Investing

Commission Free ETFs at BMO Investorline

  • Last Updated:
  • Jun 6th, 2021 9:23 am
28 replies
Deal Addict
Sep 10, 2004
1101 posts
92 upvotes
mmm...did not notice this, they have very good commission free ETFs for long term investments, wonder when they start offering this?
Deal Addict
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Nov 18, 2007
3510 posts
609 upvotes
Valleywood
I'll have to test a trade tomorrow to see if the commission is shown as $0.00 before confirming.
Deal Addict
Feb 4, 2003
2581 posts
650 upvotes
sunny923 wrote: mmm...did not notice this, they have very good commission free ETFs for long term investments, wonder when they start offering this?
The PDF said was last updated may 2021, I thinking this is something new they just started to offer.
Sr. Member
User avatar
Mar 23, 2009
842 posts
668 upvotes
Toronto
Looks to already be live. Markets are closed obviously, but commission fee comes up in an order and is showing $0 for that list! Nice find OP! Pretty decent ETF list too.
Deal Addict
Feb 4, 2003
2581 posts
650 upvotes
Just got an email from investorline on this. Great option vs questrade and itrade.
Newbie
May 4, 2017
45 posts
29 upvotes
Vancouver
sunny923 wrote: mmm...did not notice this, they have very good commission free ETFs for long term investments, wonder when they start offering this?
They've been polling their users (like me) to bounce ideas off of and ask for our opinions. I think this was one of the low-hanging fruits that was palatable to them.

They've just started this last weekend ? - I just received the email notice of it.
Deal Addict
Mar 11, 2007
3935 posts
1167 upvotes
QC
Do you still have to pay for the monthly fee?
Jr. Member
Feb 8, 2020
102 posts
63 upvotes
jfmartel wrote: Do you still have to pay for the monthly fee?
Same question!

Can we just use it to buy ETFs like Wealthsimple?
Newbie
Apr 14, 2021
2 posts
1 upvote
can someone with ETF experience please recommend 3 from their list that i can look into? TIA
Member
Dec 26, 2012
305 posts
269 upvotes
TORONTO
aguero wrote: can someone with ETF experience please recommend 3 from their list that i can look into? TIA
LOL, we need more info than that. You looking for Dividends and passive income? Growth? long term? short term? how's your risk threshold?
Deal Expert
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Dec 12, 2009
20757 posts
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Toronto
aguero wrote: can someone with ETF experience please recommend 3 from their list that i can look into? TIA
If saving $10 on a trade is going to sway your investment strategy, I think it is time to regroup before pulling the trigger on anything. I am not saying that the commission free ETFs are a good or bad investment. The free trade does not make them better or worse.
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Newbie
Apr 14, 2021
2 posts
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yeesh i was just looking into it, didnt plan on marrying it... tough crowd lol.
Deal Addict
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May 11, 2014
4660 posts
5594 upvotes
Iqaluit, NU
good news. But I always found it odd they dont promote just BMO ETFs. For example, it would be nice for them to make all BMO ETFs free.

Scotia iTrade can't even bother with their own line of Scotia ETFs
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Deal Addict
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Jul 16, 2019
1232 posts
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Great to see XEQT and VEQT on the list. I don't think any of the other brokerages that have a selection of free ETFs (namely Qtrade and iTrade) include them.

Too bad no DLR. Poor Norbert.
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Mar 22, 2013
1651 posts
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Markham
I don’t have any accounts with BMO. If I open an Investorline TFSA account, there won’t be any account fees and minimum balance?

I only want to buy and hold X/VEQT. AFAIK, there’s no way to automate buying of the said ETFs? I am currently automating everything with the TD e-Series for the peace of mind and then buy the ETF year end.
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May 11, 2014
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myinglin0318 wrote: I don’t have any accounts with BMO. If I open an Investorline TFSA account, there won’t be any account fees and minimum balance?

I only want to buy and hold X/VEQT. AFAIK, there’s no way to automate buying of the said ETFs? I am currently automating everything with the TD e-Series for the peace of mind and then buy the ETF year end.
There is an automatic way for XEQT (iShares ETFs) through PACC. Technically any brokerage can do this for free after the initial purchase. After you hold at least one unit, you can buy it through automatic cash purchase.
https://www.blackrock.com/ca/investors/en/drip-pacc-swp
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Deal Addict
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Mar 22, 2013
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Markham
xgbsSS wrote: There is an automatic way for XEQT (iShares ETFs) through PACC. Technically any brokerage can do this for free after the initial purchase. After you hold at least one unit, you can buy it through automatic cash purchase.
https://www.blackrock.com/ca/investors/en/drip-pacc-swp
I just checked and unfortunately XEQT is not eligible for PACC.
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May 11, 2014
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myinglin0318 wrote: I just checked and unfortunately XEQT is not eligible for PACC.
Ah sorry, but keep checking. XGRO wasn't available for a while and it got added.

I would just buy it by logging in and doing it yourself. I find using PACC gets annoying because you can't make changes easily and you have to submit a new form etc.
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