Expired Hot Deals

[Scotia iTrade] New Client: up to $1,500 cash and $6.99 pricing or 500 free trades

  • Last Updated:
  • Feb 27th, 2020 9:40 pm
[OP]
Member
May 19, 2017
262 posts
120 upvotes

New Client: up to $1,500 cash and $6.99 pricing or 500 free trades

Deal Link:
Expiry:
February 29, 2020
Retailer:
Scotia iTrade
Scotia I-Trade has a promo for new Scotia iTRADE clients only: Up to $1,500 cash and $6.99 pricing or up to 500 free trades

- $1,500 requires $1M investment
- $1,000 requires $500K investment
- $750 requires $250K investment
- $ 400 requires $100K investment
- $200 requires $50K investment
- $100 requires $25K investment

1. Open a new account using offer code C20 for cash and $6.99 pricing per trade offer and FT20 for free equity trades offer by February 29, 2020 and fund it with the minimum required amount by March 31, 2020
2. Hold your funds in your account until June 30, 2020
3. If applicable, $6.99 pricing per trade will be available until June 30, 2020
4. Receive your cash or commission rebate for free trades by July 31, 2020

I have been thinking to open with them for ETF investment. I read some of their ETFs are $0 fee. Is there any other known promo that can be combined with above either with Scotia iTrade or Scotiabank?
9 replies
[OP]
Member
May 19, 2017
262 posts
120 upvotes
I got referred. When can I expect to be contacted by a Relationship Manager? I would like to open before the RRSP rush next week.
Newbie
Aug 16, 2018
13 posts
2 upvotes
Not as good as the 1% cash back TFSA/RRSP transfer up to $500/$750 offered by Meridian IMO. Transfer amounts needed there are much lower.
Deal Fanatic
Oct 7, 2007
6265 posts
2518 upvotes
luck4u2u wrote: There's a "Refer a Friend" referral that can be stacked with this offer. Here is the generic link to the referral form:

https://www.scotiaitrade.com/en/direct- ... riend.html
Thanks for posting the referral program. I asked the rep at itrade about this and he said that both yourself and the referer each need to deposit $10k into their account for the referral bonus to be awarded. I didn't see this mentioned anywhere but he said it is in the fine print which was so small and so long that I didn't actually read through it yet.
Jr. Member
Mar 28, 2011
144 posts
73 upvotes
Oakville
VERY BAD reputation

Unfortunately, I confirmed this by myself.
I participated in the same promo 2 years ago and supposed to receive $300 for account opening.
They sent me only $100 and confirmed that this is "due to internal error" and "promotional department" call me back to fix this.
- Nobody called me back...
I called them in 2-3 months, talked to rep, but "he couldn't resolve this" and somebody from "promotional department" call me back very soon Face With Tears Of Joy
- Nobody called me back...
I tried the second time. As usually the rep "couldn't resolve this" and ... STOP.. - Can I discuss this with supervisor? - Yes for sure - " the manager of "promotional department" call you back very soon Face With Tears Of Joy"
- Nobody called me back...
.....still waiting))))

Summary:
Scotia ""promotional department" together with "customer service" have UNIQUE business approach.
They know how to pissed off the target group of customers who may bring them 500+k.

I will not call them back AGAIN and will waste 40min of my time. I'll probably close ALL my accounts, cards, brokerage, move mortgage in 3 years etc. . BECAUSE I HAVE A GOOD MEMORY. :twisted:
Deal Addict
User avatar
Aug 21, 2008
1306 posts
646 upvotes
Hamilton
If you trade more often I'd not recommend any of the big banks brokerage units.
Big banks charge $7+ of fees/commissions or more per trade whereas IB (Interactive Brokers) usually less than $2.
I heard Wealth Simple Trade is (almost) free for TSX trades but their exchange rate is terrible for US trades as they do not allow to open USD account (yet).
Major US brokerage firms started to offer commission free trades for most investors (sorry Canada, we are an oligopoly nation in banks, groceries, etc so no competition and no comperable offer (yet).
Signing bonuses are OK but if you think long run, IB or WST are better options.
Jr. Member
Dec 24, 2001
114 posts
16 upvotes
This is a pretty middle-of-the-road promo, and in line with the other big bank brokerages. Here's a list of current promos: https://www.sparxtrading.com/current-de ... uary-2020/

I signed up using this promo last year, and didn't get either the promo or the credit to cover port-out fees from my previous brokerage until I called in 3 times, and waited about a month. They did call me about it at one point but only to basically say "keep waiting". At the end of the day, I did get it, and don't trade often so it would take a long time for $7-10 to eat up the welcome bonus.
Member
User avatar
Mar 22, 2018
259 posts
262 upvotes
Canada
Horrible! Both the company and the promotion.
A referral of a new account of $1million should net you a 1% fee, so $10,000.
$1,500 is laughable.
Member
User avatar
Jul 14, 2018
306 posts
360 upvotes
HamsiBrain wrote: If you trade more often I'd not recommend any of the big banks brokerage units.
Big banks charge $7+ of fees/commissions or more per trade whereas IB (Interactive Brokers) usually less than $2.
I heard Wealth Simple Trade is (almost) free for TSX trades but their exchange rate is terrible for US trades as they do not allow to open USD account (yet).
Major US brokerage firms started to offer commission free trades for most investors (sorry Canada, we are an oligopoly nation in banks, groceries, etc so no competition and no comperable offer (yet).
Signing bonuses are OK but if you think long run, IB or WST are better options.
I agree with Interactive Brokers. I use them for my taxable trading account and the fees are the best you can get as a Canadian.
The only issue is some people might be intimidated using Trader Workstation, although I believe you can take care of your buying through the web login and it might be a bit simpler that way.

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