Canadian Online Brokerage Review – Credential Direct

Canadian Discount Broker - Credential Direct

Mailing Address
800 – 1111 Georgia Street
Vancouver, BC
V6E 4T6

Email Address:

Phone: 1-877-742-2900

Customer Service Hours: Mon to Fri 6:15 a.m. to 3 p.m PT

Credential Direct Review

Updated on: July 9, 2014
Credential Direct is an independent online brokerage headquartered in Vancouver BC. Although they may not be as recognizable name in the online discount brokerage world as many of their peers, they’ve been around since 2000 and are part of Credential Financial Inc. Credential Direct primarily partners with credit unions to provide their clients with access to online trading accounts.

Like its peers, Credential Direct offers clients the ability to trade stocks, ETFs bonds, mutual funds and options in both registered accounts and non-registered accounts.

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Quick Info

Standard Equity Commission $8.88
Best Commission Price $8.88
Minimum to Open Account Not Required
Maintenance/Inactivity Fees $25/quarter
Commission Free ETFs No

» Get Full Pricing Details

Pricing & Fees

(Updated: July 9, 2014)

Credential Direct has now changed it’s commission price structure. Effective July 9, 2014, the commission pricing at Credential Direct has been lowered and simplified so that all clients are eligible for the $8.88 standard commission rate. As such, they are also removing their “active trader” program.  The new pricing structure is much easier to follow than its predecessor.  It should be noted that fees such as SEC fees, ECN fees or any additional stock exchange fee is extra and will be added onto the total commission for a given trade.

Options commission pricing has also been reduced . For active traders, options commission pricing is $8.88 + $1.25 per contract. Note that assignments and exercises of options are priced according to the regular telephone order commission rate.

As part of the new pricing structure, Credential Direct is introducing an “administration fee” of $25 per quarter.  Like some of their competitors, Credential Direct does offer several ways in which clients can avoid having to pay these fees including:

  1. Having a combined (across all accounts) balance of at least $15,000
  2. Making at least 2 commission generating within a quarter
  3. Have an active pre-authorized contribution plan of at least $100 per month

Clients who have had their account for 6 months or less are also exempt from the administration fee.

Account Types

Credential Direct offers clients both non-registered and registered online trading accounts.

Non-registered trading accounts with Credential Direct include both cash and margin accounts. For their margin accounts, a minimum balance of $2,000 must be maintained.

Their registered accounts include tax-free savings accounts (TFSAs), registered retirement savings plans (RRSPs) and registered education savings plans (RESPs). For registered accounts clients cannot use margin or short stocks.

While clients can trade US stocks, Credential Direct will charge mandatory foreign exchange fees in both registered and non-registered accounts, so it is important to consider the amount of trading of US-listed securities as this activity can add to the cost per trade.


The online trading platform offered by Credential Direct is a fairly standard web browser based interface. Basic functionality is available for order entry as well as for conducting technical analysis research. There are ‘real time’ quotes available as part of their standard platform. In addition to the desktop site, there is also a mobile website available which users can trade and manage their account from.

Reviews & Ratings

Review What Review Measures Score Date of Ranking
Dalbar Canada Review Client Service Not Rated
Not Rated
January 2015
January 2014
Globe and Mail Review Overall Impression Letter Grade “C”
9th out of 12
Letter Grade “C”
November 2014
November 2014
November 2013
JD Power Review Investor Satisfaction Not Rated
Not Rated
September 2014
September 2013


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Home Community Canadian Online Brokerage Review – Credential Direct

This topic contains 2 replies, has 2 voices, and was last updated by  Bruce Barbour 3 months, 4 weeks ago.

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  • #10168 Reply

    Bruce Barbour

    Data is late in Credential. Contact with Credential agent to complain that stock trade totals and price were far behind and reported late. Agent advised but was apparently unaware that the TSE is a major exchange.

    #10169 Reply
    Profile photo of Sparx_Admin

    Thanks for your comment Bruce. Depending on the provider some data can be delayed (especially if it is ‘free’ data). Even with some paid data streams, there can be delays or outages. Out of curiousity, how far behind was the data and how did you determine price information was being relayed ‘late’?

    #9988 Reply
    Profile photo of Sparx_Admin

    (Updated: July 9, 2014) Credential Direct has now changed it’s commission price structure. Effective July 9, 2014, the commission pricing at Credentia[See the full post at:]

    • This topic was modified 3 months, 4 weeks ago by Profile photo of Ken Y Ken Y.
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