Commission Free ETFs at BMO Investorline

mmm...did not notice this, they have very good commission free ETFs for long term investments, wonder when they start offering this?

I'll have to test a trade tomorrow to see if the commission is shown as $0.00 before confirming.

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.

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.

Just got an email from investorline on this. Great option vs questrade and itrade.

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.

Do you still have to pay for the monthly fee?

jfmartel wrote: ↑ Do you still have to pay for the monthly fee?

Same question!

Can we just use it to buy ETFs like Wealthsimple?

Disappointing XAW or VXC are not on the list.

can someone with ETF experience please recommend 3 from their list that i can look into? TIA

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?

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.

yeesh i was just looking into it, didnt plan on marrying it... tough crowd lol.

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

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.

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.

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

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.

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.