RBC Direct Investing – Page 34

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

Discount Brokerage Deals & Promotions – January 2014

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

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

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

Expired Deals

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

Pending Deals

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

Extended Deals

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

New Deals

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

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

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

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

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

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

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

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

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

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

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

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

Discount Brokerage Deals

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

Transfer Fee Deals

Brief Description	Maximum Transfer Fee Coverage Amount	Deposit Amount for Transfer Fee Eligibility	Details Link	Deadline
Transfer in $15,000 or more into an HSBC InvestDirect account from another institution, and HSBC will cover up to $150 of transfer fees per funded account.	$150	$15,000	HSBC InvestDirect Transfer Fee Promo	February 28, 2014
Transfer $15,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees	$135	$15,000	Transfer Fee Rebate Details	none
Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150.	$150	$25,000	Transfer Fee Promo	none
Virtual Brokers will cover transfer fees from your transferring institution to a maximum of $150 per account. This offer is only applicable to accounts opened with at least $25,000 in equity before March 31, 2014	$150	$25,000	Transfer Fee Promo	March 31, 2014
Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees	$135	$25,000	Transfer Fee Rebate	none
Qtrade Investor 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	March 31, 2014

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

Discount Brokerage Weekly Roundup – December 27 2013

Amongst Canadian discount brokerages, it was supposed to be a quiet ride into the end of 2013. Alas, it was not to be. With a Boxing Day promotion launched by one of Canada’s discount brokerages this past week, the competition for Canadian investors officially hit a new high. This bodes well for self-directed investors going into 2014 as both pricing and services can be expected to improve from discount brokerages looking to gain an edge on one another. In the final (and shortened) weekly roundup of 2013, we’ll take a look at this latest disruptive deal as well as some of the interesting chatter from investors around the forums and social media.

Questrade Throws a Jab by Offering up a Boxing Day Promotion

Discount brokerages and the holiday season have historically been a poor mix. Questrade, however, seems to have defied the unofficial tradition amongst discount brokerages to ‘take it easy’ by offering up a Boxing Day promotion. Specifically, Questrade announced on Boxing Day they are offering up 25 commission-free trades to new accounts depositing at least $25,000. Moreover those 25 trades are good for all of 2014. This deal takes aim at a similar offer from RBC Direct Investing, who for a short while, claimed that they were the only discount brokerage offering commission-free trades that lasted a year. Click here to learn more about the Questrade Boxing Day promotion.

From the Forums

While a lot of folks were out comparison shopping the latest TVs and tech toys this past week a handful of folks also were shopping around for discount brokerages. This week, there is a post that pitted broker vs broker that was of particular interest as well as a lesson one investor got away with learning on the cheap.

RBC Direct Investing vs TD Waterhouse (TD Direct Investing)

Up first was this post on Canadian Money Forum which was a lively debate on the strengths and limitations of a couple of bank owned discount brokerages.

Fat Finger Trades

Many active traders have at least one bad ‘fat finger’ trade story and can relate to this post from the Red Flag Deals forum. Although this user managed to get out unscathed, the lesson is an important one for traders to take heed of.

That does it for the discount brokerage weekly roundups for 2013. Have a safe and happy New Year’s and here’s hoping 2014 is a great year in the markets!

Posted on December 13, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup – December 13, 2013

This week Canadians learned that for some of us, getting letters to and from the North Pole may get harder and also more expensive now that Canada Post may cut back on mail deliveries. Not to fear though, SparxTrading is still delivering the best roundup of Canada’s discount brokerage related news, rain or shine, snow or sleet (which basically describes Vancouver weather this past week!).

In this week’s roundup it looks like most of Canada’s discount brokerages are gearing down although one firm might be starting to gear up for some changes in 2014. The forums were much livelier now that year-end is approaching. Several threads covering foreign exchange, margin accounts and trying to invest via a corporation make up this week’s offering.

The Conditions are Right

The deals section of SparxTrading got a little update thanks to Scotia iTrade updating the terms and conditions of their 100 commission-free trade offer. They’ve extended the deadline for the offer out until March 2014. While this deal looks like it’s here for a while, there are several others that are set to expire soon (including the TD Direct Investing offer ending on December 20^th). Check the discount broker deals section for more information on the new deadlines and the deals set to expire this month.

Question-Air

Credential Direct is hoping to find out more about what online investors are thinking by running an online investor survey. To help make things more interesting, they are offering those who complete the survey a chance to win a Macbook Air.

From the Forums

This past week there was lots of activity around the various Canadian investing forums. This week’s roundup features 3 posts that are particularly relevant for do-it-yourself investors.

Explaining Norbert’s Gambit

For those unfamiliar with Norbert’s Gambit or what it is used for, the following post illustrates this maneuver being used to reduce foreign exchange fees at RBC Direct Investing.

Margin accounts and buying power

What does buying power actually mean in a margin account? Can users access margin funds via withdrawal? In this post from Canadian Money Forum, a user named “Skye” as well as the other forum members try to get to the bottom of why there was a difference between the cash withdrawal limit and the buying power in Skye’s Scotia iTrade account.

Investing via a Corporation

Taxes and investing/trading can be complicated. Doing so from within a corporation can be even more complicated. In this forum thread, the idea and possible advantages or disadvantages of investing from within a corporation are debated. Given that there are so many moving parts from a tax and accounting perspective, ultimately it is important for individuals to consult their accountant (at least) to properly understand the possible benefits and costs. Nevertheless, there are some interesting points that get raised here.

That’s all for this week. With 12 shopping days left until Christmas, good luck to those of you who still have lists of people to buy gifts for. As a special treat – we’ve put together 12 days of investor tips that we’ll be counting down each day starting today.

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

Discount Brokerage Deals & Promotions – December 2013

*Updated 12/27/13*

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

*Updated 12/12/13*

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

Expired Deals

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

Scotia iTrade’s $150 Cash Back Offer

Pending Deals

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

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

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

Extended Deals

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

The deals that have been extended are:

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

New Deals

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

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

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

Special Offer [Sponsored]

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

Discount Brokerage Deals

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 March 1 2014 A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code QT100 must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information.	A)$1,000 B)$10,000	A)10 free trades B)100 free trades	60 days	100 commission-free trades	March 1, 2014
Open a new account with TD Direct Investing before December 20, 2013 and deposit either A)$5,000 to $24,999 B)$25,000 to $49,999 or C)$50,000 or more to receive commission credits for A) 3 trades, B)10 trades or C) 50 trades. Be sure to read the details about keeping your account balance at qualifying levels, eServices subscription as well as other terms and conditions.	A)$5,000 B)$25,000 C)$50,000+	A) 3 Trades (max value $87) commission credit B) 10 trades (max value $290) commission credit C) 50 trades (max value $500) commission credit	Must use trades by 4pm (E.T.) February 28, 2014	50 Free Trades Offer	December 20, 2013
If you refer a friend/family member who is not already a Scotia iTrade account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members’ contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link.	A)$10,000 B)$50,000+	A) You(referrer): $50 or 10 free trades; Your “Friend”: $50 or 10 free trades (max total value:$99.90) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $499.50)	60 days	Refer A Friend to Scotia iTrade	December 31, 2013
Open and fund a new Scotia iTRADE account with at least $25,000 before March 31, 2014 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions.	$25,000	100 commission-free trades ($999 value @ $9.99 commission rate)	60 days	Scotia iTrade 100 free trades + FlightDesk	March 31, 2014
Open a new account at Questrade by January 2, 2014 and fund it with a minimum of $25,000 to receive 25 commission-free trades which can be used throughout 2014. Use offer code BOXING13 when signing up for the account to qualify. Be sure to read the terms and conditions associated with this offer for more details.	$25,000	25 commission-free trades	End of 2014	Questrade Boxing Day Promo	January 2, 2014
Open and fund a new account with $25,000 or more and you will qualify for 25 free trades. The offer code changed with different visits to the site, so click through the RBC Direct Investing homepage to generate a valid code. There are a number of terms and conditions attached to this offer, be sure to read see the details link.	$25,000	25 commission-free trades (no restriction on commission rate listed)	365 days	25 Free Trades Offer Terms & Conditions ; To generate an offer code, click here	none
Disnat 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 or transfer new assets of $100,000 or more and choose between receiving either a)A 16GB iPad Mini or B)$250 cash back. Be sure to choose the appropriate code (IPADMINIW13 for the iPad Mini and CASH250W13 for the cash back offer) for each offer. There are several important conditions so be sure to read the terms and conditions for this offer.	$100,000	A) iPad Mini (16 GB) [~$270-320 value] B) $250 Cash	Payout/iPad delivery occurs after 30 days.	iPad Mini or $250 Cash Back	March 1, 2013

Transfer Fee Deals

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 November 29, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup – Nov. 29 2013

With bargain hunters being bullish on all kinds of deals, this Black Friday edition of the weekly roundup will hopefully be enjoyed on the screens of some newly purchased electronic goodies. While the Black Friday madness has yet to hit the discount brokerage world (*yet*), there was still quite a bit of activity to report on. This past week another discount broker was crowned “best online brokerage”, there was a roll out of practice accounts from a major discount broker and low fee mutual funds start to pick up steam.

And the award for best online brokerage goes to…..

It’s been a busy year for the titles of best discount broker/best online broker. This year, 7 out of the 14 major Canadian discount brokerages (HSBC InvestDirect, Scotia iTrade, Interactive Brokers, National Bank Direct Brokerage, BMO InvestorLine and Virtual Brokers ) have won some kind of ‘best’ title in the discount brokerage/online brokerage space. Of course, each of the rankings and evaluations uses a different method to evaluate the brokerages, however with so many “best online brokers” it can be tough to choose. Thankfully there are tools to help simplify comparing discount brokerages on price and key features. Look out for the full review of all of this year’s awards and a look ahead to 2014 coming soon.

This past week, BMO InvestorLine was awarded the crown for Best Online Brokerage by the judging panel (Paul K. Bates, Jonathan Chevreau, Jon Purther and Glenn A. Lacoste) from the Morningstar Awards. Although Qtrade did not win this year, they got a couple of honourable mentions. For more information on the win, check out this press release and also this video interview of BMO InvestorLine President & CEO Viki Lazaris with Morningstar’s Ashley Redmond.

At Scotia iTrade, Practice Makes Perfect

Scotia iTrade has now widely rolled out practice accounts for those clients interested in trading with pretend money instead of real money. Practice accounts are a great tool to help self-directed investors get oriented to their online trading accounts and become familiar with the process of trading. For those seeking to improve their trading performance, practice accounts are also great tools for building discipline and testing trading strategies. Other Canadian discount brokerages that offer practice online trading accounts include RBC Direct Investing, Interactive Brokers, Virtual Brokers and TD Direct Investing (US Trading Platform).

On the D List

Earlier this year, RBC Direct Investing announced that it was lowering the threshold for participating in the RBC Series D mutual funds. Given the interest in low cost ETFs and mutual funds, this certainly raised more than a few eyebrows in the mutual fund industry. Fast forward to this week and it seems that interest is turning into action with the announcement from RBC Direct Investing that BlackRock Canada, Invesco Canada and Mackenzie Investments will also be planning to roll out funds that fit into the Series D family. Check out Rob Carrick’s article in the Globe and Mail for a good overview of the Series D funds and how they stack up against ETFs.

From the Forums:

Curiosity About the KIP

Amidst all the Black Friday deal hunting, on the RedFlagDeals.com forum, there was an interesting post about Virtual Brokers’ recently launched Kick Start Investment Program (KIP). Check out what the investor tribe had to say to user Leahjz’s questions about using the KIP.

That’s it for this week’s edition of the roundup. Happy shopping everyone!

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.

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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 11, 2013 by user — Leave a comment

Discount Brokerage Weekly Roundup October 11 2013

After a bumpy week in the markets, it is nice to get to Friday. For Canadian readers, it’s Thanksgiving long weekend so that means Canadian markets will be closed on Monday while everyone digests the news and a whole lot of turkey.

On the heels of the major announcement last week from BMO InvestorLine, this week there was a flurry of activity with several Canadian discount brokerages launching new features for research and trading. The news wasn’t all smiles and sunshine though. While one discount brokerage was improving access to low cost funds, another discount broker decided that margin trading had started to become too risky for some stocks and subsequently raised margin requirements. Finally, a couple of forum posts on a pair of Canadian discount brokerages were worth sharing this week.

CIBC Investor’s Edge Announces New Features

After their recently announced RESP administration fee elimination, it seems like CIBC Investor’s Edge is again moving to improve their service offering to Canadian self-directed investors. This time, it looks as if research tools and education support are being given a lift. Specifically, this past week, CIBC Investor’s Edge announced that they are rolling out an improved ETF research centre with resources from Morningstar (such as screeners, educational materials and more) powering the section. ETF education and support materials are offered by other Canadian discount brokerages, with discount brokerages such as National Bank Direct Brokerage, Qtrade and RBC Direct Investing also offering “ETF Centres” too.

RBC Direct Investing Lowers Investing Threshold on Series D Mutual Funds

In a news release this past week, RBC Direct Investing announced that they are lowering their investment minimum on their Series D mutual funds from $10,000 to $500. This will certainly be of interest to those investors with smaller portfolio sizes and those looking for lower Management Expense Ratio (MER) investment products. For more information on the RBC Direct Investing Series D Funds, click here.

Qtrade Launches New Features

Major bank-owned discount brokerages weren’t the only ones busy launching new features, a major independent discount brokerage is quietly rolling out some of their latest improvements for users. This past week, Qtrade launched several new or improved features for clients including:

A new model portfolio feature that allows clients to ‘follow’ different portfolio types
An improved ETF centre that provides detailed information and research on ETFs (powered by Morningstar)
Improved account transfers between brokerages
Improved new issues centre
Improved trading interface with improved quotes, order tracking and help resources

Look out for a more detailed look at these new features in an upcoming post. In the meantime, users might be interested to know that are also some hints by Qtrade of further exciting changes coming to their trading interface. Stay tuned!

Interactive Brokers Hiked Margin Requirements for certain stocks

Interactive Brokers laid the smack down on margin traders this week by hiking margin requirements for many recently popular momentum stocks. A move like this begs the question – why now? The following two articles (Article 1 & Article 2) from Zero hedge tackles why Interactive Broker with a very interesting series of theories. Be warned though, these articles are fascinating but could definitely leave readers feeling a little nervous about market directions in the near term.

From the Forums

This past week, sifting through the chatter on discount brokerages on Canadian investing forums landed two interesting threads on CIBC Investor’s Edge and TD Direct Investing (TD Waterhouse) from Canadian Money Forum.

The first was a great discussion started by the user “2tire2work” who was interested in getting their personal finances in order – specifically getting going with some investing they had been thinking about. Click here to read more about what others in the forum had to say about which discount brokerage to choose.

In the second discount brokerage related post, dividend payment time was on the mind of the user “Gibor” who was curious to know why their dividend payments were getting posted to an account at CIBC Investor’s Edge at a different time from than at their account with TD Direct Investing. There were lots of interesting answers by forum members on this one – click here to read the thread.

That brings us to the end of the roundup for this week. Have a safe and wonderful Thanksgiving long weekend (for the Canadians!) and a great Columbus Day for those in the US. As a quick reminder, Canadian stock markets will be closed on Monday but US Markets will remain open for trading.

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.

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