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Email this4:11 am
August 1, 2015
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Interactive Brokers
10:59 am
January 12, 2019
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RetirEd said
I can't figure out what the "IB" referred to in this thread means...
RetirEd
My guess ➡ Investment Brokers
Any other guesses ❓ 
.
-
Dean
" Live Long, Healthy ... And Prosper! "
11:03 am
October 27, 2013
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As already indicated by 'file', Interactive Brokers. It is the 'go to' brokerage for traders especially, low commission and forex rates, etc.
11:56 am
August 20, 2019
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Dean said
My guess ➡ Investment Brokers
Any other guesses ❓
.
Dean
IB or not IB. That is the question....
Interactive Brokers. I started WS and thinking a little about nbdb.
12:56 pm
March 30, 2017
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AltaRed said
As already indicated by 'file', Interactive Brokers. It is the 'go to' brokerage for traders especially, low commission and forex rates, etc.
Indeed. But keep in mind its not for most except those are active and can leverage the power features in its platform. Quotes etc are being charged to the user and you pick the exchanges and level of quotes you want to subscribe to, but it is live streaming which Cad brokers also offer but not free either.
6:50 pm
April 6, 2013
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Interactive Brokers Canada has a complex fee schedule for market data.
Free delayed quotes. If one doesn't need live streaming quotes, there are snapshot real-time quotes.
Need to maintain at least US$500 of account equity. US 1¢ each for US equities. US 3¢ each for snapshot quotes of others, like TSX listed equities. First US$1 of snapshot quotes is free each month.
10:10 am
September 14, 2021
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Check the National Bank Direct Brokerage terms and conditions carefully.
Free commissions means 100 free trades or 12 months, whichever comes first, after which regular commission rates will apply.
10:26 am
September 14, 2021
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See https://nbdb.ca/content/bncd/en/accueil/comptes/ouvrir.html
Read down, and read notes 1, 3 and 5 in:
The fine print
Eligibility requirements
1. This promotion is available from March 15 to September 30, 2021. It applies to new and current NBDB clients who open a new account.
2. Existing clients must open a new account and the free trades will apply only to the new account(s). Cash, margin and overdraft accounts as well as Canadian and US accounts from the same plan (e.g. RRSPs) are considered the same type of account.
3. When more than one account is opened under the same root, the maximum number of free trades awarded is 100 (this offer is not cumulative).
4. The promotional code "Free2021" must be indicated on the account opening form.
5. Stocks, options and exchange-traded funds are eligible for free trading, provided that the transactions are carried out through our online platform. Once the free period is over (i.e. one year after the account opening date or when the maximum number of transactions has been reached), the applicable commission schedule, including ETFs at $0, will apply.
6. The client can only take advantage of this offer once (Social Insurance Number is used) and must meet all the eligibility requirements.
7. This promotion is offered to clients who have not benefited from any other one in the last 12 months.
8. Corporate account is also eligible for this offer.
9. This offer may be revoked or amended at any time without prior notice.
10. This offer cannot be combined with any other offer.
11:14 am
April 6, 2013
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Canuck_Flyer said
Check the National Bank Direct Brokerage terms and conditions carefully.
Free commissions means 100 free trades or 12 months, whichever comes first, after which regular commission rates will apply.
That's just their new client promotion.
After the promotion ends, the regular commissions apply. Regular commission is now $0 for stock and ETF trades submitted online.
1:40 pm
April 6, 2013
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One does need to watch out for NBDB's $100 annual admin fee.
According to their fee schedule, the annual admin fee is waived under these conditions:
- You’re a young investor aged 30 or under
- Your assets exceed $20,000 as of May 31 of the current year**
- You make at least 5 transactions in stocks, ETFs, or options, between June 1 and May 31**
- You participate in a financial program for engineers, teachers, healthcare, or business professionals
- You have an InvestCube account
**The year runs from June 1 to May 31.
3:30 pm
October 27, 2013
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Good cautionary note, but should add only one condition has to be satisfied. It would be a rare instance not being able to meet one of the conditions.
2:02 pm
March 2, 2018
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Looks like we have a second bank with zero commissions!
Desjardins Online brokerage
Now I'm hoping that IB will do the same as they did in the US and offer free trades with their IB Lite structure.
I am with both IB and NBDB and trade actively and I will tell you that NBDB Market-Q order entry is painful to say the least.
With IB TWS I have direct access with no confirmations and the ability to attach bracket order.
The Canadian Banks are so far behind to what is available for trading software compared to the US, TD once offered Think Or Swim but now don't unless your grandfathered in 
Any guesses on who's next to offer free trades?
2:23 pm
April 27, 2017
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All discount brokerages will be under pressure but particularly independent ones like Questrade and Qtrade. The ones linked to big 4 can cross sell their services and rely on their brand strength but independents will be bleeding clients and losing out on the new blood.
10:21 am
January 12, 2019
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.
What Mordko said ⬆
Yes, Questrade & Qtrade will likely be next. Then the other discount brokerages will have no choice but to eventually follow suit.
I wouldn't hold our breaths on this, though ... it took 'several years' for the same thing to happen in the States.
- Dean
" Live Long, Healthy ... And Prosper! "
5:12 pm
August 5, 2022
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I'm currently paying 6.95 per stock trade and was looking at switching to National Bank Brokerage for their free trades. Is anyone currently using them that could provide feedback on their trading platform, customer service and overall service?
7:10 pm
October 27, 2013
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I have no idea about NBDB but those offering free commissions are not charities. They are making money off you somehow... either through order flow, or other mechanisms. I think you can google information on how a commission free brokerage makes money (off their clients) and get a variety of responses. Nothing is ever free.
8:03 pm
October 15, 2015
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There has been a thread on national bank free trades in investing on redflagdeals if you want to wade through it.
4:41 am
March 30, 2017
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AltaRed said
I have no idea about NBDB but those offering free commissions are not charities. They are making money off you somehow... either through order flow, or other mechanisms. I think you can google information on how a commission free brokerage makes money (off their clients) and get a variety of responses. Nothing is ever free.
All true. But as long as one puts in limit order vs market order, can’t see how there can be negative impact other than NBDB may not be the fastest to fill ur limit order. One should NEVER put in market order anyway.
And if someone trades a lot, esp US stocks etc, IB is the way to go (their cad commission is per share, not flat rate) or some of the more premium package that TD offer etc that has live streaming quote.
8:40 am
October 27, 2013
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I would think most brokerages provide real time Level 2 quotes, not just live streaming quotes, at certain account levels. I've always had those and I also use limit orders but that is not the point.
The point is commission free brokerages get their revenue flow in other ways, e.g. order flow, currency exchange, account fees, bond spreads, etc. It is a complex subject not worthy of derailing this thread but anyone going with a commission free brokerage should understand they are source of brokerage revenue and be googling for material that describes how such brokerages generate revenue. It is a rather complex subject.
Both BMO Investorline and Scotia iTrade have a list of commission free ETFs. I do understand though they are getting paid in some way for my transaction and it indirectly comes out of my pocket.
9:02 am
January 7, 2020
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I switched over from TD to NB a year ago-- specifically for the free commissions-- as opposed to the 9.99 that TD charged me. Certainly has saved me lots of 9.99 charges, and allowed me to make small purchases, that would not have been practical if I had to pay 9.99 each time
I have had no negative consequences-- at least none that I am aware of! (lol)
The only negative I have noted, is that NB seems to be a day slow posting dividends into my account. (They end up posted for the correct day--- it's just that I don't see them on my account until day following)
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