February 14, 2011 - VANCOUVER, CANADA - Credential Direct announced today that it is lowering the number of trades required to qualify for low $9.95 commissions.
Effective March 1st, self-directed investors at Credential Direct will only need to make 10 trades or more per quarter, down from 25, to qualify for reduced $9.95 pricing. The new threshold offers substantial savings to more of their investors and represents one of the lowest commission structures in the Canadian online brokerage market.
At first glance, competitors advertising a lower per-trade price may appear to offer better fees, but it is rarely the case. Much of the time, these rock bottom fees don’t include other add-on fees such as a monthly service fee, ECN fees, data fees, or SEC fees for U.S. trades.
“Unlike most online brokerages, Credential Direct’s $9.95 pricing is truly flat-there are no hidden ECN fees,” said Credential’s President and CEO, Doce Tomic. “Even before we announced this pricing change, our organization had the lowest active trader threshold in the industry.”
Surviscor, an independent business analysis firm, recently ranked Credential Direct #1 in Canada for cost, prior to the announcement of the new pricing structure.
Surviscor’s President Glenn LaCoste said: “It’s refreshing to see Credential Direct provide straightforward, set-price commission schedules that don’t require a technical manual to figure them out. Their pricing is not only the overall lowest in our model, it offers similar, if not better, web features, functionality and resources than most of the big banks. Online traders looking for the best value and price combination, without worrying about costly ECN fees, might want to take a closer look at Credential Direct.”
Other online brokerages set 30 or more trades as the threshold and have commission tier breakpoints based on brokerage balances, usually starting at $50,000 or more in investable assets. In contrast, Credential Direct has made it easy for online traders to qualify for discounted commissions at lower trading levels regardless of account balances.
“Since 2004, we’ve maintained a top spot among our competitors by remaining focused on what matters most – our customers,” said Tomic. “Our pricing structure is based on the idea of giving as many Canadians as possible access to great service at a reasonable price. Our people-helping-people philosophy stems from our co-operative roots within the credit union system.”
Founded over 10 years ago, Credential Direct has become one of the top ranked online brokerages in the country. While founded by Canada’s credit unions, the online trading service is available to all Canadian investors, particularly those seeking competitive commissions, exceptional service and comprehensive trading tools and research.
ABOUT CREDENTIAL DIRECT - Established in October 2000, Credential Direct is a full service online brokerage delivering access to self-managed equity, mutual funds, bonds, and options trading to all Canadians. Credential Direct is a division of Credential Securities Inc., the credit union system’s preferred full service brokerage. For more information, visit www.credentialdirect.com.
For more information, please contact:
Carolyn Lefebvre, Vice President, Marketing & Communications
Credential Financial Inc.