Discount Brokerage Deals & Promotions – August 2013

ArchivedDealsAugust Discount Brokerage Deals Overview

The discount brokerage deals activity remains largely in a holding pattern as we move into August.  While there were a couple of noteworthy deals that expired in July, the bigger news last month was Questrade’s announcement that they would be re-introducing their unlimited trading offer.  Currently Questrade is offering the most promotions of any Canadian online brokerage however with four major promotions set to expire at the end of August and one in early September, there are plenty of opportunities for other discount brokerages to step up their promotion activity.   We’ll be watching the chatter closely this month as there are already signs certain discount brokerages are making some interesting moves to improve their existing and potential client experiences.

Expired Discount Brokerage Deals

The major deal that expired in mid-July was TD Direct Investing’s 50 Free Trade offer along with their transfer fee promotion.  Our search data shows that there is still some interest in the deal, so there is likely some appetite for this offer still out there. TD Direct Investing, however, rarely ran these kinds of deals in the past so it may be some time before something like it returns.

Extended Discount Brokerage Deals

Scotia iTrade’s Refer-a-Friend promotion has been extended to August 31st.

New Discount Brokerage Deals

Questrade announced the return of their Infinite Trading promotion which offers 3 months of commission-free trading for deposits of $50,000 or more.  For deposits between $10,000 and $24,999 they offer 1 month of commission free trading and for deposits between $25,000 and $49,999 new signups receive 2 months of commission-free trading.  This deal expires August 31st, 2013.

Discount Brokerage Deals & Promos

CompanyBrief DescriptionMinimum Deposit AmountCommission/Cash Offer 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 Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform.n/aDiscounted Commission RatesnoneFor more details click here none
Open a new margin account with National Bank Direct Brokerage before August 31st 2013 and receive a 1% discount of prime for a margin interest rate. Also, commission rates will be fixed at $6.95 for 3 months. Be sure to read the terms and conditions as well as understand the risks associated with trading on margin. Use promo code: "MARGIN2013” when signing up.n/a - while no minimum deposit is required, you must pass a credit check to qualify1% of prime rate for margin borrowing

$6.95 fixed commission rate for 3 months
Margin rate discount: 3 months

Commission rate discount: 3 months
Click here for margin promo details and
here for terms and conditions
August 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc$1,000$50 commission credit
nonenonenone
Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account.$1,000$50 commission credit (friend)
$100 commission credit (referrer bonus)
60 days Refer a friend none
Open a new account (TFSA, Margin or RRSP) by August 31st with A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code 100Free95 must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information.A)$1,000
B)$10,000
A)10 free trades
B)100 free trades
60 days100 commission-free tradesAugust 31, 2013
Open and fund a new registered, margin or TFSA account and fund it within 30 days with either A)$10,000 B )$25,000 or C)$50,000 and you will be eligible to receive either unlimited free trading for A) 1 month, B) 2 months or C) 3 months depending on your deposit amounts. You must the code UNLIMITED to qualify. This is open to new and existing clients. There's lots of fine print so be sure to read the details link.A)$10,000
B)$25,000
C)$50,000
Unlimited trading (No commissions charged on any trades placed)A) 31 days
B) 62 days
C) 90 days
Unlimited Free Trading OfferAugust 31, 2013
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:$199.80)
B) You(referrer): $100 cash or 50 free trades; Your "Friend": $100 cash or 50 free trades (max total value: $999)
60 daysRefer A Friend to Scotia iTrade August 31, 2013
Scotia iTradeOpen and fund a new Scotia iTRADE account with at least $25,000 before September 30, 2013 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code 100FT. See details link for further terms and conditions. $25,000100 commission-free trades ($999 value @ $9.99 commission rate)60 daysScotia iTrade 100 free trades + FlightDeskSeptember 30, 2013
Open a new account with National Bank Direct Brokerage before Oct. 31st and the commission rate for equity transactions will be fixed at $6.95 for 6 months. Use promo code: EVENT2013. Since this is unadvertised, you'll have to call their customer service line: 1-800-363-3511 for full details.$25,000$6.95 fixed commission rate for 6 months6 monthsClick here for a low-res version of flyer or here for a high-res version.October 31, 2013
If you refer a friend/family member who is not already a National Bank Direct Brokerage account holder to them, both you and your friend get a bonus of $100 each. The promotion code "FRIEND" must be used on the account application form. Read the details link for full terms and conditions. Note the maximum referral bonus per client is $1000. $25,000$100 referral bonus (referrer)
$100 referee (your "friend")
Payout occurs after 6 months Share $200 with a Friend Promotion October 31, 2013
Open a new account (TFSA, Margin or RRSP) and receive 30 days of commission-free trading and one month free of the US Advanced market data package. Use promo code ADVANTAGE when signing up. Offer is open to new clients only. There are a number of important conditions to qualify - be sure to read terms and conditions to the deal.$25,00030 days unlimited commission-free trading + 1 month free Advanced US market data package.30 days Advantage Promotion August 31, 2013
DisnatDisnat is celebrating its 30th anniversary by offering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You'll have to call 1 800 268-8471 and mention promo code Disnat30. See details link for more info.$50,000$300 commission credit6 monthsDisnat 30th Anniversary PromoAugust 30, 2013
BMO InvestorLineIf you refer a new client to BMO InvestorLine and they open an account with a)$50,000 - $249,999 or b)$250,000+ the referrer and the referee will both receive cash. The new account must be opened with the referral code specific to the referrer. A) $50,000 - $249,000
B) $250,000+
A) You(referrer): $200; Your Friend(referee): $50
B) You(referrer): $300; Your Friend: $100
Payout occurs after 60 days (subject to conditions).Refer-a-Friend terms and conditions can be located by logging into the InvestorLine panel under "account services" or by contacting BMO InvestorLine directlyDecember 31, 2013
BMO InvestorLineOpen a new account or upgrade an existing account with $100,000 and choose to receive either $250 cash back or 2000 Air Miles. Use Promo Code: BONUS250 to receive the cash back offer or BONUSAM (+ Air Miles Collector #) to receive the Air Miles offer. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully. $100,000
$250 Cash Back OR
2000 Air Miles
Payout occurs after 6 monthsAir Miles Promotion September 4, 2013

Transfer Fee Deals

CompanyBrief DescriptionMaximum Transfer Fee Coverage AmountDeposit Amount for Transfer Fee EligibilityDetails LinkDeadline
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 $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees$135$25,000 Transfer Fee Rebate none
Qtrade InvestorQtrade Investor will reimburse your transfer fee up to $125 when transferring a balance of $25,000 or more. For reimbursement, please mail or fax a copy of your statement from the transferring institution that shows the transfer charge to Qtrade Investor at 604.484.2627 and indicate your Qtrade Investor account number. $125$25,000 Transfer Fee Promo none
DisnatDisnat is celebrating its 30th anniversary by 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 1 800 268-8471 and mention promo code Disnat30. See details link for more info.$150$50,000Disnat 30th Anniversary PromoAugust 30, 2013

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