FAQs

Collapse AllExpand All

Placing an Order

Yes, Credential Direct offers you access to Bonds, over 1600 different Mutual Funds, GIC's, T-Bills, and other money market instruments. Fixed Income and Mutual Fund orders can be placed on-line or by phone. (See Trade > Mutual Funds or Trade > Fixed Income)

Your first trade must be covered by sufficient funds or security in your account. If you have entered an Electronic Funds Transfer, that is perfectly acceptable even though the money won't physically come into your trading account for 1 to 2 business days.

No, Credential Direct does not accept credit card payments. However, you could do a cash advance from your credit card, deposit the cash into your chequing account and then process an EFT, or a Bill Payment, into your Credential Direct trading account.

After you have entered your order on-line you will get a confirmation screen with an order reference number. We suggest you print this screen. You can then go to Trade > Pending Orders to view the status of that order or to change the order; or, go to Accounts > Account History to see the historical transactions in your account if the order is filled.

You can view active orders by going to Trade > Pending Orders to view the status of that order or to Accounts > Account History to see the historical transactions in your account. You can also phone Credential Direct at 1 877.742.2900 to speak with an Investment Representative. A paper confirmation of a completed trade will be mailed to you the day after the order is filled. You can also check your account statement which is mailed to you after the end of the month, or available online at Accounts > Online Statements when you have a transaction in your account.

Visit the Credential Direct public site Margin for examples of how margin trading works.

AON in is a special terms order available only on U.S. Markets that restricts your trade to be transacted only if all the shares can be traded at one time. This order is handled manually and will not reflect in the bid/ask quoted from the exchange.

Because an AON is a manually handled restricted order it may be more difficult to fill. The specific number of shares you have indicated must be available at that price for your order to be executable. You may see trades happening at your price but the quantities may not be sufficient to fill your order. Unrestricted orders have priority over restricted orders.

If you’ve placed an AON order on your trade and you want to remove it, you must cancel the AON order and enter a new order without the AON restriction on it. Be aware that your cancellation is subject to prior fill.

A sell Stop Order is a special terms order that restricts your sell order to only be traded if the stock price drops down to a limit you specify. If you’re placing a buy order as a Stop Order, you would place the limit price above the current price so that you only buy once the stock rises to a certain price. Ensure you select “Special Terms” on your order.

Your stop order must have the number of shares, the limit price that will be the 'trigger' and an On Stop with Limit price of what the lowest price you are willing to accept for your sell order (or the maximum price if it is a buy order).

If you’ve placed a Stop Order on your trade and you want to remove it, you must cancel the Stop Order and enter a new order without the Stop Order restriction on it. Be aware that your cancellation is subject to prior fill.

Yes you can trade less than an even board lot, but trading standard units is recommended as priority is given on the exchanges to even board lot orders.

Stocks and most mutual funds have a 3 business day settlement period. When you buy a stock, you have three business days after the trade to pay for the trade (Registered Accounts are ‘cash up front’). When you sell a stock, you have three business days before the cash from the sell comes into your trading account. If you sell a stock, you can immediately buy another stock, because the settlement period will be the same. Money market mutual funds and options have a one business day settlement.

If you have sold a stock and you want to take the money out of your trading account, you must first wait three business days after the trade and then you can request an Electronic Funds Transfer. Registered accounts require a Deregistration Form.

Mutual Fund orders can be placed on-line but the processing of the order is handled more manually than stock trading. The cut-off time for same day pricing of most mutual funds is 1:00pm Pacific Standard Time. Allow 1 business day after your request for the order to reflect in your account. Be aware that some mutual funds only price once per week, once per month, or once quarterly. Contact the fund company for details.

U.S. dollar trades executed in your registered account (RSP, RIF, TFSA, LIF, etc.) at Credential Direct are subject to foreign exchange conversion. For example, if you buy a U.S. dollar security, the purchase will settle in Canadian dollars with the foreign exchange rate for buy orders applied. If you then place a sell order, the foreign exchange sell rate will be applied to that sell. We are currently in development to permit U.S. dollar cash in a registered account so that foreign exchange conversion will not occur. Until that time we are pleased to provide the following: “foreign exchange flat trades” also known as “washing FX rates”.

To Wash the FX Rates: Washing the FX rates must be handled manually through a phone order by a representative:

  1. Orders must be $10,000 USD and executed on the same day
  2. Execute the first USD$ order on-line
  3. Once filled, then phone Credential Direct to place any subsequent orders. Commission will be min $43USD
  4. The representative will manually apply the same FX rate as the first order
  5. Credential Direct will not be responsible for washing the rates on executed orders from prior days; or, on subsequent orders that have been executed using the on-line trading system

For security purposes trading passwords can only be reset by a Credential Direct representative. Give us a call and we’ll reset it for you: 1.877.742.2900

We use a third party to provide quotes, so if you’re unable to view quote information it’s usually due to your browser blocking “third party cookies.” Please try adjusting your browser settings so that you’re not blocking third party cookies. Hint: GOOGLE search “Third Party Cookies” and include the name of the browser you use (Internet Explorer, Chrome, Safari, Firefox etc.).

If you can’t get a particular quote, it might be because that symbol is not in our database. Please contact us at 1.877.742.2900 and we’ll get the symbol set up within 2 business days.

If you have a new account, it can take up to 5 business days for your cheque to clear. Once your cheque clears your account will be ready to go and you can start trading!

If you have an existing account it may be that the account is restricted due to returned mail. Visit Account Settings to see if your address is up to date. If it needs updating, you can change it there and we’ll update your account within 2 business days. If you’re unable to place a trade because of a different situation, give us a call and we’ll look into it: 1.877.742.2900

Yes! Go to Account Settings Preferences and make the changes under the “Trading Password” category. You can apply the same password to all account groups, just be sure to check the “Apply to all groups” box.

Mon to Fri:
6:00 a.m. to 5:00 p.m. Pacific Time 9:00 a.m. to 8:00 p.m. Eastern Time