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Disnat Classic
Commissions for online security tradesfootnote 1
See exceptions, other fees and remuneration
Learn more – Other information regarding broker remuneration
Quotes and market data
General fees
Disnat Direct
Commissions for online security tradesfootnote 1
See exceptions, other fees and remuneration
Learn more – Other information regarding broker remuneration
Steaming quotes and market datafootnote 4
$0 per month if 10 trades or more
$0 per month if 41 transactions or more
General fees
Other commissions and fees
Commissions on security trades placed by telephonefootnote 3
Stocks and ETFs (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
Fixed income securities
Minimum $50 per trade. See details.
Debentures
Nominal value 0,01 – $24 999: $3/$1000, minimum $45 per transaction
Nominal value $25,000 or more $2/$1000 minimum $45 per transaction
Guaranteed Investment Certificates (GIC)
Commission of 0.25% of the value. Minimum purchase of $5,000.
Streaming Data Fees
Disnat Classic: Streaming Quotes (on demand)
| Features | Number of trades per month | Monthly cost |
|---|---|---|
|
0 to 9 | $30footnote 3 |
| 10 and over | $0 |
Disnat Direct: Streaming Data and Quotes
| Features | Number of trades per month | Monthly cost |
|---|---|---|
| Market-Q platform | ||
| With this option, you get market depth by price on Canadian markets. In the US markets, view the best bid and ask prices as well as the lots available at these two prices. | 0 to 9 | $35footnote 3 |
| 10 and over | $0 | |
| Market-Q platform Level 2 | ||
| With this option, you get the depth by origin of orders on the Canadian market and the TotalView service on the US side. | 0 to 40 | $105footnote 3 |
| 41 and over | $0 | |
Discover Disnat Direct
General fees
| Details | Feesfootnote 11 |
|---|---|
| Inactivity fees |
$0 if:
$30 per quarter will apply if the above criteria not met. |
| Account opening for trusts, guardianship, public curatorship | $200 |
| Account opening for a single trade | $50 + commission for security trades placed by phone |
| Estate account processing fee | $200 |
| Certificate deposit or Direct Registration System (DRS) | $100 per certificatefootnote 3 |
| Certificate registration | $150 per certificate |
| Certificate registration (rush) | $250 per certificate |
| Safekeeping of negotiable securities held in client’s name | $10 per security, per monthfootnote 3 |
| Non-Desjardins GIC, received from another institution | $50footnote 3 |
| Cheque withdrawal | $10 |
| NSF cheque | $25 |
| Details | Fees |
|---|---|
| TFSA | No administration fees, but subject to inactivity fees |
| Annual administration fees – RRSP / LIRA |
Market value of $15,000 or more in the RRSP (CAN$ & US $ combined): $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 9 $0 Otherwise: $100footnote 3 |
| Annual administration fees – RRIF / LIF |
Market value of $25,000 or more: $0 125 trades per year:footnote 9 $0 Otherwise: $100footnote 3 |
| 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 3 |
| Partial withdrawal (except TFSA and RESP) | $25footnote 3 |
| Total withdrawal (except TFSA and RESP) | $150note de bas de page 3 |
| HBP: withdrawal and subsequent closing of RRSP | $0 |
| Swap | $40 |
| Unlocking of LIRA/LIF | $150note de bas de page 3 |
| Details | Fees |
|---|---|
| Bank transfer to Canada or U.S. |
Bank: $25 Caisse: $15 |
| Total account transfer to another institution | $150note de bas de page 3 |
| Partial account transfer to another institution | $25footnote 3 per security |
| Transfer of securities or cash to third party (approval required) | $25footnote 3 |
| Details | Fees |
|---|---|
| Option exercise/assignment | $30 per trade |
| Delivery against payment | $30 per trade |
| International securities, buy or sell |
$150 + Telephone trades Additional fees and taxes may apply depending on the market |
| International securities, receipt or delivery | $150 |
| Exchange of restricted stock (Securities Act 1933) for marketable stock | $100 |
| Épargne Placements Québec trade | $45 |
| Details | Fees |
|---|---|
| Request for research and copy of statement of account | $50 fixed rate + $5 per itemnote de bas de page 3 |
| Contract duplicate or correction | $25footnote 3 |
| Fee for non-consent to disclosure of contact information to reporting issuers | $15footnote 3 per quarter |
Interest rates
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 ratesThis link will open in a new tab.Debit Balances
| Balance | Canadian rate | U.S. rate |
|---|---|---|
| All debit balances | Prime + 9% | Prime + 9% |
| Balance | Canadian rate | U.S. rate |
|---|---|---|
| Between $0 and $99,999 | Prime + 1.25% | Prime + 1% |
| Between $100,000 and $499,999 | Prime + 0.5% | Prime + 1% |
| $500, 000 and over | Prime | Prime + 0.5% |
Credit balances
| Balance | Canadian rate | U.S. rate |
|---|---|---|
| Between $0 and $24,999 | Prime -minus 4.25% | Prime -minus 4.75% |
| Between $25,000 and $49,999 | Prime -minus 4% | Prime -minus 4.5% |
| Between $50,000 and $99,999 | Prime -minus 4% | Prime -minus 4.25% |
| Between $100,000 and $499,999 | Prime -minus 3.25% | Prime -minus 4.25% |
| $500,000 and over | Prime -minus 3% | Prime -minus 4% |
| Balance | Canadian rate | U.S. rate |
|---|---|---|
| Between $0 and $49,999 | Prime -minus 4.25% | Prime -minus 4.75% |
| Between $50,000 and $99,999 | Prime -minus 4% | Prime -minus 4.5% |
| Between $100,000 and $499,999 | Prime -minus 3.75% | Prime -minus 4.25% |
| $500,000 and over | Prime -minus 3.25% | Prime -minus 4% |
Exchange rates
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 Conversion section of Fund Transfer menu in the secure site.
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 will be determined first on the basis of the rate corresponding to the total value of transactions and then based on the exchange rate in effect at the time each order is executed.
Example 1
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 also applied according to the rate in effect at the time each order is executed.
Example 2
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
Calculating margins
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.
| Price of stock | Advance in % of the market value |
|---|---|
| Canadian and US stocksfootnote 5 | |
| $5 and overfootnote 6 | 70% |
| $3 and over | 50% |
| $3 and over if stock or sector concentrationfootnote 7 | 40 to 50% |
| Below $3 | Not marginable |
| Options Canadian and US | Not marginable |
| Mutual Funds | |
| $3 or more | 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% |
| Share value | Minimum margin required |
|---|---|
| $5 and over footnote 6 | 130% 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 |
Other information regarding broker remuneration
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. The minimum commission fee for each trade is $50. Yields displayed on our website reflect the commission fees and 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.
Notes
-
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. Trades placed by phone valued at $2,000 or less are charged a flat commission of $45 CAD or USD.
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. Securities traded online include stocks, ETFs, rights, warrants and preferred shares.
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. -
Commissions are calculated on a daily basis and charged in the currency of the trade. A partial execution will be subject to the full commission if the transaction is not executed in its entirety on the same business day. 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. Trades placed by phone valued at $2,000 or less are charged a flat commission of $45 CAD or USD 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. - Taxes extra (in the currency of the account).
-
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.
Streaming data fees are not charged on the first calendar month of platform use, no matter the number of trades executed.
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. - 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.
- Applicable only to U.S. option-eligible securities and Canadian securities eligible for reduced margin based on the quarterly list issued by the IIROC.
- Stock or group of stocks of the same sector, representing 50% or more of the portfolio value.
- Short sells are not accepted for stocks below $3; however, existing short positions may be held if the share price falls below $3.
- 125 cumulative trades per year, per client. Reference period: September 1 to August 31.
- Streaming quotes on demand, contact our Client Service team.
- Fees are charged in the currency of the account.