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| BMO InvestorLine | CIBC Investor's Edge | Credential Direct | Desjardins Online Brokerage | HSBC InvestDirect | Laurentian Bank Discount Brokerage | National Bank Direct Brokerage | Qtrade Investor | Questrade | RBC Direct Investing | Scotia iTRADE | TD Direct Investing | Virtual Brokers | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Minimum account size to qualify for no annual fees or inactivit y fees (1) | $25,000 for RRSPs, $10,000 for non-registered | $25,000 for RRSPs, $10,000 for non-registered | $15,000 across all accounts or two trades per quarter | $15,000 across all accounts | $25,000 for RRSPs, $10,000 for non-registered | $25,000 for RRSPs or $100K across all accounts | $20,000 across all accounts or five trades per year | $25,000 across all accounts or two trades per quarter | $5,000 across all accounts | $15,000 across all accounts or three trades per quarter | $25,000 across all accounts or 12 trades per year | $15,000 across all accounts | $5,000 across all accounts |
| Basic online equity trading commission (2) | $9.95 | $6.95 | $8.88 | $9.95 | $9.88 | $9.95 | $9.95 | $8.75 | 1¢ per share ($4.95 min, $9.95 max) | $9.95 | $9.99 | $9.99 | $9.99 |
| Are lower or higher commissions charged in different circumstances? | No | As low as $4.95 for active traders | No | As low as $5 for active traders | $8.88 for Advance banking clients; $6.88 for Premier clients | No | $6.95 if 30 trades per quarter | $6.95 if 150 trades per quarter or assets > $500K | 1¢ per share ($6.95 max) or $4.95 with data plans | $6.95 if 150 trades per quarter | $4.99 if 150 trades per quarter; $24.99 if assets < $50K | $7 if 150 trades per quarter | $0 for platform traders; $4.99 if 150+ trades per quarter |
| Basic options commission (2) | $9.95 + $1.25 per contract | $6.95 + $1.25 per contract | $8.88 + $1.25 per contract | $1.25 per contract (minimum $8.75) | $9.88 + $1.25 per contract | $9.95 + $1.25 per contract | $9.95 + $1.25 per contract | $8.75 + $1.25 per contract | $9.95 + $1.25 per contract | $9.95 + $1.25 per contract | $9.99 + $1.25 per contract | $9.99 + $1.25 per contract | $9.99 + $1.25 per contract |
| Are commission-free ETFs available? | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ 60 selected ETFs | ✓ Free to buy, but not sell | ✗ | ✓ 50 selected ETFs | ✗ | ✓ Free to buy, but not sell |
| Can you hold U.S. dollars in registered accounts? | ✓ | ✗ | ✗ | ✓ | ✗ | ✗ | ✓ | ✓ $60 annual fee | ✓ | ✓ | _ U.S.-friendly RRSP is $120 annually | ✓ | ✓ $15/quarter |
| Does the brokerage provide personal rates of return? | ✗ | ✗ | ✓ | ✗ | ✗ | ✗ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✗ |
| Can you purchase bonds and GICs online? | ✓ | ✓ | Bonds only | Bonds only | Bonds only | Bonds only | Bonds only | ✓ | ✗ | ✓ | ✓ | Bonds only | ✓ |
| Is there an app for trading on your smartphone or tablet? | ✓ | ✓ | ✗ | ✗ | ✗ | ✗ | ✗ | ✓ | ✓ | ✗ | ✓ | ✗ | ✓ |
| What extras are available to active traders? | Better data, research and tools | Better data, research and tools, lower commissions | None | Multiple platforms, better data, lower commissions | None | None | Better data, lower commissions | Lower commissions | Multiple platforms, better data, lower commissions | Better data and access to research reports | FlightDesk platform, lower commissions, personalized service | Active Trader platform, lower commissions, research reports | Multiple platforms, better data, zero commissions |
| Is there an exclusive service for large accounts? | 5 Star Silver for assets > $250K and 5 Star Gold for >$500K | ✗ | ✗ | ✗ | Advance and Premier programs for large banking clients | ✗ | Distinctive Advantage/Private for assets > $500K and $1M | ✗ | ✗ | Royal Circle for assets > $250K | ✗ | President's Account for assets > $500K | ✗ |
| Is there an ETF | SmartFolio | ✗ | ✗ | ✗ | ✗ | ✗ | InvestCube | ✗ | Portfolio IQ | ✗ | ✗ | ✗ | ✗ |
| Does the site have live chat or call-back service? | Live chat | Live chat | ✗ | ✗ | Call-back service | ✗ | Call-back service | Live chat and call-back | Live chat and call-back | Live chat, screen-sharing service | Live chat and call-back | ✗ | Live chat |
| Average time to respond to a service request by email (3) | 25h | 36h | 18h | 7h | 11h | 32h | 25h | 10h | 58h | 47h | 13h | 34h | 30h |
| Best Features | Account opening process; mobile accessibility | Low everyday commissions; mobile access | New trading process; research tools; customization | Educational resources; customer service; active trader services | Global trading capability, including foreign currency accounts | Competitive commissions | InvestCube ETF service; educational resources | Customer service; market data; website design | Low commissions; website design; account opening | Banking integration; account management features | Website design; online account services; banking integration | Market data; global trading capabilities | Online account opening; services for active traders |
| Buyer Beware | Poor service response times; $5,000 minimum account size | Below average market data; poor service response times | Inconsistent website experience; below average market data | No online account opening process | Lack of online resources; no mobile app | Outdated website; no mobile app | Outdated website with below-average usability and functionality | ECN fees on some trades | ECN fees; poor service response times | Poor service response times; no tablet app | Very high commissions if assets are < $50,000 | Poor service; confusing website design | Recently increased basic commission |