BMO Investorline Review

Customer Rating:    brokerage firms reviews


BMO InvestorLine customer reviews 2018: complaints, feedback from clients, pros and cons. Is it safe to invest?


  • Stocks: $29 if account less than 50K, $9.95 if over 50K or making over 30 trades per quater.
  • Options: $9.95
  • Mutual funds: $43
  • Minimum to open: 5,000 for TFSA, $0 for RRSP. Minimum balance for best or discounted commission is $50,000.

BMO InvestorLine cash/margin accounts, retirement savings accounts (RRSPs, LIRAs, LRSPs, RLSP), RESPs, TFSAs, retirement income accounts.



About BMO InvestorLine

Established in 1817 and based in Canada, BMO Financial Group serves more than 11 million personal, commercial, corporate and institutional customers in North America and internationally. Our operating groups – Personal and Commercial Banking, BMO Bank of Montreal in Canada and Harris in the United States; Private Client Group, our wealth management business; and BMO Capital Markets – share one vision: to be the bank that defines great customer experience.

 

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BMO InvestorLine Customer Reviews

by Madeline, 2/16/2018

Pros: Cannot see any advantage to having BMO manage my funds. Costly and ineffective.

Cons: Seem to be asleep. Saw no movement in my mutual funds managed by BMO after several years. Paid for management and so no returns for those fees.

Awful service. Online service never works and how are we to trade over the phone when we cannot research or see the stocks, quotes, research, etc.? Awful, awful, awful service. Online NEVER WORKS. Always having technical difficulties. Want to go to another bank. Not worth the inability to carry out transactions - VERY FRUSTRATED CLIENT!!!!!!

by Joe C, 2/5/2018

Pros: Real Time quote for Gold members, web site for trades is well done.

Cons: Phone call waiting time is unacceptable, 35-40 minutes.

Like mentioned in the broker Cons, the wait time to talk to a representative is too long. I called many times and often hung up because it was in excess of 40 minutes. Even after weeks passed, it was the same issue but I needed to transfer shares into my TFSA account so I had no choice to wait. Several weeks passed, same issue, I had to transfer shares to me RESP account, I had to call since there is no way to transfer shares with their internet site.

by long suffering customer, 1/22/2018

Pros: none, same as every other brokerage

Cons: constant problems with sign-in security, unwarranted account suspensions, long wait times on phone to resolve their software problems......

Here I am again, utterly disappointed and frustrated with BMO' online brokerage accounts service. I also see my last entry from the beginning of January 2018 plus a few other peep's complaints have disappeared from this site. After waiting on the phone the last time for over one and half hours, it appeared things were finally straightened out with access to one of my accounts. Everything certainly worked well after my last convo with the knowledgable attendant. Here we go again.......my account has been suspended from trading for "my protection"......can only view my holdings, but not trade. WTF, nothing changed, password still the same!!!! I don't have another hour to spend waiting on the phone again! Sitting here waiting ....while my phone passes the 31 minute wait mark, and I am being told that "my patience is greatly appreciated". DO NOT sign up with BMO Investorline, save yourself a lot of aggravation and frustration. Find another brokerage!

by Nevin Blumer, 9/14/2017

Pros: Online platform for trading, equity and ETF screener service

Cons: Terrible customer service

This very unprofessional group of representatives suspended not only my trading but even viewing my account . My crime? I did not submit a Materials Change form when I moved from Vancouver to Ottawa area, even though I had already supplied new contact information to agents before I left. I was never told I needed to do this extra step, no email, no call, no mylink notice, but they arbitrarily not only suspended trading, they even denied me from viewing my account via log-ins. Even after I had submitted by email+ scan they continued to suspend my account because of their incredibly poor system of sharing information . You don't suspend an account over a small process but even if you do, do not deny customers the right to see their account informatin. I also deal with RBC Direct Investor and they never asked for such a form nor did QUEST Trade, but I know that if they did have such a requirement, they would have informed me before taking such drastic measures. I would suggest you save yourself the headaches from this terrible service and go with RBC or Scotia Bank instead for your blue chips and Questtrade for your specs.

by Bmoinvestorline sucks, 8/30/2017

Pros: They speak English

Cons: Can't do basic math

Absolutely horrid. Called him three times to ask for average dollar cost average in on the stock purchase got three different answers all were wrong. Took three days for a manager to call me back but it wasn't a manager it was an assistant manager. I was coerced into telling him the story thinking that I would be heard they were most generous and offered me a discount of three dollars off on my trades. Lol. This company is Third World 100%. Even after reading the reviews here to this person on the phone they were entirely consistent with my own experience. I too am trapped with a bunch of clowns but in time this will cost them over $1 million dollars.

by 10 YEARS BMO INVESTOR, 8/28/2017

Pros: TERRIBLE. LIKE 3RD WORLD

Cons: 3rd world. Worse than Walmart

DISGUSTING. Like 3rd world. No one does anything there.

by ALFRED WOLF, 8/3/2017

Pros:

Cons: CHEATING WITH INVESTOR MARGIN ACCOINT.

SOLD 4200 SHARES OF PVG.T AT $ 15.00 FOR $60.000 AND CONVERTED TO SEVEN ODD LOTS
TO INCREASE COMISSIONS.
MARGIN WAS $1.500 .

NO MARGIN CALL WAS EVER MADE.

by pl, 5/2/2016

Pros:

Cons: Lousy RUDE staff at the phone

Rude when you call them even when you are giving them business.

by Rick, 9/25/2015

Pros: None

Cons: Slow, uninformed, arrogant.

None of the managers have any idea what is going on. The kids just do what they want. Discount broker with discount employees. There has to be someone better out there.

by Manny, 2/28/2015

Pros: The website, very interactive, very informative

Cons: They do not have support staff to accommodate their business

Just signed up for BMO TFSA trading account. First time using their trading services as I have been with TD for over 20 years. Online, I like their site, very interactive, very informative and some great features. However, when you call them from support or questions that when things went wrong. They do not have support staff to accommodate their business/clients. I have called three times, so far each call has averaged more than 7 mins of waiting times and I have had to hang up twice due the length of wait. In one case, I lost money given the stock I wanted to trade kept going up while I waited…. The worst scenario for an online investor. Hope they will change things soon to address this. Never had such an issue at TD when it came to support staff.

by Aubrey, 6/13/2014

Pros:

Cons:

Well, I needed access to my BMO InvestorLine account to make some trades today as the market is moving. However, I can’t log into it, and when I called them, no one picked up. After 45 minutes of this, I called the BMO telephone banking number and was told that it should be up within 90 minutes. In the world of trading, this is totally unacceptable.

by Craig, 5/8/2014

Pros:

Cons:

BMO investorline is a subpar service at best. I am a active trader and regularly trade MSFT 10,000 share blocks at a time. Sometimes it takes 2 minutes to fill the trade. Not a good service for an active trader.

by salmonpointsam, 3/3/2014

Pros: linked to my BMO accounts

Cons: Absolutely no customer service perspective, amateur management.

I've maintained an Investorline account for several years with a cash account as well as RRSP's, LIRA's and TFSA's. The operation is hopeless. Their IT people are worthless as the site is generally unavailable on high volume days and elements like the streamer and level 2 quotes are unreliable at best. The staff are poorly trained and ooze a level of unearned arrogance with their approach. Some relevant information, like margin requirements for debentures, are inaccurately displayed on user facing pages and few staff know how/where to get the correct info. I'm still there due to my understanding that a portfolio transfer will take 6 to 8 weeks, a period of inactivity that is unacceptable. I'm trapped in an awful operation. I hate it!



Leading Brokerage Review Websites About BMO InvestorLine


"BMO InvestorLine consistently ranks well across reviews although not necessarily earning top spot in some of the major reviews. With pricing now in line with several bank-owned peers, they may turn their attention to improving their educational, promotional or platform offerings as they continue to try and compete with other brokerages."

SparxTrading.com

"BMO Investorline has rave reviews (top ranked bank-owned online broker by Globe and Mail, #1 in customer email responsiveness, and an Ipsos Reid poll stating that they are the best in customer service). ...I guess BMO Investorline is targeted towards people who have HUGE portfolios. ...Too bad the commission is so high. I would classify myself as more of a swing trader, so I think that the commissions I would incur would eat my portfolio alive."

YoungAndThrifty.ca

"BMO InvestorLine has been rated one of the top of discount brokerages in Canada and offers competitive pricing (if you have more than $100,000) with an excellent online trading platform and research material. The web trading platform is easy to use and navigate."

MoneySmartsBlog.com

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BMO InvestorLine reviewed by former and current clients. BMO InvestorLine customer reviews: 13. Rating: 1.