E*TRADE Canada is offering online customers of Charles Schwab Canada an opportunity to switch to its competing service, plus get up to $1,800 cash.

Schwab Canada brokerage customers who transfer their account to E*TRADE Canada before March 31, will receive up to $1,800 cash.

The cash payment will be calculated as follows:

  • $1 per $1000 in asset value transferred, for the value held with E*TRADE Canada for six months, to a maximum of $500;
  • $10 cash rebate for each regular commission equity trade executed within 6 months of opening their E*TRADE Canada account, up to a maximum of $500;
  • Transfer fees reimbursed, up to a further $125; and
  • 25 Free Trades during the first 30 days, worth up to an additional $675, which applies to clients who open their first E*TRADE Canada account.

Complete details of the Schwab Canada customer offer are available on the company’s Web site.