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ONLINE BROKERAGE REVIEW

Scotia iTRADE Review 2022

Updated October 13, 2021

Quick Info

  • Standard Equity Commission
    $9.99
  • Best Commission Price
    $4.99
  • Minimum to Open Account
    Not Required
  • Maintenance/Inactivity Fees
    $25/Quarter
  • Commission-free ETF Trading
    Yes
  • Young Investor Offer
    Yes (Age: 18 - 26)

HIGHLIGHTS

1.9/5 (4)

Scotia iTrade, a subsidiary of Scotia Capital, is a bank-owned online brokerage that is active in providing investor education as well as trading platforms geared towards advanced or active traders. In addition, they are one of the only bank-owned online brokerages to offer commission-free ETF trading. Scotia iTrade has also lowered their standard commission pricing to be more in line with other Canadian online brokerages.

Scotia iTRADE Full Review

What Account Types does Scotia iTRADE offer?

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    Registered Accounts

    Non-Registered Accounts

Account Fees & Requirements for Scotia iTRADE

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    Registered Accounts

    Non-Registered Accounts

Trading Commissions & Fees provided by Scotia iTRADE

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Scotia iTRADE Rankings & Reviews for 2022

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  • Sorry, no data is available.

How can I contact Scotia iTRADE customer support?

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What do people think of Scotia iTRADE?

BigTechEqualsValue
wallstreetbets
8/30/2022
Scotia ITrade
nicolas brenot
NCGMB
8/29/2022
@tweettypi @scotiabank @nationalbank @ScotiabankHelps Same here, Scotia itrade still has not reflected the TSLA split…unbelievable
BigTechEqualsValue
wallstreetbets
8/29/2022
Why can't I trade SPX or SPXW on Scotia ITrade? the ticker doesnt exist or what?
UN-Hinged-Ninja
BBBY
8/28/2022
How do you do this on Scotia iTrade... ? any help appreciated .
Steeltown-Shady
canada
8/28/2022
Several of Canada’s largest banks have blocked their financial advisers from offering clients certain high-interest cash funds during a period in which investors are flocking to safer investments amid shaky stock and bond markets, a restriction regulators may examine in a continuing review of industry sales practices. Advisers at several major banks are not able to buy their clients high-interest-savings ETFs, also known as cash ETFs or HISA ETFs. These products mainly invest in pools of banks’ high-interest savings accounts and deposits. Instead, the banks’ investment arms are prompting their advisers to offer the banks’ own proprietary savings accounts directly to clients. Royal Bank of Canada RY-T, Bank of Montreal BMO-T, Toronto-Dominion Bank TD-T and Bank of Nova Scotia BNS-T all block their advisers from buying the HISA ETFs, placing them on “restricted lists” usually reserved for risky, volatile investments. It’s another stumbling block for independent fund companies in Canada that manage and sell the cash funds. Do-it-yourself investors who use discount brokerage trading platforms at RBC, BMO and TD are also blocked from purchasing HISA ETFs. Canadian Imperial Bank of Commerce CM-T and National Bank of Canada NA-T provide access to cash ETFs at their discount brokerages and their investment-adviser brokerages, CIBC Wood Gundy and National Bank Financial. Scotia iTrade allows do-it-yourself investors to access cash ETFs but does not allow investment advisers at Scotia McLeod to purchase cash ETFs for clients. Some of the banks who block sales of the cash ETFs told The Globe and Mail they believe they offer a satisfactory suite of cash products to their clients, making the HISA ETFs unnecessary. However, Canadians who use independent discount brokerages or other sellers of cash ETFs flocked to the product as interest rates began to rise earlier this year. Investors injected more than $1.6-billion into those ETFs in the first half of the year. In Canada, there are currently six HISA ETFs with almost $9-billion in total assets under management as of July 30, according to data from National Bank Financial. The draw for many investors is how quickly the yields on the products jump as interest rates rise. The yields of HISA ETFs averaged 1.45 per cent in May and have doubled to about 3 per cent. Traditional high-interest CDIC-insured savings accounts currently pay 2 per cent to 2.3 per cent.

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