Buying an ETF at Scotia iTRADE

You can open an account from Scotia iTRADE's site; a TFSA, RRSP, or FHSA fits most goals. Once it's open and funded, pick your fund from the asset allocation guide.

Placing the order

1. Sign in through Scotia OnLine and open iTRADE.
2. Click the Trade button to bring up the trade ticket.
3. Enter your fund's ticker, like VEQT; a live quote appears once you select it.
4. Enter your trading access code (iTRADE asks for it once per session).
5. Pick the account, set the action to Buy, choose market or limit, and enter the quantity.
6. Click Preview, check everything, then Submit.
7. The View Order tab at the top of the trading module shows the order status.

For the order type, use a limit order and set your limit a few cents above the current price. It fills right away, the way a market order would, but it caps what you pay if the price jumps while your order goes through. I do this on every buy, whatever the amount.

What it costs

Scotia iTRADE charges $9.99 per online trade. It keeps a list of 200-plus commission-free ETFs; whether a specific fund qualifies is worth a check there before you trade.