Frequently asked questions

To open an account, you can:

• Apply online 
• Visit the nearest Scotiabank branch
• Download and complete an application form

You can also call us at 1-888-769-3723 between 8:00 a.m. and 8:00 p.m. ET Monday to Friday and speak to one of our Sales Associates who would be happy to assist you with opening your account.

Scotia iTRADE offers a variety of account types including Non-Registered Accounts, Registered Accounts and Non-Personal Accounts.

Non-Registered Accounts

• Cash Account
• Margin Account

Registered Accounts

• Registered Retirement Savings Plan (RRSP)
• Registered Retirement Income Fund (RRIF)
• Locked-in Retirement Account (LIRA)
• Life Income Fund (LIF)
• Tax-Free Savings Account (TFSA)
• Registered Education Savings Plan (RESP)

Non-Personal Accounts

• Trust Account
• Investment Club
• Trust or Estate
• Sole Proprietorship, Corporate, Partnership
• Unincorporated Organization (Charity or Foundation)

Once you complete an online application form, your account may receive temporary approval so you can start trading as early as the next business day. You then have two weeks to mail us the documentation required to complete the account approval process. However, approval of RESP accounts and some non-personal accounts may take longer as we only accept paper-based applications for these types of accounts. Margin and PRO accounts will only be opened once all documents are received an approved.

A designated trading authority or power of attorney can be specified during the online account application process.

Please complete the Trading authorization form or the Power of attorney form to choose a designate.

Our Customer Service Centre is open five days a week. To reach us by phone, call 1-888-872-3388 8:00 a.m. to 8:00 p.m. ET Monday to Friday, or email us at service@scotiaitrade.com.

We offer several convenient ways to transfer funds to your account:

• If you are already an existing Scotiabank client, you may transfer funds from your Scotiabank account online by logging onto Scotia OnLine.
• You may also transfer funds from any bank account that you hold with another Canadian financial institution by enrolling in our Easy Transfer service. To do this, complete the Easy Transfer Authorization Form, and then mail the form, along with a personalized void cheque or branch stamped bank letter to:
  
  Scotia iTRADE
  P.O. Box 4002 Station A,
  Toronto, ON M5W 0G4
• Other methods of deposit include bill payment from any bank account that you hold with another Canadian financial institution, wiring money in, or depositing a cheque.

You can link your bank account(s) from another Canadian financial institution to your Scotia iTRADE account(s) by providing the banking details on the account application form you complete and submitting a personalized void cheque or branch stamped bank letter.

Alternatively, you can download, complete and mail the Easy transfer authorization form to: 

Scotia iTRADE
P.O. Box 4002 Station A,
Toronto, ON M5W 0G4

Transferring securities from another financial institution to your Scotia iTRADE account is easy. On the account application form, you will be asked "Do you want us to transfer any of your assets from another financial institution?" Simply reply "yes" and provide the transfer details and we will initiate the transfer process for you. Please note: For RESP transfers, you must complete the RESP Transfer Authorization Form below:

Transfer Authorization form for RESP Accounts

You can also transfer securities and investments to your Scotia iTRADE registered or non-registered account(s) by completing the appropriate Transfer Authorization Form below:

Transfer Authorization form for Registered Accounts

Transfer Authorization form for Non-Registered Accounts

Yes, Scotia iTRADE offers pre-authorized contribution/deposit plans from any bank account at a Canadian financial institution to your Scotia iTRADE account. To link to a bank account and set up a plan, complete the Easy Transfer Authorization Form and mail the form, along with a void cheque or branch stamped bank letter to: 

Scotia iTRADE
P.O. Box 4002 Station A,
Toronto, ON 
M5W 0G4

You can deposit share certificates in your name to your Scotia iTRADE account by completing the Power of Attorney to Transfer Securities form Power of Attorney to Transfer Securities form.

Please indicate "Scotia Capital Inc." as the name of the transferee on the form and note the account number on the top right hand corner of the certificate.

You can send the form and the certificates via registered mail or courier to:

Scotia iTRADE Operations
40 King Street West – 15^th Floor
Toronto, Ontario
M5H 3Y2
Attention: Operations

Please note that Scotia iTRADE does not accept third party certificates and certificates for securities trading on the NASDAQ Pink sheets and OTCBB exchanges.

For deposits to non-personal accounts, please contact Scotia iTRADE at 1-888-872-3388.

The following types of securities can be traded in your Scotia iTRADE account:

• Equities
• Options
• Exchange Traded Funds (ETFs)
• Mutual Funds
• Bonds
• New Issues
• Precious Metals

Learn more

You can place various types of orders in your Scotia iTRADE account(s), including:

• Market Orders
• Limit Orders
• Stop Orders
• Trailing Stop Orders
• Day Orders
• All or None Orders
• Market if Touched Orders

Yes, you can trade U.S. securities in the new U.S. dollar side of your Scotia iTRADE registered account. All registered account types, except Registered Education Savings Plans (RESPs), have a U.S. dollar side. For RESPs, Scotia iTRADE offers a U.S.-Friendly option.

It’s easy to enroll the U.S. dollar side of your registered account. Simply log into Scotia OnLine and click Manage my account >> Additional Services >> Scotia iTRADE >> Service Request >> Enroll.

Yes, you can apply for short selling in a non-registered account during the account application process. The account approval for short selling is based on many factors including the account value, your investment knowledge and credit worthiness. Short selling of securities can only be done in Short Margin accounts and is not permitted in registered accounts.

Yes, you can place pre-market and after-hours trades online for U.S. markets by logging onto scotiaitrade.com and selecting “Extended Hours” from the Term Field on the Equity order entry page. 
Scotia iTRADE offers U.S. pre-market trading between the hours of 8:00 a.m. and 9:30 a.m. EST, and after-hours trading between 4:00 p.m. and 5:30 p.m. EST.

You can also place extended-hours trades by calling and speaking with an Investment Representative.

There is no minimum balance required to open an account at Scotia iTRADE. However, to avoid being charged a Low Activity Account Administration Fee, we encourage you to deposit a minimum balance of at least $10,000. Otherwise there is a fee charged for clients with aggregate account equity of less than $10,000 who do not generate at least one commissionable trade per quarter.

Yes, Scotia iTRADE offers Dividend Reinvestment (DRIP) and/or Dividend Purchase Plans (DPP).

The DRIP/DPP program reinvests in whole shares, hence subsequent dividends paidout need to be sufficient to buy at least one whole share. (i.e. the cash dividend you receive from your shares must be greater than the price of one share to participate). To be eligible for the plan, you must enroll up to two weeks prior to the dividend distribution date.

You can request stock certificates or direct registration statements be registered and delivered to you, in your name, by calling Scotia iTRADE at 1-888-872-3388. 

If you require stock certificates to be registered in the name of a family member, complete the “Third Party Registration of Shares to Family Members” form

Third Party Registration of Certificates to Family Members form

Yes, you can receive account statements, annual trading summaries, trade confirmations and mutual fund prospectuses electronically.

To sign up for electronic document delivery, log onto scotiaitrade.com, go to Manage My Accounts > Document Preferences > Investment Accounts and specify your document delivery preferences.

Once you've selected your preferences and acknowledged the Terms for Electronic Document Delivery Agreement, select the "Submit" button.

Scotia iTRADE also provides automatic email notifications regarding trade status changes, new issue offerings, deposits and transfers of funds.