Jump to main navigation Jump to main content. Last updated Saturday, Nov. Lower stock-trading costs are supposed to lure new customers to online investing and prompt existing clients to buy and sell more stocks and exchange-traded funds more often.

But we should expect brokers to hedge that bet on commissions by shoring up revenues in other ways. Here are some costs besides stock-trading commissions that were factored into the ranking. Your monthly or quarterly accounts statements should be available online as PDF files that are typically archived for seven years. If you want a hard copy, you can print it at home.

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Prefer to have your statements mailed to you? A growing number of brokers will charge you for this service. By all means, try fighting this fee if you want a paper statement. TD, for example, says it will waive the charge if a client has special needs that require accommodation.

Brokers used to have annual administration fees for small registered accounts, and leave cash accounts alone. Now, some have maintenance fees that apply to most account types TFSAs generally are the exclusion. If your firm does have account maintenance fees, check for ways to avoid them.

The last thing brokers want is for people to dump a small amount of cash in an account and not do anything with it. To discourage this, some have account inactivity fees that are charged on a quarterly basis. There are usually a few ways to avoid them — check with your broker.

At most brokerage firms, electronic communication network fees are charged only to clients who use platforms and services for active trading — up to and including day trading — rather than mainstream investing.

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One exception to this rule is Qtrade Investor, which was ranked No. Another is Questrade, an up-and-comer ranked fourth. Both of these firms may in some cases add ECN fees to regular commissions.

Check the details on ECN fees if you deal with these firms. Qtrade says these fees may be charged on trades of Canadian stocks where market orders or limit orders at the market price are used. Many firms have dropped all fees for buying and selling mutual funds, and that means you can buy pretty much any fund at all with no worries about commissions.

These funds, sold by companies like Leith Wheeler, Mawer and Steadyhand, can be smart choices for do-it-yourself investors who want access to professional portfolio managers. Aside from Questrade, brokers typically let you buy mainstream mutual funds at no cost.

Lending customers money to buy stocks on margin is a significant source of revenue for brokers. The standard rate among the big bank-owned firms is the prime rate, now at 3 per cent, plus 1. Rates can be higher at smaller independent firms, and clients with large accounts may pay less. One way to reduce forex fees is to buy TSX-listed ETFs that track U. Your invested dollars are converted into U. Follow Rob Carrick on Twitter: Canada's best and worst online brokers in How the brokers responded to this year's Online Broker survey.

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DIY investors fight a never-ending war on costs. Fees charged to receive a paper account statement Your monthly or quarterly accounts statements should be available online as PDF files that are typically archived for seven years. Account maintenance and inactivity fees Brokers used to have annual administration fees for small registered accounts, and leave cash accounts alone.

ECN fees At most brokerage firms, electronic communication network fees are charged only to clients who use platforms and services for active trading — up to and including day trading — rather than mainstream investing.

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Mutual fund buy and sell commissions Many firms have dropped all fees for buying and selling mutual funds, and that means you can buy pretty much any fund at all with no worries about commissions. Margin interest Lending customers money to buy stocks on margin is a significant source of revenue for brokers. Foreign exchange Another money maker. Admin fees shown here apply to standard registered retirement savings plans and registered retirement income funds. Some firms may charge a small annual admin fee for U.

Some firms may charge early redemption fees on mutual funds sold within 90 days of purchase. More Related to this Story Canada's best and worst online brokers in online broker comparison tables How the brokers responded to this year's Online Broker survey. Subscribe The Globe and Mail Newspaper Newspaper delivered to your doorstep. Globe Unlimited Digital all access pass across devices. Globe2Go The digital replica of our newspaper.

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