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General Questions


Getting Started
Why BMO InvestorLine online investing services?

BMO InvestorLine online investing service provides independent investors with excellent service and fast, efficient trade execution for a wide range of investments, including stocks, options, bonds, GICs and mutual funds. Our low commissions are highly competitive and our clients enjoy access to trading, quotes and account information 24 hours a day through Automated Telephone Trading or the web. To further assist you, our BMO InvestorLine Representatives are available Monday to Friday from 8:00 a.m. to 8:00 p.m. ET. We offer our clients tools to assist in making self-directed investment decisions; we do not offer advice or recommendations to clients.

If you feel you need investment advice, a BMO Nesbitt Burns Investment Advisor can provide you with the range of investment products and relationship style you need in order to create a financial strategy that's appropriate for you.


What types of accounts can I open with BMO InvestorLine?

You can apply online to open any number of accounts at BMO InvestorLine, including: cash or margin investment accounts, self-directed RRSPs and RRIFs, locked-in retirement accounts (LIRAs), life income funds (LIFs) and locked-in retirement income funds (LRIFs) and RLIFs (Restricted Life Income funds) and RLSPs (Restricted Life Income Funds).


How can I open a BMO InvestorLine account?

A client account application form needs to be completed. It's simple to obtain an application to open an account. You can simply:

Complete an online application

Download and print a copy from this web site

Call 1-888-776-6886 during our business hours from 8:00 a.m. - 8:00 p.m. ET, Monday to Friday.

Drop into any BMO Bank of Montreal branch


Is there a minimum amount needed to open a BMO InvestorLine Account?

There is no minimum amount required to open a BMO InvestorLine TFSA or RESP account. The minimum amount needed to open all other types of BMO InvestorLine accounts is $5,000. Your initial balance can be a deposit, transfer, or a combination.


Is my account with BMO InvestorLine protected under CIPF?

BMO InvestorLine is a member of the Canadian Investor Protection Fund (CIPF). As such, clients' accounts at BMO InvestorLine are covered by CIPF up to $1,000,000. The CIPF does not cover clients' losses that result from changing market values. Visit the CIPF for more information or contact us for a brochure for more details.


Are there any administration fees to open an account?

For registered accounts such as an RRSP or Spouse/common-law RRSP, there is an annual administration fee of $100 for plans with assets less than $25,000. This administration fee is waived for plans with more than $25,000. This fee is waived until December 31 in the year when the account is open.

A $25 CDN fee will be charged each quarter on non-registered accounts with an account balance of less than $15,000. Taxes may apply.

Fee is waived for:

  • Clients who hold a RSP (including RRIF, LIRA, LIF, LRIF) with BMO InvestorLine and for clients that make two or more "commissionable trades" in 6 months.

Fee exempt accounts:

  • Informal Trusts
  • Accounts open for less than 180 days

How fee is assessed:

  • Fee is charged when "average household account balance" at the close of business on the last day of the calendar quarter is less than $15,000.
  • "Average household account balance" refers to averaging the account equity of all accounts at the same address and excludes accounts that are fee exempt.

How do I transfer an account from another broker to BMO InvestorLine? How long does it take?

To transfer an account from another broker to BMO InvestorLine, simply complete an Authorization to Transfer Account form. You can call BMO InvestorLine and we will send you the form. This form is also a part of our Application Form that you can download online from our site. Once the completed transfer form is received at BMO InvestorLine, we will arrange the transfer of all designated securities and cash from the other firm. Please note that transfers can take from two to six weeks to process.


Can I get investment advice from BMO InvestorLine?

BMO InvestorLine does not offer advice or recommendations through the Self-Directed service. We do offer advice through our adviceDirect service which acts like a virtual investment advisor. With adviceDirect you get personalized investing advice for your portfolio. This includes easy to understand ratings for all available stocks, Mutual Funds and ETFs. adviceDirect continuously monitors your portfolio ensuring you stay aligned with your personal investing style. It also instantly notifies you with unbiased buy and sell recommendations when your portfolio's asset allocation, diversification or risk requires your attention. Finally - adviceDirect provides personal support and guidance through a dedicated team of licensed investment specialists.


How do I transfer accounts or investments held with another financial institution to BMO InvestorLine?

Step 1: Obtain the Authorization to Transfer Account Form

  • If you wish to transfer to an existing BMO InvestorLine account, sign in to your account, select the Account Services tab, and click on Forms. Under Other Forms, click on option 2, the Authorization to Transfer Account form (online form). It will pop up with your BMO InvestorLine Account and Applicant Information sections already filled out for your convenience.
  • To transfer to a new account, select the Transfer an Account link under the Fund Your Account section on the BMO InvestorLine Online Application.
  • You can also access the Authorization to Transfer Account form from our home page. Go to the Getting Started tab and click on Forms. Select the Authorization to Transfer Account form (online version) and complete it.

Please note: For registered account transfers, the Authorization to Transfer Account form replaces the required T2033 form.

Step 2: Complete the Authorization to Transfer Account Form

The transfer form consists of three main sections:

  1. Account Information Section
    • Enter your account information from the transferring institution, along with your BMO InvestorLine account number and type.
    • Once you have selected an account type, we will provide you with a list of compatible account types. If they are not exact matches, the transfer, or a portion thereof, may not be accepted.
  2. Transfer Details Section
    • Select a full or partial transfer.
    • For a full transfer, you have the option of transferring:
      • The entire account in cash. All investments will be liquidated by the transferring institution at market on a best-efforts basis, subsequent to the receipt of the transfer form. This transaction will be subject to regular commission charges. To avoid delays, you may place the trades yourself with the transferring institution.
      • The entire account in kind. All investments will be transferred in their existing form.
      • The entire account mixed. You must list the investments and quantities you want transferred in kind (in their existing form), those to be liquidated, and the amount of the cash balance you wish to have transferred. Liquidation of investments will be processed by the transferring institution at market on a best-efforts basis, subsequent to the receipt of the transfer form.. This transaction will be subject to regular commission charges. To avoid delays, you may place the trades yourself with the transferring institution.
    • For a partial transfer, you must list the investments and quantities you want transferred in kind (in their existing form), those to be liquidated, and the amount of the cash balance you wish to have transferred. Liquidation of investments will be processed by the transferring institution at market on a best-efforts basis, subsequent to the receipt of the transfer form. This transaction will be subject to regular commission charges. To avoid delays, you may place the trades yourself with the transferring institution.
    • If you are transferring investments in kind:
      • For mutual fund(s) in kind, please refer to the list of funds approved for transfer to a BMO InvestorLine account. If the mutual fund(s) you wish to transfer is not on this list, there may be delays in the process, and we may not be able to complete your transfer as requested.
      • Guaranteed Investment Certificates (GICs) from banks or trust companies other than BMO Financial Group usually cannot be transferred in kind. These investments may be required to be redeemed and transferred in cash. Please verify with your transferring institution.
      • If you are transferring investment products exclusive to BMO Bank of Montreal branches or BMO Mutual Funds in kind, you may forfeit related special product features (i.e., the option to redeem early without penalty, step-up interest rates, etc.). These include:
        • Rate Riser Retirement GICs
        • Rate Optimizer GICs
        • Matchmaker Portfolios

        Please note: We advise you to consult your BMO Bank of Montreal branch before transferring these products.

  3. Applicant Information Section
    • Enter your name, SIN, address and phone number, and the name of any applicable co-applicant.

Step 3: Print and Submit the Authorization to Transfer Account Form

  • Print the form by clicking on the button at the bottom of the page.
  • If the transfer form has not been filled in completely, you will receive a message notifying you of the missing information required.
  • Sign and date the transfer form.
  • Submit the form, along with a copy of your most recent statement from the transferring institution:
    • By fax: 416-359-5607

      Please note: Some institutions may require original transfer forms. Credit unions, trust companies, foreign institutions and pension plans will not accept faxed copies.

    • By mail:
      Attn: BMO InvestorLine
      Transit no. 3973
      First Canadian Place
      100 King St. W., Floor B1
      Toronto, ON M5A 1H3
    • In person: At any BMO Bank of Montreal Branch or at our BMO InvestorLine Store:
      First Canadian Place
      100 King St. W.
      Concourse Level
      Toronto, ON M6M 5J3
      Store Hours: 8 a.m.–5 p.m. ET, Monday to Friday

How do I send security certificates?

The recommended method of sending securities is via a courier or by priority post which typically takes two to three days to deliver. You may also send via registered mail, however, delivery time is much longer and could take up to two weeks.

Security certificates should be sent to:

Attn: BMO InvestorLine

First Canadian Place

100 King Street W, Floor B1

Toronto, Ontario, M5X 1H3


What are the fees for transferring an account?

Related fees are charged by the transferring institution and may vary depending on the institution; account type and size; type of investments held in the account; whether the transfer is full or partial; etc. Other fees may apply, such as commissions where an account is being transferred in cash and investments must be liquated. Please consult your transferring institution to determine the applicable transfer fees for your account.


How long will it take to complete the transfer?
  • Transfer times vary depending on the institution and the investments being transferred.
  • All required documentation must be received by BMO InvestorLine before any transfer can be completed. Below are general guidelines for approximate transfer times once documentation is received:
    • BMO Nesbitt Burns: one to two weeks
    • BMO Bank of Montreal:
      Cash or mutual funds: two to three weeks
      Guaranteed Investment Certificates (GICs): four to six weeks
    • Brokers using ATON (Account Transfer Online Notification): two to three weeks
      Transfers of mutual funds may take longer.

    ATON-Eligible Institutions
    • Non-ATON brokers: four to six weeks Mutual fund companies: three to four weeks
    • Pensions, trust companies and insurance companies: four to eight weeks

Note: Missing and/or incomplete documentation may result in delays. During times of heavy volume transfers may take longer than expected.


Can I transfer securities between BMO InvestorLine accounts?

Yes, internal transfers are acceptable, but conditions may apply. Please call a BMO InvestorLine representative at 1-888-776-6886 to verify whether your internal transfer request can be processed, and whether any documentation is required.


What are the fees for an internal transfer?
  • Fees vary depending on the type of transfer.
  • Below are general fees that may apply (subject to change without notice):
Contributions from an individual or joint BMO InvestorLine account to a BMO InvestorLine RSP account No fee
Deregistration (withdrawing cash and/or securities) from a BMO InvestorLine RSP account for deposit to an individual or joint BMO InvestorLine account $50*
Swap (exchange of cash or securities of equal value between two eligible BMO InvestorLine accounts with the same beneficial owner) $45*
Internal transfers to or from BMO InvestorLine accounts, other than BMO InvestorLine registered accounts $25*

*Plus GST (and PST/QST, where applicable).

Tax Consequences

BMO InvestorLine is not responsible for any tax consequences that may result from the transfer of your account(s). Please consult a tax specialist prior to submitting your transfer request for details of any potential tax consequences which may apply.


Can I get real-time quotes?

Free real-time quotes are available on the trading screen to all BMO InvestorLine clients once they have signed into their account online. Clients on our Five Star program will be able to obtain real time quotes throughout the site.


What types of orders can I place online? Do you support stop orders?

You can place equity, options, gic, fixed income and mutual fund orders online. For equity orders, you can place buy, sell, or sell short orders at either market or at limit price. You can also place stop orders on those markets which support this type of order.

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