Almost two-thirds of self-directed investors surveyed by CIBC say they would trade more with lower trading fees
TORONTO, Oct. 6, 2014 /CNW/ - CIBC (TSX: CM) (NYSE: CM) is introducing, effective today, a flat-rate commission of only $6.95 per equity trade through CIBC Investor's Edge online and mobile channels. This new rate is among the lowest and most competitive in Canada, and applies regardless of the size of investors' trading accounts or trading activity.
"CIBC is responding to the needs of Canadians by making online trading more accessible, regardless of their account balance or trading frequency," says Marybeth Jordan, Managing Director and Head, CIBC Investor's Edge. "The findings from our recent poll tell us that trading costs are a key consideration for self-directed investors. Whether investors trade a little or a lot, they will benefit from keeping their trading costs low."
A new CIBC poll finds that almost two-thirds (63 per cent) of self-directed investors say they would trade more if commission fees were lower.
For clients who are active traders - those averaging 150 trades or more per quarter - CIBC Investor's Edge now offers a flat-rate commission of just $4.95 per equity trade.
"With our new low commissions, investors can focus on managing their investments so they can reach their financial goals rather than worry about high fees impacting their returns," says Ms. Jordan.
At CIBC Investor's Edge, pricing is not the only advantage. Other recent enhancements include:
- New technical analysis tools and daily market report
- No administration fees on Registered Education Savings Plans (RESPs)
- In-depth Exchange Traded Fund (ETF) information through a dedicated ETF Centre
- Trading on the go with the CIBC Mobile Brokerage App
Clients who open a CIBC Investor's Edge account before February 28, 2015 will also get up to $300 cash back and 100 free equity trades.1
1Conditions apply. Ask in branch, call 1 800 567-3343 or visit cibc.com/695forAll for complete details. CIBC Investor's Edge is a division of CIBC Investor Services Inc. and a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada.
From September 19 to September 22, 2014, an online survey was conducted among 1,503 randomly selected Canadian adults who are decision makers for their discount brokerage or direct investing accounts and who also are Angus Reid Forum panelists. The margin of error—which measures sampling variability—is +/- 2.5%, 19 times out of 20. The results have been statistically weighted according to region and gender. Discrepancies in or between totals are due to rounding.
About CIBC Investor's Edge
CIBC Investor's Edge provides its clients with exceptional service, support and value. Clients benefit from online and telephone access to their accounts, and can trade on-the-go with the CIBC Mobile Brokerage App. CIBC Investor's Edge offers clients a wide range of accounts and investments, including stocks, ETFs, fixed income instruments, options, GICs and over 2,000 mutual funds, as well as online planning tools, and robust research and education resources.
CIBC is a leading Canadian-based global financial institution with nearly 11 million personal banking and business clients. Through our three major business units - Retail and Business Banking, Wealth Management and Wholesale Banking - CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada with offices in the United States and around the world. You can find other news releases and information about CIBC in our Media Centre on our corporate website at www.cibc.com.
SOURCE: Canadian Imperial Bank of Commerce
For further information:
Media contact: Caroline Van Hasselt, Director, External Communications and Media Relations, at 416-784-6699 or e-mail: [email protected].