Another "what's in it for them?" - BMO Investorline

[Heckler]

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.

[RyeWhiskey]

That fee schedule is obscene. Switch to Vanguard, Schwab, TDAmeritrade, Fidelity... All these are fine choices and none are "internet startups".

[FI40]

Questrade allows commission-free buying of ETFs. Questrade is insured, if that helps.

[Heckler]

Cheers Cathy.  I was expecting the comments from my friends south if the 49th. That's ok.

[RichMoose]

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.