Charles Schwab Canada, Co. is dropping its trading fees, thanks to the recent lifting of suitability review requirements.

Effective July 30, the company will charge $25 per trade — down from $33 per trade — for equity transactions up to 1,000 shares. The 24% drop in fees applies to both Canadian and U.S. market orders, and is offered for self-managed clients using web and wireless channels.

Schwab has also lowered prices for limit and special orders from $33 and $39 respectively, to $29. Furthermore, Schwab has become the first brokerage firm to place a cap on trading commissions. This means that self-managed clients can trade unlimited volumes in a single transaction — at a maximum commission of $250 when using the web or wireless. A cap of $300 has been established for trader-assisted transactions.

“Since the securities industry regulators lifted the Suitability Review requirement for brokerage firms, we have been able to greatly streamline our trading process,” said Paul Bates, president and CEO of Charles Schwab Canada.

Schwab’s new pricing structure will apply to trades of stock valued at $2 dollars or more; commissions for trades of stock valued below $2.00 per share will remain at 1.5% of the principal trade value.