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Invest in CAD ETFs, which online broker?

  • Last Updated:
  • May 20th, 2017 9:55 am
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[OP]
Member
Nov 8, 2005
430 posts
3 upvotes

Invest in CAD ETFs, which online broker?

Hello! I wonder what are your online broker suggestions when investing Canadian ETFs? I looked at Scotia iTrade but the transaction fee seems to be high at $9.99. What will be the best option for me to do this? Thanks
10 replies
Newbie
Apr 8, 2017
42 posts
18 upvotes
ahson wrote:
Apr 20th, 2017 9:35 pm
Hello! I wonder what are your online broker suggestions when investing Canadian ETFs? I looked at Scotia iTrade but the transaction fee seems to be high at $9.99. What will be the best option for me to do this? Thanks
You can buy ETFs for frew with Questrade and you pay regular commission when selling.
Newbie
Nov 12, 2014
69 posts
23 upvotes
Levis, QC
Virtual brokers or Questrade as it's free to buy ETF. You pay a commission when you sell though.
National Bank Direct Brokerage doesn't charge any fee to buy and sell ETF but you must trade at least 100 shares per trade.
[OP]
Member
Nov 8, 2005
430 posts
3 upvotes
Sorry if I am asking stupid questions as I am trying to learn this. If I use virtual brokers like the ones you guys mentioned above, will they let me invest with my RRSP$? Thanks
Sr. Member
User avatar
Jun 27, 2007
530 posts
94 upvotes
Toronto
ShuttleBoy wrote:
Apr 20th, 2017 9:48 pm
You can buy ETFs for frew with Questrade and you pay regular commission when selling.
Thanks for mentioning us, ShuttleBoy!
Deal Guru
Feb 29, 2008
14496 posts
1516 upvotes
Montreal
ahson wrote:
Apr 20th, 2017 10:28 pm
Sorry if I am asking stupid questions as I am trying to learn this. If I use virtual brokers like the ones you guys mentioned above, will they let me invest with my RRSP$? Thanks
Yes. How much are you looking to invest per year, and how many transactions? For low volume accounts, the actual trading fee is not that big a deal.
Newbie
Aug 20, 2011
3 posts
Scotia_iTRADE charged me $9.99 commission to buy 18,000 shares of a stock and then when I sold the same 18,000 shares a few months later they charged me $540 in commission.
Apparently I only had a few months at a "special" rate. Missed the fine print that said they would increase my fees by 54 times.
I sent two emails to 'mail.president@scotiabank.com'. They ignored both.
I moved everything to TD WebBroker.
Sr. Member
Nov 13, 2013
525 posts
168 upvotes
vandenp wrote:
May 19th, 2017 7:38 am
Scotia_iTRADE charged me $9.99 commission to buy 18,000 shares of a stock and then when I sold the same 18,000 shares a few months later they charged me $540 in commission.
Apparently I only had a few months at a "special" rate. Missed the fine print that said they would increase my fees by 54 times.
I sent two emails to 'mail.president@scotiabank.com'. They ignored both.
I moved everything to TD WebBroker.
Details? This doesn't make much sense as even ECN fees on 18000 shares shouldn't be $540. Also ITrades $9.99 is flat rate.
Itrade has no buy or sell commission on a select group of ETFs. Regular $9.99 or even $25 commission on other ETFs.
Deal Addict
User avatar
Feb 25, 2014
2066 posts
280 upvotes
Mississauga
fogetmylogin wrote:
May 19th, 2017 9:37 am
Details? This doesn't make much sense as even ECN fees on 18000 shares shouldn't be $540. Also ITrades $9.99 is flat rate.
Itrade has no buy or sell commission on a select group of ETFs. Regular $9.99 or even $25 commission on other ETFs.
It's $24.99 (up to 1,000 shares, 3¢/share thereafter) so yes it costed him dearly.
Oh sada kehra bapu karda black nee, Jehra tere shahir (Toronto), Le lawan flat nee
Deal Addict
Jun 3, 2009
3437 posts
376 upvotes
Montreal
MehtabS wrote:
May 19th, 2017 7:06 pm
It's $24.99 (up to 1,000 shares, 3¢/share thereafter) so yes it costed him dearly.
Wow I can't believe an online broker can still charge 540 for an online equity trade in 2017.
Zoomer: $36 nationwide + 2GB
Newbie
Feb 5, 2017
45 posts
15 upvotes
I have two online brokers :
TD DI (Waterhouse)
CDBN (National Bank)

ETFs are 9.99$ at TD DI and free at CDBN.
I prefer the web interface of TD DI
I have 2 brokers because I have more than 1M at TD DI
I have tried Questrade and saw that I can't put my trust in them and would never advice anyone to have more than 50K in any account with them.

By the way, if you are investing 25-50K at once periodically, the 9.99$ is nothing.
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