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CIBC Investor's Edge review
CIBC / CIBC
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4.3
4.3
Pricing4
Online security4.8
User experience4.5
Customer service3.3
CIBC Investor's Edge is the online brokerage of CIBC, one of the largest banks in Canada. It offers a low, flat commission of $6.95 per online trade for stocks and ETFs. Clients have access to a full range of account types and investment options, online and mobile trading, and free research and analysis. The platform is best suited for investors looking for low trading fees in a big bank brokerage environment. It’s also a great option for existing CIBC banking clients who want to self-manage their investments.
CIBC Investor's Edge Welcome offer:
For a limited time, with CIBC Investor’s Edge, kick-start your portfolio with 100 free trades and up to $4,500 cash back.
CIBC Investor's Edge is best for:
- Low trading fees
- Wide range of account types and investment options
- Quotes and Research
What is CIBC Investor’s Edge?
Backed by the security and dependability of CIBC, one of Canada's Big 6 banks, CIBC Investor's Edge offers a comprehensive platform for do-it-yourself investors to build and manage their own portfolios.
A newly redesigned website combined with low-cost stock and ETF trading has launched CIBC Investor's Edge into the upper tier of the best trading platforms in Canada.
At $6.95 per online equity trade, Investor’s Edge offers competitive trading fees when compared to other Canadian big bank brokerage platforms and is only slightly more expensive than Questrade in terms of stock trading fees.
Clients can trade stocks, ETFs, options, mutual funds and more online or through a mobile app, keep on top of markets with a vast library of research, and set up alerts to monitor stocks and get real-time quotes.
CIBC Investor's Edge fees
CIBC Investor's Edge does not charge annual account fees for TFSAs or RESPs. It charges $100 per year for RRSPs when the account balance is $25,000 or less, but this fee is waived for balances greater than $25,000. Non-registered accounts with less than $10,000 cost $100 per year, but this fee is waived for balances greater than $10,000.
Investor’s Edge charges flat-fee pricing of $6.95 per online trade for Canadian and U.S. listed stocks and ETFs. Active traders who make more than 150 trades per quarter qualify for “Active Trader” pricing and pay $4.95 per online equity trade. Also, $5.95 per online trade for students with a CIBC Smart™ Account for students.
Young investors 18 to 24 can trade stocks and ETFs online - all for free. Save on the regular rate with unlimited free online Canadian and U.S. stock and ETF trades and a $0 annual account fee with no minimum balance.
- Step 1: Open a CIBC Smart™ Account with CIBC Smart™ Start
- Step 2: Open a CIBC Investor's Edge Account and choose from TFSA, RRSP and non-registered accounts. Terms and conditions apply.
CIBC Investor's Edge features
CIBC Investor's Edge stands out from other big bank online brokers thanks to its newly redesigned website with advanced charting and analysis, convenient notifications and alerts, custom watch lists, and low trading fees on stocks and ETFs.
Pros & cons
Pros
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Low fee stock and ETF trades
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No account fees for TFSAs and RESPs
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Backed by one of Canada’s largest banks
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Young Investors 18 to 24 can trade stocks and ETFs online - all for free. Terms and conditions apply.
Cons
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$100 fee for RRSP and non-registered accounts with small balances
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No commission-free ETFs
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Reputation for poor customer service (at the bottom of Surviscor’s annual brokerage comparison)
How does CIBC Investor's Edge compare?
While CIBC Investor’s Edge fares favourably against other big bank online brokers, how does it compare against even lower-cost options like Questrade and Wealthsimple Trade? Let’s take a look:
| Broker | Cost per online trade | Cost per online ETF purchase | Options contract | Registered account fees |
|---|---|---|---|---|
| CIBC Investor’s Edge | $6.95 | $6.95 | $6.95 + $1.25/contract | $0 for TFSA, RESP, and RRSPs with balances greater than $25,000 OR $100 for RRSPs with balances less than $25,000 |
| Questrade | $4.95-$9.95 | $0 | $9.95 + $1/contract | $0 |
| Wealthsimple Trade | $0 | $0 | N/A | $0 |
CIBC Investor's Edge vs. Questrade
CIBC Investor's Edge stacks up well against Questrade, which is our top choice for the best online brokerage in Canada. Investor’s Edge clients can access all of the same account types and most of the investment options that are offered through Questrade (with the exception of foreign exchange trading).
Questrade has lower trading fees, as their stock trades are as low as $4.95 compared to the $6.95 flat fee at CIBC, and Questrade clients can purchase ETFs for free (with a fee ranging from $4.95-$9.95 for selling), whereas CIBC Investor's Edge clients pay $6.95 for both buying and selling ETFs.
CIBC Investor's Edge gets the nod in terms of being backed by one of Canada’s big five banks – especially for existing CIBC banking clients who can easily toggle between their brokerage account and online banking, plus fund their accounts on the same day.
CIBC Investor's Edge vs. Wealthsimple Trade
Wealthsimple Trade presents a formidable challenge to CIBC Investor's Edge since Wealthsimple Trade clients can buy and sell Canadian and U.S. listed stocks and ETFs for free instead of paying $6.95 per online trade.
But CIBC Investor's Edge has the edge over Wealthsimple Trade for investors who need to open more than just an RRSP, TFSA, or non-registered account (i.e. LIRA, RESP, RRIF). CIBC Investor's Edge offers every account type.
Finally, Wealthsimple Trade does not allow its clients to hold USD which means investors get dinged foreign exchange fees every time they purchase or sell a U.S. listed stock or ETF. CIBC Investor's Edge clients can hold USD in all registered accounts except for RESPs.
READ MORE: Best online brokerage accounts in Canada for 2023
Inside CIBC Investor's Edge
The CIBC Investor's Edge platform got a refresh with more improvements promised for this year. Here’s a look at the updated platform:
The biggest change is the better organization of your information on the main dashboard, plus the addition of more user-friendly menus on both the desktop and mobile platforms.
The quotes and research area gives clients a quick overview of the Canadian and U.S. markets, activity and news at a glance:
Investor’s Edge makes it easy to trade stocks and ETFs with a three-step order entry process for both Canadian and U.S. listed securities:
Overall, the newly refreshed Investor’s Edge platform was well executed and offers a great user experience. Trading is simple and easy to navigate, and clients will enjoy the smartly organized dashboard.
FAQs
Final call: is CIBC Investor's Edge worth it?
CIBC Investor's Edge gets top marks for its newly refreshed website and updated platform. They also offer the lowest trading fees of any big bank online brokerage platform and compare favourably to Questrade in terms of fees and the wide availability of account types and investment options. Bonus points for an extremely intuitive three-step entry process for trading stocks and ETFs.
All of this to say, CIBC Investor's Edge is the top choice for self-directed investors who want to stay within the friendly confines of a bank-owned online brokerage with strong security measures.
More specifically, if you’re an existing CIBC banking customer who wants to start self-managing your investments then CIBC Investor’s Edge is certainly worth it. You’ll be able to fund your Investor’s Edge account within the same day (versus two business days coming from an external bank) and toggle seamlessly between CIBC online banking and CIBC Investor’s Edge so you can keep all of your banking and investments in one place.
Learn more about CIBC Investor's Edge
Robb Engen is a leading expert in the personal finance realm of Canada and is also the co-founder of Boomer & Echo, an award-winning personal finance blog.
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