CIBC Investor's Edge Review for 2024: Everything You Need To Know
Advertiser Disclosure: Fortunly.com is an independent review site dedicated to providing accurate information about various financial and business-related offers. Fortunly.com remains financially sustainable by participating in a series of affiliate partnerships - it’s visitors’ clicks on links that cover the expenses of running this site.
How and where the offers appear on the site can vary according to the partnership terms. Affiliate partnerships may affect where a particular product is listed within a review, but they don’t affect the review’s content in any way.
Fortunly.com’s in-house writing team writes all the site’s content after in-depth research, and advertisers have no control over the personal opinions expressed by team members, whose job is to stay faithful to the truth and remain objective.
Our pages may include reviews of products or services for which we do not receive commission and are not tied to affiliate partnerships; information included in these reviews has been solely collected by Fortunly.com and has not been reviewed or provided by the issuer of this product or service. Product/service details may vary. Please see the issuer’s website for current information.
The Fortunly.com website does not include reviews of every single company offering loan products, nor does it cover all loan offers or types of financial products and services available.
Online trading has been growing in popularity in recent years, and now, there is a variety of platforms to choose from. CIBC Investor's Edge is one of those platforms, and it’s one of the most popular online brokers in Canada, thanks to its competitive fee structure and extensive feature set.
In this CIBC Investor's Edge review, we will take an in-depth look at what this broker has to offer. We'll cover everything from the key features and advanced tools to the mobile app and customer support.
By the end of this review, you should have a good idea as to whether CIBC Investor's Edge is the right choice for you.
No account fees for TFSAs and RESPs
Fortunly Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Strengths
- No account fees for TFSAs and RESPs
- Free stock and ETFs trading for young investors
- Low fees and commissions
- Great mobile app
Weaknesses
- No cryptocurrency trading
- $100 annual maintenance fee for non-registered accounts with low balances
CIBC Investor’s Edge Overview
CIBC Investor’s Edge is a division of CIBC Investor Services Inc., which is a subsidiary of the Canadian Imperial Bank of Commerce, one of the biggest banks in Canada.
The history of CIBC goes back to 1961, which speaks volumes about the bank’s reliability. This means you can trade with CIBC Investor’s Edge with complete confidence, knowing that your money is in safe hands.
CIBC Investor’s Edge offers a wide range of investment products and services, including stocks, bonds, mutual funds, guaranteed investment certificates, and more. The platform is available to self-directed investors and those who would prefer to work with a CIBC advisor.
CIBC Investor’s Edge is a great choice for beginner investors because of its simple and user-friendly platform. At the same time, if you're an experienced trader, you'll find plenty of advanced features and tools to help you get the most out of your trading.
CIBC Investor's Edge Features
CIBC Investor’s Edge is a powerful online trading platform that gives users the ability to trade stocks, bonds, mutual funds, ETFs, and more.
The platform offers a number of features that make it an attractive option for both experienced investors and those just starting out. For example, users can set up automatic investing plans, track their portfolios in real-time, and access research and analysis tools.
In addition, CIBC Investor’s Edge has competitive pricing and an abundance of resources to help users make informed investment decisions.
Pricing Details
Now that we’ve covered the basics, we should learn a bit about the CIBC Investor’s Edge pricing details. Regarding pricing, CIBC Investor’s Edge is highly competitive, making it an attractive option for those who want to keep costs low.
If you're interested in trading stocks and ETFs, you can do that under favourable terms at $6.95 per trade. And when it comes to option trades, the commission is only $1.25 per contract, on top of the aforementioned flat fee. Mutual funds are available at $6.95 per trade, and there's a limited-time offer that allows mutual funds trading with no commission until April 6, 2023.
If you’re a young investor between 18 and 25 years of age, you can trade stocks and ETFs on CIBC Investor’s Edge completely free, although the fees for options and mutual funds trading remain the same.
CIBC Investor’s Edge has no fees for TFSAs or RESPs. If you open an RRSP, RRIF, LIRA, or LIF account, you will be charged an annual account fee of $100 if your account's market balance is $25,000 or less. And if you have a non-registered account, a $100 annual account fee will be charged if the market balance of the account is below $10,000.
Mobile App
For an investment platform to be successful in this day and age, it must be accessible on mobile platforms. Unsurprisingly, CIBC Investor’s Edge has a mobile app for both iOS and Android devices.
The app gives users a high degree of flexibility, allowing them to access their accounts and trade with ease, stay informed, and manage their portfolios anytime, anywhere. They can transfer funds between their CIBC accounts, review their transactions, and track their performance 24/7. They can also use charts to do technical analysis and monitor stock prices.
How Does CIBC Investor’s Edge Compare to Other Trading Platforms?
Now that we’ve taken a detailed look at CIBC Investor’s Edge, how does it compare to other trading platforms?
For this comparison, we’ll take a look at two of CIBC Investor’s Edge's main competitors: Wealthsimple and Questrade.
CIBC Investor's Edge vs. Wealthsimple
Wealthsimple is a popular automated investment management service with a user-friendly and intuitive platform. Like CIBC Investor's Edge, Wealthsimple has no account minimums and offers a variety of investment options, including stocks, ETFs, and mutual funds.
However, there are some key differences between the two platforms. Wealthsimple offers three account tiers: Basic, Black, and Generation. Depending on the tier, the account management fee is either 0.4% or 0.5%.
Wealthsimple is also one of Canada's first regulated crypto platforms. It allows users to trade Bitcoin, Ethereum, Dogecoin, and other major cryptocurrencies. On the other hand, CIBC Investor's Edge does not offer cryptocurrency trading at all.
Both Wealthsimple and CIBC Investor's Edge offer many resources and research tools to help users make good investment decisions, which can be extremely helpful, especially for beginners.
CIBC Investor's Edge vs. Questrade
Questrade is another popular online trading platform in Canada with low management fees and stocks starting at just $1 per share. It is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada, meaning your investments are protected for up to $1 million if the company were to go bankrupt.
Like CIBC Investor's Edge and Wealthsimple, Questrade offers multiple investment options, such as stocks, mutual funds, options, and ETFs. However, its fee structure is a bit different. If you have an account with a balance between $1,000 and $99,999, you'll be charged a 0.25% fee. However, if your account has more than $100,000, the fee is lowered to 0.20%.
Final Thoughts
Overall, CIBC Investor's Edge is a great online trading platform for those who are looking for a user-friendly interface and competitive pricing.
CIBC Investor’s Edge tools and resources can be helpful for beginner and experienced investors alike, and although the platform doesn't offer cryptocurrency trading, it does provide other advanced features that make it a great option for online trading. The mobile app is also very helpful, giving users the flexibility to trade on the go.
That said, we would recommend CIBC Investor's Edge to all traders looking for low fees and high accessibility.
FAQ
Is CIBC Investor's Edge worth it?
CIBC Investor's Edge is definitely worth it! It's a great platform that can save you a lot of money and help you grow your investment portfolio. It offers low fees and commissions and has a variety of investment options. The website also has an extensive knowledge base, which is ideal for beginner investors.
What is the best stock trading platform in Canada?
There are many great stock trading platforms in Canada! Some of the most popular ones include Questrade, TD Direct Investing, Wealthsimple, and the CIBC Investor's Edge trading platform. All of these platforms are known for their low fees, extensive resources, and user-friendly interfaces. As for which one is the best, that depends on your individual preferences.
Is CIBC a good bank?
CIBC is definitely a good bank! It has been named the Best Treasury and Cash Management Bank in Canada six times in seven years, and its mobile banking app was ranked first by J.D. Power for client satisfaction in Canada. These are just some of the things that showcase how reliable CIBC really is and how much it has to offer its clients.
How do I transfer money into CIBC Investor's Edge?
There are three options for funding your CIBC Investor's Edge account.
You can complete an online cash transfer by going to your account and selecting Cash Transfers. This will transfer funds from a CIBC bank account to your Investor's Edge account. The second thing you can do is transfer those funds or securities from another financial institution. This can be done by completing the transfer request forms provided on CIBC's website. The last option is to deposit the funds directly at one of CIBC’s locations.
Is CIBC Investor's Edge good for mutual funds?
CIBC Investor's Edge is a great solution for trading mutual funds! It offers low fees and commissions, as well as a variety of investment options. Users can trade mutual funds at a fee of $6.95 per trade. At the time of writing this CIBC Investor's Edge review, there was also a special offer that allows users to trade mutual funds commission-free for a limited time.