Desjardins online brokerage, want to switch to another brokerage with zero percent fees?
In today’s article, I present Desjardins Online Brokerage.
For knowing if this platform is right for you, you should read this article till the end.
Article Contents
- What is Desjardins online brokerage?
- What type of account does Desjardins offer?
- What type of platform does Desjardins have?
- Who is this brokerage For?
- Desjardins Online Brokerage Review: Fees and Pricing
- What are Desjardins Online Brokerage fees?
- The Cons of Disnat
What is Desjardins online brokerage?
Also known as Disnat is an online platform for buying, selling, and holding investments. It’s a full-service brokerage for self-directed investors.
Desjardins Group is a Canadian financial services cooperative headquartered in Quebec. it is the largest association of credit unions in North America.
Founded in 1900. Disnat was the first company in Canada to offer discount brokerage services for Canadian securities. Since then, this platform has only been available in Canada. You just need to be of age and reside in Canada.
Disnat offers many different investment products, such as Canadian and US stocks, options, structured notes, new issues, mutual funds, fixed-income securities, bonds, treasury bills, and money market products.
What type of account does Desjardins offer?
the account types Desjardins online brokerage offer include
Cash
Margin
RRSP
TFSA
LIRA
RIFF
LIF
RESP
these accounts include Canadian dollars accounts and US dollars accounts.
What type of platform does Desjardins have?
Disnat trading platforms
Disnat is a web portal for savvy investments. a way to trade stocks and be accessible online. There are therefore two primary trading platforms available for novice and experienced investors. This interface can now be used by English and French users.
Disnat is available on three different platforms:
Disnat mobile app
Disnat direct
Disnat classic
Disnat Mobile App
this app is available on google play and in the AppStore, using the app you can quickly log in through fingerprint identification.
Once you log in you can see an overview of accounts and assets place orders on stocks or options and view current orders.
You can also get real-time quotes to read market data and view your watch list with the app. You’re able to have quick and easy access to trading no matter where you are.
Disnat Direct
Disnat Direct was created for traders wishing to trade for more than 10 months. Featured is the ability to view market data via the streaming system and display a chart. It also offers an opportunity for the trader to watch portfolio changes and streaming quotes from a chart view.
For active investors, Disnat direct powered by market cube is just what you need. Disnat direct is an advanced platform for active traders who trade more than 10 times a month.
You don’t need to download any software as this platform is available through the web browser. This platform offers unlimited real-time streaming level 1 and 2 quotes, streaming market data, custom screen charts, watch lists, and advanced order types.
Benefits include extended market hours, as well as free training for those who have an account balance of 250,000 or more.
access to additional benefits with Prestige service: lower fees, dedicated phone line, refund of transfers up to 150, no inactivity , and no minimum fee for RESP accounts and exclusive events.
Disnat Classic
Disnat Classic provides the best value to investors who do not trade regularly. This simplified Disnat trading interface is easy to use and includes simple controls and simple navigation buttons.
Disnat classic is the platform available on a web browser. Disnat classic is the most popular platform for new and experienced investors. Like the app, it’s quick and easy to use and offers real-time quotes.
You also have access to Level One data analysts and research tools like Desjardins Securities, Research Services Trading Central, and Morningstar.
Disnat Classic also offers advanced charting, market news, and reports, pretty much everything the average investor needs from a full-service broker.
Who is this brokerage For?
Disnat is for those who don’t want to pay commission. In Canada, there are currently only two other options for trading with commission fees, Simple Trade, and National Bank Direct Brokerage, and if you’re trading US stocks, Simple Trade isn’t a good option because they don’t offer accounts in US dollars.
Disnat is also suitable for someone who’s already a client of Desjardins. Here you can make transfers easier and faster and simplify your finances, plus this brokerage is suitable for young investors under 30 years old.
If you’re an active trader and decide whether you want to trade commission-free with National Bank or with Disnat, and refund data fees, Disnat is the better choice. National Bank’s Active Trader platform isn’t as good as Disnat, but if you want to take your active trading to the next level, Interactive Brokers is undoubtedly the best choice for active traders.
Desjardins Online Brokerage Review: Fees and Pricing
Desjardins prices are now competitive in general but disappointed that the company has a $30 annual inactivity fee. Even though there are ways to avoid such fees like completing at least 6 trades a year holding a registered account (RSP or RRIF), and having at least $15,000 in your trading account, there are still ways to pay. Certain brokers also charge a fee for their inactivity for a certain product, and this is often easily eliminated if you buy just a couple of ETFs. Besides this, most online brokers also offer welcome bonuses.
Commission is the same for stocks and ETFs, 0 Commissions with and no minimum order value.
Options cost $1.25 per contract with a minimum of 8.75.
For Mutual funds, 0 commissions, a minimum investment of one thousand dollars is required and other fees may apply
For Fixed income, a minimum of $50 per trade is still required and you don’t have to worry about ECN fees as Disnat takes care of those costs, but there’s an SEC fee that’s unavoidable when you sell American stocks, but that fee is very small, about one cent per trade
You’ll also be charged a commission fee of at least $45 if you make a trade over the phone.
What are Desjardins Online Brokerage fees?
Disnat’s trading platform focuses primarily on discount brokers, although most discounts are offered to more active traders. Here is the fee breakdown.
Cash
Like most brokers, Disnamat has an ATM for customers to exchange funds for securities and fixed asset securities.
When you use Classic, you get free Level 1 market data and quotes in real time. You also have the option to get 10 streaming courses on demand for $30 per month. If you make 10 or more trades, the monthly cost goes down.
Direct
With Disnat Direct Level 1 data and streaming courses costing 35 per month. Level 2, streaming courses cost 105 per month but can be weighed with 41 or more trades per month
Margin
Margin rates and exchange rates are similar to the other major banks. The Canadian margin rate is prime plus 1.25 percent and the US margin rate is prime plus one percent.
The last fee you should consider is the transfer fee. If you want to transfer your entire account, it’s 150, if you want to transfer only a portion of your account, it’s 25 per security – these are pretty much standard with other brokers in Canada.
The Cons of Disnat
the biggest disadvantage of Disnat is the minimum amount of $1,000 to open an account, even though this isn’t much, it can close the door to beginners.
Another disadvantage is that they don’t refund transfer fees unless you’re 30 years old or younger. Transferring your account from your current broker to Disnat usually costs around $150, and most brokers will cover this cost if you transfer a certain amount from $5 to $25,000.
no signup bonus or referral program most brokers in Canada don’t offer a signup bonus or referral program
My final thoughts Desjardins Online Brokerage or Disnat is a good choice if you’re looking for a full-service broker that will save you money on commission fees, inactivity fees, and data fees. They may not be the best for beginners or active traders, but Disnat is all you need for the average investor, if you can save hundreds of dollars a year you’ll have a bigger portfolio in the long run.