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ONLINE BROKERAGE REVIEW

National Bank Direct Brokerage Review 2022

Updated September 20, 2022

Quick Info

  • Standard Equity Commission
    $0
  • Best Commission Price
    $0
  • Minimum to Open Account
    Not Required
  • Maintenance/Inactivity Fees
    $100/year
  • Commission-free ETF Trading
    Yes
  • Young Investor Offer
    Yes (Age range: 18-30; or students)
  • Compare to Another Brokerage

HIGHLIGHTS

3.0/5 (4)

In August 2021, National Bank Direct Brokerage (NBDB) made an ambitious move in its pricing structure, unveiling zero-commission pricing for all Canadian and US stock and ETF trades, with no minimum required. Prior to that, they had been offering the leading rate for commissions for equity trades among Canadian bank-owned online brokerages, as well as commission-free trading for Canadian and US ETFs.

As they are a bank-owned online brokerage, National Bank Direct Brokerage offers the convenience of branch services as well as the ability to manage other National Bank financial products via the standard National Bank online interface. Like their peers, National Bank Direct Brokerage offers online trading in stocks, ETFs, options, mutual funds, and bonds.

National Bank Direct Brokerage Full Review

What Account Types does National Bank Direct Brokerage offer?

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    Registered Accounts

    Non-Registered Accounts

Account Fees & Requirements for National Bank Direct Brokerage

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    Registered Accounts

    Non-Registered Accounts

Trading Commissions & Fees provided by National Bank Direct Brokerage

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National Bank Direct Brokerage Rankings & Reviews for 2022

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  • Sorry, no data is available.

How can I contact National Bank Direct Brokerage customer support?

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National Bank Direct Brokerage Downtime Report

National Bank Direct Brokerage down? Submit an incident report using our exclusive online brokerage outage tracker and view reported incidents from other users.

Click here to view current National Bank Direct Brokerage Downtime Report

What do people think of National Bank Direct Brokerage?

deltatux
PersonalFinanceCanada
9/22/2022
Questrade is a popular choice but may not be the best choice. If you're looking to stick to only CAD trades, WealthSimple Trade offers free buying/selling. If you want to also do USD trades, National Bank Direct Brokerage offers free buying/selling. However, with NBDB, you need to either keep your investment balance of $20k+ to avoid account fees or you hold one of their special account packages available to select professions (like healthcare, business, IT, engineering and educational professionals). CI Direct also offers free ETF purchases but has lower selling fees than Questrade, it's 1 cent per share to sell like Questrade but it's $2 minimum, $7 max, instead of Questrade's $5 minimum and $10 max. Other brokerages like Scotia iTrade and QTrade (not to be confused with Questrade) offers select ETFs for free as well.
deltatux
PersonalFinanceCanada
9/21/2022
Not sure what the layoffs have to do with trusting your money with them. WealthSimple offers a self directed trading platform and a roboadvisor service, both are largely digital services that don't really require humans to offer the service. Many companies have been slashing their head counts recently, WealthSimple is just one of them. Questrade is a good low cost option with the ability to buy ETFs free and they have a low cost roboadvisor service as well. Another option is National Bank Direct Brokerage where you can buy and sell for free. You can stick with CIBC if you want but keep in mind that they charge $6.95 per trade. There doesn't seem to be any free options.
Loose771
CanadianInvestor
9/21/2022
NATIONAL BANK DIRECT BROKERAGE NO COMMISSIONS, INFINITE FREE TRADES ON EQUITES.
atchoooo
wealthica
9/20/2022
This should work now. Have you tried reconnecting? You should be able to use the National Bank Direct Brokerage connector or the NBDB (Online Banking Login) connector. Try fixing the connection / re-authenticate.
bending_bars13
wealthica
9/20/2022
National bank direct brokerage is not working for me after they changed from userID to email address for login.