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Sunday, February 25, 2024
2014 - Canadian Online Discount Brokerage Review

BMO InvestorLine is once again the leader in Canadian online discount brokerage services in Canada as determined in the 14th edition of the Surviscor Online Discount Brokerage scorCard. Past multiple period winner Scotia iTRADE finished in 2nd place with Credential Direct advancing into the third spot. The Surviscor Canadian Online Discount Brokerage review focuses on the relatively 'free' segments of business for the every day Canadian Investor.

The firms' percentage score is based on the availability of its offerings as compared to the number one peers in each category. The main criteria was expanded by 18% to over 4000 usage-based criteria questions with an expanded commission model that analyses over 12,600 individual trades.

In order to see more details on the individual firms, simply click on the company name. If you would like to produce your OWN scorecard, using your OWN weightings, visit the home page and click on the new scorCHOICE tool.


1BMO InvestorLine90%
2Scotia iTRADE84%
3Credential Direct77%
4Qtrade Investor76%
5RBC Direct Investing74%
7CIBC Investor's Edge72%
8TD Direct Investing70%
9Desjardins Online Brokerage67%
10National Bank Direct Brokerage66%
11Virtual Brokers64%
12HSBC InvestDirect44%
13Laurentian Bank Direct Brokerage30%

The Discount Brokerage scorCard continues to expand and is the most comprehensive online brokerage analysis in North America. The scorCard reviews over 4000 features and functionality criteria questions which make up 33 sub-categories and 7 main categories.


The Criteria:
Surviscor reviews all Canadian discount brokerage firms including bank-owned and independent firms. Traditional day trading firms are included providing they meet the minimum requirements for inclusion. The Firms are evaluated for the online features and functionality offered.

The minimum requirements are:

  1. Transactional capabilities in Canadian and US markets
  2. Physical location in Canada with minimum registration requirement of 2 provinces
  3. Ability to establish a registered account
  4. Minimum account opening balance requirement no greater than $10,000 CDN

The Main Categories:
1.Getting Started
2.Website Usability
3.Account Services
4.Market Intelligence
5.Website Transactions
6.Online Resources
7.Cost of Services

Next Analysis: 2015 Canadian Investor - October/November 2015

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