Who can take advantage of this service?
This service is available to all clients who have deposit accepting accounts at Virtual Brokers. There is no fee for account holders who are recent graduates (within the last 2 years) or students. All other account holders will be charged an annual fee of $50.
How do I add this service to my account?
Current clients simply select the “Kick Start Investment Program” box under Account Services on the client dashboard and complete the short form. Nothing further is required. If you do not have an account at Virtual Brokers, you can open an account here and immediately add the service.
What are the costs for this program?
There are no costs for students or those who have graduated within the last 2 years from any post- secondary program. There are no costs for participation in the program, and there are no commissions associated with the monthly purchase of the securities.
For those interested in the program who do not qualify under the educational criteria, there is a $50 annual fee for the service, but there are no commissions charged on the monthly purchases.
Which securities can I buy with the funds transferred from my bank account?
A majority of ETFs and stocks listed on the S&P500 or TSE60 can be purchased through KIP. The service is available in both CAD and US funds.
How do I change my instructions?
Simply login and submit/overwrite new settings under the Kick Start Investment Program option in the “Account Services” Tab.
Are there limits on the amount that can be contributed monthly?
There are no limits on the maximum allowed by the program, but there is a $100 monthly minimum contribution.
What type of accounts can I add KIP to?
You can add this service to all deposit accepting account types available at Virtual Brokers. This includes your All-In-One account, TFSA, RESP and RRSP.
How are the monthly contributions allocated?
Depending on the contribution amount, market price, and number of selected securities, the program will diversify the allocations based on priority specified during enrollment. Fractional shares are not purchased, if there are funds left over (known as a cash residual), it will be credited to the account.
What documentation is required for proof of student status?
A copy of an official document which shows your student status; either a current student or a graduate within in last 2 two years. Examples include: a Student Card, a letter from the university, or a graduation diploma or student transcript.
Are fractional shares available?
How do I stop the service?
To send a cancelation request, type: “Stop Service” in the Comments box under the Kick Start Investment Program option in the “Account Services” Tab.
Have more questions?
For any other questions, please login and submit a Ticket through the “Support Centre” tab.