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“The young investor strategy is a focus that we’ve had for some time,” said Viki Lazaris, head of BMO InvestorLine.
“The young investor strategy is a focus that we’ve had for some time,” said Viki Lazaris, head of BMO InvestorLine.
(Fred Lum/The Globe and Mail)

Canadian banks slash online trading fees

Canadian banks are slashing the trading fees charged by their online investing platforms, a sudden about-face after years of ignoring intense competition from independent rivals with cheaper prices.

In the past month, Royal Bank of Canada, Toronto-Dominion Bank and Bank of Montreal each cut their discount brokerage prices. Now any of their clients, regardless of their portfolio size, can buy or sell a stock for $9.95 to $9.99 – a low fee historically reserved for clients with tens of thousands of dollars to invest.