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Commissions | Annual administration fee | Interest rates | Pricing for tools | Currency Conversion
National Bank Direct Brokerage is the first broker of a Canadian bank† to offer 100% of Canadian and U.S. stocks, options and ETFs at $0. You're not dreaming: no commissions on your trades. Our fees are also clearly explained so you fully understand what you’re paying for. Have you been thinking about investing on your own? Now is the time to get started.
You are an engineer, healthcare or business professional or you are a newcomer in Canada?
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At NBDB, you have the option of buying securities on margin. With a margin account, you can borrow against the loan value attributed to the securities you hold to invest even more.
There are a number of benefits:
See our interest rates for margin accounts, cash accounts and registered accounts
Debit balance (borrowed funds)
|
Margin account CAD |
Margin account USD |
Cash account CAD/USD |
Registered account CAD/USD |
$0–$9,999 |
7.25% |
9.25% |
21.00% |
21.00% |
$10,000–$99,999 |
7.25% |
9.25% |
21.00% |
21.00% |
$100,000 or more |
7.25% |
9.25% |
21.00% |
21.00% |
Credit balance (uninvested funds)
|
Margin account |
Cash Account |
Registered account |
||
|
CAD |
USD |
CAD |
USD |
CAD/USD |
$0–$24,999 |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
$25,000–$99,999 |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
$100,000 or more |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
The interest rates paid on a credit balance or charged for a debit balance may change without notice.
The interest paid or billed is calculated on the daily balance of the credit or debit balance in your account, from the 16th day of the previous month to the 15th day of the current month, including that day.
For cash and registered accounts, the interest will only be credited or debited if the amount reaches $5.00. For margin accounts, however, it will be credited or debited starting at $0.01.
NBDB offers the majority of its accounts in Canadian and American currencies. A currency conversion is required when, for instance, a transaction involves a security denominated in a currency other than that of the account in which the operation is settled, a transfer of funds is made between accounts denominated in different currencies, or an amount (such as dividends, interest or a deposit) in a currency is paid in an account denominated in another currency.
The exchange rate applicable to the operation varies according to a number of factors, including market fluctuations, the amount, date and nature of the operation, and includes a spread8. The spread NBDB applies to the operation also varies according to the amount of the operation, as indicated in the table below.9
Operation Amount (USD) |
Spread (BPS) |
Spread (%)10 |
---|---|---|
$0 – $24 999 |
230 |
1.80% |
$25 000 – $249 999 |
160 |
1.20% |
$250 000 – $499 999 |
125 |
1.00% |
$500 000 - $999 999 |
100 |
0.80% |
$1 000 000 or more |
75 |
0.60% |
*To be eligible for product activation and to maintain the subscription, a minimum of $1 000 in assets under the same account root is required.6
See Decision-Plus pricing
Pricing for current subscribers only. To subscribe to the Decision-Plus tools, visit the provider's external website by clicking here.
Option A (choice of one tool)
|
0 - 14 |
15 - 29 |
30 - 49 |
50 + |
---|---|---|---|---|
MarketGurus.tv |
$75 |
$25 |
Free |
Free |
MarketVisionPlus |
$50 |
Free |
Free |
Free |
TraderPlus |
$65 |
Free |
Free |
Free |
Option B (choice of two tools)
|
0 - 14 |
15 - 29 |
30 - 49 |
50 + |
---|---|---|---|---|
MarketGurus.tv and MarketVisionPlus |
$125 |
$75 |
$25 |
Free |
MarketGurus.tv and TraderPlus |
$140 |
$65 |
$25 |
Free |
MarketVisionPlus and TraderPlus |
$115 |
$50 |
Free |
Free |
Option C (all three tools)
|
0 - 14 |
15 - 29 |
30 - 49 |
50 + |
---|---|---|---|---|
MarketGurus.tv |
$190 |
$120 |
$60 |
Free |
Did you know?
You can earn À la carte rewards points with your National Bank Mastercard and use them to contribute to your TFSA, RRSP, or a spousal RRSP.
*Options commission is $0 + $1.25/contract. A minimum fee of $6.25/trade applies. The maximum fee is $19.95 when the transaction value is less than $2,000. An option contract gives the holder the right, but not the obligation, to buy or sell a given position in an underlying security at a given exercise price. Contracts are for 100 shares.
†National Bank Direct Brokerage, as a division of a Canadian bank subsidiary, is the first broker in Canada to offer a commission-free online brokerage solution for Canadian and U.S. stocks.
1. Trades must have been made through our electronic solutions.
2. Please read the prospectus before making an investment. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.
Commission and General Fee Schedule (brochure)
The commissions shown are for trades carried out online. For more information about commissions and general fees, please refer to our brochure.
3. Eligible assets include cash, stocks, options, exchange-traded funds, debentures, bonds and NBI Altamira CashPerformer Accounts.
4. You must be aged 30 years or younger on May 31 of each year to be eligible for the annual administration fee waiver.
5. These fees are applicable to any account root opened before December 1st of the previous year. If there is a difference between the period indicated in the commission and general fee Schedule and the period published on our website, the latter will apply. An account root refers to all the accounts held by a client whose first six digits are identical. A client may have several account roots. Annual administration fees and exemptions are calculated on all accounts held by a client under the same account root, rather than on each individual account. If none of the criteria are satisfied, the $100 fee will be divided between all of the client's accounts. For example, a client with an RRSP account and a TFSA account will be charged $50 for each account.
6. To subscribe to these products, contact one of our representatives by phone before the 15th of the month.
To unsuscribe from these products, contact us via the Message Center or by phone before the 25th of the month.
The prices shown do not include taxes.
Fees for the tools are debited from your brokerage account at the beginning of the month following the month in which you used them.
Fees charged in US dollar accounts will not be converted into Canadian dollars. You’ll pay the same fees, but in US dollars.
You can’t combine Market-Q with MarketVisionPlus or TraderPlus.
7. We do not accept new subscribers to the Decision-Plus tools. To subscribe to these products, visit decisionplus.com.
To unsubscribe from these products, contact us via the Message Center or by phone before the 25th of the month.
The prices shown do not include taxes.
Fees for the tools are debited from your brokerage account at the beginning of the month following the month in which you used them.
Fees charged in US dollar accounts will not be converted into Canadian dollars. You’ll pay the same fees, but in US dollars.
Further details about general commissions
Note: Commissions are billed in the same currency as the transaction.
Each partial execution of a transaction is subject to the full commission, unless the transaction is executed in its entirety on the same business day. Full commission is charged for each separate transaction performed on the same security. Additional fees may be charged by the local securities exchange commission and/or by the stock market and are billed in the same currency as the transaction.
When a transaction is placed through one of our services (e.g., a representative), and then modified via another service (e.g., the website), the commission will be based on the higher of the two commission schedules. Option exercises are subject to the same commission schedule as share transactions made through a representative. A currency conversion is required for any trade involving a security in a currency other than that of the account in which the trade is settled. When carrying out this conversion, National Bank Direct Brokerage acts as principal and can earn, in addition to the commission applicable to the transaction, revenue based on the spread between the bid and ask rates. Borrowing securities for short selling may result in additional fees. These fees vary based on the markets and without prior notice. Contact one of our representatives for more information about these fees.
8. The exchange rate applicable to the operation is established by NBDB or persons related to it. Each time a currency conversion is required, NBCD acts as principal in converting the currency and is remunerated on the basis of the difference between the price you pay for the currency and the price obtained by NBDB or persons related to it for that same currency.
9. Spread is subject to change without notice.
10. Calculated for demonstration purposes only and rounded to the nearest tenth. We use basis points for foreign currency exchange conversions. The figures shown are based on the trailing 12 month USD/CAD Bank of Canada Daily exchange rate [opens to external site] (as of Feb 1st, 2024).