*Update Mar. 18* While there were lots of offers available to DIY investors from Canadian online brokerages into the RRSP contribution deadline, there were definitely fewer than last year. Volatile markets and Canadians signaling their reluctance to contribute to an RRSP this year might have contributed to the pullback in participation by brokerages however there may also be signs that the Canadian discount brokerage landscape may be gearing up for the inevitable shakeup.

Heading into this new month there are two big stories. First, Virtual Brokers has started to offer referrals for ‘friends and family’ which now enables Virtual Brokers’ clients to earn a cash referral fee for a new account signup.

The second exciting story is that we’re refining the way in which discount brokerage promotions are being reported and expanding the types of promotions we’re covering. One of the primary objectives of SparxTrading.com is to help simplify the process of choosing an online brokerage and that includes sifting through the deals and promotions being offered.

With so many offers currently on the market things have gotten a bit unwieldy and so we’ve decided to split the deals and promotions into the following four categories for easier comparison and review:

1. Cash Back/Free Trade/Product Offer Promotions
2. Referral Promotions
3. Transfer Fee Promotions
4. Contests & Other Offers

The Cash Back/Free Trade/Product Offer category of promotions includes those offers from brokerages that typically consist of a user either getting cash back, free trades or trading credits (either through waived commission fees or commission reimbursements) and product offer promotions where a discount brokerage may be offering up a tangible item or equivalent gift card which has a definable market value.

The referral promotions cover the affiliate programs that a brokerage may be offering. These would typically include the “refer-a-friend” style promotions as well as any affiliate program codes that SparxTrading has access to (and for which we may receive any compensation for).

The transfer fee table will remain unchanged and it covers the fees that online brokerages are typically willing to cover when transferring between one brokerage and another.

Finally, the ‘contests & other offers’ covers any additional promotion that a brokerage might be running that is advertised to new or existing clients or even to the general public (as most contests are generally open to more than just clients).

We’re excited by the update and look forward to seeing where things go from here as there are 19 offers at the time of writing but 11 deals and promotions that are scheduled to expire in March which should make this month an exciting one. As always, if there are promotions that you’re aware of that we haven’t included, let us know and we can share it with all of our readers.

Expired Deals

Only one offer officially expired at the end of February: Questrade’s 25 commission-free trades for a year offer. That said, there are two offers that expire at the end of day (11:59 ET) on March 1^st: Questrade’s 3 months of commission-free trading (code RSP2016) and BMO InvestorLine’s 2016 combined free trade and cash back offer (See extended deals section for update). Questrade also has another promotion scheduled to expire on the 4^th of March.

Extended Deals

*Update Mar. 2: BMO InvestorLine has extended their combined free trade and cash back offer through the end of May. See table below for updated deadline date and promo code.*

No deal extensions were noted at the time of publication.

New Deals

*Update Mar. 18: Virtual Brokers has just launched another new promotion and it is a big one. They are offering up 3 months free of their Edge Trader Pro trading platform which then qualifies a user to trade on their commission-free trading commission plan. In short, this offer lets users trade for 3 months commission-free (on equities only) since the $150 USD/mo platform fee associated with this plan will be credited for 3 months. The minimum deposit required to qualify for this promotion is $5,000 CAD. Be sure to see the table below for more details.

*Update Mar. 2: Qtrade Investor has a transfer fee promotion that will cover transfer fees from another brokerage for a deposit of at least $10,000. See table below for more details.*

Virtual Brokers is the only Canadian online brokerage to start off March with a new promotion. They are launching a referral program – albeit for a limited time – that offers $25 cash back for a referral from a friend or family member of an existing Virtual Brokers account holder. Interestingly, and similar to Questrade’s referral promotion, individuals referring 3 or more new accounts to Virtual Brokers receive an extra $50. For individuals referred to this program, there are tiered rewards depending on deposit level. Individuals depositing at least $5,000 (and up to $50,000) can receive a $25 cash back offer; individuals contributing more than $50,000 can receive a cash back bonus of $50.

This new offer is interesting on a number of levels, not the least of which is actually the detail with which the terms and conditions spell out who is considered a ‘friend’ for the purposes of this promotion. See the table below for more details.

Discount Brokerage Deals

1. Cash Back/Free Trade/Product Offer Promotions
2. Referral Promotions
3. Transfer Fee Promotions
4. Contests & Other Offers

Cash Back/Free Trade/Product Offer Promotions

Company	Brief Description	Minimum Deposit Amount	Commission/Cash Offer/Promotion Type	Time Limit to Use Commission/Cash Offer	Details Link	Deadline
	A Sparx Trading exclusive offer! Use the promo code “Sparx Trading” when signing up for a new account with Jitneytrade and receive access to their preferred pricing package.	n/a	Discounted Commission Rates	none	For more details click here	none
	Open and fund a new account (TFSA, Margin or RRSP) with at least $1,000 and you may be eligible to receive 5 commission-free trades. Use promo code 5FREETRADES when signing up. Be sure to read terms and conditions carefully.	$1,000	5 commission-free trades	60 days	5 commission-free trade offer	December 31, 2016
	Open and fund a new account at Virtual Brokers with at least $5,000 and you may be eligible to receive 3 months of commission-free equity trading and a $150 USD/mo credit towards Edge Trader Pro for 3 months. Use promo code sent at sign up to qualify. Be sure to read full terms and conditions for details.	$5,000	3 months commission-free equity trading + $150 USD/mo platform fee rebate.	3 months	3 months free trading / Sign up form for promo code available here	none
	Open and fund a new account with Virtual Brokers with at least A) $15,000; B) $25,000 C) $50,000; D) $100,000 or E) $250,000+ and you may be eligible to receive A) 25; B) 50; C) 100; D) 150 or E) 200 commission-free equity (stock & ETF) trades. In addition, qualifying applicants will also be entered into a draw for a $500 Apple gift card. Use promo code 200APPLEWATCH when signing up to be eligible. Be sure to read the terms and conditions for full details.	A) $15,000 – $24,999 B) $25,000 – $49,999 C) $50,000 – $99,999 D) $100,000 – $249,999 E) $250,000+	A) 25 commission-free trades B) 50 commission-free trades C) 100 commission-free trades D) 150 commission-free trades E) 200 commission-free trades	90 days (cash for commissions to be credited back Aug. 2, 2016)	Virtual Brokers RRSP 2016 Free Trade Promo	March 31, 2016
	Open and fund a new National Bank Direct Brokerage account with at least A) $20,000 or B) $100,00 and you may be eligible to receive up to either A) $500 or B) $1,000 in commission credits. Use promo code CashBack2016 when registering for an account to qualify. Be sure to read full terms and conditions for additional details.	A) $20,000 – $99,999 B) $100,000+	A) $500 in commission credit B) $1,000 in commission credit	90 days	Cash back promo	March 31, 2016
	Open and fund a new account at Scotia iTrade with at least A) $25,000; B) $50,000; C) $100,000 or $250,000+ and you may be eligible to receive up to A) 75; B) 150; C) 300 or D) 500 commission-free trades. Use promo code TRADES-RSP16 when opening account to be eligible. Be sure to read terms and conditions for full details.	A) $25,000 – $49,999 B) $50,000 – $99,999 C) $100,000 – $249,999 D) $250,000+	A) 75 commission-free trades B) 150 commission-free trades C) 300 commission-free trades D) 500 commission-free trades	90 days	Free Trade Offer	March 31, 2016
	Open and fund a new account at TD Direct Investing with at least A) $25,000; B) $50,000 or C) $100,000+ and you may be eligible to receive up to A) 50; B) 100 or C) 200 commission-free trades. Be sure to read terms and conditions for full details.	A) $25,000 – $49,999 B) $50,000 – $99,999 C) $100,000	A) 50 commission-free trades B) 100 commission-free trades C) 200 commission-free trades	60 days	Commission-free Trading Offer	April 15, 2015
	Disnat is offering new & existing clients $500 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 1-866-873-7103 and mention promo code Disnat500. See details link for more info.	$50,000	$500 commission credit	6 months	Disnat $500 Commission Credit Promo	March 31, 2016
	Open or fund an eligible account with at least $100,000 and make at least one commission generating trade and you may be eligible to receive a $500 gift card for the Apple Store. Use promo code APPLEWATCH when signing up. Be sure to read terms and conditions carefully.	$100,000	$500 Apple Store gift card	Gift card will be sent within 30 days of client meeting eligibility requirements.	Apple Watch Promo	March 31, 2016
	Open a new qualifying account with BMO InvestorLine, and fund it with at least A) $100,000 or B) $250,000 in net new assets and you may be eligible to receive either A) $200 cash back and 100 commission-free equity trades or B) $600 cash back and 100 commission-free equity trades. Use promo code Spring1600 when signing up to be eligible. Be sure to read the terms and conditions for more details on the offer.	A) $100,000 – $249,999 B) $250,000+	A) $200 cash back + 100 commission-free equity trades. B) $600 cash back + 100 commission-free equity trades.	60 days for equity trades. Cash back will be deposited the week of Oct. 10, 2016. Commission rebates will be paid week of Oct. 10, 2016.	Spring 2016 Promotion	May 31, 2016
Expired Offers
	Open and fund a new qualifying account (registered or margin) with at least A) $2,000; B) $25,000 or C) $50,000 and receive either A) 1 month; B) 2 months or C) 3 months of commission-free trading. Use promo code RSP2016 when registering. Be sure to read terms and conditions for full details.	A) $2,000 B) $25,000 C) $50,000	Commission-free trades	A) 1 month B) 2 months C) 3 months	RSP 2016 Promotion	March 1, 2016
	Open and fund a new qualifying account (registered or margin) with at least A) $1,000; B) $25,000 or C) $50,000 and receive either A) 1 month; B) 2 months or C) 3 months of commission-free trading. Use promo code UNLIMITEDW16 when registering. Be sure to read terms and conditions for full details.	A) $1,000 B) $25,000 C) $50,000	Commission-free trades	A) 1 month B) 2 months C) 3 months	3 months unlimited trading	March 4, 2016
	Open a new qualifying account with HSBC InvestDirect and you could be eligible to receive up to 30 commission-free North American equity trades. Be sure to read terms and conditions for full details.	n/a	30 commission-free trades.	60 days	Winter free trade promotion	March 15, 2016
	Open and fund a new account (or existing clients can transfer in new assets) at Credential Direct with at least A) $15,000; B) $50,000; C) $150,000; D) $500,000 or E) $1,000,000 and you may be eligible to receive at least A) $75; B) $125; C) $200; D) $500 or E) $1,000. Applicants need to use code CASH2016RSP and fund account in order to qualify for cash back offer. Be sure to read terms and conditions for full details.	A) $15,000 – $49,999 B) $50,000 – $149,999 C) $150,000 – $499,999 D) $500,000 – $999,999 E) $1,000,000+	A) $75 B) $125 C) $200 D) $500 E) $1,000	Cash credited to account on Oct. 15, 2016.	Cash Back Offer	March 15, 2016
Last Updated: March 18, 2016 11:05 PM PT
	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

Referral Promotions

Company	Brief Description	Minimum Deposit Amount	Incentive Structure	Time Limit to Use Commission/Cash Offer Deposit	Details Link	Deadline
	Refer a friend to Questrade and when they open an account you receive $25 cash back and they receive either A) $25; B) $50; C) $75; D) $100; or E) $250 depending on the amount deposited amount. Enter code: 476104302388759 during account sign up to qualify. Be sure to read the terms and conditions for eligibility and additional bonus payment structure and minimum balance requirements.	A) $1,000 – $9,999 B) $10,000 – $24,999 C) $25,000 – $49,999 D) $50,000 -$99,999 E) $100,000+	$25 cash back (for referrer per referral; $50 bonus cash back for every 3rd referral) For referred individuals: A) $25 cash back B) $50 cash back C) $75 cash back D) $100 cash back E) $250 cash back	Cash deposited into Questrade billing account within 7 days after funding period ends (90 days)	Refer a friend terms and conditions Code Number: 476104302388759	none
	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	March 31, 2016
	If you (an existing Virtual Brokers client) refer a friend or family member to open a new account with at least $5,000 you may be eligible to receive $25 cash per referral. For 3 or more referrals Virtual Brokers will add a $50 bonus. Referred individuals depositing either A) $5,000 – $50,000 or B) $50,000+ may be eligible to receive A) $25 or B) $50 cash back. Be sure to read the full terms and conditions carefully for full details. Be sure to read the terms and conditions to this offer carefully for full details.	A) $5,000 – $50,000 B) $50,000+	Referrer: $25 per referral; $50 bonus for each 3 or more referrals. Referee: A) $25 B) $50	Cash to be deposited to VB account by August 15, 2016.	Cash Referral Program	May 31, 2016
	If you (an existing BMO InvestorLine client) refer a new client to BMO InvestorLine and they open an account with at least $50,000 the referrer and the referee may both be eligible to receive $50 cash. To qualify the referee must use the email of the referrer that is linked to their BMO InvestorLine account. See terms and conditions for full details.	$50,000	You(referrer): $50; Your Friend(referee): $50	Payout occurs after 45 days (subject to conditions).	BMO InvestorLine Refer-a-Friend	June 30, 2016
Expired Offers
	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
Last Updated: Mar. 1, 2016 21:30 PT

Transfer Fee Promotions

Company	Brief Description	Maximum Transfer Fee Coverage Amount	Minimum Deposit Amount for Transfer Fee Eligibility	Details Link	Deadline
	Qtrade Investor will reimburse your transfer fee up to $150 when transferring a balance of $10,000 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.	$150	$10,000	Transfer Fee Rebate	April 29, 2016
	Transfer $15,000 or more to a new Virtual Brokers account from another brokerage and Virtual Brokers may reimburse up to $150 in transfer fees. See terms and conditions for more information.	$150	$15,000	Virtual Brokers 2016 RRSP Promo	March 31, 2016
	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
	Transfer $25,000 or more from another brokerage and Credential Direct will cover up to $150 in transfer fees. Use promo code SWITCHME when signing up to qualify for the transfer promotion.	$150	$25,000	Credential Direct Transfer Fee Rebate	none
	Move your brokerage account to Questrade and they’ll cover the transfer-out fee up to $150.	$150	$25,000	Transfer Fee Promo	none
	Transfer at least $25,000 or more in new assets to TD Direct Investing when opening a new account and you may qualify to have transfer fees reimbursed up to $150. Be sure to read terms and conditions for full details.	$150	$25,000	Commission-free trade promo	April 15, 2016
	Transfer at least $25,000 or more in new assets to Scotia iTrade when opening a new account and Scotia iTrade may reimburse transfer fees up to $150. Be sure to read terms and conditions for full details.	$150	$25,000	Free trade offer	March 31, 2016
	Transfer $25,000 or more into a CIBC Investor’s Edge account and they will reimburse up to $135 in brokerage transfer fees. Clients must call customer service to request rebate after transfer made.	$135	$25,000	confirmed with reps. Contact client service for more info (1-800-567-3343)	none
	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
	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 1-866-873-7103 and mention promo code Disnat500. See details link for more info.	$150	$50,000	Disnat $500 Commission Credit Promo	March 31, 2016
	Transfer $15,000 or more to Scotia iTrade from another Canadian brokerage, and iTrade may pay up to $150 in transfer fees.	$150	$15,000	500 Free Trade or $500 Cash Back Offer	December 31, 2015

Other Promotions

Company	Brief Description	Minimum Deposit Amount Required	Details Link	Deadline
	Credential Direct has partnered with Trend Micro to offer 50% off Trend Micro Titanium Internet Security. Use code “TrendCF” at checkout.	n/a	Trend Micro Special Offer Code	none
	Desjardins Online Brokerage is offering $50 in commission credits for new Disnat Classic clients depositing at least $1,000. See terms and conditions for full details.	$1,000	Broker@ge 18-30 Promotion	none
	Scotiabank StartRight customers can receive 10 commission-free trades when investing $1,000 or more in a new Scotia iTrade account. Trades are good for use for up to 1 year from the date the account is funded. Use promo code SRPE15 when applying (in English) or SRPF15 when applying in French. Be sure to read full terms and conditions for full details.	$1,000	StartRight Free Trade offer	none
	Open a new account with Questrade with at least $2,000 and you may be eligible to receive free tax software and the platinum bundle package form H&R Block. Use promo code HRBLOCK2016 when signing up to qualify. Read the terms and conditions for full details.	$2,000	H&R Block Promo	April 15, 2016

• 

  Online Brokerage Promotions – May 2022

  Current Deals

  May 01, 2022

  Online 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.

  Read More >

• 

  Online Brokerage Promotions – April 2022

  Current Deals

  April 04, 2022

  It’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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