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Learning, Sharing, and Teaching => Investor Alley => Topic started by: Heckler on December 13, 2014, 10:41:25 AM

Title: Another "what's in it for them?" - BMO Investorline
Post by: Heckler on December 13, 2014, 10:41:25 AM
Re my BMO investorline fees.

https://www.bmoinvestorline.com/selfDirected/pdfs/FeeSchedule_EN_May.pdf

I've been paying $9.95 per trade as per the flat fee commission rate for web based orders, as expected.

I can understand them charging $35+ for a trade placed through a human.

What I don't understand is why they also have a $29 regular commission schedule for web or phone trading - isn't the web fee $9.95???

I just don't want to get fleeced a year or ten from now. What am I missing?





And yes, I know there are cheaper options available but I prefer to keep my long term funds in a long term company, not an internet startup.
Title: Re: Another "what's in it for them?" - BMO Investorline
Post by: RyeWhiskey on December 14, 2014, 03:30:35 PM
That fee schedule is obscene. Switch to Vanguard, Schwab, TDAmeritrade, Fidelity... All these are fine choices and none are "internet startups".
Title: Re: Another "what's in it for them?" - BMO Investorline
Post by: FI40 on December 14, 2014, 04:13:34 PM
Questrade allows commission-free buying of ETFs. Questrade is insured (http://help.questrade.com/how-to/frequently-asked-questions-%28faqs%29/opening-an-account/is-questrade-insured-#.VI4ZCSvF-68), if that helps.
Title: Re: Another "what's in it for them?" - BMO Investorline
Post by: Heckler on December 14, 2014, 08:14:09 PM
Cheers Cathy.  I was expecting the comments from my friends south if the 49th. That's ok.
Title: Re: Another "what's in it for them?" - BMO Investorline
Post by: RichMoose on December 16, 2014, 06:40:08 AM
The $29 is still the regular commission. $9.95 is a new, low price program for online traders only. Basically this means they do not have to honor the lower fees for people who call in trade orders and stuff.