Are you looking for a reliable and affordable online broker to trade stocks, ETFs, options, and more in Canada? If so, you might want to check out National Bank Direct Brokerage (NBDB), the self-directed investing arm of National Bank, one of the largest banks in the country.
In this National Bank Direct Brokerage review, we will show you why NBDB is a great choice for Canadian investors who want to enjoy commission-free trading, access to a variety of investment products, and a user-friendly platform with powerful research tools.
What is National Bank Direct Brokerage?
NBDB is an online discount broker that allows you to trade various securities on Canadian and US markets. You can open different types of accounts, such as cash, margin, TFSA, RRSP, RESP, RRIF, and more.
NBDB is part of National Bank Financial Inc., a subsidiary of National Bank of Canada, which has over 160 years of history and serves more than 2.5 million clients across the country.
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Why Choose National Bank Direct Brokerage?
There are many reasons to choose NBDB as your online broker, but here are some of the main ones:
Commission-Free Trading
NBDB is the first bank-owned brokerage in Canada to offer zero-commission trading for stocks and ETFs. That means you can buy and sell any Canadian or US stock or ETF without paying any fees, regardless of the number of shares or the frequency of your trades.
You can also trade options for $0 per trade, plus $1.25 per contract. This is a very competitive pricing compared to other online brokers in Canada.
Variety of Investment Products
NBDB gives you access to a wide range of investment products, including:
- Stocks
- ETFs
- Options
- Mutual funds
- Bonds
- GICs
- Exchange-traded debentures
- Linked notes
You can diversify your portfolio and invest in different asset classes, sectors, and regions with NBDB.
User-Friendly Platform
NBDB has a web-based platform that is easy to use and navigate. You can access real-time market data, set up alerts and watchlists, view news and analysis, and execute your trades with a few clicks.
NBDB also offers a mobile app that lets you trade on the go, as well as a desktop platform called National Bank Direct Brokerage Pro, which is designed for active traders who want more advanced features and tools.
Powerful Research Tools
NBDB provides you with various research tools and resources to help you make informed investment decisions. You can use Recognia, a leading provider of technical analysis and investment ideas, to get insights and recommendations based on your trading style and objectives.
You can also use the Portfolio Analytics tool to evaluate your portfolio’s performance, risk, and diversification, and compare it to different benchmarks and scenarios.
Additionally, you can access market reports, webinars, newsletters, and educational articles from NBDB and its partners.
How to Open an Account with National Bank Direct Brokerage?
Opening an account with NBDB is simple and fast. You can do it online in a few steps:
- Visit the NBDB website and click on “Open an account“.
- Choose the type of account you want to open and fill out the online application form.
- Upload your identity documents and sign the electronic agreements.
- Fund your account by transferring money from your bank account or another broker.
- Start trading!
If you are an existing National Bank customer, you can also open an account with NBDB through your online banking portal.
National Bank Direct Brokerage Review: Pros and Cons
Like any online broker, NBDB has its pros and cons. Here is a summary of them:
| Pros | Cons |
| $0 commission stock and ETF trades | $100 annual administration fee (waivable under certain conditions) |
| No minimum deposit | No fractional share trading |
| Multiple accounts and investment products | |
| Big bank owned | |
| User-friendly interface and mobile app | |
| Access to Recognia and Portfolio Analytics |
National Bank Direct Brokerage Review: Conclusion
NBDB is a solid online broker for Canadian investors who want to trade stocks, ETFs, options, and more without paying any commissions. It also offers a variety of investment products, a user-friendly platform, and powerful research tools.
If you are looking for a reliable and affordable online broker backed by a major bank, you should give NBDB a try. You can open an account with NBDB today and start trading for free.
FAQ’s
Q: What is National Bank Direct Brokerage?
A: National Bank Direct Brokerage (NBDB) is an online discount broker that allows you to trade various securities on Canadian and US markets without paying any commissions.
Q: How do I open an account with National Bank Direct Brokerage?
A: You can open an account with NBDB online in a few steps. You need to choose the type of account you want, fill out the application form, upload your identity documents, fund your account, and start trading.
Q: What are the benefits of choosing National Bank Direct Brokerage?
A: NBDB offers many benefits, such as commission-free trading, access to a variety of investment products, a user-friendly platform, and powerful research tools.
Q: What are the fees and charges of National Bank Direct Brokerage?
A: NBDB does not charge any commissions for trading stocks, ETFs, and options. However, there is a $100 annual administration fee for registered accounts, which can be waived if you meet certain conditions. There may also be other fees for certain transactions, such as currency conversion, wire transfers, and account transfers.
Q: What are the investment products available at National Bank Direct Brokerage?
A: NBDB gives you access to a wide range of investment products, including stocks, ETFs, options, mutual funds, bonds, GICs, exchange-traded debentures, and linked notes.
Q: What are the research tools and resources offered by National Bank Direct Brokerage?
A: NBDB provides you with various research tools and resources, such as Recognia, Portfolio Analytics, market reports, webinars, newsletters, and educational articles.
Q: How can I contact National Bank Direct Brokerage?
A: You can contact NBDB by phone, email, or chat. You can also visit their website or follow them on social media. Their contact information is available on their website.
Source: (1) National Bank Direct Brokerage Review 2023 – Savvy New Canadians. https://www.savvynewcanadians.com/national-bank-direct-brokerage-review/. (2) National Bank Direct Review 2023: Pros & Cons | Finder Canada. https://www.finder.com/ca/national-bank-direct-brokerage-review. (3) National Bank Direct Brokerage Review 2023 – No Trading Fees!. https://milliondollarjourney.com/national-bank-direct-brokerage-review.htm.