MONTREAL, Feb. 19, 2014 /CNW Telbec/ - National Bank Direct Brokerage is proud to announce a new fixed commission of $9.95 for all equity and exchange-traded fund transactions carried out via its electronic services.
The new price is applicable to all investors, regardless of the value of their account or how frequently they trade. In addition, no minimum account balance or transaction volume is required.
"The new fee structure makes online brokerage even more accessible and attractive," explained Nancy Paquet, President of National Bank Direct Brokerage. "We believe that more and more Canadians will use this type of investing platform in the future, either making their first foray into self-directed investing or increasing the share of their portfolio dedicated to it. We want to make it easier for all types of investors to access the markets, whether they are active investors or just starting out, and whatever the size of their portfolio."
Combined with the numerous decision-making tools offered on its website, the excellence of its customer service and the recently launched Do-It-Yourself Investors Zone in the National Bank Tower at 600 De La Gauchetière West in Montreal, the new pricing approach will help NBDB make online brokerage accessible to all.
National Bank Direct Brokerage continues to offer its pricing for active investors of only $6.95 per trade for clients who place at least 30 equity, ETF or option trades per quarter.
Since December 1, 2013, NBDB has been offering one of the most competitive fee structures in the Canadian direct brokerage industry. Annual administrative fees and exemptions are now calculated on all accounts held by a client1, rather than on each individual account. Therefore, NBDB clients will not be charged the $100 administrative fee if their personal assets exceed $20,000 on May 31, 2014 or if they trade equities, exchange traded funds (ETF) or options at least five times between June 1, 2013 and May 31, 2014.
National Bank Direct Brokerage received the highest numerical score among discount brokerage firms in the proprietary J.D. Power 2013 Canadian Discount Brokerage Investor Satisfaction StudySM). The study evaluated 11 firms and was based on 3,089 responses. Proprietary study results are based on experiences and perceptions of consumers surveyed in May and June 2013. Your experience may vary. Visit jdpower.com.
About National Bank of Canada
With $188 billion in assets as at October 31, 2013, National Bank of Canada (www.nbc.ca) together with its subsidiaries, forms one of Canada's leading integrated financial groups, and has been named among the 20 strongest banks in the world by Bloomberg Markets magazine. The Bank has close to 20,000 employees and is widely recognized as a top employer. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities via social media and learn more about its extensive community involvement at clearfacts.ca and commitment.nationalbank.ca.
About National Bank Direct Brokerage
National Bank Direct Brokerage is a trademark of National Bank Direct Brokerage, a wholly owned subsidiary of National Bank of Canada. National Bank Direct Brokerage offers no advice and makes no investment recommendations. The client alone is responsible for the financial and tax consequences of his or her investment decisions. National Bank Direct Brokerage is a member of the Canadian Investor Protection Fund.
1 The accounts must have the same root, i.e., the first six digits of the account number must be identical.
SOURCE: National Bank of Canada
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