Stock Trading Commission Comparison
Here are the online stock trading commissions that would apply in three different transactions. Where multiple prices appear, the first applies to clients with accounts big enough to qualify for commission discounts and the second applies to small accounts (see footnote for details on CIBC Investor’s Edge). Discounts for active trading are not included. Check with individual firms to see how big your account needs to be to qualify for lower commissions.
|CIBC Investor's Edge||6.95/9.95/28.95||6.95/9.95/36||6.95/9.95/225|
|Nat'l Bk Direct Brkrge||9.95/28.95||9.95/36||9.95/225|
|RBC Direct Investing||9.95/28.95||9.95/36||9.95/225|
Notes: Qtrade and Questrade may in some cases charge additional electronic network (ECN) fees; For limit orders placed by clients with less than $50,000, Qtrade charges an additional $4 per trade; Virtual Brokers has three commission plans - the one shown here is called "The Penny"; CIBC charges $6.95 to clients who have $100K in household business with the bank.
As part of this year's online brokerage ranking, firms were asked how much they would have charged a client to buy 100 and 1,000 shares of Microsoft at a price of $30 (U.S.) per share. Here's the price quoted by each broker, including foreign exchange charges, effective on the morning of Oct. 1. Stock-trading commissions are not included here.
cost in C$
cost in C$
|CIBC Investor's Edge||3,144.90||31,254.00|
|Nat'l Bk Direct Brokerage||3,139.50||31,200.00|
|RBC Direct Investing||3,143.10||31,191.00|
Interest rates on margin debt
In a margin account, an investor borrows money from his or her broker to buy securities. These are base rates that apply to Canadian-dollar balances; lower rates may apply on larger balances.
|CIBC Investor's Edge||4.25%|
|Nat'l Bk Direct Brokerage||4.25%|
|RBC Direct Investing||4.25%|