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)

HIGHLIGHTS

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.

Brokerage Breakdown

ACCOUNT TYPES OFFERED

Registered Accounts

✓ TFSA
- US Dollar Account Available?
  
  ✓
- US Dollar Fee
  
  No fee
✓ RRSP
- US Dollar Account Available?
  
  ✓
- US Dollar Fee
  
  No fee
✓ RESP
- US Dollar Account Available?
  
  X

Non-Registered Accounts

✓ Cash
- US Dollar Account Available?
  
  ✓
- US Dollar Fee
  
  No fee
✓ Margin
- US Dollar Account Available?
  
  ✓
- US Dollar Fee
  
  No fee

ACCOUNT FEES & REQUIREMENTS

Registered Accounts

✓ TFSA
- Minimum Opening Balance
  
  $0
- Minimum Balance Required
  
  $0
- Annual Charge
  
  $100
- Transfer Out
  
  $150
- Withdrawals
  
  $0
- US Dollar Account
  
  0
- Fee Waiver Condition
  
  $100 annual fee divided between all active accounts. Fee is waived if accounts have total assets at least $20,000 or have at least 5 trades in the prior year; or students in some fields of study.
✓ RRSP
- Minimum Opening Balance
  
  $0.00
- Minimum Balance Required
  
  $0.00
- Annual Charge
  
  $100.00
- Transfer Out
  
  $150
- Withdrawals
  
  $50
- US Dollar Account
  
  0
- Fee Waiver Condition
  
  $100 annual fee divided between all active accounts. Fee is waived if accounts have total assets at least $20,000 or have at least 5 trades in the prior year; or students in some fields of study.
✓ RESP
- Minimum Opening Balance
  
  $0.00
- Minimum Balance Required
  
  $0.00
- Annual Charge
  
  $100.00
- Transfer Out
  
  $150
- Fee Waiver Condition
  
  $100 annual fee divided between all active accounts. Fee is waived if accounts have total assets at least $20,000 or have at least 5 trades in the prior year; or students in some fields of study.

Non-Registered Accounts

✓ Cash
- Minimum Opening Balance
  
  $0.00
- Minimum Balance Required
  
  $0.00
- Annual Charge
  
  $100.00
- Transfer Out
  
  $150
- US Dollar Account
  
  $0.00
- Fee Waiver Condition
  
  $100 annual fee divided between all active accounts. Fee is waived if accounts have total assets at least $20,000 or have at least 5 trades in the prior year; or students in some fields of study.
✓ Margin
- Minimum Opening Balance
  
  $0.00
- Minimum Balance Required
  
  $0.00
- Annual Charge
  
  $100.00
- Transfer Out
  
  $150
- US Dollar Account
  
  $0.00
- Fee Waiver Condition
  
  $100 annual fee divided between all active accounts. Fee is waived if accounts have total assets at least $20,000 or have at least 5 trades in the prior year; or students in some fields of study.
✓ Inactivity Fees
- Inactivity or Maintenance Fees
  
  $100/year
✓ Fee Waiver Conditions
- $100 annual fee divided between all active accounts. Fee is waived if accounts have total assets at least $20,000 or have at least 5 trades in the prior year; or students in some fields of study.

TRADING COMMISSIONS & FEES

Equity
- Minimum commission per trade
  
  No fee
- Maximum commission per trade
  
  $0.00
- Standard commission per trade
  
  $0
- Best commission per trade
  
  $0
ETF
- Commission-free ETF Trading Available?
  
  ✓
Options
- Standard Base option commission fee
  
  No fee
- Standard per contract commission
  
  $1.25
- Assignment and Exercise Commission
  
  Assignment: $28.95 Exercise: charged at representative rate ($44.95 min)

ONLINE BROKERAGE RANKINGS

Sorry, no data is available.

CONTACT

Website

https://nbdb.ca/

[email protected]

Phone

1-800-363-3511

Customer Service Hours

Mon-Fri: 8am-6pm (ET)

Mailing Address

1100 Robert-Bourassa Blvd, 7th Floor Montréal, Québec H3B 2G7

INDEX

ONLINE BROKERAGE REVIEW

National Bank Direct Brokerage Review 2021

Quick Info

HIGHLIGHTS

Brokerage Breakdown

ACCOUNT TYPES OFFERED

Lorem Ipsum Dolorf

$0

Registered Accounts

✓ TFSA

US Dollar Account Available?

✓

US Dollar Fee

No fee

✓ RRSP

US Dollar Account Available?

✓

US Dollar Fee

No fee

✓ RESP

US Dollar Account Available?

X

Non-Registered Accounts

✓ Cash

US Dollar Account Available?

✓

US Dollar Fee

No fee

✓ Margin

US Dollar Account Available?

✓

US Dollar Fee

No fee

ACCOUNT FEES & REQUIREMENTS

Lorem Ipsum Dolorf

$0

Registered Accounts

✓ TFSA

Minimum Opening Balance

$0

Minimum Balance Required

$0

Annual Charge

$100

Transfer Out

$150

Withdrawals

$0

US Dollar Account

0

Fee Waiver Condition

$100 annual fee divided between all active accounts. Fee is waived if accounts have total assets at least $20,000 or have at least 5 trades in the prior year; or students in some fields of study.

✓ RRSP

Minimum Opening Balance

$0.00

Minimum Balance Required

$0.00

Annual Charge

$100.00

Transfer Out

$150

Withdrawals

$50

US Dollar Account

0

Fee Waiver Condition

$100 annual fee divided between all active accounts. Fee is waived if accounts have total assets at least $20,000 or have at least 5 trades in the prior year; or students in some fields of study.

✓ RESP

Minimum Opening Balance

$0.00

Minimum Balance Required

$0.00

Annual Charge

$100.00

Transfer Out

$150

Fee Waiver Condition

$100 annual fee divided between all active accounts. Fee is waived if accounts have total assets at least $20,000 or have at least 5 trades in the prior year; or students in some fields of study.

Non-Registered Accounts