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CIBC Investor’s Edge Review 2023

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The internet has made the buying and selling of stocks more accessible than ever. Whether you’re looking to dapple in trading or dive right in, there are a number of online platforms that can help you, including CIBC Investor’s Edge. In this CIBC Investor’s Edge review, we’ll lay out the basics of what makes this platform tick and whether or not it’s right for you.

What is CIBC Investor's Edge?

CIBC Investor’s Edge is the flagship online investment brokerage of CIBC, one of Canada’s Big Five Banks. Unlike other online investment options, which often offer a “hands on” approach thanks to roboadvisors, Investor’s Edge presents an option for Canadians who want to manage their own investments. This includes anyone who doesn’t know yet know how to manage investments but who wants to learn.

CIBC Investor's Edge Pros & Cons

Pros

  • Relatively low trade fees
  • Discounts for certain traders (like students)
  • Carries the prestige of CIBC
  • Multilanguage services
  • Wide range of account types
  • No minimum investment amount
  • Socially responsible stocks available
  • Offers CAD and USD stock options
  • No annual fee for those who qualify under certain offers

Cons

  • The fees add up after multiple trades
  • Accounts under a certain amount subject to an annual fee

How to Use CIBC Investor's Edge

  1. Download the CIBC Investor’s Edge account or visit the CIBC Investor’s Edge website.
  2. Open a CIBC Investor’s Edge account. You can do this online fairly easily. All you’ll need to do is create a User ID and password and accept the user agreement.
  3. Fund your account. You can easily do this from your CIBC online bank account, or you can transfer your funds from a different financial institution. If you’d prefer to make an offline transaction, you can visit any local CIBC branch and deposit your money that way. There is no minimum amount that you need to start with.
  4. Choose the right investment account for you. CIBC Investor’s Edge offers a collection of registered and non-registered accounts. They also offer various non-personal accounts, if you’re investing on behalf of a business or an estate.
  5. Set up a trading password. You can do this in your account preferences. You’ll need to enter this every time that you make a trade.
  6. Now it’s time to start trading. If you’re new to the process, CIBC offers a robust learning center that teaches you about the different investment types, stock strategies, market trends, and comprehensive how-to guides.
  7. Keep an eye on your investments and watch your wealth grow!

CIBC Investor's Edge Features

Fees

The trade fee for CIBC Investor’s Edge will vary depending on your account type. Canadian and US stocks and ETFs cost $6.95 per trade and Canadian and US option trades are $6.95 plus $1.25. Mutual funds cost $6.95, and the price for fixed income and money market investments vary. If you are an active investor (defined as trading more than 150 trades every quarter), you become eligible for discounts. Discounts are also available for students and young adults. Students under 25 with CIBC Smart Account trade for free and are offered free online training. Young investors and students over 25 pay $5.95 per trade or $4.95 if they are active investors.

RRSPs, RRIFs, LIRA, and LIFs carry no annual fee provided their balance is over $25,000. If they’re under $25,000, the annual fee is $100. Non-registered accounts have no annual fee if their balance is greater than $10,000 but non-registered accounts under $10,000 will be charged $100 per year.

Account Types

CIBC Investor’s Edge offers the following registered accounts: TFSA, RRSP, RESP, RRIF, LRSP, PRIF, LIRA, and LRIF. They offer non-registered cash and margin accounts. Non-personal accounts are also offered, including formal trust accounts, corporate or partnership accounts, and investment club or estate accounts.

Usability and Interface

CIBC Investor’s Edge offers a highly-rated mobile app called CIBC Mobile Wealth that allows you to perform all core functionalities on-the-go. They also offer a robust online platform that gives you easy access to an overview of your stocks under the “Account Holdings” tab. Under “Transaction History”, you can see a complete overview of everything that has happened in your account.

Customer Service

CIBC Investor’s Edge offers a toll-free telephone line, as wel as a local Toronto number. They also offer support via instant chat, mail, and email. CIBC Investor’s Edge notably offers language support in English, French, Mandarin, and Cantonese.

Final Thoughts

With CIBC Investor’s Edge, you’re on your own more than you would be with a full-service broker. However, they don’t completely leave you treading water. With CIBC Investor’s Edge, the research tools that you have at your disposal are some of the best we’ve seen. The interface, which recently went through a revamp, is incredibly easy to use. Though the (albeit inexpensive) trading fees can quickly add up, we recommend CIBC Investor’s Edge to anyone who is looking to empower themselves to take control of their trading portfolio.

Frequently Asked Questions