Account Types

Compare your account options.

Scotia iTRADE® clients can choose from a wide range of account types.

Use this helpful account table to compare the different account options available to you. From registered accounts like RRSPs to non-registered accounts like cash or margin, the choices available to you are vast. This comparison can help you determine the best account option to meet your needs.

Account comparison

Account type Category Restrictions Investment types Currency Account fee Time horizon
TFSA Registered
Defer tax payments, compound investments, and earn tax-free income, and save for your child’s post-secondary education
Subject to annual contribution limit Stocks, ETFs, Mutual Funds, Fixed Income and Options (limited strategies) CAD No fee Short to long term
RSP Subject to annual contribution limit and withholding tax upon withdrawal Stocks, ETFs, Mutual Funds, Fixed Income and Options (limited strategies) CAD $100 if aggregate account is less than $25K and < than 12 trades/year Long-term
RESP Maximum lifetime contribution limit of $50K per child Stocks, ETFs, Mutual Funds, Fixed Income and Options (limited strategies) CAD $25 if aggregate account is less than $15K and < than 12 trades/year Short to long term
Margin Non-registered
No contribution or withdrawal limits
Minimum equity requirements apply Stocks, ETFs, Mutual Funds, Fixed Income and Options CAD USD $25 per quarter
Low activity account admin fee and interest on borrowing
Short to long term
Cash optimizer None Fixed Income, Fixed Income Mutual Funds, Money Market Funds CAD USD No Fee Short to long term
Cash None Stocks, ETFs, Mutual Funds, Fixed Income CAD USD $25 per quarter
Low activity account admin fee
Short to long term

Account descriptions

Contributions are not tax deductible, but any interest income, dividends and capital gains earned are tax free.

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Contributions are tax deductible up to individual limits. Interest, capital gains and dividends are tax-deferred until withdrawal. Qualified for withdrawal tax-free under Home Buyers’ Plan and Lifelong Learning Plan, subject to repayment requirements.

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Investment growth is tax-free until withdrawn and the government will match a percentage of your contribution each year. Grants and investment returns are taxed to child at their applicable income tax rate.

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Borrow against the value of your cash and securities, to invest. Interest is charged on any debit balance in the account. Possible to upgrade account to trade options and short sell.

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This savings account enables you to take advantage of higher interest rates3 as you decide when and where to invest.

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Trades settle in cash, settlement period vary depending on investment type. You can withdraw cash from your account at any time.

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