Brokerages
National Bank Direct Brokerage (NBDB)
The full published fee schedule as captured from the brokerage's own pricing pages.
- Stock commission
- Free, $0 commission on all Canadian and U.S. stocks, online trades (Commission and General Fee Schedule, effective June 1, 2025); agent-assisted trades available online may incur a $60 fee
- ETF buy commission
- Free, Exchange-Traded funds (ETFs): Free, online trades
- ETF sell commission
- Free, Exchange-Traded funds (ETFs): Free, online trades
- Options commission
- $0 commission + $1.25 per contract, minimum fee of $6.25 per trade; maximum fee of $19.95 when transaction value is less than $2,000; assignment and automatic exercise $28.95; agent-assisted options trades $60 in addition to online fees
- Currency conversion
- Policy only in the fee schedule: NBDB acts as principal, the rate 'includes a spread', the spread 'varies according to the amount of the operation' and 'can be obtained by visiting our website or by contacting one of our agents', no numeric percentage published in the fee schedule fetched in this pass
- Margin rates
- Not published in the capture
- Admin fees
- Annual administration fee $100 per account root, divided between all accounts under the root (e.g. RRSP + TFSA = $50 each); waived if any one of: eligible assets of $20,000 or more as of May 31, only an InvestCube account, Young Investor aged 30 or younger on May 31, or enrolled in an exclusive offer. Opening an account: Free
- Inactivity fee
- Not published in the capture
- Transfer out fee
- $150 per account, 'Total or partial transfer to another institution (plus commissions if applicable) $150 per account' (full and partial not distinguished)
- Account minimums
- Not published in the capture
Notes from the capture
Fee schedule effective June 1, 2025. Zero-commission claim conditions: $0 applies to online trades of Canadian and U.S. stocks and ETFs only; trades assisted by an agent carry a $60 fee (options trades $60 in addition to online fees; international securities trades $60). No separate inactivity fee is listed in the schedule, so inactivity_fee is null, the recurring charge is the $100 annual administration fee. Margin rates are null because the schedule publishes no numeric rates and directs readers to the website for current rates; numeric CAD/USD margin rates were not captured from an official page in this pass. Account minimums are null because no minimum figure is stated in the schedule. Also captured: internal security transfer between CAD and USD accounts $9.95 per security; TFSA/FHSA/RESP/RDSP withdrawals Free; lump-sum RRSP/RRIF/LIF withdrawal $50; asset transfer in from another institution Free.
Source: https://www.nbc.ca/content/dam/shared/pdf/brokerage/19467-7-nbdb-fee-guide-commission-general-fee-schedule.pdf | Captured 2026-11-15