# New Flat Fee Pricing at CIBC Investors Edge



## dave2012 (Feb 17, 2012)

Doesn't affect me as we had the minimum required previously for $6.95 trades, but might others considering/using the CIBC Investors Edge platform...

_NEW Flat-Fee Pricing In Effect

Effective October 6, 2014, all CIBC Investor's Edge clients pay the same flat-rate commissions of $6.95 for Canadian and U.S. electronic equity trades. There's no minimum balance and no minimum number of trades required.

This change is automatic; no action on your part is required. All new equity trades placed on or after October 6, 2014 will be at the new flat rate of $6.95._

Are other brockerages doing the same in regards to not requiring a minimum?
Cheers


----------



## Butters (Apr 20, 2012)

Wow, that's amazing!

Royal and TD both have 9.95 flat

I'm still with Questrade for now because of free ETFs and typically $5 a trade
But I want synthetic DRIP * discounts * which questrade does not give

But this CIBC is good news! Thanks for sharing.


----------



## humble_pie (Jun 7, 2009)

dave2012 said:


> Doesn't affect me as we had the minimum required previously for $6.95 trades, but might others considering/using the CIBC Investors Edge platform...
> 
> _NEW Flat-Fee Pricing In Effect
> 
> ...



thanks for the headsup. 

time to put pressure on the other bank brokers - td, bmo, roybank, scotia.

PS i hear that for active traders - those with 150 trades or more per quarter - the TD is quietly matching scotia's widely-advertised $4.95 active trader commission. Also i hear that BMO is rolling out an active trader platform very soon although nobody seems to have any price details yet.


----------



## My Own Advisor (Sep 24, 2012)

Wow, need to tweet that...that's good! Well done CIBC.

I believe CIBC (Investor's Edge) allows you to run a synthetic DRIP for ETFs and stocks.


----------



## humble_pie (Jun 7, 2009)

i sense a marvellous era of ever-lowering broker commish dawning

tweet, ask, remind, compare, keep up the pressure guys

_... and the walls came tumbling down _


----------



## HaroldCrump (Jun 10, 2009)

Keep in mind that part of the reason that all the major big-bank brokers are able to keep reducing trading commissions is because they are able to derive increasing revenue from their dark pools, from opening up their order book to HFTs, and to get market taking kickbacks from various electronic exchanges for sending their orders.


----------



## AMABILE (Apr 3, 2009)

the rate is great for CIBC , but i hate their site
for placing trades , it defaults to last business day,
have to go to another screen for intra - day holdings,
another screen for book value , profit or loss
BMO is the best platform for placing trades and
all of the above mentioned details default on
one screen with to-day's info


----------



## newfoundlander61 (Feb 6, 2011)

I have been using CIBC Investors Edge for 2 years for my TFSA. Have never traded a stock due to the pricing, this is a big change for them very surprising.


----------



## FrugalTrader (Oct 13, 2008)

@MOA, yes they do allow synthetic DRIP.


----------



## gibor365 (Apr 1, 2011)

FrugalTrader said:


> @MOA, yes they do allow synthetic DRIP.


After I transfered my RRSP from TDW to CIBC, I can confirm that I can DRIP all securities that I DRIPed in TDW.

I'm wondering if they still have administration fees for low $ amount account....


----------



## FrugalTrader (Oct 13, 2008)

From their website:



> General Administration Fees
> Fees charged are for the period of January 1st to December 31st, or any part thereof, payable on September 1st.
> 
> RRSP, RRIF, LIRA, LIF: $100
> ...


----------



## GoldStone (Mar 6, 2011)

dave2012 said:


> Are other brockerages doing the same in regards to not requiring a minimum?


Dave, 

All major brokers eliminated the minimums back in February. RBCDI was the first mover. TDDI and BMOIL followed.
http://www.moneysense.ca/invest/td-takes-up-the-gauntlet-from-rbc


----------



## GoldStone (Mar 6, 2011)

HaroldCrump said:


> Keep in mind that part of the reason that all the major big-bank brokers are able to keep reducing trading commissions is because they are able to derive increasing revenue from their dark pools, from opening up their order book to HFTs, and to get market taking kickbacks from various electronic exchanges for sending their orders.


You make it sound like they are doing something nefarious. As a small fish retail investor, I don't see any downside for me personally.


----------



## larry81 (Nov 22, 2010)

SheaButters said:


> Royal and TD both have 9.95 flat


You mean* 9.99$* at TD (i know because theses 4 cents hurt me every time i place a trade)


----------



## martinv (Apr 30, 2009)

Started with E'Trade in 2001 which became Scotia i'Trade. This Summer I opened an account with CIBC Investor's Edge to start a separate portfolio. I qualified for the 6.95 price so no change.
Have been pleased with the IE service and website so far.


----------



## gibor365 (Apr 1, 2011)

except 6.95 flat rate, CIBC offers


> For clients who are active traders -- those averaging 150 trades or more per quarter -- CIBC Investor’s Edge now offers a flat fee of only $4.95 per online equity trade.
> 
> This low pricing platform establishes CIBC as a price leader in online trading, making it more accessible for investors, regardless of their account balance or how frequently they trade. Whether investors trade a little or a lot, they will benefit from keeping their costs low.
> 
> ...


wondering why CIBC don't advertise that they have the best FX rates in registered accounts


----------



## newfoundlander61 (Feb 6, 2011)

Can you set up a DRIP online via the web site or does it have to be done on the phone first with a rep from Investors Edge.


----------



## FrugalTrader (Oct 13, 2008)

Phone in only, but you can just say drip all positions and they will take care of it.


----------



## gibor365 (Apr 1, 2011)

On the other hand in CIBC you can buy 3rd party GIC online , in TDW I should've to call in


----------



## christinad (Apr 30, 2013)

Do you have to have a cibc account to use investors edge?


----------



## newfoundlander61 (Feb 6, 2011)

FrugalTrader said:


> Phone in only, but you can just say drip all positions and they will take care of it.


Thanks, easy enough.


----------



## mrPPincer (Nov 21, 2011)

christinad said:


> Do you have to have a cibc account to use investors edge?


You don't need to have a CIBC bank account but you can open a no-fee CIBC chequing account and link it to your CIBC IE brokerage account for convenience.

Right now I get them to mail me any cash I want to withdraw at no cost, and can deposit at the branch, but I do have a no-fee CIBC bank account that I intend to link up, but haven't yet got around to sending in the online forms.


----------



## tombiosis (Dec 18, 2010)

mrPPincer said:


> You don't need to have a CIBC bank account but you can open a no-fee CIBC chequing account and link it to your CIBC IE brokerage account for convenience.
> 
> Right now I get them to mail me any cash I want to withdraw at no cost, and can deposit at the branch, but I do have a no-fee CIBC bank account that I intend to link up, but haven't yet got around to sending in the online forms.


I was able to lnk my PCF account to IE, but you need to download a form and send them a void cheque as well...


----------



## mrPPincer (Nov 21, 2011)

^Ah, nice!

If I recall correctly I don't think my credit union accounts were on the list of available institutions, and I think part of the reason I was planning to go with the no-fee CIBC account was that I could possibly move my money quicker, but I might rethink that.

Ideally my Hubert account would be the best one to link but it doesn't have cheques.
I'll have to look into it & see if it's possible to link that one & if there's any holds on the imported cash or anything.


----------



## mrPPincer (Nov 21, 2011)

christinad said:


> Do you have to have a cibc account to use investors edge?





tombiosis said:


> I was able to lnk my PCF account to IE, but you need to download a form and send them a void cheque as well...


Just an update here, I now have my online Hubert HISA account linked to CIBC IE.

I used the same process as Tombiosis, but instead of mailing a void cheque (savings account, no cheques) along with the form I sent a printout of a statement of Direct Deposit Information that Hubert sent to me through password protected e-mail after I requested it over the phone.


First transaction was sending a small amount of cash from my IE account to my Hubert HISA.
The cash was in my Hubert account when I checked the next morning, with a record date of the day before, so it was not sitting in limbo anywhere, effectively it was there immediately & with no holds on it when it got there.

To make a purchase with all my CIBC IE accounts, including my non-registered account, I need to have the cash in there first (in TDDI non-r I could put the exact amount of cash in later, before the trade closed),
but I'm told that as long as I've initiated the cash transfer first the back office will be able to see that, and there won't be any problems.


----------



## Sherlock (Apr 18, 2010)

If anyone figures out how to get Investor's Edge to not send me a trade confirmation letter in the mail every time I buy or sell a stock, let me know.


----------



## Toronto.gal (Jan 8, 2010)

^ I personally prefer paper confirmation of my trades [+ the monthly e-statements], but apparently the paperless option will be available in 2015.


----------



## Sherlock (Apr 18, 2010)

That's good to know, all those letters are annoying.

I called them and apparently you can opt out of some of the mail, but not all of it. Trade confirmations are one of the things you can't opt out of.


----------



## gibor365 (Apr 1, 2011)

Sherlock said:


> That's good to know, all those letters are annoying.
> 
> I called them and apparently you can opt out of some of the mail, but not all of it. Trade confirmations are one of the things you can't opt out of.


Agreed! Especially annoying letter regarding buying/selling ATL5000.... CIBC just wasting $$$ on those confirms....


----------



## silencer (Oct 4, 2014)

Does anyone know if CIBC does a hard credit check on you if you open a TFSA account?


----------



## silencer (Oct 4, 2014)

silencer said:


> Does anyone know if CIBC does a hard credit check on you if you open a TFSA account?


To answer my own question, no credit check to open a TFSA.


----------



## Flash (Nov 25, 2014)

mrPPincer said:


> Ideally my Hubert account would be the best one to link but it doesn't have cheques.
> I'll have to look into it & see if it's possible to link that one & if there's any holds on the imported cash or anything.


Isn't all 5 bank brokerages have the settlement account like a normal chequing account? (I know BMO does).

So all you do, is go into Hubert and add the institution number, transit number and the settlement account number in CAD. Then you can get it linked.


----------



## mrPPincer (Nov 21, 2011)

Flash said:


> Isn't all 5 bank brokerages have the settlement account like a normal chequing account? (I know BMO does).
> 
> So all you do, is go into Hubert and add the institution number, transit number and the settlement account number in CAD. Then you can get it linked.


I linked it from CIBC IE's end, that way if I want to make a purchase, I log into my brokerage account, go to 'cash transfers', & pull in however much I need, and I can buy right then and there; they will see that the transfer has been initiated.

Faster than trying to push money from Hubert.

PS - also, with bank accounts, if you pull money into a bank acct. it is held for a number of days, but if it is pushed in, in my experience it is always available as soon as it is there, (so when I push money from CIBC IE to Hubert, there is no hold).


----------



## Flash (Nov 25, 2014)

mrPPincer said:


> I linked it from CIBC IE's end, that way if I want to make a purchase, I log into my brokerage account, go to 'cash transfers', & pull in however much I need, and I can buy right then and there; they will see that the transfer has been initiated.
> 
> Faster than trying to push money from Hubert.
> 
> PS - also, with bank accounts, if you pull money into a bank acct. it is held for a number of days, but if it is pushed in, in my experience it is always available as soon as it is there, (so when I push money from CIBC IE to Hubert, there is no hold).


How did you linked hubert from CIBC since hubert does not have cheques? 

I assume CIBC and other banks are similar, as with BMO, once you buy a stock, you have 3 days for it to settle (brokers such as questrade do not, so unless you have full funds inside the brokerage account, they will charge you interest the same day you buy, which sucks). My account will be negative for the 2-3 days until the transfer is complete (initiated from hubert), but since it doesn't settle for 3 days, I can buy right then and there as well

I much prefer to link accounts, rather than the clumsy way questrade is doing it, by having to "pay bill" and "withdrawl" from questrade.


----------



## mrPPincer (Nov 21, 2011)

You can phone Hubert and request a statement of the direct deposit information which you can mail in, in lieu of a void cheque.

Check the CIBC IE site first to see what is required, and Hubert can e-mail it to you (the e-mail was password protected if I recall correctly), then print it out and mail it in along with the form.


----------



## mrPPincer (Nov 21, 2011)

Flash said:


> I assume CIBC and other banks are similar, as with BMO, once you buy a stock, you have 3 days for it to settle (brokers such as questrade do not, so unless you have full funds inside the brokerage account, they will charge you interest the same day you buy, which sucks). My account will be negative for the 2-3 days until the transfer is complete (initiated from hubert), but since it doesn't settle for 3 days, I can buy right then and there as well


With TDDI I can buy in my non-registered (but not in registered), without the money being there right away, and deposit a cheque in the branch before it settles, but I couldn't link an external account.

With CIBC IE before I had anything linked I tried to deposit cash at the branch but they put a hold on it so I couldn't buy right away, but after my external bank account was linked, as soon as I initiate a transfer online, it's as though the money is there, so in that way it's more convenient.


----------

