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  • Feb 10th, 2011 10:25 am
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[OP]
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Jan 23, 2011
403 posts
77 upvotes
Montreal

CIBC Investor's Edge

Its site was down Friday morning and Monday morning. My account with them is new so I don't know how frequent this happens. For this to happen in two consecutive mornings is probably a bad omen for me.

Are there any CIBC Investor's Edge customers out there that find their site frequently going down?
13 replies
Deal Addict
Aug 1, 2008
1554 posts
67 upvotes
Ottawa
I've been with them for at least 10 years and have never seen it down for 2 days like this. It's not enough to scare me
away...probably due to higher volumes after giving $6.95 trades.

You can always call the 800 number to do everything over the phone that can be done on the site. Certainly not as
convenient but you're not dead-in-the-water when stuff like this happens.
Deal Addict
Dec 28, 2008
1318 posts
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Toronto
I notice is go down maybe once a quarter for all of half an hour.
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Nov 28, 2007
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Whitehorse, YT
SpillOnAisle9 wrote:
Feb 7th, 2011 11:19 am
I've been with them for at least 10 years and have never seen it down for 2 days like this. It's not enough to scare me away...probably due to higher volumes after giving $6.95 trades.

So far my investment banks - BMOIL and TDW - have not matched the $6.95. I think they will when enough clients move or threaten to do so. Then, they will announce the good news that in a month or so they will drop their commission - they'll collect the extra three bucks for a few weeks knowing that few clients will still drift away.
[OP]
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Jan 23, 2011
403 posts
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Montreal
Yes CIBC is cheaper but I have to say their Investor's Edge site is clumsy. I couldn't trade today because the site was down. Then it rejected my trade for insufficient cash for no reason. Then the site sent me to a timeout after trying again. Really frustrating. For people who want to switch I say wait. For example BMO IL is a much smoother platform.
Marzipan wrote:
Feb 7th, 2011 2:10 pm
So far my investment banks - BMOIL and TDW - have not matched the $6.95. I think they will when enough clients move or threaten to do so. Then, they will announce the good news that in a month or so they will drop their commission - they'll collect the extra three bucks for a few weeks knowing that few clients will still drift away.
[OP]
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Jan 23, 2011
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Montreal
I entered an order to buy 500 shares. Partial fill 400 and then 100 in the same second. To my surprise CIBC charged $6.95 for each fill, so the trade costs $13.90. I am puzzled. This loyalty pricing is not a good deal when trading more than 100 shares.
Deal Addict
Nov 15, 2010
1677 posts
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That's crap, I use BMO Investorline and I only get charged one time even if the trade gets filled in two different transactions.
[OP]
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Jan 23, 2011
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Montreal
I have renewed appreciation for BMO Investorline now that I've skimmed my toe in CIBC's Investor Edge pond.

To summarize, Investor Edge is a complete disappointment. Its website breaks down frequently. When you trade, you have to click and fill out many items over and over again. I can't imagine what's like for active traders.

In contrast, BMOIL sets default choices for you like Canadian market, at market price, settle today, CAD funds, trade with what account, etc... so no additional clicking and entering unless you have special instructions.

When you enter trades with CIBC, you don't see the real time quote on the same page as the data entry. You have to fill everything out first, then proceed to the next page. If the price has changed and you want to adjust as a result, you have to remember the price in your head, go back to the previous page, and change. The problem is the slow speed with going back and forth the two pages.

In BMOIL, the real time quote and the trade entry are all conveniently located on one page.

Of course, the major downer for CIBC Investor Edge is charging commission for each partial fill.



eiad77 wrote:
Feb 9th, 2011 12:00 am
That's crap, I use BMO Investorline and I only get charged one time even if the trade gets filled in two different transactions.
Deal Addict
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Nov 28, 2007
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Whitehorse, YT
Gingercookie wrote:
Feb 8th, 2011 11:42 pm
I entered an order to buy 500 shares. Partial fill 400 and then 100 in the same second. To my surprise CIBC charged $6.95 for each fill, so the trade costs $13.90. I am puzzled. This loyalty pricing is not a good deal when trading more than 100 shares.

Like the other big investment banks you should be charged one commission. Here is how the Web Site states it.

[INDENT][INDENT]Full commissions and fees apply for each partial fill, except when transacted within the same business day.[/INDENT][/INDENT]
Deal Addict
Aug 1, 2008
1554 posts
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Ottawa
Gingercookie wrote:
Feb 8th, 2011 11:42 pm
I entered an order to buy 500 shares. Partial fill 400 and then 100 in the same second. To my surprise CIBC charged $6.95 for each fill, so the trade costs $13.90. I am puzzled. This loyalty pricing is not a good deal when trading more than 100 shares.

The next day the account will be adjusted to only one transaction fee per order...happens all the time to me on partial-fills.
[OP]
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Jan 23, 2011
403 posts
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Montreal
Thanks I noticed it today. I called this morning and their CSR explained their system is like that - it corrects itself in 24 hours. During the call I was shaking my head as her voice got smaller and smaller; it was as if she knew her explanation is kinda stupid to have this occur, but nothing she can do to stop it.

Meanwhile I was using the watch list to check real time quotes. This is the only place where real time quotes are available. Well, it was problems galore. Within a short time, it logged out twice, after I press "refresh." Investor's Edge leaves a lot to be desired.
SpillOnAisle9 wrote:
Feb 9th, 2011 10:28 am
The next day the account will be adjusted to only one transaction fee per order...happens all the time to me on partial-fills.
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Jun 26, 2005
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One thing that I hate about Investor Edge just happened to me just now.

I was using my US cash to buy a stock on the NYSE (which also trades on TSX).

I choose USD account from the drop down menu, the stock symbol looks right, I set a limit price.... next..... type in my password... confirm.

It fills. Kinda slow, but whatever.

Then I get my email notification that I purchased ABC stock 400 shares.... Exchange: TSX WTF !!!!!


Then I realized I forgot to change the drop down menu for the MARKET: USA (vs. Canada) SOB !!! And since the TSX price is like $0.40 lower than US stock price, CIBC bought it at my limit price.

Which other brokers don't do that. They would execute your price at the market price (if my limit was set to a price that was higher than market).


So, I'm like losing money more now thanks to that. And the exchange its gonna charge me when I sell it too.

SOB !!! ###$*)@!$*()#$* #$ Agrrrr


At Questrade's platform, you don't have to select MARKET. It is determined by the symbol only !! eg. NT.to or NT
[OP]
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Jan 23, 2011
403 posts
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Montreal
Because the trading data entry page is completely disconnected on its own, you're basically working blind. I really hate this with Investor's Edge.

It's like you enter the trade instructions, but you see no immediate results from your data entry (ie: no summation total, no real time quotes, no commission total, no summary of your trade) until you go to the second page. But once you hobble to the second page, you can no longer compare this to your data entry page, unless you have super memories. This will easily lead to errors.

I'm sure if you were able to see the summary of your trade and the real time quote as you entered your data, you would have detected your incorrect exchange choice (ie: you would ask yourself why your US limit price is so much higher than the CAD real time quote). In reaction you would either lower your limit price accordingly and trade in the wrong exchange anyway (but still okay I guess, because you lowered your limit) or you would notice the wrong exchange choice due to the price discrepancy and correct.

I'm also surprised it didn't warn you about buying a Canadian stock using US funds. BMO IL issues warnings before the execution just to make sure the user is aware.


rfdrfd wrote:
Feb 9th, 2011 3:49 pm
One thing that I hate about Investor Edge just happened to me just now.

I was using my US cash to buy a stock on the NYSE (which also trades on TSX).

I choose USD account from the drop down menu, the stock symbol looks right, I set a limit price.... next..... type in my password... confirm.

It fills. Kinda slow, but whatever.

Then I get my email notification that I purchased ABC stock 400 shares.... Exchange: TSX WTF !!!!!


Then I realized I forgot to change the drop down menu for the MARKET: USA (vs. Canada) SOB !!! And since the TSX price is like $0.40 lower than US stock price, CIBC bought it at my limit price.

Which other brokers don't do that. They would execute your price at the market price (if my limit was set to a price that was higher than market).


So, I'm like losing money more now thanks to that. And the exchange its gonna charge me when I sell it too.

SOB !!! ###$*)@!$*()#$* #$ Agrrrr


At Questrade's platform, you don't have to select MARKET. It is determined by the symbol only !! eg. NT.to or NT
[OP]
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Jan 23, 2011
403 posts
77 upvotes
Montreal
Thursday Feb 10, 2011 at 10:15am Investor's Edge website went offline. This follows breakdowns last Friday and this past Monday, both during morning trading hours. I guess for $6.95 this is what you get. CIBC Investor's Edge is nothing but a big joke.
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