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[National Bank] National Bank Direct Brokerage - $0.99 commission for Active Traders! (100+Trades per 3 months)

  • Last Updated:
  • Sep 28th, 2020 3:37 pm
[OP]
Deal Expert
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Feb 11, 2009
18032 posts
5376 upvotes
Toronto

[National Bank] National Bank Direct Brokerage - $0.99 commission for Active Traders! (100+Trades per 3 months)

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Just saw this offer, National Bank is offering $0.99 commissions for those making over 100 trades per quarter.

https://nbdb.ca/pricing.html


We're getting close to the US rates of $0 at this point! Maybe the other banks follow but this is great for those making 100+ trades every 3 months.

I'm currently paying $4.99 to TD (and their standard active trader offer is $7) and have close to 500 trades per quarter within our household so will be huge savings to move.

If anyone is on the platform hopefully you can post some experiences!
Real Estate Agent, MAcc, CPA, CA
124 replies
Newbie
User avatar
Dec 15, 2019
65 posts
123 upvotes
Vancouver, BC
I use WealthSimple with $0 rate and no requirements. Though I don't know how it is compare to the platforms. I am still quite new to the trading scene.
[OP]
Deal Expert
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Feb 11, 2009
18032 posts
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Toronto
SweetTato wrote: I use WealthSimple with $0 rate and no requirements. Though I don't know how it is compare to the platforms. I am still quite new to the trading scene.
From what I can see wealth simple is very bare bones and an active trader would not be able to utilize it.
Real Estate Agent, MAcc, CPA, CA
Newbie
Sep 22, 2008
86 posts
209 upvotes
Toronto
I would avoid NBDB like the plague or Covid 19. Their customer service will make you want to jump off a bridge. The website template will make your eyes bleed!!!!
Newbie
Nov 11, 2011
7 posts
22 upvotes
Any reason you are not on Interactive Brokers. Heads and shoulders better than anything else out there; particularly for active traders.
Member
Jun 29, 2005
479 posts
64 upvotes
I would rather go with big player. My friend told me he doesn't understand what the Rep was saying whenever he called in. Quebec based bank. No wonder.
Jr. Member
Dec 2, 2019
178 posts
384 upvotes
Interactive brokers is actually pretty good.
[OP]
Deal Expert
User avatar
Feb 11, 2009
18032 posts
5376 upvotes
Toronto
nmalhotr wrote: Any reason you are not on Interactive Brokers. Heads and shoulders better than anything else out there; particularly for active traders.
SindbadRFD wrote: Interactive brokers is actually pretty good.
The IB fee structure was the only thing throwing me off. Because they essentially charge for everything separately, something "no fee" and flat rate per trade was simply easier.

I love TD's Market Research area and the overall platform is very user friendly. Customer service there is amazing and never have any issues connecting to anyone or getting special favours (I have a lot of assets and trading activity with them). But I am paying at least $2-3k in commissions a month so seeing if I can cut that down.
Real Estate Agent, MAcc, CPA, CA
Member
Nov 26, 2014
397 posts
652 upvotes
Calgary, AB
Another vote for interactive brokers.
Sr. Member
User avatar
Dec 28, 2010
637 posts
284 upvotes
Well, maybe NB is on to something. I don't like IB but they offer the cheapest rates and that's why I moved over from Questrade to IB.

I do hope we'll get to $0.99 trade commission (or lower), I'll keep an eye on NB for sure but for now I'll stay with IB.
Do you want to meet the love of your life? Look in the mirror. | Byron Katie
Deal Addict
Oct 20, 2004
3423 posts
462 upvotes
Toronto
For those who this may benefit... Scotiabank ultimate account (free with $5000 chequing balance), which gets you free itrade transactions and many other benefits.

There are also many promos going on for new scotia accounts, although I slacked and didn't get anything.

Edit: 10 free itrades for the first year, and 5 free after. I may look into other accounts if I plan on playing the stock market more.
Last edited by flame02 on Jul 15th, 2020 7:01 pm, edited 1 time in total.
Jr. Member
Dec 2, 2019
178 posts
384 upvotes
shopperisbest wrote: interactive brokers got any promo for new user?
I don't think they are having any promo (e.g. cashback etc.). They just have good rates for high Volume traders.
Sr. Member
Dec 18, 2003
582 posts
107 upvotes
interactive brokers margin rate is cheaper then all the other broker by far (1.5%) and if you have big stock account with very profitable stocks, you can take out margin loans too. (dont count towards your debt to income ratio! )
Member
May 30, 2017
492 posts
269 upvotes
Doesn't interactive brokers require a $10,000 usd initial deposit for new accounts?
Deal Addict
Apr 5, 2016
4790 posts
3287 upvotes
Calgary/Vancouver
pewpewpew wrote: is IB CDIC insured?
CDIC does not insure stock holdings so it doesn't matter.
Current Fido and Rogers customer.
Ex Koodo customer.
Jr. Member
Sep 17, 2009
131 posts
46 upvotes
Edmonton
NB is not bad at all. I use TD, WS and NB.
TD’s fes are just rip off and only using them because of thinkorswim and LIRA.
NB fees are really good and their service is comparable with TD. At times their platform is screwed but that’s the case with TD too.
WS had a very basic platform, no option trading, at least not for me.
At times I get motivated to try IB but haven’t tried yet.
Jr. Member
Sep 17, 2009
131 posts
46 upvotes
Edmonton
flame02 wrote: For those who this may benefit... Scotiabank ultimate account (free with $5000 chequing balance), which gets you free itrade transactions and many other benefits.

There are also many promos going on for new scotia accounts, although I slacked and didn't get anything.
10 free equity trades at Scotia iTRADE in your first year (approximately $100 value) and 5 free equity trades every year after
Sr. Member
Nov 11, 2006
962 posts
440 upvotes
deal_with_singh wrote: Just saw this offer, National Bank is offering $0.99 commissions for those making over 100 trades per quarter.

https://nbdb.ca/pricing.html


We're getting close to the US rates of $0 at this point! Maybe the other banks follow but this is great for those making 100+ trades every 3 months.

I'm currently paying $4.99 to TD (and their standard active trader offer is $7) and have close to 500 trades per quarter within our household so will be huge savings to move.

If anyone is on the platform hopefully you can post some experiences!
I’ve been with NB for approximately one month so far. At a certain asset level (1M+) you get a private account manager assigned to you which is helpful especially at the beginning.

If you are an active trader generating commissions on 40+ trades per month, you essentially get Market-Q with level 2 quotes for free.

Be warned though: they do not have a mobile app. You need to access their platform through the web on a mobile device.

On large share count transactions, NB’s commissions end up cheaper than IB.

IB’s options trading commissions and margin rates are cheaper though. IB also offers assignment and exercise of options for free which is a huge benefit.

Except for the lack of a mobile app, which I find frustrating, I’m generally satisfied so far.

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