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Locked: National Bank Direct Brokerage - $0 Commissions FOR ALL USERS - Stock/ETF Trades

  • Last Updated:
  • Aug 26th, 2021 3:50 pm
[OP]
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Feb 11, 2009
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Toronto

National Bank Direct Brokerage - $0 Commissions FOR ALL USERS - Stock/ETF Trades

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!



Update:

As of August 23, National Bank has now made all Stock and ETF trades commission free!

Options are now $1.25/contract with a minimum of $6.25 commission (I.e. no base commission)

https://nbdb.ca/zero-dollars
Last edited by deal_with_singh on Aug 26th, 2021 3:27 pm, edited 2 times in total.
Realtor - Investment Properties
127 replies
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Dec 15, 2019
124 posts
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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]
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Feb 11, 2009
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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.
Realtor - Investment Properties
Jr. Member
Sep 22, 2008
101 posts
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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
8 posts
23 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
494 posts
65 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.
Member
Dec 2, 2019
298 posts
682 upvotes
Interactive brokers is actually pretty good.
[OP]
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Feb 11, 2009
19366 posts
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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.
Realtor - Investment Properties
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Nov 26, 2014
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Calgary, AB
Another vote for interactive brokers.
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Dec 20, 2018
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winnipeg
SindbadRFD wrote: Interactive brokers is actually pretty good.
interactive brokers got any promo for new user?
Sr. Member
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Dec 28, 2010
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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.
.
Deal Addict
Oct 20, 2004
3621 posts
672 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.
Member
Dec 2, 2019
298 posts
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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
600 posts
131 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! )
Jr. Member
Nov 28, 2014
191 posts
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Toronto, ON
is IB CDIC insured?
Sr. Member
May 30, 2017
706 posts
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Doesn't interactive brokers require a $10,000 usd initial deposit for new accounts?
Deal Fanatic
Apr 5, 2016
5933 posts
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Calgary/Vancouver
pewpewpew wrote: is IB CDIC insured?
CDIC does not insure stock holdings so it doesn't matter.
Jr. Member
Sep 17, 2009
137 posts
50 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
137 posts
50 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
Deal Addict
Nov 11, 2006
1303 posts
829 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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