TORONTO, ONTARIO--(Marketwire - Aug. 9, 2012) - Scotia iTRADE is the new leader in Canadian online discount brokerage services, according to the recently released Surviscor Q3-2012 Online Discount Brokerage scorCard. Scotia iTRADE (87%) dethroned past winner Qtrade Investor (80%) and has the biggest percentage lead since the review began in 2006. BMO InvestorLine (77%) holds a slight percentage advantage in third over TD Waterhouse (77%) who is steadily decreasing down the ranks it owned for several reviews. Credential Direct (74%) continues to hold the 5th spot while RBC Direct Investing (72%) maintained the 6th spot. The results mark Scotia iTRADE's first top honour with Surviscor.
"It's been a long time since we've seen a major push from the industry. Scotia iTRADE not only pushed, it ran away with the title," said Mr. LaCoste, President of Surviscor, a Toronto-based research and business intelligence firm. "They did themselves proud and are well deserving of the top spot."
Surviscor's Online Discount Brokerage scorCard is a comprehensive, impartial audit of the features and functionality offered to investors by Canada's online discount brokerage firms. The Q3-2012 edition reviewed 7 main categories, comprised of 32 sub-categories and just under 3,300 criteria questions, an increase of 11% from the Q1-2012 review.
"To be recognized by Surviscor as Canada's number one rated online brokerage firm in the industry is a proud moment for Scotia iTRADE," said Bob Grant, Managing Director and Head, Global Online Brokerage, Scotiabank. "The award is tremendous validation for the incredibly hardworking team who developed and refined the superb online brokerage trading experience which we offer Canadian online investors. We're extremely appreciative to our loyal clients who have shared very positive feedback with us on our new trading platform, and we remain dedicated to delivering market leading offerings to online investors."
Scotia iTRADE earned three of the seven top category top rankings and eight of the 32 sub-category top rankings. The results came at the expense of TD Waterhouse who earned two category and five sub-category top rankings, down from three and eleven respectively in the January Q1-2012 review. BMO InvestorLine earned one top category honour while Virtual Brokers earned one in the important Cost of Services category. Full results can be found at http://www.surviscor.com/scorView/Reviews/OnlineDiscountBrokerage/Q3-2012/.
Surviscor Inc. is a Canadian leader in the analysis and ranking of Canadian online services offered to retail consumers. Surviscor produces seasonal feature and functionality scorCards and email responsiveness studies, including its prominent 'Online Banking scorCard'. All studies and analyses serve as industry benchmarks for consumers and firms by identifying firms considered to be leading-edge solution providers and those whose online offerings are well below industry standards.
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 77,000 employees, Scotiabank and its affiliates serve some 19 million customers in more than 55 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets of $637 billion (as at January 31, 2012), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.