Author Topic: Another "what's in it for them?" - BMO Investorline  (Read 1728 times)

Heckler

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Another "what's in it for them?" - BMO Investorline
« 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.
« Last Edit: December 13, 2014, 10:47:35 AM by Heckler »

RyeWhiskey

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Re: Another "what's in it for them?" - BMO Investorline
« Reply #1 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".

FI40

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Re: Another "what's in it for them?" - BMO Investorline
« Reply #2 on: December 14, 2014, 04:13:34 PM »
Questrade allows commission-free buying of ETFs. Questrade is insured, if that helps.

Heckler

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Re: Another "what's in it for them?" - BMO Investorline
« Reply #3 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.

RichMoose

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Re: Another "what's in it for them?" - BMO Investorline
« Reply #4 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.