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Fees

Enjoy a flat fee for all your trades.

$9.95
per trade
Pay a low flat fee every time you trade online
$0.00
No minimum balance
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Stocks & ETFs

Canadian & American Exchanges

Orders placed online

$9.95 flat fee pricing.

Don’t let trading fees eat up your profits. $9.95 is the price you pay regardless of your account balance or how often you trade. Plus there are no share or market/limit order requirements.

Orders placed by telephone to a BMO InvestorLine representative or agent

When shares are purchased over the telephone a different fee structure applies. If you perform more than 30 trades a quarter or hold more than $250,000 in assets, additional 5 Star member commission discounts may apply.

Stocks

Canadian and American Exchanges

Stock Price Commission per share
CDN Exchanges U.S. Exchanges
$0 – .245 2.5% of principal value 3% of principal value
$.25 – 1 $35 + ½¢ $39 + 2¢
$1.01 – 2 $35 + 2¢ $39 + 3¢
$2.01 – 5 $35 + 3¢ $39 + 4¢
$5.01 – 10 $35 + 4¢ $39 + 5¢
$10.01 – 20 $35 + 5¢ $39 + 6¢
$20.01 and over $35 + 6¢ $39 + 7¢
$30.01 and over $35 + 6¢ $39 + 8¢
Where the principal value of the trade is $2,000 or less, the commission is $43 CDN ($43 U.S.). Stock trades are subject to a minimum commission of $43 CDN ($43 U.S.).

Options

Canadian & American Exchanges

Orders placed online

$9.95 + $1.25 per contract*

Orders placed by telephone to a BMO InvestorLine representative or agent

When options are purchased over the telephone a different fee structure applies.

Options

Canadian and American Exchanges

Option Price Commission per contract
$0 – 2 $35 + $1.50
$2.01 – 3 $35 + $2.00
$3.01 – 4 $35 + $2.50
$4.01 – 5 $35 + $3.00
$5.01 and over $35 + $3.50
Where the principal value of the trade is $2,000 or less, the maximum commission is $43 CDN ($43 U.S.). Option trades are subject to a minimum commission of $43 CDN ($43 U.S.). Regular stock commission schedule applies for assignments and exercises.

*For complete Terms & Conditions visit bmo.com/self-directed/pricing.

Mutual Funds, Bonds, GICs, Gold & Silver


Our 5 Star members are also eligible for lower fee stock trading discounts on 
trades placed over the phone with a BMO InvestorLine Representative.

SEE DISCOUNT

Foreign Currency

Rates and information

Conversion of any foreign currency, when necessary, shall take place on the trade date using rates established or determined by BMO InvestorLine.

In addition to the commissions or other fees applicable to the transaction, BMO InvestorLine (or parties related to us) will earn spread revenue up to 1.6% from a foreign currency conversion.

Please contact a BMO InvestorLine representative for rates or for additional information.

Calculating Margins

Placing trades in margin accounts can feel overwhelming if you do not understand the importance of calculating margin. A margin allows you to buy securities by borrowing margin.

To calculate the margin required for a long stock purchase, multiply the number of shares x the price x the margin rate. The margin requirement for a short sale is the regular margin requirement plus 100% of the value of the security.*

Margin Requirement = shares x price x margin rate percentage

Examples:

Long Stock Short Stock

Purchase 1,000 shares of a stock at $50 with margin rate of 30%. The margin requirement would be:

1,000 shares x $50 x 30% margin rate = $15,000

This is the minimum required amount of cash or excess margin that must be in the account before a buy order can be entered.

Since 30% is the margin rate, BMO InvestorLine is lending the account holder 70% of the trade value.

Maximum loan value is 1,000 shares x $50 x 70% = $35,000

Short sell 500 shares of a 50% marginable stock priced at $10.00. The margin requirement is 150%. Note: 100% of the margin requirement is generated from the sale of the security. Therefore, the additional initial margin requirement is 50%, the same amount required in order to accept the trade if you were purchasing the stock.

500 shares x $10.00 x 50% = $2,500

The total margin requirement to hold the position, including the 100% of the proceeds from the short sell, is calculated as follows:

500 share x 10.00 x 150% = $7,500

(Note: BMO InvestorLine does not pay interest on the cash proceeds of the short sale.)

Stocks and warrants margin requirements

If the Long Positions are... Margin Requirement**
Common Stocks and are included on the List of Securities Eligible for Reduced Margin or Options Eligible*** 30%
Common Stocks and are not included on the List of Securities Eligible for Reduced Margin or not Options Eligible 50%
Preferred Stocks and are included on the List of Securities Eligible for Reduced Margin or Options Eligible 35%
Preferred Stocks and are not included on the List of Securities Eligible for Reduced Margin or not Options Eligible 60%
Rights / Warrants 50%
±2x and higher Leveraged Exchange Traded Funds (ETFs) / Exchange Traded Notes (ETNs) 100%
Less than $2.00 100%

Short selling margin requirements

If the Short Positions are stocks that are... Margin Requirement**
Eligible for reduced margin or options eligible 130%
Not eligible for reduced margin or not options eligible 150%
Less than $2.00 Not permitted to be short sold
Exceeding CDN$200,000 in market value 175%
If the Short Positions are... Margin Requirement**
Fixed Income Instruments 100% of the market value of the short position + applicable margin rate as if it is a long position

Mutual funds margin requirements

Mutual Funds Margin Requirement**
Value of $2.00 or more 50%
Value under $2.00 Not eligible for margin

* BMO InvestorLine maintains the right to change margin requirements at any time without notice.

** The amount of funds the client must provide.

*** For list of securities eligible for reduced margin, please visit: http://www.iiroc.ca/Documents/2015/84e16c47-6360-4d44-a9d2-d835c0a2976d_en.pdf

You may be subject to our concentration guidelines depending on the security and the market conditions. A security is considered to be concentrated in a portfolio if its market value or loan value exceeds 25% of the portfolio’s market value or loan value, respectively. The maximum loan value extended to a concentrated position is 25% of its market value. Additional requirements may apply depending upon the specific transactions and positions in your account.

Account Fees

The following charges apply to all BMO InvestorLine accounts. Taxes may apply.

Minimum balances

$0.00 minimum balance is required for TFSA and RESP accounts.

$5,000 minimum balance is required to open all other investment accounts such as cash or margin accounts, corporate accounts, etc.


Fees for non-registered accounts (account minimum)

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. This fee is waived for clients who hold a registered account with BMO InvestorLine and for clients that make 2 or more commissionable trades* in 6 months. The 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. The average household account balance refers to averaging the account equity of all accounts at the same address and excludes accounts that are fee exempt.


Special Request Fees

$50.00 Security registration
$40.00/hr Statement search, trade investigation, etc.
$25.00 Internal transfers (non-registered accounts)
$135.00 Transfer out
$50.00 Estate account certificate - handling fee
$10.00/request Cheque requests
$50.00/certificate/month Safekeeping securities (excluding CSBs and GICs)
$5.00/item Statement and confirmation replacement
$2.00/monthly Paper statement mailed

Note: Are you performing 30 trades a quarter or have over $250,000 in assets? You may be eligible for fee discounts through the 5 Star Program.

*Commissionable trades are: Buys and sells of Equities, Options, Transaction Fee Mutual Funds, and Fixed Income except for GICs, Canada Savings Bonds, and Provincial Savings Bonds.


See all BMO InvestorLine’s
fees and commissions.

Commission & Fee Schedule

Download PDF (123 KB) Last Updated : June 1, 2017

See interest rates on all
BMO InvestorLine accounts.

Interest Rates

Download PDF (123 KB) Last Updated : June 14, 2018