Scotia iTRADE: Review of online brokerage platform + Special offer

From November 17, 2025, to April 3, 2026, new clients who open a Scotia iTRADE account using the promotional code WIN26 and deposit funds into it will receive 1% cash back (up to $10,000). In addition, clients who open an account by December 12, 2025, will also receive 50 free trades.

Here’s how it works:

• Open an account by April 3, 2026, using promo code WIN26;
• Deposit the eligible* amount into the account by May 1^st, 2026;
• Keep the funds in your account until April 30, 2027;
• Receive 50 free trades (valid until June 1^st, 2026) if you open an account before December 12, 2025;
• Receive the cash bonus in two installments: November 30, 2026 (1^st installment) and May 30, 2027 (2^nd installment).

*A minimum deposit of $2,500 is required to be eligible for the bonus.

Finally, get a bonus when you deposit funds into a new Scotia iTRADE account from a Scotiabank account. Both offers can be combined, but the combined cash back amount cannot exceed $10,000.

The Scotia iTRADE trading platform offers several types of registered and non-registered accounts. There are also corporate accounts, trust accounts and estate accounts. Here are the main ones:

• Tax-Free Savings Account (TFSA)
• First Home Savings Account (FHSA)
• Individual or joint Registered Retirement Savings Plan (RRSP)
• Locked-in retirement account (LIRA)
• Registered Retirement Income Fund (RRIF)
• Life Income Fund (LIF)
• Registered Education Savings Plan (RESP)
• Registered Account in U.S. dollars (TFSA, RRSP, LIRA, RRIF, etc.)
• Non-registered accounts (cash and margin accounts) in Canadian or U.S. dollars

With these accounts, you can invest in a variety of financial products, including :

• Canadian and U.S. stocks
• Exchange Traded Funds (ETFs)
• Mutual funds
• Options
• Guaranteed Investment Certificates (GICs)
• Bonds and fixed-income securities
• New issues and initial public offerings (IPOs)

Commissions on trades:

• Stocks and ETFs: $9.99 per trade (or $4.99 per trade for active investors making 150 or more trades per quarter)
• Options: $9.99 + $1.25 per contract (or $4.99 + $1.25 per contract for active investors making 150 or more trades per quarter)
• Mutual funds: $9.99 per trade

However, you can take advantage of hundreds of commission-free ETFs, including some asset allocation ETFs.

In addition, you can obtain free transactions (stocks and ETFs) if you are a holder of certain Scotiabank accounts.

Administrative fees:

• TFSA: no fees
• FHSA: no fees
• RRSP/RRIF/LIRA/LIF: $100 per year (no fee if total assets in your registered and non-registered accounts are $25,000 or more, or if you make more than 12 commission-based transactions per year)
• RESP: $25 per year (no fee if total assets in your registered and non-registered accounts are $15,000 or more)

Other fees may apply.

You can open an account online or at a branch. Of course, you must be a Canadian resident and have reached the age of majority.

Here are the main steps:

1. Visit Scotia iTRADE website
2. Fill in the online form
3. Choose the type(s) of account to open
4. Provide your Social Insurance Number (SIN) and requested identification

The process takes about 15 minutes, after which it must be approved. Then you can fund your account and start investing.

Please note that to open an RESP, you must contact Scotia iTRADE by telephone.

Client service can be reached by phone, Monday to Friday (8 a.m. to 8 p.m. ET) at 1-888-TRADE88 (1-888-872-3388). Service is available in English and French.

You can also contact client service by e-mail at service@scotiaitrade.com (or openaccount@scotiaitrade.com to open an account).

Finally, by mail: Scotia iTRADE, PO Box 4002 Station A, Toronto, ON, M5W 0G4

For complex questions, you can make an appointment at a Scotiabank branch. For more information, click here.

Benefits:

• Trading platform supported by a major Canadian bank (Scotiabank)
• Wide choice of investment accounts and financial products
• Promotions (cash bonuses and free trades)
• Over 100 commission-free ETFs
• Integration of Scotia iTRADE and Scotiabank applications with single sign-on

Cons:

• Scotia iTRADE fees higher than other Canadian platforms: trading commissions and administration fees (waived under certain conditions)

In summary, Scotia iTRADE is a reliable trading platform for Canadian investors. It offers a wide range of registered and non-registered accounts and financial products: stocks, ETFs, options, mutual funds, and much more.

However, Scotia iTRADE fees can be a deterrent for investors with small portfolios. Therefore, we recommend evaluating whether the services offered justify the costs. Then, compare Scotia iTRADE with platforms without annual fees or trading fees.

In short, if you are looking for a platform backed by a major institution, Scotia iTRADE is certainly a good option. For more information, feel free to visit their website or contact their customer service: www.scotiaitrade.com.