News Releases
BMO InvestorLine today announced that it is enhancing its offering for active traders and will be launching a new Active Trader Program that includes lower commission rates and more online services.
“BMO InvestorLine has been committed to helping investors achieve success, with a focus on servicing the needs of long-term investors through a guided investing approach,” said Connie Stefankiewicz, President and CEO of BMO InvestorLine. “While we'll always focus on the total portfolio needs of these investors, who make up the majority of our client base, we recognize that we must also continue to address the unique needs of our active trader clients.”
As of July 1, 2006, BMO InvestorLine clients who execute 30 trades or more per quarter through electronic channels (online or over the phone via the Automated Telephone Trading service) will pay $9.95 per trade. In addition, they will have access to an extensive online service package that includes:
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Level II quotes – real-time quotes of the bid and ask price that show the depth of the market
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Real-time quotes – immediate access to real-time trading information throughout the site
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Streaming quotes – real-time dynamic market data for portfolios as the market changes
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Real-time charting – real-time charts showing market movements and trends
Over the past few months, BMO InvestorLine surveyed its active trader clients to find out what is important to them and what services they need to be successful.
“Our active trader clients told us that it's not just about price – they want specific products and services, fast and efficient access, in addition to competitive pricing,” said Stefankiewicz. “We already have one of the fastest websites in the industry and the new commission rates and enhanced online service package for active traders addresses their needs and reflects BMO InvestorLine's commitment to help all of our clients be more successful investors.”
The new commission rates as of July 1, 2006 for active traders who make 30 trades or more per quarter through electronic channels are as follows:
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$9.95 flat rate on US Equities
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$9.95 flat rate on Canadian Equities with share price of $0.99 or less
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$9.95 flat rate on Canadian Equities with share price of $1 or more, up to 1,000 shares
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$0.01 / share on Canadian Equities with share price of $1 or more, and greater than 1,000 shares
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$9.95 $1.25 per contract for Options
Clients will qualify for these rates based on trading activities in their accounts over the previous three months.
BMO InvestorLine's clients with long-term investing needs will continue to receive the full guided investing experience, which includes all the tools and services they need to effectively plan, select and manage their investments, with professional support from BMO InvestorLine Representatives when needed at the current rate of $25.00 per trade for electronic channels.
BMO InvestorLine, ranked best online broker for five consecutive years*, is a member of the BMO Financial Group and part of the organization's Private Client Group. The Private Client Group provides integrated wealth management services in
* As ranked by The Globe and Mail, 2002, 2003, 2004, 2005 & February 4, 2006, by G�mez Canada Q1, Q3 2002 & Q2, Q4 2003 and by Watchfire G�mezPro, Q2 2004.
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