Canadian Online Brokerage Review – CIBC Investor’s Edge

Mailing Address
800 Bay Street, 2nd Floor
Toronto, ON,
M5S 3A9
Email Address: [email protected]
Phone: 1-800-567-3343
Customer Service Hours:
Mon to Fri 8 a.m. to 8 p.m ET

CIBC Investor’s Edge Review

Updated on: Jun 1, 2020
As a bank-owned online brokerage, CIBC Investor’s Edge is able to offer its online trading clients the ability to manage and access products from its banking arm. Over the course of 2013, this discount broker made a few announcements, most notably regarding their elimination of RESP account fees. In late 2014, CIBC Investor’s Edge lowered their standard commission pricing to put them back in the race with both bank-owned and independent online brokerages. Since then, CIBC Investor’s Edge has been gradually implementing small improvements to their online experience. In 2018, CIBC Investor’s Edge accelerated some of their enhancements for DIY investors including introducing student friendly pricing on commissions, charging $5.95 flat per trade, and ramping up their investor education and content offerings.

Like their peers, CIBC Investor’s Edge offers online trading in stocks, ETFs, mutual funds and bonds. They also have pricing plans for standard and active traders/investors.

Quick Info

Standard Equity Commission $6.95
Best Commission Price $4.95
Minimum to Open Account Not Required
Maintenance/Inactivity Fees $100/year
Commission Free ETFs No
Student Pricing Offer Yes

» Get Full Pricing Details

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 balances that are less than $10,000 (calculated at the close of business on Sept. 15th). This fee is waived for individuals who also hold a registered account such as an RRSP, RESP, RIF, LIF or LIRA.

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.


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.

Reviews & Ratings

Review What Review Measures Score Date of Ranking
Dalbar Canada Review Client Service Below Average
Below Average
January 2015
January 2014
Globe and Mail Review Overall Impression Letter Grade “C”
Letter Grade “C”
Letter Grade “C+”
9th out of 12
Letter Grade “C-”
10th out of 12
Letter Grade “C”
8th out of 12
Letter Grade “D”
February 2019
February 2018
December 2016
December 2016
December 2015
December 2015
November 2014
November 2014
November 2013
JD Power Review Investor Satisfaction 2nd out of 8
2nd out of 8
8th out of 10
3rd out of 10
7th out of 10
7th out of 7
6th out of 11
June 2019
September 2018
September 2017
September 2016
September 2015
September 2014
September 2013
MoneySense Top Pick – Fees & Commissions July 2017


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  1. I just tried to apply for a CIBC Investor’s Edge account. Oie. The online process is confusing, to say the least, and includes documents that I can only assume are necessary for the protection of CIBC interests and holdings. I have done some investing in the past, so the game is not entirely new to me, but this application is a nightmare. AND, once you’ve gone through the 8 page online process, you have to print the application and bring it in with you. AND you have to remember the other X number of forms which are, unfortunately, as poorly explained as the main application process itself. The entire purpose of self-managed investment accounts is so that the individual can manage his own account. But getting through the application basically requires a degree in accounting, plus at least one futher designation in tax-related accounting and investing, a couple decades of experience in investing and the stock market and a law degree just to understand the brick of paper I was REQUIRED to print. Suffice to say I am cancelling my Investor’s Edge application and going with someone else.

    • Thanks for the detailed comment. While it is unfortunate to hear you had a bad experience the comment will be helpful for others to know what they’re getting into. Getting on board with anything these days by paper is a rarity so having to print out the extensive paperwork that accompanies an online brokerage account is understandably frustrating (if not shocking). Even though the account could be opened via the branch or by having forms mailed neither of those options feels like it should be required in an ‘online world’. That said, it looks as if CIBC Investor’s Edge is undergoing some kind of transition with their site so hopefully the account opening process you described is going to be included in the future improvements. Best of luck in the meantime in the search for a smoother experience getting online.

  2. from above:
    “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.”

    There is continuous rumours that in RRSP there actually is no conversion spread at CIBC, but i am not sure this has ever been confirmed explicitly, and as a strategy. Do you have anymore insight, as this would pretty much make the absence of US $ account as almost on non-issue (except maybe look wise)

    • Thanks for your great comment – we’ll look into this one and see what information we can get/share.