Canadian Discount Brokers



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DRIP Brokers Canadian discount brokers commission comparison  Canadian broker trading fee stock dripping share drips


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
$29/Trade.  *$9.99/Trade if more than $50,000 in assets or 30+Trades/Qtr.  LINK  *$25 Low Activity Fee for non-reg possible
$50/Certificate Request. Total: $79 *Minimum $5000 initial deposit
Synthetic DRIP:Yes.  All or None: ?  List: Yes, selected securities.
TFSA: Annual Fee $50 if total assets under $100k.  Withdrawal: ?
RRSP: Annual Fee $100 if under $15k
RESP: Annual Fee $50 if under $15k

CIBC - Investor's Edge
and Fees
$28.95/Trade.  *$395/Year for 50 Trades.*Minimum $10,000 balance or $60/yr fee ** $100k in Assets/Loans $6.95/Trade
$50/Certificate Request, $5 for each additional certificate. Total: $78.95
Fee Increase Feb-1-09:  Old Fee $25/Trade, Certificate $30/request.
Synthetic DRIP: Yes?
TFSA: 0$. 
Withdrawal: ?
RRSP: Annual Fee $100 if under $25k
RESP: Annual Fee $50 if under $15k


Royal Bank - RBC Direct Investing
*Min. $10,000 balance or $20 /quarter fee (PDF)
$28.95/Trade. *$9.95/Trade if more than $50,000 in assets or 30+Trades/Qtr.
$50/Certificate Request. Total: $78.95
Synthetic DRIP: 
Yes.  All or None:  Yes.  List: Approx. 500 securities. Honours DRIP discount.
TFSA:
Annual Fee and Withdrawal Fee $0.
RRSP:
Annual Fee $75 if under $25k
RESP:
Annual Fee $50 if under $25k

Scotiabank - ScotiaMcleod Direct Investing
*Low Activity Fee, $25/Qtr if Zero Trades
$28.95/Trade.  "ScotiaDirect" Old fee:  25.95$/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

TD Bank - TD Waterhouse Canada
$29/Trade.  *$9.99/Trade if more than $50,000 in assets or 30+Trades/Qtr.
$50/Certificate Request,
$5 for each additional certificate of same security. Total: $79
Synthetic DRIP:
Yes.  All or None: No.   Honours DRIP discount.
TFSA:
Annual Fee $50.  $0 if registered for "eServices" or Total TD-W assets over $50,000.
RRSP:
Annual Fee $100 if under $25k
RESP:
Annual Fee $50 if under $25k

National Bank -
National Bank Direct Brokerage *2 trades/yr or $80/yr fee
$28.95/Trade.  $50/Certificate Request.  Total: $78.95
Synthetic DRIP: 
Yes.  All or None: No   List:  Yes, approx. 120 securities.
TFSA:
Annual Fee $0 if 2 trades/year.
RRSP:
Annual Fee $75 if under $25k
RESP:
Annual Fee $50 if under $25k

Desjardins, Caisse Populaire - DisNat Direct *1 trade/yr or $12.50/qtr fee (PDF)
$29/Trade. *$9.95/Trade if 10+ Trades/Month.
$50/Certificate Request.  Total: $79
Synthetic DRIP: 
Yes.  All or None: No.  Honours DRIP discount.
TFSA: 
Annual Fee $0 if 1 trade/year.  Transfer in Kind: $25.
RRSP:
Annual Fee $75 if under $15k
RESP:
Annual Fee $50 if under $15k


Scotiabank -
iTrade Canada  *Low activity fee $25/Qtr possible if <$10K on Investment accounts ONLY
$19.99/Trade.  *$9.99/Trade if more than $50,000 in assets or 30+Trades/Qtr
$50/Certificate Request.  Total: $69.99
Synthetic DRIP:
Yes, Partial Shares(?).  All or None: No
Honours DRIP discount.
TFSA: No Annual Fee, Withdrawal Fee or Low Activity Fee
RRSP: No Annual Fee
or Low Activity Fee
RESP: No Annual Fee or Low Activity Fee

HSBC - HSBC InvestDirect   *Inactivity Fee Possible $50/year
$29/Trade.  $95 + "Out of Pocket Expenses" /Certificate Request.  Total: $124
Synthetic DRIP:  Yes.
TFSA: Annual Fee ?
RRSP: Annual Fee $50 if under $15k
RESP: Annual Fee $50




QTrade Financial Group - QTrade Investor *Dormant account closure fee $25
$19/Trade.  *$9.95/Trade if more than $100,000 in assets or 30+Trades/Qtr
$50/Certificate Request.  Total: $69
Synthetic DRIP: Yes.  All or None: No.
TFSA:
No Annual Fee or  Withdrawal Fee.  No low activity fee.
RRSP:
Annual Fee $50 if under $15k
RESP:
Annual Fee $50 if under $15k

Questrade - Questrade
$4.95/Trade + ECN Fees.  *Minimum $1000 initial deposit.
$300/Certificate Request. Total: $304.95
Synthetic DRIP:
Yes.  All or None: NoListAlmost all securities.
TFSA:
No Annual Fee or  Withdrawal Fee.
RRSP:
No Annual Fee. No low activity fee.
RESP:
No Annual FeeNo low activity fee.


Credential Securities Inc (Credit Unions) - Credential Direct
*No Low Activity or Balance Fee*
$19/Trade.
$50 + 3rd Party Costs/Certificate Request (~ $75).  Total: $94
Synthetic DRIP: 
Yes.   Honours DRIP discount.
TFSA:
No Annual Fee or  Withdrawal Fee.
RRSP:
Annual Fee $50 if under $15kNo low activity fee.
RESP: 

Jitney Trade - JitneyTrade Online *Low activity fee $25/Qtr if less than 3 trades/Quarter
$9.99/Trade.  $50/Certificate Request.  Total: $59.95
Synthetic DRIP:  ?.   Honours DRIP discount: ?
TFSA:
$20/ year fee.
RRSP:
Annual Fee $125 for all Registered accounts.
RESP:

Virtual Brokers (BBS Securities) *No Low Activity or Balance Fee*
$6.95/Trade + ECN Fees.
$200/Certificate Request.  Total: $206.95
Synthetic DRIP:  ?.  
Honours DRIP discount: ?
TFSA: No Annual Fee or  Withdrawal Fee.
RRSP: Annual Fee $50 if under $15k.  No low activity fee.
RESP: $25/year fee.

Canadian ShareOwners CO-OP Investment Group - ShareOwners
$9.95/Trade (CO-OP) or $29/Trade (Immediate)
$75/Certificate Request.  Total $49 or $69
Synthetic DRIP:
Yes, fractional and automaticList: Pre-screened securities.
TFSA:
Annual Fee: $50 and Withdrawal Fee $25
RRSP:
Annual Fee $59
RESP:
Annual Fee $50

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

PLEASE NOTE:
* 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.