*Updated May 19* May is finally upon us. For some investors, this is time of year to be looking to exit the markets for the summer. For others, the ongoing uncertainty of the markets is just too alluring to walk away from, especially with speculation around interest rate hikes. Canadian discount brokerages are mindful of the coming summer slowdown which explains the pullback in the number of deals currently being offered and why this month is off to a slow start for promotions – at least with some providers.

The discount brokerage deals landscape going into May shows that a small core of brokerages are likely to be battling it out for new clients. Of the 16 open offers at the outset of the May, 13 of them come from just three online brokerages: BMO InvestorLine (3), Questrade (5) and Scotia iTrade (5).

While it is well established that Questrade is among the most likely to be offering multiple promotions, this month Scotia iTrade suprisingly happens to also have five promotions running concurrently. In particular, the promotion attached to the opening of their new investor centre in downtown Toronto as one of the biggest offers they’ve put out to date.

As for the other discount brokerages currently offering deals, Desjardins Online Brokerage’s offer lasts until the end of June and Virtual Brokers’ offer through the end of May. Whether or not another online brokerage steps into the pool at this point remains to be seen, however it would be an opportune moment for one of them to make a very visible splash.

Expired Deals

There were four offers that ended last month, two during the middle and two and the end. Notably, Credential Direct opted to let their cash-back + free trade offer expire mid-month and Qtrade Investor’s transfer fee promotion was not renewed. The other promotions that expired were the BMO InvestorLine RSP-linked promotion and Questrade’s Motley Fool Canada offer.

Extended Deals

BMO InvestorLine was the only online brokerage to extend an offer from last month. The BMO InvestorLine Youth Promotion aimed at investors between the ages of 18-35 (or now as they’re pitching it those “under 36”) is being extended once again this time until the end of June. See updated details in the table below.

New Deals

*Updated May 19:

Scotia iTrade has relaunched its headline grabbing “$1000 or 1000 trade” offer once again – and this time it looks to be a while before it goes away.  The latest promotion by Scotia iTrade replaces the now expired $500 OR $500 free trade offer. In their latest offer, Scotia iTrade has 6 tiers of deposit category, with deposits of $100,000 or more qualifying for an added bonus of a 6 month subscription to KeeneOnTheMarket.com. Check the table below for additional information.

*Updated May 15:

Questrade has added two new promotions this week.  The first is a replica deal of the 10/100 trade offer in which individuals can receive either 10 or 100 commission free trades (good for up to 60 days) for deposits of either $1,000 or $10,000 or more. It is interesting to see two identical offers running concurrently however this latest offer expires at the end of June whereas the earlier offer expires at the end of May. The second promotion is one that is certainly more headline worthy.  Questrade is pitching the offer as their “Apple Watch” promotion however the fine print on the deal reveals that they are offering an Apple gift card worth $500 – the approximate value of the base model Apple Watch sport.  This promotion is open to individuals depositing at least $100,000 or more in net new assets with Questrade.  See the table below for additional information.*

While it did not technically commence at the beginning of May, the new TFSA-linked offer from Questrade is the only ‘new’ deal heading into the new month. On the heels of the Federal Budget announcement to raise the limit of the TFSA to $10,000, Questrade responded quickly with a cash-back offer of $50 for a deposit of $5,000 or more and $75 for a deposit of $25,000 or more. We suspect that Questrade won’t be the only online brokerage to jump onto the new TFSA limit story with a promotion, however for the time being they’re uncontested by the other brokerages in this key area.

As always, we’ll be on the lookout throughout the month however if there are discount brokerage deals that we’ve missed or that you want to share with other DIY investors, simply drop us a note or post in the forum and we’ll take a look.

Discount Brokerage Deals

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 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
	For individuals between 18 and 35 who open a new qualifying account with BMO InvestorLine, they may be eligible to receive 35 commission-free trades, an eBook on investing, $50 cash back and potentially waived account minimum fees. Use promo code “YOUNG” when signing up. Be sure to read the terms and conditions for more details on the offer.	A) for commission free trades: n/a B) for cash back: $25,000	A) 35 commission-free trades B) $50 cash back + 35 commission-free trades	90 days	Youth Promotion	June 30, 2015
	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
	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
	Open a new account (TFSA, margin or registered account) with Questrade and deposit at least A)$1,000 or B)$10,000 and you may be eligible to receive A)10 commission-free trades or B)100 commission-free trades. Use promo code 100LOWCOM15Q3 when registering. Be sure to read the full terms and conditions for this offer.	A)$1,000 B)$10,000	A) 10 commission-free trades B) 100 commission-free trades	60 days	100 free trades offer	May 29, 2015
	Open a new account (margin or registered account) with Questrade and deposit at least A)$1,000 or B)$10,000 and you may be eligible to receive A)10 commission-free trades or B)100 commission-free trades. Use promo code 100FREEML15Q3 when registering. Be sure to read the full terms and conditions for this offer.	A)$1,000 B)$10,000	A) 10 commission-free trades B) 100 commission-free trades	60 days	100 free trades/multileg offer	June 30, 2015
	Open a new account (TFSA, margin or registered account) with Questrade and deposit at least A)$1,000 or B)$10,000 and you may be eligible to receive A)10 commission-free trades or B)100 commission-free trades. Use promo code 100FREEML15Q3 when registering. Be sure to read the full terms and conditions for this offer.	A)$5,000 B)$25,000	A)$50 B)$75	Cash rebates applied up to 60 days after eligibility confirmed	100 free trades offer	June 30, 2015
	Open a new account (TFSA, margin or registered account) with Questrade and deposit at least A)$5,000; B)$25,000; C)$50,000 or D)$100,000 in order to be eligible to qualify for a Visa gift card in the amount of A) $50; B) $75; C)$100 or D)$250. Clients must also place at least one commission-generating trade within 60 days. Use promo code VISA250 when signing up. Be sure to read terms and conditions for full details.	A)$5,000 B)$25,000 C)$50,000 D)$100,000	A) $50 prepaid Visa card B) $75 prepaid Visa card C) $100 prepaid Visa card D) $250 prepaid Visa card	Prepaid Visa cards may be issued up to 40 days after eligibility confirmed	Prepaid Visa Promotion	May 29, 2015
	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, 2015
	Open and fund a new Scotia iTRADE account with at least A) $15,000 – $49,999; B)$50,000 – $99,999 C)$100,000 – $249,999; or D)$250,000+ and you may be eligible to receive a corresponding cash-back AND commission rebate. New clients use code GO15 when opening the account. Note: Only accounts opened at one of the three downtown Toronto locations specified can qualify for this promotion. Be sure to read the terms and conditions carefully for rebate and cash back eligibility.	A)$15,000 – $49,999 B)$50,000 – $99,999 C)$100,000 – $249,000 D)$250,000+	A) $75 cash back AND 75 commission-free trades B) $125 cash back AND 1255 commission-free trades C) $250 cash back AND 250 commission-free trades D) $500 cash back AND 500 commission-free trades	90 days for commission-free trades. Cash back to be deposited by August 31, 2015.	Cash back AND commission-free trade offer	May 31, 2015
	Open and fund a new account at Virtual Brokers with at least $15,000 and you could be eligible to receive up to 25 commission-free stock or ETF trades good for use for up to one year. Use promo code “TRYUS2015” when signing up to qualify. Be sure to read full terms and conditions carefully.	$15,000	25 commission-free trades	365 days	Free trades for one year promotion	May 31, 2015
	Open and fund a new Scotia iTRADE account with at least A) $15,000 – $49,999; B) $50,000 -$99,999; C)$100,000 – $249,999; D)$250,000 – $499,999; E) $500,000 – $999,999 or F)$1,000,000+ you may be eligible to receive a corresponding cash back or commission rebate. For commission-free trades use code: LBS15FT or for cash rebates use code: LBS15C. Be sure to read the terms and conditions carefully for rebate and cash back eligibility. Contact Scotia iTRADE for full details on this offer.	A) $15,000 – $49,999 B) $50,000 -$99,999 C) $100,000 – $249,999 D) $250,000 – $499,999 E) $500,000 – $999,999 F) $1,000,000+	A) 50 commission-free trades OR $50 cash back B) 100 commission-free trades OR $100 cash back C) 250 commission free trades OR $250 cash back D) 350 commission-free trades OR $350 cash back E) 500 commission-free trades OR $500 cash back F) 1000 commission-free trades OR $1,000 cash back	180 days for commission-free trades Cash back to be deposited by January 31, 2016.	Larry Berman Seminar Offer – Front and Terms & Conditions	May 31, 2015
	Open and fund a new Scotia iTRADE account with at least A) $15,000 – $49,999; B) $50,000 -$99,999; C)$100,000 – $249,999; D)$250,000 – $499,999; E) $500,000 – $999,999 or F)$1,000,000+ you may be eligible to receive a corresponding cash back or commission rebate. For commission-free trades use code: THSP15 or for cash rebates use code: RNYDMN. Be sure to read the terms and conditions carefully for rebate and cash back eligibility. Contact Scotia iTRADE for full details on this offer.	A) $15,000 – $49,999 B) $50,000 -$99,999 C) $100,000 – $249,999 D) $250,000 – $499,999 E) $500,000 – $999,999 F) $1,000,000+	A) 50 commission-free trades OR $50 cash back B) 100 commission-free trades OR $100 cash back C) 250 commission free trades OR $250 cash back + KeeneOnTheMarket Subscription D) 350 commission-free trades OR $350 cash back + KeeneOnTheMarket Subscription E) 500 commission-free trades OR $500 cash back + KeeneOnTheMarket Subscription F) 1000 commission-free trades OR $1,000 cash back + KeeneOnTheMarket Subscription	120 days for commission-free trades Cash back to be deposited by February 13, 2016.	$1000 or 1000 free trade offer	September 13, 2015
	Open a new Scotia iTRADE account with at least $15,000 by June 30, 2015 and you could be eligible to receive up to 100 online trades commission-free (equities, options, ETFs). Use promo code HUN-SP when registering to qualify. Be sure to carefully read full terms and conditions.	$15,000	100 commission-free trades (+ free trial of FightDesk platform for 60 days)	60 days	100 Free Trades Offer	June 30, 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	June 30, 2015
	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 – $249,999 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).	BMO InvestorLine Refer-a-Friend	October 30, 2015
	Open a new account (registered, margin, or FX & CFD) with at least $100,000 in new assets and execute at least one commission generating trade and you may be eligible to receive an Apple Gift Card worth $500.00. Use promo code APPLEWATCH2015 when registering. Be sure to read the full terms and conditions on this offer.	$100,000	$500 Apple Gift Card	n/a	Apple Gift Card Promo	August 31, 2015
	Open and fund a new qualifying account at BMO InvestorLine with at least A)$100,000 – $249,999; B)$250,000 – $499,999 or C)$500,000+ in net new assets and you may be eligible to receive either: A)$250 cash back OR 125 commission-free trades; B) $500 cash back OR 250 commission-free trades; C)$1000 or 500 commission-free trades. Use promo code 5CASH for cash back promotion or 5TRADE for commission-free trade promo. Be sure to read full terms and conditions for eligibility and further details.	A) $100,000 – $249,999 B) $250,000 – $499,999 C) $500,000+	A) $250 cash back OR 125 commission-free trades B) $500 cash back OR 250 commission-free trades C) $1000 or 500 commission-free trades.	Cash back: 6 months – 7.5 months Commission-free trades: 90 days (note: commission fees rebated within 45 days after 6 month credit period)	Five Star Promotion	June 30, 2015
Expired Offers	#colspan#
	Open and fund a new Scotia iTRADE account with at least A) $15,000 – $99,999, B)$100,000 – $499,999, C)$500,000+ and you may be eligible to receive a corresponding cash-back or commission rebate. For commission-free trades use code: PST15 or for cash rebates use code: CSINE. Be sure to read the terms and conditions carefully for rebate and cash back eligibility.	A)$15,000 – $99,999 B)$100,000 – $499,999 C)$500,000+	A) 100 commission-free trades OR $50 cash B) 250 commission-free trades OR $250 cash C) 500 commission-free trades or $500 cash	180 days for commission-free trades Cash back to be deposited by February 17, 2016.	500 Free Trade or $500 Cash Back Offer	May 17, 2015
Last Updated: May 29, 2015 7:00pm PT

Transfer Fee Deals

Company	Brief Description	Maximum Transfer Fee Coverage Amount	Minimum Deposit Amount for Transfer Fee Eligibility	Details Link	Deadline
	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	September 13, 2015
	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
	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	$25,000	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 $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	June 30, 2015

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