Action Direct lowers trading commissions

Recently I have been thinking of switching our self-directed accounts from Royal Bank Action Direct to a low commission provider. I already started collect info about other banks. But good news came last week. Royal bank has lowered the fees to $9.95, if you have household assets more than 50K. This is effective from Dec 22nd 2010. This morning, I called Action Direct to ensure that our accounts are eligible and just asked them whether they would consider applying lower commission effective immediately. Guess what? Customer Service Rep said “Yes”.

Other banks have also reduced the trading commission rate recently. You can find the details for other banks at Price Wars Among Discount Brokers by Canadian Capitalist