Desjardins Online Brokerage – Page 27

Posted on October 1, 2013 by user — Leave a comment

J.D. Power & Associates Canadian Discount Brokerage Rankings 2013 – Part 1

For Canada’s discount brokerages, fall not only means a busier season with investors, but for many of them it is also the time of year they either dread or cheer. The stretch of time between September and January is typically when a number of Canadian discount brokerage rankings get published – something that could be known as “rankings season.”

Just before the end of September, one of the biggest of the ranking companies, J.D. Power & Associates, officially announced their 2013 Canadian Discount Brokerage Rankings. This year’s winner, National Bank Direct Brokerage, finally managed to grab first place by narrowly edging out the reigning winner for the past four years, Disnat who came in second and BMO InvestorLine who placed third.

In the first of a two-part series on the 2013 J.D. Power & Associates discount brokerage rankings, I’ll take an in-depth look at this year’s award winner, how they managed to land in first and what the ripple effect of their win might mean for self-directed investors as well as the Canadian discount brokerage industry as a whole. The second part in the series will drill down into the numbers from this year to see what they reveal about the sentiment of investor satisfaction with discount brokerages and how it has shifted relative to prior years.

For those of you interested in learning more about the awards are produced, check out the special series on the JD Power & Associates Canadian discount brokerage rankings.

How “The Best” Was Won

Getting to number 1 has been a story of persistence for National Bank Direct Brokerage (NBDB). Over the past 5 years, NBDB has consistently scored among the top three Canadian discount brokerages in terms of investor satisfaction yet first place was always elusive. This year, however, NBDB scored 757 (out of 1000) and narrowly managed to edge out the reigning winner Disnat (who scored 750) by 7 points. While the margin is small, a victory is still a victory.

For NBDB the win is a sign that they continue to hit the right notes with their clients in terms of providing an experience clients feel is satisfying – the metric the ‘investor satisfaction’ survey is designed to measure. As is explained in the special series on the discount brokerage rankings, what goes into measuring “investor satisfaction” might help account for why NBDB was able edge out Disnat this year. Fortunately, the President of National Bank Direct Brokerage, Nancy Paquet, helped to provide some background into what might have contributed to her firm’s win this year. As a bonus, she also shared her views on the Canadian discount brokerage industry and provided a glimpse into how this industry continues to meet the challenges of innovation demanded by clients and competitors.

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Posted on October 1, 2013 by user — Leave a comment

Discount Brokerage Deals & Promotions – October 2013

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

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

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

Expired Discount Brokerage Deals:

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

Extended Discount Brokerage Deals:

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

New Discount Brokerage Deals:

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

Deal Analytics

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

Commission-Free Trading Offers

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

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

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

Deal Analytics

Commission-Free Trading & Commission Credit Offers	#colspan#	#colspan#	#colspan#	#colspan#	#colspan#	#colspan#
	Deposit Amount	#colspan#	#colspan#	#colspan#	#colspan#	#colspan#
#rowspan#	Not Required	$1000	$10,000	$25,000	$50,000	$100,000
					250 (60d)	250 (60d)+
					[10-60] (180d) CR:$300
	50 (60d)

		1. 10 (60d) 2. [5-10] (no expiry) CR:$50	100 (60d)	unlimited trades (30d)
				25 (365d)
				100 (60d)

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
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
If you refer a friend/family member who is not already a Scotia iTrade account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members’ contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link.	A)$10,000 B)$50,000+	A) You(referrer): $50 or 10 free trades; Your “Friend”: $50 or 10 free trades (max total value:$99.90) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $499.50)	60 days	Refer A Friend to Scotia iTrade	October 31, 2013
Open and fund a new Scotia iTRADE account with at least $25,000 before November 25, 2013 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions.	$25,000	100 commission-free trades ($999 value @ $9.99 commission rate)	60 days	Scotia iTrade 100 free trades + FlightDesk	November 25, 2013
Open and fund a new account with $25,000 or more and you will qualify for 25 free trades. The offer code changed with different visits to the site, so click through the RBC Direct Investing homepage to generate a valid code. There are a number of terms and conditions attached to this offer, be sure to read see the details link.	$25,000	25 commission-free trades (no restriction on commission rate listed)	365 Days	25 Free Trades Offer Terms & Conditions ; To generate an offer code, go to the main site and click the ad for the offer here	November 30, 2013
Open a new account with National Bank Direct Brokerage before Oct. 31st and the commission rate for equity transactions will be fixed at $6.95 for 6 months. Use promo code: EVENT2013. Since this is unadvertised, you’ll have to call their customer service line: 1-800-363-3511 for full details.	$25,000	$6.95 fixed commission rate for 6 months	6 months	Click here for a low-res version of flyer or here for a high-res version.	October 31, 2013
If you refer a friend/family member who is not already a National Bank Direct Brokerage account holder to them, both you and your friend get a bonus of $100 each. The promotion code “FRIEND” must be used on the account application form. Read the details link for full terms and conditions. Note the maximum referral bonus per client is $1000.	$25,000	$100 referral bonus (referrer) $100 referee (your “friend”)	Payout occurs after 6 months	Share $200 with a Friend Promotion	October 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive 30 days of commission-free trading and one month free of the US Advanced market data package. Use promo code ADVANTAGE13 when signing up. Offer is open to new clients only. There are a number of important conditions to qualify – be sure to read terms and conditions to the deal.	$25,000	30 days unlimited commission-free trading + 1 month free Advanced US market data package.	30 days	Advantage Promotion	October 31, 2013
Disnat 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
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
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 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

Brief Description	Maximum Transfer Fee Coverage Amount	Deposit Amount for Transfer Fee Eligibility	Details Link	Deadline
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150.	$150	$25,000	Transfer Fee Promo	none
Transfer $25,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees	$135	$25,000	Transfer Fee Rebate Details	none
Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees	$135	$25,000	Transfer Fee Rebate	none
Qtrade Investor 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 31st, 2013

Posted on September 27, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup – September 27, 2013

As hard as it is to believe, September is almost over and with it there was some major news this past week in the discount brokerage space. In this edition of the roundup, I look at the big news in discount brokerage rankings that was announced earlier in the week as well as highlight what month end means for some deals. Also included in the roundup are some interesting events spotted taking place at a major brokerage and some informative posts in the investor forums.

Another Best Online Discount Brokerage Announced

Earlier this week JD Power & Associates released the results from their annual investor satisfaction survey and the discount brokerage rankings that go with them. This year’s winner was National Bank Direct Brokerage who narrowly edged out the reigning winner Disnat. Some highlights from this year’s investor satisfaction survey were that the overall average satisfaction for the Canadian discount brokerage industry rose to 724 (out of 1000) up from 700 a year earlier. While the rankings did cover most of the Canadian discount brokerages, there were a couple of popular brokerages (Virtual Brokers, Credential Direct and Interactive Brokers) that just didn’t have enough of a sample to be included.

To learn more about how the JD Power & Associates discount brokerage rankings work, check out the special series explaining this award. Also coming up shortly is an in-depth look at the award results for 2013 as well as commentary from National Bank Direct Brokerage on the win.

So You Think You Can Trade?

National Bank Direct Brokerage has also been busy on the contest front. In partnership with Horizons Exchange Traded Funds, National Bank Direct Brokerage is sponsoring the Horizons ETFs Biggest Winner Contest. The simulated ETF trading competition awards cash prizes to those whose ETF portfolios outperform other competitors. The contest has a grand prize of $7500, second prize of $2500.00 and weekly prizes of $500. The competition starts on October 7^th, 2013 and runs until November 15th. For more information about the competition check this link.

Guess Who’s Back?

Earlier this week, one of the major bank-owned discount brokerages, RBC Direct Investing, revived their investor education seminar series by holding some introductory sessions at their investor centers in Vancouver and Toronto. This article goes over what the event was like and what attendees can expect if they wish to attend.

What’s the Deal?

As we near the end of the month there a couple of discount brokerage deals are set to expire. Scotia iTrade’s “Refer-a-Friend” offer is scheduled to expire at the end of September however on several occasions in the past this has been extended at the beginning of the next month.

Another notable deal expiring at the end of September is BMO InvestorLine’s Air Miles/$250 cash back offer. With the recent launch of deals by RBC Direct Investing, HSBC InvestDirect and the extensions of deals by a number of other brokerages earlier in the month, it will be interesting to see what BMO InvestorLine decides to roll out through next week as this is their major promotional offer currently being advertised. Although it was originally set to expire in early September, the expiry date for the “AirMiles/Cash Back” deal got pushed out until the end of the month so it will be interesting to spot what, if any deals will be announced.

Unhappy (Divid)Ending

In the RedFlagDeals forums this past week there was an interesting post spotted that discussed how dividends are treated while trading on margin. Specifically, the answer to the following post by user Mark77 indicates that rules about where a dividend originates can determine how they get classified.

Posted on September 1, 2013 by user — Leave a comment

Discount Brokerage Deals & Promotions – September 2013

Updated Sept. 20/13

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

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

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

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

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

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

Expired Discount Brokerage Deals:

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

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

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

Extended Discount Brokerage Deals:

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

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

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

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

(Update 9/9/13) A 25 free trade deal from RBC Direct Investing has been advertised on their website; included as part of the offer is a transfer fee promo
(Update 9/20/13) HSBC InvestDirect is offering 50 free trades to new clients
(Update 9/20/13) Scotia iTrade has announced a $150 cash back offer for new or existing clients making a $100,000 deposit

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
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
If you refer a friend/family member who is not already a Scotia iTrade account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members’ contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link.	A)$10,000 B)$50,000+	A) You(referrer): $50 or 10 free trades; Your “Friend”: $50 or 10 free trades (max total value:$99.90) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $499.50)	60 days	Refer A Friend to Scotia iTrade	September 30, 2013
Open and fund a new Scotia iTRADE account with at least $25,000 before November 25, 2013 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions.	$25,000	100 commission-free trades ($999 value @ $9.99 commission rate)	60 days	Scotia iTrade 100 free trades + FlightDesk	November 25, 2013
Open and fund a new account with $25,000 or more and you will qualify for 25 free trades. The offer code changed with different visits to the site, so click through the RBC Direct Investing homepage to generate a valid code. There are a number of terms and conditions attached to this offer, be sure to read see the details link.	$25,000	25 commission-free trades (no restriction on commission rate listed)	365 Days	25 Free Trades Offer Terms & Conditions ; To generate an offer code, go to the main site and click the ad for the offer here	November 30, 2013
Open a new account with National Bank Direct Brokerage before Oct. 31st and the commission rate for equity transactions will be fixed at $6.95 for 6 months. Use promo code: EVENT2013. Since this is unadvertised, you’ll have to call their customer service line: 1-800-363-3511 for full details.	$25,000	$6.95 fixed commission rate for 6 months	6 months	Click here for a low-res version of flyer or here for a high-res version.	October 31, 2013
If you refer a friend/family member who is not already a National Bank Direct Brokerage account holder to them, both you and your friend get a bonus of $100 each. The promotion code “FRIEND” must be used on the account application form. Read the details link for full terms and conditions. Note the maximum referral bonus per client is $1000.	$25,000	$100 referral bonus (referrer) $100 referee (your “friend”)	Payout occurs after 6 months	Share $200 with a Friend Promotion	October 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive 30 days of commission-free trading and one month free of the US Advanced market data package. Use promo code ADVANTAGE13 when signing up. Offer is open to new clients only. There are a number of important conditions to qualify – be sure to read terms and conditions to the deal.	$25,000	30 days unlimited commission-free trading + 1 month free Advanced US market data package.	30 days	Advantage Promotion	October 31, 2013
Disnat 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
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 upgrade an existing account with $100,000 and choose to receive either $250 cash back or 2000 Air Miles. Use Promo Code: BONUS250 to receive the cash back offer or BONUSAM (+ Air Miles Collector #) to receive the Air Miles offer. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully.	$100,000	$250 Cash Back OR 2000 Air Miles	Payout occurs after 6 months	Air Miles Promotion	September 30, 2013
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

Brief Description	Maximum Transfer Fee Coverage Amount	Deposit Amount for Transfer Fee Eligibility	Details Link	Deadline
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150.	$150	$25,000	Transfer Fee Promo	none
Transfer $25,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees	$135	$25,000	Transfer Fee Rebate Details	none
Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees	$135	$25,000	Transfer Fee Rebate	none
Qtrade Investor 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 31st, 2013

Posted on August 30, 2013 by user — Leave a comment

Discount Broker Weekly Roundup – August 30 2013

If Yoda were watching the discount broker activity this past week, he’d probably say: ‘a slow news week this was not’. Going into the long weekend there’s quite a bit of activity to report from Canadian discount brokers.

In this week’s discount broker roundup we look at the big news coming out of a major player in the Canadian discount brokerage industry, an extension of a commission-free ETF trading offer, whether social media matters to investors and an upcoming educational event of interest to options traders.

Interactive Brokers Canada Gets a Bit More Canadian, Eh?

In what feels like one of those big, end of season plot twists, the discount broker landscape in Canada underwent another seismic shift this past week when Interactive Brokers Canada announced to its customers via email that starting in mid-September, they are going to transition their clearing operations from the US to Canada. Several Canadian investor forums were alight with speculation as to what this move means and whether Interactive Brokers Canada is paving the way to offer registered accounts, something that would definitely rattle more than few nerves with their competitors. This post (thanks to ‘Mark77’ for posting the message) has an interesting glimpse of what the Interactive Brokers Canada move might mean.

For now though, shifting their back office operations to Canada instead of through their US affiliate means, most importantly, that the pattern day trading rule will be removed and that margin requirements can, in theory, be eased. This is definitely great news for active traders (especially those with less than $25,000 in their trading accounts).

For other interesting perspectives on the Interactive Brokers Canada announcement, here are links to forum posts discussing it:

Canadian Money Forum

Interactive Brokers Canada (IB Canada)

Financial Webring

Pattern Daytrader Rule gone from Interactive Brokers Canada

RedFlagDeals:

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Posted on August 23, 2013 by user — Leave a comment

Online Discount Brokerage Weekly Roundup – August 23 2013

As September draws nearer, Canadian discount brokers are polishing up their websites and marketing campaigns to get ready for the increased activity in the stock markets that tends to happen at the end of the year. This past week, there have been some notable updates in the homepages and advertising campaigns of a couple of Canadian discount brokers. In addition to the discount broker activity picking up, forum activity has also continued to increase and I highlight a post about regulations investors should know about when considering non-Canadian dividend paying stocks.

Getting Freshened Up

As summer winds down, self-directed investors begin to pay more attention to the stock markets as well as to online discount brokers. Ahead of this pickup in interest, several discount brokers have freshened up their homepages, key sections on their website and their marketing campaigns. The trend of upgrading was started a few weeks ago when National Bank Direct Brokerage’s website added a number of elements to its new homepage. This past week changes were spotted at RBC Direct Investing, Disnat and Qtrade.

Online Investing: Everybody’s Doing It

Following up on their campaigns comparing online investing to shoe shopping and vacation planning, RBC Direct Investing has launched another in the series of focusing on how “easy” online investing is (see screenshot below). In the latest iteration, the angle appears to be that everybody seems to be online these days so why not invest online while you’re there – that is, of course, if you can tear yourself away from Facebook and Twitter long enough to spend time researching.

Taking a Friendlier Approach

Qtrade’s discount brokerage homepage also got a bit of a touch up recently with the stern looking investor fellow being switched out in favour of a much friendlier set of images of people having fun (see screenshot below) and the best online broker awards that Qtrade Investor has received. With the Globe and Mail online brokerage awards around the corner, Qtrade’s previous accolades in this area are highlighted front and center and are likely to be a topic of conversation again when the reviews come out later this fall.

The Colour of Money

Disnat’s long running $300 commission credit offer got a bit of a paint job recently. The new ad (see screenshot below) has a multi-coloured ‘gift card’ feel to it and almost makes the term ‘commission’ seem a little more fun than it should – almost.

Investor Forum Chatter

Slowly but surely investors are coming back to the investing forums with lots of interesting questions, experiences and ideas to share. This week there were several conversations that dealt with dividends from US stocks/ETFs the confusion that arises from withholding taxes.

Although it doesn’t go into all of the rules/regulations behind receiving dividends from foreign sources, the following thread started by ‘SandsofTime’ on the RedFlagDeals’ forum asks about a W8-BEN form at Questrade and it highlights some important points for investors to keep in mind when considering non-Canadian dividend paying stocks. Another older article by the Globe and Mail here provides additional information on the subject.

That’s it for this week’s discount broker round up. Have a great weekend!

Posted on August 9, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup – August 9, 2013

This week’s discount brokerage roundup will be short and sweet as we continue to cruise through August. In this roundup, a major US discount brokerage comes under fire for how it handled client orders, the mobile trading landscape gets a little clearer for some investors and a little bumpier for others and lastly the marketing machinery looks to be heating up ahead of September with discount brokerages getting creative.

Going with the flow?

One the major discount brokerages in the US, E*trade Financial, caught a bit of flak from investors as it quietly announced that it was under investigation from the Financial Industry Regulatory Authority (FINRA) for how E*Trade has been routing customer orders. For some good context and explanation, check out this article form Businessweek.

Mobile Trading Reviews Get Rolling

This past week saw the launch of the profiles on mobile trading platforms offered by Canadian discount brokerages. The two discount brokerages covered this week were Disnat (with the Disnat Classic platform) and National Bank Direct Brokerage. Click the following link to follow the series on mobile trading at discount brokerages.

Coincidentally, RBC’s latest mobile app was launched earlier this week however it looks as though some Blackberry users have had a few hiccups in working with the new app. Reactions across Twitter were mixed but it looks like iPhone users are pleased with the new version.

“Ad”ing some creativity

The discount brokerage marketing machinery looks like its revving itself up. This cheeky advertisement from Interactive Brokers recently launched and is a bit of a departure from their cartoony ads from years past:

In addition to commercials, several Canadian discount brokerages are pitching in as sponsors for Options Education Days presented by the Montreal Exchange. Spotted on the list of event sponsors in Montreal & Toronto are:

CIBC Investor’s Edge
Disnat
Interactive Brokers
National Bank Direct Brokerage
TD Direct Investing
Virtual Brokers

To learn more about their options pricing plans, check out the options pricing comparison section.

That’s it for this week, hope everyone has a wonderful and safe weekend!

Posted on August 7, 2013 by user — Leave a comment

Mobile Trading Review – Disnat Classic

This review covers the mobile trading website (m.disnat.com) for Disnat Classic as tested on an iPhone 4s with a 3G internet connection and a demo trading account. To access the video review, click on the video player below.

Disnat offers several different account types for investors of different activity levels. Disnat Classic is typically for less active investors whereas their Disnat Direct offerings are geared towards active traders.

As it is a mobile website, Disnat Classic’s mobile trading platform is lightweight and performs well in terms of loading speed and executing requests. The biggest constraint on speed is really the internet connection. With an iPhone 4s and a less than full 3G connection, load times for pages were acceptable.

Trader’s Lens Webcast – Episode 2: Disnat Classic Mobile Website Review

My overall impression of the Disnat Classic mobile website is that it is definitely functional and intuitive to navigate. It handled order entry, account information look-ups and quote fetching well. The text links were a more descriptive choice than just using icons alone to navigate and the menus at the bottom of each screen made navigating between sections of the mobile site very easy.

There was, however, room for improvement in the research, support and options trading areas.

While the information was able to be retrieved quickly, there were pieces of information that would have been more useful when looking up a stock quote for example. Items such as multi-timeframe charts or extra information on a company (fundamental and/or technical) are helpful to have when making decisions around entering or exiting a trade. Also missing from the mobile trading area of the website was a help/contact us link which would be very helpful for supporting new users.

As such, the Disnat Classic mobile website tool is much stronger at managing existing positions and monitoring accounts than it is at conducting research or opening new positions (especially options positions). Users can expect a nimble site that has essential features, intuitive choices and fast load times however the current site doesn’t offer many of the extra features present on several other discount brokerages’ sites.

To learn more about Disnat’s mobile platform, you can check out their page here.

Posted on August 7, 2013 by user — Leave a comment

Mobile Trading Reviews – Discount Brokerages’ Mobile Platforms

The term “mobile trading” doesn’t mean the same thing today that it did a few years ago. As little as 5 years ago, the notion of trading on the go would have typically been thought of as something you would do with your laptop, palm trees swaying in the background. Today, however, an entirely new reality around mobile trading has emerged. Smartphones, superphones, phablets and tablets have, for the time being, come to define what it means to truly do anything mobile.

Instead of the fabled island escape where an investor could sit on the beach to trade, today’s mobile investor wants to be able to be able to trade with one device amidst the realities of a busy life. With sufficiently powerful devices and increasingly fast wireless internet, the ingredients for supporting the new kind of mobile trading are now here. Whether discount brokerages have kept pace is another story.

Keeping up with the technological Jones’

For investors considering making mobile trading part of their money management lifestyle looking at the mobile trading platforms available from discount brokerages provides an almost evolutionary snapshot of the attempts (or lack thereof) of discount brokerages to keep pace with technology and consumer trends.

At last count, 10 Canadian discount brokerages offered some kind of mobile support ranging from the ‘mobile-friendly’ websites which were built to make trading accessible to early phone-based web browsers to the latest dedicated apps for the most popular devices and mobile operating systems. Unlike 5 years ago, those brokerages that don’t support mobile trading in some dedicated fashion are now in the minority.

To help self-directed investors make sense of the mobile trading experience, we’ve put together a series of reviews of the mobile trading platforms offered by several discount brokerages. These reviews will walk through the app itself and provide viewers with an impression of the mobile platform’s user experience when researching stocks, ETFs or options, obtaining quotes, placing a trade, managing accounts and accessing news.

To access the mobile trading reviews, click the links below:

Mobile trading review – Disnat Classic

Mobile trading review – National Bank Direct Brokerage

Mobile trading review – Qtrade Financial

Posted on August 1, 2013 by user — Leave a comment

Discount Brokerage Deals & Promotions – August 2013

August Discount Brokerage Deals Overview

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

Expired Discount Brokerage Deals

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

Extended Discount Brokerage Deals

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

New Discount Brokerage Deals

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

Discount Brokerage Deals & Promos

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
Open a new margin account with National Bank Direct Brokerage before August 31st 2013 and receive a 1% discount of prime for a margin interest rate. Also, commission rates will be fixed at $6.95 for 3 months. Be sure to read the terms and conditions as well as understand the risks associated with trading on margin. Use promo code: “MARGIN2013” when signing up.	n/a – while no minimum deposit is required, you must pass a credit check to qualify	1% of prime rate for margin borrowing $6.95 fixed commission rate for 3 months	Margin rate discount: 3 months Commission rate discount: 3 months	Click here for margin promo details and here for terms and conditions	August 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc	$1,000	$50 commission credit	none	none	none
Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account.	$1,000	$50 commission credit (friend) $100 commission credit (referrer bonus)	60 days	Refer a friend	none
Open a new account (TFSA, Margin or RRSP) by August 31st with A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code 100Free95 must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information.	A)$1,000 B)$10,000	A)10 free trades B)100 free trades	60 days	100 commission-free trades	August 31, 2013
Open and fund a new registered, margin or TFSA account and fund it within 30 days with either A)$10,000 B )$25,000 or C)$50,000 and you will be eligible to receive either unlimited free trading for A) 1 month, B) 2 months or C) 3 months depending on your deposit amounts. You must the code UNLIMITED to qualify. This is open to new and existing clients. There’s lots of fine print so be sure to read the details link.	A)$10,000 B)$25,000 C)$50,000	Unlimited trading (No commissions charged on any trades placed)	A) 31 days B) 62 days C) 90 days	Unlimited Free Trading Offer	August 31, 2013
If you refer a friend/family member who is not already a Scotia iTrade account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members’ contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link.	A)$10,000 B)$50,000+	A) You(referrer): $50 or 10 free trades; Your “Friend”: $50 or 10 free trades (max total value:$199.80) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $999)	60 days	Refer A Friend to Scotia iTrade	August 31, 2013
Open and fund a new Scotia iTRADE account with at least $25,000 before September 30, 2013 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions.	$25,000	100 commission-free trades ($999 value @ $9.99 commission rate)	60 days	Scotia iTrade 100 free trades + FlightDesk	September 30, 2013
Open a new account with National Bank Direct Brokerage before Oct. 31st and the commission rate for equity transactions will be fixed at $6.95 for 6 months. Use promo code: EVENT2013. Since this is unadvertised, you’ll have to call their customer service line: 1-800-363-3511 for full details.	$25,000	$6.95 fixed commission rate for 6 months	6 months	Click here for a low-res version of flyer or here for a high-res version.	October 31, 2013
If you refer a friend/family member who is not already a National Bank Direct Brokerage account holder to them, both you and your friend get a bonus of $100 each. The promotion code “FRIEND” must be used on the account application form. Read the details link for full terms and conditions. Note the maximum referral bonus per client is $1000.	$25,000	$100 referral bonus (referrer) $100 referee (your “friend”)	Payout occurs after 6 months	Share $200 with a Friend Promotion	October 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive 30 days of commission-free trading and one month free of the US Advanced market data package. Use promo code ADVANTAGE when signing up. Offer is open to new clients only. There are a number of important conditions to qualify – be sure to read terms and conditions to the deal.	$25,000	30 days unlimited commission-free trading + 1 month free Advanced US market data package.	30 days	Advantage Promotion	August 31, 2013
Disnat is celebrating its 30th anniversary by offering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat30. See details link for more info.	$50,000	$300 commission credit	6 months	Disnat 30th Anniversary Promo	August 30, 2013
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 upgrade an existing account with $100,000 and choose to receive either $250 cash back or 2000 Air Miles. Use Promo Code: BONUS250 to receive the cash back offer or BONUSAM (+ Air Miles Collector #) to receive the Air Miles offer. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully.	$100,000	$250 Cash Back OR 2000 Air Miles	Payout occurs after 6 months	Air Miles Promotion	September 4, 2013

Transfer Fee Deals

Brief Description	Maximum Transfer Fee Coverage Amount	Deposit Amount for Transfer Fee Eligibility	Details Link	Deadline
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150.	$150	$25,000	Transfer Fee Promo	none
Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees	$135	$25,000	Transfer Fee Rebate	none
Qtrade Investor 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 celebrating its 30th anniversary by offering up to $150 to cover the cost of transfer fees from another institution. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat30. See details link for more info.	$150	$50,000	Disnat 30th Anniversary Promo	August 30, 2013