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Canadian Online Brokerage Review – CIBC Investor’s Edge

Home Community CIBC Investor’s Edge Customer Reviews Canadian Online Brokerage Review – CIBC Investor’s Edge

This topic contains 28 replies, has 2 voices, and was last updated by  H 3 days, 7 hours ago.

Viewing 10 posts - 1 through 10 (of 29 total)
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  • #29294 Reply

    H

    The WORST platform. Their risk management team essentially limits how much money you can make by placing restrictions on your account. AVOID

    Use wealthsimple

    #29106 Reply

    Fizell Katherine

    Worst Trading platform!!
    15 minutes delays to process an order every single time. They come up with the most ridiculous excuses – like they need to manually review and approve every trade before it goes through to make sure you have enough money in the account… pretty sure any computer on earth can do that in under 0.001 milliseconds. Its over an hour to speak to anyone about anything – by which time your market order that was “pending” for 45 minutes has now filled at a way higher price and they can’t offer any reason for it or compensation for the difference.

    It’s the biggest load of crap… reading the comments here I’m starting to realize they probably are doing some shady shit on the delayed trades to either pocket the difference when it goes up or fuck you over with a delayed purchase you’re on the hook for if it went down. Stupid slimy unprofessional bank!! I’m also going to file a complaint with ombudsman now.

    #29093 Reply

    Mohammed

    CIBC investor edge is named like that for a reason. It is an edge sharp when cutting your money one way or another. Be careful of their dubious conversion rates and sometimes their delay in executing a trade where they take any resulting gain but hold you to it if it ends up losing. I just pulled the last amount of money from them and going to close my account with this bank

    #26055 Reply

    IC

    Hi,
    Trying to close an Investor’s Edge account for an estate. I have a probated will and I’m the only executor. I’ve been at it for 6 weeks with zero results. Impossible to get feedback on the phone on what I need to do. I’ve sent the documents 3 times now and still they refuse to provide any feedback or direction or status update due to privacy or whatever, which doesn’t make sense. Reminded them that the bank has a legal duty to protect the estate and they are breaking the law by unreasonably delaying the process. No comment on that. I suspect they make the process impossible so they get to keep everyone’s money much longer. I recommend avoiding CIBC due to awful customer service.

    #24996 Reply

    Jay

    To James, (review dated Aug 16 2018)
    Thats what they do to every new trader. if you dont call them they have benefited from conversion. if you call them they say its your mistake ! you mistakenly checked the U.S dollar !! and they say its ok we convert it to canadian. thats when they recorrect it.
    They did the same thing to me and i knew very well i had checked the Canadian and not American . As i said in my previous review they are Bunch of Crooked people.
    Since i saw so many different illegal and fraudulent activity from them i filled with OBSI and IRROC and closed my account. EVERYBODY MUST BE CAREFUL WITH THEM. THEY ARE THIEVES.

    #24995 Reply

    Jay

    be careful who you are dealing with. They arent honest at all. their trading staffs are bunch of crooked traders. They use every trick in the book to benefit as much as they can . (using illegal tactics ). well, you will be able to complain to them but OBSI (Ombudsman for banking services and investment) but the best thing is to not start with them at all. The top rank CIBC employees are well aware of the problem but they dont care since their bank is benefited . ( I’m not sure if the traders individually are benefited or CIBC). But they are not trustworthy at all. ALL I CAN SAY IS DONT WALK , RUN !

    #24772 Reply

    Robert

    Investors Edge is a joke when trading options. They only Options you can sell online are covered calls.
    If I want sell naked puts (i.e. lower my cost of entry) I need to phone their number, jump through a few hoops to get recognized and then listen to elevator music waiting for a response.
    Quite often 15 minutes or more. By which time my option may have flown away.
    It’s time they traded in their horse & buggy.

    #24449 Reply

    James

    I’ve been using the account for just two weeks, so I do not have all the bugs worked out, but here are my first impressions. I’m not an active trader, so trade prices don’t matter that much. My first purchase, I was surprised to find out it was in American dollars. I had a plan for more purchases, but I over bought on the stocks I purchased as a result. More concerning, I researched a number of ETFs that looked good, yet I wasn’t able to find them or purchase them. Not sure what that is about. Lastly, of course I’m going to find my info on stocks somewhere else, not in their market research centre.

    #23922 Reply

    tom

    They say they will give the client an email when their trade is filled.

    NOT – they say oh – you are with Shaw – it doesn’t work then.
    CIBC sends everything else to Shaw but not the TRADE FILL ALERTS.

    POOR SERVICE when they are advised it does not work !!!

    #22775 Reply

    Disgruntled

    Good luck trying to get them to help. Under staffed. I’ve been trying for a week to get a real person. Making the switch, goodbye investorsedge.

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