(January 24 – 09:40 ET) – A new online brokerage launches today. Canada Invest Direct Inc. boasts Canada’s lowest commissions, promising trades for 2¢ a share, subject to a minimum commission of $22.95 per trade and a maximum of $99.95 per trade.

The new brokerage CanadaInvestDirect.com was formed as a joint venture between GlobalNetFinancial.com Inc. and First Marathon Inc. (First Marathon was subsequently acquired by National Bank of Canada).

GlobalNetFinancial.com, Inc. has entered into an agreement in principle to purchase National Bank Financial Inc.’s interest in Canada Invest Direct, subject to receipt of all necessary regulatory approvals and other conditions. GlobalNetFinancial.com is a financial portal providing online transaction execution services, financial news and content.

“Canada Invest Direct Inc. provides an online brokerage service that is both affordable and robust and should appeal to both new and experienced investors,” said Peter Jones, president and CEO.

“Canadian investors will enjoy the lowest online commissions in the country and superb customer service without compromising on access to valuable investor information or quality of trade execution.”

Canada Invest Direct is headquartered in Toronto and is a member of the Investment Dealers Association and the Canadian Investor Protection Fund. You can visit its Web site at www.CanadaInvestDirect.com.
-IE Staff