Desjardins Online Brokerage.

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Disnat Classic

Commissions for online security tradesfootnote 1
Equities and ETFs
$0  commission
Options
$1.25  per contract, minimum $8.75
Mutual funds
$0  no commission on most mutual funds
See exceptions, other fees and remuneration
Fixed Income securities
$50  minimum per trade
Learn more – Other information regarding broker remuneration
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Quotes and market data
In real time
$0  included

General fees

Inactivity fees ($30 per quarter)
$0  Inactivity fees are waived if: 6 or more trades have been executed in the preceding 12 months, if the value of the portfolio is $15,000 or more or if a registered account (RRSP, RRIF, LIRA, LIF, RESP) is held
See all general fees

Other commissions and fees

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.

Disnat Classic: Streaming Quotes (on demand)

Features Monthly cost
  • 10 Streaming quotes in real time
  • Auto refresh of your screen
  • See the best bid price and ask price, as well as the lots available at these prices

$0 if:

  • 10 or more trades have been executed during the previous month

$30footnote 3 if the above criteria not met.

Disnat Direct: Streaming Data and Quotes

Features Monthly cost
Market-Q platform
View the best bid and ask prices as well as the lots available at these two prices.

$0 if:

  • 10 or more trades have been executed during the previous month and
  • The value of the portfolio is $15,000 or more.

$35footnote 3 if the above criteria not met.
Market-Q platform Level 2
With this option, you get the market depth by price and by origin of orders on the Canadian markets as well as the TotalView service on the US side.

$0 if:

  • 41 or more trades have been executed during the previous month and
  • The value of the portfolio is $15,000 or more.

$105footnote 3 if the above criteria not met.

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Account management
Details Feesfootnote 9
Inactivity fees FREEfootnote 10 if:
  • 6 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 (excluding TFSA and FHSA) is held or
  • You're an investor between 18 and 30 years old

$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
Registered accounts
Details Fees
TFSA and FHSA No administration fees, but subject to inactivity fees
Annual administration fees – RRSP / LIRA Market value of $15,000 or more: FREE
LIRA with the same root account as an RRSP with a market value of $15,000 or more: FREE
Otherwise: $100footnote 3
Annual administration fees – RRIF / LIF Market value of $25,000 or more: FREE
Otherwise: $100footnote 3
Annual administration fees – RESP fv If the combined market value in all of the subscriber’s accounts is $15,000 or more: FREE
Otherwise: $50footnote 3
Partial withdrawal (except TFSA, RESP and FHSA) $25footnote 3
Total withdrawal (except TFSA, RESP and FHSA) $150note de bas de page 3
HBP: withdrawal and subsequent closing of RRSP FREE
Swap $40
Unlocking of LIRA/LIF $150note de bas de page 3
Transfers
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
Special transactions
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
General
Details Fees
Request for research and copies of account documents $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 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

Cash account
Balance Canadian rate U.S. rate
All debit balances Prime + 9% Prime + 9%
Margin account
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

All accounts
Balance Canadian rate U.S. rate
Between $0 and $49,999 Prime -minus 5.50% Prime -minus 7.80%
Between $50,000 and $99,999 Prime -minus 5.25% Prime -minus 7.55%
Between $100,000 and $499,999 Prime -minus 5.00% Prime -minus 7.30%
$500,000 and over Prime -minus 4.75% Prime -minus 7.05%

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.

The current exchange rates can be founded in the Currency Conversion section of the Trading menu in Help on the secure site, and in the Conversion Tab of the Fund Transfers menu on the mobile.

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.

Margin
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%
Short sells
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

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 (the income margin can vary between 0.15% and 1.90%, depending on the value of the conversion). Any currency conversion is conducted at the rate in effect on the day of the transaction. The conversion rates in effect at a given time and the income margin on conversion can be consulted on the Disnat brokerage platform in the Currency Conversion section of the Trading menu in Help on the secure site, and in the Conversion Tab of the Fund Transfers menu on the mobile.

U.S. Marketplaces: Payment for Order Flow

Desjardins Securities must pay fees for the execution of its clients' orders on the Canadian and U.S. marketplaces. However, there may be situations in which Desjardins Securities will receive cash payments (“rebates”) from U.S. intermediaries on transactions it executes. These rebates differ depending on the marketplace and traded security, and are often contingent upon the total volume of routed orders, the liquidity created by these orders, or by the nature of the party initiating the order (i.e., an individual or institutional investor). These rebates can vary between five thousandths of a cent ($0.00005) and two tenths of a cent ($0.002) per share. The cost of execution (fees to be paid by Desjardins Securities and potential rebates) may be considered as part of Desjardins Securities’ order routing decision-making process. If and when such situations give rise to a material conflict of interest, Desjardins Securities undertakes to take measures to identify and address such situations fairly and reasonably, in keeping with its regulatory obligations. Clients’ orders are traded on any U.S. marketplace to which Desjardins Securities has access and/or can access to meet its best execution obligations.

  1. 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.
  2. 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.
  3. Taxes extra (in the currency of the account).
  4. Commission rates applicable for the current calendar month are based on the total activity and value 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.
  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. Fees are charged in the currency of the account.
  10. The fee waiver criteria must be met by the end of each quarter to qualify for the inactivity fee exemption.