CIBC Investor’s Edge – 2021 Review

CIBC Investors’ Edge is a discount brokerage firm of the CIBC Bank, one of the largest banks in Canada.

CIBC’s discount brokerage platform offers both safety and convenience. One can trade both U.S. and Canadian stocks, options, Mutual Funds, ETFs, fixed income and money market investments.

It offers a powerful trading platform with user-friendly tools and features for a wide range of securities and it’s the cheapest platform of the big banks. 

For opening an account, you must be a Canadian resident and have your Social Insurance Number (SIN), CIBC bank transit and account numbers. CIBC is known for providing a high level of security regarding client information.

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CIBC Investor’s Edge Summary

Here is a summary to get you started, but there is a lot more information below if you want to get into the details.

Choosing a discount broker is a personal choice and the discount broker should satisfy your requirements. 

Hidden Sortwdt_IDFeaturesCIBC Investor's EdgeComments
11Stock Transaction Fee$6.95Represents 1% with a $700 trade.
22ETF Transaction Fee$6.95If ETFs is what you need, look for free trades at Qtrade
43Dual Currency AccountYesA must to build a growing portfolio. US holdings play a big role in my portfolio performance.
54Synthetic DRIPYesA must have with a dividend growth investing strategy.
65DRIP DiscountNoA must for any dividend investor.
78Access To ResearchYesFrom Morningstar and Thompson Reuters.
810Account Minimum$10,000 or $25,000It's relatively small.
911AccountsNon-Registered; RRSP; TFSA; RESP; RRIF; LIF; LIRAIt's all of them. Can't ask for more.
1012Mobile AppAvailable
313Real-Time QuotesYes, all investors

CIBC Investor’s Edge FAQ

Can I have the fees waived with CIBC Investor’s Edge?

There are no indications that any of the transaction fees can be waived. You can have your trading fee lowered to $4.95 from $6.95 if you are an active trader after 150 trades per quarter.

You can avoid the maintenance fee by having a minimum of $10,000 or $25,000 depending on the account you hold.

With $6.95 per trade, it’s the best discount broker option out of the big banks.

How do I deposit money into my CIBC Investor’s Edge?

Electronic Funds Transfer (EFT) is the simplest way to transfer money into your CIBC Investors’ Edge account from your banking account.

It’s pretty standard with all discount brokers now unless you have accounts at the institutions which makes it much easier.

How can I contact CIBC Investor’s Edge customer support?

By email or phone. The details are clearly outlined on their site.

Trading Costs

One can trade for as low as $6.95 per trade for Canadian and U.S. equities and ETFs.

An active trader can trade for $4.95 per trade if he/she makes more than 150 trades per quarter. For options trading, prices are $6.95 plus an additional $1.25 per contract for Canadian and U.S. options.

CIBC also offers special pricing for students. A student can trade for $5.95 per trade for equities and ETFs plus an additional $1.25 per contract for options trading.

Moreover, a minimum commission of $50 is applicable to all Canadian and U.S. orders placed by phone.

Accounts

CIBC Investor’s Edge provides registered accounts such as TFSA, RRSP, LIF, RESP. It also offers other registered and locked-in accounts, including:

  •  Registered Retirement Income Fund (RRIF)
  •  Locked-In Retirement Account (LIRA)
  •  Locked-In RSP (LRSP)
  •  Locked-In Retirement Income Fund (LRIF)
  •  Prescribed Retirement Income Fund (PRIF)

In addition, there are cash and margin accounts and other options like trusts, estates, and corporate accounts available.

The company charges an annual account fee of $100 for RRSP, RRIF, LIRA, LIF accounts, when the market balance of the client’s account is $25,000 or less.

Similarly, CIBC charges an annual account fee of $100 for non-registered accounts, when the market balance of the client’s account is $10,000 or less.

Usability

CIBC Investor’s Edge offers a simple dashboard and a user-friendly interface helping its clients to quickly review their accounts and track their progress.

A client can access its account from wherever. Its simple platform provides easy-to-use tools for all investors.

One can easily set up watch lists to monitor stocks and save their personalized screens.

Transactions

Similar to other discount brokers, the CIBC Investor’s Edge platform gives an option of trading in Canadian or U.S. dollars and there is no minimum deposit to begin tradin.

Clients can place market, limit, or stop-loss orders with a minimum transaction fee of $6.95.

The transaction fee of $6.95 beats all of the bank discount brokers but it’s still behind Questrade and Wealthsimple but it’s not much.

Performance Monitoring

A user can easily identify trends and analyze stock performance with interactive and customizable charts.

CIBC Investors’ Edge also provides tools like Technical Insight and Morning News Call from Thomson Reuters to stay updated about market movements.

Other tools include advanced charting, alerts, daily market reports, notifications, etc.

Mobile Capabilities

Yes, CIBC Investors’ Edge has mobile capabilities in the form of the CIBC Mobile Wealth App.

It is available for both iOS and Android versions. You can trade equities, view accounts, and get quotes on your phone or tablet from anywhere.

Investment Research

CIBC Investors’ Edge provides research and insights from industry leaders and leading experts at CIBC Capital Markets, CIBC Asset Management, and CIBC Private Wealth.

It also has a knowledge bank comprising videos, articles, and webinar replays for investors.

Other Investment research includes Morningstar Equity and ETF Research and Thomson Reuters Stock Reports.

Customer Service

You can contact CIBC Investors’ Edge by calling Monday to Friday between 8:00 am to 6:00 pm, email, or chat.

It also has Asian language services and provides assistance in Mandarin and Cantonese. Experienced investors also get exceptional client service.

Discount Brokers Available

While the easiest path to selecting a discount broker is to use the one affiliated with your bank, there are options available with different feature set and cost that may best fit your needs. Be sure to review all of your options.

 
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DISCLOSURE: Please note that I may have a position in one or many of the holdings listed. For a complete list of my holdings, please see my Dividend Portfolio.

DISCLAIMER: Please note that this blog post represents my opinion and not an advice/recommendation. I am not a financial adviser, I am not qualified to give financial advice. Before you buy any stocks/funds consult with a qualified financial planner. Make your investment decisions at your own risk – see my full disclaimer for more details.