Canada-based Scotia Discount Brokerage (SDBI) has re-tooled its online capabilities, providing banking connectivity and improved research tools for its customers. The brokerage has also streamlined its pricing structure, introducing a single commission schedule for US and Canadian trading and a flat fee for up to 1000 electronically-traded shares.
SDBI's revamped online services now include banking connectivity, offering customers real-time electronic transfer of funds between brokerage and bank accounts. In addition, the brokerage has introduced single sign-on access across multiple acconts.
"Investors can now access multiple accounts and services and complete real-time electronic transfer of funds, all within a single sign-on Internet session, from home, work, or any Internet-enabled computer," says Marianne Hasold-Schilter, managing director and chief operating officer, Scotia Discount Brokerage.
The Web site also features online account statements, online application forms processed within 24 hours and improved research tools for fixed income and mutual fund research. Free email alerts and real-time quotes are also available to all customers.
The changes to SDBI's pricing structure include lowered costs of Internet and phone trading in US funds and Canadian mid to large size Internet trades. The brokerage has also eliminated the $25 no-load mutual fund purchasing fee and now offers almost all front-end load mutual funds at zero commission. The brokerage's most active traders will also receive commission discounts.
"These changes were made in response to our clients, who told us they wanted simple, straight-forward pricing...We streamlined our fee structure, creating a single commission schedule for both Canadian and US trading and a flat fee for up to 1000 electronically traded shares," says Hasold-Schilter.