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Fees

A competitive fee structure

Opt for pricing that's tailored to your needs

Whether you're trading stocks, options, ETFs or mutual funds, NBDB's pricing is transparent, easy to understand and tailored to each client's specific needs.

Commissions

Take advantage of our competitive commissions on ETFs, equities and options.

See our commission schedule

Annual administration fee

See if you qualify for fee exemptions.

See the exemptions

Commissions

ETFs

All Canadian and U.S. ETFs
$0 commission1,2

Equities

Basic pricing
(less than 30 trades per quarter3)
Active Investor pricing
(30 trades or more per quarter3)

$9.95 per trade

$6.95 per trade

Options

All Canadian and U.S. options
$9.95 + $1.25 per contract (represents 100 underlying shares)4

 

   
See our commission schedule
Illustration

Annual administration fee

We'll waive the $100 annual fee5 if:

  • You hold personal assets totalling at least $20,000 as of May 31
  • You carried out at least 5 commission-generating stock, ETF or option trades between June 1 and May 31*
  • You have an InvestCube account
  • You're enrolled in one of our offers for professionals

*The year runs from June 1 to May 31.

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Illustration
Illustration
See our general fees

Interest rate

At NBDB, you have the option of buying securities on margin. That means you can borrow money to increase your purchasing power.

There are a number of benefits. You can take advantage of market opportunities: the famous leverage effect, while enjoying a competitive interest rate on the funds you borrow.

Interest rates for margin accounts

Debit balance

CAD

USD

$0–$9,999

5.35%

      6.50%

$10,000–$99,999

5.25%

      6.50%

$100,000 or more

4.25%

      6.25%

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

5.35%

6.50%

21.00%

21.00%

$10,000–$99,999

5.25%

6.50%

21.00%

21.00%

$100,000 or more

4.25%

6.25%

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%

0.50%

0.00%

0.50%

0.00%

    $25,000–$99,999

0.00%

0.75%

0.00%

0.75%

0.00%

    $100,000 or more

0.00%

1.00%

0.00%

1.00%

0.00%

 

The interest rates paid on a credit balance or charged to a debit balance may change without notice.

The interest paid or billed to your account is calculated on the monthly average of the credit and debit balance in your account, from the 16th day of the previous month to the 15th day of the current month, including that day.

Interest on regular and registered accounts will only be credited or debited if it reaches $5.00, however on margin accounts, it will be credited or debited as of $0.01.

Pricing for tools

It pays to be an active investor with NBDB:

  • Benefit from Market-Q for free when you carry out 10 or more trades per month.*
  • With 15 or more trades per month* you get free access to one of the three Decision-Plus tools.*

*On commission-generating stock, option and ETF trades.

Market Q

See Market-Q pricing

 

0 - 9

10 - 39

40 - 99

100 +

Market-Q ─ Level I quotes

$39

Free

Free

Free

Market-Q ─ Level II quotes

$99

$60

Free

Free

Market-Q ─ Level I with TSXV

$64

$25

$25

Free

Market-Q ─ Level II with TSX-V

$148

$109

$49

Free

 

Market-Q ─ Level I quotes

0 - 9

$39

10 - 39

Free

40 - 99

Free

100 +

Free

 

Market-Q ─ Level II quotes

0 - 9

$99

10 - 39

$60

40 - 99

Free

100 +

Free

 

Market-Q ─ Level I with TSXV

0 - 9

$64

10 - 39

$25

40 - 99

$25

100 +

Free

 

Market-Q ─ Level II with TSX-V

0 - 9

$148

10 - 39

$109

40 - 99

$49

100 +

Free

See Decision-Plus pricing

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

 

MarketGurus.tv

0 - 14

$75

15 - 29

$25

30 - 49

Free

50 +

Free

 

MarketVisionPlus

0 - 14

$50

15 - 29

Free

30 - 49

Free

50 +

Free

 

TraderPlus

0 - 14

$65

15 - 29

Free

30 - 49

Free

50 +

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

 

MarketGurus.tv and MarketVisionPlus

0 - 14

$125

15 - 29

$75

30 - 49

$25

50 +

Free

 

MarketGurus.tv and TraderPlus

0 - 14

$140

15 - 29

$65

30 - 49

$25

50 +

Free

 

MarketVisionPlus and TraderPlus

0 - 14

$115

15 - 29

$50

30 - 49

Free

50 +

Free

 

 

Option C (all three tools)

 

0 - 14

15 - 29

30 - 49

50 +

MarketGurus.tv
MarketVisionPlus
TraderPlus

$190

$120

$60

Free

MarketGurus.tv
MarketVisionPlus
TraderPlus

0 - 14

$190

15 - 29

$120

30 - 49

$60

50 +

Free

Icône astuce

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.

The fine print

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.

Further details about commissions on exchange-traded funds

1. Commission-free trades have been offered for Canadian exchange-traded funds (ETFs) since September 1, 2016, and for U.S. ETFs since August 31, 2017. Trades must involve 100 or more units of exchange-traded funds and must be carried out using our online trading platform. Clients must also sign up to receive all their documents electronically.

Commission-free ETF trades are not counted when calculating:

  • Free access to trading platforms
  • Active Investor pricing
  • Annual administrative fees

Management and other fees may apply to ETF investments. Please read the prospectus before making an investment. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.

2. Regular pricing applies if the conditions for commission-free ETF trades are not fulfilled.

3. The pricing applies to Canadian and U.S. shares.

4. 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.

5. 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.

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.

Taxes on tools

6. To subscribe to these products, contact one of our representatives.

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.

The number of transactions required to waive fees is calculated per username.

Fees charged in US dollar accounts will be converted at the current exchange rate.

Market-Q cannot be combined with MarketVisionPlus or TraderPlus.

Need help?

Speak with an agent to learn more.

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