Discount Brokerage Deals & Promotions – August 2018

*Updated: Aug. 18* Welcome to the August edition of the discount brokerage deals and promotions section where, at least at the outset, the theme of the month appears to be ‘status quo’.

It is worth noting that unlike most months thus far, August is starting off on a relatively quiet note, with no deals expiring or launching at the outset of the month. And, although nothing new showed up, things weren’t entirely still, as Desjardins Online Brokerage quietly extended their commission-free trade offer forward another month.

For DIY investors, it’s important to note that despite the quiet start to the month, online brokerages are busy working behind the scenes through the summer for what will likely be a very eventful fall. At the end of August Scotia iTRADE’s offer is set to expire and shortly into September BMO InvestorLine’s current promotion is also set to turnover.

As such, we’ll be keeping an eye out for any movement in the deals space through the month, as this would be an ideal window for a brokerage not currently in the deals pool to ‘make a splash.

As always, if there are any offers that you think would be worth sharing for other DIY investors, please let us know in the comments section below.

Extended Deals

Desjardins Online Brokerage was the only online brokerage to officially (and quietly) extend their offer. The new expiry date for their commission-free trade offer is now October 31st, 2018.

Expired Deals

There are no expired deals to report at this time.

New Deals

*Updated: Aug. 18 – HSBC InvestDirect has rolled out a summer promotional offer consisting of 30 commission-free trades. The promo, which stated it officially started in mid-July, looks to have finally been published on the HSBC InvestDirect website, and will run until the end of September. For more information about this deal, be sure to check out the details below. *

*Updated: Aug. 10 – Every now and again, there is a deal or promotion that makes a big splash in the online brokerage space. After a quiet start to the month, Qtrade Investor has definitely kicked the summer deals action back up to sizzling hot as they launched a refer-a-friend program with a cash back bonus. The deal itself offers up $25 cash to both the referrer and referee and requires a minimum deposit of $1,000, however the bigger prize for DIY investors is that is a very popular online brokerage just stepped into the promotions pool with a compelling offer and one that other online brokerages will find hard to ignore. See table below for more details.*

There are no new deals to report at this time.

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 at HSBC InvestDirect and you may be eligible to receive up to 30 commission-free equity trades (North American equities only). See terms and conditions for full details.n/a30 commission-free trades60 daysClick to access HSBC InvestDirect Summer PromotionSeptember 28, 2018
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 PromoOctober 31, 2018
Scotia iTradeOpen and fund a new account with Scotia iTRADE (or fund an existing account) with at least A) $25,000; B) $50,000; C) $100,000; D) $250,000; E) $500,000 or F) $1M+ and you may be eligible to receive a pre-paid Visa card worth A) $100; B) $200; C) $500; D) $800; E) $1,100 or F) $1,500. Use promo code 18SUM when registering. Be sure to read terms and conditions for more details. NOTE: this offer is open to existing Scotia iTRADE clients only (who were clients prior to May 14, 2018).A) $25,000
B) $50,000
C) $100,000
D) $250,000
E) $500,000
F) $1M+
A) $100
B) $200
C) $500
D) $800
E) $1,100
F) $1,5000
pre-paid Visa card will be awarded by Jan. 31, 2019.iTRADE Summer Promo August 31, 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 account or fund an existing account at BMO InvestorLine with new assets worth at least A) $50,000; B) $100,000; C) $300,000 or D) $500,000+ and you may be eligible to receive a cash back reward of up to A) $75; B) $200; C) $500 or D) $1000. Use promo code SPARXCASH when registering to qualify. Be sure to read full terms and conditions.A) $50,000
B) $100,000
C) $300,000
D) $500,000+
A) $75
B) $200
C) $500
D) $1000
Cash back will be deposited the week of April 19, 2019.

BMO InvestorLine Summer 2018 CampaignSeptember 3, 2018
Last Updated: Aug. 18, 2018 00:55 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
If you (an existing Qtrade Investor client) refer a new client to Qtrade Investor and they open an account with at least $1,000 the referrer and the referee may both be eligible to receive $25 cash. See terms and conditions for full details.$1,000$25 cash back (for both referrer and referee)Cash deposited at the end of the month in which referee's account fundedRefer A Friend to Qtrade Investornone
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: Aug. 10, 2018 21:30 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 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
Scotia iTradeTransfer at least $25,000 in new assets to Scotia iTRADE and you may qualify to have transfer fees reimbursed up to $150.$150$25,000iTRADE Summer Promo August 31, 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 PromoOctober 31, 2018
Last Updated: August 1, 23:30 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: Aug. 1, 2018 23:30 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.$1,0001st month no management feesKDKFNBBCNoneQuestrade Portfolio IQ Promo Offer
Cash BackOpen and fund a new or existing SmartFolio account with at least $1,000 and you could receive 0.5% cash back up to $200. Use promo code PROMO1000 when opening a new account. See terms and conditions for full details. This offer can be combined with the refer-a-friend promotion.$1,0000.5% cash back to a maximum of $200.PROMO1000September 4, 2018SmartFolio Cash Back Promo
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 30, 2019SmartFolio 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: Aug. 1, 2018 23:30 PT

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