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Commissions and fees

Disnat Classic Disnat Direct
Commissions on stocksfootnote 1
$9.95 From $5 to $9.95footnote 2
Commissions on optionsfootnote 1
$1.25
per contract, minimum $8.75
Commissions on mutual funds
No commission on most mutual funds
See exceptions, other fees and remuneration
Stocks (minimum $45)
Canadian markets
Price per share Commission
$0.00 – $0.50 2% of trade value
$0.51 – $1.00 $35 + [0.5¢/share]
$1.01 – $2.00 $35 + [2¢/share]
$2.01 – $5.00 $35 + [2.5¢/share]
$5.01 – $10.00 $35 + [3.5¢/share]
$10.01 – $20.00 $35 + [4.5¢/share]
$20.01 – $30.00 $35 + [5.5¢/share]
$30.01 and over $35 + [6.5¢/share]
American markets
Price per share Commission
$0.00 – $0.24 3% of trade value
$0.25 – $1.00 $39 + [2¢/share]
$1.01 – $2.00 $39 + [3¢/share]
$2.01 – $5.00 $39 + [4¢/share]
$5.01 – $10.00 $39 + [5¢/share]
$10.01 – $20.00 $39 + [6¢/share]
$20.01 – $30.00 $39 + [7¢/share]
$30.01 and over $39 + [8¢/share]
Options (minimum $35)
$2,50
per contract
Mutual funds

No commission on most mutual funds
See exceptions, other fees and remuneration

Disnat Classic Disnat Direct
Disnat Classic interface
Discover Disnat Classic
Disnat Direct interface
Discover Disnat Direct
$0 to $55 per month $0 to $155 per month
Platform fees and market data Number of trades per monthfootnote 4 Without TSX Venture With TSX Venture Number of trades per monthfootnote 4 Without TSX Venture With TSX Venture
Level 1
See the best bid price and ask price, as well as the lots available at these prices.
Real-time quotes at $0 0 to 9 $35footnote * $60footnote *
Optional service: Streaming quotes in real timefootnote 9
10 and over $0 $0
Level 1 ¾
See all the bid and ask prices available on a security, as well as all lots available at these prices. With this plan, you get level 1¾ market data on Canadian markets and level 1 market data on U.S. markets.
Not available 0 to 20 $60footnote * $95footnote *
21 to 30 $0 $95footnote *
31 and over $0 $0
Level 2
In addition to seeing all the bid/ask prices and available lots, you get access to the source of the orders depending on the broker code.
Not available 0 to 40 $105footnote * $155footnote *
41 and over $0 $0
Details Fees
Account management
Inactivity fees Inactivity fees are waived if:
  • Six or more trades have been executed in the preceding 12 months or
  • The value of the portfolio is $15,000 or more or
  • A registered account (RRSP, RRIF, RESP, etc.) is held

A fee of $30 per quarter will apply if none of the above criteria are met.

Stock Savings Plan II / SME Growth Stock Plan, annual fee $75footnote *
Account opening for trusts, guardianship, public curatorship $50
Account opening for a single trade $50 + commission for security trades placed by phone
Estate account processing fee $150
Certificate deposit $10 per certificatefootnote *
Certificate registration $50 per certificate
Certificate registration (rush) $150 per certificate
Safekeeping of negotiable securities held in client’s name $10 per security, per monthfootnote *
Non-Desjardins GIC, received from another institution $50footnote *
Cheque withdrawal $10
NSF cheque $25
Registered accounts
TFSA No administration fees, but subject to inactivity fees
Annual administration fees – RRSP / LIRA Market value of $15,000 or more: $0
LIRA with the same root account as an RRSP with a market value of $15,000 or more: $0
125 trades per year:footnote *** $0
Otherwise: $100footnote *
Annual administration fees – RRIF / LIF Market value of $25,000 or more: $0
125 trades per year:footnote *** $0
Otherwise: $100footnote *
Annual administration fees – RESP If the combined market value in all of the subscriber’s accounts is $15,000 or more in securities: $0
Otherwise: $50footnote *
Partial withdrawal (except TFSA) $25footnote *
Total withdrawal (except TFSA) $125footnote *
HBP: withdrawal and subsequent closing of RRSP $0
Swap $40
Unlocking of LIRA/LIF $100footnote *
TFSA contribution in kind $25footnote *
Transfers
Bank transfer to Canada or U.S. Bank: $25
Caisse: $15
Total account transfer to another institution $125footnote *
Partial account transfer to another institution $25footnote * per security
Transfer of securities or cash to third party (approval required) $25footnote *
Special transactions
Option exercise/assignment $30 per trade
Delivery against payment $30 per trade
Euroclear securities, buy or sell $150 + commission
Additional fees and taxes may apply depending on the market
Euroclear securities, receipt or delivery $150
Exchange of restricted stock (Securities Act 1933) for marketable stock $100
Épargne Placements Québec trade $45
General
Copy of account statement / tax slip $5 per item
Research request $25footnote * per hour
(min. 1 hour)
Contract duplicate or correction $25footnote *
Fee for non-consent to disclosure of contact information to reporting issuers $15footnote * per quarter

Interest is calculated daily based on the closing balance and posted monthly in the currency of the account, according to the rates below. Interest is not paid or charged on amounts less than $5, except for registered accounts, which have no minimum. Please note that rates are subject to change without notice.

See the current prime rates NOTE - This link will open in a new tab.
Debit balances
Margin Canadian rate U.S. rate
Cash account
All debit balances Prime + 9% Prime + 9%
Margin
$0 – $99,999 Prime + 1.25% Prime + 1%
$100,000 – $499,999 Prime + 0.5% Prime + 1%
$500, 000 and over Prime Prime + 0.5%
Credit balances
Balance Canadian rate U.S. rate
Regular account
$0 – $24,999 Prime - 4.25% Prime - 4.75%
$25,000 – $49,999 Prime - 4% Prime - 4.5%
$50,000 – $99,999 Prime - 4% Prime - 4.25%
$100,000 – $499,999 Prime - 3.25% Prime - 4.25%
$500,000 and over Prime - 3% Prime - 4%
Registered account
$0 – $49,999 Prime - 4.25% Prime - 4.75%
$50,000 – $99,999 Prime - 4% Prime - 4.5%
$100,000 – $499,999 Prime - 3.75% Prime - 4.25%
$500,000 and over Prime - 3.25% Prime - 4%

The exchange rate used for fund transfers or for trades is based on the net amount of the fund transfer or trade. The applied exchange rate will be the rate in effect at the time the fund transfer request is processed by Desjardins Online Brokerage or at the time the order is executed. Due to fluctuations in foreign exchange markets, please note that the exchange rate may change anytime during the day.

Desjardins Online Brokerage offers most of its brokerage accounts in Canadian and U.S. dollars. By trading U.S. securities exclusively in a U.S. dollar account, you will save on exchange rate fees. When you trade U.S. securities in a Canadian dollar account, a specific exchange rate is applied to each executed order or partial execution over the course of the day. The rules used are described in the following text.

The current exchange rates are posted in the Disnat Classic and Disnat Direct Trading Centre.

Where there are multiple trades or multiple executions in the same day, the exchange rate will be applied as follows:

For multiple trades or multiple executions (all buys or all sells), on the same or different securities

The applicable exchange rate is based on the rate range corresponding to the aggregate value of these trades. The exchange rate is the one in effect at the time each trade is executed.

Example

A client places 2 buy orders for U.S. securities in their registered account. The first order for $10,000 USD is executed at 10:30 a.m. and the second order for $7,000.00 USD is executed at 2:00 p.m. Since the executed trades are both buy orders, we add their values to determine the exchange rate range we will use. For $17,000 USD ($10,000 trade plus the $7,000 trade) we will use the $10,000 – $24,999.99 USD exchange rate range.

Exchange rates updated at 10:00 am
Range (USD) Buy exchange rate Sell exchange rate
$0 – $9,999.99 1.0457 1.0067
$10,000 – $24,999.99 1.0452 1.0072
$25,000 – $49,999.99 1.0367 1.0157

The first order was executed at 10:30 a.m. so we take the $10,000 – $24,999.99 USD buy exchange rate that was in effect at that time: 1.0452.

Exchange rates updated at 1:00 pm
Range (USD) Buy exchange rate Sell exchange rate
$0 – $9,999.99 1.0427 1.0037
$10,000 – $24,999.99 1.0422 1.0042
$25,000 – $49,999.99 1.0337 1.0127

The second order was executed at 2:00 p.m., so we take the $10,000 – $24,999.99 USD buy exchange rate that was in effect at that time: 1.0422.

For multiple buys and sells on the same or different securities, in the same account number (7 or 10 characters)

The applicable exchange rate is based on the rate range corresponding to the difference between buys and sells. If the total value of buys is greater than the total value of sells, then the “Buy” rate will apply to all trades and executions. If the total value of sells is greater than the total value of buys, then the “Sell” rate will apply to all trades and executions. The exchange rate is the one in effect at the time each trade was executed.

Example

A client places 2 buy orders for U.S. securities in their registered account and places 1 sell order for a U.S. security. The first buy order for $12,000 USD is executed at 11:30 a.m., the second buy order for $8,000.00 USD is executed at 1:15 p.m. and the sell order for $6,000 USD is executed at 3:30 p.m.

First we need to calculate the net value of the 3 transactions, which works out to $14,000 USD ($12,000 + $8,000 - $6,000 = $14,000). Since the total value of the buy orders is greater than the sell order, we will be using the “Buy” rate for the $14,000 USD order. The $10,000 – $24,999.99 USD exchange rate range will apply to each execution, based on the time the order was executed.

Exchange rates updated at 10:00 a.m.
Range (USD) Buy exchange rate Sell exchange rate
$0 – $9,999.99 1.0457 1.0067
$10,000 – $24,999.99 1.0452 1.0072
$25,000 – $49,999.99 1.0367 1.0157

The first buy order was executed at 11:30 a.m., so we take the $10,000 – $24,999.99 USD buy exchange rate that was in effect at that time: 1.0452.

Exchange rates updated at 1:00 p.m.
Range (USD) Buy exchange rate Sell exchange rate
$0 – $9,999.99 1.0427 1.0037
$10,000 – $24,999.99 1.0422 1.0042
$25,000 – $49,999.99 1.0337 1.0127

The second buy order was executed at 1:15 p.m., so we take the $10,000 – $24,999.99 USD buy exchange rate that was in effect at that time: 1.0422.

Exchange rates updated at 3:00 p.m.
Range (USD) Buy exchange rate Sell exchange rate
$0 – $9,999.99 1.0447 1.0057
$10,000 – $24,999.99 1.0442 1.0062
$25,000 – $49,999.99 1.0357 1.0147

For the sell order, which was executed at 3:30 p.m., we will also be using the $10,000 – $24,999.99 USD buy exchange rate that was in effect at that time: 1.0442

Margin accounts allow investors to use a wider variety of equity strategies and provide the buying power needed to purchase stocks, even though they might not have the funds upfront. The loan value is calculated based on the securities in the investor’s account or is equivalent to a certain percentage of the purchase price of the stocks they want to buy. The maximum loan value therefore varies based on the type of investment and the market value of the stocks.

Short selling involves selling a security that you do not own in the hopes you can can buy it back later at a lower price. Short sell orders can only be entered in margin-short accounts. On Canadian markets, only board lots are accepted, while U.S. markets accept short sells of board lots and odd lots.

Marges
Security price % loan value
Canadian and U.S. equitiesfootnote 5
$5 and overfootnote 6 70%
$3 and over 50%
$3 and over with security or sector concentration in the accountfootnote 7 40 to 50%
Under $3 No loan
Canadian and U.S. options
N/A No loan
Mutual funds
$3 and over 50%
Under $3 0%
Type of security % loan value
Corporate bonds and debentures 50%
Municipal bonds 95%
Provincial bonds 95%
Commercial paper 90%
Canada bonds 96%
T-Bonds (Canadian or U.S.) maturing in > 3 years 96%
T-Bills/T-Bonds (Canadian or U.S.) maturing in < 3 years 99%
Short sells
Share value Minimum margin required
$5 and over footnote 6 30% of the market value
$3 to $4.99 150% of the market value
$2 to $2.99footnote 8 200% of the market value
$1.50 to $1.99footnote 8 $3 per share
$0.25 to $1.49footnote 8 200% of the market value
Under $0.25footnote 8 100% of the market value + $0.25 per share

Debt securities

The standard norm for trading debt securities is to include the commission paid to the broker (Desjardins Online Brokerage) in the purchase price and selling price. This means that prices are increased during a purchase and reduced during a sale. This difference is known as a spread. The spread may vary from one tenth of a basis point (0.1) to one and a half basis points (1.5) depending on the maturity date of the security. Yields displayed on our website reflect the spreads applied.

Apart from the commission paid to the broker (Desjardins Online Brokerage), the firm (Desjardins Securities) may also receive income resulting from the difference between the purchase price and selling price. This income is included in the purchase or sale price of the debt security.

Securities offering

When the firm (Desjardins Securities) acts as an underwriter or agent in a securities offering, compensation is paid by the issuer to Desjardins Online Brokerage.

Currency conversion

In any transaction requiring currency conversion, the broker (Desjardins Online Brokerage) may earn, in addition to commission for the brokerage, income from the conversion. In this type of transaction, the firm (Desjardins Securities) acts as principal and uses a competitive conversion rate based on market buying and selling rates for the currency, with “currency conversion” and “income” included as separate parts. Any currency conversion is conducted at the rate in effect on the day of the transaction.

  1. *Taxes extra
  2. **To take advantage of the 10 streaming quotes offer, you must first be signed up to receive online statements. The subscription for the online statement will automatically apply when you sign up for the 10 streaming quotes option. You’ll receive a statement of your portfolio in your inbox on disnat.com.
  3. ***125 cumulative trades per year, per client. Reference period: September 1 to August 31.
  1. Commissions are calculated on a daily basis and charged in the currency of the trade. A minimum commission is applicable to each trade.
    The Securities and Exchange Commission (SEC) charges a fee for every executed sell order on any American exchange.
    Desjardins Online Brokerage reserves the right to limit the number of intra-session trades on the same security.
    Desjardins Online Brokerage reserves the right to refuse any trade placed on U.S. over-the-counter markets (i.e., OTCBB). For more details regarding this policy, please contact our Client Service team.
  2. Minimum commission is $5.00 with a maximum of $9.95. as per the following conditions:
    • Shares trading at $2.00 and less, depending on quantity: 10,000 or fewer shares: $5; 10,001 or more shares: $9.95.
    • Shares trading at $2.01 and over, depending on currency: Canadian shares: $0.01 per share; U.S. shares: $0.005 per share.
  3. Commissions are calculated on a daily basis and charged in the currency of the trade. A minimum commission is applicable to each trade.
    Trades valued at $2,000 or less are charged a flat commission of $45 CAD or USD.
    The Securities and Exchange Commission (SEC) charges a fee for every executed sell order on any American exchange.
    Desjardins Online Brokerage reserves the right to refuse any trade placed on U.S. over-the-counter markets (i.e.: OTCBB). For more information regarding this policy, please contact our Client Service team.
  4. Commission rates applicable for the current calendar month are based on the total of all accounts linked to the same login ID during the preceding calendar month.
    There is no charge for the first calendar month, regardless of the number of transactions made.
    IMPORTANT: If you want to temporarily suspend or permanently end your services, please notify us by phone before the last business day of the current month in order to avoid being charged the fixed platform user fees the following month.
  5. Except certain stocks trading on the TSX Venture Exchange and on over-the-counter markets, which are not marginable. Desjardins Online Brokerage reserves the right to reduce or remove the loan value on a stock.
  6. Applicable only to U.S. option-eligible securities and Canadian securities eligible for reduced margin based on the quarterly list issued by the IIROC.
  7. Stock or group of stocks of the same sector, representing 50% or more of the portfolio value.
  8. Short sells are not accepted for stocks below $3; however, existing short positions may be held if the share price falls below $3.
  9. Disnat classic - platform fees and market data Number of trades per monthfootnote 4 Without TSX Venture With TSX Venture
    Level 1
    See the best bid price and ask price, as well as the lots available at these prices.
    10 streaming quotes in real time (your screen automatically refreshes) and your portfolio in real time
    0 to 9 $30footnote * $55footnote *
    10 and over $0footnote ** $0footnote **