What is the minimum deposit required to open a Scotia iTrade account?
Asked 6 months ago
The minimum deposit required to open a Scotia iTrade account is $1,000 CAD. This initial deposit ensures that customers have sufficient funding to start investing in the stock market. It is important to note that this minimum deposit applies to regular cash accounts. Scotia iTrade also offers registered accounts such as Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs) which do not have a minimum deposit requirement. These registered accounts have their own contribution limits set by the Canadian government. However, for individuals looking to open a regular cash account, a minimum deposit of $1,000 CAD is necessary to get started with Scotia iTrade.
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