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Scotia iTRADE

Online Experience Signal Customer Service Signal Mobile Experience Signal

Top-Tier Firm

Good: < 12 hours

Top-Tier Firm


2016 Online Brokerage Review 2015 Mobile Brokerage Review
Score: 78% Score: 57%
Rank: 2nd Rank: 2nd
13 Firms Reviewed 11 Firms Reviewed
Surviscor Assessment:
Website Design
 B+
Account Services
 A-
Market Information
 B-
Transaction Process
 B-
Website Resources
 C
Commissions
 C-
Service Level Assessment
 C-
Mobile Accessibility
 C
Surviscor Assessment:
iPhone Grade
 C+
iPad Grade
 B-
Android Smartphone Grade
 C+
Android Tablet Grade
 C+
Blackberry Touchscreen Grade
 C+
Online Highlights

Scotia iTRADE continues to offer a top-tier offering and despite only 1 sub-category honours in the 2016 review.

  • Strong public and transactional website design and usability
  • Good brokerage/banking interaction
  • Strong account services
  • Strong transactional process
Mobile Highlights
  • Good introduction to services
  • iPad App
  • Options trading
Drawbacks
  • Minimal secure site educational material
  • Low activity and small equity level commission fees
  • High general fees
Drawbacks
  • No Mutual Funds trading
  • Limited supporting resources

Brokerage Rankings

Qtrade Investor is the new leader in online customer experience in the Canadian Online Discount Brokerage landscape with a convincing win, dethroning BMO InvestorLine, a four time winner since 2011. The Surviscor Canadian Online Discount Brokerage Review focuses on the relatively 'free' segments of business for the everyday Canadian Investor.

CLICK HERE to WATCH the TV Interview on the Business News Network - BNN. 



1 Qtrade Investor 87%
2 Scotia iTRADE 78%
3 Questrade 77%
4 Virtual Brokers 76%
5 BMO InvestorLine 76%
6 TD Direct Investing 72%
7 RBC Direct Investing 71%
8 Credential Direct 69%
9 Desjardins Online Brokerage 68%
10 CIBC Investor's Edge 63%
11 National Bank Direct Brokerage 60%
12 HSBC InvestDirect 53%
13 Laurentian Bank Discount Brokerage 37%

For the fourth straight year, MoneySense magazine and Surviscor have partnered to produce the annual Canada's Best Canadian Online Brokerages review. The study was conducted in March 2016 using Surviscor's most recent Canadian online and mobile brokerage features, functionality and service data to support the conclusions.

The methodology and results were jointly produced by Surviscor and MoneySense. CLICK on any firm for more detailed information and educational content. Additional Canadian brokerage firms not mentioned as well as all Canadian banking firms can be found by clicking: LEARN MORE ABOUT MY FIRMS

The category top picks and honourable mentions were:

Getting Started

Top Pick annd Honourable Mention:
BMO InvestorLine and Virtual Brokers

Ease of Use

Top Pick annd Honourable Mention:
Scotia iTRADE and Questrade

Fees and Commissions

Top Pick annd Honourable Mention:
Questrade and Qtrade Investor

Customer Service

Top Pick annd Honourable Mention:
Qtrade Investor and Scotia iTRADE

Reporting & Recordkeeping

Top Pick annd Honourable Mention:
Scotia iTRADE and BMO InvestorLine

Market Data

Top Pick annd Honourable Mention:
TD Direct Investing and Credential Direct

Best Overall - Top Bank-Owned Brokerage

Top Pick annd Honourable Mention:
Scotia iTRADE and BMO InvestorLine

Best Overall - Top Independent Brokerage

Top Pick annd Honourable Mention:
Qtrade Investor and Questrade

Magazine release: April 27, 2016

Service Level Rankings

For the second consecutive year, Qtrade Investor is the leader in customer service amongst Canadian self-directed brokerage firms, as measured by the 2016 Surviscor Service Level Assessment review. The review, now in its 12th year, analyzed over 170 'mystery shopper' service enquiries, per firm, in 2016. Desjardins Online Brokerage and Scotia iTRADE rounded up the top three.

1 Qtrade Investor 96%
2 Desjardins Online Brokerage 81%
3 Scotia iTRADE 79%
4 RBC Direct Investing 71%
5 HSBC InvestDirect 52%
6 TD Direct Investing 50%
7 BMO InvestorLine 29%
8 Credential Direct 29%
9 Virtual Brokers 27%
10 National Bank Direct Brokerage 23%
11 Jitney Trade 18%
12 CIBC Investor's Edge 15%
13 Questrade 15%
14 Laurentian Bank Discount Brokerage 4%



Current Rank 1
Overall Score (%) 99
Current Service Rating (%) 85
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Current Rank 3
Overall Score (%) 71
Current Service Rating (%) 85
Overview:
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Latest Ranking Report:
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