CIBC Investor’s Edge Review

CIBC Investor’s Edge Review 2022

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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.

Table of Contents

CIBC Investor's Edge Logo

CIBC Investor's Edge is one of the leading online investment brokerages for Canadians.

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: The Good Stuff

Logo Relatively low trade fees

Logo Discounts for certain traders (like students)

Logo Carries the prestige of CIBC

Logo Multilanguage services

Logo Wide range of account types

Logo No minimum investment amount

Logo Socially responsible stocks available

Logo Offers CAD and USD stock options

Logo No annual fee for those who qualify under certain offers

Cons: The Not So Good Stuff

Logo The fees add up after multiple trades

Logo 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

CIBC Investor’s Edge is incredibly safe to use. Not only is it backed by CIBC, one of the most popular banks in Canada, but it also has its own security measures in place. CIBC itself is a member of the CIPF and the IIROC, which both represent the gold standard of financial security in Canada. CIBC offers its customers a 100% guarantee against the loss of funds from cyber crime or fraud.

Yes, it’s possible to buy US stocks on CIBC Investor’s Edge, but they can only be purchased using US dollars. CIBC Investor’s Edge will perform the currency conversion for you so you can purchase your US stock using Canadian funds. You will be charged an exchange rate. This is determined by CIBC and will fluctuate over time. Keep in mind that if the Canadian dollar strengthens overtime, you might see the value of your portfolio fall. You take on an additional risk when investing in foreign currency.

Yes, CIBC Investor’s Edge has a mobile app. It’s called CIBC Mobile Wealth and allows you access to all of your investment accounts. You also have access to expert financial advice and can also opt to build “watch lists” for investments. The app is the easiest way to receive alerts for any price adjustments that might affect your investments. You can also easily transfer funds between CIBC accounts at the touch of a button.

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