Scotia Discount Brokerage Scotia Discount Brokerage, also known as ScotiaMcLeod Direct Investing, is an online banking, brokerage, and investment establishment. The organization aims to provide its clients with convenience and control over their financial situation. Scotia Discount Brokerage achieves this by offering its clients a comprehensive view of their finances, including the components of lending, banking, and investing. You can see the whole picture just by signing into your account. You can benefit from the company’s top-tier research and tools so that you can be more informed about the investment decisions you make. Clients are encouraged to open more than one account, because they can trade instantly by transferring funds between accounts in real time. It is very easy to open an account with Scotia Discount Brokerage. The first and most obvious way is by applying online. If you prefer filling it out in writing, you can print the application form and mail it to ScotiaMcLeod. You can also get it by mail by calling or e-mailing the company. You can pick up an application form from any branch of Scotiabank as well. Only Canadian residents are permitted to open accounts with Scotia Discount Brokerage. You can apply for a personal or a non-personal account. Those who want to open an RESP must apply in paper only. Scotia Discount Brokerage offers three types of services to clients interested in trading and investing – direct, active, and select. Scotia Direct is a top-quality, flexible, and competitive service for clients making fewer than 30 trades per trimester. Scotia Active is for the more active, as the name suggests – investors making 30 or more trades within the same period. Finally, Scotia Select is for the top-tier clients of the company. It is only for the most active investors. If you are among them, you can save tons on commissions and fees. You can save up to 50 percent on US and Canadian trades in equities and/ or options made over the phone. This is how it works. For example, you get a 20 percent discount on commissions if your trimester gross commission ranges from $1,250 to $3,749. The discount is 30 percent on amounts ranging from $6,250 to $12,499, 40 percent on amounts in the range of $12,500 - $24,999, and 50 percent on amounts over $25,000. The discount for holders of accounts with $1 million or more is 5 percent, which they probably couldn’t care less about. In general, your best bet is $25,000 or more in trimester gross. The company also offers a large variety of investment alternatives such as Canadian and US equities and options, labor sponsored investment funds and mutual funds, precious metal certificates, and much more. ScotiaMcLeod Direct works with both, seasoned professionals and novice investors. Clients who prefer to invest in Canadian and US options can choose from bond, index, and equity options from the markets in Canada and USA. Customers can also place orders for US and Canadian equities, including short sales. Orders can be placed on all over-the-counter markets and major exchanges in North America. Fixed income securities are offered by ScotiaMcLeod Direct, including municipal and provincial government bonds, mortgage-backed securities, and US treasury bonds. Money market instruments are also available for trading. These include bankers acceptances and provincial government T-bills, among others. Clients who want to invest in silver or gold can purchase silver and gold certificates, as well as bars and coins. Scotia Discount Brokerage also features over 2,500 mutual funds for clients to choose from. Among them are Fidelity Investments, AGF Investments, and Franklin Templeton Investments.