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National Bank slashes online trading commissions to 'Zero'! :-)
August 31, 2021
4:11 am
file
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Interactive Brokers

August 31, 2021
10:59 am
Dean
Valhalla Mountains, British Columbia
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RetirEd said

I can't figure out what the "IB" referred to in this thread means...
RetirEd  

My guess Investment Brokers

Any other guesses ❓ sf-smile
.

    Dean

sf-cool " Live Long And Prosper " sf-cool

August 31, 2021
11:03 am
AltaRed
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As already indicated by 'file', Interactive Brokers. It is the 'go to' brokerage for traders especially, low commission and forex rates, etc.

August 31, 2021
11:56 am
AR
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Dean said

My guess Investment Brokers

Any other guesses ❓ sf-smile
.

    Dean

  

IB or not IB. That is the question....
Interactive Brokers. I started WS and thinking a little about nbdb.

August 31, 2021
12:56 pm
savemoresaveoften
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AltaRed said
As already indicated by 'file', Interactive Brokers. It is the 'go to' brokerage for traders especially, low commission and forex rates, etc.  

Indeed. But keep in mind its not for most except those are active and can leverage the power features in its platform. Quotes etc are being charged to the user and you pick the exchanges and level of quotes you want to subscribe to, but it is live streaming which Cad brokers also offer but not free either.

August 31, 2021
6:50 pm
Norman1
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Interactive Brokers Canada has a complex fee schedule for market data.

Free delayed quotes. If one doesn't need live streaming quotes, there are snapshot real-time quotes.

Need to maintain at least US$500 of account equity. US 1¢ each for US equities. US 3¢ each for snapshot quotes of others, like TSX listed equities. First US$1 of snapshot quotes is free each month.

September 15, 2021
10:10 am
Canuck_Flyer
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Check the National Bank Direct Brokerage terms and conditions carefully.
Free commissions means 100 free trades or 12 months, whichever comes first, after which regular commission rates will apply.

September 15, 2021
10:26 am
Canuck_Flyer
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See https://nbdb.ca/content/bncd/en/accueil/comptes/ouvrir.html

Read down, and read notes 1, 3 and 5 in:

The fine print
Eligibility requirements

1. This promotion is available from March 15 to September 30, 2021. It applies to new and current NBDB clients who open a new account.

2. Existing clients must open a new account and the free trades will apply only to the new account(s). Cash, margin and overdraft accounts as well as Canadian and US accounts from the same plan (e.g. RRSPs) are considered the same type of account.

3. When more than one account is opened under the same root, the maximum number of free trades awarded is 100 (this offer is not cumulative).

4. The promotional code "Free2021" must be indicated on the account opening form.

5. Stocks, options and exchange-traded funds are eligible for free trading, provided that the transactions are carried out through our online platform. Once the free period is over (i.e. one year after the account opening date or when the maximum number of transactions has been reached), the applicable commission schedule, including ETFs at $0, will apply.

6. The client can only take advantage of this offer once (Social Insurance Number is used) and must meet all the eligibility requirements.

7. This promotion is offered to clients who have not benefited from any other one in the last 12 months.

8. Corporate account is also eligible for this offer.

9. This offer may be revoked or amended at any time without prior notice.

10. This offer cannot be combined with any other offer.

September 15, 2021
11:14 am
Norman1
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Canuck_Flyer said
Check the National Bank Direct Brokerage terms and conditions carefully.
Free commissions means 100 free trades or 12 months, whichever comes first, after which regular commission rates will apply.

That's just their new client promotion.

After the promotion ends, the regular commissions apply. Regular commission is now $0 for stock and ETF trades submitted online.

September 20, 2021
1:40 pm
Norman1
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One does need to watch out for NBDB's $100 annual admin fee.

According to their fee schedule, the annual admin fee is waived under these conditions:

  1. You’re a young investor aged 30 or under
  2. Your assets exceed $20,000 as of May 31 of the current year** 
  3. You make at least 5 transactions in stocks, ETFs, or options, between June 1 and May 31**
  4. You participate in a financial program for engineers, teachers, healthcare, or business professionals
  5. You have an InvestCube account

**The year runs from June 1 to May 31.

September 20, 2021
3:30 pm
AltaRed
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Good cautionary note, but should add only one condition has to be satisfied. It would be a rare instance not being able to meet one of the conditions.

September 24, 2021
2:02 pm
geotabs
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Looks like we have a second bank with zero commissions!
Desjardins Online brokerage

Now I'm hoping that IB will do the same as they did in the US and offer free trades with their IB Lite structure.
I am with both IB and NBDB and trade actively and I will tell you that NBDB Market-Q order entry is painful to say the least.
With IB TWS I have direct access with no confirmations and the ability to attach bracket order.
The Canadian Banks are so far behind to what is available for trading software compared to the US, TD once offered Think Or Swim but now don't unless your grandfathered in sf-confused

Any guesses on who's next to offer free trades?

September 24, 2021
2:23 pm
mordko
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All discount brokerages will be under pressure but particularly independent ones like Questrade and Qtrade. The ones linked to big 4 can cross sell their services and rely on their brand strength but independents will be bleeding clients and losing out on the new blood.

September 26, 2021
10:21 am
Dean
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.
What Mordko said

Yes, Questrade & Qtrade will likely be next. Then the other discount brokerages will have no choice but to eventually follow suit.

I wouldn't hold our breaths on this, though ... it took 'several years' for the same thing to happen in the States.

    Dean

sf-cool " Live Long And Prosper " sf-cool

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