What Is CIBC Investor’s Edge?
CIBC has been around for over a century, which proves it has some serious staying power. If you already bank with CIBC, you’ll find it very easy and convenient to open CIBC Investor’s Edge cash account, TFSA, RRSP or RESP.
Something that makes CIBC unique is that it also offers investors the chance to trade Canadian Depository Receipts (CDRs) on Cboe Canada (formerly NEO Exchange). This means that Canadians can invest Canadian Dollars in companies like Amazon, Netflix and Tesla without shelling out the full price for a single stock or having to convert their money to USD first. This can be a big boon for those interested in investing in US large cap and blue chip stocks.
While there are some clear advantages of having a CIBC Investor’s Edge account. The fees are still relatively high compared to the number of banks offering low-to-no-fee trades, such as Qtrade, Questrade and Wealthsimple.
CIBC Investor’s Edge Trading Fees and Commissions
CIBC Investor’s Edge trading platform is not only competitive with the other big bank brokerages in Canada, they are significantly cheaper when it comes to daily trading fees. If you meet the active trader threshold of 150 trades per quarter, you’ll pay only $4.95 per trade.
Last year, CIBC Investor’s Edge made a big move by slashing their stock and ETF trading fees to $0 for young investors under 25. This is for both Canadian and US stock trades. To make it even more attractive for young investors, they have also waived their annual account maintenance fee.
For traders 25 and older, CIBC Investor’s Edge doesn’t quite match low-cost leaders (non-bank brokerage firms) like Questrade, Qtrade and Wealthsimple Trade, CIBC’s online discount brokerage beats all the other big bank brokerages when it comes to trading fees.
Account and Transaction Fees
Like the other major banks CIBC Investor’s Edge has no account minimum in place; however, they will not hesitate to charge a fairly substantial fee if you do not meet their account minimum threshold.
If your RRSP account has a balance under $25,000, you’ll pay $100 annually. However, you won’t pay any fees if the market balance of your account is greater than $25,000.
If your basic non-registered account is below $10,000, then you’ll owe an annual $100 fee as well. Again, this fee is waived if your balance is greater than $10,000 or if you also have a retirement account with CIBC.
The good news is that the TFSA and RESP are completely free to open and trade in, no matter what your balance is. Additionally, the CIBC Smart™ Account for students is free, and might be the best deal out there for students who want to get started with investing.
Below is a quick chart of the more common CIBC Investor’s Edge account fees that you might run into.
| Transfer Out | $135 |
| RRSP Withdrawals | $50 |
| TFSA Withdrawals | $0 |
| Home Buyers Plan & Life Long Plan Withdrawals | $50 |
| Copies of Statements, Confirms, Cheques and Tax Receipts | $5 |
| Certificate Registration | $50 |
| Wire fee (out) | $40 |
| Wire fee (in) | Free |
| Estate Account Processing | $100 per account |
CIBC Investor’s Edge ETF Fees
The point of investing is to make money, which is why not having to pay to trade is such an advantage.
As you will see below, CIBC Investor’s Edge charges $6.95 to buy and sell ETFs. Even at a modest 4 trades per quarter, that’s thousands of dollars lost to fees over several decades. Why flush that money when you could pay nothing in fees and instead make thousands more on your investments?
With our top recommended brokerage, Qtrade, you get so much more. Qtrade’s unique features, educational content and variety of platforms, plus zero cost ETF trades make it a clear winner when comparing Canadian online brokerages.
Options Trading Fees
If options trading is your thing, Investor’s Edge is definitely competitive in this arena. Their $6.95 rate continues to shine vs leading competitors at TD and RBC. There is also the standard $1.25 per contract fee added on. The rate goes down to $4.95 (matching the Scotia iTrade rate) if you hit active trader status.
CIBC Investor’s Edge Account Types: TFSA, RRSP, Non-Registered
The wide variety of both registered and non-registered accounts available with Investor’s Edge, stacks up well against what any other discount broker brings to the table. You should expect no less from such a large-scale Canadian corporation!
- Non-registered accounts
- Margin Accounts
- RRSP
- TFSA
- RESP
- RRIF
- LIF
- LIRA
- Informal Trust
- Investment Club
- Trust or Estate
CIBC Investor’s Edge Mobile App Review
The Investor’s Edge mobile app is called the CIBC Mobile Wealth app on both the Google Play and Apple App stores.
The CIBC Investor’s Edge mobile app provides users with a convenient way to monitor account balances and trade stocks, ETFs and options anytime, from anywhere. Users can also stay updated on important investment news, such as new IPOs, so they can jump on new opportunities as they happen.
Users will also have access to graphs and charts to help them analyze their entire portfolio in one easy to read view, or look at different investment accounts separately. By taking the time to check on your portfolio regularly, investors always know how their investments are doing, and make a change if needed. With CIBC’s stock app, investors can conveniently buy and sell whenever they wish.
In the past, the app had a bit of a bad reputation due to poor user experience and slow speed. However, CIBC addressed the issues and continues to update and improve the app. This has led to higher customer satisfaction, with an overall 3.6 star rating from over 5.5K reviews on the App Store and a 3.5 on the Google Play store.
The app has over 100,000 downloads, which is another sign that it’s growing in popularity and trust. Want to find out more about other mobile trading apps? Head over to our best stock trading app page to find out more about other options that allow you to trade easily from your mobile device.
CIBC Platform and Tools
CIBC Investor’s Edge has recently updated its mobile and desktop platforms, with its website getting a much needed refresh as well. The enhanced design allows users to more easily access tools, make trades, or do a bit of research. They have also added enhanced accessibility features for those who need it.
Like most online platforms, CIBC Investor’s Edge provides tools to help investors research, strategize, and execute, helping them make well-informed decisions for their financial futures.
Some of the tools include insights from CIBC World Markets Inc., access to Trading Central, which offers technical analysis resources, and advanced charting tools to help you predict when the best time for a future trade might be.
Users will also have access to a wide range of other research tools, as well as the ability to build their own watch lists and alerts.
CIBC Investor’s Edge Customer Service
Unfortunately, judging by the comments on our articles, as well as the emails we receive each month, it appears that CIBC Investor’s Edge has taken a bit of a hit over the years. This reality is backed up by third party broker ratings as well.
Notably, Investor’s Edge does offer Mandarin and Cantonese customer support through its Asian trading desk.
CIBC really has to up its game when it comes to the usability of its platform and customer service responses if it wants to compete with the top online brokers in Canada.
Comparing CIBC Investor’s Edge With Canada’s Best Broker
Our readers often ask us how CIBC Investor’s Edge compares to Qtrade. Yes, Qtrade is one of Canada’s most popular brokers, but CIBC also has its perks. Check out the table for a side by side comparison of the two, which can help you decide which broker is right for you.
 |
 |
|
|---|---|---|
| Canadian ETFs | Free to buy and sell | $6.95 per trade |
| User Experience | Excellent – consistently ranked #1 in Canada. Built for Canadian users exclusively. | Average. Customer service can be difficult to reach, and there have been complaints about order processing times. |
| Stocks | 100% FREE to trade | |
| Safety | CIPF Member | CIPF and IIROC Member |
| RESP Accounts | Available | Available |
| Research Tools | Has been at the top of Canadian brokerage ranking in this category for over a decade. | Wide range of tools as well as education platform CIBC Learn. |
| promotion | 10% Cash Back + Unlimited Free Trades | None |
| Sign Up | Visit Qtrade | Visit CIBC Investor’s Edge |
With its next to nothing fees, excellent customer service and access to stellar Morningstar research tools, Qtrade is the clear winner here.
CIBC Investors Edge Review Frequently Asked Questions
CIBC Investor’s Edge Review – Final Thoughts
Compared to other Big 5 Banks, CIBC Investor’s Edge is unique in that it can save you a bit of money and provides a unique offering of fractional shares with its CDR offering.
However, unless you already bank with CIBC and are committed to having only one place for all your financial needs, there are better options.
Today’s savvy investor knows that customer service, low fees, a variety of options and convenience all matter. That’s why online brokerages like Qtrade and Questrade are winning over Canadian investors who know they can have it all, and pay less for it.
To compare CIBC Investor’s Edge to our top recommendations, as well as other online Canadian brokerages, check out our full run down of the best Canadian online brokers.