3.5-star brokerage rating

CIBC Investor's Edge Review


CIBC Investor's Edge review, brokerage rating for 2018. Is it good firm? Stock trading fees. CIBC RRSP, RRIF, TFSA account investment cost, minimums, and ETFs.



CIBC Investor's Edge Overview


CIBC Investor's Edge (www.investorsedge.cibc.com) is an online discount brokerage for do-it-yourself investors. Operated by CIBC Investor Services Inc. – a subsidiary of CIBC (the Canadian Imperial Bank of Commerce) – Investor's Edge offers web-based and mobile app-based trading of Stocks and Exchange Traded Funds (ETFs), Bonds, Guaranteed Income Certificates (GICs), Mutual Funds, Options, Mortgage-backed Securities, Money Market Instruments, Precious Metals, IPOs and New Issues.


Account Types


CIBC Investor's Edge offers a number of non-registered (investment) and registered account types. Among investment accounts they support Cash, Margin and Options accounts – in both Canadian and US dollar denominations. Among registered accounts, they offer Tax-Free Savings Account (TFSA); Registered Retirement Savings Plan (RRSP) and Locked-In Retirement Accounts (LIRA); Registered Retirement Income Funds (RRIF) LIF, LRIF and PRIF; and Registered Education Savings Plans (RESP). Other account types are also provided to support trusts, estates, corporations and investment clubs.

At present only non-registered US dollar accounts are offered so trading in US-listed securities via a registered account will trigger currency conversion fees on each trade.


CIBC Investor's Edge Pricing and Fees


CIBC Investor's Edge is currently the cheapest of the Canadian bank-owned brokerages, with a basic flat-fee online trading commission of $6.95. (Prices throughout this article are in Canadian dollars.) For active traders – i.e. those executing a minimum of 150 trades per quarter – the commission drops to $4.95 per trade. Note also that Investor's Edge supports the concept of household (joint / trading authority) accounts whereby any trades executed by a designated household member are counted towards one's quarterly trading total. The basic commission for Canadian and US Options contracts is $6.95 + $1.25 per trade (or $4.95 + $1.25 per trade for active traders).

Non-registered investment accounts incur a fee of $100 per annum unless a minimum balance of $10,000 is maintained or if the account holder maintains at least one registered account. Selected registered accounts (RRSP, RRIF, LIRA and LIF) incur a fee of $100 per annum unless a minimum balance of $25,000 is maintained. There is no minimum balance required for either TFSA or RESP accounts.

There are no account-opening fees and no minimum account size. Transfer-out fees imposed by your previous brokerage – if you're transferring accounts to CIBC Investor's Edge – will be refunded up to a total of $135 for assets transferred if these have a value of $25,000 or higher. On the flip side, Investor's Edge will impose a $135 transfer-out fee if you decide to transfer your accounts to another brokerage.

Cash – Canadian or US dollars – can be moved in and out of your accounts via your designated bank account, which could be a CIBC bank account or one from another financial institution. Aside from on-demand transfers, there is an option to set up regular transfers in order to create a so-called FundbuilderTM Plan. FundbuilderTM (i.e. regular investment) Plans can take the form of a Cash Plan or Mutual Fund Plan and can be set up such that funds are directly deposited into any designated registered or non-registered account.

At present, no commission-free ETFs are offered but Investor's Edge does provide access to over 2000 commission-free Mutual Funds. Investor's Edge also offers a no-fee Dividend Reinvestment Plan or DRIP (CIBC refers to this as their ShareBuilderTM Plan), which applies to a number of eligible Canadian and US stocks. DRIPs need to be set up via Customer Services who will put you in contact with one of their traders in order to go through the Plan details.

Right now CIBC Investor's Edge does not offer robo-investing service. The best priced Canadian broker in this area is WealthSimple.


Platforms and Account Access


CIBC Investor's Edge provides both a website (www.investorsedge.cibc.com) and a mobile app (called CIBC Mobile Wealth), which is available via both the App Store and Google Play. The user interface of the website can justifiably be criticized for being somewhat out of date but, in practical terms, it is fairly simple, clean, functional and quite straightforward to use and navigate. For novice users some additional online help – closer at hand than the demo pages currently on offer – would certainly be beneficial. One could also argue that both website and mobile app could benefit from additional graphics, e.g. to monitor changing asset allocations and historical progress of one's accounts over time. Having said that, the website is fully responsive – i.e. mobile-device friendly – so one can access the site from any non-iOS and non-Android devices such as Windows Mobile phone or Blackberry phones. All core features for account viewing and equities trading are available via mobile devices, which proves to be very convenient.

Registration and initial account set up is fairly straightforward. The process starts online (basic form filling steps) but requires printed and signed copies of these forms to be mailed to CIBC Investor's Edge or hand-delivered to a CIBC bank branch. Despite the manual step involved, the process has proven quite smooth and error-free.


CIBC Investors Edge Review


Recommended Articles


Questrade review
IB account transfer fee
Thinkorswim vs Tradestation


CIBC Investor's EdgeReview - Main Features


Account and transaction viewing: show list of all accounts, show all holdings per account (with value subviews providing last business day, intraday and book values), show transaction histories (per-account, detailing all buys, sells, dividend and fee transactions incurred).

Stock/ETF trading and order types: upon selecting a stock to trade, order price can be set to market, limit and stop-limit; in terms of order expiration, the choices are good for day and good through (to a stated expiry date).

Market Watch feature for all major market indices (up-to-the-minute, 24/7 availability). Also provided are feature- and information-rich ETF and Fund Centres.

Technical analysis tools and emailed daily market reports from RecogniaTM, along with other stock tools including stock and index filters/screeners, earnings estimates, company financial reports.

Market research from MorningstarTM, Thomson-ReutersTM, Standard and PoorTM, as well as CIBC's own analysts' recommendations (CIBC Wood GundyTM and CIBC World MarketsTM). Mutual Fund research including Lipper Leader ratings, fund profiles, price history, charts and such.

Asset Allocation tools to assist one in finding the right asset mix relative to risk tolerance, investment objectives and investment time horizon.

Customized watch lists and quote lists on chosen stocks. Custom alerts via email, triggered according to defined market activity, new releases, stock prices, volume changes and/or other technical events.

Access to CIBC Investor's Edge Education Centre, a comprehensive website providing informative content and tutorials relating to investing, retirement planning, taxation and such.

Electronic account and end-of-year tax statements. These, incidentally, are free of charge and archived for up to 7 years.


Customer Service


Contact with Customer Service can be carried out via online chat (Mon-Fri 09:00-18:00 ET), toll-free phone (Mon-Fri 08:00-20:00 ET), e-mail or mail. One channel that's missing – and should really be provided – is secure e-mail, which would make it easier and more customer-friendly to carry out certain account maintenance functions – such as changing contact details. Such requests currently require direct contact with an agent, which isn't always convenient. Emails typically get answered within 24 hours.


CIBC Investor's Edge Review Summary


CIBC Investor's Edge rarely wins top prize when it comes to ease of use or comprehensiveness of their website. A somewhat outdated user experience and look and feel, together with the absence of US dollar denominated registered accounts certainly impoverishes the service on offer. Nevertheless, the broad range of instruments that one is able to trade in, the very low cost of trading involve, and the more than adequate mobile app and mobile responsive website makes CIBC Investor's Edge a solid choice among discount brokerages.
CIBC Investor's Edge reviewed by Brokerage-Review.com. Rating: 3.5