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[*Updated 4/15/14*] There are noticeably fewer discount brokerage deals & promotions at the start of April than at the same time last month. That said, this is spring and there are any number of surprises that can pop up. While the month starts off on a slightly leaner note than month’s past there were a […]
[*Updated 4/15/14*] There are noticeably fewer discount brokerage deals & promotions at the start of April than at the same time last month. That said, this is spring and there are any number of surprises that can pop up.
While the month starts off on a slightly leaner note than month’s past there were a couple of very big deals announced in March from TD Direct Investing as well as from Desjardins Online Brokerage (Disnat) which should have rival brokerages cooking up a response in the near future.
Coming into April, several deals saw an extension of their deadlines including deals from BMO InvestorLine, Disnat, Virtual Brokers and Scotia iTrade. Of these deals, BMO’s offer is set to expire in early April which suggests that something interesting may be coming from this online brokerage in the days to come.
In terms of expired offers, the major offers from HSBC InvestDirect and National Bank Direct Brokerage were the biggest ones that concluded at the end of March. That said, there are likely promo offers that NBDB is working towards as they continue their push to maintain competitiveness with the bigger online brokerage players in the space.
For investors looking for a promotion or a deal on an online trading account, the good news is that there is still lots to choose from and there are offers that span all activity levels of investor. If the previous months have been any indicator, however, there is likely more to come in the near future especially as Canadians ponder which online brokerage they’d like to invest their income tax refunds with.
New Deals
[Updated 4/15/14] – Scotia iTrade has launched a sizable deal this month with a $500 cash back OR 500 free trade offer for deposits of $500,000 or more. This is largest deposit promotion we’ve seen in some time, a sign that competition is heating up. Cash back or free trade offers are also being made available for deposits of $15,000-$99,999 ($50 or 100 free trades) and for deposits of $100,000-$499,999 ($250 or 250 free trades). In addition, this deal also comes with 6 months free access to Scotia iTrade’s FlightDesk platform and coverage of transfer fees up to $150. More details below]
[Updated 4/14/14 – Questrade jumped back into the deals space again this month, this time with the launch of their cash back offer of $100 for a deposit of $50,000 or $250 for a deposit of $100,000 or more. More details below.]
- Disnat ‘hat trick’ offer
- TD Direct Investing Free Trade Offer
- Questrade Cash Back Promotion
- Scotia iTrade $500/500 trade
Extended Deals
- BMO InvestorLine $300 cash back + 300 trade offer [Update 4/14/14: BMO has extended the deadline for this offer from April 9th to April 30th]
- Disnat $300 commission credit
- Virtual Brokers 25 free trades offer
- Scotia iTrade refer-a-friend
Expired Deals
- BMO InvestorLine: RSP Cross Sell Promotion
- Credential Direct’s 5+5 Offer
- HSBC InvestDirect Dalbar Award Trading Offer
- NBDB Commission Credit Offer
- Questrade iPad Mini Offer
- Questrade Unlimited Trade Offer
- RBC Direct Investing’s 20 Free Trade Offer
- Scotia iTrade Stanley Cup Promotion
Discount Brokerage Deals
| Company | Brief Description | Minimum Deposit Amount | Commission/Cash Offer Type | Time Limit to Use Commission/Cash Offer | Details Link | Deadline |
|---|---|---|---|---|---|---|
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A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitney and receive access to their preferred pricing package and a massive 45% discount on the Real Tick trading platform. | n/a | Discounted Commission Rates | none | For more details click here | none |
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Open and fund a new account at TD Direct Investing with either A)$99,999 or less or B)$100,000 or more and receive commission rebates on either A)30 trades or B)300 trades. New accounts must be opened by April 30, 2014. Be sure to read the terms and conditions for full information on this offer. | A)$0-$99,999 B)$100,000+ | A) 30 commission free trades (rebated) B) 300 commission free trades (rebated) | Trades must be executed by August 1, 2014 4pm ET to qualify for rebate. | TD Direct Investing Free Trade Offer | April 30, 2014 |
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Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc | $1,000 | $50 commission credit | none | none | none |
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Open an account with Virtual Brokers with a deposit at least $1,000 and Virtual Brokers will offer 25 commission free trades which can be used for up to 1 year. Use promo code “FTR2” when signing up. This offer is open to new clients only. Be sure to read the terms and conditions for full details on this offer. | $1,000 | 25 commission-free trades | 365 days | 25 free trades offer | June 30, 2014 |
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Refer a friend to Questrade and when they open an account you receive $100 and they receive $50. To receive this deal you must be an existing client with an equity account and refer a person that does not reside with you and who has not previously opened a Questrade account. | $1,000 | $50 commission credit (friend) $100 commission credit (referrer bonus) | 60 days | Refer a friend | none |
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Open a new account (TFSA, Margin or RRSP) by July 1 2014 A) $1000 or B) $10,000 to receive either A)10 commission-free trades or B)100 commission-free trades. The promo code QT100 must be used at time of account opening. There are many conditions attached to this offer so be sure to read the details link for more information. | A)$1,000 B)$10,000 | A)10 free trades B)100 free trades | 60 days | 100 commission-free trades | July 1, 2014 |
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As part of their Stockscores tour, Disnat Direct is offering a “hat trick” promotion. Open a new account with at least $10,000 by June 15, 2014 and receive: $300 in commission credits, 3 months of trading at $5 commission per trade, 3 months of platform access to DDWeb/DDXtra and 1 year’s free subscription to TradeScores daily newsletter. Use the promo code “Hat Trick” when registering via phone. Read the terms and conditions for more details. | $10,000 | 1) $300 commission credits 2) 3 months of $5/trade commission rate 3) 3 months platform access to DDWeb/DDXtra 4)1 year’s free subscription to TradeScores daily newsletter | 1) 3 months | Disnat Direct Hat Trick Promotion | June 15, 2014 |
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If you refer a friend/family member who is not already a Scotia iTrade account holder to them, both you and your friend get a bonus of either cash or free trades. You have to use the referral form to pass along your info as well as your friend/family members’ contact info in order to qualify. There are lots of details/conditions to this deal so be sure to read the details link. | A)$10,000 B)$50,000+ | A) You(referrer): $50 or 10 free trades; Your “Friend”: $50 or 10 free trades (max total value:$99.90) B) You(referrer): $100 cash or 50 free trades; Your “Friend”: $100 cash or 50 free trades (max total value: $499.50) | 60 days | Refer A Friend to Scotia iTrade | June 30, 2014 |
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Open and fund a new Scotia iTRADE account with at least $15,000 before June 30, 2014 and the commissions associated with your first 100 trades placed within 60 days of the date the account is activated and funded are free. Also, the new FlightDesk platform is being offered for free for 60 days. Use promo code HUN-SP. See details link for further terms and conditions. | $15,000 | 100 commission-free trades ($999 value @ $9.99 commission rate) | 60 days | Scotia iTrade 100 free trades + FlightDesk | June 30, 2014 |
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Open a new account by June 29 & fund with: A) between $15,000-$99,99 B) $100,000-$499,999 or C)$500,000+ and receive either A)$50 cash back or 100 free trades B)$250 cash back or 250 trades or C)$500 cash back or 500 free trades. Also, Scotia iTrade is including 6 months free access to their FlightDesk trading platform. Use promo code: SPTRD14 for free trades and CSHSG for cash back. Be sure to read the terms & conditions on this deal. | A)$15,000 – $99,999 B)$100,000 – $499,999 C)$500,000+ | A)$50 or 100 free trades B)$250 or 250 free trades C)$500 or 500 free trades | Cash Back: deposit by Feb 28/15 Commission Rebate: 90 days | $500 Cash Back or 500 Free Trade promo | June 29, 2014 |
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Disnat is offering new & existing clients $300 in commission credits which can be used for up to 6 months. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. | $50,000 | $300 commission credit | 6 months | Disnat $300 Commission Credit Promo | August 29, 2014 |
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Open and fund a new account with Questrade before May 30th 2014 and receive either A)$100 or B)$250 cash back for a deposit of either A)$50,000 or more or B)$100,000 or more. This offer is open to new and existing clients. Use promo code CASHBACK250 to qualify. Be sure to read the full terms and conditions associated with this offer. | A)$50,000 B)$100,000 | A)$100 cash back B)$250 cash back | Payout occurs within 30 days of account funding | Cash Back 250 Offer | May 30th, 2014 |
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If you refer a new client to BMO InvestorLine and they open an account with a)$50,000 – $249,999 or b)$250,000+ the referrer and the referee will both receive cash. The new account must be opened with the referral code specific to the referrer. | A) $50,000 – $249,000 B) $250,000+ | A) You(referrer): $200; Your Friend(referee): $50 B) You(referrer): $300; Your Friend: $100 | Payout occurs after 60 days (subject to conditions). | Refer A Friend Terms & Conditions | October 31, 2014 |
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[Main offer]Open a new account or deposit new funds of $100,00 or more and you can be eligible for cash rebates of $250 and 250 commission-free trades (Promo code: RSP250). [Bonus Offer] If you open a new account or fund another account you could also be eligible for an additional $50 and 50 commission-free trades (Promo code ADD50). Be sure to read the full details & terms of this offer. | $100,000 (main offer) $5000 (bonus offer) | [main offer] $250 cash back + 250 commission-free trades (max value $2500) [Bonus offer] $50 + 50 commission-free trades | 90 days | $300 + 300 trade offer | April 30, 2014 |
Transfer Fee Deals
| Company | Brief Description | Maximum Transfer Fee Coverage Amount | Minimum Deposit Amount for Transfer Fee Eligibility | Details Link | Deadline |
|---|---|---|---|---|---|
|
Tranfer $15,000 or more and Scotia iTrade may cover up to $150 of the transfer fee. | $150 | $15,000 | $500 Cash Back or 500 Free Trade promo | June 29, 2014 |
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Transfer $15,000 or more to RBC Direct Investing and they will pay up to $135 in transfer fees | $135 | $15,000 | Transfer Fee Rebate Details | none |
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Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150. | $150 | $25,000 | Transfer Fee Promo | none |
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Transfer at least $25,000 to TD Direct Investing and TD will cover up to $150 in transfer fees | $150 | $25,000 | TD Direct Investing Free Trade Offer | April 30, 2014 |
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Virtual Brokers will cover transfer fees from your transferring institution to a maximum of $150 per account. This offer is only applicable to accounts opened with at least $25,000 in equity before June 30, 2014 | $150 | $25,000 | Transfer Fee Promo | June 30, 2014 |
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Transfer $25,000 or more to a National Bank Direct Brokerage account and they will pay up to $135 plus taxes in transfer fees | $135 | $25,000 | Transfer Fee Rebate | none |
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Qtrade Investor will reimburse your transfer fee up to $125 when transferring a balance of $25,000 or more. For reimbursement, please mail or fax a copy of your statement from the transferring institution that shows the transfer charge to Qtrade Investor at 604.484.2627 and indicate your Qtrade Investor account number. | $125 | $25,000 | Transfer Fee Promo | none |
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Disnat is offering up to $150 to cover the cost of transfer fees from another institution. To be eligible, new/existing clients need to deposit $50,000 into a Disnat account. You’ll have to call 1 800 268-8471 and mention promo code Disnat300. See details link for more info. | $150 | $50,000 | Disnat $300 Commission Credit Promo | August 29, 2014 |
Online Brokerage Promotions – May 2022
Current Deals
May 01, 2022Online brokerage promotions in May were slim except for one bank-owned brokerage which is leaning into lowering interest rates on margin lending at a time when rates are rising. Get the latest news on online brokerage offers and why there are likely to be more deals on the horizon as competition intensifies.
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Online Brokerage Promotions – April 2022
Current Deals
April 04, 2022It’s been a wild month already in the deals and promotions space. Check out the latest activity from BMO InvestorLine and RBC Direct Investing as well as updates on offers from National Bank Direct Brokerage and more.
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