Discount Brokerage Firms – Comparison Chart

Are you contemplating making the switch to a new online brokerage? Use the Brokerage Firms – Comparison Chart below to make your own informed decision.

Click to download a PDF version of this Comparative Chart

BMO Investor Line B2B Bank Discount Brokerage CIBC Investor's Edge Desjardins Online Brokerage
What is the basic online equity trading commission? $9.95 $Under $2.00/share it's
$45 + $0.01/share
(min. $50 comm)
Over $2.00/share it's
$45 + $0.05/share
(min. $50 comm)
$6.95 $9.95
RRSP and Annual Admin Fee $100 + tax
Waived if total of all registered accounts is $25,000 or greater
(excluding RESP & TFSA)
$135 + tax
Waived when the RRSP only holds a B2B product like a GIC or money market fund for a full year.
$100 + tax
Waived if the total equity of the RRSP holds $25,000 or greater in total equity
$100 + tax
Waived if assets hold
$15,000 or greater in total equity OR have any registered account OR 6+ trades/year
Can you hold U.S. dollars in an RRSP? Yes No Yes Yes
Class D Funds?
Key Attributes Strong account
opening process

Strong access
to pertinent
account infiormation
Comparable commissions

Alerts

Live trading & investor
services by phone
Low equity commissions

Analyst reports included at no extra charge
Wide array of
customer seminars

Strong research tools

Guided portfolios
Customer Service Hours of Operation & Phone Number Mon-Fri
8:00 am-8:00 pm
(ET)

1-888-776-6886
Mon-Fri
8:30 am-5:00 pm
(ET)

1-866-542-3403
Mon-Fri
8:00 am-8:00 pm
(ET)

1-800-567-3343
Mon-Fri
7:00 am-7:00 pm
(ET)

1-866-873-7103
Click for more information Website Website Website Website
HSBC InvestDirect National Bank Direct Brokerage Qtrade Investor Questrade RBC Direct Investing
What is the basic online equity trading commission? Starting at
$6.88
$9.95 $8.75 1-cent per share
$4.95 min. to a max of $9.95)
$9.95
RRSP and Annual Admin Fee $100 + tax
Waived if the RRSP holds $25,000 or greater in total equity
$100 + tax
Waived if the RRSP holds $20,000 or greater in total equity, OR 5 trades/year
$25 + tax/quarter
Waived if the RRSP iss $25,000 or greater in total equity, OR minimum number of trades/quarter,
or if contributions of
minimum $100/month are made
No annual admin fee
$24.95 + tax/quarter
inactivity fee can be waived if assets hold $5,000 or greater, in total equity OR 1 trade/quarter,
OR 25 yrs of age or younger
$25 + tax/quarter
Waived if the combined assets across all Direct Investing accounts holds
$15,000 or greater in total equity, OR 3 trades/quarter, OR if contributions of $100/month
are made
Can you hold U.S. dollars in an RRSP? Yes, but only in high interest savings Yes Yes Yes Yes
Class D Funds?
Key Attributes Low commissions

Availability of multi-currency accounts

Global trading capability
Strong account opening process

Good seminar series

MarketQ information tool for more active investors
Strong account
opening process

Good
navigational design

Charting and
technical analysis

Strong
website resources
Low commissions
and fees

Good ETF
commission
structure

Industry-leading
Initial Experience

Live Chat
capabilities during
market hours
Strong market
overview tools

Magazine section
for Investor education

Planning &
Analysis tools

Strong
customer
service
Customer Service
Hours of Operation & Phone Number
Mon-Thurs: 24 hours
Fri: 6:00 am-10:00 pm
Sat: 10:00 am - 6:00 pm
(ET)

1-800-760-1180
Mon-Fri
8:00 am-8:00 pm
(ET)

1-800-363-3511
Mon-Fri
8:30 am-8:00 pm
(ET)

1-877-787-2330
Mon-Fri
7:30 am - 8:00 pm
(ET)

1-888-783-7866
Mon-Fri
7:00 am - 8:00 pm
(ET)

1-800-769-2560
Click for more information Website Website Website Website Website
Scotia iTRADE TD Direct Investing Virtual Broker
What is the basic online equity trading commission? $9.99 $9.99 1-cent per share
($1.99 min. $7.99 max)
RRSP and Annual Admin Fee $100 + tax
Waived if the RRSP holds $25,000 or greater in total equity, OR 12/trades/year
$25/quarter
Waived if the total equity of the RRSP is
$15,000 or greater, OR 3 trades/quarter, OR quarterly deposits of $100 or greater
$24.95 + tax/quarter
Waived if assets of $5,000 or greater in total equity OR complete
1 trade/quarter with minimum
commission of $1.99 OR under 26 years of age
Can you hold U.S. dollars in an RRSP? Yes Yes Yes
Class D Funds?
Key Attributes Good brokerage/banking interaction

Stron account
management services

Strong stock

screener resources
Strong market information

NEW - Analyst insights

Placing trades - Screens and process
Low commissions and fees

Low account balance minimum

Strong account opening process

Account management
resources
Customer Service
Hours of Operation & Phone Number
Mon-Fri
8:00 am - 8:00 pm
(ET)

1-888-872-3388
24 Hours
7 Days a Week
Including Holidays

1-800-465-5463
Mon-Fri
8:00 am - 5:00 pm
Saturday 11:00 am - 6:00 pm
(ET) 1-877-310-1088
Click for more information Website Website Website

Click to download a PDF version of this Comparative Chart

*Based on information found on Surviscor.com and/or individual brokerage websites

Additional Resources

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