Canadian Online Discount Brokerage Pricing Review & Comparison – Registered Account Fees

Table of Contents:

  1. Introduction
  2. Overview of Common Account Types & CIPF Membership
  3. Commission Fees and Funding Requirements
  4. Overview of Registered Accounts – Fees and Funding Requirements
  5. Overview of Mobile Trading Enabled Sites
  6. Overview of Options Commission Pricing
  7. Conclusion


Last Updated: February 2017

Overview of Registered Accounts – Fees and Funding Requirements

In this section we cover the registered accounts such as the tax-free savings account (TFSA), registered retirement savings plan accounts (RRSP) and registered education savings plan (RESP) accounts that most discount brokerages offer.  It is important to note that for the investment oriented registered accounts there may be some fees associated with the account, which is less common than having a registered account at a bank geared towards simple savings.   Sometimes these fees are waived by having a balance of a certain amount or an activity level or both.

Also worth noting is the availability of US dollar accounts.  Discount brokerages that do not offer clients the option to have US dollar accounts will usually charge currency conversion fees on transactions that take place in US dollars (for example if a client buys shares of a company from a US listed exchange).  Those that do offer US dollar accounts will usually let clients choose which account they want to purchase/sell a security from, thereby giving them the chance to avoid necessary currency conversions if they buy US listed securities from their US dollar accounts.

To find out about any of the discount brokerages listed in our comparison tables, simply click on the logo and you will be taken to a detailed review of each discount brokerage. We’ve also got a current deals section to showcase promotional offers currently being advertised by discount brokerages.

While we strive for accuracy in our reporting, it is possible that information has changed since we’ve updated it without our knowing and it’s also possible that there may be a discrepancy between what we’ve reported and what each discount brokerage is actually offering and charging. Before making your decisions, please consult with the discount brokerages directly to verify any information you are using to make your decision.

Legend:

= Offered and Free

= Offered but at a price

= Not Offered

CompanyTFSARRSPRESP
Annual ChargeTransfer OutWithdrawalsUS Dollar AccountAnnual ChargeTransfer OutUS Dollar AccountAnnual ChargeTransfer OutUS Dollar Account
$0$135 (full)
$50 (partial)
$25$100 (if account <$25,000)$135 (full)
$50 (partial)
$50 (if account <$25 000)$135 (full)
$50 (partial)
$0$135$0$100 (if account <$25,000)$135$0$135
$0$125$0$50 (if account <$15,000)$125$0$125
Classic: $0*
Direct:$0*
(*subject to inactivity fee of $30/mo if account inactive for >3 months)
$125$0Classic: $100 (if account <$15 000)
Direct: $100 (if account is <$15 000 and <125 trades per year are made)
$125Classic: $50 (if account <$15,000)
Direct:Not Applicable
Classic: $125
Direct:Not Applicable
$0$135$0$100 (if account is <$25,000)$135$50$135
$0N/A$0 (for 1 withdrawal per month)$50$50 (per withdrawal)Not ApplicableNot ApplicableNot Applicable
$20$125$0$125* (*for 1 or more registered accounts)$125$125* (*for 1 or more registered accounts)$125
$100 per year (if account is <$20,000 by May 31st or if <5 commission generating transactions performed between June 1st - May 31st )$150$0$100 per year (if account is <$20,000 by May 31st or if <5 commission generating transactions performed between June 1st - May 31st )$150$100 per year (if account is <$20,000 by May 31st or if <5 commission generating transactions performed between June 1st - May 31st )$150
$0$125$0$60/Year$100 per year (if account <$25,000)$125$60/Year $100 per year (if account <$15,000)$125
$0$150 (full), $25 (partial)$0$0$150 (full), $25 (partial)$0$150 (full), $25 (partial)
$100 (if value of across all RBC Direct Investing accounts is <$15,000 ) ($25/quarter)$135$0$100 (if value of across all RBC Direct Investing accounts is <$15,000 ) ($25/quarter)$135$100 (if value of across all RBC Direct Investing accounts is <$15,000 ) ($25/quarter)$135
$0$150$0
$120/Year
$100 (if value across all accounts <$25,000 and <12 "commissionable" trades within a year )$150$120/Year$25 (if value across all accounts <$15 000)$150$120/Year
$0$135$0
$125 (full)
$100 (unless combined household value in all TDDI accounts is ≥$15,000; complete ≥3 commissionable trades/quarter)$135$100 (unless combined household value in all TDDI accounts is ≥$15,000; complete ≥3 commissionable trades/quarter)$135
$0$150$25 (partial)
$50 (full)
$15/QuarterFree$150$15/Quarter$25$150$15/quarter
Last updated: Feb. 2017

 

Next Page: Overview of Mobile Trading Enabled Sites

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