Industry News

Although mobile accessibility and services for discount brokerage clients has improved, it continues to lag the traditional online experience

By Leah Golob |

 

Toronto-based Bank of Montreal's (BMO) discount brokerage, BMO InvestorLine Inc., has earned the top spot in mobile customer experience in Canada, according to Surviscor Inc.'s 2017 Mobile Discount Brokerage scorCard Review.

BMO InvestorLine's ranking this year (76%) was head-and-shoulders above second and third place winners, Toronto-based Questrade Inc. (66%) and Vancouver-based Qtrade Investor (61%).

Toronto-based Surviscor's scorCard review, now in its second year, provides an impartial assessment of the overall mobile brokerage customer experience at Canadian discount brokerages.

"Mobile accessibility and services for discount brokerage clients has improved over the past two years with more core services being offered via mobile devices," says Glenn LaCoste, president of Surviscor, in a statement. "The disappointing fact is that overall mobile offerings continue to lag traditional online experiences, not allowing clients to make a complete conversion," he adds.

The full ranking of services among the 11 firms surveyed is as follows:

  • BMO InvestorLine (76%)
  • Questrade (66%)
  • Qtrade Investor (61%)
  • Credential Direct (59%)
  • Scotia iTRADE (50%)
  • TD Direct Investing (50%)
  • RBC Direct Investing (43%)
  • Virtual Brokers (42%)
  • National Bank Direct Brokerage (36%)
  • CIBC Investor's Edge (31%)
  • Desjardins Online Brokerage (27%)
     

Surviscor's proprietary scorCard methodology measures more than 3,900 objective usage-related criteria questions in four main device families. Each firm is reviewed in six independent categories, with each category weighted according to industry importance through direct feedback with industry firms.

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