This CIBC Investor’s Edge review contains all you need to know about the discount broker of one of Canada’s biggest banks. As an investor, you’d need a broker that allows you to manage your investment your way. However, why is CIBC a good option?
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Last Updated: Sep 25, 2023
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CIBC, a significant Canadian bank, owns and operates this discount brokerage. It offers consumers various accounts and investment options, online and mobile trading, with free research and analysis tools.
This broker charges $6.95 for online stock and ETF trades, making it a terrific alternative for investors searching for low trading fees at a big bank.
CIBC can come in handy if you need help managing your investments or want access to more than just stocks. However, you should know what you’re getting into before opening an account.
This complete CIBC Investor’s Edge review will tell you everything you need to know. It covers trading fees and commissions to account types, platforms, and tools.
It’ll also help you form a clear picture of how the company works and whether or not CIBC Investor’s Edge is the best brokerage for you.
If you’re considering investing with this broker, you’ll want to know what sets them apart from the rest. This section of our CIBC Investor’s Edge review will highlight the perks that make it a good option.
CIBC has a unique distinction in that it was the first to introduce depository receipts to Canada (CDRs).
They offer various options for saving and investing money, including cash accounts, TFSAs, RRSPs, and RESP. In addition to stocks and ETFs, you can invest in mutual funds and bonds through this platform. You can even buy fractional shares of Amazon and Tesla using the Neo Exchange platform.
Furthermore, using the CDR means you won’t have to convert your currency to USD to complete such a purchase. With this brief insight into the organizational background, let’s now look at the reasons why CIBC investment Edge is a great choice:
CIBC’s user-friendly platform makes trading accessible to novice and expert investors alike. Plus, you don’t have to pay anything to get started. The registration procedure is relatively simple; provide identification and deposit funds into your trading account to begin trading.
Customers of the Canadian Bank CIBC can now become self-directed investors thanks to the advent of CIBC Investor’s Edge. Their freshly revamped website, low-cost stock, and ETF trading have elevated it to the top tier of Canada’s best trading platforms.
Clients can trade options, stocks, mutual funds, ETFs, and more online or through a mobile app. Let’s take a look into what the CIBC Investor’s Edge platform has to offer:
The CIBC Investor’s Edge user interface is simple, intuitive, and easy to navigate. The platform offers a user-friendly interface with an attractive colour scheme and an excellent flow to the layout. Using the top navigation bar, you may access all of your account’s essential features and sub-navigation bars that appear when you hover over them.
Furthermore, you can keep up with the markets using a comprehensive research library and set up alerts to monitor equities. This gives you real-time information on prices from the stock exchange. Existing CBIC customers can link their bank accounts to this platform for quick transactions.
Because of the safety and dependability that comes with CIBC, both short-term and long-term investors can use this platform.
Available on Google Play and Apple App stores as CIBC Mobile Wealth, the app allows you to monitor and trade accounts anywhere. With this app, you can follow important investment news, such as new IPOs, to seize new chances.
It also gives you access to graphs and charts to assess your entire portfolio or different investment accounts. In turn, this enables you to make changes if necessary. You can also purchase and sell stocks through CIBC’s app.
Furthermore, customers have downloaded the app over 100,000 times, which shows the app’s popularity and trustworthiness. Although poor user experience and slow speed formerly hurt the app’s reputation, the new update has improved user satisfaction. Currently, the app has a 3.5-star rating from over 4,000 App Store reviews and a 3.2 on Google Play.
CIBC Investor’s Edge offers a variety of resources to help investors research, plan, and execute so they may make informed financial decisions. With the new updates on CIBC Investor’s Edge’s mobile app and website, it’s now easier for people to use these tools, trade, or conduct studies thanks to these tools:
In general, it’s a well-rounded collection of research and analysis tools that anyone can use. In addition, users can create their watch lists and alerts and use a wide range of other research tools.
Pricing is a crucial metric to consider. And this CIBC Investor’s Edge review would not be complete without examining the service’s pricing.
This trading platform is lower than other big bank brokerages in Canada for daily trading costs and stock and ETF transactions. Investor’s Edge costs $6.95 for each online stock and ETF trade in Canada and doesn’t charge TFSA or RESP fees. However, it charges $100 per year for RRSPs with balances under $25,000 but waives the fee for balances over $25,000.
Non-registered accounts with balances under $10,000 cost $100 per year. CBIC Investor’s Edge allows students to trade stocks and ETFs for a penny. Furthermore, the minimum balance requirement does not apply to students or young investors who receive special pricing.
In addition, students who have a CIBC Smart TM Account can trade online for $5.95 per transaction. If your quarterly trade exceeds 150, you will qualify for “Active Trader” pricing to pay $4.95 per online equity trade.
This section of our CIBC Investor’s Edge review highlights the Pros and Cons of using this broker. As a result, its content provides valid information to help you decide whether or not you should use its services.
|Pros of CIBC Investor’s Edge||Cons of CIBC Investor’s Edge|
|+ Low trading fees|
+ No minimum investment
+ Students get a discount
+ Active traders get a discount
+ Free research, tools, and advice
|– Annual fees for low balance|
– Per transaction fees
We’ll start with the pros in this section of our CIBC Investor’s Edge review. These are some of the things you stand to benefit from this broker if you eventually decide to invest or trade with them:
They charge $6.95 for each trade, which is significantly less expensive than the fees charged by other large bank trading platforms. In the long term, you can save a substantial amount of money here.
Furthermore, CIBC Investor’s Edge can waive a $100 annual charge if you have more than $25,000 in your registered trading account(s). Non-registered accounts with balances of more than $10,000 are exempt from the $100 yearly fee.
No minimum investment is required, so you can start with any amount you like. This is an excellent resource if you’re beginning to learn about trading and investments.
CIBC Investor-Edge offers a student account with $1 off every trade, exclusively to students. This program makes it easier to learn about the stock market. In addition to the $5.95 per transaction discount for students, CIBC Smart Accounts for trading are free for students.
If you trade more than 150 times in a quarter, you can become an “active trader.” As such, you get fees up to $4.95 per trade, which is affordable. This is still a lot compared to other options, but it can save you a lot of money over a year.
CIBC Investor’s Edge hosts various research, tools, and educational resources. They even lead you through the process of opening an account, depositing funds, and making your first trade. Advisors are available by phone, chat, and email if you need help.
Furthermore, there are as many as 20 watch lists to keep an eye on your investments. You can access comprehensive charting to keep an eye on numerous market indicators. So you don’t miss an opportunity, you can toggle on notifications for price movements and changes in investments that you track.
While the above features make the broker stand out from its competitors, here are some of its shortcomings we found when researching for our CIBC investor’s edge review:
RRSP and RESP accounts with a balance of less than $25,000 are subject to a $100 annual fee. For non-registered accounts, you’ll be charged the exact cost if your credit is less than $10,000. Because of this, CIBC Investor’s Edge isn’t a good option for people just starting investing or those with limited capital.
Low costs of $4.95 to $6.95 might quickly pile up over time. For example, an “active trader” who makes 150 ETF trades pays close to $3,000 worth of fees yearly.
CIBC Investor-Edge does not have a desktop platform but has a mobile and web version. Investors must have a desktop platform because it generally delivers more information, capability, and productivity.
CIBC Investor-Edge isn’t a great place to learn to trade for new traders. To use this platform, you must either know how to trade or be able to learn while doing so. They do not offer risk-free, real-time learning chances like other brokers.
CIBC Investor Service can help you achieve all your goals with the right combination of investment products and services. This section of our CIBC Investor’s Edge review highlights the account and investment options available on the platform.
Being one of Canada’s biggest banks, it’s no surprise that CIBC Investor edge offers various account options. Regardless of your financial status or interests, you may find an option that meets your needs. The account and opportunities provided by CIBC include:
Tax-Free Savings Accounts allow you to invest without paying tax on capital gains, dividends, or interest. There’s no annual administration cost, so you may maximize your savings. Once you open a TFSA account, you can start saving by making contributions.
The contribution room is based on the TFSA cash limit and grows yearly, even if you don’t submit an income tax return. You can set up a Regular Investment Plan to automatically deduct TFSA payments from your bank account. Also, unused contribution room from past years is carried forward.
There are some restrictions on tax-free withdrawals. If you remove money, it’s added to your contribution room the following year unless you did so to remedy an overpayment. With a CIBC Investor’s Edge TFSA, you can invest in stocks, ETFs, options, mutual funds, bonds, and more.
CIBC Investor’s Edge offers you resources and assistance to increase your RRSP retirement savings. Through tax-deductible donations, this account lowers your taxable income. Additionally, you can borrow money from your RRSP to help you buy your first home or pay for your schooling.
Furthermore, this helps you avoid paying taxes on the development of your investments.
RESPs are tax-advantaged savings vehicles for future post-secondary education expenses of your children. To help you decide, CIBC Investment Edge offers you two options: individual and family plans.
An individual plan can cater to only one beneficiary, and the account holder does not need to be a family member. When it comes to setting up a family plan, however, only those who are related to the holder can benefit.
The money you put into an RESP grows tax-free until you take it out. The beneficiary must pay taxes on account earnings and government funds taken for school expenditures. However, each recipient is limited to a $ 50,000-lifetime contribution.
Suppose you are an investor looking to maximize profits. In that case, CIBC Investor’s Edge also provides investment options to help grow your money. Depending on your preference, you can add any of these investment options to your portfolio:
Purchasing stock (also known as equity) entitles you to a share of a company’s profits. A wide selection of sectors, industries, nations, and asset classes are available through CIBC Investor’s Edge. You may be able to profit from dividends and capital gains by investing in stocks.
Unlike mutual funds, ETFs can be bought and sold like stocks. Compared to mutual funds, ETFs are a more affordable option for investors. Investing in an ETF is made simple with CIBC Investor’s Edge.
Options are best suited to seasoned and knowledgeable traders. With CIBC Investor’s Edge, you may be able to profit from stock price volatility. Different options methods can help you secure market gains, guard against losses and earn money.
In a mutual fund’s portfolio, you can find many companies, sectors, asset classes, geographic regions, and currencies. To meet your investment needs, CIBC Investor-Edge offers a comprehensive selection of mutual funds.
Fixed-income assets are stable and predictable. CIBC Investor’s Edge offers a wide range of fixed income options, including corporate bonds, strip bonds, and asset-backed securities. Each asset has its unique characteristics, risk ratings, and terms.
One of the best ways to take advantage of market expansion is by investing in structured notes. Bond-like protection is also available on some notes. As an alternative to traditional fixed-income investments, they provide investors with diversified exposure to various asset classes and market-linked returns.
Initial public offerings are a great way to invest capital from large institutional investors, private equity firms, and venture capital funds. Using CIBC Investor’s Edge, you can harness the benefits of this investment opportunity.
Investing in a GIC with CIBC Investor’s Edge is risk-free since your money is safeguarded. Your initial investment plus interest or asset-linked returns for MLGICs are yours for a predetermined time. Short-term and long-term maturity dates are also options.
Diversifying your investment portfolio is easier with Precious Metal e-Certificates from CIBC Investor’s Edge! Many people prefer electronic certificates to gold and silver bars since they don’t have to worry about storing or protecting precious metals. Your RRSP, RESP, TFSA, and RRIF accept gold and silver e-certificates.
Now that you are familiar with the products and services rendered by this broker, you must know the quality they offer. This part of our CIBC investor’s edge review highlights starting with how secure your investment is on the platform.
The client’s financial situation, risk tolerance, investment time horizon, and financial goals are assessed. This is done during the “knowing your client” phase of registration. As a security major, CIBC Investor’s Edge brokerage account can’t be opened unless you have completed this phase.
Additional coverage is provided by the Canadian Investor Protection Fund (CIPF). CIBC Investor’s Edge is a CIPF member business, implying that your account is protected by $1,000,000 in the case of the broker’s collapse.
But keep in mind that CIPF does not cover losses resulting from changes in the market price of securities you own or from unfavourable market conditions.
You can chat with us online Monday through Friday from 9 am to 6 pm Eastern Standard Time (ET). You can access customer service by email and mail. In addition, CIBC Investor’s Edge offers phone help to its customers from 8 am to 8 pm Eastern Standard Time.
CIBC Investor’s Edge’s Asian trading desk has a toll-free number for Mandarin and Cantonese support. They also offer English and French support. It’s possible to authenticate your identification over the phone by entering your CIBC Investor’s Edge user ID and password.
At this point, you might be interested in opening an account with CIBC Investor’s Edge. In that case, we’ve added a step-by-step guide in this CIBC Investor’s Edge review on how to open and fund an account.
CIBC Investor’s Edge accounts are only available to Canadian residents with Social Insurance numbers. To register for online and mobile brokerage services, you can follow these simple steps:
On the CIBC Investor’s Edge website, enter your name, contact info, birth date, and SIN. You must also provide your assets, liabilities, and the sort of account you intend to open. Next, create a username and password.
Submit your application after you’ve reviewed and accepted the electronic access agreement. Please wait for CIBC to evaluate it. If CIBC is processing many applications, this may take some time.
Load your account with money once you’ve been verified and your application has been authorized so you can begin trading. To examine and accept all Exchange Agreements for real-time quotations, market research, and mobile access, select Quotes and Research.
There is no need to re-register if you already have a CIBC Investor’s Edge account. Once you’ve logged in, select Link Brokerage Accounts under Preferences to link new accounts to your existing User ID. Complete all fields as you filled them out on your account application.
You must already have a CIBC Investor’s Edge account to use online and mobile brokerage services. You don’t have to re-register for online access if you’ve previously opened a CIBC Investor’s Edge account.
Once you’ve logged in, select Link Brokerage Accounts under Preferences to link new accounts to your existing User ID. Re-enter your account information exactly as it appeared when you applied for the account.
If you feel CIBC Investor-Edge doesn’t suit meets your specs, there are other options you can choose from. We’ve included some alternatives you could consider in this CIBC investor’s edge review:
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Qtrade is an online brokerage that allows you to make investments into products such as Exchange-Traded Funds (ETF), bonds, stocks, options, etc. Trading on Qtrade requires choosing an investment account with relatively high commission fees.
While you can enjoy access to many portfolio management tools, you may need to pay an account maintenance fee (waived if conditions met). Qtrade offers many comprehensive tools to help you manage your investment portfolio. The Qtrade tools allow you to invest with confidence after taking appropriate risk-management efforts.
Unlike other online brokers specializing in a few financial products, Qtrade offers many options. You could go for ETFs if that’s your thing or choose bonds or stocks. If you’re interested in trading with mutual funds, options, new issues, or Guaranteed Investment Certificates (GICs), Qtrade has you covered.
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Questrade has been serving Canadians for more than two decades. Since 1999, the Toronto-based online brokerage has offered various financial solutions to help Canadians manage their finances.
Questrade is a great trading platform for investors since it provides both registered and non-registered trading accounts. It also offers stocks, ETFs, bonds, mutual funds, precious metals, foreign currency, GICs, and options.
Questrade’s discount brokerage costs are among the lowest in the current market. A minimum commission of $4.99 is required for Canadians to trade shares at one penny per share. Thanks to Questrade’s mobile app and three desktop trading platforms, customers may make trading decisions independently.
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Wealthsimple is one of the first and most successful Canadian automated investment advisory organizations and an excellent CIBC alternative. It currently offers commission-free online stock trading. The price structure of Wealthsimple Trade is unique in this market.
Wealthsimple, in contrast to most trading platforms, does not impose a transaction fee of any kind. The firm claims to offer this service because it doesn’t have to pay significant bank overhead fees. Wealthsimple trade requires no minimum investment or use of other products.
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While most Canadian investors prefer RRSPs or TFSAs, BMO InvestorLine has tools for individuals of all levels. There is no account minimum for trades, and there is a flat fee of $9.95 for each transaction.
BMO InvestorLine’s AdviceDirect function sets it apart from its competitors. Users can receive personalized counselling using machine and human methods for a minimum investment of $50,000 and an annual charge of $750.
A professional financial advisor is available by phone to answer questions and assist AdviceDirect members during the initial setup process. In addition, annual subscriptions provide 30 trades every month, rather than paying per trade.
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In Canada, Scotia iTrade is one of the best and most user-friendly trading systems. New Canadians and young investors under 26 can save $200 per year with Scotiabank’s StartRight program. Scotia iTrade allows you to open a risk-free practice account before you start trading online.
Trades cost $9.99 a piece after opening a real Scotia iTrade account. New customers who invest $5,000 can get $25 cash back or ten free trades. Investors who have invested $250,000 and $1 million with Scotia iTrade’s iClub can get gold and platinum memberships.
Priority service waived administration costs, and preferential pricing on trades is provided to account holders.
TD Direct Investments offers some of the most powerful trading tools available today. Web and mobile apps from TD Direct Investing feature a customizable dashboard, advanced order types, and basic market information. Furthermore, this tier’s trades cost $9.99 per transaction.
TD Direct Investing’s comprehensive dashboard provides live market data and detailed market analysis. Customers who make 30 trades or more in a quarter get free advanced dashboard features, and those who make 150 or more get $7 per trade.
From this CIBC Investor’s Edge review, it’s evident that the broker has set itself apart from other large Canadian banks by cutting fees for young investors. Canadian investors and traders benefit from CIBC Investor’s Edge’s cheap commissions, simple trading interface, and vast asset class selection.
Charting capabilities are included in the CIBC Investor’s Edge trading platform, which is highly advanced. Research materials provided by the broker and third parties are also excellent. There is an annual cost, but the benefits of utilizing this high-quality broker much outweigh any negatives.
It’s also one of the few brokerages in Canada that offers fractional shares. Investor’s Edge is a good alternative for those who prefer to manage their investments, especially if they already bank with CIBC.
However, compared to cheap Canadian brokerages like Qtrade and Wealthsimple Trade, the costs for typical investors over the age of 24 remain expensive. As fees fall, you’ll be able to put more money toward your long-term financial goals. Therefore, you should keep this in mind while choosing a brokerage. Thanks for checking out our CIBC Investor’s Edge review!
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There is no charge for an annual fee associated with TFSAs or RESPs held through CIBC Investor's Edge. When an RRSP balance is over $25,000, no fee is charged, but less than $25,000 incurs a $100 annual fee. For non-registered accounts, the annual cost is $100 if the balance is less than $10,000.
Perhaps you don't have a registered retirement account or have a balance of at least $10,000. In this instance, you can avoid paying the $100 annual maintenance cost imposed on non-registered accounts. A minimum balance of $25,000 is required to avoid paying the $100 yearly administration charge on registered retirement funds. Student traders receive a $1 discount, while active traders receive a $2 discount.
It is possible to borrow against your investments to buy more securities with borrowed money in a margin account. Your earnings or losses will be magnified by a margin account, which also increases your risk. In a way, it's like a credit card, but you'll pay interest on the amount you borrow.
Investor's Edge is not advised as a day trading platform because it was not designed for this purpose. Day trading has its own set of rules and parameters. Technical problems on the platform would hurt day traders who need to purchase and sell quickly.
Consider fingerprint or facial recognition on your smartphone. You can use your voiceprint to identify you instead of remembering a password when you call CIBC Investor's Edge. As part of their biometrics system, CIBC can capture your voice and use it as a password.
CIBC Investor’s Edge accounts are secured by a cyber safety team and the Canadian Investment Protection Fund (CIPF) for up to $1 Million in certain account types. The Canadian financial system protects investors from fraud and crime, and CIBC can afford the best. However, fraud-free doesn't mean your money is "safe" against a market downturn. No one can shield you from inherent investing risk.
You can set up your Face ID or Touch ID on the mobile app by following these steps:
You'll see the Account Information option as the default when you first log in. If you want to send money, all you have to do is select Cash Transfers. You'll be able to select the bank account from which you want to send the funds from this screen. Select the account you want to send your funds to if you have numerous accounts. You may enter the amount and check to see whether everything is correct as soon as you've done that. Lastly, I'll type in my trade password and press the Send button.
Suppose you're a self-directed investor who wants to keep your money in a large bank. In that case, CIBC Investor's Edge is an excellent option. At $6.95 per online trade for stocks and ETFs, CIBC Investor's Edge offers the lowest trading fees among all big bank brokerages. Furthermore, the platform's new website has a more contemporary look and feel, which appreciates the user's experience. Investor’s Edge is for you if you are an existing CIBC bank customer who wishes to take control of your financial future.
You can access all your accounts under one user ID with these steps:
CIBC chequing account holders can set up automatic transfers. While those with accounts at other financial institutions can link their accounts. It is possible to set up pre-authorized debits in your investing account so that you can make regular deposits there. You can also use a check to deposit into your account.