Canadian Online Discount Broker – Desjardins Online Brokerage (Disnat)

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Contact Information

Phone: 1-877-842-0582

Email: info@disnatdirect.com

Website:www.disnat.com

Headquarters:

1170 Peel Street, Suite 105
Montréal, QC H3B 0A9

Customer Service Hours of Operation:
Mon to Fri 8 a.m. to 7 p.m. ET

Desjardins Online Brokerages (Disnat)  – Review of Pricing

(updated Feb. 6/14)

Desjardins Online Brokerage, also known as Disnat, offers Canadians two choices for their online discount brokerage services, Disnat Direct and Disnat Classic. We made the decision to focus on the Disnat Direct discount brokerage product rather than the Disnat Classic, as Disnat Direct is more geared towards “trading”; in the near future we will include information about the Disnat Classic product line pricing, but for now if you would like more information about Disnat Classic you can visit their website.

For the Canadian online investor, Disnat Direct offers the ability to trade stocks, ETFs, mutual funds and options using cash or margin accounts. Their registered accounts include tax-free savings accounts (TFSAs) and registered retirement savings plans (RRSPs). Registered education savings plans (RESPs) are not offered by Disnat Direct but are offered by Disnat Classic. For registered trading accounts you cannot use margin or short stocks. Options trading in registered accounts is limited to buying and selling options – there is no writing of options allowed. Non-registered trading account types include cash and margin accounts although the cash account is only available through Disnat Classic.  Disnat Direct is one of the Canadian online brokerages that require you open a margin trading account if you are not opening a registered account.

The Bottom Line

If you expect to place less than 10 trades per month using Disnat Direct, you can expect to pay at least $19.95 per trade and either $30 or $55 for data fees per month depending on whether or not you want to trade stocks listed on the TSX Venture.

If you are an active trader (more than 10 trades per month) then you have to stay an active trader to retain preferred pricing. This means you are on a bit of a treadmill every month to maintain your preferred pricing. That said, if active trading is something you usually do, the features, pricing and services are definitely worth looking at when considering a between discount brokers.

While we’ve tried to make this information as accurate as possible, make sure to consult with Disnat’s pricing/fee information before making any decisions. A link to their pricing information is below in the useful links section.

Discount Brokerage Pricing Review Table

Account Types Offered Funding Requirements and Fees Registered Account Types and Fees
TFSAClassic:
Direct:
Minimum Opening BalanceClassic:$1,000
Direct: $10 000
TFSAAnnual ChargeClassic: $0*
Direct:$0*
(*subject to inactivity fee of $30/mo if account inactive for >3 months)
RRSPClassic:
Direct:
Minimum Account Balance$1,000 Transfer Out$125
RESPClassic:
Direct:
Minimum Balance for Best or Discounted CommissionNot RequiredWithdrawals$0
CashClassic:
Direct:
Minimum Commission per Equity TradeClassic: $9.95
Direct: $5
US Dollar Account
Margin ShortClassic:
Direct:
Maximum Commission per Equity TradeClassic: $9.95
Direct: $9.95
RRSPAnnual ChargeClassic: $100 (if account <$15 000)
Direct: $100 (if account is <$15 000 and <125 trades per year are made)
Margin OptionsClassic:
Direct:
Minimum Trades per Quarter for Best Commission Raten/aTransfer Out$125
CIPF MemberInactivity or Maintenance FeesClassic: $30/quarter
Direct: $30/month
US Dollar Account
Conditions for Inactivity/Maintenance FeesClassic: Inactivity fee is charged if < 6 trades executed in last 12 months and portfolio < $15,000 and no registered account is held
Direct: Inactivity fee is charged if account is inactive for 3 months or more.
RESPAnnual ChargeClassic: $50 (if combined accounts <$15,000)
Direct:Not Applicable
Transfer OutClassic: $125
Direct:Not Applicable
US Dollar AccountNot Applicable
Last updated: Mar. 8, 2016

Disnat Website Links:

Here are some useful links to important information on Disnat’s website.

Discount Broker Customer Survey Ratings by J.D. Power:
Link to 2013 online broker ratings by the Globe and Mail:

More Online Broker Profiles

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