Canadian Discount Brokers

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A list of the Discount Brokers in Canada and their basic equity trade commission along with the fee to request a share certificate in your name.   Fee is for EACH certificate, regardless # of shares.

This is to compare the cost to purchase 1 share & to request a certificate for the purpose of enrolling in the Company Sponsored DRIP & SPP plan (Single or Group Buys) and not a Synthetic DRIP.   Or more simply just to compare trade commissions in Canada.

  Bank of Montreal (BMO) - BMO Investorline   *$25 Low Activity Fee for non-reg possible
$9.95 / Trade effective 11-Feb-2014
was:  $29/Trade.  *$9.99/Trade if more than $50,000 in assets or

$50/Certificate Request. Total: $79 *Minimum $5000 initial deposit
Synthetic DRIP:Yes.  All or None: ?  List: Yes, selected securities.
Honours DRIP discount: ?
TFSA: Annual Fee $50 if total assets under $100k.  Withdrawal: $25
RRSP: Annual Fee $100 if under $25k
RESP: Annual Fee $50 if under $25k

CIBC - Investor's Edge
and Fees
$6.95 / Trade Effective 06-Oct-2014   *Minimum $10,000 balance or $100/yr fee
was: $28.95/Trade.  *$395/Year for 50 Trades. ** $100k in Assets/Loans $6.95/Trade

$50/Certificate Request, $5 for each additional certificate. Total: $56.95
Fee Increase Feb-1-09:  Old Fee $25/Trade, Certificate $30/request.
Synthetic DRIP: Yes (?)  
Honours DRIP discount.
TFSA: 0$. 
Withdrawal: ?
RRSP: Annual Fee $100 if under $25k
RESP: No Annual Fee.

Royal Bank - RBC Direct Investing *Min. $15,000 balance in ALL accounts or 3 trades/Qtr or $25/Quarter fee *Eff. Jul-2012
$9.95 / Trade effective 15-Jan-2014
was: $28.95/Trade. *$9.95/Trade if more than $50,000 in assets or 30+Trades/Qtr.

$50/Certificate Request.
Total: $59.95
Synthetic DRIP:  Yes.  All or None:  Yes.  List: Approx. 500 securities Link. Honours DRIP discount.
TFSA:   Annual Fee: See Above (was free) and Withdrawal Fee $0.
RRSP:  Annual Fee: See Above
RESP:  Annual Fee: See Above

TD Bank - TD Direct Investing

$9.99/trade eff 7-Feb-2014   
**Low Activity Fee $25/Qtr if <$15,000 or < 2 trades
was: $29/Trade.  *$9.99/Trade if more than $50,000 in assets or 30+Trades/Qtr.

$56.50/Certificate Request or DRS Statement Total: $66.49 FEES

Synthetic DRIP: Yes.  All or None: No.   Honours DRIP discount.
TFSA: Annual Fee
$25/qtr if under $15k
RRSP: Annual Fee $25/qtr if under $15k
RESP: Annual Fee $25/qt if under $15k

National Bank - National Bank Direct Brokerage 
$9.95/Trade Eff. Feb-19-2014  
 *$100/Year Fee if <$20,000 or <5 trades 
was $28.95/Trade.  *
$9.95/Trade if $50,000 in assets.

$50/Certificate Request. 
Total: $59.95
Synthetic DRIP:  Yes   All or None: No   List:  Yes, approx. 120 securities.
TFSA: Annual Fee see above.
RRSP: Annual Fee
see above.
RESP: Annual Fee
see above.

Desjardins, Caisse Populaire - DisNat Direct  
$9.95 / Trade effective Mar-2014  
*Low Activity Fee: $25/Qtr if <2 trades/yr or <$15,000 link 
was: $29/Trade. *$9.95/Trade if 10+ Trades/Month or $50,000 in assets.

$50/Certificate Request. 
Total: $59   *Single trade account fee $50  *$10/Certificate deposit
Synthetic DRIP:  Yes.  All or None: No.  Honours DRIP discount.
TFSA:  Annual Fee $0 if 2 trades/year or $15,000 in assets.  Transfer in Kind: $25.
RRSP: Annual Fee $100 if under $15,000.
RESP: Annual Fee $50 if under $15,000 in all accounts.


Scotiabank - iTrade Canada  *Low activity fee $25/Qtr possible if <$10K on Investment accounts ONLY
$24.99/Trade.  *$9.99/Trade if more than $50,000 in assets/loans/etc LINK 
**Buy / Sell select list of ETFs for free.
$4.99/Trade if 150+ trades/month
* Fee Increase April-2012:  Old Fee $19.99/Trade

$100/Certificate Request/deposit Total: $124.99 eff. Sep-01-2016
$50/Certificate Request.  Total: $74.99
Synthetic DRIP: Yes.  All or None: No Honours DRIP discount & Online Management.
TFSA: No Annual Fee, Withdrawal Fee or Low Activity Fee.
Annual Fee $100 if under $25k in ALL accounts
** Fee Increase September-2012: RRSP was free prior to this date

RESP: Annual Fee $25 if under $15k in ALL Accounts
** Fee Increase September-2012: RESP was free prior to this date

QTrade Financial Group - QTrade Investor 

$25/Qtr Fee if <$25k OR <2 trades.   *Min $1000 initial deposit  **Buy / Sell select list of ETFs for free

Was: $19/Trade.$50/Certificate Request. *$9.95/Trade if >$50,000 in assets or 30+Trades/Qtr.

$125/Certificate Request. 
Synthetic DRIP:
Yes.  All or None: No.  
Honours DRIP discount.
TFSA:  Possible Quarterly Fee: See Above.
Possible Quarterly Fee: See Above.
Possible Quarterly Fee: See Above.

Questrade - Questrade
$4.95/Trade + ECN Fees. 
*Minimum $1000 initial deposit.  

     **APR-2015: Rebateable Inactivity Fee if <$5,000 Fee $24.95/Qtr, Family accounts can be linked. was OCT-2012: $19.95/Qtr
$300/Certificate Request.
Total: $304.95
Synthetic DRIP: Yes.  All or None: NoListAlmost all securities. 
 Honours DRIP discount: No.  **Buy any ETF for free.
TFSA:  No Annual Fee or Withdrawal Fee.
RRSP: No Annual Fee. No low activity fee.
RESP: No Annual FeeNo low activity fee.

Portfolio IQ wealth management: No minimum.

Virtual Brokers (BBS Securities)  *Inactivity Fee $24.95/qtr IF <$5,000 AND 0 trades

$0.01/Share to max $9.99       ** Buy / Sell 150 ETFs for free.
$200/Certificate Request. 
Synthetic DRIP:  Yes. (Dividend Purchase Plan)  Fee of $1/mth per account.   
Honours DRIP discount: No.
TFSA:  No Annual or Withdrawal (EFT) Fee. CAD$
RRSP: No Annual Fee. CAD$
RESP: $25/year fee.

HSBC - HSBC InvestDirect   *
$25/Qtr inactivity fee if <1/Trade or <$10K

  $95 + "Out of Pocket Expenses"/Certificate Request
Total: $101.88
Synthetic DRIP:  Yes.
TFSA: Annual Fee $100* 
if under $25k
RRSP: Annual Fee $100* if under $25k
RESP: Annual Fee $50

Credential Securities Inc (Credit Unions) - Credential Direct *Quarterly fee possible if <$15,000 in assets or <2 trades
$8.88/Trade **Effective 1-Oct-2014
was: $19/Trade or $9.95 if 10 trades/Quarter.

$50 + 3rd Party Costs/Certificate Request (~ $75).  Total: $84
Synthetic DRIP: 
Yes   Honours DRIP discount.
TFSA: No Annual Fee or  Withdrawal Fee.
RRSP: Annual Fee $50 if under $15kNo low activity fee.
No Annual Fee.

Jitney Trade JitneyTrade Online *Low activity fee $25/Qtr if less than 3 trades/Quarter

$8.99/Trade + ECN.  $50/Certificate Request.  Total: $58.99
Synthetic DRIP:  ?.   Honours DRIP discount: ?
TFSA: $20/Year fee.
RRSPAnnual Fee $125 for all Registered accounts.

Canadian ShareOwners - ShareOwners
No longer available.
$9.95/Trade Pooled) or $19.95/Trade (Individual)
$75/Certificate Request.  Total: $84.95 or $94
Synthetic DRIP: Yes, fractional and automatic  List: Pre-screened securities.
TFSA: Annual Fee: $47.62 and Withdrawal Fee $25
RRSP: Annual Fee $75.24
Annual Fee $?

ScotiaMcleod Direct Investing *Low Activity Fee, $25/Qtr if Zero Trades - No longer available.
$28.95/Trade.  "ScotiaDirect" Old fee:  25.95$/Trade
$50/Certificate Request.
  Total: $78.95
Synthetic DRIP: Yes.  All or None: No.  List:  Yes, approx. 200 securities.
TFSA: Annual Fee and Withdrawal Fee $0.
RRSP: Annual Fee $100 if under $25k
RESP: Annual Fee $25 if under $15k

eNorthern - CLOSED as of Aug. 1, 2008
$24/Trade.$20/Certificate Request.  Total: $44

Scotiabank - TradeFreedom * Accounts Moving to iTrade as of 18-Oct-2010 
*Low activity fee $25/Qtr possible if <$10K
$9.95/Trade. *Minimum $1000 initial deposit. $50/Certificate Request.  Total: $59.95

* To Request a Share / Stock Certificate, simply CALL your broker and ASK FOR ONE.

* A "traditional" DRIP & SPP (as described in the Primer) is different than a Synthetic DRIP offered by a Broker. You DRIP a company's stock, not a broker.  Read more at
FAQ Question #10.

* Regarding DRIP discounts offered by companies noted in the DRIP LIST, contact your broker if they pass along the discount when Synthetically DRIPping a particular company.  The above notes regarding honouring DRIP discount is incomplete.