Investing

CIBC Investor Edge trading fees

  • Last Updated:
  • Sep 22nd, 2021 4:31 pm
[OP]
Deal Addict
Apr 27, 2015
2858 posts
1506 upvotes
Mississauga

CIBC Investor Edge trading fees

After National bank discount brokerage set trading fees to $0, i sent inquery to CIBC IE

Just received email from my rep in CIBC IE

We are gathering feedback from clients now.
It is being discussed at the Management level now.
I will share any major updates with you.
Thanks for your input.
I will communicate it now.


So, guys who have accounts in CIBC IE, please send emails and ask about elimination/reducing trading fees.
More investors will inquire , more chances they will follow National Bank
"All animals are equal but some animals are more equal than others" George Orwell
37 replies
Deal Expert
User avatar
Dec 12, 2009
25143 posts
14880 upvotes
Toronto
OP, do you think you got the message because your inquiry had an impact or you were simply fed a platitude. I am generally not a fan of price matching which is essentially what you are advocating. If I think that National Bank offers value that is important to me, I would give them my business and let CIBC figure out why I am no longer their customer. BTW, I am a buy and hold couch potato. In the past 2 years, my trading fees are under $500. I am not losing too much sleep over this.
Koodo $40/6GB
Public Mobile $40/15GB, lot less with rewards
Fido $0.00/4GB+tablet
Tangerine Bank, EQ Bank, Simplii
Member
May 15, 2019
356 posts
362 upvotes
GWN
will888 wrote: OP, do you think you got the message because your inquiry had an impact or you were simply fed a platitude. I am generally not a fan of price matching which is essentially what you are advocating. If I think that National Bank offers value that is important to me, I would give them my business and let CIBC figure out why I am no longer their customer. BTW, I am a buy and hold couch potato. In the past 2 years, my trading fees are under $500. I am not losing too much sleep over this.
OP is just asking Investor's Edge account holders to inquire about lower fees. Where is the harm in that?

If I had a business where my competitor lowered fees and my customers didn't say anything, I probably wouldn't lower fees.

However, if customers ask and I don't lower fees, some (maybe most) of my customers will eventually lessen activity or transfer out.
Deal Addict
Dec 22, 2007
1392 posts
1012 upvotes
Mississauga
they won't look at how many emails they get from customers..
they will look at to see how many customers leave at which point the bean counters will say we still making money let them leave
Member
May 15, 2019
356 posts
362 upvotes
GWN
DeletedMemories wrote: they won't look at how many emails they get from customers..
they will look at to see how many customers leave at which point the bean counters will say we still making money let them leave
Perhaps this article explains how brokerages continue to make money with $0 Commission trades.

https://www.brokerage-review.com/invest ... sions.aspx

I'd like to point out this excerpt:

The Bulk of Most Brokers’ Income Isn’t From Commissions

The percentage of a broker’s annual revenue from stock and ETF commissions is very small. For most firms, it’s less than 20%. Some brokers might be under 10%
Deal Expert
User avatar
Dec 12, 2009
25143 posts
14880 upvotes
Toronto
SnowyDumpling wrote: OP is just asking Investor's Edge account holders to inquire about lower fees. Where is the harm in that?

If I had a business where my competitor lowered fees and my customers didn't say anything, I probably wouldn't lower fees.

However, if customers ask and I don't lower fees, some (maybe most) of my customers will eventually lessen activity or transfer out.
I would agree if we were dealing with a small business where the decision maker is the one receiving the customer inquiry, there could be a fast outcome. I am sure that a big entity like CIBC receives a ton of customer emails. Actually if I really wanted to try and get a discount, I could probably talk to my branch level advisor and ask for some sort of rebate against the trading fees. If I was actively day trading, I probably would do this but I am not. So I will do nothing.
Koodo $40/6GB
Public Mobile $40/15GB, lot less with rewards
Fido $0.00/4GB+tablet
Tangerine Bank, EQ Bank, Simplii
Sr. Member
Jan 25, 2015
929 posts
582 upvotes
Toronto, ON
lower it to $3 and im good lol
Deal Addict
Aug 16, 2015
1136 posts
469 upvotes
ya i want zero fees. I'm seriously considering switching to national bank.
Deal Addict
Aug 16, 2015
1136 posts
469 upvotes
what is the email you used. i will send one and say I'm thinking about switching.
[OP]
Deal Addict
Apr 27, 2015
2858 posts
1506 upvotes
Mississauga
kilburn305 wrote: what is the email you used. i will send one and say I'm thinking about switching.
I'm with Premium Edge and I have personal rep, so I always communicate through him. But you can just go to IE website and find email on Contact us.

@will888, I think that if CIBC IE will get a tons of email about it and investors start leaving, there is a better chance they will lower fees,

As an example, Before CIBC IE had complete USD/CAD currency separation, they were charging (in registered accounts) FX rate as per Bank of Canada rate (w/o 2.5% or soo fees on the top). Very likely they did it because investors were compaining about it.
If within month or two , i won't get satisfied answer, I may ask about certain numbers of free trades.... I did it several years ago (telling that I want to move out) and got 50 free trades spread between my 6 accounts....
"All animals are equal but some animals are more equal than others" George Orwell
Jr. Member
Jun 16, 2016
199 posts
206 upvotes
ottawa
OP mind share your email?

I’m on the same boat. Paid around 1k commission last year but will definitely stick with CIBC if they are willing to lower the fee.
Bank account: CIBC Smart Plus
Credit card: Rogers WEMC, Triangle WEMC, CIBC Costco MC
Investment: CIBC Investor's edge
HISA: Tangerine 4.75%
Churning: BMO/RBC bank account, TD Aeroplan VI, RBC Westject WEMC, National Bank WEMC, Wealthsimple Trade
Deal Addict
Aug 31, 2014
1505 posts
560 upvotes
YVR, BC
Reply from CIBC

CIBC Investor’s Edge has among the cheapest commission fees across the 5 big banks with no asset requirements. Although CIBC does not have plans at present to offer zero commissions, we review our offer periodically to ensure we are providing the best possible services to our clients. We invite you to visit our website regularly for information on upcoming new features
Member
Jul 26, 2015
360 posts
429 upvotes
Vancouver, BC
I have a CIBC investor edge account. It’s the worst trading platform I ever touched. 1/10 of efforts to satisfy customers compared to other platforms. No additional data whatsoever. No dividend info, no projected income, no PE ratios, no news links. Not sure how it compares to National bank though. But I can not imagine a platform that provides less info. I only have TFSA left with them just because it’s a slow long-term stock investment for me. Had to close other accounts since there is no value there. They even feel so cocky that they recently sent out emails to all their “valuable” clients urging them to raise their balance to a certain minimum, or they will be charged a newly designed annual management fee of $100 or so. They have no idea what they are doing.
Member
Oct 11, 2013
217 posts
61 upvotes
Almost American
@OP - Hmm, I'm actually both surprised and pleased that CIBC actually sent you a meaningful response!
Sr. Member
Aug 22, 2021
701 posts
219 upvotes
Ontario
Would be amazing if they matched National Bank! What’s the minimum for Premium Edge?
Deal Fanatic
Jun 3, 2009
5512 posts
1364 upvotes
Montreal
TBH, CIBC has one of the most obsolete platforms out there. Unless you have your dedicated account manager on speed dial, there is no point even asking them to match NBDB.

Do they at least offer TFSA and RRSP in USD now?
Newbie
Jan 25, 2020
10 posts
27 upvotes
i phone CIBC IE to make a transaction and asked the agent about if IE will match National Bank and Desjardins zero commission.
he says change to commsion fee is coming soon...
Deal Addict
May 16, 2017
2346 posts
3067 upvotes
Sam286 wrote: I have a CIBC investor edge account. It’s the worst trading platform I ever touched. 1/10 of efforts to satisfy customers compared to other platforms. No additional data whatsoever. No dividend info, no projected income, no PE ratios, no news links. Not sure how it compares to National bank though. But I can not imagine a platform that provides less info. I only have TFSA left with them just because it’s a slow long-term stock investment for me. Had to close other accounts since there is no value there. They even feel so cocky that they recently sent out emails to all their “valuable” clients urging them to raise their balance to a certain minimum, or they will be charged a newly designed annual management fee of $100 or so. They have no idea what they are doing.
Well, CIBC IE provides no nice data view but most of what you say is accessible with additional steps.

That $100 fee has been around since 2017 - the notice may be new, the fee isn't, and doesn't apply to:
- RRSP, RIF, LIRA, RIF with assets of $25K+
- TFSA at all
- Non-registered accounts IF you hold a registered account of any sort
Deal Addict
Jun 8, 2004
2015 posts
1085 upvotes
Oakville
robsaw wrote: Well, CIBC IE provides no nice data view but most of what you say is accessible with additional steps.

That $100 fee has been around since 2017 - the notice may be new, the fee isn't, and doesn't apply to:
- RRSP, RIF, LIRA, RIF with assets of $25K+
- TFSA at all
- Non-registered accounts IF you hold a registered account of any sort
SAM286 was only referring to what you can and cannot do using CIBC's app, and not what you can actually do using their website based platform.

Also, their annual $100 RRSP administration fee (and its fee waiver limits) has been exactly the same for over 25 years since they launched nationally as CIBC Investor Services Inc back on July 1, 1995 (and were the same fees when they were only available in ON and PQ as an operating division of CIBC Securities Inc prior to the national rollout on July 1, 1995).

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