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    *Updated Nov. 23* Nothin’ lasts forever, even cold November rain. It seems odd yet appropriate to reference a Guns & Roses song as we head into a new month of deals and promotions coverage of Canada’s discount brokerages. Like the band, however, deals & promotions are still rocking on even as we head into the […]

    *Updated Nov. 23* Nothin’ lasts forever, even cold November rain. It seems odd yet appropriate to reference a Guns & Roses song as we head into a new month of deals and promotions coverage of Canada’s discount brokerages. Like the band, however, deals & promotions are still rocking on even as we head into the last two months of 2016.

    While it may feel a bit gloomy heading into a new month with no new offers to report, in reality there are still 23 26 active offers for DIY investors interested in opening an online trading account to take advantage of. Also, several sources from across the online brokerage space have hinted that a number of deals are in the pipeline, some of which may be launching this month. No need to sing the blues after all.

    Another interesting piece of news on the discount brokerage deals front, which was reported in the weekly roundup from October 14th, reveals that there is a substantial mismatch between what online brokerages are and have been offering, and what it seems that DIY investors want.

    Based on our survey from September, it is clear that DIY investors on the hunt for an incentive are much more inclined towards cash-back offers instead of commission-free trades. Other than those two types of offers, there really was little to no interest in other types of discount brokerage deals.

    When compared against what is being pitched to investors, however, this might explain why so many DIY investors might be feeling ‘underwhelmed’ by the offers being pitched thus far.

    The results from our most recent survey will also be published soon and they promise to have some very intriguing findings.  In the meantime, check out our latest quick survey below.

    New Deals

    *Update Nov. 11: Virtual Brokers has relaunched their cash-back referral offer with a slight upgrade. Their latest cash-back referral offering now has three deposit tiers starting at a minimum of $5,000 $1,000 and going up to $50,000+ and they’ve increased the maximum cash-back amount from $50 to $75. See table below for more details.

    Qtrade Investor has also launched an upgrade to their transfer-fee rebate offer. The threshold to qualify for this offer has been reduced from $25,000 down to $10,000 making switching to Qtrade much more accessible. See table below for details.*

    Nothing to report at the moment.

    Extended Deals

    Two offers from BMO InvestorLine that were scheduled to conclude at the end of October have been renewed and extended. BMO InvestorLine’s commission-free/cash-back offer has been extended into January whereas their refer-a-friend program has been extended well out into 2017, ending in June. See tables below for more information.

    Expired deals

    Qtrade Investor promotion in which DIY investors could purchase ETFs commission-free in October officially concluded at the end of the month. That said, it appears that Qtrade has also added 40 new commission-free ETFs into its lineup bringing the total number of commission free ETFs to 100.

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    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
    Jitney Trade 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
    Disnat Desjardins Online Brokerage is offering new clients 1% of assets transferred into the new account in the form of commission credits (to a maximum value of $1,000). Minimum qualifying deposit is $10,000. To qualify, individuals will have to call 1-866-873-7103 and mention promo code DisnatFlex or email: [email protected]. See details link for more info. $10,000 1% of assets transferred in the form of commission-credits (max credits: $1,000) 6 months Disnat 1% Commission Credit Promo December 31, 2016
    Open and fund a new account with HSBC InvestDirect with at least A) $25,000; B) $50,000; C) $100,000; D) $250,000; E) $500,000 or F) $1,000,000+ and you may be eligible to receive a cash bonus offer of A) $88; B) $188; C) $288; D) $388; E) $688 or F) $988. Be sure to read terms and conditions for full offer details. A) $25,000 – $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+ Cash back bonus A) $88 B) $188 C) $288 D) $388 E) $688 F) $988 Bonus will be credited to the qualified accounts by July 31, 2017 HSBC InvestDirect Cash Bonus Promo December 30, 2016
    Scotia iTrade Open and fund a new account with Scotia iTRADE with at least A) $25,000; B) $50,000; C) $100,00 or D) $250,000+ and you may be eligible to receive A) 75; B) 150; C) 200 or D) 250 commission-free trades. Use promo code F16FT when signing up. 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+ Commission-free trades 90 days 250 free trade offer November 30, 2016
    Scotia iTrade Open and fund a new account with Scotia iTRADE with at least A) $25,000; B) $50,000; C) $100,00 or D) $250,000; E) $500,000 or F) $1,000,000+ and you may be eligible to receive 50 commission free trades plus A) 5,000; B) 7,500; C) 20,000; D) 35,000; E) 50,000 or F) 100,000 SCENE points. Use promo code F16SC when signing up to qualify. Be sure to read terms & conditions for full details. A) $25,000 – $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) Commission-free trades + B) SCENE reward points 90 days (for trades) SCENE points will be awarded by June 30, 2017. Free trade + SCENE points offer November 30, 2016
    BMO InvestorLine Open a new qualifying account with BMO InvestorLine, and fund it with at least $100,000 and you may be eligible to receive $200 cash back as well as 20 commission-free equity trades. Use promo code PROMO200 when signing up to be eligible. Be sure to read the terms and conditions for more details on the offer. $100,000 $200 cash back + 20 commission-free equity trades Cash back will be deposited the week of August 7, 2017. Fall 2016 Promotion Phase 2 January 3, 2017

    Expired Offers

    Last Updated: Nov. 1, 2016 13:30 PT

    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
    Scotia iTrade 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 tbd
    If you (an existing Virtual Brokers client) refer a friend or family member to open a new account with at least $1,000 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) $1,000 – $24,999; B) $25,000 – $49,999 or C) $50,000+ may be eligible to receive A) $25; B) $50 or C) $75 cash back. Be sure to read the full terms and conditions carefully for full details. A) $1,000 – $24,999 B) $25,000 – $49,999 C) $50,000+ Referrer: $25 per referral; $50 bonus for each 3 or more referrals. Referee: A) $25 B) $50 C) $75 Cash to be deposited to VB account by March 31, 2017. Cash Referral Program January 31, 2017
    BMO InvestorLine 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 45 days after minimum 90 day holding period(subject to conditions). BMO InvestorLine Refer-a-Friend June 30, 2017

    Expired Offers

    Open a new account (TFSA, Margin or RRSP) and receive $50 commission credit . Use promo code: kdkfnbbc $1,000 $50 commission credit 30 days none none
    Last Updated: Nov. 23, 2016 08:30 PT

    Transfer Fee Promotions

    Company Brief Description Maximum Transfer Fee Coverage Amount Minimum Deposit Amount for Transfer Fee Eligibility Details Link Deadline
    Transfer $10,000 or more to Qtrade Investor from another brokerage and Qtrade Investor may cover up to $150 in transfer fees. See terms and conditions for more details. $150 $10,000 Transfer Fee Rebate December 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 contact TD Direct Investing for further details. $150 $25,000 Contact client service for more information (1-800-465-5463). none
    Transfer $25,000 or more to Virtual Brokers and they may cover up to $150 in transfer fees. $150 $25,000 Transfer Fee promo September 30, 2016
    Scotia iTrade Transfer $25,000 or more to Scotia iTRADE when opening a new account and they will cover up to $150 in transfer fees. $150 $25,000 Eligible with both offers: Free trade + SCENE points offer and 250 free trade offer November 30, 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 information (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 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 September 30, 2016

    Expired Offers

    Last Updated: Nov. 16, 2016 12:30 PT

    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
    Disnat Desjardins Online Brokerage, in conjunction with MoneyTalks, is offering 3 months of the “Inside Edge” investor information service to Desjardins Online Brokerage clients. Use promo code DESJ2016 during checkout to qualify. Be sure to read full terms and conditions for more information. n/a MoneyTalks Inside Edge Discount none
    Disnat 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
    Scotia iTrade 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 Virtual Brokers with a deposit of at least $1,000 (for the Classic Commission Account) or $5,000 (for the Commission Free Trading Account) and you may be eligible to receive a one-year subscription to access 5i Research. Use promo code 5iVB2016 when signing up. Be sure to read terms and conditions for full details. $1,000 (Classic Commission Account); $5,000 (Commission Free Trading Account) 5i Research Offer March 31, 2017

    Expired Offers

    Last Updated: Nov. 1, 13:30 PT