I’ve been a customer of CIBC for a very long time, probably since I was 5-6 when I opened my first bank account. When I turned 15-16, I opened a CIBC Investors Edge Account (with my parents). Since I have substantial experience with CIBC Investors Edge, I thought I would share some of my thoughts on them.

Trading Platform

Their basic trading platform is a web based one. Their interface is very basic, and can be quite cumbersome. For example, after placing a trade, it brings you to a “confirmation page” which requires you to re-enter your password. It’s an extra bit of security, but slows down the process. Perhaps I’m spoiled with the super quick execution of Interactive Brokers.

Mutual Funds

  • Like other big banks, they have access to an abundance of mutual funds.
  • They have a free mutual fund screener (same as globefund.com).

Fees

  • $100/year for balances under $25,000 for RRSP/RRIF/LIRA/LIF;
  • $0/year for TFSA; and,
  • $100/year for balances under $10,000 for non-registered accounts (exempt if you hold an RRSP with CIBC).

Commissions

  • $6.95/trade for regular investors;
  • $4.95/trade for 150+ trades a quarter;
  • Free dividend reinvestment. However, they cannot purchase partial shares.

Real Time Quotes

  • They offer free real time quotes for both U.S and Canadian stocks. However, they do not offer real time charts (15 min delay).

Forex Exchange Rate

  • Their Forex rate is comparable to other big banks where they charge 0.90% each way. They do not offer wash trades like TD does.

What Needs Improvement

  • Even though they have a great pricing structure for traders, their web interface is really cumbersome and not responsive enough for quick trades. For example, after submitting a trade, they bring you to a confirmation screen that makes you re-type your password.
  • They NEED real time charts. If they want to be taken seriously in the trading world, they need to integrate this ASAP.
  • I would like to see more details on performance. Right now, they only show the “purchase price” in the RRSP accounts. In the regular non-registered account, they don’t show any “performance” metrics at all.

Final Thoughts

Subscribe
Notify of

This site uses Akismet to reduce spam. Learn how your comment data is processed.

28 Comments
Oldest
Newest
Inline Feedbacks
View all comments