National Bank Direct Brokerage (NBDB), a subsidiary of National Bank of Canada, has scrapped commissions charged on trades for US-listed ETFs.

National Bank Direct Brokerage is currently the only Canadian online broker to offer commission-free trades on all ETFs listed on Canadian and US stock markets.

According to NBDB, the objective of the new pricing policy is to allow all investors, regardless of the size of their portfolios, to access an expanded market for ETFs.

Laurent Blanchard, president of NBDB, commented: “With this unique pricing policy, NBDB is making yet another major change to the online brokerage landscape and continuing to make self-directed investing even more accessible. Our team is very proud to be at the forefront.”

The move comes a year after NBDB introduced commission-free trading on ETFs listed in Canada. Currently, NBDB is the only Canadian online broker to offer commission-free trades on all ETFs listed on Canadian and US stock markets.

“More than ever, our aim is to innovate to meet the needs of self-directed investors,” continued Blanchard. “It’s our priority and today’s announcement is tangible proof. By saving on commissions, our clients will be able to build their portfolios and grow their wealth. This change benefits all types of investors.”

To be exempt from commission fees, clients must also sign up to NBDB’s online documents service to receive all their documents electronically. There are no restrictions on the account size or number of trades when at least 100 units are being traded.