Broker Comparison - Canada

Last updated: Wednesday, January 20, 2010

A detailed report on Canadian brokers with a comparison of equities and options trading charges, active trader incentives, trading interfaces etc. Trades in American equities and options are charged in American Dollars.

Bank of Montreal (BMO InvestorLine)

Stocks:
   Online or Automated Telephone Trading:
      $29 (Up to 1,000 shares of any value)
      1.5% (1,000+ shares priced under $2)
      $0.03/share (1,000+ shares priced $2+)
   Phone (InvestorLine representative)

Options:
Online: 20% off Phone rates
Phone

Active Trader: $9.95 Flat Fee
(Assets over $100,000 or over 30 trades/quarter)
Interface:

Stocks
Options
Act. Trader
Interface

CIBC (Investors Edge)

Stocks:
   Online:
      $28.95 (Up to 1,000 shares or trade value under $2000)
      3¢/share (1,000+ shares & stocks priced $2.01)
      1.5%, (1,000+ shares & stock priced upto $2)
   Phone

Options

Active Trader:
   Edge Advantage
      Initial Fee: $395 per year
      Trade Package: 50 equity/option trades
         (plus $1.25 per option contract)
      Additional trades: $6.95 per equity/option trade
         (plus $1.25 per option contract)
Interface:

Stocks
Options
Act. Trader
Interface

Credential Direct (partnership with Citizens Bank)

Stocks:
   Online:
      $19 (Up to 1,000 shares or trade value under $2000)
      2¢/share, max $250 (1,000+ shares & stocks priced $1+)
      1%, min $19, max $250 (1,000+ shares & stock priced under $1)
   Phone: $14 + online charge
Options:
   Online:
      $19 + $1.25 per contract
   Phone:
      $33 + $1.25 per contract
Active Trader: $9.95 Flat Fee (25 trades/quarter)
Interface:

Stocks
Options
Act. Trader
Interface

Disnat (Desjardins)

Stocks:
Online Phone

Options:
Online Phone

Active Trader: $9.95 Flat Fee (10 trades/month)
Interface:

Stocks
Options
Act. Trader
Interface

National Bank Direct Brokerage

Stocks:
   Online or Interactive Voice Broker:
      $28.95 (Up to 1,000 shares)
      1.5% / share, min $28.95 (1,000+ shares & stocks priced up to $2)
      3¢ / share, min $28.95 (1,000+ shares & stocks priced $2+)
   Phone

Options: Charges

Interface:

Shares
Options
Interface

RBC Direct Investing

Stocks:
   Online:
      $28.95 (Up to 1,000 shares)
      1.5%, min $28.95 (1,000+ shares & stocks priced upto $2)
      3¢ per share, min $28.95 (1,000+ shares & stock priced over $2)
   Phone

Options:
   Online:
      $6.95 Flat Fee + $1.25 per contract (150+ trades/quarter)
      $9.95 Flat Fee + $1.25 per contract (30-149 trades/quarter)
   Phone

Active Trader:
   Stocks:
      $6.95 Flat Fee (150+ trades/quarter)
      $9.95 Flat Fee (30-149 trades/quarter)
   Options:
      $6.95 Flat Fee + $1.25 per contract (150+ trades/quarter)
      $9.95 Flat Fee + $1.25 per contract (30-149 trades/quarter)
Interface:

Stocks
Options
Act. Trader
Interface

online Online phone Phone Representative

Feedback, suggestions, comments....

Phone Brokerage
Stock Price	Canadian Eq. (Ca$)	American Eq. (US$)
$0 - $0.245	2.5% of principal value	3% of principal value
$0.25 - $1	$35 + 1/2¢/ share	$39 + 2¢/ share
$1.01 - $2	$35 + 2¢ / share	$39 + 3¢ / share
$2.01 - $5	$35 + 3¢ / share	$39 + 4¢ / share
$5.01 - $10	$35 + 4¢ / share	$39 + 5¢ / share
$10.01 - $20	$35 + 5¢ / share	$39 + 6¢ / share
$20.01 and over	$35 + 6¢ / share	$39 + 7¢ / share
$30.01 and over	NA	$35 + 8¢ / share

Options (Canada & US)
Option Price	Commission / Contract
$0 - $2	35 + $1.50
$2.01 - $3	$35 + $2
$3.01 - $4	$35 + $2.50
$4.01 - $5	$35 + $3
$5.01 and over	$35 + $3.50

Equities (Canada & US)
Stock Price	Canadian Eq. Comm.	US Eq. Comm.
$0 - $0.245	2.50%	3.00%
$0.25 - $1.00	$35 + 1/2 ¢ per share	$39 + 2 ¢ per share
$1.01 - $2.00	$35 + 2 ¢ per share	$39 + 3 ¢ per share
$2.01 - $5.00	$35 + 3 ¢ per share	$39 + 4 ¢ per share
$5.01 - $10.00	$35 + 4 ¢ per share	$39 + 5 ¢ per share
$10.01 - $20.00	$35 + 5 ¢ per share	$39 + 6 ¢ per share
$20.01 and over	$35 + 6 ¢ per share	$39 + 7 ¢ per share
$20.01 and over		$39 + 8 ¢ per share

Options (CA$ & US$)
Option Price	Online Comm.	Phone Comm.
$0.00 - $2.00	$28 + $1.20 per contract	$35 + $1.50 per contract
$2.01 - $3.00	$28 + $1.60 per contract	$35 + $2.00 per contract
$3.01 - $4.00	$28 + $2.00 per contract	$35 + $2.50 per contract
$4.01 - $5.00	$28 + $2.40 per contract	$35 + $3.00 per contract
$5.01 and over	$28 + $2.80 per contract	$35 + $3.50 per contract

Equities Online
Trades/Month	Stock Price	Commission
Upto 9	Upto $2	1.5% of transaction value (min $29)
Upto 9	$2.01 and over	Upto 1000 shares: $29 Over 1000 shares: 3 ¢ per share (min $29)
10 or more	Upto $2	1% of transaction value (min $9.95)
10 or more	$2.01 and over	Upto 1000 shares: $9.95 Over 1000 shares: 1¢ per share (min $9.95)

	Canadian Eq. (Ca$)	American Eq. (US$)
Stocks priced up to $2	2%	2.5%
Stocks priced over $2	$44.95 + 4¢/share	$44.95 + 6¢/share
Less than $2000	$44.95	$44.95
Minimum fees	$44.95	$44.95