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 30+Trades/Qtr.
$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 $15kNational 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
was: $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.
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 dateQTrade Financial Group - QTrade Investor
$8.75/Trade. $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.
RRSP: Possible Quarterly Fee: See Above.
RESP: 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: 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.
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
$6.88/Trade.
$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 $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: ?
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
RESP: 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
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.