*Updated Nov. 18th 2013*
It’s hard to believe that November is already here. Most of the Canadian discount brokerages appear to be moving cautiously towards the end of the year with no new deals being offered this month. And so things appear quiet – perhaps too quiet. [updated 11/18/13] Well, it looks like the deal silence was broken after all. TD Direct Investing has announced a 50 commission-free trade deal (see details below) that runs until December 20th. This deal is similar to the one they offered in June 2013.
With several major deals set to expire at the end of this month and the major discount brokerage rankings from the Globe and Mail expected out soon, the current holding pattern discount brokerages find themselves in could reflect a bit of calm before the storm. Last year at this time, for example, Virtual Brokers held their 150 free trade offer alongside the news that they took top spot in the Globe and Mail discount brokerage rankings.
Two of the major discount brokerage deals set to expire at month’s end include the “100 commission free trade” offers from Questrade and Scotia iTrade. Currently, BMO InvestorLine, Questrade and Scotia iTrade are members of the ‘century club’ of discount brokerages offering at least 100 commission free trades.
Another big deal set to expire at the end of November is RBC Direct Investing’s 25 commission free trade offer. Amongst the big bank-owned discount brokerages, their 25 commission-free trades have the longest usage window. Clients taking advantage of this deal have up to a year to use the commission-free trades.
Don’t forget to check in this month as there may be additional activity in the deals section as/when the Globe and Mail discount brokerage rankings are announced. The deal analytics section included last month will actually find itself having a section of its own going forward (link will be posted shortly).
As always, if there is any deal that was missed, just drop us a note.
This past October, two of National Bank Direct Brokerage’s deals expired. Gone are the refer-a-friend promotion and their unadvertised fixed commission rate promotion.
According to the terms and conditions attached to this off (on the Questrade website), Questrade’s 1 month of free trades associated with the Advantage offer has expired.
As they have done for the past few months, Scotia iTrade has once again extended their refer-a-friend offer for another month. The new expiry date for this promotion is November 30 2013.
No new deals announced yet.
Updated Nov. 18th TD Direct Investing is offering between 3 and 50 commission free trades for new clients who deposit at least $5000 (for 3 free trades) or $50,000+ (for the 50 free trades). For deposits of at least $25,000 transfer fees (up to $150) are also covered. See details below for more info.
Discount Brokerage Deals
|Company||Brief Description||Minimum Deposit Amount||Commission/Cash Offer Type||Time Limit to Use Commission/Cash Offer||Details Link||Deadline|
|A 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/a||Discounted Commission Rates||none||For more details click here||none|
|Open a new trading account with HSBC InvestDirect and receive 50 commission-free trades good for use up to 60 days after account opening.||n/a||50 commission-free trades||60 days||For more details on the free trade offer read the terms and conditions and also the frequently asked questions||December 31, 2013|
|Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc||$1,000||$50 commission credit||none||none||none|
|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 November 30 with A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code QT100 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|
|A)10 free trades|
B)100 free trades
|60 days||100 commission-free trades||November 30, 2013|
|Open a new account with TD Direct Investing before December 20, 2013 and deposit either A)$5,000 to $24,999 B)$25,000 to $49,999 or C)$50,000 or more to receive commission credits for A) 3 trades, B)10 trades or C) 50 trades. Be sure to read the details about keeping your account balance at qualifying levels, eServices subscription as well as other terms and conditions.||A)$5,000|
|A) 3 Trades (max value $87) commission credit|
B) 10 trades (max value $290) commission credit
C) 50 trades (max value $500) commission credit
|Must use trades by 4pm (E.T.) February 28, 2014||50 Free Trades Offer||December 20, 2013|
|If 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|
|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 days||Refer A Friend to Scotia iTrade||November 30, 2013|
|Open and fund a new Scotia iTRADE account with at least $25,000 before November 25, 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.||$25,000||100 commission-free trades ($999 value @ $9.99 commission rate)||60 days||Scotia iTrade 100 free trades + FlightDesk||November 25, 2013|
|Open and fund a new account with $25,000 or more and you will qualify for 25 free trades. The offer code changed with different visits to the site, so click through the RBC Direct Investing homepage to generate a valid code. There are a number of terms and conditions attached to this offer, be sure to read see the details link.||$25,000||25 commission-free trades (no restriction on commission rate listed)||365 Days||25 Free Trades Offer Terms & Conditions ; To generate an offer code, go to the main site and click the ad for the offer here||November 30, 2013|
|Disnat isoffering 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 Disnat300. See details link for more info.||$50,000||$300 commission credit||6 months||Disnat $300 Commission Credit Promo||December 31, 2013|
|Open a new account or upgrade an existing account with A) $50,000 or more OR B)$100,000 or more and receive either A)250 commission-free mobile-placed trades OR B) 250 commission-free mobile-placed trades + $250 cash back. Use Promo Code: MOBILE when signing up to qualify. NOTE: There are lots of details/important conditions attached to this promotion. Be sure to read the terms and conditions carefully.||A) $50,000|
|A) 250 commission free mobile-placed trades|
B) 250 commission free mobile-placed trades + $250 Cash Back
|Payout occurs after 6 months||Free Mobile Trading/Cash Back Offer||January 6, 2014|
|If 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|
|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 directly||December 31, 2013|
|Open a new account with Scotia iTrade and fund it with at least $100,000 to receive $150 cash back. Use code FALL2013 when signing up. The offer is open to new and existing clients. There are many terms and conditions, be sure to read the details link.||$100,000||$150 Cash Back||Payout occurs after June 30, 2014.||To learn more about the deal terms and conditions click here||November 25, 2013|
Transfer Fee Deals
|Company||Brief Description||Maximum Transfer Fee Coverage Amount||Deposit Amount for Transfer Fee Eligibility||Details Link||Deadline|
|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 TD Direct Investing and they will pay up to $150 in transfer fees||$150||$25,000||50 Free Trades Offer||December 20, 2013|
|Transfer $25,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees||$135||$25,000||Transfer Fee Rebate Details||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 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|
|Disnat 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 1 800 268-8471 and mention promo code Disnat300. See details link for more info.||$150||$50,000||Disnat $300 Commission Credit Promo||December 31st, 2013|