Credential Direct Credential Direct has been offering high quality online brokerage services since 2000. Founded by the credit unions in Canada and headquartered in Vancouver, Credential Direct serves more than 180 credit unions and non-affiliated members. As a branch of the Credit Securities Inc, the company administers investment assets worth close to $10 billion. Being a member of CIPF, Credential Securities offers to its clients the benefits provided by the fund, protecting up to $1 million of holdings per every qualifying account. The company offers resources to different types of investors. Those who save for their children’s education, invest for retirement, trade actively, or choose to buy-and-hold can take advantage of Credential Direct’s services. They promise reliable and easy-to-use technology, competitive commissions, and high quality research and trading tools. Since 2004, independent reviewers have ranked the company ‘Canada’s Best Overall Broker’ six times. Apart from quality services, Credential Direct offers quote tools, market tools, and trading tools. Investors can take advantage of the offered chart pattern analyses, interactive charting, advanced technical screens, and much more. With the help of the Portfolio Manager, traders can find the adjusted cost basis for all transactions and track how well multiple portfolios perform. Cash, mutual funds, stocks, and other types of investment can be tracked so that investors know their real net worth. Credential Direct offers a variety of accounts: tax-free savings accounts, registered accounts, options trading margin accounts, margin accounts, and cash trading. With the spousal RRSPs, for example, customers can contribute on behalf of their spouses or transfer the registered retirement savings plan to a registered retirement income fund. Clients can apply online for some types of accounts such as the margin account, cash account, or self-directed RRSP. The company features an online application which has to be printed, signed, and mailed. With other types of accounts, the customer has to apply manually. Such accounts are, for example, the locked-in RRSP, investment club account, corporate account, and TFSA. A cash account has to be opened simultaneously. Credential Direct assigns an account number within 2 working days after the completed application has been received. The client is issued a user ID, an account number, and a login password. Clients can also choose from different types of ownership. Individual ownership is suitable when the customer will be investing for himself. It should be chosen for each registered account. Joint ownership comes with other advantages. If one of the account holders dies, the other will automatically become the owner of the account. Accounts ‘in trust’ can also be opened for other persons. Corporate accounts are opened in the name of corporations. Customers are allowed to open a margin or cash account, but not both of them, with a single application. Those who open a margin account, options trading account, or cash trading account have an account in Canadian and US dollars opened for them. Registered accounts can be opened in Canadian dollars only. The initial deposit on options margin trading and margin accounts is a minimum of 2,000. Low commissions naturally translate into higher profits for the client. Credential Direct charges no inactivity fees or user fees, and there is no account opening minimum for the registered and cash accounts. In addition, customers get a 10 percent rebate automatically whenever they pay a commission of $2,500 or over within one month. All accounts get rebates automatically on the 15th of the next month. Long-term investors enjoy no annual fees for locked-in registered accounts, RRIF, and RRSP with a balance exceeding $15,000. No fees apply to mutual funds with regard to redemptions, switches, and purchases. Charges may apply for short-term switches and redemptions.