National Bank brokerage drops commissions for U.S.-listed ETFs

National Bank Direct Brokerage (NBDB), a subsidiary of National Bank of Canada, says its clients will now be able to carry out online trades of exchange-traded funds listed on a U.S. market with no commissions. This announcement comes one year after NBDB introduced commission-free trading on ETFs listed in Canada.

In its release, the company says there are no restrictions on the account size or number of trades when at least 100 units are being traded. NBDB notes clients must also sign up to its Online Documents Service to receive all their documents electronically (e-delivery) to be exempt from commission fees.

The objective of this new pricing policy, it adds, is to allow investors of all sizes to access an expanded market for ETFs.

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