HSBC InvestDirect – Page 18

Posted on November 22, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup – November 22 2013

Well when it rains in the discount brokerage world, it certainly pours. Fitting for November. This week’s roundup looks back on a busy week filled with a major discount brokerage ranking being released, a very cool (and geeky) way to learn about options pricing as well as a frenzy of conversation about discount brokerages from the forums. It’s a full card so this roundup is 2 pages long – be sure to check out the ending for some sage ‘market wisdom’ courtesy of Guns N’ Roses.

2013 Online Brokerage Rankings are here

After a lot anticipation, the 2013 Online Broker Rankings were finally released this past week by the Globe and Mail’s Rob Carrick. This year the online broker rankings went back to the ‘report card’ style evaluation of 12 Canadian discount brokerages, with each broker receiving letter grades rather than percentages. In line with the past few evaluations (learn more about the historical online brokerage rankings here) the key criteria being measured were:

Costs
Account Info
Trading
Tools
Innovation

While getting called a cheap option by one of Canada’s largest newspapers may not seem flattering, for a discount brokerage in the midst of a price war the label is a badge of honour. The brokerage with the best overall ranking (and ‘cheapest broker’) for 2013 was Virtual Brokers (overall grade: A) for the second year in a row. The first runner up was Qtrade (overall grade: B+).

Despite being tied for third with RBC Direct Investing and Scotia iTrade, BMO InvestorLine was described as “the best bank-owned” online brokerage (each of these bank-owned online brokerages scored a B overall). The media team at BMO published a release celebrating the claim. Incidentally, Questrade also received an overall grade of “B”. The worst overall score received this year was a “D” and it was given to HSBC InvestDirect along with some pointed remarks about their offering.

Some new features in this year’s online broker rankings included comparisons of current margin rates, forex rates and costs for trading certain amounts of stock at each broker. To read the online brokerage rankings, click here. Also, stay tuned for the in-depth analysis of this year’s Globe and Mail online broker rankings coming soon.

Pages: 1 2

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

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

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
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
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
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 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 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 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 October 4, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup – October 4 2013

It’s Friday once more and with it brings a whole slew of discount brokerage related news and activities. As the calendar rolled over into a new month, there was the usual hubbub with new deals being offered and updated by some major discount brokerages. This past week also saw one major Canadian discount brokerage sponsor an investor education roadshow, and another celebrate a milestone birthday with a launch of some mobile trading platforms.

Deals Galore

In the October count of discount brokerage deals, there are more deals happening from major (bank owned) discount brokerages than have taken place in the recent past. Large discount brokerages such as RBC Direct Investing and HSBC InvestDirect that historically have been less visible with their promotions, are now offering some competitive deals.

To keep all of the deal action straight, there’s a new feature in the deals section called ‘deal analytics’. This section will take the deal info one step deeper to provide a quick way to digest all of the deal information. Stay tuned as this exciting feature will continue to evolve into an awesome tool for investors looking for a deal when opening a discount brokerage account.

Will That Be #ForHere or #ToGo?

BMO InvestorLine has had a pretty busy week. On Friday of last week, they officially turned 25 years old and like most 25 year olds, they are becoming obsessed with mobile phones. Earlier in the week BMO InvestorLine had a big focus on their new mobile trading apps/platforms by pairing their latest deal with the launch of their mobile platform. In one of the most unique promotions from a discount broker, BMO InvestorLine is offering 250 commission-free mobile trades (good for up to 2 months of trading). For those with opening balances of over $100,000 there is also a $250 cash back offer. Checkout the deals section for more information.

On the Road Again

One of the most recognizable figures on Canadian business television, Larry Berman, kicked off his 12 city cross country tour this past week in Calgary. These sessions will be promoting investor education, his investor education course and his company. One of the major discount brokerage sponsors of the event is Scotia iTrade. They’ve paired up with Larry Berman to provide the platform (FlightDesk) on which audience members can see Berman do his famous “Berman’s Call” style stock analysis in person. Look out for a review of the session that landed in Vancouver coming up shortly. To find out more information about the events, check out the schedule here.

Interactive Brokers Metrics

As they do every month, Interactive Brokers has released the latest set of trading activity statistics for September 2013 showing that on many of the key metrics, such as DARTs (daily average revenue trades), margin loans and number of accounts are all up well over last year at this point and incrementally up over last month. For the active trading segment of the market Interactive Brokers is definitely proving hard to catch and with recent changes to Interactive Brokers Canada, the same might become true on our side of the border.

That’s it for this week. With all that’s been going on in the news, this market is about to get far more interesting before it gets boring. Have a great weekend!

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.

Pages: 1 2 3

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 20, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup – September 20, 2013

Against the backdrop of smartphone maker drama, securities regulator announcements and US Federal Reserve tapering, Friday is finally here – and for some, it couldn’t come fast enough. While it was hard to compete with the headline grabbing billion dollar writedown or a sexy new operating system, Canadian discount brokers were busy making some big moves of their own.

In this week’s roundup, I look at a roll out of a new mobile website, two new deals that popped up and a couple of investor education events readers might be interested in.

A New Front

This past week, National Bank Direct Brokerage officially unveiled the new mobile website (www.m.nbdb.ca). For the most part, the mobile website improvement comes at the front-end where visitors can learn more about NBDB, access upcoming event information and do some market research. In fact, there is something very unique about the mobile website relative to other discount brokerages in that NBDB has provided access to research on markets and stock quotes without having to log in. This is very handy for anyone looking to get a quick update on market activity.

There is a review of their mobile website prior to the front-end upgrade which details what the experience is like after the login.

Deal Me In

Two new discount brokerage deals popped up on the radar this week. The appearance of this first deal, while a surprise, is not unexpected given the level of competition between discount brokerages.

HSBC InvestDirect, which has been quietly adding some promotional material to its homepage, finally posted its latest promotion on their website. They are offering new clients 50 free trades (valid for 60 days). What really sets this deal apart is that according to the deal terms and conditions, there is no deposit minimum. A nice touch is that the terms and conditions are fairly simple to understand and they have also provided a frequently asked questions document to go with the deal to explain it.

The second deal spotted this week comes from Scotia iTrade. In their latest offer, new or existing clients that fund their account with $100,000 or more can get $150 cash back. Cash-back offers have not been that popular except with bigger discount brokerages such as BMO InvestorLine, however new clients who sign up for this deal are also likely to be eligible for the 100 free trade offer.

To see how the new HSBC InvestDirect deal and the Scotia iTrade cash back offer stack up against other discount brokerages, click here.

Upcoming Events

This weekend many of Canada’s most popular personal finance bloggers, authors and enthusiasts will be in Toronto at the 3^rd annual Canadian Personal Finance Conference. If you are a fan of personal finance, you can learn about the conference here. If you want to tune into the buzz, check out the hashtag #CPFC13 or the Twitter feed below:
Tweets about “#CPFC13”

For those interested in learning about options trading or how options work, Options Education Day is coming to Toronto on September 28th. There is going to be a great lineup of speakers and several Canadian discount brokerages sponsoring the event will also be on hand. Check the event listing here for more information.
Finally, one more discount brokerage has decided to offer a free webinar on how to understand company reports. Credential Direct is hosting a free webinar (scheduled for October 3rd) put together by Morningstar Canada on how to understand company reports . For more information check out the event listing.

That wraps it up for this week’s roundup. Have a great and safe weekend and enjoy the last of the 2013 summer!

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 June 28, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup – June 28, 2013

It has been predictably quiet in the discount brokerage space this past week with many self-directed investors out enjoying summertime activities. Still, there are some updates on several discount brokerage promotions that are noteworthy as we head into July. Also, there are a couple of advertising/marketing stories that might be of interest for those keeping a closer eye on the industry.

Easy Come, Easy Go

The end of June is here and with it several discount brokerages are retiring some promotions. First, the Disnat SCATE promotion will end as of June 30^th. Also slated to expire at the end of June will be the 100 free trades offer from Scotia iTrade. For details on the discount brokerage deals, check out our deals page here.

Not all the deals and promotions originally supposed to expire at the end of June will come to an end though. It seems that Scotia iTrade and Questrade have had a change of heart about a couple of their respective promotions. Scotia iTrade’s “Refer-a-Friend” offer has been extended to July 31^st 2013 and Questrade also has extended its Advantage offer out to the end of August 2013.

Baby Not on Board

Even though it is not a Canadian discount brokerage, the news that the agency famous for bringing us the E*Trade baby is moving along signals a change in the times. Discount brokerages in the US spend hundreds of millions of dollars in advertising per year and it appears that E*Trade is making a move to lower these advertising costs. To read more about the story, click here.

Winning the Customer Service Game

Advertising also seems like it is on the mind of HSBC InvestDirect after their recent win of the Dalbar Direct Brokerage Service Award. We got what looks like a sneak peek at a promotional video that highlights what it took for the HSBC InvestDirect team to win this year.

Discount Brokerage Fees Still Matter

Last Friday’s article in the Globe and Mail ‘A primer on low-commission’ trading by Rob Carrick provided a quick overview of many discount brokerages’ fees. Both Virtual Brokers and Questrade stand out as low-fee choices however as we pointed out in the special series comparing these two discount brokerages to each other, the low-commission price may mask other fees, such as data or platform fees, that are required in order to fully take advantage of the low commission rates. An individual (named “Uss”) in the comments section of the article also made an interesting observation that Interactive Brokers wasn’t part of this low-commission rate primer although their rates are just as competitive at the lowest end of equity and option commission pricing currently available. Interactive Brokers has typically not been included in the annual online broker ratings that Rob Carrick publishes because they do not offer registered accounts and it would be safe to assume that is why they were not included in this primer either.

As a reminder for next week, Canadian stock exchanges will be closed on Monday July 1^st for Canada Day and U.S Markets will close early (1PM) on July 3^rd and will be closed all day July 4^th.

Hope you all have a safe and enjoyable Canada Day and long weekend!

Posted on June 14, 2013 by user — Leave a comment

Special Series: Dalbar Canada’s Direct Brokerage Service Award – Part 2

In part 1 of this series, we took a brief look at how self-directed investors typically access information about discount brokerage customer service and introduced Dalbar Canada’s research in this area. Specifically, Dalbar’s Direct Brokerage Sales Effectiveness (DBSE) program measures the performance of client service teams at discount brokerages.

In this part of our series, we take a closer look at the evaluation itself to see how Dalbar measures quality customer service, how the evaluations are conducted and what the implications are for self-directed investors when comparing customer service at discount brokerages.

Knowing what counts

Given the number of evaluations being conducted to try and find ‘the best’ Canadian discount brokerage, it is increasingly important that self-directed investors be clear on exactly how a measurement of a discount brokerage is structured. To avoid falling victim to clever marketing, whenever Canadian investors see a discount brokerage ranking, the following three questions are worth keeping in mind:

What is being measured (ranked)?
How was it measured?
Does the measure actually measure what it says it does?

In the case of Dalbar Canada’s Direct Brokerage Service Award, what is being measured is “quality” of the customer experience when interacting with a particular discount brokerage’s customer service agents. Of course, how “quality” is defined can be highly subjective so readers should keep this in mind when considering the explanations below.

Pages: 1 2 3 4