On December 1, National Bank Direct Brokerage (NBDB) adjusted its fee structure to make it among the most competitive in the Canadian direct brokerage industry. The new general fee schedule caps annual administrative fees and saves clients money.
Annual administrative fees and exemptions are now calculated on all accounts held by a client, rather than on each individual account.
If an NBDB client’s personal assets exceed $20,000 on May 31, 2014 or the client trades equities, exchange traded funds (ETF) or options at least five times between June 1, 2013 and May 31, 2014, the $100 administrative fee will be waived.
For clients whose total assets are less than $20,000, administrative fees will be charged and divided among the client’s accounts. For example, if a client has an RRSP and a TFSA, the $100 fee will be split and the client will only pay $50 per account.
No changes have been made to the discount brokerage’s commission schedule.