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
$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: $25
RRSP: Annual Fee $100 if under $25k
RESP: Annual Fee $50 if under $25k
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. $15,000 balance in ALL accounts or 3 trades/Qtr or $25/Quarter fee *Eff. Jul-2012
was $10k or $20/Q
$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: See Above (was free) and Withdrawal Fee $0.
RRSP: Annual Fee: See Above
RESP: Annual Fee: See Above
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 *Low activity fee: 4 trades/yr or $100/yr fee
$28.95/Trade. *$9.95/Trade if $50,00 in assets.
$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 or only National Bank assets.
RRSP: Annual Fee $100 if under $25k
RESP: Annual Fee $50 if under $25k
Desjardins, Caisse Populaire - DisNat Direct *2 trades/yr or $12.50/qtr fee
$29/Trade. *$9.95/Trade if 10+ Trades/Month or $50,00 in assets.
$50/Certificate Request. Total: $79 *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 or 30+Trades/Qtr
** Fee Increase April-2012: Old Fee $19.99/Trade
$50/Certificate Request. Total: $74.99
Synthetic DRIP: Yes, Partial Shares(?). All or None: No. Honours DRIP discount. Trade select list of ETF for free
TFSA: No Annual Fee, Withdrawal Fee or Low Activity Fee
RRSP: 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
HSBC - HSBC InvestDirect *Inactivity Fee Possible $50/year
$28.88/Trade. $9.88/Trade if more than $50,000 in assets or 30+Trades/Qtr
$95 + "Out of Pocket Expenses"/Certificate Request. Total: $123.88
Synthetic DRIP: Yes.
TFSA: Annual Fee $50* if under $15k
RRSP: Annual Fee $50* if under $15k
RESP: Annual Fee $50
*$25 for subsequent accounts.
QTrade Financial Group - QTrade Investor
$19/Trade. *$9.95/Trade if more than $50,000 in assets or 30+Trades/Qtr *Minimum $1000 initial deposit
$50/Certificate Request. Total: $69
Synthetic DRIP: Yes. All or None: No. Honours DRIP discount: ?
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.
**OCT-2012: $19.95 Rebateable Inactivity Fee or complete 1 trade for accounts <$5,000
$300/Certificate Request. Total: $304.95
Synthetic DRIP: Yes. All or None: No. List: Almost 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 Fee. No low activity fee.
Credential Securities Inc (Credit Unions) - Credential Direct *No Low Activity or Balance Fee*
$19/Trade or $9.95 if 10 trades/Quarter.
$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 $15k. No low activity fee.
RESP: 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.
RRSP: Annual Fee $125 for all Registered accounts.
RESP: ?
Virtual Brokers (BBS Securities) *No Low Activity or Balance Fee*
$6.49/Trade + ECN "Per Trade" structure.
$200/Certificate Request. Total: $206.49
Synthetic DRIP: Yes Fee of $1/mth per account. 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: $84.95 or $104
Synthetic DRIP: Yes, fractional and automatic List: Pre-screened securities.
TFSA: Annual Fee: $50 and Withdrawal Fee $25
RRSP: Annual Fee $78
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.