Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
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BMO InvestorLine Review: A Premium Canadian Discount Broker
– canadianfinanceblog.com
By my count, Canadian investors can choose from at least a dozen discount brokerages to do their self-directed investing. One of the larger brokerages is BMO InvestorLine, the online broker arm of Bank of Montreal, one of Canada’s Big 6 Banks. In this full review, I’ll let you know what to expect when you invest with BMO InvestorLine, how they stack up against the competition, and the type of client they’re best suited for.
What Is BMO InvestorLine?
BMO InvestorLine gives customers the ability to trade stocks, bonds, ETFs, and more, online. It’s part of BMO Wealth Management, which delivers full-service investing through BMO Nesbitt Burns and private banking services through BMO Private Banking.
InvestorLine Account Types
BMO InvestorLine offers a full range of self-directed accounts. Here is a list of what’s available:
Non-Registered Account Types
What Is BMO InvestorLine?
BMO InvestorLine gives customers the ability to trade stocks, bonds, ETFs, and more, online. It’s part of BMO Wealth Management, which delivers full-service investing through BMO Nesbitt Burns and private banking services through BMO Private Banking.
InvestorLine Account Types
BMO InvestorLine offers a full range of self-directed accounts. Here is a list of what’s available:
Non-Registered Account Types
Cash trading account
Margin and Joint accounts
non-personal accounts (Corporate, non-profit, charitable organization, estate, partnership, formal trust)
Registered Account Types
TFSA – Tax-Free Savings Account
RRSP – Registered Retirement Savings Plan
Spousal RRSP – Spousal Retirement Savings Plan
RRIF – Registered Retirement Income Fund
PRIF – Prescribed Retirement Income Fund
LIRA – Locked-In Retirement Account
LRIF – Locked-In Retirement Income Fund
LIF – Life Income Fund
RESP – individual and family plans
BMO InvestorLine Trading Fees
InvestorLine customers pay a flat fee of $9…
