Press Releases

National Bank Direct Brokerage Eliminates Commissions for All Exchange-traded Funds listed in the United States

Montreal, 31 August 2017 -
logo Commission-free Canadian and American ETFs

National Bank Direct Brokerage, a subsidiary of National Bank of Canada (TSX: NA) and a leader in online brokerage, has announced that its clients will now be able to carry out online trades of exchange-traded funds (ETFs) listed on a U.S. market with no commissions. A year after introducing commission-free trading on ETFs listed in Canada, NBDB is extending this pricing policy to US-listed ETFs to meet the needs of self-directed investors.


  • Currently, NBDB is the only Canadian online broker to offer commission-free trades on all ETFs listed on Canadian and U.S. stock markets.
  • There are no restrictions on the account size or number of trades when at least 100 units are being traded1.
  • The objective of this new pricing policy is to allow all investors, regardless of the size of their portfolios, to access an expanded market for ETFs, which replicate the performance of an index, a product or a group of stocks.


"With this unique pricing policy, NBDB is making yet another major change to the online brokerage landscape and continuing to make self-directed investing even more accessible. Our team is very proud to be at the forefront," stated Laurent Blanchard, President of National Bank Direct Brokerage.

"More than ever, our aim is to innovate to meet the needs of self-directed investors. It's our priority and today's announcement is tangible proof. By saving on commissions, our clients will be able to build their portfolios and grow their wealth. This change benefits all types of investors," continued Mr. Blanchard.

1 To be exempt from commission fees, clients must also sign up to NBDB’s Online Documents Service to receive all their documents electronically (e-delivery).

About National Bank Direct Brokerage
National Bank Direct Brokerage is a trademark of National Bank Direct Brokerage, a wholly owned subsidiary of National Bank of Canada. National Bank Direct Brokerage offers no advice and makes no investment recommendations. The client alone is responsible for the financial and tax consequences of his or her investment decisions. National Bank Direct Brokerage is a member of the Canadian Investor Protection Fund.

About National Bank of Canada
With $240 billion in assets as at July 31, 2017, National Bank of Canada, together with its subsidiaries, forms one of Canada’s leading integrated financial groups. The Bank has more than 21,000 employees and is widely recognized as a top employer. The Bank's securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities at or via social media such as Facebook, LinkedIn and Twitter

For more information:
Jean-François Cadieux
Senior Manager - Public Affairs
National Bank
Tel.: 514-394-6500

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