Discount Brokerage Deals & Promotions – April 2018

*Updated April 2* Spring is officially here and for DIY investor’s it’s already off to a great start. To begin with, there was a bullish sign heading into April as two online brokerages, Desjardins Online Brokerage and HSBC InvestDirect, elected to extend offers that were scheduled to expire at the end of March.

In fact, of the four deals set to expire at the end of March, two have already been extended and at least one more, from BMO InvestorLine, is on the way to replace the deal that officially expires on April 1st (it is still live at the time of publication). The only offer that is officially expired at the time of publication is from Virtual Brokers, however there is a strong likelihood that they will not be out of the promotions section for very long.

So, at the kick off to April, there are still two cash back offers on the board, and if the referral promotions are included in there, technically there are five offers on the deals board that DIY investors could use to get a cash bonus upon getting into a new account.

The category with the most offers, by far, is transfer fee coverage offers. As we observed last month, Qtrade Investor lowered the required minimum for investors to qualify from $25,000 to $15,000 and as such, are one of the most competitive offers of the group.

Investors looking for a trading commission-related offer – such as commission free trades or a discounted commission rate, have seven offers to choose from (not including referral offers) so there’s a healthy mix of bank-owned or independent brokerages to choose from in this category.

As always, if there are any other offers that we’ve not listed that might be of interest to other readers, feel free to leave a comment below.

Top cash back promotions at Canadian discount brokerages - April 2018

Top cash back promotions at Canadian discount brokerages – April 2018

Expired Offers

At the time of publication, Virtual Brokers’ discounted commission promotion offer expired.

Extended Offers

HSBC InvestDirect, which is normally somewhat selective in timing offers through the year, elected to extend their cash-back promotion making it and BMO InvestorLine the only two cash-back offers available to all investors.

Also extended was Desjardins Online Brokerage’s popular 1% commission credit offer. The timing coincides with the launch of their new logo as well – a positive sign they’re positioning for interesting activities to come.

New Offers

*Updated April 2: BMO InvestorLine just launched their latest promotion and it is an interesting one! Starting today (April 2nd) and going until May 31st, BMO InvestorLine is offering a cash back and commission-free trade combination promotion. This tiered deposit promotion offers between $50 and $500 for deposits ranging from $50,000 to $300,000+ as well as up to 20 additional commission-free trades which are good for 2 months. Combo offers are rare and the relatively close expiry date signal something very interesting for DIY investors looking for an online trading account to consider. See table below for more details.*

There were no new offers to report at the time of publication, however we’re on the lookout for possible offers coming soon from BMO InvestorLine.

Discount Brokerage Deals

  1. Cash Back/Free Trade/Product Offer Promotions
  2. Referral Promotions
  3. Transfer Fee Promotions
  4. Contests & Other Offers
  5. Digital Advice + Roboadvisor Promotions

Cash Back/Free Trade/Product Offer Promotions

CompanyBrief DescriptionMinimum Deposit AmountCommission/Cash Offer/Promotion TypeTime Limit to Use Commission/Cash OfferDetails LinkDeadline
Jitney TradeA Sparx Trading exclusive offer! Use the promo code "Sparx Trading" when signing up for a new account with Jitneytrade and receive access to their preferred pricing package.n/aDiscounted Commission RatesnoneFor more details click here none
Open and fund a new account (TFSA, Margin or RRSP) with at least $1,000 and you may be eligible to receive $88 in commission credits (up to 17 commission-free trades). Use promo code SPARX88 when signing up. Be sure to read terms and conditions carefully.$1,000$88 commission credit60 daysAccess this offer by clicking here: $88 commission-credit offer . For full terms and conditions,
click here.
none
Open and fund a new account (TFSA, Margin or RRSP) with at least $1,000 and you may be eligible to receive 5 commission-free trades. Use promo code 5FREETRADES when signing up. Be sure to read terms and conditions carefully.$1,0005 commission-free trades60 days 5 commission-free trade offer December 31, 2018
DisnatDesjardins Online Brokerage is offering new clients 1% of assets transferred into the new account in the form of commission credits (to a maximum value of $1,000). Minimum qualifying deposit is $10,000. To qualify, individuals will have to call 1-866-873-7103 and mention promo code DisnatTransfer or email: infodisnat@disnat.com. See details link for more info.$10,0001% of assets transferred in the form of commission-credits (max credits: $1,000)6 monthsDisnat 1% Commission Credit PromoMay 31, 2018
Open a new account at National Bank Direct Brokerage with at least a) $10,000 or B) $20,000+, and you may be eligible to receive up to A) 10 or B) 25 commission-free trades. For the 10 free trades offer, enter promo code FREE10 and for the 25 free trades offer enter promo code FREE25. This offer is also available to existing clients. Be sure to read terms and conditions for full details.A) $10,000
B) $20,000+
A) 10 commission-free trades
B) 25 commission-free trades
12 months Free Trades Campaign April 30, 2018
Open a new account with HSBC InvestDirect by transferring in at least A) $25,000; B) $100,000; C) $250,000; D) $500,000 or E) $1,000,000 or more from another Canadian financial institution and execute at least three commission-generating trades by April 30th, 2018, and you may be eligible to receive a cash bonus of up to A) $88; B) $188; C) $288; D) $688 or E) $988. Be sure to read terms and conditions for full details.A) $25,000
B) $100,000
C) $250,000
D) $500,000
E) $1M+
A) $88
B) $188
C) $288
D) $688
E) $988
Transfer-in bonus will be deposited by November 30, 2018. Winter Offer - Transfer-In Bonus April 30, 2018
Open and fund a new qualifying account with at least $25,000 and you may qualify for one month of unlimited commission-free trades and up to one month free of an advanced data package. Use promo code ADVANTAGE14 when opening a new account. Be sure to read terms and conditions for full details.$25,000commission-free trades for 1 month + 1 month of advanced data.1 monthActive Trader Program December 31, 2018
BMO InvestorLineOpen a new qualifying account with BMO InvestorLine or fund a qualifying existing account, with at least A) $50,000; B) $100,000 or C) $300,000+ in net new assets and you may be eligible to receive up to 20 commission-free equity trades plus A) $50 cash back; B) $150 cash back or C) $500 cash back. Commission-free trades are good for up to two months. In addition, eligible individuals can receive an extra $50 as part of the refer a friend program. Use promo code SPRING when signing up. Be sure to read the terms and conditions for more details on the offer.A) $50,000
B) $100,000
C) $300,000
20 commission-free equity trades AND
A) $50;
B) $150
C) $500.
Commission-free equity trades are good for up to two months.

Cash back will be deposited the week of January 21, 2019.

BMO InvestorLine Spring 2018 CampaignMay 31, 2018

Expired Offers

BMO InvestorLineOpen a new qualifying account with BMO InvestorLine or fund a qualifying existing account, with at least A) $100,000; B) $200,000 or C) $300,000+ in net new assets and you may be eligible to receive up to A) $200 or 20 commission-free equity trades; B) $400 or 40 commission-free equity trades; or C) $750 cash back or 75 commission-free equity trades. Commission-free trades are good for up to two months. In addition, eligible individuals can receive an extra $50 as part of the refer a friend program. Use promo code SPARXCASH when signing up for the cash back offer or SPARXTRADES when signing up for the commission-free equity trade bonus. Be sure to read the terms and conditions for more details on the offer.A) $100,000
B) $200,000
C) $300,000
A) $200 or 20 commission-free equity trades.
B) $400 or 40 commission-free equity trades.
C) $750 or 75 commission-free equity trades.
Cash back will be deposited the week of Nov. 12, 2018.

Commission-free equity trades are good for up to two months.
BMO InvestorLine Winter 2018 CampaignApril 1, 2018
Last Updated: Apr. 2, 2018 21:45 PT

Referral Promotions

CompanyBrief DescriptionMinimum Deposit AmountIncentive StructureTime Limit to Use Commission/Cash Offer DepositDetails LinkDeadline
Refer a friend to Questrade and when they open an account you receive $25 cash back and they receive either A) $25; B) $50; C) $75; D) $100; or E) $250 depending on the amount deposited amount. Enter code: 476104302388759 during account sign up to qualify. Be sure to read the terms and conditions for eligibility and additional bonus payment structure and minimum balance requirements.A) $1,000
B) $10,000
C) $25,000
D) $50,000
E) $100,000+
$25 cash back (for referrer per referral; $50 bonus cash back for every 3rd referral)
For referred individuals:
A) $25 cash back
B) $50 cash back
C) $75 cash back
D) $100 cash back
E) $250 cash back
Cash deposited into Questrade billing account within 7 days after funding period ends (90 days)
Refer a friend terms and conditions Code Number: 476104302388759none
Scotia iTradeIf you refer a friend/family member who is not already a Scotia iTRADE account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members' contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link.A) $10,000
B) $50,000+
A) You(referrer): $50 or 10 free trades; Your "Friend": $50 or 10 free trades (max total value:$99.90)
B) You(referrer): $100 cash or 50 free trades; Your "Friend": $100 cash or 50 free trades (max total value: $499.50)
60 daysRefer A Friend to Scotia iTrade tbd
BMO InvestorLineIf you (an existing BMO InvestorLine client) refer a new client to BMO InvestorLine and they open an account with at least $50,000 the referrer and the referee may both be eligible to receive $50 cash. To qualify the referee must use the email of the referrer that is linked to their BMO InvestorLine account. See terms and conditions for full details.$50,000You(referrer): $50; Your Friend(referee): $50
Payout occurs 45 days after minimum 90 day holding period(subject to conditions). BMO InvestorLine Refer-a-Friend October 31, 2018
Last Updated: Apr. 1, 2018 18:45 PT

Transfer Fee Promotions

CompanyBrief DescriptionMaximum Transfer Fee Coverage AmountMinimum Deposit Amount for Transfer Fee EligibilityDetails LinkDeadline
Transfer $15,000 or more to Qtrade Investor from another brokerage and Qtrade Investor may cover up to $150 in transfer fees. See terms and conditions for more details.$150$15,000 Transfer Fee Rebatenone
Transfer $15,000 or more to HSBC InvestDirect, and they will pay up to $150 in transfer fees.$150$15,0002018 Winter Offer - Transfer-In Bonus April 30, 2018
Transfer $15,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees.$135$15,000 Transfer Fee Rebate Details none
Transfer $20,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees.$135$20,000 Transfer Fee Rebate none
Transfer $25,000 or more from another brokerage and Credential Direct will cover up to $150 in transfer fees. Use promo code SWITCHME when signing up to qualify for the transfer promotion.$150$25,000 Credential Direct Transfer Fee Rebate none
Move your brokerage account to Questrade and they'll cover the transfer-out fee up to $150.$150$25,000 Transfer Fee Promo none
Transfer at least $25,000 or more in new assets to TD Direct Investing when opening a new account and you may qualify to have transfer fees reimbursed up to $150. Be sure to contact TD Direct Investing for further details.$150$25,000Contact client service for more information (1-800-465-5463).none
Transfer $25,000 or more to Virtual Brokers and they may cover up to $150 in transfer fees.$150$25,000 Transfer Fee promo April 30, 2018
Transfer $25,000 or more into a CIBC Investor's Edge account and they will reimburse up to $135 in brokerage transfer fees. Clients must call customer service to request rebate after transfer made.$135$25,000Confirmed with reps. Contact client service for more information (1-800-567-3343).none
DisnatDisnat is offering up to $150 to cover the cost of transfer fees from another institution. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You'll have to call 1-866-873-7103 and mention promo code DisnatTransfer. See details link for more info.$150$50,000Disnat 1% Commission Credit PromoMay 31, 2018
BMO InvestorLineOpen a new qualifying account with BMO InvestorLine or fund a qualifying existing account, by transferring in at least $200,000+ in net new assets and you may be eligible to have transfer fees covered up to $200. Use promo code SPARXCASH when signing up to also be eligible for cash back offer or SPARXTRADES to be eligible for the commission-free trade offer. Be sure to read the terms and conditions for more details on the offer.$200$200,000BMO InvestorLine Winter 2018 CampaignApril 1, 2018
Last Updated: Apr. 1, 18:45 PT

Other Promotions

CompanyBrief DescriptionMinimum Deposit Amount RequiredDetails LinkDeadline
DisnatDesjardins Online Brokerage, in conjunction with MoneyTalks, is offering 3 months of the "Inside Edge" investor information service to Desjardins Online Brokerage clients. Use promo code DESJ2016 during checkout to qualify. Be sure to read full terms and conditions for more information.n/aMoneyTalks Inside Edge Discount none
DisnatDesjardins Online Brokerage is offering $50 in commission credits for new Disnat Classic clients depositing at least $1,000. See terms and conditions for full details.$1,000Broker@ge 18-30 Promotionnone
Scotia iTradeScotiabank StartRight customers can receive 10 commission-free trades when investing $1,000 or more in a new Scotia iTrade account. Trades are good for use for up to 1 year from the date the account is funded. Use promo code SRPE15 when applying (in English) or SRPF15 when applying in French. Be sure to read full terms and conditions for full details.$1,000 StartRight Free Trade offer none
Last Updated: Apr. 1, 2018 18:45 PT

Digital Advice + Roboadvisor Promotions

Robo-advisor / Digital advisorOffer TypeOffer DescriptionMin. DepositReward / PromotionPromo CodeExpiry DateLink
Discounted ManagementOpen and fund a new Questrade Portfolio IQ account with a deposit of at least $1,000 and the first month of management will be free. For more information on Portfolio IQ, click the product link.$10001st month no management feesKDKFNBBCNoneQuestrade Portfolio IQ Promo Offer
Discounted ManagementOpen a new account with BMO SmartFolio and receive one year of management of up to $15,000 free. See offer terms and conditions for more details.$1,0001 year no management feesSTSF
April 1, 2018SmartFolio New Account Promotion
Cash Back - ReferralBMO SmartFolio clients will receive $50 cash back for every friend or family member who opens and funds a new SmartFolio account. Friends and family referred to SmartFolio will receive $50 cash back for opening and funding an account, plus automatic enrollment into SmartFolio’s mass offer in market at the time. See offer terms and conditions for more details.

$1,000$50 cash back (referrer)
$50 cash back (referee)
Unique link generated from SmartFolio required.NoneSmartFolio Website
Transfer Fee CoverageTransfer at least $25,000 into Virtual Wealth when opening a new account and you may be eligible to have up to $150 in transfer fees covered by Virtual Wealth.$25,000 up to $150 in transfer fees coveredNoneNoneContact customer service directly for more information.
Last Updated: Apr. 1, 2018 18:45 PT

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