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Scotia iTRADE: Winter 2020 cash or free trades offer
February 17, 2020
8:23 am
Norman1
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Scotia iTRADE is running a cash-or-free-trades offer for new money:

Funding Requirement Cash +$6.99
pricing
OR Free Equity
Trades
$5,000 - $9,999 $25 10
$10,000 - $24,999 $50 20
$25,000 - $49,999 $100 50
$50,000 - $99,999 $200 100
$100,000 - $249,999 $400 200
$250,000 - $499,999 $750 300
$500,000 - $999,999 $1,000 400
$1,000,000 + $1,500 500

Open new account (with offer code C20 or FT20) or enroll existing accounts by February 29, 2020. Transfer the new money in by March 31 and keep in the accounts until June 30.

Fine print says existing clients qualify. However, the online page for existing clients to enroll is missing! sf-embarassed

I called the toll-free number and confirmed that existing clients qualified. The agent enrolled my existing accounts in the offer.

February 17, 2020
9:38 am
AltaRed
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I see this as a market test of which option might be most attractive for possible changes in their commission structure and who it attracts.

February 17, 2020
5:59 pm
Norman1
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I don't think Scotia iTRADE is considering $0 commissions. It would be a challenge for them to sustain their platforms for $0 instead of $4.99 or $9.99 per trade.

The offer for free trades only covers trades within 90 days of the funding the account.

February 17, 2020
6:11 pm
AltaRed
BC Interior
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I think they are testing the appetite for lower commissions. Not necessarily zero.

Personally I have zero issue with $10 commissions. If one cannot manage a portfolio on $10 commissions, it is time to leave it to the professionals.

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