CIBC Investor’s Edge Review
Canadian Online Brokerage Review
Pricing Fees
In 2014, CIBC Investor’s Edge did something many did not think they would do: lower commission prices to beneath that of their bank-owned competitors. While they were among the last of the bank-owned discount brokerages to lower their pricing under the $10 mark (down from $28.95+ per standard commission trade), Investor’s Edge took things down much further than their competitors by lowering their standard commission price to $6.95.
In 2018, CIBC Investor’s Edge introduced student friendly pricing which lowered the standard commission pricing to $5.95 per trade and waived the annual fee associated with account balances less than $10,000.
There is also an active trader pricing available which is $4.95 per trade for individuals (or households) that trade at least 150 times per quarter. The ability to pool assets by household and have that count towards trading thresholds is something that is relatively unique to CIBC Investor’s Edge and it is what makes their current pricing very challenging for others to match let alone beat.
As with some of their competitors, CIBC Investor’s Edge does have an “account maintenance” fee. The fee of $100 is charged annually for non-registered accounts with balances that are less than $10,000 (calculated at the close of business on Sept. 15th) or registered retirement accounts (RRSP, RESP, RIF, LIF or LIRA) with balances that are less than $25,000. This fee is waived for TFSA and RESP accounts, regardless of account balances.
Pricing for options contracts also mirror the standard and active trader commission structure. Standard option pricing is $6.95 + $1.25 per contract and active trader options pricing is $4.95 + $1.25 per contract.
Account Types
CIBC Investor’s Edge offers clients the ability to trade online in “non-registered” and “registered” accounts.
Like other discount brokerages, the non-registered accounts at Investor’s Edge include cash and margin accounts in which clients can short stocks as well as trade options. For account balances of under $10,000, there is a $100 per year “account maintenance” fee that is assessed (the fee is assessed based on the balance as of close of business on September 15th).
For the registered accounts, CIBC Investor’s Edge offers the tax-free savings account (TFSA), registered-retirement savings plan accounts (RRSPs) and registered education savings plan (RESP) accounts. There are “general administration” fees of $100 per year for RRSP accounts that do not meet the minimum balance threshold of $25,000. Neither TFSAs nor RESPs have administration fees.
Unlike some of their discount brokerage peers, CIBC Investor’s Edge does not have US dollar registered accounts so clients will have to factor in currency conversion fees into their costs if they plan on trading US-listed securities.
Platform
The online trading platforms offered by CIBC include a standard web-based platform as well a mobile trading app.
The standard web-based trading platform allows for most of the essential functions for order entry, creating/monitoring watchlists as well as basic chart and fundamental research. It is comparable to most of the standard online trading interfaces offered by other online brokerages.
In addition to the web-based platform, CIBC also offers a mobile brokerage app which is available on iPhone and Android.CIBC Investor’s Edge Brokerage Experience
CIBC Investor’s Edge provides a great web and app experience, although the trading fees are higher than the smaller brokerages, it is the cheapest among the large brokerages. CIBC Investor’s Edge also has the advantage of providing all account types offered by brokerages. CIBC Investor’s Edge trends towards the right direction with a solid trading app and with competitive fees.
Can I use CIBC Investor’s Edge Brokerage to buy Bitcoins or other cryptocurrencies?
CIBC Investor’s Edge does not exchange any sort of cryptocurrency. This means that CIBC Investor’s Edge does not trade Bitcoin, Ethereum or any other forms of cryptocurrency in the market.
Additionally, CIBC Inverstor’s Edge forbids customers from purchasing cryptocurrency with cards, proving that CIBC is not Crypto friendly.
How does CIBC Investor’s Edge Brokerage compare to other Brokerages?
CIBC Investor’s Edge seems like an all-rounder, everything is good but nothing sticks out. This could be appealing if you are looking for a big brokerage that has it all without missing features that a small brokerage may have.
Who is CIBC Investor’s Edge Brokerage Best For?
CIBC Investor’s Edge has the lowest trading fee among all of the other large banks, however it is lacking a lot of the modern features brokerages are heading towards such as commission free investing. CIBC Investor’s Edge is great however as it does provide all account trading types.
Does CIBC Investor’s Edge Brokerage Have an app? Full review!
CIBC Investor’s Edge currently does have an app for iPhone,
CIBC Investor’s Edge also has an app for iPad. CIBC Investor’s Edge also provides a mobile web browser interface if you don’t wish to install the app.
CIBC Investor’s Edge currently does have an app for Android, Google, and Samsung.
Therefore, CIBC Investor’s Edge fully supports mobile based trading.
What is CIBC Investor’s Edge Brokerage Fees?
Online trading fees
Equity and Exchange Traded Funds (ETF) Trades
Canadian and U.S. equities and ETFs |
$6.95
per trade |
Student Pricing
You’re eligible if you have a CIBC Smart™ Account for students |
$5.95
per trade |
Active Trader Pricing
You’re eligible to enroll if you make more than 150 trades per quarter
Call us to enroll |
$4.95
per trade for enrolled clients only |
Option Trades
Canadian and U.S. options |
$6.95 + $1.25
per contract |
Student Pricing
You’re eligible if you have a CIBC Smart™ Account for students |
$5.95 + $1.25
per contract |
Active Trader Pricing
You’re eligible to enroll if you make more than 150 trades per quarter
Call us to enroll |
$4.95 + $1.25
per trade for enrolled clients only |
Mutual Funds
CIBC no load funds and all other funds |
No Additional commission |
Source
What account types does CIBC Investor’s Edge Brokerage offer?
Does CIBC Investor’s Edge Brokerage have TFSA accounts?
CIBC Investor’s Edge Brokerage offers TFSA accounts in both Canadian and US Dollar. Is there a fee to use the TFSA accounts? No, there is no fee to use the TFSA accounts.
Does CIBC Investor’s Edge Brokerage have RRSP accounts?
CIBC Investor’s Edge Brokerage offers RRSP accounts in both Canadian and US Dollar. Is there a fee to use the RRSP accounts? No, there is no fee to use the RRSP accounts.
Does CIBC Investor’s Edge Brokerage have RESP accounts?
CIBC Investor’s Edge Brokerage offers RESP accounts in only Canadian and not US Dollar. Is there a fee to use the RESP accounts? No, there is no fee to use the RESP accounts.
Does CIBC Investor’s Edge Brokerage have Cash accounts?
CIBC Investor’s Edge Brokerage offers Cash accounts in both Canadian and US Dollar. Is there a fee to use the Cash accounts? No, there is no fee to use the Cash accounts.
Does CIBC Investor’s Edge Brokerage have Margin accounts?
CIBC Investor’s Edge Brokerage offers Margin accounts in both Canadian and US Dollar. Is there a fee to use the Margin accounts? No, there is no fee to use the Margin accounts.
How to switch to CIBC Investor’s Edge Brokerage?
Complete one of the forms below and follow the instructions on the form.
Transfer Request – Registered Investments (PDF, 845 KB)Opens in a new window.
Transfer Request – Non-Registered Account (PDF, 840 KB)Opens in a new window.
Note: The forms may not open in some browsers. We recommend using Internet Explorer or saving the PDF and opening with Adobe Acrobat Reader.
Source
How to switch from CIBC Investor’s Edge Brokerage?
To switch from CIBC Investor’s Edge Brokerage, please refer to the guide for the brokerage you are looking to transfer from. SparxTrading takes pride in providing up to date information, please see the brokerage review you are looking to transfer to for assistance on how to transfer to that brokerage.
