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I'm wondering if there are any big banks that office trades less than $9.99? I'm about to open a TFSA for my wife, an RRSP for my wife (these are in her name, not spousal), and 2 unregistered in trust accounts. This is in addition to my current 3 trading accounts (RRSP, TFSA and unregistered). Total value will be around $200k.

Currently at TD and Questrade. Portfolios will be a mix of index ETFs and dividend stocks, so I do want to keep my costs down, however, TD eFunds may be suitable for the kids..

Anyways, more of a curiosity before I start opening up more accounts at TD and Questrade.
 

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I pay $4.95 per trade at CIBC Investor Services but they told me that it was because of the size of my family's overall portfolios with them that are quite a bit larger than $200K. If you have enough invested, you could try negotiating with them or threatening to move your account but this likely wouldn't work for a $200K portfolio.

That said, I imagine that there is a discount brokerage out there somewhere where you might be able to negotiate $4.95 trades. If one one give it to you, keep trying.

The squeaky wheel always ends up getting the grease.
 

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I pay $4.95 per trade at CIBC Investor Services but they told me that it was because of the size of my family's overall portfolios with them that are quite a bit larger than $200K. If you have enough invested, you could try negotiating with them or threatening to move your account but this likely wouldn't work for a $200K portfolio.

That said, I imagine that there is a discount brokerage out there somewhere where you might be able to negotiate $4.95 trades. If one one give it to you, keep trying.

The squeaky wheel always ends up getting the grease.
It's always worth asking.

As for $4.95 trades - Questrade has them without negotiations. That's why I'm there.
 

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I've also heard that CIBC is negotiable if you threaten to leave. Right now, they have the $395 pay in advance fee for 50 trades, then $6.95 after, but that's only valid for one account. If you have multiple accounts, you'd have to pay that fee all over again.
 

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That charging separately for each account is a ripoff!! I complained loudly about that and ended up getting the lower trading fee with no strings attached.

It didn't hurt when I told them that I did most of my banking at a different bank and threatened to close my accounts at CIBC.

As I said before, the squeaky wheel always ends up getting the grease!!
 

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I'm with CIBC and they would not bundle accounts for me.
I guess I'm a small investor unlike Belguy, maybe I should work for Bell or is that Bel. :D The great thing about CIBC is that they consolidate daily trades, that can save you a lot on fee's if you trade often.
 

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I am always surprised how investors seem to over emphasize their trading costs. Unless you are a frequent trader, trading commissions should be a relatively minor consideration. More important to me is quality of service/record keeping and integration with my cash accounts at my bank.
 

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I am always surprised how investors seem to over emphasize their trading costs. Unless you are a frequent trader, trading commissions should be a relatively minor consideration. More important to me is quality of service/record keeping and integration with my cash accounts at my bank.
+1

But it also depends on what kind of portfolio you are holding. Personally I'm below 0.5% over 3 years. So pretty low and not worth moving away from my current banks which I've been very satisfied with.
 

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Belguy, do you get the lower fee for all your accounts now?
I do, though not as low as Belguy.:mad:

I pay $6.95 per trade under any of my investment accounts (do not require to pay the $395 yearly fee) and this fee also applies to any family member residing in the same household.

I heard that CIBC will introduce lower fees in 2011!

Happy Thanksgiving weekend everyone!
 

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Yes, I get the $4.95 trading fee on all of my accounts now but maybe not for much longer if I keep advertising the fact that I do!!:(
 
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