Expired Hot Deals

[Scotiabank] Receive $50 cash for opening iTrade account

  • Last Updated:
  • Oct 5th, 2019 4:15 pm
[OP]
Newbie
Sep 26, 2018
2 posts
1 upvote

[Scotiabank] Receive $50 cash for opening iTrade account

Deal Link:
Expiry:
October 31, 2019
Retailer:
Scotiabank
More offers from Scotiabank
Get $6.99 pricing and $50 cash*:
1. Receive your offer code by completing this form
2. Open an account by October 15, 2019 and fund it with a minimum of $2,500 by October 31, 2019
3. Hold your funds in your account until December 31, 2019
4. Get $6.99 per trade commission pricing until March 1, 2020
5. Receive $50 cash by January 31, 2020

Doesn't seem like too bad of a deal. Keep your money in the account for 4 months and get $50.
12 replies
Deal Addict
User avatar
Feb 19, 2014
2574 posts
1423 upvotes
Langley
This pairs well with their new account promo.
Jr. Member
Jun 28, 2015
151 posts
135 upvotes
Toronto, ON
Questrade is free to buy, $10 to sell, and most likely you'll be buying a lot more than selling if this is for personal investing. Granted, it's only free to buy ETFs, but that's what you should be buying 99% of the time anyway... And you can always use Scotia for any non-ETF holdings.
Deal Addict
Jul 21, 2005
1134 posts
195 upvotes
The brokerages from the big banks normally come up with better deals on new accounts.
I'd wait for a better offer as this, to me, is lukewarm at best.
Deal Addict
User avatar
Nov 18, 2012
1270 posts
311 upvotes
Toronto
For $6.99 pricing and $50 cash, use offer code S19 under “Promotions (Optional)” during the account opening process.
Simple is the best.
Jr. Member
Oct 21, 2017
152 posts
84 upvotes
mhall1 wrote: Questrade is free to buy, $10 to sell, and most likely you'll be buying a lot more than selling if this is for personal investing. Granted, it's only free to buy ETFs, but that's what you should be buying 99% of the time anyway... And you can always use Scotia for any non-ETF holdings.
Or interactive brokers. $1 fee
AT&T 25GB
Deal Addict
User avatar
May 13, 2005
1435 posts
255 upvotes
Toronto
mhall1 wrote:
Oct 4th, 2019 11:48 pm
Questrade is free to buy, $10 to sell, and most likely you'll be buying a lot more than selling if this is for personal investing. Granted, it's only free to buy ETFs, but that's what you should be buying 99% of the time anyway... And you can always use Scotia for any non-ETF holdings.
iTrade has commission free trades on ETFs, although it is for a select list
https://www.scotiaitrade.com/en/direct- ... -etfs.html

Of note, XGRO, which is the equivalent of Vanguard's VGRO, is commission free.
Sr. Member
Nov 24, 2015
601 posts
385 upvotes
Durham Region
Warped wrote: The brokerages from the big banks normally come up with better deals on new accounts.
I'd wait for a better offer as this, to me, is lukewarm at best.
Usually the offer requires a much larger investment amount than $2500 tho
Member
Oct 5, 2011
364 posts
230 upvotes
Toronto
The Low Activity Account Administration Fee applies every quarter
Waived for:
i) First 6 months, if it's first account
ii) 1 commission trade in past 3 months
iii) RRSP, RIF, LIRA, LIF, RESP, TFSA type account
iv) for Cash Optimizer Investment Accounts
v) total account equity at Scotia iTRADE greater than $10,000
vi) under 26
vii) for Unclaimed Accounts --- not sure what this is
Commission-generating trades are buys and sells of: Equities, Options, Mutual Funds subject to commissions, and Fixed Income instruments. Buys and Sells of GICs, ETFs which do not generate a commission, Canada Savings Bonds and Provincial Savings Bonds, are examples of trades that do not generate commissions.
Jr. Member
Jun 28, 2015
151 posts
135 upvotes
Toronto, ON
chapman_w wrote:
Oct 5th, 2019 10:23 am
The Low Activity Account Administration Fee applies every quarter
Waived for:
i) First 6 months, if it's first account
ii) 1 commission trade in past 3 months
iii) RRSP, RIF, LIRA, LIF, RESP, TFSA type account
iv) for Cash Optimizer Investment Accounts
v) total account equity at Scotia iTRADE greater than $10,000
vi) under 26
vii) for Unclaimed Accounts --- not sure what this is
Commission-generating trades are buys and sells of: Equities, Options, Mutual Funds subject to commissions, and Fixed Income instruments. Buys and Sells of GICs, ETFs which do not generate a commission, Canada Savings Bonds and Provincial Savings Bonds, are examples of trades that do not generate commissions.
If your investment is less than $10k, it's probably not worth rolling your own portfolio anyway.
Jr. Member
Jun 28, 2015
151 posts
135 upvotes
Toronto, ON
sirvar wrote:
Oct 5th, 2019 1:51 am
Or interactive brokers. $1 fee
Just looked it up. It's a minimum of $1 per trade. $0.008 per share up to a max of 0.5% of trade value. But I don't know how that maximum would ever kick in...

As an example, say you're buying shares at $25 each. You hit the minimum at 125 shares. Every extra share adds $0.008 to the commission, but it also adds ($25 * 0.005 = $0.125) to the commission cap... So you'll never hit the cap. Weird 🤷

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