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Another way for self-directed investors to cut costs Add to ...

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Online brokers are starting to do to paper account documents what they previously did to trading over the telephone with a live agent – making them prohibitively expensive.

Nearly half the firms in the Globe and Mail’s annual ranking of online brokers still offer free monthly account statements, trade confirmations and tax slips in paper form at no cost. But the other six charge between $2 and $20 per document. If you prefer receiving your documents in paper form, check the chart below to make sure you won’t have to pay exorbitant fees to get it.

Expensive paper

Some online brokerage firms charge stiff fees to send clients paper versions of account statements, trading confirmations and tax documents.

BrokerPaper Account StatementsPaper Trade ConfirmationsPaper Tax Documents
BMO InvestorLine$2 00
CIBC Investor's Edge000
Credential Direct$5/quarter$5/quarter$5/quarter
Desjardins Online Brokerage000
HSBC InvestDirect000
National Bank Direct Brokerage$2 00
Qtrade$6/quarter$2.50 0
Questrade*$20 $20 $20
RBC Direct Investing000
Scotia iTrade000
TD Direct Investing**$2 $2 0
Virtual Brokers$5 $3 $5

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