10,000 A)10 free trades B)100 free trades 60 days 100 commission-free trades March 1, 2014
Open a new TFSA, margin or registered account with Questrade and receive either A) 31 days B) 62 days or C) 90 days of unlimited commission-free stock & options trades. Use promo code UNLIMITEDW14 when signing up. Be sure to read the terms and conditions for more information. A)$1,000 B)$25,000 C)$50,000 Unlimited commission-free trades during associated period. A) 31 days B) 62 days C) 90 days Questrade Unlimited Trade Promo March 3, 2014
Scotia iTrade If you refer a friend/family member who is not already a Scotia iTrade account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members’ contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link. A)$10,000 B)$50,000+ A) You(referrer): $50 or 10 free trades; Your “Friend”: $50 or 10 free trades (max total value:$99.90) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $499.50) 60 days Refer A Friend to Scotia iTrade March 31, 2014
Deposit $5,000 into an RSP and $5,000 into either a cash or TFSA account and Credential Direct will waive the $50 administration fee for the RSP account. Be sure to contact their customer service to clarify the exact terms & conditions. $10,000 ($5000 into RSP + $5000 into TFSA/Cash account) $50 admin fee waived none 5+5 Promotion March 3, 2014
Scotia iTrade Open a new account with Scotia iTrade and fund it with at least $15,000, and you can receive 100 commission-free trades, 60 days of FlightDesk and be entered into a contest for a trip to the Stanley Cup Finals or one of 5 runner-up prizes of iPad Air (64gb). Use Promo code RS13-SCE when opening the account. Existing clients must call customer service to qualify for contest entry. There are lots of terms, conditions, and rules/regulations so be sure to read them for more details. $15,000 100 free trades ($999 max value @ 9.99 commission rate) 60 days Stake Your Claim to the Stanley Cup Promotion March 24, 2014
Transfer $15,000 from another institution into an HSBC InvestDirect account and receive 5 commission-free equity trades. This deal also offers a transfer-fee rebate of up to $150 per account transferred. $15,000 5 commission-free equity trades Trades valid for use until May 31, 2014 HSBC InvestDirect Transfer Fee Promo February 28, 2014
Open a new account before March 31, 2014 with at least a)$20,000 or b)$100,000 and National Bank Direct Brokerage will offer up to a)$500 or b)$1000 in commission fee credits. Use the promo code “CASHBACK2014” when signing up to qualify for this offer. Be sure to read the terms and conditions for this offer especially the refund dates for commission credits. A)$20,000 B)$100,000 A)$500 commission credit B)$1000 commission credit 90 days Invest and get cash back offer March 31, 2014
Scotia iTrade Open and fund a new Scotia iTRADE account with at least $25,000 before March 31, 2014 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code HUN-SP. See details link for further terms and conditions. $15,000 100 commission-free trades ($999 value @ $9.99 commission rate) 60 days Scotia iTrade 100 free trades + FlightDesk June 30, 2014
Open and fund a new account at CIBC Investor’s Edge with either A)$25,000 or B)$50,000 and receive either A)$200 + 25 free equity trades or B)$400 + 50 free equity trades. This is an in-branch promotion so contact either customer service or a branch for specific terms and conditions. A)$25,000 B)$50,000 A)$200 + 25 commission-free equity trades B)$400 + 50 commission-free equity trades 1 year Must visit branch to qualify February 1, 2014
BMO InvestorLine Open and fund a new RSP or TFSA account with BMO InvestorLine with either A)$25,000 or B)$50,000 and they will pay either A)$100 or B)$250 cash back. The promo code for the $100 cash back is “SELECTR100” and for the $250 cash back offer is “SELECTR250”. Be sure to read the terms & conditions for more information. A)$25,000 B)$50,000 A)$100 B)$250 Payout occurs after 6 months Registered Account Cross Sell Campaign March 31, 2014
BMO InvestorLine Open and fund a new Cash, Margin, or RSP account with BMO InvestorLine with $25,000 or more and receive $88 cash back. The promo code for the $88 cash back offer is LUNAR2014. Be sure to read the terms & conditions for more information. $25,000 $88 Payout occurs after 3 months 2014 Lunar New Year Promotion February 22, 2014
Disnat Disnat is offering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $50,000 $300 commission credit 6 months Disnat $300 Commission Credit Promo March 31, 2014
BMO InvestorLine If you refer a new client to BMO InvestorLine and they open an account with a)$50,000 – $249,999 or b)$250,000+ the referrer and the referee will both receive cash. The new account must be opened with the referral code specific to the referrer. A) $50,000 – $249,000 B) $250,000+ A) You(referrer): $200; Your Friend(referee): $50 B) You(referrer): $300; Your Friend: $100 Payout occurs after 60 days (subject to conditions). Refer A Friend Terms & Conditions October 31, 2014
BMO InvestorLine [Main offer]Open a new account or deposit new funds of $100,00 or more and you can be eligible for cash rebates of $250 and 250 commission-free trades (Promo code: RSP250). [Bonus Offer] If you open a new account or fund another account you could also be eligible for an additional $50 and 50 commission-free trades (Promo code ADD50). Be sure to read the full details & terms of this offer. $100,000 (main offer) $5000 (bonus offer) [main offer] $250 cash back + 250 commission-free trades (max value $2500) [Bonus offer] $50 + 50 commission-free trades 90 days $300 + 300 trade offer March 10, 2014
Open a new account or transfer new assets of $100,000 or more and choose between receiving either a)A 16GB iPad Mini or B)$250 cash back. Be sure to choose the appropriate code (IPADMINIW13 for the iPad Mini and CASH250W13 for the cash back offer) for each offer. There are several important conditions so be sure to read the terms and conditions for this offer. $100,000 A) iPad Mini (16 GB) [~$270-320 value] B) $250 Cash Payout/iPad delivery occurs after 30 days. iPad Mini or $250 Cash Back March 1, 2014

Transfer Fee Deals

Company Brief Description Maximum Transfer Fee Coverage Amount Deposit Amount for Transfer Fee Eligibility Details Link Deadline
Transfer in $15,000 or more into an HSBC InvestDirect account from another institution, and HSBC will cover up to $150 of transfer fees per funded account. $150 $15,000 HSBC InvestDirect Transfer Fee Promo February 28, 2014
Transfer $15,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees $135 $15,000 Transfer Fee Rebate Details none
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150. $150 $25,000 Transfer Fee Promo none
Virtual Brokers will cover transfer fees from your transferring institution to a maximum of $150 per account. This offer is only applicable to accounts opened with at least $25,000 in equity before March 31, 2014 $150 $25,000 Transfer Fee Promo March 31, 2014
Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees $135 $25,000 Transfer Fee Rebate none
Qtrade Investor Qtrade Investor will reimburse your transfer fee up to $125 when transferring a balance of $25,000 or more. For reimbursement, please mail or fax a copy of your statement from the transferring institution that shows the transfer charge to Qtrade Investor at 604.484.2627 and indicate your Qtrade Investor account number. $125 $25,000 Transfer Fee Promo none
Disnat Disnat is offering up to $150 to cover the cost of transfer fees from another institution. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $150 $50,000 Disnat $300 Commission Credit Promo March 31, 2014
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Digging, Dollars & Donuts – VRIC 2014 Event Review

Pic_EventReview_20140129_VRIC_Brochures_webIf there’s any good news to be found in the junior mining sector, it’s that those companies struggling to stay afloat are still around to struggle.  While the weight of negative news and uncertain forecasts still weighed on investors, this year’s Vancouver Resource Investment Conference (VRIC) nonetheless contained an interesting cross section of attitudes about where things in the junior mining space ‘go from here.’

Who Showed Up

As Western Canada’s largest junior mining & exploration conference, VRIC tends to pull in investors (both retail and institutional) interested in the companies in this sector.  In keeping with years past, this year’s conference was a two-day affair and featured a number of great guest speakers, company presentations, panel discussions and exhibitors.  Although attendance numbers were lower this year (~6000 investors, 2000-3000 exhibitor staff), many of the exhibitors were pleased with the crowd turnout.  In addition to the mining crowd, two discount brokerages had booths at this event: TD Direct Investing and Disnat (now Desjardins Online Brokerage). Unlike year’s past however, there were no really big conference promos although TD Direct Investing did have a draw for 2 hours of investing lessons 1 on 1 with one of their reps.

Pic_EventReview_20140129_CSE_Pavillion_webSome Highlights

A few noteworthy additions for this year included a couple of pavilions. The “Yukon” pavilion was abuzz with events and keynote speakers highlighting business development opportunities in the Yukon. As part of their rebranding campaign, the Canadian Securities Exchange (formerly the CNSX) had a very busy pavilion owing to the combination of some feature CSE listed companies, a big screen TV and an impromptu tailgate party during the Seahawks & 49ers game.  A great little guide was also produced this year by Cambridge House which contained the forecasts for 2014 from 18 thought leaders in the resource space. In addition to mining companies, media & analysts, there were a variety of organizations exhibiting covering everything from corporate social responsibility to crowd funding.

Digging In

Many attendees, exhibitors and speakers appear to agree that times for junior mining companies are bad.  As one mining company executive waiting in line for the conference said, “we’re hanging on by our fingernails.”   The attitude amongst company owners appeared to be, “if we’re fighting that means we’re not dead.”    Whether it’s resilience or denial, the mood amongst companies is to ‘hang on’ for as long as possible.

For investors in these companies, the case for mining and exploration companies spending valuable cash can seem somewhat tenuous.  On the one hand, if they’re not working with the cash, what is it doing? On the other, the timing for pushing forward on certain projects just doesn’t make economic sense.  The market seems equally as disoriented. For example, one mining company executive recounted when they announced that they’d shuttered their spending on exploration/development, they saw a bump in their share price.

Dollars Matter More Than Ever

In a challenging market such as this one, the laws of the investment jungle apply more than ever.  The strong will survive and the weak, no matter how ‘good’ the projects may be, will fall victim to either predators or circumstance.

What was interesting about this year’s VRIC is that there was a mix of both predator and prey in the same room.  Larger investors made no secret of their joy of being able to find undervalued and distressed assets. Analysts and guest speakers (even the usually bearish ones) also suggested that buying opportunities exist in quality companies/projects so long as you’re willing to do the homework to find them.  Perhaps that was cold comfort to some of the strategically weaker companies.  Still doing homework is part of the investment process. To that end, there were many analysts as well as several of the companies in the room, most notably Tickerscores, who have emerged with some interesting tools to help make the job of screening & identifying promising candidates substantially easier.

Pic_EventReview_20140129_VRIC_Donuts_webDo(nut) be Fooled

One of the great tips from the Tickerscores presentation for those interested in the junior mining & exploration space was to question management about how much cash the company has (not just the cash from financing either) to ride out this storm.  For investors, it is best to be aware that many company representatives report ‘sugar coated’ versions of events so be sure to do careful analysis of the company, ask management pointed questions and assess the sector  before considering these investments.

What’s in Store for 2014

Despite the lower turnout, this year’s VRIC crowd was especially enthusiastic to hear popular analysts/speakers giving their reasons to stay out of or dip into these markets.  While investors wait and watch to see what 2014 brings to the junior mining space, Cambridge House announced that investors can now also look forward to a tech investment conference (Cantech) being brought to Vancouver in June (June 12, 2014) shortly after the World Resource Investment Conference.   Either way, for those still in the game by their fingernails, it’s going to be a long winter ahead.

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Review: Dalbar Canada’s Direct Brokerage Service Award 2013

For individual investors, shopping for an online trading account often requires doing a fair amount of research and comparison between brokerages.  While commissions & fees are the most important factor investors consider when choosing an account, what it’s like to be a client of a particular brokerage is also something many investors are often curious about.

Dalbar Award For Discount Brokerage Customer ServiceFortunately for self-directed investors, one Canadian research firm (Dalbar Canada) measures client experience for most of the Canadian discount brokerages as part of their direct brokerage service evaluation (DBSE) program.  As part of the DBSE, Dalbar Canada also recognizes the high achievers in their evaluation with their Direct Brokerage Service Award.

Earlier this year, Dalbar Canada announced  the two highest performing brokerages on the DBSE:  RBC Direct Investing and HSBC InvestDirect.

Quick Overview

In our previous two-part series explaining the Dalbar Direct Brokerage Service Evaluation, we looked in detail at how the evaluation takes place including the components that go into defining ‘client experience’ at discount brokerages.   Here is a brief overview of why client experience still remains an important feature to track when comparing discount brokerages.

More than Just Price

With competition amongst online brokerages increasing, many of them (especially bank-owned brokerages) have adopted very similar pricing models.  Thus, comparing discount brokerages by price alone may not provide enough information for potential clients to make a decision. Going forward, shoppers will have to turn to the other features of a brokerage (such as client experiences) in order to evaluate how ‘good’ they believe the fit will be.

For those shopping for an online trading account, the only somewhat reliable ways to find out about client experiences have been through third party research/reviews and/or from other investors via investor forums or friends, family and colleagues.  The Dalbar Direct Brokerage Service Award is therefore unique in its focus on client experience and tries to provide a picture of what clients can expect from a brokerage when connecting via phone or email.

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Discount Brokerage Deals & Promotions – January 2014

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

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

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

Expired Deals

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

Pending Deals

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

Extended Deals

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

New Deals

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

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

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

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

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

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

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

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

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

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

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

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

Discount Brokerage Deals

Company Brief Description Minimum Deposit Amount Commission/Cash Offer Type Time Limit to Use Commission/Cash Offer Details Link Deadline
Jitney Trade A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform. n/a Discounted Commission Rates none For more details click here none
Open a new account with RBC Direct Investing before March 3, 2014 and they will offer 20 commission free trades that are good for use for up to 90 days. Use promo code: 20W17 when opening the account. Be sure to read the offer page and the terms and conditions page for full information. $0 20 free trades (equity & etf) 90 days For the offer page, click here and for the terms and conditions, click here March 3, 2014
Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc $1,000 $50 commission credit none none none
Open an account with Virtual Brokers with a deposit at least $1,000 and Virtual Brokers will offer 25 commission free trades which can be used for up to 1 year. Use promo code “25FTNE” when signing up. This offer is open to new clients only. Be sure to read the terms and conditions for full details on this offer. $1,000 25 commission-free trades 365 days 25 free trades offer March 31, 2014
Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account. $1,000 $50 commission credit (friend) $100 commission credit (referrer bonus) 60 days Refer a friend none
Open a new account (TFSA, Margin or RRSP) by March 1 2014 A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code QT100 must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information. A)$1,000 B)$10,000 A)10 free trades B)100 free trades 60 days 100 commission-free trades March 1, 2014
Open a new TFSA, margin or registered account with Questrade and receive either A) 31 days B) 62 days or C) 90 days of unlimited commission-free stock & options trades. Use promo code UNLIMITEDW14 when signing up. Be sure to read the terms and conditions for more information. A)$1,000 B)$25,000 C)$50,000 Unlimited commission-free trades during associated period. A) 31 days B) 62 days C) 90 days Questrade Unlimited Trade Promo March 3, 2014
Scotia iTrade If you refer a friend/family member who is not already a Scotia iTrade account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members’ contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link. A)$10,000 B)$50,000+ A) You(referrer): $50 or 10 free trades; Your “Friend”: $50 or 10 free trades (max total value:$99.90) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $499.50) 60 days Refer A Friend to Scotia iTrade January 31, 2014
Deposit $5,000 into an RSP and $5,000 into either a cash or TFSA account and Credential Direct will waive the $50 administration fee for the RSP account. Be sure to contact their customer service to clarify the exact terms & conditions. $10,000 ($5000 into RSP + $5000 into TFSA/Cash account) $50 admin fee waived none 5+5 Promotion March 3, 2014
Scotia iTrade Open a new account with Scotia iTrade and fund it with at least $15,000, and you can receive 100 commission-free trades, 60 days of FlightDesk and be entered into a contest for a trip to the Stanley Cup Finals or one of 5 runner-up prizes of iPad Air (64gb). Use Promo code RS13-SCE when opening the account. Existing clients must call customer service to qualify for contest entry. There are lots of terms, conditions, and rules/regulations so be sure to read them for more details. $15,000 100 free trades ($999 max value @ 9.99 commission rate) 60 days Stake Your Claim to the Stanley Cup Promotion March 24, 2014
Transfer $15,000 from another institution into an HSBC InvestDirect account and receive 5 commission-free equity trades. This deal also offers a transfer-fee rebate of up to $150 per account transferred. $15,000 5 commission-free equity trades Trades valid for use until May 31, 2014 HSBC InvestDirect Transfer Fee Promo February 28, 2014
Open a new account before March 31, 2014 with at least a)$20,000 or b)$100,000 and National Bank Direct Brokerage will offer up to a)$500 or b)$1000 in commission fee credits. Use the promo code “CASHBACK2014” when signing up to qualify for this offer. Be sure to read the terms and conditions for this offer especially the refund dates for commission credits. A)$20,000 B)$100,000 A)$500 commission credit B)$1000 commission credit 90 days Invest and get cash back offer March 31, 2014
Scotia iTrade Open and fund a new Scotia iTRADE account with at least $25,000 before March 31, 2014 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions. $25,000 100 commission-free trades ($999 value @ $9.99 commission rate) 60 days Scotia iTrade 100 free trades + FlightDesk March 31, 2014
Open and fund a new account at CIBC Investor’s Edge with either A)$25,000 or B)$50,000 and receive either A)$200 + 25 free equity trades or B)$400 + 50 free equity trades. This is an in-branch promotion so contact either customer service or a branch for specific terms and conditions. A)$25,000 B)$50,000 A)$200 + 25 commission-free equity trades B)$400 + 50 commission-free equity trades 1 year Must visit branch to qualify February 1, 2014
BMO InvestorLine Open and fund a new RSP or TFSA account with BMO InvestorLine with either A)$25,000 or B)$50,000 and they will pay either A)$100 or B)$250 cash back. The promo code for the $100 cash back is “SELECTR100” and for the $250 cash back offer is “SELECTR250”. Be sure to read the terms & conditions for more information. A)$25,000 B)$50,000 A)$100 B)$250 Payout occurs after 6 months Registered Account Cross Sell Campaign March 31, 2014
BMO InvestorLine Open and fund a new Cash, Margin, or RSP account with BMO InvestorLine with $25,000 or more and receive $88 cash back. The promo code for the $88 cash back offer is LUNAR2014. Be sure to read the terms & conditions for more information. $25,000 $88 Payout occurs after 3 months 2014 Lunar New Year Promotion February 22, 2014
*Expired* Open a new account at Questrade by January 2, 2014 and fund it with a minimum of $25,000 to receive 25 commission-free trades which can be used throughout 2014. Use offer code BOXING13 when signing up for the account to qualify. Be sure to read the terms and conditions associated with this offer for more details. $25,000 25 commission-free trades End of 2014 Questrade Boxing Day Promo January 2, 2014
*Expired* Open and fund a new account with $25,000 or more and you will qualify for 25 free trades. The offer code changed with different visits to the site, so click through the RBC Direct Investing homepage to generate a valid code. There are a number of terms and conditions attached to this offer, be sure to read see the details link. $25,000 25 commission-free trades (no restriction on commission rate listed) 365 days 25 Free Trades Offer Terms & Conditions ; Link To generate an offer code no longer valid. none
Disnat Disnat is offering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $50,000 $300 commission credit 6 months Disnat $300 Commission Credit Promo March 31, 2014
BMO InvestorLine *Expired* Open a new account or upgrade an existing account with A) $50,000 or more OR B)$100,000 or more and receive either A)250 commission-free mobile-placed trades OR B) 250 commission-free mobile-placed trades + $250 cash back. Use Promo Code: MOBILE when signing up to qualify. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully. A) $50,000 B)$100,000 A) 250 commission free mobile-placed trades B) 250 commission free mobile-placed trades + $250 Cash Back Payout occurs after 6 months Free Mobile Trading/Cash Back Offer January 6, 2014
BMO InvestorLine If you refer a new client to BMO InvestorLine and they open an account with a)$50,000 – $249,999 or b)$250,000+ the referrer and the referee will both receive cash. The new account must be opened with the referral code specific to the referrer. A) $50,000 – $249,000 B) $250,000+ A) You(referrer): $200; Your Friend(referee): $50 B) You(referrer): $300; Your Friend: $100 Payout occurs after 60 days (subject to conditions). Refer A Friend Terms & Conditions October 31, 2014
BMO InvestorLine [Main offer]Open a new account or deposit new funds of $100,00 or more and you can be eligible for cash rebates of $250 and 250 commission-free trades (Promo code: RSP250). [Bonus Offer] If you open a new account or fund another account you could also be eligible for an additional $50 and 50 commission-free trades (Promo code ADD50). Be sure to read the full details & terms of this offer. $100,000 (main offer) $5000 (bonus offer) [main offer] $250 cash back + 250 commission-free trades (max value $2500) [Bonus offer] $50 + 50 commission-free trades 90 days $300 + 300 trade offer March 10, 2014
Open a new account or transfer new assets of $100,000 or more and choose between receiving either a)A 16GB iPad Mini or B)$250 cash back. Be sure to choose the appropriate code (IPADMINIW13 for the iPad Mini and CASH250W13 for the cash back offer) for each offer. There are several important conditions so be sure to read the terms and conditions for this offer. $100,000 A) iPad Mini (16 GB) [~$270-320 value] B) $250 Cash Payout/iPad delivery occurs after 30 days. iPad Mini or $250 Cash Back March 1, 2014

Transfer Fee Deals

Company Brief Description Maximum Transfer Fee Coverage Amount Deposit Amount for Transfer Fee Eligibility Details Link Deadline
Transfer in $15,000 or more into an HSBC InvestDirect account from another institution, and HSBC will cover up to $150 of transfer fees per funded account. $150 $15,000 HSBC InvestDirect Transfer Fee Promo February 28, 2014
Transfer $15,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees $135 $15,000 Transfer Fee Rebate Details none
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150. $150 $25,000 Transfer Fee Promo none
Virtual Brokers will cover transfer fees from your transferring institution to a maximum of $150 per account. This offer is only applicable to accounts opened with at least $25,000 in equity before March 31, 2014 $150 $25,000 Transfer Fee Promo March 31, 2014
Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees $135 $25,000 Transfer Fee Rebate none
Qtrade Investor Qtrade Investor will reimburse your transfer fee up to $125 when transferring a balance of $25,000 or more. For reimbursement, please mail or fax a copy of your statement from the transferring institution that shows the transfer charge to Qtrade Investor at 604.484.2627 and indicate your Qtrade Investor account number. $125 $25,000 Transfer Fee Promo none
Disnat Disnat is offering up to $150 to cover the cost of transfer fees from another institution. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $150 $50,000 Disnat $300 Commission Credit Promo March 31, 2014
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Discount Brokerage Deals & Promotions – December 2013

*Updated 12/27/13*

It had to happen sometime – Questrade has now become the first Canadian discount brokerage to offer a Boxing Day promotion.  The deal being offered is 25 commission-free trades that do not expire until the end of 2014 for a minimum deposit of $25,000.  Like any good Boxing Day deal, this offer is set to expire on January 2nd, 2014 which doesn’t give folks a lot of time to act if they’re interested. This offer now directly competes with RBC Direct Investing’s most recent 25 commission-free trade offer.  For more information on the latest Questrade deal, see the table below.

*Updated 12/12/13*

Hot off the heels of Black Friday, many folks are still in deal hunting mode.  For those shopping for a discount brokerage account, fear not as there are still some decent deals to be found.  While some deals were announced at the middle of last month, two very big deal extensions are a part of this month’s discount broker deal offers.

Expired Deals

The deals that have officially expired as of the end of November are:

  • Scotia iTrade’s $150 Cash Back Offer

Pending Deals

[Update 12/12/13: Scotia iTrade has updated their website terms and conditions for these deals both of which are now in the extended deals section]

This is a new status of deal which reflects the fact that deals are still appearing on the discount broker’s website at the time of publication however the terms and conditions information states that the deals are technically expired.  These will be reviewed again within the week to see whether they are going to be renewed.  The deals currently ‘pending’ are:

  • Scotia iTrade’s Refer-a-Friend Offer
  • Scotia iTrade’s Flight Desk Offer

 

Extended Deals

Some good news for deal hunters is that a pair of deals from Questrade and RBC Direct Investing have been extended. Questrade has extended its 100 commission free trade offer until the beginning of March 2014 whereas the deal for 25 commission-free trades from RBC Direct Investing has been extended out until further notice.

The deals that have been extended are:

  • RBC Direct Investing’s 25 Commission Free Trade Offer
  • Questrade’s 100 Commission-Free Trade Offer
  • Scotia iTrade’s 100 Commission-Free Trade Offer
  • Scotia iTrade’s Refer-a-Friend Offer

New Deals

[Update 12/27/13: Questrade has launched a boxing day promotion where individuals opening a new account with Questrade and depositing $25,000 can receive 25 commission-free trades which are good for use for all of 2014. This deal is a limited time offer with an expiry date of January 2, 2014. ]

Although technically not a new deal, the Questrade iPad mini or $250 cash back offer is being included in the list of deals. Previously a similar offer was part of a ‘contest’ and not a stand-alone deal which is why it was not listed. In addition, TD Direct Investing revived its 50 commission-free trade offer in the middle of last month. That deal expires on December 20th for those who might be interested in opening a TD Direct Investing account before the end of 2013.

As always if there are any new deals you hear of or if there’s any that have been missed, drop us a note here.

Special Offer [Sponsored]

From now until December 15th, financial research firm Dalbar is collecting feedback from Canadian investors on the financial statements they receive from their financial/investment service providers. They are offering a $5 gift card from Starbucks/Tim Hortons for completion of their survey (~15-20 mins). For full details, click here.

Discount Brokerage Deals

Company Brief Description Minimum Deposit Amount Commission/Cash Offer Type Time Limit to Use Commission/Cash Offer Details Link Deadline
Jitney Trade A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform. n/a Discounted Commission Rates none For more details click here none
Open a new trading account with HSBC InvestDirect and receive 50 commission-free trades good for use up to 60 days after account opening. n/a 50 commission-free trades 60 days For more details on the free trade offer read the terms and conditions and also the frequently asked questions December 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc $1,000 $50 commission credit none none none
Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account. $1,000 $50 commission credit (friend) $100 commission credit (referrer bonus) 60 days Refer a friend none
Open a new account (TFSA, Margin or RRSP) by March 1 2014 A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code QT100 must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information. A)$1,000 B)$10,000 A)10 free trades B)100 free trades 60 days 100 commission-free trades March 1, 2014
Open a new account with TD Direct Investing before December 20, 2013 and deposit either A)$5,000 to $24,999 B)$25,000 to $49,999 or C)$50,000 or more to receive commission credits for A) 3 trades, B)10 trades or C) 50 trades. Be sure to read the details about keeping your account balance at qualifying levels, eServices subscription as well as other terms and conditions. A)$5,000 B)$25,000 C)$50,000+ A) 3 Trades (max value $87) commission credit B) 10 trades (max value $290) commission credit C) 50 trades (max value $500) commission credit Must use trades by 4pm (E.T.) February 28, 2014 50 Free Trades Offer December 20, 2013
Scotia iTrade If you refer a friend/family member who is not already a Scotia iTrade account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members’ contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link. A)$10,000 B)$50,000+ A) You(referrer): $50 or 10 free trades; Your “Friend”: $50 or 10 free trades (max total value:$99.90) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $499.50) 60 days Refer A Friend to Scotia iTrade December 31, 2013
Scotia iTrade Open and fund a new Scotia iTRADE account with at least $25,000 before March 31, 2014 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions. $25,000 100 commission-free trades ($999 value @ $9.99 commission rate) 60 days Scotia iTrade 100 free trades + FlightDesk March 31, 2014
Open a new account at Questrade by January 2, 2014 and fund it with a minimum of $25,000 to receive 25 commission-free trades which can be used throughout 2014. Use offer code BOXING13 when signing up for the account to qualify. Be sure to read the terms and conditions associated with this offer for more details. $25,000 25 commission-free trades End of 2014 Questrade Boxing Day Promo January 2, 2014
Open and fund a new account with $25,000 or more and you will qualify for 25 free trades. The offer code changed with different visits to the site, so click through the RBC Direct Investing homepage to generate a valid code. There are a number of terms and conditions attached to this offer, be sure to read see the details link. $25,000 25 commission-free trades (no restriction on commission rate listed) 365 days 25 Free Trades Offer Terms & Conditions ; To generate an offer code, click here none
Disnat Disnat isoffering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $50,000 $300 commission credit 6 months Disnat $300 Commission Credit Promo December 31, 2013
BMO InvestorLine Open a new account or upgrade an existing account with A) $50,000 or more OR B)$100,000 or more and receive either A)250 commission-free mobile-placed trades OR B) 250 commission-free mobile-placed trades + $250 cash back. Use Promo Code: MOBILE when signing up to qualify. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully. A) $50,000 B)$100,000 A) 250 commission free mobile-placed trades B) 250 commission free mobile-placed trades + $250 Cash Back Payout occurs after 6 months Free Mobile Trading/Cash Back Offer January 6, 2014
BMO InvestorLine If you refer a new client to BMO InvestorLine and they open an account with a)$50,000 – $249,999 or b)$250,000+ the referrer and the referee will both receive cash. The new account must be opened with the referral code specific to the referrer. A) $50,000 – $249,000 B) $250,000+ A) You(referrer): $200; Your Friend(referee): $50 B) You(referrer): $300; Your Friend: $100 Payout occurs after 60 days (subject to conditions). Refer-a-Friend terms and conditions can be located by logging into the InvestorLine panel under “account services” or by contacting BMO InvestorLine directly December 31, 2013
Open a new account or transfer new assets of $100,000 or more and choose between receiving either a)A 16GB iPad Mini or B)$250 cash back. Be sure to choose the appropriate code (IPADMINIW13 for the iPad Mini and CASH250W13 for the cash back offer) for each offer. There are several important conditions so be sure to read the terms and conditions for this offer. $100,000 A) iPad Mini (16 GB) [~$270-320 value] B) $250 Cash Payout/iPad delivery occurs after 30 days. iPad Mini or $250 Cash Back March 1, 2013


Transfer Fee Deals

Company Brief Description Maximum Transfer Fee Coverage Amount Deposit Amount for Transfer Fee Eligibility Details Link Deadline
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150. $150 $25,000 Transfer Fee Promo none
Transfer $25,000 or more to TD Direct Investing and they will pay up to $150 in transfer fees $150 $25,000 50 Free Trades Offer December 20, 2013
Transfer $25,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees $135 $25,000 Transfer Fee Rebate Details none
Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees $135 $25,000 Transfer Fee Rebate none
Qtrade Investor Qtrade Investor will reimburse your transfer fee up to $125 when transferring a balance of $25,000 or more. For reimbursement, please mail or fax a copy of your statement from the transferring institution that shows the transfer charge to Qtrade Investor at 604.484.2627 and indicate your Qtrade Investor account number. $125 $25,000 Transfer Fee Promo none
Disnat Disnat is offering up to $150 to cover the cost of transfer fees from another institution. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. $150 $50,000 Disnat $300 Commission Credit Promo December 31st, 2013
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Discount Brokerage Weekly Roundup – November 8, 2013

The big news everywhere this week was the Twitter IPO.  For many individual investors, accessing the Twitter IPO ahead of public trading meant having to meet specific account requirements laid out by their discount brokerages.  Once TWTR did go live though, the frenzy of buyers helped to propel the opening day price up from $26 to as high as $55.

In a tribute to the debut of TWTR, this week’s roundup will feature discount brokerage news gathered from Twitter.

Financial Literacy Month (#FLM2013)

November (or “Know”vember) is Financial Literacy Month. A couple of discount brokerages are helping to spread awareness and connect investors to educational resources. Parent accounts of National Bank Direct Brokerage (@nationalbank) and Disnat (@DesjardinsGroup) shared the following on their feeds this week:

National Bank Direct Brokerage Tweet

Disnat Tweet

For those interested in following events and information related to financial literacy month on Twitter, keep track of #FLM2013.

 

#BMO InvestorLine in the Globe and Mail

A piece by the Globe and Mail’s Rob Carrick (@rcarrick)on the adviceDirect product from BMO Investorline got tweeted by the @BMO media team.  Interestingly while the article provides a balanced perspective on some of the merits and drawbacks of adviceDirect, the comments section has some very strong opinions on why adviceDirect seems like it is missing the mark with investors.

BMO Investorline tweet about adviceDirect

 

Finally, to stay on top of all of the discount brokerages on Twitter, you can access our discount brokerage Twitter channel.

From the Forums

Twitter also had made quite the splash on the Canadian investor forums.  In particular, the RedFlagDeals.com investor forum saw a rather large spike in activity around the launch of TWTR this week.  Aside from the Twitter hoopla though, there were also a pair of interesting threads on discount brokerages, specifically on Canadian Money Forum.

Questrade vs Interactive Brokers

In this first post, a new investor is looking to become more active and is wondering whether a platform geared towards active traders, such as Interactive Brokers, is a better choice overall than another low cost option, Questrade.  Fellow investors weighed in to provide some important tips.

Questrade vs. Interactive Brokers

Switching to TD Waterhouse (TD Direct Investing)

Questrade was also the focus of a different investor’s decision making.  In this post, an investor was trying to weigh the pros and cons of having their investment accounts at the same place they do their daily banking (TD), even if it means paying slightly more on commissions.  Hear what the community had to say about the potential move.

TD Waterhouse vs Questrade

That’s it for this week. #TGIF!

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Discount Brokerage Deals & Promotions – November 2013

*Updated Nov. 18th 2013*

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

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

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

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

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

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

Expired Deals:

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

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

Extended Deals:

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

New Deals:

No new deals announced yet.

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

Discount Brokerage Deals

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


Transfer Fee Deals

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

Best Online Brokerage is Kind of a Big DealComing into the home stretch of October, equity markets are continuing push higher.  The constant string of ‘good news’ is something that may lure more investors back into the markets, which is also probably why there are some major initial public offerings (IPOs) also being announced.

Against the backdrop of optimistic markets, some discount brokerages also got some news to cheer about.  This past week, a discount brokerage launched its new mobile website, one more “best online brokerage” was crowned and there was some interesting chatter in the investing forums about keeping cash ready in a trading account and what can go wrong if it it’s in short supply.

Disnat’s New Mobile Site Ready to Roll

Canadian discount brokerage Disnat officially rolled out their new mobile website (available at m.disnat.com). The new site offers quite a substantial upgrade over their previous mobile website (reviewed here).  There are quotes and market updates available directly on the front end (without having to login).  There’s also access to videos and event info so the mobile site offers some of the core features of the full site.  Look out for the updated mobile website review coming soon.

Disnat new mobile website

The Best Online Brokerage – For Now

BMO InvestorLine announced this past week that they had been awarded  the title of “best online brokerage” in the 2013 Q3 evaluation by Surviscor.  BMO InvestorLine managed to edge out competitors Qtrade and Scotia iTrade by 3% landing a score of 84% overall versus Qtrade and Scotia iTrade who both scored 81%.  The winner of the Q1 2013 evaluation period, Scotia iTrade, enjoyed a brief stay atop the discount brokerage field however as these results show, the industry is highly dynamic and the best discount brokerage today might not still be the best tomorrow.

 Around the Forums

A popular idiom among traders is ‘keeping some powder dry’.  This refers to having some cash on hand so that if or when an investing opportunity presents itself, there is a way to take advantage of it instead of having to watch it go by. Cash in the account seemed to be the theme with two interesting posts about discount brokerage accounts this week.

Hurry up and wait

In the first of two threads from Canadian Money Forum,  user “Peterk” was feeling a little restrained from the delay of moving money between bank accounts into brokerage accounts.   Sometimes the delay could be a good thing, however in markets timing is half the battle.  Check out what fellow users had to say about it here.

Keeping cash in a discount brokerage account

Feeling marginalized

So what does happen when cash isn’t available in the trading account when one wants to make a purchase? Well if the account is a margin account, the transaction may still take place but it will be made ‘on credit’ i.e. on margin.  In the following thread, Scotia iTrade caught a bit of heat from forum user “mrcheap” after this user was apparently dinged for margin interest while cash was en route from a yet-to-be-settled trade.  It’s a valuable lesson to investors that they have to pay attention to the settlement dates (usually T + 3 for stocks) between execution and settlement.

Margin interest charged between trade and settlement

That’s it for this week’s roundup.  Keep on your toes because while the markets might seem like a treat today, there’s still a good chance it has some tricks up its sleeve. Have a safe and enjoyable weekend and most of all stay classy!