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 is $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